There are two kinds of business owners/persons you will come across. One, who collects airline miles on every business tour! And the other, who are not clued into this facility at all. Business owners, who don’t know much about airlines credit card, might find the process complex and intimidate. They are forever wondering on terms like card upgrades, loyalty programs, air miles and points, mileage runs, bonuses, and status. Do you resonate with this? If not, then you might find it challenging in making sense from it all of a sudden. Also, if you and your company staff need to travel frequently, you will have to take a look at the airline credit card as it offers crucial benefits as well. To know more, you can check out Personal Finance Analyst editor review
. Do you use a credit card to pay for the expenses monthly? And do you have months of frequent business travel? If yes, then you need to get clued in to the world of air miles and points. In the beginning, business owners who are first time users should know a few basic terms.
- Airline credit card points and frequent flyer programs are different
It is essential to opt-in for airline programs as well. Every time business owners book a flight; they have to key-in the frequent flyer number. If a business hasn’t used the service of an airline brand before, they should create an account and register. The process is free. When you enter the number every time you book flights, you can accumulate the loyalty points. You can further use these points for the future flights that you did sign up for. Usually, there’s no disadvantage here, other than the fact that your business has fewer travel requirements. If you travel for about five with one airline service, you will make some progress. And when you use this in parallel to the credit card points that you keep collecting, there’s nothing to lose.
- The card points are different from the status
In the world of air miles and credit card points, there are business owners who get fixated on acquiring an elite status. Business owners can attain it by spending a considerable amount of time, on the airplane for getting elite air miles. Sometimes, business owners spend extra money to get this status. In hindsight, it might add to the business reputation as well.
Typically, most people make use of these two terms, interchangeably! And it can get both misleading as well as confusing. Used generally, the terms, “miles” and “points” refer to the currency which business owners gather in travel credit cards. Also, if business owners are focused on a particular airline currency, then it’s apt to make use of this term that the concerned airlines use. There are a few frequent flyer programs that address their currencies as points, and others call it points. Business owners need to know about and get their insight correct. When you are transferring the assimilated credit card points to miles for booking a ticket, you will have to search a program to transfer the points to miles. There are times when a point equals one mile, and at times it isn’t. How can business owners gather credit card miles?
- When business owners opt-in for the frequent flyer programs, they earn miles for each flight. Hence, unless they aren’t a frequent flyer, it might take a lot of time to gather the miles for several flights. The best quality about credit card miles is that they usually don’t need to fly for earning the miles. They need to resort to credit cards.
- There are a few things to do before you begin to earn the miles! As a business owner, you need to apply for the credit card along with miles rewards programs. Almost, each credit card issuer owns a card with card miles. You can assess the offers that various cards provide and then opt-in for the one depending on your objectives. It is essential to know that you should have a good business credit score for qualifying for the ideal credit card rewards.
- The credit card, along with miles rewards the programs that generally pay miles on every credit card purchase, which include both travel and non-travel purchases. You need to know that balance transfers and cash advance don’t earn credit card miles. It indicates that you will earn ample miles for free flight easily than any of the frequent flyer programs.
- Few credit cards do reward business travels and various other buys with more miles. And this is undoubtedly a benefit if your staff and employees travel frequently. When you spend more in such categories, it will enable you to gain the credit card miles quicker.
Securing the air miles
- The credit card miles might get taken away, despite adding it to your business account. For instance, when you return any of the previous purchases you made, the miles that you earlier accumulated because of the buy, gets subtracted from the miles balance. Business owners often lose credit card miles when they don’t make the payments on time, and their account is not in good shape. Furthermore, at times, business owners don’t get their used credit card miles back the moment they bring the account in a favorable standing. Hence, it is also essential to stay high up on the credit card payments on any card on which they have accumulated the credit card miles.
- Business owners should secure the credit card miles from any theft! Some defaulters have access to their accounts and can use the miles. Hence, business owners should pay great attention to details and stay tuned into the details. It is possible to secure the airline card miles by ensuring the password is strong. It is essential to check the air miles balance and check for the source of errors if there are any.
- These are some of the essential points that business owners should stay aware of when they are entering into the world of air miles and credit card points. It will help them to operate better and reap the benefits.