Who doesn’t like freebies anyways? Mileage cards are growing in number by each passing day. The use of these cards seems to be getting more and more attention with consumers of late. The simple fact is that consumers can derive significant benefit from mileage cards by using them judiciously with every day purchases.
The cards have some significant travel rewards and perks, offering the most obvious benefit that comes wit mileage card use. These are available through different sources and one of the best such sources are the financial institutions themselves.
More about Mileage Cards
There is no dearth of credit cards in the market these days. The only difference is in the services offered that vary from card issuer to card issuer. Not surprisingly, such cards are ideal card options for frequent flyers. People who travel a lot by air can derive superior benefits from this type of card offer.
While these miles are a definite potential perk for the owner, proper use of the card is required. The time period for redeeming the point earned from such cards is generally unlimited with continued use of the card but some companies have a point use limit of 2-3 years. Points are collected for travel purchases as well as regular card purchases and they are tallied up on an ongoing basis for the cardholder.
Personal Mileage Card
Anyone who travels often can use what is known as a personal mileage card. It is literally the same as a traditional credit card but the free travel is just considered an added benefit, not the primary benefit of the card. All that one needs to do is find the card offers from the wide variety of resources available online and narrow down your selection to those cards that offer a redeemable miles reward program. There is a huge number of these cards available in the marketplace. Virtually every airline has a corresponding credit card from which you can derive benefits, not to mention the wide variety of general rewards cards that offer miles as an additional benefit to their reward program. And for all of you international travelers, these cards are generally accepted by most of the international airlines.
The Right Mileage Credit Card
A mileage credit card should be thoroughly researched before cardholders consider applying for any card offer. You can be easily fooled by many of these offers if you do not apply due diligence to the research process. The secret is thorough research and an understanding of how these cards work.
A Mileage Card – For Your Dream Destination
The airlines industry knows the need of the travelers these days. With this is mind, mileage cards were devised and have found their distinct niche with consumers. While the mileage card has been available for years now and is growing in popularity, counter to many of the advertising and marketing campaigns that you see for this type of financial vehicle, mileage credit cards are not a good bet for everyone.
So remember, the key for any credit card offer, not just mileage credit cards, is research, research and more research. If you do your homework, you can't go wrong.
Robert Alan recommends that you visit CreditCardAssist.com for more information on finding great mileage card offers.
Doing The Math on Credit Card Rewards
With the increasing popularity of credit cards in America, it's no surprise that credit card companies and banks continue to flood the market with all manner of cards--rewards credit cards, cash back credit cards, 0% APR credit cards--all in an effort to appeal to as many potential cardholders as possible by offering a wide variety of incentives for use. The major problem with the strategy, however, is that there's often little explanation of exactly how credit card rewards work in their respective programs: what's the difference, for example, between cash back cards and rewards credit cards? And which card will, in the end, save you more? The variety and sheer number of rewards programs leaves some potential cardholders confused about the actual market value of their "points" values.
The most prevalent credit card rewards plans out there today fall into two different categories -- percentage-based rewards and points-based systems. The former offers a percentage of your money back on purchases in certain targeted categories, most commonly gas, travel, and in some cases entertainment. The latter offers a series of "points" for all purchases made, which can eventually be redeemed for reimbursements on various expenses, most commonly travel. The percentage rewards plans are fairly straightforward (except for a few obscure snags, such as how your cash actually gets back to you and how much you can earn in any given year through credit card rewards), but in the case of "points", it's often difficult to determine exactly what you're getting for your purchases using a points-based rewards credit card.
But in the end, it all comes down to the numbers, specifically the math formula used to calculate the rewards. A good percentage-based rewards credit card will offer anywhere from 3-5% back on targeted purchases (again, commonly gas and travel.) If you spend $1,000 at the pump in a given year (which, with current gas prices, is a pretty low amount to spend on gas in a year), you'll earn $50 back in rewards at a 5% rate. For a year's worth of gas purchases, $50 isn't a huge amount of money, but it'll fill you up twice and it's certainly better than nothing.
