Constantly, banking institutions and airlines promote their miles accrual plans. In this article we explain how credit cards that accumulate miles work and how you can take advantage of them.
What are credit cards that earn miles?
Financial institutions that issue credit cards offer cardholders additional benefits to allow credit purchases. One of these benefits is to reward the preference of using the card as a means of payment. If you have this benefit, every time you use your credit card you receive a certain amount of points. After accumulating a certain amount of these, you can exchange them for the various prizes offered by the financial institution.
As this reward program mimics that used by airlines, by analogy the points are called miles. The most common awards offered by institutions are products of a particular catalog of a promotion. Some credit cards also allow you to redeem miles for discounts, when used in airline ticket payments.
What are the advantages offered by credit cards that earn miles?
- They award prizes for consumption, which you can redeem at a discount on air travel tickets. They generally grant one to two miles for every dollar or equivalent in soles consumed.
- They constantly carry out promotions that allow you to accumulate up to 5 miles per dollar, or equivalent in soles, of consumption. Particularly this happens when you use your credit card to cancel the travel ticket.
- Depending on the type of card and the institution that issues it, you can use your miles for flights on prestigious airlines.
- With some credit cards you can have preferential access to the cabin upgrade.
- If you do not want to use your miles for air ticket payments, you can exchange them for different promotional products.
Consolidating the debts of your credit cards is possible with a parallel credit. You can save money. Do you want to know how. Using credit cards is a great experience, except when you overdo shopping and realize that it is not easy to pay.