How to Compare Frequent Flyer Credit Cards
Frequent flyer programs lure customers with the promise of complimentary air travel. If you travel or use a credit card frequently, you can accumulate "miles" toward a free ticket with a frequent flyer credit card. Compare credit card features before signing up with an account to ensure you get the best deal. Most major credit card companies offer frequent flyer cards, which means competitive incentives and interest rates for you. Start with credit card companies you are familiar with, so that you can comfortably analyze their terms and conditions.
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Instructions
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Visit an online personal finance resource such as Bankrate.com or MSNmoney.com. Click "Credit Cards" or "Personal Finance" in the top menu bar. On MSNmoney, select 'Banking" then "Credit Cards." Sort your card comparison chart by "Frequent Flyer Miles" using the drop down menu. As you review the frequent credit cards listed, consider the amount of money you spend on your credit card each year and the number of long distance plane trips you take. Most airline rewards cards give you a specific number of miles per dollar spent with special perks for dollars spent on airline tickets.
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Review the annual percentage rates, annual fees and penalty fees for each card. Unlike other credit card types, frequent flyer cards often have higher fees to make up for the incentives. Look for cards with annual fees less than $100 and interest rates of about 13 percent or less if you have excellent credit. For moderate to bad credit, you may have to pay about 23 percent interest on your credit card. Next, read the blackout travel dates in the terms and conditions. Eliminate cards with black out dates on holidays and during the summers.
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Visit the website of each airline offering Frequent Flyer miles for the credit cards you are comparing. Determine if their available destinations and amenities suit your personal tastes and travel needs. Narrow your list by selecting the card with the most competitive interest rate, highest number of miles per dollar spent and best airline amenities.
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Tips & Warnings
Cards with the best Frequent Flyer mile incentives usually require an excellent credit rating.
Interest rates change frequently. If you find a low interest card with great incentives, complete an application immediately.
