Loyalty Programs Take Flight:
Maximizing Travel Rewards
in 2024

Travel costs are soaring, but loyalty programs are making those bucket list trips more attainable. According to Barclays’ 2024 Travel Rewards and Loyalty Report, over a third of travelers in loyalty programs see rewards points as a must-have part of their travel budget.

This trend, driven by changing consumer behaviors and economic pressures, requires doubling down on the perks that keep customers coming back. With World Tourism Day around the corner, here’s how to get the most out of your travel rewards. 

Unlocking the Power of Loyalty Programs
Thanks to TikTok travel advisors and social media creating travel envy, people are eager to earn more points to make their travel dreams come true. We're seeing a strong uptick in credit card use for all kinds of purchases, all in the name of racking up travel rewards and loyalty points. Compared to last year, personal travel is up, while business travel has slowed down. This tells us that people are more willing to spend on leisure activities, with 77% of travelers saying they expect to travel more soon.

Loyalty programs have been around for decades, but now they’re more creative and innovative, making points more flexible and valuable – think about perks like early boarding, free checked bags, airport lounge access, elite status, TSA PreCheck, and even discounts on in-flight purchases.

Beyond Free Flights: It’s all About Experiences and Flexibility
Loyalty programs aren't just about free flights anymore, they're about unlocking amazing experiences. Most travelers surveyed said they couldn’t take the quality of trips they do without the benefits of these programs. 

Imagine using points to book a Michelin-star dinner or scoring an exclusive hotel room upgrade – these are the perks that money can't always buy. Flexibility is also key with many programs now letting you redeem points for statement credits or cash back.  

Choosing the Right Card: Beyond the Bonus
With so many credit cards out there, it's easy to get lost in a sea of sign-up bonuses. While those initial points are tempting, don't forget to think about the long-term value proposition. Here’s what you should consider:

• Earning rates: How many points or miles do you earn per dollar spent, and in which categories?
• Fees: What are the annual fees, foreign transaction fees, and other potential costs?
• Perks: Do the "soft benefits" like free checked bags, priority boarding, or lounge access align with your travel style?
• Redemption options: How flexible are the redemption options? Can you use points for flights, hotels, statement credits, or other travel expenses?

Maximizing Your Rewards
Travel rewards are now a huge part of how people plan their trips. Most travelers say they’d change their travel plans if rewards programs weren’t available, opting for cheaper options, different providers, or shorter trips. Nearly all travelers surveyed plan to stick with or join a rewards program in the coming year, setting the bar high for the industry.

To ensure you’re getting the most out of your rewards, keep these tips in mind:

• Review your benefits regularly. You might be surprised by the perks you've forgotten about, like travel insurance, lost luggage coverage, or even TSA PreCheck reimbursement.
• Take advantage of limited-time promotions. Banks often offer bonus points or miles for specific spending categories or merchants.
• Co-branded credit cards can be a good choice if you want rewards that are tailored to your preferences and needs. Benefits could include special perks, such as free nights at hotels, upgrades or companion passes for airline travel.

By staying in the know about the latest loyalty program trends and choosing the right products for your needs, you can turn those points and miles into unforgettable experiences.

This information is for educational purposes only, not intended to be financial or legal advice. Always consult a qualified financial advisor before taking any action based on this information. The views and opinions expressed are those of the authors and do not necessarily reflect the official policy, position, or opinion of Barclays Bank Delaware.

Blog Author

Doug Villone
Head of Cards and Partnerships
Barclays US Consumer Bank

Doug Villone is Head of US Cards and Partnerships, responsible for the US Consumer Bank’s (USCB) consumer credit card portfolio and partnerships with more than 20 of America’s best brands. Doug is a seasoned financial services leader with more than 25 years’ experience in credit cards, banking and payments. 

Doug rejoined Barclays in April 2023 after spending five years at Goldman Sachs where he served most recently as the Global Head of Operations for Marcus, its consumer branded business. He oversaw all facets of operations during the bank’s foray into the highly competitive US consumer market with products that included credit cards, loans, investments and savings. He previously worked for USCB from 2007 to 2018 in various leadership roles that spanned credit card partnership management, operations and chief of staff to the CEO. Earlier in his career, Doug managed credit card programs for HSBC Card and Retail Services and Bank of America (previously MBNA). 

Doug holds an undergraduate degree in political science and history from the University of Maine at Farmington.