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in the past couple of years I've traveled to numerous cities around the world flew first-class stayed at luxury hotels and vacationed at beautiful resorts this should have cost me over fifty five thousand dollars but it didn't I got it all completely for free in fact I have not paid for any vacations in the past three years or so and the reason I'm able to do this is because I learned how to gain credit cards to pay for all my travel expenses and the best part it's all completely legal now look I'm not just telling you this to brag to you about how cool I am you know that I have Instagram for that I'm telling you all this because in this video I'm gonna show you how I've been traveling the world for free and how you can do it too this is a strategy that you can use right away and can earn you thousands of dollars every single year for free that you can use to travel all over the world more importantly I'm also going to tell you what common traps you should avoid when implementing these strategies seriously a lot of people fall into these traps and if you become one of those people then you have let the bankers win and therefore you will go to hell now I hate to admit this but I am a carnist I feel prejudice toward people based on what credit card they use seriously if I'm on a date and I see my date pull out a debit card to pay for coffee or drinks that's practically a deal-breaker for me right now you're probably wondering Kong who would go on a date with you and to that I say not that many people if you want to see me make a video about that press the like button below this video but seriously any time somebody takes out a debit card to pay for something I immediately lose a lot of respect for them I am a car 'test because if you are using a debit card paying with cash or using a credit card that gives you really crappy rewards then you are just wasting money you are flushing money down the toilet just by signing up for the right cards and learning how to legally game the system you could be taking vacations worth hundreds or even thousands of dollars every single year for free for practically doing nothing so the secret to traveling the world for free is pretty simple exploits credit card points credit card points in case you're unfamiliar are essentially just a reward system that credit card companies use there are two primary ways to get these points the first and best way to get points is to sign up for a new credit card that will give you a large signup bonus there are a lot of these out there you should do your research but the one that I recommend the most is the Chase Sapphire Preferred which gives you sixty thousand points for opening the card now there are some small requirements here but I'll get to that in a bit first let's talk about what you can do with these points once you get them now there are a few ways to redeem points depending on what credit card you have but most people will exchange it for cash back when you do this most popular credit cards will give you cash back at 1 cents per point so that's 60,000 point bonus that you just got well that would equate to $600 what a great deal right while exchanging your points for cash is one of the worst ways to utilize your points it would be equivalent to exchanging your new Tesla Model X for a 1998 Toyota Sienna while exchanging your points for cash gets you one cent back per point if you choose the right card you can actually redeem these points for travel and it will get you a value of two cents to ten cents back per points sometimes even more that means you can get ten times the value of the cash just by doing a little bit of research and understanding how the system works and look I get it because you see free cash you might be inclined to take the $600 but don't because you could potentially get a three thousand dollar vacation instead my general rule is that if you're not getting at least two cents per point or in other words 2x what you would have gotten if you took the cash then it's usually not a great deal so let's take a look at how you actually do that generally speaking the best way to get the most value for your points to transfer them out to an airline or a hotel Rewards program a lot of these programs work together with the credit card company so if you have a thousand points with your credit card it'll transfer over to exactly a thousand points with the hotel or airline rewards program with that said if you spend just a little time looking you can find the right rewards programs with phenomenal deals that you can take advantage of for example this gorgeous Park Hyatt in Maldives cost six hundred and seventy five dollars a night however if you transfer your credit card points too high its loyalty program you can get it for thirty thousand points per night that means you're getting a value of two point two five cents per point or in other words two point two five times the value you would have gotten if you traded those points in for cash so you're essentially exchanging thirty thousand points which is only worth three hundred dollars for a room that costs six hundred and seventy five dollars here's another example let's say you want to go to Hawaii who doesn't right you could stay at the Hyatt Residence Club Maui for one thousand two hundred and fifteen dollars per night not really something that everybody can afford or you could transfer your credit card points and stay for thirty thousand points per night which equates to about four cents per points four times the value you would have gotten if you had traded the points in for cash now with flights it can get even crazier let's say you live in Chicago and you want to go to Tokyo to celebrate New Year's Eve this is always a very expensive time to travel now let's say you want to splurge a little bit and take business class since it's a really long flight this round-trip flight from Chicago to Tokyo and back would cost you over nine thousand five hundred dollars if you paid regularly however if you convert your credit card points to the All Nippon Airways Rewards program you can fly to Tokyo and back for 90 thousand points that's more than ten cents per point meaning you're getting 10 times as much value as you would have if you traded the points in for cash so you're essentially exchanging 90,000 points which is only worth $900 and yet you can get a round-trip ticket worth nearly $10,000 this is literally how I travel the world for free when I take business class or first-class flights to a five-star luxury resort I'm never paying $15,000 cash for it I'm