Because not everyone wants to constantly take out new credit cards every year in order to leave on an all-inclusive vacation for less than $1,000You can also achieve this goal organically by maximizing the rewards you can earn for your daily spend.

The types of points you should aim for are the same as in the previous section. While some cards offer hefty bonuses, others give you a generous earn rate on your key spend categories like groceries, restaurants, fuel, and more.

With the Cobalt Card^md American Express allows you to earn 5 Membership Rewards points on anything labeled as food or restaurants. For the best return, you should also buy gift cards at grocery stores to pay for gas and other purchases like Amazon, SAQ, Netflix, etc. to get 5 points per dollar on those non-grocery expenses.

If you typically spend $800 a month on groceries (groceries and restaurants) and $200 on gas station gift cards to fill up your car, that equates to 5,000 Membership Rewards points a month or 60,000 a year. And you already benefit from an annual discount All-inclusive vacations for under $1,000Because with those points, you’ll get a $600 credit on your statement!

I recommend the Cobalt Card^md American Express is available mainly because it does not require a minimum income and is therefore accessible to everyone.

However, you can use the same strategy for your travel purchases with the National Bank’s World Elite Mastercard, which also offers five times the points (similar in value to Membership Rewards when redeemed for cashback) and which is a Mastercard, meaning it will accepted everywhere. However, as a World Elite product, you must have a personal income of $80,000 to qualify.