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Frequent Flyer Compared

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Frequent Flyer Credit Cards Explained

frequent flyer credit card is a loyalty program offered by a credit card issuer often in conjunction with an airline. Typically credit card holders who own a frequent flyer credit card accumulate frequent flyer miles, kilometres or points depending on the amount spent on the credit card. The frequent flyer miles accumulated can then be redeemed for free air travel, other goods or services or better benefits including business or first class upgrades, access to airport lounges or priority bookings.

When choosing a frequent flyer credit card, borrowers should take the time to determine who long the expect it will take to earn enough points or miles to receive a free ticket. They can do this by simply dividing the average amount they spend on a credit card by the standard number of points required to earn a free ticket. For example if it takes 25,000 points to earn a free ticket and the borrower expects to receive 6000 points a year for their spending on a the credit card, then it will take the card holder approximately four years and two months to earn a free airline ticket (25,000 divided by 6,000)

Latest Compare Credit Cards News from the comparedinkum Blog

New Report Suggests Many Australians Are Struggling With Credit Card Debt

A new report by ASIC has found that 18.5% of Australians are struggling with credit card debt. The outstanding credit card debt in Australia totals $45 billion with $31.7 billion of that incurring interest. ASIC Deputy Chair Perter Kell says the findings prove that credit cards can result in financial difficulties for many Australians. Other research suggests that one fifth of all cardholders in the country are in a long-term debt trap with 1 in 10 carrying credit card debt for over a decade. Continue reading

Australians Not Using Balance Transfer Cards Properly

Balance transfer cards are popular with Australians seeking to pay down their credit card debt because they come with an interest free period. That does sound good doesn’t it? Unfortunately, the reality is most Australians are seriously misusing these cards and its costing them a packet. According to RateSetter 44 per cent of Aussies who use these cards to try to pay down debt fail to do so within the interest free period because they are unable to resist the temptation of spending more. A further 12 per cent simply lack the discipline to make the monthly minimum payment. Continue reading

Common Balance Transfer Pitfalls

Balance transfer cards are useful because they allow credit card borrowers to consolidate their debt onto a single card that usually has a long interest free period. This means the borrower is able to pay off their debt without incurring additional interest rate charges. This does sound too good to be true doesn’t it? Well to some extent it is, there is a catch, lenders are increasingly tacking on fees to transfer a balance, which is usually some fraction of the balance being transferred. Continue reading

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