Any information you get that would enhance your ability to make a good decision on the type of airline miles credit card to use is very important. One of the things we would consider here is the type of card you should choose. Are you better off with an airline sponsored card or a bank sponsored card?
The first thing you have to find out is what difference there are between a card from a bank and one from an airline.
A bank sponsored card is a card that is issued by a bank. You generally get more options for redeeming air miles from a bank issued card. Their rates are also a bit cheaper. Generally, you can fly with any airline , with the rewards you get on your card.
Airline sponsored credit cards are basically tied to that airline. Most of the times, you can only cash into your bonus by getting airfare from the airline. This is very limiting because you may want to travel to a destination that is not on the flight schedule of the airline at that particular time.
The above was just a simple explanation. Having known this, it is now easier for you to decide which card is more suitable for you.
Airline Funded Credit Cards
This card is most suitable for people who use one airline. They would not have any issues with free miles that can only be redeemed on the airline.
If you want to really benefit from an airline mile credit card, ensure that your balance is paid. Use your credit card only as plastic money and not means for loan. When you do not pay your balance as they get due, you will discover that you have to be saddled with the high rates that these cards are known for.
Banks Funded Credit Cards
You have more options with these cards. You are allowed to choose which airline you want to go and redeem your air miles. You could also decide to redeem them in other ways like paying for hotel rooms, car rentals, etc .
These types of cards also require less air miles for you to redeem your rewards. There are however more details that you would get to know when you read the terms and conditions.
Generally, airline miles credit cards can be very helpful in getting you rewards for using your credit cards just the same way you would use it normally. If you travel a lot, you can really can benefit from this card because you would use this card just as you would use your other credit card and your frequent traveling would help you get air miles that you can then redeem for other travel expense or free ticket if you want.
There is one point that cannot be overemphasized. The rates on these cards are a bit higher than on other types of cards so when you plan to start using it, you must also plan to pay your balance promptly. It would not profit you to earn bonuses and then at the end of the day pay out more in interest for failure to pay your balance when due.
If you are very prudent, you would enjoy the airline miles credit cards.
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