It’s hard to think about the holidays when you’re blasting the AC and sweating like crazy, but now is the time to start budgeting. If you’re hoping to save money on travel at the end of the year with a little rewards hacking, you’ll want to get started soon.
A recent NerdWallet study found that the best time to apply for a new travel rewards credit card is no later than five months before your trip. We’ve written about this study in detail, and the rewards can vary from card to card (and depending on the travel), but it’s a good overall rule of thumb to follow.
The five-month lead time applies if you plan on using your new credit card’s points or miles to book a flight. That period includes:
- About two weeks to receive your card after applying
- Three months to spend enough on the card to earn the sign-up bonus
- Enough time to book your trip at least 47 days in advance – the ideal time to get the best deal
If you’re planning on booking only a hotel room, the necessary lead time may be shorter. However, keep in mind that hotel rooms may fill up faster during the holiday season, so plan accordingly.
Source: LifeHacker
