Travel Rewards Credit Cards

MILES BY DISCOVER CARD REVIEW:Apply Now | Back to Chart

Miles by Discover Card allows cardholders to earn 2 miles per dollar spent on the first $3,000 in travel and restaurant purchases each year, and 1 mile per dollar spent on these types of purchases thereafter, as well as 1 mile per dollar spent on all other purchases. Cardholders also earn 1,000 bonus miles each month that the card is used for the first 12 months. There is no limit to the number of miles that can be accumulated, and miles do not expire.

Miles can be redeemed for a credit to your account reimbursing you for any travel purchase, with no restrictions. Every 5,000 miles earns a $50.00 travel credit. Miles can also be redeemed for gift cards or cash. 5,000 miles can be traded for a $25.00 account credit or, if you prefer, the $25.00 can be deposited directly into your bank account.

The annual interest rate for Miles by Discover Card is 0% for the first 6 months, and anywhere from 10.99% to 18.99% thereafter. The balance transfer APR is 0% for the first 12 months, and the same as the purchase APR thereafter. There is also a 3% fee for balance transfers. There is no annual fee.

Miles by Discover Card is an excellent choice for anyone who would like to earn travel rewards. It will be most rewarding to consumers who are unlikely to spend considerably more than $3,000 on travel and restaurant purchases each year and who will use their credit card at least once each month. Even cardholders who only use the card occasionally or who do not travel frequently should still see benefits from this card, since miles are earned for all purchases and never expire. As far as travel rewards programs go, Miles by Discover card is quite flexible and rewarding.

CAPITAL ONE NO HASSLE MILES REWARDS CARD REVIEW:Apply Now | Back to Chart

Capital One No Hassle Miles Rewards cardholders earn 1.25 miles per dollar spent on purchases. This is an especially good deal for cardholders, since the vast majority of travel rewards credit cards offer 1 mile per dollar spent. Miles have no limit or expiration date. In order to redeem your miles, simply purchase a ticket with your Capital One No Hassle Miles Rewards card and notify Capital One of your purchase within 90 days. Capital One will issue a credit for the cost of the ticket back to your account. 15,000 miles can be redeemed for a ticket costing up to $150, 35,000 miles can earn you a ticket costing between $150 and $350, and 60,000 miles can be exchanged for tickets costing up to $600. Miles can also be redeemed for merchandise or cash.

The Capital One No Hassle Miles Rewards card has no annual fee. Depending on your credit, the interest rate for both purchases and balance transfers will be either 9.9% or 13.9%. There is no balance transfer fee. There is also a 0% introductory purchase APR until October 2009.

The Capital One No Hassle Miles Rewards card is ideal for anyone with good to excellent credit who is interested in a travel rewards program, but doesn't necessarily plan to redeem miles rewards right away, since miles don't expire and can be redeemed for other rewards in addition to travel.

BLUE SKY FROM AMERICAN EXPRESS REVIEW:Apply Now | Back to Chart

Blue Sky from American Express is a good choice for consumers who want a card with a low APR, but who are also interested in earning travel rewards. The introductory interest rate is 0% for the first 6-12 months depending on credit history, with an ongoing APR as low as 11.99% for cardholders with a strong credit history. Applicants who do not qualify for the 11.99% APR may be offered an interest rate of up to 17.99%. Balance transfers submitted within the first 30 days will be subject to an APR of 2.99% for the first 12 months. All other balance transfers are subject to same interest rate as for purchases. There is also a 3% transfer fee.

Cardholders earn 1 point per dollar spent, not including balance transfers, cash advances or various fees and charges from American Express. These points can be redeemed for discounts in the form of a statement credit on eligible travel purchases, including any flight on any airline, any cruise, any rental car and any travel package. Points are redeemed in 7,500 increments, which translate to credits of up to $100. This means that with the Blue Sky rewards program, cardholders receive roughly $100 in travel rebates for every $7,500 spent.

Those with excellent credit who would like a credit card with a 0% introductory APR, a low ongoing APR, and an easy and flexible travel rewards program with no annual fee should definitely consider applying for Blue Sky from American Express.