What are the benefits of the Bank Accelerator Program?
The Bank Accelerator Program is a way to accelerate your points through existing bank transfers and beyond the limits imposed on credit cards. The easiest way to maximise your earnings is to utilise your credit card up to the cap, then switch to bank transfers to pay your remaining bills and invoices.
Depending on your card issuer, there may be hard or soft caps imposed on your credit card.
- Soft caps: Restrict points earning after hitting the cap by reducing the number of points you earn per dollar spent.
- Hard caps: Stop points earning altogether after hitting the cap, meaning you can only earn a maximum number of points per month.
Those with soft caps on their cards often feel that they are still earning, but the truth is that they could be earning so much more. Having a bank transfer program that allows you to earn more Frequent Flyer points gives you the freedom to travel no matter the transactions you make each month.