Credit card travel upgrades can be extremely lucrative if utilized properly, but before making this step it’s important to keep several factors in mind.
At first, it is important to choose which card to upgrade. Most card issuers only permit upgrades within a particular family of cards.
Sign-up bonuses
Upgrades of credit cards can offer many advantages, from earning higher travel points and access to premium perks like airport lounge access. Just be wary if the annual fee of the new card exceeds that of your current card – additional points might not make up for a higher annual cost.
Frequent Flyer miles earned from credit card rewards programs are one of the easiest ways to upgrade without incurring full price, even without elite status or other perks such as schedule flexibility.
To upgrade an airline ticket using membership rewards points, simply offer them during your reservation process. If the airline accepts, the dollar amount will be charged directly to your Card Account with any credits reflected back to Membership Rewards program account as per number of points offered credited back against a number of points offered and applicable taxes or fees not covered by points offered may also need to be covered by you separately.
Earnings
As travel becomes more prevalent, more people are contemplating upgrading their credit cards in order to take advantage of the higher earning power and benefits provided by premium travel cards. Before making such an important decision, however, make sure you consider whether its annual fee is worth your while.
Consider whether or not your credit card enables you to upgrade an airline ticket using points, or redeem them for statement credits within a specified time period. Unfortunately, this feature is only available with some airlines; typically exclusive status members can utilize their miles to upgrade both themselves and guests free of charge.
Some card issuers consider an upgrade as opening a new account, which can adversely impact your average credit age and score. You will also get a new card number that must be updated with any recurring charges.
Changes in card type
Credit card issuers offer their customers several upgrade options when upgrading to new cards, from higher rewards rates and enhanced airline and hotel perks, to upgraded rewards rates and rewards programs. Selecting the optimal card depends on your goals and spending habits – compare benefits before upgrading!
Switching card types may also have an effect on your credit, since some upgrades count as new accounts and therefore reduce your average account age. But the benefits of a new card should outweigh its costs associated with higher annual fees.
Upgrade a secured credit card to an unsecured one by calling your card issuer’s customer service and speaking to one of their representatives. They will explain all of the benefits and fees of upgrading, read through and explain any terms/disclosures pertinent to your card upgrade, as well as perform any required processing steps if applicable. Depending on your individual circumstances, this may be faster than applying for a new card altogether.
Customer service
If you want to upgrade your credit card type, simply call your issuer and request it. They will ask which card would best meet your needs before informing you of its benefits and terms; in turn they’ll likely offer you one that fits within their range – though welcome bonuses won’t necessarily follow unless the new card matches up with what your current one offers.
Membership Rewards points can be used to upgrade airline ticket reservations. Your offer will either be accepted or declined by airlines and you will be informed via email before your departure date of their decision. However, any applicable taxes and fees on an upgraded ticket will still need to be paid by you; any such charges will appear separately on your Card Account bill cycle.
