Like many people who leave their hometown, I travel frequently during the holidays. No matter how much planning I do, the cost of flights can be a gut punch — this year it cost my wife and I $1,900 in airfare just to Christmas trip. I knew I had to find a better way to save on travel in the future.

The average American saved $515 on travel this past holiday season using credit card rewards and points, according to a report. IPX1031 studya national financial company Fidelity. I couldn’t pass up this savings opportunity.

After some research, I found two rewards credit cards that would get me $550 welcome bonusand earn 30,000 extra miles and earn money back on my everyday purchases. Now that I’ve won these awards, I stash the money in a high yield savings account I will therefore continue to earn interest on the bonus. Here’s what I did and how you can do the same.

The two rewards credit cards that earned me $550

I chose two credit cards that fit my lifestyle and spending: the Alaska Airlines Visa Signature® Credit Card and the Apple Card*.

The Alaska Airlines Visa Signature Card

Choose it Alaska Airlines map was obvious to us. Alaska Airlines is our airline of choice every time we travel – a major airline in our home state of Washington – and we typically use it at least three times a year. This card offered a 30,000-mile welcome bonus, a $99 companion rate, and a $300 cash bonus after spending $4,000 or more on purchases within the first 90 days of opening an account .

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Earning a welcome bonus can be an easy way to earn rewards for planned purchases. We used the credit card to pay for these flights and then refunded our credit card balance. We also decided to use this card to pay for a garden project. These two elements allowed us to reach the spending threshold of $4,000 to earn the $300 welcome bonus. Since we had already budgeted for the purchases and paid off the card immediately, we didn’t spend too much money and didn’t have to worry about credit card interest.

The Apple Card

The Alaska Airlines card would be great to help us earn rewards and discounts on future travel, but it wasn’t the best card for everyday purchases. So we found another card that we could use more easily: the Apple Card.

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We decided the Apple Card was the right fit for us because its rewards categories fit well with our normal spending. The Apple Card offers 3% cash back on Apple purchases and at select retailers like Uber, Walgreens, Exxon, and Mobile, which we all shop at regularly. You also get 2% cash back on all other purchases when you use your iPhone to pay with your Apple Wallet.

As an added bonus, we could earn a $250 sign-up bonus by spending $2,500 in the first 90 days of account opening. Unlike most credit cards, the Apple Card had something even more eye-catching: a high-yield savings account with a 3.9% APY.

I was able to earn the welcome bonus by putting my groceries, Uber rides, food delivery service charges, and a new couch on the Apple Card. The sign-up bonus and any cash back we earn are automatically transferred to our Apple High Yield Savings Account. I love this benefit because I will continue to earn interest on these savings.

Learn more: Stop Making These 4 Mistakes When Cashing Out Your Credit Card Rewards

How I redeemed rewards for cash

The total cash back earned from signing up for both cards was $550. However, I did not receive this amount as an instant deposit into my bank account.

The Alaska Airlines credit card welcome bonus was applied as a credit to my bill, reducing the total balance owed on our credit card. This allowed us to save money on flights we had already purchased for Christmas.

With the Apple Card, the bonus was added to my Apple Daily Cash, which was deposited into my Apple High Yield Savings Account. I’ll leave it there and accrue interest until I’m ready to use it.

How I maximize rewards

I didn’t choose any of these cards for one-time gains. These have been carefully selected to meet our long-term goals of saving on travel costs and building a reserve of bonus savings.

With the travel rewards earned through the Alaska Airlines card, I can potentially fly two round trips for free, depending on the dates and distance of the flights I book. With the companion pass, my wife will also be able to travel with me for $99 (plus taxes and fees). We’ll also earn miles on travel purchases we make with the card, which can be applied to future trips.

Our savings with the Apple Card are a little different. It doesn’t offer miles like the Alaska Airlines card, but automates reimbursement to our savings account. Since I opened the account, I’ve already saved $321, and more cash back rewards are automatically transferred every time I make a purchase with the card.

I also don’t plan to touch the money in my new savings account. I plan on it continuing to grow on autopilot and turning it into a nice rainy day bonus fund. This is a great strategy if you need a boost to build your savings in the short term.

The double-edged sword of rewards

There are two sides to every coin. Credit Card Rewards can either save you money or put you in debt. Learning to use credit cards responsibly is essential to getting the most out of your rewards.

There’s no point signing up for a credit card to earn welcome bonuses if you can’t meet the spending requirements with your usual spending. As someone who recently became debt free, trust me, it will end up haunting you in more ways than one.

Most credit cards currently have average rates above 20%, which is significant. If you fail to pay your bill, you can rack up significant interest very quickly.

Finding the right card and welcome bonus for your spending is a great way to earn rewards, but only if you budget for your spending. I’m happy with both cards we chose because we earn extra money for our savings. Plus, I earn rewards on the purchases I make, which can help me save on future trips. But strategies like mine only work in your favor if you don’t overspend to reach the welcome bonus. Otherwise, it risks falling into debt.

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*All information about the Alaska Airlines Visa Signature® credit card and Apple Card was collected independently by CNET and has not been reviewed by the issuer.