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Get the FACTS about Credit Cards...

Here is what you need to know...
   to break free of Credit Card Karma:

Credit Card Deals...
Specialty Credit...
   Frequent Flyer Credit Cards

There are a bewildering number of "Air Miles", "Sky Miles", or "Frequent Flyer" Credit Cards.... and they are pretty confusing. Before you go this route, here are questions to ask yourself:

- "Do I travel enough to benefit from using this card?"
    (At least weekly? Several times monthly?)
- "Can I use this card on all the dominant airline(s)
    in my region?" (Am I near a hub or not?)

- "Which one will earn me the best or quickest ticket
    with the fewest restrictions?"
- "Which one gives me the most benefits for each dollar
    I spend and each mile I travel?"

* Interest Rate (APR): If you are looking for a low rate card to transfer your outstanding balance into, then do NOT use a "frequent flyer" card for this. These cards offer "travel benefits" and you pay for these benefits with higher interest rates. You really do need to be a frequent traveler to benefit from these cards.

* Airline Sponsored Card Advantages: You should choose an airline sponsored card when that particular airline has a hub in your city or at the closest airport. This airline will control most of the routes to destinations from your area. These cards provide superior customer service... if you use the sponsored airline (or a related one), where spaces are limited, airline cards give their customers first priority.

* Bank Sponsored Card Advantages: You should choose a bank sponsored card if you will be using many airlines rather than just one. This card works best if you do not have a dominant airline in your region and if you need to frequently redeem miles from different airlines on various legs of your trip. Bank cards usually offer better fraud protection and other financial services than airline cards do.

* Blackout Dates & Restrictions: Airline sponsored cards tend to offer fewer blackout dates (dates when you cannot spend or earn air miles) and less restrictions (destinations where you cannot spend or earn air miles). Be sure to check these carefully. If you cannot fly when or where you want to, then the travel card provides little value. Remember that blackout dates and restrictions are constantly being added or deleted by the sponsor of the frequent flyer card.

* Annual Fee: Before you reject cards with an annual fee... remember that if you are flying on business, an air miles annual fee would be a tax deductible business expense. Sometimes air miles cards with annual fees give you a high degree of customer service that you might benefit from. Review the benefits offered and make sure that you would actually use these extra services before committing to one.

* Customer Service: This includes travel services like discounts on hotels and car rentals, emergency cash delivery, travel insurance, lost card protection, medical assistance, etc. It also includes online services, like account management and unbilled activity, and 24 hour phone hotlines. Remember the more you get from air cards, the more you pay, either as annual fees, interest rates, or finance charges.

* SignOn Perks: When you open a new travel card, there are often incentives offered. In the first year, no annual fee, introductory interest rates (even 0%), and hefty bonus points may be offered. This is often a great deal until the introductory offer expires. Remember terms are subject to change with 15 days notice.

* Expiration & Caps: Most air miles are only good for a limited period (usually 12 months from the date of the trip) and expire after that. Sky miles that never expire are the best deal. Similarly, most air miles have a cap on how many could be used in a year. Sky miles with no caps on usage are the best deal.

* Miles per Dollar Spent: This is the most complicated part... here where you need to do some math to decide what the best deal is:

- For each $X dollar(s) spent earns you Y number of miles
    (ie. $1 to get 1 mile is better than $2 to get 1 mile).
- For a total of Z thousands of miles to earn a ticket
    (ie. 24,000 miles to get a trip is better than needing 50,000 miles).

- For redeeming miles you get a ticket to A
    (ie. A anywhere is better than being restricted to the US only).
- For redeeming miles you get a ticket during B
    (ie. B anytime is better than working around blackout dates).