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Miles Card
A miles card is a wonderful way for credit card companies to give something back to their customers in today’s highly competitive market. Because there are so many lending banks that supply customers with cards in this day and age, those companies have to come up with new ways to get the customer’s attention. Through the use of a miles card, lenders can grab the attention of consumers, promote the use of a credit card, and give something valuable back in return for the business provided by each customer.
The majority of lending banks today are offering some variation of the miles card. In short, this type of card is one that gives air miles to customers whenever they make a purchase using a credit card. For example, if a customer decides to go shopping and make $5,000 worth of purchases using a platinum miles card, they will be rewarded with a certain number of miles to gain free service on their next flight. How many miles customers end up getting is completely dependent upon which card they choose and how that card rewards them in particular for each purchase. Continuous use of one of these cards is generally good enough to earn a substantial amount of airline credit, though.|
| | Chase Flexible Rewards Platinum Visa Card |
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Intro APR - 0%
Intro Period - 12 Months
Regular APR - 13.24%
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| Miles by Discover Card - Top Travel Rewards Card |
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Intro APR - 0%
Intro Period - 6 Months*
Regular APR - 10.99%
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How does a miles card work? This can vary depending upon which lending bank one chooses, but the programs are fairly similar all across the board. Miles are accumulated through a point system, with different values being given to different types of purchases. Some cards will give credit for every purchase, while others will only give out mile points for certain things, such as gas, hotel booking, and other expenses. Customers who are interested in finding out about the various programs should directly contact the different credit card companies, or visit their websites in order to get a breakdown of the offers. On the whole, a customer can rack up points depending upon how much they spend in total.
Some miles card providers have different qualifications for trips than others. The Capital One MilesOne Card, for example, gives its customers a full trip voucher with a major airline each time the customer racks up 18,000 miles points. This is slightly less than National City FirstAir, which gives its customers a full trip credit each time they reach 20,000 miles. This number will vary depending upon which credit card is under consideration, so it is important for customers to get that information prior to signing up for a card.
Even though a miles card offers something a little bit better than a standard credit card, it can still provide customers with good interest rates. Most of these cards feature an interest rate somewhere below 10%, which make them extremely competitive for the busy traveler. The various fees will be different, depending upon which company is providing the card, so that is something worth keeping in mind, as well.
What kind of person might benefit the most from a miles card? The busy traveling person could certainly find a great deal to be happy about. For anybody that needs to fly around for business or personal purposes, miles can come in very handy. In addition, consumers that make a lot of major purchases using a credit card can rack up miles in bunches using this type of card. In the long run, this might be something that can knock costs off the bottom line. Different card providers have different offers, depending upon the time of the year and what a customer’s qualifications are. Learning about those various offers is easy to do for anyone with a little bit of Internet savvy.
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