Open Frequent Flyer
Program Considerations
Open frequent
flyer reward programs are available from most major credit card
issuers.
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With few
exceptions, you earn points for all of your purchases. These
points can be converted into miles in accordance with each card
issuer’s policies and conversion schedules. In general, you’ll
find that nearly every card rewards you with 1 point for each
$1 charged to the card. Capital One is currently offering 2
points for every $1 charged, but that could have changed by the
time you read this.
Depending upon
the program’s requirements, and the price of the selected
airfare, it’s possible to earn a ticket for around 15,000 miles
more or less. It’s how you redeem those miles that can be an
issue.
Miles are
redeemed by calling the card issuer’s affiliated travel center.
In some cases these centers are operated by the card issuers
directly. In other instances they are outsourced to a major
travel agency.
Some travelers,
or would-be travelers, find it difficult to match their travel
itinerary with available “reward” seats. But if you’re a bit
flexible with your travel plans, and you don’t have to fly on a
particular airline, you will usually end up flying to wherever
it is you want to go.
When you book
the flight, they deduct the appropriate number of miles for the
ticket plus any taxes and surcharge including the card issuer’s
own surcharge which can run anywhere from $0 to $50.
Of course, the
major advantage of selecting a credit card with an Open reward
program is that your miles don’t disappear if any particular
airline goes out of business or terminates its frequent flyer
program.
Free Online Checking
Many banks these days, offer free online checking of accounts and people can access their account online
You’re still at
risk in the event that the credit card company decides to
terminate its reward program, however.
I don’t want to
come across as being negative, but I do have an obligation to
tell you both sides of the frequent flyer reward
story.
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