No. of Recommendations: 0
<<That's a good point, but I actually DO pay off my balance every month. Really! I don't charge anything unless I have the cash to pay it, and since rent is a necessary expense, one that I have to pay anyway no matter what, running it through the card and then paying the VISA bill on time would give me airmiles. There's no way I'd do this if I thought I'd be stuck paying minumum balances from month to month. The only thing I'm really concerned about is whether I'll accumulate enough miles to make the %55 an
nual fee worthwhile.>>

I think that if you have the discipline to pay your card off every month then the perk is good. The justification of the $55.00 is dependant on the number of dollars you charge per year. I believe that airlines use the 25,000 mile mark for free trips. That would mean that you would have to charge $25,000 to make it worth your while. Also, you need to look at the time period the airlines let you not use your miles before losing them.

One alternative I might suggest is getting a card that gives you the air miles without charging you the 55.00. I think citibank does it.

kelvin
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement