There many types of travel reward credit cards in the market. This article presents practical suggestions on how you can choose the right travel reward credit card for you.
Frequent Flyer Cards and Generic Miles Credit Cards
You can choose to get a Frequent Flyer credit card that is sponsored by a particular airline or a generic miles reward card with no affiliations. What’s the difference between these two?
If you often fly with a major airline, you may consider applying for a Frequent Flyer credit card that is sponsored by your favorite airline. Sponsored credit cards give more points for their loyal customers.
However, if you fly with different airlines, you may consider getting a generic miles reward credit card. These reward cards allow you to make reservations with any carrier so you can have more options. A generic travel reward credit card gives you the flexibility to redeem points from any airline at any time.
Choosing Your Travel Reward Credit Card
Choose a travel reward credit card that fits your lifestyle. You’ll want to do your research first and weigh your options well. Don’t make decisions in a hurry just because the offer sounds exciting.
You can also visit credit card review web sites to see potential travel reward credit cards. However, remember that online review sites do not give the full details about each card. To find out the real deal, be sure to visit the official credit card’s website and read the Terms and Conditions.
Fees and Interest Rates
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Travel reward credit cards have higher APR than other reward cards. The average APR starts at 15% to 20% depending on the credit card company. Aside from the interest rate, most reward credit cards carry annual fees that range from $30 to as much as $100. If your travel reward credit card carries an $80 annual fee, is it still really worth keeping? Will the rewards you earn be really more than the yearly cost you must pay to keep your card active?
Last but not the least, in order to enjoy good rates; you’ll want to check on the status of your credit. The best travel reward credit cards often require good or even excellent credit history. If you have low credit score, you may not get approved for the travel reward card you’ve chosen. Thus, it’s a good idea to check your credit report to see if you can get an approval.
Ann Wilson is the head writer of Reward Credit Card Site. This resource provides consumers with valuable reviews and information on the best credit card reward programs. Its main objective is to help people to take advantage of credit card rewards and start earning reward points. Copyright © 2008
