In today’s challenging economic times, it is more important than ever for consumers to get the most from their money. The vast majority of consumers own at least one credit cards. Credit cards are a convenient way to make purchases, and many cards also offer some attractive rewards.
A miles card is a credit card that gives you credit in airline miles for the dollars that you spend. You use the card that the store or online like any payment method, and you can check your statement to see how many airline miles you have accumulated. The more you spend, the more miles you will accumulate. The actual formula that converts dollars to miles varies by card.
The application for a miles credit card will require you to furnish your personal information and agree to a basic credit check. If your credit score is not at an acceptable level, your application can be denied. Since many cards are tied to a specific airline, it is wise to choose a miles credit card that is associated with an airline that you travel with on a regular basis.
To get the most for your rewards dollars, it is important to select the right miles card. Miles credit cards come in many different varieties, and the right card for you will be determined by your financial needs and travel plans.
First, determine if the miles card is free or if yearly fees are assessed. Some miles credit cards offer a very generous rewards program, but they require an annual fee of over $100. You should also check the interest rate on the card if you plan to carry a balance from month to month.
It is also vital to determine how the rewards program works. Can you use your miles on any airline or are you restricted to one company? Do your miles ever expire? Can your miles be used during peak travel days and times? Can your points be redeemed for other rewards in addition to airline miles? Finding the answers to these questions will help you narrow down your search for the right miles credit card.
Once you have received your miles card, use it as often as possible. If you place all of the purchases you are already making onto the card each month, you will accumulate miles quickly. Carefully review your statement each month to be sure that you are getting the proper mileage credit for the dollars that you spend.
Like all credit cards, miles cards should be used with caution. It does not make financial sense to pay high interest fees just to earn free airline miles. If you use your miles card with care, it can be a great way to fly to wonderful destinations without breaking your travel budget.
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