Have you noticed all the hype about skymiles credit cards these days? If you pay attention to just about any form of media, chances are you have. They have been the topic of not only commercials, printed ads and billboards but, even hit news stations have been talking about skymiles credit cards. For instance, on an article on CBS Money Watch, skymiles credit cards are shown to be a great type to use when making restaurant purchases. But, what is it about these specialty offers that has everyone so crazy about them? Is the ability to earn free airfare the only thing they offer or is there more to them? Lets break down the different factors associated with credit cards from most important to least and see how skymiles stack up!
Do Skymiles Credit Cards Come With Competitive Interest Rates?
As with any other type of credit card, when it comes to skymiles, interest rates will vary from offer to offer. So, I can’t speak for all offers out there but, I can say, they generally come with highly competitive rates. Even though these offers come with great rewards, that’s not enough to get the masses excited. If you want people to be excited about a financial offer, you need to make sure that it’s the best one out there in all areas. With that said, most of the time, you will find surprisingly competitive interest rates on these cards. For instance, the Miles by Discover Card comes with a zero percent promotional interest rate and an incredibly competitive long term interest rate.
And The Fees…
Now, this is where you have to be a bit careful. In all reality, there are a few skymiles credit cards that are designed with lower fees. But, some skymiles credit cards have annual fees as high as $495.00 and, nobody wants to pay that for a credit card every year. But, if you do your research, you will find some with absolutely no annual fee! Just remember, before ever applying for a skymiles credit card or any other type of credit card for that matter, you should always read the interest rates and fees sections of the terms and conditions making sure you understand everything you will find yourself paying!
What About The Lenders That Offer Skymiles Credit Cards?
Did you like the commercial? Did it scare you a bit? Even though commercials like the one to the left may make you think there are some horrible lenders out there, the truth is, most of those that offer skymiles programs are great! But, before ever applying for any type of card, you should always make sure that you know and trust the lender. Although, you will be hard pressed to find a representative as bad as the famous Peggy, there are some lenders that are not as highly rated as others. When you open a new account, you are starting a long term, financial relationship. One that will either help or harm your financial stability! Before you apply, always ask yourself, “Do I know and trust this lender?”. Doing so will help you make sure that the credit card you open is provided by a lender that you will enjoy having a relationship with.
Are The Rewards Everything They’re Cracked Up To Be?
When it comes to any card that offers miles, the big talk is always surrounded by the rewards. But, are the rewards on skymiles credit cards worth all the hype? Well, that honestly depends on which card you choose to apply for. Some of them come with great rewards programs while others tend to lack in that category. Some cards only allow you to redeem your rewards with one airline, others allow you to redeem with whichever airline you’d like. Some only provide free airfare while others provide redemption offers like free airfare, hotel stays, car rentals and even cash back! It really does all depend on the skymiles credit card that you choose.
About The Author – Joshua Rodriguez
I know what you may be thinking, “Josh, why would you guest post on your own blog?”. Well, I started another website geared to similar topics called CNAFinance.com. I’ve been guest posting on several other relevant, highly trusted blogs to let people know about the new site and the services that I provide through it. With that said, click here to read a recent article posted the one, the only, CNAFinance.com!Google+