Compare this to "points" systems. One points system (from Chase's Free Cash Rewards Visa) offers a rewards rate of 2,500 points for $25, with one point earned for every dollar of purchases. That's only a 1% rate of return on the money you put into the card. Certain airline credit cards offer a slightly better deal, such as American Express's Blue Sky, which allows you to redeem points (again, one dollar per point) in 7,500 increments for a $100 reimbursement on travel expenses, meaning about a 1.3% rate of return. Again, even a low rate of return can help to offset any expenses you may incur, and can make certain purchases essentially free. But 1.3% versus 5% -- you do the math.
On non-targeted purchases, points systems and percentage rewards credit cards even out, since most percentage reward cards offer a 1% rate of return on the majority of non-targeted purchases you make. And the "points" cards can offer a few incentives that a percentage rewards credit card can't, such as bonus points on sign-up, anywhere from 1,000 to 15,000 and up (depending on the value of a given points system, of course.) But, assuming that you frequently purchase the targeted items on a percentage rewards credit card (and who doesn't make frequent gas, travel, and entertainment purchases?), you've got a slight edge with percentage-based rewards programs.
Check all of the fine print and consider your specific purchasing needs, of course, but remember one of the first rules of finance: when dealing with credit card rewards, always look at the long term and make sure to do the math.
Robert Alan recommends that you visit CreditCardAssist.com for more information on credit card rewards.
Getting Credit In A Hurry With Instant Approval Credit Cards
With the convenience of the Internet and our instant-oriented society, it is no surprise that financial matters can also be just about as instantaneous, too. The same can be said about instant approval credit cards, which appear only to take a few minutes to obtain. But before you apply to the first card you see, you might want to think about some of the pitfalls and important points here to help you get the best card for your situation and avoid unexpected problems.
Choice Of Card
Many types of credit cards now come with instant approval. You will have to look at the various types to properly select which one will be the best for you. Here are several instant approval card types from which to choose:
•Mileage Cards
This kind can be of great benefit to you if you travel a lot. They primarily reward you with air miles or rebates on gasoline. Other benefits might include free nights in hotels, discounts on car rentals, and discounts toward the purchase of a new car. These cards will often come with a large air miles starter package when you make your first purchase - possibly as much as 25,000 air miles. So if you are looking to make any kind of trip real soon, you might still have time to apply and receive your instant approval credit card before the trip and have the air miles applied.
•Balance Transfer Cards
If you are carrying a current balance on other high interest credit cards, then here is another reason why you may want to apply for an instant approval credit card with a balance transfer offer. Typically, many balance transfer cards allow you to transfer a card balance from another card and get 0% interest on it, but only temporarily. This can save possibly hundreds of dollars in a year's time. Be careful to note, though, the time length of this particular benefit tends to be short-lived -- anywhere from 3 months to 15 months. After that, you'll be paying a much higher rate of interest on the balance.
•Cash Rebates Cards
This type of card is really handy if you use a credit card to make most of your regular purchases. They allow you to get either points or rebates anywhere from 1% to 6%. The higher levels of rebates are for your purchases of groceries, gas, and medicines. Other items may receive anywhere from a 1% to a 3% rebate. If you never had a reason to use a credit card for all of your purchase activities before, here is a good one. Watch out, though, for annual fees -- the better card offers do not have them! With the right card, significant savings could be coming your way in the way of an instant approval credit card.
Other Things To Look For
Each of the instant credit cards have other features that you need to compare. For instance, the regular interest rate – once the special introductory offer runs out, will kick in. This rate can vary anywhere from about a low of around 7.9% all the way up to about 18% and beyond. So be sure to know when the higher interest rate will be applied. This really will not be a concern, however, if you pay down the monthly balance each month. Typically, most introductory offers will last anywhere between three months to fifteen months.
Instant Application
After choosing which card best suits your personal needs and gives you the most advantage, your application can be received over the Internet and evaluated in just a few seconds. You then will quickly receive a response as to whether or not you have been pre-approved for your instant credit card. If there is a problem, further information will be needed by the card issuing company. This means that they will either have to call you, or mail you a request for more information, which can take additional seven to ten days. But either way, you will not be able to make any purchases until you actually receive the card, which could take another several weeks.
Instant approval credit cards are primarily for those who have either good credit or excellent credit. Other types of cards can be offered to those whose credit may need a little help, such as secure credit cards, which are issued to help rebuild a person rebuild their credit history.
For more information on instant approval credit cards, Robert Alan recommends that you visit CreditCardAssist.com.
