Air Miles Credit Card - Things To Consider
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Air Miles Credit Card - Things To Consider
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By:
Ron King |
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Are you looking at getting an air mile credit card? Look before you get off the ground, because not every air mile reward credit card will give you with the benefits, bonus miles and interest rates that you need. Here is some information that will help you ascertain if an airline credit card is for you.
An airline sponsored credit card only allows you to focus on one specific airline. If that particular airline controls the majority of the destination routes in your area, it will afford you convenience and efficiency and it will be quite economical. Bank sponsored credit cards allow you further freedom. How come? Because the air miles that you gather can be applied with many airlines. If you have no airline in your region that controls most destination routes, this is the card that will be the best to you. Another plus is that often the least amount of air miles called for before you can use them for travel is lower with an airline sponsored card. However, use extreme caution. Bank sponsored credit cards are open to a lot of fine print.
Membership and annual fees can vary quite a bit for different brands of cards. Many major credit card companies offer standard, gold and platinum air miles credit cards. Realize that the better the option, the higher the fees. Gold and platinum cards have high credit limits but membership and annual fees are also higher and these mount up quickly. Most major credit card companies offer introductory air miles cards with 0 % interest. Why? Because they desire your credit card business. If interest rates are of concern for you, an air mile reward credit card is not the card for you since interest rates tend to be quite high. Most air miles credit cards have a small number of skymiles that have to accumulate before you earn a free or discounted trip. Make sure to read the fine print and then read it again. Be sure you understand all of the stipulations.
If you travel frequently for business or vacationing, an air mile credit card can be very beneficial. With these kinds of cards, you use your credit card to purchase any necessary goods and services. In return, you collect a reward in the form of points and then you redeem them for air miles. You then use the air miles to collect free or discounted trips to the destination of your choice. As an added bonus, airline credit cards frequently offer bonus air miles at chosen stores, or on specific travel destinations. Typically, both airline and bank sponsored cards give bonus air miles when you sign with their company. Remember to read carefully the conditions and offers from any company. Like all credit cards, the interest rate may change over time, and when utilizing your bonus airline miles, special conditions may apply.
There are a few disadvantages to having an air mile credit card. Sometimes these cards, as stated earlier, have much higher interest rates than standard cards, which can add up quickly if you don't pay the total balance off each month. Another issue is that these cards are often used for unnecessary purchases in order to accumulate points to be switched over for air miles. There are many things to look at with air mile credit cards. Does the card accept balance transfers? What sort of purchases are eligible for rewards and how much do you have to spend in order to collect reward miles? As with all credit cards, an air mile reward credit card has to be used responsibly in order for the cardholder to glean the benefits. To quote a famous scholar, let the "flyer" beware!
For more info, check out the articles about Learn How To Keep A New Credit Card or Choosing A Credit Card. Ron King is a web developer; visit his website Authoring Articles.
Copyright 2008 Ron King. This article may be reprinted if the resource box is left intact and the links live.
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