May 2, 2007
The Truth on Credit Card Reward Programs
I have been having issues using my rewards from my credit card companies. Some of you know I have been having problems reaping the rewards or getting discounts on flights with my two cards.
My pimp mile guy emailed me an article from SmartMoney.com named The Rewards Programs With the Most Bang for Your Buck.
In short, they go through a handful of rewards cards including the two I have (AMEX and Citi Elite).
In our number crunching, Citibank's Thank You Network came out ahead, with the highest per-point values in three of the five categories, and fair values in the other two. If you tend to go for a certain kind of reward, says Bilker, check out how your credit-card program stacks up against the competition. Applying for a new card? Before you sign up, ask the issuer to send you a copy of its latest rewards catalog.
OK, so I picked the right one. The AMEX card seems to have a great airline program. However, "they're next to impossible to redeem." "Because the airlines are so full [with paying customers], they don't want to give away those reward seats," says Tom Parsons.
Last night I signed up with Regus program on my AMEX. I will be in Chicago this weekend and I want to have a place I can go to work with high-speed internet and quiet. Hopefully it will work.
