Got Great Credit? Get a Great Rewards Card

Photo (cc) by eastleighbusman

The following guest post comes from partner site LowCards.com

Credit card issuers continue to sweeten their rewards, hoping to add consumers with excellent credit scores to their portfolios.

The latest appealing offer is from Chase. The Southwest Airlines Rapid Rewards Premier credit card is now offering 50,000 points after your first purchase, enough for two free round-trip flights to almost anywhere Southwest flies. There are some drawbacks to the card: a $99 annual fee, a higher APR (14.24 percent), and cardholders are probably required to have good to excellent credit scores to be granted approval.

“Issuers are becoming very competitive in attracting consumers with high credit scores, and they are using the best reward offers we’ve seen in several years,” says Bill Hardekopf, CEO of LowCards.com and author of The Credit Card Guidebook. “There have been some great airline offers on the market during the first half of the year, but consumers need to be aware that many of these cards come with a higher interest rate. Like all reward cards, the benefits are a good deal only if you pay off your balance each month.”

Competition among issuers is extremely high as credit card companies try to attract the consumers with the lowest risk: those with high credit scores. According to Mintel Comperemedia, credit card offers have more than doubled from 551 million at the end of 2009 to 1.4 billion at the end of 2010. Consumers with good or excellent credit scores are receiving the majority of these solicitations, and rewards seem to be the bait being used to attract new customers. Eight in 10 offers are for rewards cards promoting points, miles, or cash rebates, up from six in 10 offers in 2008.

Some of the other attractive airline mileage offers of 2011 include:

  • In April, Chase offered a month-long incentive where new cardholders could earn 100,000 miles with the British Airways Visa Signature Card. New card members received 50,000 bonus British Airways miles after their first purchase and another 50,000 bonus miles after they spent $2,500 with the card during the first three months.
  • In March, Capital One promoted a “Match My Miles Challenge” on their Venture Card. It matched up to 100,000 miles a consumer had in any airline credit card rewards program once the new cardholder spent $1,000 in the first three months on the card.
  • Chase currently offers 25,000 bonus miles after the first purchase on either the Continental Airlines One Pass Plus Card and the United Mileage Plus Card. You also get a $50 statement credit after your first purchase. The One Pass Plus Card also offers 10,000 annual bonus points if you spend $25,000 during the year. However, there is an $85 annual fee for One Pass Plus and a $60 annual fee for United Mileage Plus.
  • The Citi Gold/AAdvantage World MasterCard currently gives a new cardholder 30,000 miles on American Airlines after $750 in purchases during the first four months. The $50 annual fee is waived for the first year.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
11 Signs That You Chose the Wrong Place to Retire
11 Signs That You Chose the Wrong Place to Retire

Health and happiness in retirement rely on some key factors.

9 Foods You Should Never Buy Again
9 Foods You Should Never Buy Again

Make the wrong food choices, and you can ruin your health — and possibly shorten your life.

10 Expenses You Should Not Put on a Credit Card
10 Expenses You Should Not Put on a Credit Card

Sometimes it’s simply safer to keep the plastic tucked away.

12 Ways Retirees Can Earn Passive Income
12 Ways Retirees Can Earn Passive Income

These simple ways of earning income without a lot of active, ongoing effort can stretch your retirement dollars.

8 Surprising Things No One Tells You About Retirement
8 Surprising Things No One Tells You About Retirement

Knowing what to expect can help you prepare for — and adjust to — life in your golden years.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

11 Things Retirees Should Always Buy at Costco
11 Things Retirees Should Always Buy at Costco

This leader in bulk shopping is a great place to find discounts in the fixed-income years.

Over 50? The CDC Says You Need These 4 Vaccines
Over 50? The CDC Says You Need These 4 Vaccines

Fall is the time to schedule vaccines that can keep you healthy — and even save your life.

Why Cloth Masks May Increase Your Coronavirus Risk
Why Cloth Masks May Increase Your Coronavirus Risk

A new study finds that wearing a cloth mask can backfire if you don’t clean it properly.

11 Household Items That Go Bad — or Become Dangerous
11 Household Items That Go Bad — or Become Dangerous

When you get the impulse to stockpile these everyday items, pay close attention to their expiration dates.

8 Things You Can Get for Free at Pharmacies
8 Things You Can Get for Free at Pharmacies

In this age of higher-priced drugs and complex health care systems, a trip to the pharmacy can spark worry. Freebies sure do help.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

The 15 Worst States for Retirees in 2020
The 15 Worst States for Retirees in 2020

Based on dozens of metrics tied to affordability, quality of life and health care, these are not ideal places to spend retirement.

These Are the 4 Best Medicare Advantage Plans for 2020
These Are the 4 Best Medicare Advantage Plans for 2020

Medicare Advantage customers themselves rate these plans highest.

The 10 Most Commonly Stolen Vehicles in America
The 10 Most Commonly Stolen Vehicles in America

A new model parks atop the list of vehicles that thieves love to pilfer.

This Is the Cheapest Place to Buy a Used Car
This Is the Cheapest Place to Buy a Used Car

Looking for a good deal on a set of wheels? This should be your first stop.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you piles of cash. Here’s how to get there.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

26 States That Do Not Tax Social Security Income
26 States That Do Not Tax Social Security Income

These states won’t tax any of your Social Security income — and in some cases, other types of retirement income.

10 Reasons Why You Should Actually Retire at 62
10 Reasons Why You Should Actually Retire at 62

If you can, here are several good reasons to retire earlier than we’re told to.

7 Surprising Features That Boost Your Home Value
7 Surprising Features That Boost Your Home Value

You can add value to your home without hiring a contractor to do expensive renovations.

5 Things That Make Life More Meaningful for Retirees
5 Things That Make Life More Meaningful for Retirees

Retirees agree: These are the things that give them purpose and fulfillment in their golden years.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.