Sometimes we’re plagued by what if questions.
Throughout the past week, I’ve been getting emails and blog comments regarding the 100,000 British Airways mileage offer. Some of you have never signed up for a card to get points, and I have the impression that you’re a little nervous about the whole thing.
You wonder how you’ll feel if you sign up for the card and can never use the miles.
The first thing you ought to do is to read my new eBook How to Earn Frequent Flyer Points from the Comfort of Your Living Room. I think a lot of people have misunderstandings about the world of miles. They’re really great to have if you have the right expectations. I think you’re less likely to be disappointed if you know what your getting.
Then you need to ask the following question:
What’s there to lose if I sign up for the 100,000 BA miles offer?
Loss #1 – One hard credit card inquiry. That will result in a 2-5 point FICO score reduction. However, if you’re on the fence here, I suspect that it’s been a while since you’ve signed up for a credit card. That minute change will likely be a null issue.
Loss #2 – $95 annual fee. No doubt. You will pay $95.
Loss #3 – What if I can’t spend $2,500 in 3 months? Then you end up with 50,000 BA miles. That’s nothing to scoff at, as it’s still about $1,000 worth of flights.
Loss #4 – Time. You do need to spend the time necessary to sign up for the card and then cancel it later. Total time investment shouldn’t be more than 20 minutes.
In my books, these possible losses are worth the risk when compared to the potential gain: $2,316.91 worth of travel.