practically getting it for free simply by exploiting my points to get an insane deal now keep in mind that these deals will vary by season airline hotel and a few other factors as well so you have to do some research to find the best deals with that said I'll leave a couple links in the description that will serve as a really great place to start all right so now that you know how points work and how valuable they can be let's talk about how to actually get a ton of points in the first place the best way to do this as I mentioned earlier is to take advantage of credit cards that offer signup bonuses again the credit card I tend to recommend most is the Chase Sapphire Preferred which gives you 60,000 points as a signup bonus however the requirement is that you have to spend $4,000 or more in the first three months if you do this and get the 60,000 points that's enough to stay two nights at the Park Hyatt in Maldives that I showed you earlier and more than enough for a round-trip flight from New York to Madrid in Premium Economy and this isn't limited to just one card you can sign up for new cars and get those signup bonuses multiple times per year as soon as you get the bonus points for one card and hit their spend requirement you can open up another card that gives you a big signup bonus as well I've been opening up three or four new cards per year for the past two and a half three years obviously there are some limitations to this so I'll leave a link explaining that in the description but overall for the average person who's not going crazy opening a new card every single month you really don't have that much to worry about and if you're worried about this hurting your credit score this is not as big of a deal as most people make it sound while signing up for a new card might decrease your score by a few points this is temporary and if you have good credit then it's negligible if you want more recommendations I'll leave my list of favorite travel bonus cards in the description below these are cards that I have opened pretty much back to back in order to accumulate the points I used to travel the world for free with that said this brings me to trap number one spending extra money just to get the bonus points a lot of people will see these incredible credit card offers get the card and then spends more money than they originally would have to hit the four thousand dollar requirements do not do this I repeat do not do this otherwise the bankers win basically they tricked you into wasting more money on things you do not need just to get bonus points so don't do that instead only get these cards if you know for sure that you will be spending that amount of money anyway for example if you're in college and the semester is about to start you know you're going to need to buy school supplies class textbooks parking pass etc etc all on top of your regular expenses like groceries and gas estimate all of that out as best you can and if you're certain you'll spend above that required spend amount that's when you should get the credit card if you're coming in a bit under or you're just not sure then do not get the credit card until you are wait until you have to make a big purchase like if you're moving and you need new furniture so to summarize take advantage of big signup bonuses do this over and over with new credit cards to accumulate points however avoid the trap of spending more money than you would have without the card otherwise the bankers win so the second best way to get points is to use a card that rewards you for spending money on your usual expenses again there are so many different credit cards that reward you for different things so do your research but my second favorite credit card to recommend to people is the American Express gold card so the reason I always recommend this is because everybody needs to spend money on food groceries and restaurants and the American Express gold card gives you four points for every dollar you spend on groceries and restaurants the average person spends approximately $500 a month or six thousand dollars a year on groceries and restaurants if you use a debit card or cash to pay for this or one of those credit cards that your bank gives you without any rewards you're not getting any points or any benefit out of doing that if you use the American Express gold card however then you'll be getting twenty four thousand points per year just for spending the same amount of money you would have spent anyway on top of that the AMEX gold card also gives you a sign up bonus of thirty five thousand points after spending four thousand dollars in the first three months if you use a referral link you can actually get 40,000 points so selfishly I will leave my own referral link in the description so that you can take advantage of that offer if you're interested the main point is to look for a card that rewards you for spending money on your usual expenses which brings me to trap number two spending more than you can afford a lot of people will get really excited about the rewards they get like the four points for eating out and then they'll over spend maybe they'll get extra snacks at the grocery store or shop at Whole Foods when they usually shop at Ralph's or go out more often to eat at restaurants in the end they're stuck with a credit card bill that they don't have enough money to pay for and the credit card charges them an absurd amount of interest like 30 percent this is how they will make tons of money off you so make sure you do not do this otherwise the bankers win instead only spend what you can afford and make sure you pay off your credit card balance every single month on time if you do this you don't have to pay any interest whatsoever and you'll get to continue to reap the rewards one other side note to keep in mind here is that most cards do come with an annual fee usually the other benefits you get from the card will partly cover that fee for example the Amex goal has an annual fee of $250 but they give you $10 of credit every single month to spend on certain restaurants and a hundred dollars in credits for an airline of your choosing so if you end up taking advantage of these credits you end up really only paying thirty dollars out of pocket for the card every year remember that every card is different so make sure you do your homework and see if it's right for you and to make sure the bankers never win hit the like button below this video and if you haven't already make sure you subscribe to this channel for more content on entrepreneurship finance and a whole lot more I'll see you guys again in the next one