Besides finding credit cards that have no interest, or at least a low interest rate, we want other perks from our credit cards.
We want our credit cards to pay us back like the Amazon.
com Rewards Card that will give us Amazon.
com gift certificates.
Another way credit cards can give back is to offer frequent flyer miles.
The American Express-Delta Airlines SkyMiles is one such credit card that allows you to earn frequent flyer miles.
Here's the good, the bad and the ugly about the American Express-Delta Airlines SkyMiles program.
Basically the Delta Airlines SkyMiles program offers you an American Express credit card that allows you to earn frequent flyer miles with purchases.
The great news: There's no annual fee the first year.
The good news: You can get mega sign up bonus points.
The fluctuating news: The interest rate is 9.
99% plus prime, so depending on the interest rate, it can be higher or lower.
The bad news: American Express is not accepted as widely as Visa and Master Card.
The ugly news: After the first year, the annual fees will be $55.
00 to $125.
00.
American Express-Delta Airlines SkyMiles Options & Sign Up Bonus Miles: There are three options available at sign up, Standard, Gold and Platinum and each offers a difference in airline miles: Standard: 5,000 Delta miles Gold: 10,000 Delta miles Platinum: 15,000 Delta miles following your first purchase Our first year we were able to rack up 16,000 with our bonus points and grocery purchases.
It takes about 25,000 frequent flyers to earn a free domestic flight.
How Do American Express-Delta Airlines SkyMiles Accumulate? You can earn frequent flyer miles every time you use your American Express Delta SkyMiles credit card but with American Express Delta miles are even easier because when you make specific purchases, your miles are doubled.
Examples of purchases that have offered double the miles include grocery stores, gas stations, drug stores, the U.
S.
postal service and some home improvement store.
There is an annual limit of points for $100,000 in purchases, which usually isn't a concern for most credit card users.
So what are the rates and fees? American Express Delta SkyMiles Fees: The interest rate is tied to the prime and therefore variable.
American Express adds 9.
99% to the prime.
Recently, our interest rate was 14.
74%.
Balance transfers have a lower fixed interest rate of 9.
99% for the life of the transfer if you make your transfer during the first 6 months of your card membership.
Cash advances though will cost you a little more.
For cash advances the interest rate is the prime rate plus 12.
99%.
It's important to note that cash advances or transfers do not translate into frequent flyer miles.
After the first year, the annual fees apply.
Standard: $55.
00 Gold: $75.
00 Platinum: $125.
00 The frequent flyer miles in this program really can put you ahead even after the annual fees but of course you can also cancel as the end of the first year approaches and pack up and walk away with your frequent flyer miles.
Even though the American Express Delta SkyMiles Cards is that American Express is not as widely accepted as Master Card and Visa, it's still easy to earn lots of frequent flyer miles.
This card is recommended at least for the first year with no annual fee.