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Frequent flyer miles credit cards are a type of credit card that reward the cardholder by crediting into their accounts points, known as reward points, every time they use their frequent flyer miles credit card for travel expenses. Many of the frequent flyer miles credit cards allow you to earn reward points even on some personal retail expenses, as approved by the credit card company.

Typically, airline companies tie up with credit card companies or banks to offer these rewards to the cardholders with the intention of retaining these cardholders as their long-term customers. Some airline companies also issue such cards on their own, without tying up with any institution.

Points are rewarded on the basis of the number of miles traveled or the amount spent on retail purchases for example, one point for every mile flown with the airline that is offering the reward points, or one point or every Dollar spent on retail expenses. The points that accrue in the cardholders account can be redeemed for air travel, hotel stays, or for exchanging them with other goods or services as specified by the credit card company.

How To Choose The Right Frequent Flyer Miles Credit Card

If you are not a big spender, then it is best to stick to just one frequent flyer card. And here is how you can choose one:

1. Every frequent flyer miles credit card company offers bonus miles on sign-up (typically, 15,000 bonus points). Compare the bonus points offered by different credit card companies and choose the one that offers the most.

2. Go for cards that reward you with at least one point for every mile you fly or for at least one reward point for every Dollar you spend.

3. Pay close attention to the Annual Percentage Rate (APR, or interest rate). Many credit card companies offer a low introductory APR and then escalate it later. Go for a card that offers a reasonable rate of interest that is comparable to industry standards.

4. Credit card companies impose a limit on the maximum number of reward points that you can accumulate. So, you need to find out what the restriction is, reconcile it with your travel schedules, and then choose the card that fits into your travel plans.

5. Many credit card companies have a point expiry clause, which means that if your account is not active for a certain period of time then the points you have accumulated will lapse. You have to take this factor into account too.

6. If you fly with various airlines, then go for a frequent flyer miles credit card that is associated with a few airlines, or allows you to redeem your points with other airlines as well.

Pros and Cons of A Frequent Flyer Miles Credit Card

A frequent flyer miles credit card is advantageous if you travel frequently on a particular airline. And, if you use your credit card correctly, then the reward points come real handy you can redeem them for airline tickets, hotel stays, or for various goods and services.

Frequent flyer miles credit cards have some cons too. While redeeming your reward points for booking airline tickets, you may have to pay a booking fee and that knocks off some reward points. Many airlines, most of them being budget airlines, do not accept reward points, especially if you want to book a child's ticket, and hence, if you are planning a family vacation you will have to shell out cash for your child's ticket. Redeeming points to book an airline ticket can sometimes be more cumbersome than booking the ticket online.

In the end, remember that with a frequent flyer miles credit card, you have to consolidate the points and manage your rewards account. Go online to a "credit card comparison website" then shop and compare the different offers that are out there. If you plan and strategize your frequent flyer miles credit card correctly, then it can really rocket your happiness skywards. Bon Voyage!

About the author:

Richard Syner is a physical therapist and market researcher. Do you know which frequent flyer miles credit card is best for your needs? Get some help at http://cardrates.ecreditdirectory.com/ and choose the right card for you!

This article may be reprinted as long as the information and resource box remains intact and unchanged.

# posted by ujx @ 7:06 AM 0 comments

Debt consolidation can be the way out of a terrifying financial situation. For some, credit card debt is a constant, terrifying companion, stealing sleep and adding tons of extra stress to their lives. If you are carrying around the overwhelming burden of credit card debt, it would be wise to consider credit counseling services to find long-lasting debt relief.

Credit counseling involves educating the consumer to better manage their finances to work towards becoming debt-free. These companies teach you to control impulsive and indiscriminate spending, and to develop an effective debt relief system. The end goal of credit counseling is to become a responsible, happy consumer.

A major component of many credit counseling programs is debt consolidation. This is a major step, and it should only be taken when you are fully ready to get rid of all your debts and are willing to do anything necessary to achieve that goal.

When you sign up with a credit counseling agency, you may be asked to fill out a debt consolidation form. One of the effects of this action may be that you surrender use of all of your credit cards. You must be ready to take this action. A common problem among credit counseling customers is that once they begin to feel liberated from their credit card debt they go back and rack up more staggering balances. This leaves them much worse off than before, as they still must make payments on their consolidated loan, as well as pay their new monthly balances.

Despite its difficulty and possible perils, credit card debt consolidation is a valuable and necessary service for many people. If you are in distress and fear about your credit card debt, you must consider credit counseling.

Robert A Johnson is an expert in the various methods of debt reduction and has successfully reduced his own debt. He studied writing and English literature at the University of Dallas. He is also a ninja master. Please find the rest of his articles by following this link: http://www.creditsolutions.com

# posted by ujx @ 4:38 AM 0 comments