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Quick Points: Save big by catching hotel and airline price drops

Oct. 01, 2021
4 min read
DoubleTree Resort by Hilton Fiji
Quick Points: Save big by catching hotel and airline price drops
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TPG's Points and Miles team has been writing weekly posts in its new Quick Points series. This series aims to help you earn points, redeem miles and maximize your travel with bite-sized 500-word posts.

In today's Quick Points post, I'll tell you about how I check for hotel and airline price drops -- and why you might want to, too.

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Let's be honest: Whether you are traveling domestically or internationally, there's a lot of uncertainty surrounding travel right now. I'm still booking a lot of trips, though. After all, as TPG's Summer Hull elegantly put it: Travel is a lifeboat through the pandemic. But with all the uncertainty, it's best to book travel you can cancel without any fees.

Luckily, most hotel award nights are freely cancelable until shortly before your stay is scheduled to begin. And you can often find good-value cash rates that allow you to cancel until a few days before arrival. Meanwhile, some airlines allow you to cancel award flights -- and in some cases, even paid flights -- for no fee.

Related: Pre-pandemic to now: 8 ways I’m booking travel differently

(Photo by Katie Genter/The Points Guy)

But being able to cancel flights and hotels for free doesn't just give me flexibility if I decide not to travel. It also lets me cancel and rebook if I find a better deal. So, I have a reminder every two weeks to check for price drops on upcoming reservations. I also check some programs more frequently since I've been amazed by how often I've caught drops.

Of course, you'll have the most luck catching price drops for paid rates and in programs that use dynamic pricing. I frequently see price drops in my IHG Rewards award nights, Hilton Honors award nights, Marriott Bonvoy paid nights and Southwest flights (both award and paid). For example, back in April, I booked a five-night stay for August at the Four Points by Sheraton Bogota for $262. But, shortly before my stay, I was able to cancel and rebook for $220. The lower rate even included more perks and let me save $42 on my stay.

I've also caught some price drops in Marriott Bonvoy awards when one or more nights of a stay drop from peak pricing to standard or off-peak rates. For instance, I booked a two-night stay at the Category 5 Le Méridien Maldives Resort & Spa back in May for 70,000 points. But, earlier this month, I noticed the price dropped to 60,000 points, so I rebooked and saved 10,000 points.

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Related: Airlines that offer you a credit if the price of airfare drops

Southwest makes it easy to change to a lower fare. (Photo by Summer Hull/The Points Guy)

Some programs let you quickly change a current booking when you see a price drop. For example, it's easy to reprice a Southwest flight when the fare decreases as long as you don't have a Southwest Companion Pass companion attached to your reservation.

But some programs don't allow you to change your existing reservation to a lower price and you might have to get creative. For instance, if a loyalty program allows you to make duplicate reservations (and you have enough points or miles to do so on an award ticket), it's best to book at a new reservation at a lower rate before canceling your existing reservation at the higher rate. Otherwise, you'll need to decide whether the risk of a price jump between when you cancel and when you rebook is worth the potential savings.

Catching price drops can save you serious points and cash. So, I recommend setting aside time every few weeks to check current pricing on your freely cancelable bookings. If your experience is like mine, you'll likely see more price drops than you expect.

Featured image by KATIE GENTER/THE POINTS GUY
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
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  • Some may have trouble using Uber/food credits
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  • Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
  • Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
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  • Choose the color that suits your style. Gold or Rose Gold.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.
  • See Rates & Fees
Apply for American Express® Gold Card
at American Express's secure site
Terms & restrictions apply. See rates & fees
Best for the well-traveled foodie
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

4XEarn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
4XEarn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
3XEarn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • Intro Offer
    Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

    60,000 bonus points
  • Annual Fee

    $250
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent/Good

Why We Chose It

There's a lot to love about the Amex Gold card. It's been a fan favorite during the pandemic because of its fantastic rewards rate on restaurants (that includes takeout and delivery in the U.S.!) and U.S. supermarkets. If you're hitting the skies soon, you'll also earn bonus points on travel. Paired with up to $120 in Uber Cash (for U.S. Uber rides or Uber Eats orders) and up to $120 in annual dining statement credits at eligible partners, there's no reason that the foodie shouldn't add this card to their wallet. Enrollment required.

Pros

  • 4x on dining at restaurants and U.S. supermarkets (on the first $25,000 in purchases per calendar year; then 1x)
  • 3x on flights booked directly with the airline or with Amex Travel
  • Welcome bonus of 60,000 points after spending $4,000 in the first six months

Cons

  • Weak on travel outside of flights and everyday spending bonus categories
  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber/food credits
  • Few travel perks and protections
  • Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
  • Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
  • $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
  • Choose the color that suits your style. Gold or Rose Gold.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.
  • See Rates & Fees