An airline credit card is the perfect addition to the wallets of those who spend a lot of time traveling on planes. These cards allow you to build up points that you can spend in any number of different ways. Not all airline credit cards are created equal, in fact some are not any good at all and it is your job to determine which is which before you sign the contract. You do not want to get sucked into a bad credit card contract, believe me, this is something you want to avoid like the plague. So what can you do to make sure that the airline credit card you choose has all the necessities that you?ll need?
The very first thing that you need to look at when trying to choose the airline credit card for you is the interest rate. Do not get blinded by the flashy introductory rate, look at the long term rate. This will be the interest rate that kicks in after the first few months. This will be the one that you pay for years and years and years, so obviously it is the important one. You will be able to find out all about the interest rate in the airline cards contract.
If you do not read through the contract of your airline card then you deserve everything that comes you way and let me tell you, there will be a lot coming! Airline credit cards just like any other credit cards on the market can have all kinds of hidden fees and loopholes that will cost you a bundle over the years. These are what you need to be on the lookout for at all times when you have an airline credit card.
Here are some things to find out before you sign for that airline card:
What are the minimum monthly payments going to be? These are usually a percentage of the principal of the balance owed on the airline credit card.
How long is the grace period? This is the amount of time that you will have before you have to make a payment on what you have purchased with your airline credit cards. This can be anywhere from a couple of weeks to a month. If you fail to make the payment on time you could be faced with late fees and a higher interest rate.
What are the penalty fees? Most credit cards have all kinds of different fees that they can slap you with. There are late fees, annual fees ad dozens more that can pop up when you least expect them. You need to know what all of these fees are if you want to be able to avoid them each year.
What are your credit limits on the airline card? If you do not know your credit limit you will not know when you need to stop spending. If you go above your credit limit then you will be faced with charges that can cripple you. You must always stay on top of how much you have owning on your airline credit cards, always.
Your airline credit card can be a great way for you to learn points towards any trips that you want to take down the road. You can use these points to travel for business or to travel for pleasure. These airline cards are especially useful to those who spend a lot of time in the air. The best part of airline credit cards is the fact that often times you can use the money for other things besides traveling in the air. You can also use them to pay for hotel stays or even food or gadgets! If you have not yet looked into all of the many benefits that come from having your own airline credit card then now is the time.