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Travel rewards credit cards are also referred to as airline credit cards. Card holders with these types of credit cards earn travel miles whenever they use their credit cards to make payments. Like all other credit cards, one size does not fit all when it comes to travel rewards credit cards. To get the most benefit from such a card, the customer needs to get the best card for their own needs. Comparing travel rewards credit cards is a little bit different than comparing cards although some of the benchmarks remain the same. The first thing that needs to be examined is how often you travel. A person who travels often and therefore track up travel miles quickly may opt for a card with high redemption points. Remember that cards mileage awards can expire and if you have to wait for an extended period to earn points, you may well end up losing out. While the interest rate, that is, APR is important, if you are the type of cardholder that clears your balances at the end of each billing cycle, this becomes less significant. However, the card holder who always carries a balance forward or incurs late charges, needs to be concerned with the APR when selecting a credit card. Some travel rewards cards start out offering 0 APR or low APR, but generally this is just for select period. When comparing interest rates look at the rates after the introductory period and ask if they are fixed or variable. Check the travel rewards against your annual fees as well. If you pay a high annual fee and receive minimal rewards you may want to reconsider using that particular card. Also, a card can incur no fees for an introductory period only, but that period has passed you will see fees being attached. So look for or ask for details on this. |
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