Travel rewards points: Book summer trips before costs jump]\

Travel rewards points can be worth more right now as airfare and hotel rates show signs of rising ahead of the summer travel peak season. CNBC recently reported that booking award flights and reward hotel stays early is a key strategy because prices can rise sharply as demand increases.

Airlines are expanding “dynamic pricing,” which changes the miles needed based on demand. As more travelers book trips, the required miles can rise quickly for the same seat.

United and American Airlines allow travelers to buy any seat with miles. But as fewer seats remain, the miles required increase steeply.

Experts said, “As summer gets closer, the mileage for reward flights surges,” and added, “Now is a time when you can secure seats with relatively fewer miles.” They also noted that business and first-class seats on Europe and Asia routes sell out quickly.

Travelers may also need to prepare point-earning in advance. The Chase Sapphire Preferred Card offers a welcome bonus worth about 75,000 points if a cardholder spends a set amount within three months, but it can take several weeks for points to post.

Those points can be transferred into airline miles or used for hotel bookings. They can cover a short-haul international flight or a significant portion of a two- to three-night stay.

For hotel stays, co-branded card benefits can make a major difference.

The Marriott Bonvoy Boundless Card offers up to five free nights with $3,000 in spending within three months. The World of Hyatt Card offers three free-night certificates with $5,000 in spending within three months, and an additional two free-night certificates with $15,000 or more in spending within six months.

Travel rewards points can also help with lodging through transfers. Points from the Chase Sapphire Preferred Card can be transferred 1:1 to Marriott Bonvoy and World of Hyatt for hotel bookings. Marriott Bonvoy allows travelers to add up to 15,000 points to a free-night certificate and use it toward a room costing up to 65,000 points per night.

For last-minute travel, statement credit-style miles can be an alternative. The Venture Rewards Card currently offers 75,000 miles and a $250 travel credit, which can reduce travel costs soon after approval. A traveler can receive the card in about two weeks, book $1,000 in travel, and then use miles to erase up to $750 once the miles post.

By Eunyoung Lee [lee.eunyoung6@koreadaily.com]