Nashville Travel HackersMarch Meet Up

By: Nate Buchanan@natebuchanan

http://natebuchanan.org/

Overview

• How to set up mistake fare alerts• Last chase for an easy 50,000 AA miles• A new strategy for meeting minimum

spending requirements• Paying taxes with your credit card• Avoiding Financial Fees while traveling abroad• Calculating the value of “luxury” credit cards

Mistake Fare Alerts

What is a Mistake Fare?

• Abnormally cheap airfare that has been mistakenly priced too low for one reason or another– Computer Glitches– Human Error– Currency Conversion Errors– Miscommunication between OTAs and Airlines

Thailand = $225

South Africa = $325

Other Examples

• $425 Business Class Flights– DCA > PEK (RT)

• $110 First Class Flights– LHR > USA (OW)

Where to Find Mistake Fares

• FlyerTalk – Mileage Run Deals Forum – http://www.flyertalk.com/forum/mileage-run-deal

s-372/• The Flight Deal– http://www.theflightdeal.com/

Current Options

• Twitter– Follow the @TheFlightDeal– Follow my Travel Hackers Twitter List• https://twitter.com/natebuchanan/lists/travel-hackers

• Blogger’s Mailing List– Nate Buchanan– Extra Pack of Peanuts– The Points Guy

Best Option

What is IFTTT?

• If This Then That– Use to create “recipes” – (If) The Flight Deal publishes a new post– (Then) Send a notification to my phone

Setting Up IFTTT

• Create an account on IFTTT• Download the App• Follow my recipes – https://ifttt.com/p/nbuchan1/shared– “The Flight Deal – Notifications”– “Flyertalk Mileage Run – Notifications”

What You Get

• Picture of notification

The Best Tool For Meeting Minimum Spending Requirements

Target REDcard (Prepaid)

• Reloadable Prepaid Card– Target’s Version of the popular Bluebird.com

What Make the REDbird Special?

• YOU CAN LOAD IT WITH A CREDIT CARD!!!– Up to $5,000 per month

Old System

New System

Finding the (rare) REDbird

• Only Available in Certain Areas - Not in Nashville – https://amex.serve.com/prepaidredcard/faqs/

Find the (rare) REDbird

• Ebay

Earning Miles & Points by Paying Taxes

Online Tax Payment

• IRS 3rd Party Payment Processors

When Does it Make Sense?

• Meeting Minimum Spending Requirements• Earning Elite Spending Perks– Citi Hilton Reserve • Diamond Elite Status after spending $40,000

– Citi AA Executive Card• 10,000 EQM after spending $40,000

• Barclay Arrival/CapitalOne Venture– Earn 2% back?

• First or Business Class Award Redemptions

What about Debit Cards

• Easy way to empty prepaid cards– Bluebird or REDbird

50,000 EASY AA Miles

AA & US Airways Merger

LAST CHANCE – US Airways Mastercard

Deadline ~ April 15th

What Happens Next?

100,000 AAdvantage Miles

Fly (almost) anywhere In the World

Avoiding Financial Fees Abroad

Credit Cards

• No Foreign Transaction Fees• My Favorites– Chase Sapphire Preferred– Barclay Arrival

What About Cash?

• Two Options– Currency Exchange Counters• Avoid at all cost

– ATMs• Better but you still pay fees

ATM Fees

• Foreign Transaction Fee– 1% - 3%

• Foreign ATM Fee– $2 - $5

• Example– Cost to withdraw $1,000 in $250 increments • Foreign Transaction Fee = $20 (1,000x.02)• Foreign ATM Fee = $16 (4x4)• Total Fees = $36

The Answer to Avoid Fees

• Schwab Bank High Yield Investor Checking Account– Free Debit Card– No Foreign Transaction Fees– Reimbursed for ALL ATM fees– $0 Monthly Service Fee– $0 Account Minimum

Schwab HYICA

• Cons– Must meet with an advisor face to face to setup

an account– No bank branch in Nashville– Must mail a check (or cash) to make a deposit

Last Thought

• Use your Schwab HYICA as a travel saving account– Monthly deposits– Make saving for travel a priority

Luxury Credit Cards

American Express Platinum Card

• Annual Fee = $450• Value– $200(2x) “Incidental Airline Fees” reimbursement • Per Calendar Year

– $100 Global Entry Reimbursement– $750 Sign up bonus• 50,000 Membership Reward Points ($.015 value each)

• $1,250 – $450 = $800

Other Benefits

• $399 - Priority Pass Prestige Membership• $450 – Delta Skyclub Individual Membership• New Positive Value = $1649

Citi Prestige Card

• Annual Fee = $450• Value– $250(2x) “Air Travel Credit” • Per Calendar Year

– $399 Sign up bonus• 30,000 Thank You Points ($.013 value each)

• $900 – $450 = $450

Other Benefits

• $399 - Priority Pass Prestige Membership• $450 – Admiral Lounge Individual Membership• New Total Value = $1299

Other Topics For Future Meet Ups?

Questions