Secrets and techniques of an Air Factors Millionaire

Calling 44-year-old Barry Collins a “factors nerd” appears woefully insufficient given his stage of dedication to the craft. Extra exactly, he’s a millionaire in factors after having taken up a problem launched over the last months of 2024 by the Scandinavian airline SAS: touring world wide utilizing routes operated by 15 members of the SkyTeam alliance.

Describe the expertise as being like watching tv Race world wide with out the cameras, Barry’s points-collecting odyssey price him £3,950 and concerned 21 economic system flights, lots of them long-haul. This earned him 1 million EuroBonus factors which, if spent properly, may very well be value £10,000.

Barry says: “Each man I’ve talked to about this has mentioned, ‘That sounds so cool,’ however each girl asks, ‘And WHO takes care of your kids?’

The SAS promotion has generated large curiosity from factors fans world wide, in addition to intense criticism from environmentalists.

SAS declined to disclose what number of passengers took the million factors problem, however some journey bloggers estimate there may very well be a whole bunch. Many, like Barry, did it for the joys of the hunt. On a flight from Guangzhou to Nairobi, he found that 10 of his touring companions – 9 males and one girl – had been all on the identical quest.

I discover this darkly fascinating. What makes so many males detached to factors? How far will they go to maximise their level accumulating and redeeming method – and if you happen to’re tempted to attempt it your self, is it actually value it?

Shopper outrage this week over British Airways’ resolution to shake up its Government Membership loyalty program beginning in April reveals how vital these items are to a sure kind of traveler.

Gamification of the factors business creates an addictive attraction, says Rob Burgess, a former funding banker behind Heading to the pointsa journey web site devoted to lodge loyalty and factors packages.

We met for lunch on the Sq. Mile, however the day earlier than he had taken his teenage son to Paris (with factors) they usually ate at a flowery sushi restaurant for subsequent to nothing because of his £150 meal credit score overseas Amex Platinum.

“It’s human nature to have the benefit of defeating the system,” he smiles. The 40,000 individuals who subscribe to his Saturday e-newsletter absolutely agree. However to beat the system, you need to make investments time in understanding it.

There’s free cash to be made, however there’s additionally cash to lose if you happen to take your eye off the ball. Most playing cards have an annual payment; Ridiculously excessive rates of interest are charged if you happen to do not clear your complete steadiness every month and the temptation to overspend to earn factors is at all times current.

And if too many individuals get too good at gaming the system, airways can transfer the goalposts. Rob believes BA’s adjustments will make it “very troublesome, if not unattainable” for leisure vacationers to attain the coveted “gold” standing sooner or later.

Nonetheless, January is the height time of yr for newbies relating to accumulating factors. American Categorical Most well-liked Rewards Gold Card Presents 30,000 Membership Rewards Factors Signal-In Bonus if you apply earlier than January 14 (these may be redeemed for Avios, in addition to a myriad of different airline and lodge factors packages).

What makes so many males detached to factors? How far will they go to maximise their factors assortment and redemption method – and is it actually value it?

Spend £25,000 in your card in your first yr and you will get an additional 12,500 factors. There are double factors on abroad spending and airline transactions. See how straightforward it’s to get sucked into this rabbit gap?

Nonetheless, only some handle to make an excellent revenue from factors programs, he notes. As a former banker, he’s an professional in calculating factors. The important thing lesson? Redeeming your factors for enterprise or firstclass flights provides you the utmost redemption worth.

When paying with factors, a firstclass fare prices three to 4 occasions greater than an economic system fare. However if you happen to paid money, it may price 10-20 occasions extra – so the flat mattress premium cabin presents (surprisingly) a lot better worth.

“In case you’re the type of one that would pay £3,000 to fly firstclass, meaning you have obtained Actually you saved £3,000 of your individual cash,” he says. Understanding that this quest is about getting higher worth reasonably than decrease costs explains why so many rich persons are obsessive about accumulating factors. Plus, if you happen to journey quite a bit for work, the factors you accumulate on flights and resorts are successfully free.

Barry, an actual property developer and kitchen designer, was impressed to gather factors 10 years in the past by a fellow enterprise proprietor who channeled a lot of his work-related bills by way of factors playing cards. He is by no means paid for a luxurious flight in his life, however over the previous decade his pastime has taken his household to journey first or enterprise class to Orlando, Cancun, the Caribbean and extra. different areas for the value akin to taxes and air freight costs. seats.

It is unhappy to be taught that I’ve by no means flown something aside from economic system class. I hardly ever fly and like to forgo lounges and flat beds to spend cash on first-class experiences in my chosen vacation spot. You possibly can’t miss what you by no means had.

But one of many hidden advantages of paying for airline tickets with factors is flexibility. Give 24 hours’ discover and most airways will solely cost a nominal payment of £30 to alter your flight. Boards are stuffed with ideas for reserving a flight, similar to utilizing SiegeSpy to inform you as quickly as new seats seem or HeadquartersGuru to view airline seat maps.

Double or triple accrual is Barry’s prime tip for maximizing your factors assortment in 2025. Use British Airways providers Avios shopping site as a portal to different retailers’ web sites, and you will accumulate additional factors. On the time of writing, you may get 16 Avios for each £1 spent at Harvey Nicks and 18 at Diptyque. Nice information if you happen to’re the kind of one that would not thoughts spending £85 on a classy candle. However there are at all times offers on lodge reserving websites, journey insurance coverage and different necessities that you simply’d in all probability want to purchase anyway.

One of many hidden advantages of paying for airline tickets with factors is flexibility. Give 24 hours’ discover and most airways will solely cost £30 to alter your flight.

Subsequent, Barry selects one in every of his 10 playing cards from a cell pockets app referred to as Curvewhich provides one other potential layer of accumulating factors or cashback – and eventually, there are the factors on the cardboard transaction itself.

Nectar Card Points may be transformed to Avios; you can even earn them on Uber rides. Desire a drink? The wine leaflet Avios at all times has good offers. Vitality firms together with Octopus will allow you to pay your invoice on Amex (boards advise establishing a low worth direct debit after which topping it up). You possibly can even pay council tax payments utilizing a Visa or Mastercard factors card.

But Barry warns: “To get a good variety of factors, you need to do it for every part, each time. It is over or do not trouble.

A variety of my colleagues on the FT – all males – are fiercely on this subject. Dare I say it, I believe it even made Christmas buying gratifying for a few of them!

This brings me again to Barry’s spouse, Cheryl. She was blissful to take care of the youngsters so Barry may jet off and booked a sea swimming vacation in Türkiye – and now she will share the million factors with him.

Claer Barrett is the editor of the FT and the creator of ‘What They Don’t Teach You About Money‘. claer.barrett@ft.com Instagram @Claerb