A Great Credit Card...If You Like FREE Travel!

Thomas K. Hedge D.D.S., F.A.C.E.
The Profitable Dentist
September 2000

Every dentist should have at least one affinity credit card to pay for supply, laboratory, and miscellaneous expenses.  An average laboratory bill will be 10% and dental supplies will be 6% of production. A practice producing $500,000 per year can put $80,000 in charges on a credit card. All supply companies accept credit card payments. If your lab doesn't you should suggest they make arrangements to, or find another lab.

There are two definite advantages to using a credit card to pay these bills. First, it gives you an additional 30 days of "float" on your money.  The second, and perhaps the greatest advantage is that you can accumulate points for free airline travel.

Most of the airlines issue their own credit cards. You can accumulate miles on their frequent flier programs. The problem with these cards is that restrictions exist as to the number of seats available to frequent fliers and they have certain blackout dates. It seems that when you want to travel, you can never get a ticket because of all the restrictions.

Firstar Bank has the ELAN VISA TRAVEL REWARDS PROGRAM platinum card. Earn one point for each net purchase dollar charged to your account. Starting at 18,000 points, you can redeem points for free round trip tickets on any domestic or foreign airline with no seat restrictions or blackout dates. Round-trip tickets to Europe cost you 50,000 points. You can redeem points for coach, business, and first-class tickets.

To redeem points, you can call a toll-free number and the program travel agency will book your tickets. You even earn frequent flier miles for these travel segments. The program gives you 2,500 bonus miles for signing up. The fee for the program is $55 per year. (Points are capped at 10,000 per month.)

Based on this program, the average practice should be able to accumulate at least three round trip tickets anywhere in the U.S. for $55 per year. Not a bad deal.

This card also has many other benefits. One million dollars in travel accident insurance, year-end charge summary, extended warranty coverage, and a 25-day grace period, are but a few of the advantages. Call 1-800-320-2282 for more information or an application.