4 Factors in Selecting Frequent Flyer Credit Cards

Before you launch into an immediate application it's a good idea to get yourself a little more grounded and check all of the features of the frequent flyer credit card you are looking at – not just how many points you are racking up!

Rewards programs can be great perks when you choose your card and frequent flyer credit cards can offer you some great perks on discounted flights, access to executive lounges, a 24/7 concierge and other features, but that's not the only factor to consider.

How Often Will you be Flying?

It sounds obvious but be honest with yourself– unless you are interested in travel and are a frequent traveller it's unlikely that a frequent flyer credit card will fit the bill for you. If you travel a couple of times a year, forget it. If however you are flying every other week for business, then of course this means that you can gain a great deal and can enjoy the perks that make living out of a suitcase that little bit easier.

What Other Features are Paying for your Rewards?

Ask yourself what other features of the frequent flyer credit card are paying for the reward program. In the world of credit virtually NOTHING comes for free, so what's the trade off with your card? Maybe it's a very high interest rate or a high annual fee? Check out ALL the features – especially interest rates and fees, not just the "headline grabbing" rewards schemes.

Which Airline and How Many Points?

You will want to pick a card that matches your preferred airline rather than the other way around! Don’t change your airline because another card offers better rewards, because if you travel frequently then the most important thing is that you are relaxed and comfortable rather than how many air miles you are racking up. Work out how much you will spend per year, how many points that equates to and how those points can be redeemed – what free flights can be achieved?

Then decide whether the points you will gain are worth paying a higher interest rate or annual fee, or whatever the other features of the card are

Are You Going Interest-Free?

A factor that nearly all credit card applicants need to consider is their own banking habits. If you are on top of your personal finances and manage to stick to making monthly payments on time taking advantage of the interest-free period (often 44 or 55 days) is a great way to use your credit card intelligently.

The above factors are an introduction to selecting frequent flyer credit cards. There's plenty of more information on the LowerBills web site.

For more information regarding frequent flyer credit cards, platinum credit cards and credit card deals, please visit: www.lowerbills.com.au