Credit cards for frequent fliers are a unique way for people to get rewards while spending money.
Credit cards with frequent flyer points are a unique way for people to get rewards while spending money.
There is, however, a big cost to spending while earning: average interest rates on airline mileage credit card balances are 16.99 percent.
As people look for other ways to deal with their debt, they will inevitably start looking for a low-rate balance transfer. Innovative companies like E*TRADE FINANCIAL are making it easier for people to move their balances to a card with a lower interest rate while still being able to earn rewards on the card they want.
The E*TRADE Mileage Maximizer Account is an automated balance transfer system that lets customers move their balances from credit cards with higher interest rates to credit cards with lower interest rates every month. Low-interest credit products like these let people pay less interest on their balances, which makes it easier to handle debt.
So, enjoy the rewards you get from airline credit cards that give you miles: take that trip, get a better seat, or give the miles to a good cause. But if you want to save money, don't pay for those benefits with a high interest rate. Instead, keep your balances low so that the interest rate is low.
