Reward Credit Cards

[T56Maniac]

Does anyone know of a great “Rewards Credit Card” that helped out throughout flight training?

I figured since I was going to be pushing around that much cash at Flight Safety, why not obtain rewards?! I’ve looked around but it seems that the most appealing (5% cash back) “reward” programs are only awarded for purchases in three main categories; supermarkets, drugstores, and gas stations.

I was hoping for purchases toward (specifically) flight school expenses. Could these expenses be categorized into a “business rewards program?”

Any help in this area would be greatly appreciated,

T56

[launchpad]

There are a few cards out there that give rewards on any purchases....capital one and amex come to mind. I think you get more points for gas or grocery purchases. I think discover has a divident program where they just give you money back...other than that, the only aviation specific card I can think of is the AOPA one that gives you 3% cash back on aviation purchases.......

[T56Maniac]

Thanks, I'll look into AOPA and see what they have to offer.

[SteveC]

I think I heard that the AOPA cash back is going away after the first of the year. Some other rewards program coming instead. Unless I've confused it with some other card....

[AlexF]

Originally Posted by SteveC

I think I heard that the AOPA cash back is going away after the first of the year. Some other rewards program coming instead. Unless I've confused it with some other card....

Since BofA and MBNA are one and the same now, they have decided to completely change their rewards structure. Everything from BofA power rewards to AOPA rewards will be changed. As for what is happening re AOPA is as of January '07 you will recieve 1 point for every qualify dollar purchase, and at the places/FBO's where you used to get the discount, you'll instead get 2 points.

[Spbeyond]

Its probably a good idea.. But credit interest rates are high so I wouldn't just put stuff on the card because of a reward that is going to give you less than what you are paying in interest. Unless you were going to put it on a card anyway. Plus if you think you are going to put flight costs on it there isn't a credit card in the world that is going to give the adverage dude that big of a credit line. Let us know what you find out.

[T56Maniac]

Originally Posted by Spbeyond

Its probably a good idea.. But credit interest rates are high so I wouldn't just put stuff on the card because of a reward that is going to give you less than what you are paying in interest. Unless you were going to put it on a card anyway. Plus if you think you are going to put flight costs on it there isn't a credit card in the world that is going to give the adverage dude that big of a credit line. Let us know what you find out.

My initial plan was to put monthly expenses/purchases on the “rewards” credit card but pay off the total amount on the card before the end of every month. This way I would not have to pay interest on the card and would receive “rewards” by pushing cash thru the credit card company.

I have “stashed” money in a savings account that will serve as my living expenses for the next 1-½ years. I also have a loan thru Bank of America, thru FlightSafety Academy, and I also have VA bennies.

So the money is there….(not primarily on a credit card), but via the three areas stated above. However, I was initially kicking around the idea that since I was pushing around that much cash, why not obtain rewards for doing so.

I still have not found any great reward cards…but will continue to look. Let me know if you guys find anything enticing toward aviation purchases.

Thanks,
T56

[Spbeyond]

That is a good idea. You just gotta find a company that dosn't charge a bunch of fees. Again, let me know if you end up finding anything...

[ananoman]

The problem with many of the rewards cards is that you only get 1%, and the one I have tops out at $300 in rebates per year (I think). I used to get 5% on gas and groceries, but this just went away.

I used to use a GM card all the time, it gave you 5% back for a new car, the reward limit per year was high and you could carry it for 5 years, I think you could get up to $3500 off. That is gone now too.

You might want to check out a card that gives airline miles, if there are no limits for how many you can get in a year, or look into an American Express. I know the boss uses this as much as he can, and small business people seem to favor these as well. We spend a lot of money on ours, so you might want to check this out.