Credit cards are small rectangles of plastic that have a great deal of power, which is why they must be used responsibly by consumers. A credit card can be a great financial solution, but it can just as easily represent huge financial problems or spell financial disaster for an irresponsible consumer.
If an individual uses a credit card to pay off regular monthly expenses and bills, it may be difficult to make minimum monthly payments in the future. Similarly, if a consumer acquires multiple credit cards and maxes each credit card out within a very short time frame, the minimum monthly payments for each credit card may be quite high.
Credit Cards With Miles
On the other hand, responsibly using a credit card can be quite convenient. Consumers can purchase expensive items like new clothing, modern appliances, or even home renovations without having to save for months in order to afford the purchase. Consumers can also use credit cards as a backup in the event of a serious emergency. Also, credit cards that offer benefits and perks may be able to save customers even more money on special things like airline travel. Credit cards with miles can be incredibly beneficial to customers if they know a few tricks for maximizing air travel mile accumulation. Here are some tips that may help you.
Use Your Credit Card Frequently
First, start using your credit cards with miles to pay for everything that you would normally use your debit card for. Don’t exceed the amount of money that you have within your bank account, but trade out your credit card for your checkbook every time. This ensures that you are racking up as many airline miles as possible. Be sure that you are using your credit cards with miles at approved mile accumulation locations, as some credit card companies only add miles for purchases at retail stores, gas stations, or restaurants.
Pay off the Balance Each Month and Save Your Miles
In order to prevent interest charges from canceling out the money you save on air travel, it’s important to pay off the entire balance of your credit cards with miles each month. If you end up paying excessive interest amounts, you would have been better off simply buying an airline ticket in the first place.
Also, it’s a good idea to save your airline miles and use them all at once. Many credit card companies offer increasingly valuable benefits the longer you hold off on redeeming your airline miles. When you responsibly use your credit cards with miles, you enjoy benefits that will help you travel to exotic destinations for close to nothing.
Credit Card Dangers
A credit card is an attractive idea for many individuals. You can pay for the items you need or want without actually having the money in the bank. While credit cards are convenient and beneficial, they can also be problematic if used irresponsibly. Here are some common credit card dangers and steps to avoiding them.
Maxed Out in a Hurry
Maxing out your credit cards within a few short months may result in a massive monthly payment that you simply can’t afford. It’s a good idea to use your credit card slowly and methodically. Some people set personal limits well below their credit card limit, and they may even decide to pay off the balance completely before using it again.
Multiple Credit Card Problems
Opening multiple credit cards can also be problematic for the inexperienced credit card user. Too many credit cards can get confusing and complicate the repayment process.
Missed Payments and Late Fees
Missing payments is one of the most common credit card danger consumers fall into. Every time you miss a payment, you’ll be penalized with late fees and hidden charges. These charges may even be added to the principal amount of your credit card. If you rack up excessive late charges, any perks such as airline miles may be removed from your account as well.
Sudden Jumps in Interest Rates
Another credit card danger that often catches consumers unaware is a sudden increase in one’s interest rate. Interest rates are very important in determining how much money you will be required to pay your creditor each month. Many people pay more in interest than they originally charged to the credit card. If your interest is advertised as quite low, you might think you’re getting a great deal on a line of credit.
However, the fine print may reveal that this low interest rate only applies to the first few months of service. After this trial period expires, and after you’ve accumulated a great deal of debt on the card, the interest rate can spike and you’ll be slammed with payments you simply cannot afford.
A credit card doesn’t have to be the kiss of death for your bank account. You don’t have to struggle to make payments or flounder in a pool of overwhelming debt. If you use credit cards responsibly and avoid these common credit card dangers, you can have a line of credit that will actually improve your financial outlook and add to your sense of financial security.
Credit cards are quite popular amongst consumers simply because they make purchasing larger items or preparing for emergencies more convenient. With a credit card, you can purchase expensive items without having to save up for the total price of the item. Essentially, a credit card has the potential to ease the financial burden of big purchases.
Airline Miles Benefits
Credit cards can also be beneficial because they provide consumers with additional perks and benefits. For example, some credit cards allow you to accumulate airline miles benefits with every purchase made using the card. A customer can save up these airline miles benefits and exchange them for an airline ticket to the destination of his or her choice.
Airline credit cards are some of the most popular credit cards on the market today. Many consumers want these credit cards because they are looking for ways to save money on travel. Before you can get a credit card, though, you must make sure that you are qualified for a line of credit. Here are a few things that will help you determine whether or not you are qualified.
