Video: How to Use a Credit Card for Frequent Flyer Miles

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Using credit card frequent flyer miles is best done when the balance on the card can be paid off within the first billing cycle after a major purchase. Avoid paying interest on frequent flyer miles with helpful information from a licensed financial adviser in this free video on credit cards.

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Video Transcript

Hi, my name is Bill Rae. I'm with Alumni Financial Services out of Seminole, Florida. I've been in the business of the finance world for well over thirty years. Gotta a question today that is near and dear to my heart. How to use credit cards for frequent flyer miles. Word of caution however before we really get into this. Make sure you don't get a credit card just for the frequent flyer miles. Whenever you have a credit card, do understand there are costs involved in using somebody else's money no matter how short a time it is. So, with that being said, if you have a good credit card with good rates, the best way to use frequent flyer miles is when you have a product a looking at buying and they offer you those things. Go ahead and make the purchase on the card. Ideally if you can pay that card off within the first billing cycle, you're going to accumulate your frequent flyer miles at absolutely no cost to you other than the product you're picking up. So, when you're looking at all these offers, just make sure that you really aren't paying for those frequent miles with a higher interest rate or a faster billing cycle, or better yet the wonderful annual fee. Again, it's a wonderful way to get free travel around the world and if you're smart with your money, that's what you can do. My name is Bill Rae. I'm with Alumni Financial Services, and as always we're here to help you build true wealth.

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How to Use a Credit Card for Frequent Flyer Miles

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