Continental Airlines Is Sticking It To Their Frequent Flier Credit Card Holders
Continental Airlines said this past Friday that it is reducing the number of miles it awards frequent fliers on its shorter flights and lowering any bonus miles it gives to many of its most frequent fliers. Last month, US Airways ended bonus miles for its most-frequent fliers. The main reason for the changes is coming from an unprofitable airline industry trying to grapple with record fuel prices. Even with fuel prices dropping over the past couple of weeks it is not doing enough to combat prices.
Continental says that on March 1 bonus mileage will drop from 125% to 100% for Platinum Elite members and from 50% to 25% for Silver Elite members. Fliers who annually earn 75,000 miles achieve platinum status, and those who earn 25,000 miles reach silver status. Mileage earning for Gold Elite members, who are those who earn 50,000 miles annually and get a 100% mileage bonus will remain unchanged. Beginning Jan. 1, for tickets bought on or after Nov. 15, Continental will stop giving a minimum of 500 points on flights shorter than 500 miles. Fliers will instead earn the number of miles flown.
This is proving even more that you need to get away from owning a airline mile credit card from a specific airline and get a airline credit card from a bank. The banks do not have any restrictions like the airlines and do not have to worry about things like gas prices, maintenance to the planes and union costs. They earn money on your interest and are betting that you are not going to be able to pay off your whole balance one month so they can get with a high interest rate. If you travel a lot you want to make sure you put in the time to research the best airline miles credit cards out there to help you save more money over the long run.
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