How to Compare Frequent Flyer Credit Cards

Most consumers are aware that they can earn thousands of frequent flyer points just for using their credit card for ordinary purchases, but all cards are not created equal. In fact, some frequent flyer cards charge their holders dearly for the right to accumulate miles and points. Before simply selecting the first option available, consumers need to learn how to compare frequent flyer credit cards.

The interest rate associated with frequent flyer credit cards may not worry some consumers due to the fact that they tend to pay off the entire balance every single month, but other potential cardholders may be alarmed when they discover what finance charges they could potentially incur. An individual comparing various options needs to know whether the interest rate is fixed or variable, and they also need to determine whether an introductory rate is currently in effect. Teaser interest rates may only last for a few months, so prospective cardholders need to be aware of what the finance charges will be after the promotional period.

Some frequent flyer credit cards have an annual fee that is attached to all accounts, and many prospective cardholders automatically avoid these products. However, most consumers find that the annual fee may be completely worth it depending on the benefits the card offers. In fact, some of the cards with annual fees allow higher numbers of miles and points to be accumulated. A slightly higher annual fee may also provide a lower interest rate, so no setup is always better than another. The most important thing is for consumers to know exactly what they are dealing with, and what it will cost them or save them.

The ability to easily redeem points and frequent flyer points is a critical component, and most consumers would gladly accept less accumulation for easier access. Many of the banks and credit card lenders make it possible to redeem rewards online and these companies are no doubt the most popular. A consumer needs to understand the process that will be required for them to make their points and miles useful. The expiration period of the points and miles is also a critical factor that prospective clients must learn upfront. Some companies allow the miles and points to rollover for several years, but some require an annual expiration. Most consumers will tend to choose the ones that rollover, but it is important to note that sometimes the limited points and miles accumulate quicker.

Individuals that carry frequent flyer credit cards often are able to enjoy free vacations and significant savings, and there is nothing quite like taking a trip with miles that were accumulated by making typical day to day purchases. All of the options have various features and benefits, and the best possible product can be selected after reviewing the above criteria.

Elisa Vuelo writes in her up-front style in dealing with travel, cheap flights and personal finance. Get more information on frequent flyer credit cards and learn how to earn frequent flyer points on her website.

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