Mileage credit cards are a great option for frequent flyers to earn and redeem miles credits. As a cardholder, for each point earned per dollar charged you collect points toward free tickets, hotel accommodation, cruises and car rentals.
In majority, mileage credit cards have the same structure, which considers a predetermined amount of points offering pretty much the same rewards. However, in order to avoid carrying on credit balance and being protected from high interest rates, you need to compare mileage credit cards to find out which one gives you the best value for your money based on your travel patterns and budget.
The best mileage credit cards currently available in the market are:
Capital One VentureOne Rewards Credit Card
If you have good credit history, the Capital One VentureOne Rewards Credit Card is one of the best options for you. Offering 1.25 miles per dollar charged, the Capital One VentureOne allows you to earn airline miles against any purchase. Besides, this mileage credit card has 0% intro APR on purchases until May 2011 and no limit on the amount of miles that can be earned. Finally, your miles do not have an expiration date; you can fly with any airline throughout the year; and there are no annual fees.
With the Capital One VentureOne Rewards Credit Card you will also have other benefits including 24-hour travel and emergency assistance and cash advance in case your card is stolen or lost.
Discover Miles Card
Discover Miles Card is another great option, mostly because it has no annual fee, unlimited miles and 0% Intro APR. If you have excellent credit, your transfer can be transferred over 12 months. Moreover, Discover Miles Card has 0 Purchase APR for the first 6 months of membership and then it goes to 10.99%. The APR is variable and goes up or down, but not lower than 10.99%, based on your credit history.
For purchases up to $5,000 within the first year of card membership, you earn 2 miles for every $1 spent. When you exceed $5,000, you earn 1 mile for every $1 spent. Moreover, there are no limits for the miles earned and no expiration date.
Citi Platinum Select / AAdvantage World MasterCard
If you like traveling with American Airlines and you feel like making $750 in purchases within 4 months, the Citi Platinum Select / AAdvantage World MasterCard is the best option for you. By reaching this goal, you are eligible for 30,000 AAdvantage bonus miles. Moreover, this mileage card offers you 1 mile per dollar spent, making up to 100,000 AAdvantage miles per year.
With Citi Platinum Select / AAdvantage World MasterCard your miles do not have an expiration date and you can fly with any airline throughout the year. Besides, for $1 spent on entertainment and at restaurants you can earn 5 reward points; for $1 spent on any other purchase you can earn 1 reward point; and for timely monthly payments that allow you to remain under your credit limit you can earn 1 reward point.
On the other hand, you need to take into consideration that the Citi Platinum Select / AAdvantage World MasterCard has an annual fee of $85.00 and variable APR 15.24%.
British Airways Visa Signature Card
British Airways Visa Signature Card is another great option for air miles reward points. BA offers you 2.5 miles for every $1 spent on BA flights and 1.25 miles for every $1 spent on any other purchase. If you are an Executive Club member or a new cardholder you can receive 100,000 miles in two installments. First 50,000 miles are collected with your first purchase and another 50,000 miles are received after you spend $2,000 in purchases within the first three months of membership.
Currently, British Airways Visa Signature Card offers 30,000 bonus miles in two installments. First 20,000 miles are received with your first purchase and another 10,000 miles are collected upon making purchases equal to $750.
With the British Airways Visa Signature Card you will also have other benefits including exclusive offers for the Super Bowl and the Olympic Games, $50 discount on round-trip transatlantic fares and a complimentary companion ticket for every full-price First, Club World and World Traveller Plusticket purchased with your mileage credit card.
On the other hand, you should consider the annual fee of $75.00.
Overall, when you do your research to decide which mileage credit card is the best for you, you have to consider, besides rewards, annual fees as well. Some card reward programs are costly for credit card companies and for that reason they charge high annual fees to trade-off for this expense. On the other hand, no annual fees it simple means that fees are waived for the first year. Moreover, card reward programs are subject to higher interest rates than other airline cards.
In conclusion, if you don’t understand the real value of airline reward points for your wallet, you may find yourself highly dissatisfied with your card. Therefore, before applying for a mileage credit card, calculate the real value for your money.