Hear those airplanes taking off now? With the growing use of credit cards for various thing including vacations credit card companies began offering what is called “travel rewards". Travel rewards vary in what it may be, they may be anything from a free vacation to a certain amount of miles for every dollar you spend. Travel rewards are usually an option when applying for a credit card.
Frequent Flyer Miles
In the beginning the majority of frequent flier miles was earned solely by flying, and then airlines combined their frequent flier miles with that of credit cards. Now if you choose to have frequent flier when you sign up for the credit card, you are usually given a certain reward as a start off point. Most often miles can be gained, one mile for every dollar you spend. Sometimes though credit card companies will offer double miles for certain items purchased, are maybe a offer is being run where they offer double or more miles for certain items purchased during a time frame.
Sometimes credit card companies take the travel rewards up another level and offer discounts on various things. Let’s say you booked a airline ticket, car, and hotel room with your credit card, now some credit card companies will offer discounts for using your credit card on such things, or allow you to earn points towards discounts. It really depends on who the credit card company is partnered with.
Although it may seem great to have a card that offers travel rewards there is always a draw back it seems. On occasion you will find credit card applications that state that their travel rewards only apply to certain card holder status, or even that the company can choose not to rewards the points you have built up. Also a company may put in their fine print a clause that puts a cap on how many points you can earn for a certain period of time, or even what things they can be traded in on.
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