Insider tips on getting the best airfare deals

Updated: 11/26/2012 02:12:42 AM MST

You might think you know how to find the best rate for airline tickets. At least I did. Simply plug your travel dates into your favorite online portal I happen to like Orbitz's interface and dig out your credit card, right?

In reporting this story, I found out I was oh-so wrong. After chatting with travel industry experts I learned that there are a whole lot of great insider tips to help you snag a great deal for the next time you travel by plane.

Check out Matrix Airfare Search (or download the app for iPhone and Android) to unearth the lowest one-way or round-trip fares. You can't book tickets through this software, but experts say that it is very accurate in rooting out the lowest prices. "The Matrix is the backbone of most, if not all of, airline and online travel agent fare-search tools like Orbitz and Travelocity," says travel consultant Omar Ghumrawi. "The Matrix software will even find 'hacker fares' with the outbound leg on one airline and the return on another, if the price is cheaper." http://matrix.itasoftware.com/

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But not too early. "When searching for the best price, it's extremely important for travelers not to book their flights too late or too early," says Jessica Casano-Antonellis, the spokesperson for online flight aggregator Kayak. The site analyzed a year's worth of data (100 million search queries per month) and found that the lowest average domestic airfares appeared 21 days prior to departure. A week later, fares climbed by an average of 5 percent, and the week before departure, fares were a whopping 30 percent from the lowest price. For international travel, Kayak's research found that the cheapest fares are posted 34 days before departure.

Book in the morning

This is a favorite tactic of Mark Drusch with the online travel technology giant Fareportal and a spokesperson for the aggregator OneTravel. "Airlines update their revenue-management systems overnight and often will release limited inventory of lower-priced seats after reviewing booking patterns."

Or book on Tuesdays

Most people shop for flights on the weekend when they have spare time. But on Mondays, airlines crunch the numbers for that week's prices, and on Tuesdays, they mark down fares on inventory they hope to move.

Your best bet is Tuesday, Wednesday or Saturday, says Scott Mackenzie, founder of the travel blog Hack My Trip. "Remember that most business travelers will be flying out on Monday and returning Thursday or Friday," Mackenzie says. "Leisure travelers heading on a weekend vacation will often depart Friday and try to return Sunday. Sunday is often the most expensive travel day because leisure travelers know they must return in time for work on Monday." Kayak found that domestic travelers can save up to 21 percent by departing on Tuesday or Wednesday. http://hackmytrip.com

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Maximize travel lulls

Book travel during slack periods, including the two weeks after Thanksgiving and the three weeks in January after the holidays. Schedule trips to Europe in the winter.

Membership privileges

Check with any membership organizations you belong to. British Airways offers discounts to AARP members, who also are eligible for fare breaks at Expedia's AARP Travel Center. expedia-aarp.com

Maximize stopovers

This is especially effective when traveling to multiple cities, says John Bardos, who blogs at JetSetCitizen.com. Typically, if your flight has a layover, you can extend it for less than $100, explore the city for several days, and then hop back on the final leg of your flight to your next destination. "For example, if you are traveling to Europe, you will likely travel through London," Bardos says. "Instead of buying a ticket to London and a second flight to Stockholm, just extend your layover in London for however long you like, then continue to Stockholm on the same ticket." jetsetcitizen.com

Go to auction

"If your travel plans are flexible, consider naming your own price at Priceline.com ," says Andrew Schrage, editor of the personal finance website Money Crashers. You won't know the name of the airlines or the exact departure and arrival times until after you book, but you can easily save more than 50 percent on your flight by going this route, says Schrage. But, he warns, "Keep in mind that layovers may be a part of your itinerary." moneycrashers.com and priceline.com