Critique my trip savings plans

[Tripscarcare]

Get PC card, collect your grocery points etc, then buy gift cards. We had a bunch of $50 CDN gift cards we got with points, but when at Disney the exchange rate knocked them down to $36xx value once converted. No big deal it point funds anyways.

 

[Honeypot]

As someone else mentioned the Cobalt is one of the best cards in Canada and would work well for you in this case, provided that you can/do grocery shop at places that take Amex for your groceries. The 5x is great for racking up the points very quickly, and the points are flexible which is great.

Examples of ways it can help you -

Cobalt MR points transfer 1:1 to Aeroplan, so you can move points over to help with flights.
MR points transfer to Bonvoy 1:1.2 so you can move points over to help with hotel.

You can also buy Disney gift cards at grocery stores where you are shopping, and get 5x on that purchase (to put towards flight and hotel) and then use those gift cards for your ticket or other purchases at Disney.

The nice thing about the Cobalt is that you don't only have to rely on the welcome bonus, the points continue to come in year after year.

 

[dancin Disney style]

After an amazing trip last year to WDW and Universal, we haven’t stopped thinking about returning to the magic.

But it’s sooo expensive. Especially for us Canadians.

So this time I’m trying to think of all reasonably possible ways to cut costs (caveat: without compromising on staying on property).

Ideas so far:
1. Try to stay at Swan/Dolphin using Marriott points. Signed up for Marriott Amex to get 65,000 bonus points and get collecting.

2. Focusing on Aeroplan points to cover 1-2 of our 4 round trip flights. Signed up for Aeroplan credit card for bonus points as well.

3. Did a CIBC rewards credit card over the winter and used the hotel refund method to bank $900 for the vacation fund.

4. Skipping the special dining — last time we reserved Space 220 and Homecomin’. Space was very cool and the food was great but not worth the $600ish CDN that hit our Visa. Homecomin’ was not that expensive but it was our second-most expensive and the food was nothing special.

5. Signed up for credit card that charges zero foreign exchange fees. We’ll use this for every trip expense (last year we paid 2.5% transaction fee without realizing).

That’s all I’ve got! Any critiques?

All those credit cards ...WOW, that's a massive hit to your credit. Not a wise thing to do.

 

[ElCray]

For Space220 - just do the Lounge! Way cheaper. We had 5 people and it was about $180 USD for food & drink. …and we were full! (We had to split into party of 2 and party of 3, but that was no big deal - we still passed Apps between the tables)

The reason I can do multiple trips per year…no kids. I just have to pay for myself. If we stay on property we don’t rent a car, if we stay off property - it’s in a timeshare. (My friend has one and my mom has one …so I’m fortunate I don’t have to pay the maintenance fees, they just charge me my share of exchange fee)

…and then there is the AP. For me it’s been 100% worth it. Including the money I have saved for the non-AP’s that have travelled with me. (The money saved on Parking, Merch & Food add up!)

And look into Annual Passes for Universal as well! The entry level made sense when there were like 3 days of park visits, last time I did the math. Just be mindful of the blockout dates!

We got three entry levels + 1 at the level that includes parking. We also got them with the 12+3 months special. That way they were good for a few trips.

 

[bwr827]

All those credit cards ...WOW, that's a massive hit to your credit. Not a wise thing to do.

It’s a marginal hit, not as big a deal as one might think.

 

[ElCray]

It’s a marginal hit, not as big a deal as one might think.

And recovers quickly (and may even increase) with prudent use.

 

[accm]

5. Signed up for credit card that charges zero foreign exchange fees. We’ll use this for every trip expense (last year we paid 2.5% transaction fee without realizing).

You've gotten lots of good tips, but I'd compare the value of using a zero foreign exchange fee card while there vs buying Disney giftcard in a grocery store with a card that gives you 5x points (like the Cobalt).

 

[anijac1412]

So many great tips here! I'll add just a tip about the USD... Don't wait until the last couple of week to go get some cash converted. If you see the dollar at a decent price you're comfortable with, go exchange whatever you can and then keep it locked up in your house. I, like many others, went the "free gift card from PC points" route for some spending money for my kids.... I sort of regretted it this time, because although we avoided conversion fees, the USD rate had risen 3 cents by the time of our trip... I kept saying that if I had just used those point to get free groceries, and in turn put the saved grocery money aside to convert to USD at the time, I would have actually saved more money. If you don't like carrying cash, then it's another story... But definitely something to keep an eye on. I expect the dollar to go a little crazy this year with everything going on these days so it's nice to just go convert some while you see it "low".

And a second thing on the topic of the USD, I got a TD USD Credit card years ago that was included with the TD Borderless USD account.... Best decision I EVER made. From my rule above, I convert USD cash when I feel comfortable and store it in the Borderless account. And I use my USD Credit card while in the states to avoid any conversion fees. When I come home, I pay it off with the reserved funds from the Borderless account. I believe the account without any discounts is $4.95 USD per month (so around 60 per year), which is stillnway below many other standalone CC fees. I am a TD customer and they gave me a discount so I get it for only 1.95 a month, which makes it an even better deal. It's definitely worth having a 'safe' spot to reserve some USD funds and the included USD CC is a bonus. If you're with a different bank, they may have similar options.

 

[anijac1412]

I have one last Credit Card mention I don't see suggested often... The TD First Class Travel Visa.... (again, I am a TD customer so this highly affects my CC choices lol... I do have an Aeroplan AMEX card as well for Air Canada flights). Unlike Mariott, Aeroplan, and others, the the TD Travel visa (or similar travel reward cards from other banks) will let you redeem your points in dollars for ANYTHING related to travel! Flights, hotel, rental cars, cruises, and yes, DISNEY VACATIONS.... We have successfully redeemed points for Disney trips in the past, like on our Disney resort deposit for Pop Century. I just charge it to my TD visa, they convert it (with fees of course but it doesn't matter because it's "free"), and the next month I ask to redeem points to cover that item. BOOM, Pop Century just cost 200 less. We have previously done Universal tickets this way too, as well as a the entirety of 2-night Disney resort stay we had before a cruise. My husband and I both have this card so together, and splitting vacation costs across both, we have saved tones of money this way. It definitely gives you more freedom, than being stuck to a certain hotel chain or airline.
Definitely an option to consider, especially if you can get in on a good bonus offer.