|
|
 |
| Homepage
> Loans > |
How
To Get The Most Mileage Out Of Mileage Credit Cards |
Having a good credit card really comes in
handy - especially when it can provide the owner with ways to save
while simultaneously offering other great benefits. Making the
choice between miles credit cards is not all that hard, but there
are a number of things you need to look for. This article will point
out some key features.
Two Main Types of Cards
Airline mileage cards come in two basic types. First, there is the
card that is issued by the various airline companies. In most cases,
the benefits apply only if you fly on their particular airline.
Obviously, this can only be a benefit to you if you live near an
airport that this airline flies into. A second type of mileage card
is the one that is issued by a bank. As far as usability goes, this
one may be the better one because the mileage on these miles credit
cards can be used on most airlines.
How Miles Are
Accumulated
Another feature worth thinking about is the way
that miles are earned. Of course, there is usually the initial offer
(attraction) to the card that promises to give you so many miles
when you make your first purchase.
Here are other ways:
?Card Application Miles Bonus: 5,000 - 25,000 miles
?Miles
per air mile traveled
?Miles per dollar spent
These features will vary between each miles card. Be sure to know
about each feature and compare. Just because a card sounds good may
not mean that it is the best one for you. Another thing to consider
is when the miles expire. On some cards, they expire after five
years, whereas, on other mileage cards - they never do.
Time Before First Trip
Find out how many points are needed
for you to take advantage of your first free flight. You may find
that the benefits are such that they really will not do much good in
your situation. Mileage cards privileges are often tiered between
the different levels ?silver, gold, and platinum ?and each of these
levels may mean a different length of waiting time, or cost
involved. The advertised promises may refer to another level than
what you are in.
The Interest Rate
This standard
consideration of any credit card should not be overlooked. If you
have balances on other cards you will want a card that has a 0%
balance transfer, and a low interest rate. This will enable you to
receive 0% interest on your current balances, and the benefits of
miles credit cards. Remember that the initial features of the card
will expire - sometimes as early as 90 days. Interest on the card
after that time, or if you have late payments, could land you in the
maximum interest category.
Annual Fees
The fees on
mileage cards may be high enough to offset the value of the card -
for some. Fees range from around $25 to $180 per year. In addition,
the interest on miles credit cards is usually just a little higher
than a regular credit card. Of course, if you pay off the bill on a
monthly basis, then the interest will not affect you.
The
benefits of a mileage card is to your advantage if your fly often,
pay the full bill monthly, and use it for your many other purchases.
Even greater benefits can be received if you put all your travel
expenses on one card ?enabling you to accumulate even more. But, on
the other hand, if you do not travel a lot, then you might consider
another kind of card - one that you could take fuller advantage of.
|
|
|
|