Qualification Involves More than Your Credit Score
First, it’s important to understand that qualification for a credit card involves much more than just your credit score. A credit card company will issue credit cards to consumers with credit scores in a specific range, but you need to perform your own qualification check to ensure that you are personally ready to accept and manage a line of credit.
Are You Financially Stable?
In order to determine whether or not you are personally qualified to have an airline mile benefits credit card, you need to evaluate your current financial situation. Financial stability involves a steady job and the ability to make regular monthly payments for recurring bills. If you cannot afford your bills from month to month, you probably aren’t qualified to have a credit card.
Have you Created a Budget?
Creating a budget and practicing good financial management is another important step in determining whether or not you are qualified to have a line of credit. Individuals who pay very little attention to their own finances or who haven’t practiced creating a budget and sticking to that budget are far more likely to exceed their means and create a bad debt situation for themselves.
Evaluating these factors will help you determine whether or not you are qualified for an airline mile benefits credit card.Read More
Going on a vacation doesn’t have to be a pricey event that completely empties your bank account. There are some great ways to save money on vacation simply by making a few subtle changes to your itinerary and your plans.
Avoid the Peak Tourist Seasons
If you want to save money on hotel expenses, travel expenses, and even ticket prices at popular tourist attractions, consider planning your vacation during the off-season. The prices of attractions change dramatically in the winter months when tourist numbers are down.
Use Complementary Airline Miles Credit Cards
If you have an airline miles credit card, with continued use of the card, you can save those miles and exchange them for a huge discount on the cost of airfare. Air travel is extremely convenient, but it’s also one of the most expensive ways to travel. Any discount can make a huge difference.
Visit a Grocery Store for Some Meals
Dining out for every meal can quickly become expensive while on vacation. If you are planning a long vacation, you might consider stopping at a local grocery store to pick up some snack foods and easy meal items. Substituting just a few restaurant meals for cheap groceries is a great way to save money on your next vacation.
Choose Free Attractions
It may be tempting to pay big bucks to see live concerts, catch a theatrical show, visit a high cost museum, or shell out cash for yet another expensive tourist attraction. However, these aren’t the only options for vacationing. Most tourist locations have free tourist attractions that are just as exciting and culturally interesting as paid attractions. Instead, of riding an escalator to the top of the Eiffel Tower, for example, you can walk around the base and take beautiful snapshots of the structure.
Opt for the Low-Cost Transportation Option
If you are visiting a big city like New York City or London, you might be tempted to give your feet a rest and take public transportation or hail a cab. However, the fees required to access these modes of transportation can add up quickly. You can save money, in fact you can spend nothing at all, by choosing to walk to your next destination rather than catch a ride. You’ll get some great exercise, and you’ll also be more likely to take in the everyday sights of these bustling metropolises.
Your next vacation doesn’t have to be expensive, there are a myriad ways to save money on vacation. You just have to get creative, do your research and compare deals before you buy.Read More
There are many reasons for international or even domestic air travel. Some people travel to visit family members or friends who live a great distance away. Others may choose to use air travel in order to visit an exotic destination or faraway location for pleasure purposes.
One of the most common reasons for frequent airline travel, however, is for business purposes. Business travelers often have to take hundreds of flights while on the job, and these individuals are likely to rack up impressive airline miles if they use a credit card with miles benefits. The question becomes, how do you chose the best airline for business travel?
Best Airline For Business Travels
If a professional has an airline mile credit card, he or she may need to choose the best airline for business travels. Choosing the right airline can make a huge difference in the quality of travel that an individual experiences. Cheap flights or cramped flights can make air travel exhausting, and a businessperson may show up to an important meeting feeling tired, irritated, or frazzled. If you are looking for the best airline for business travel, there are some criteria that you can use to choose.
Most important is the speed at which businesspeople can check in for their upcoming business flight. A businessman or businesswoman may be crunched for time when it comes to business travels. Often, meetings in one location last longer than expected, and then the individual will be forced to rush to the airport to catch an important flight. Some airlines have special check-in lines for repeat customers or business executives, and these lines can dramatically expedite the check-in process.
The second-most important consideration, in choosing the best airline for business travels, is the level of comfort offered in an airline’s seats. A businessman may have to fly for hours at a time, especially if he works for an international business. When airline seats are comfortable and roomy, it’s far easier to catch some much-needed sleep on a leg of the journey.
Some airlines even offer relaxing business lounges for repeat customers, so businesspeople can wait for their plane to taxi off the runway in a comfortable, quiet lounge. This is a great time to catch up on extra work or simply experience some down-time immediately before the stressfulness of a packed flight.
If you have airline miles from a credit card, you might consider splurging on an upgraded airplane seat or a ticket on the best airline for business travels!Read More