Surveys show that around 50% of people who frequently travel do not have a travel reward credit card. If you are a frequent traveller, why not consider getting a credit card with miles rewards and get more from your travel expenses?
A miles reward card offers points in exchange for purchases. These points are equivalent to mileage. Thus, collecting points from your card purchases will earn you the opportunity to fly for free or get an airline ticket at no cost.
True, this type of reward credit card is not for everyone. If you only fly abroad once or twice a year, you may not get much from this particular rewards card. However, if you are a business owner and your business requires travelling abroad to meet prospective clients, attend seminars or to buy stocks, take advantage of what a miles reward credit card has to offer.
However, what if you do not own a business? Does your job allow you to travel to different destinations? If yes, then you can also benefit from a miles credit card. As long as you take trips abroad and use the card for most travel expenses such as airline tickets, hotel rental, car rental, dining or shopping, then quickly gaining mileage points in your account is possible.
However, there are some things to remember so you can enjoy the best off your miles credit card. First, avoid paying the monthly interest rates by paying off the entire balance each month. Keep in mind that issuers of rewards credit cards charge higher interest rates on these cards to make up for their costs.
Second, credit cards with travel rewards tend to have an even higher APR than other types of reward programs. Hence, a card with rewards is not worth keeping if you will not be able to pay off the balances.
Which miles credit card should you get? If you have a favourite airline or if you often fly with a specific carrier; then find a card that is sponsored or affiliated with that airline. Sponsored programs usually give more mileage points per dollar spent as long as the expenses were made with the same airline or with affiliate merchants.
On the other hand, if you tend to buy tickets from different airlines, depending on the destination, a generic miles credit card may be best. This type of miles card is not sponsored by any specific airline so that you exchange mileage points for a free ticket from any available carrier.