This is how long you should keep airline credit cards

Considering getting an airline credit card? Think twice about how long you’ll keep it.

Personal-finance website ValuePenguin analyzed 22 credit cards from the 10 largest U.S. airlines to find which have the most value.

One of the biggest findings: Airline credit cards have the most value in the first year. Airline cards often come with big sign-up bonuses but, in subsequent years, the value falls off considerably. The average sign-up bonus for the cards ValuePenguin analyzed was a whopping $400. Some cards on the higher end had bonuses worth much more.

Their declining value is an important consideration, especially as these cards have an average annual fee of $127, the analysis found.

Some cards were more valuable over time than others, the report said.

The most valuable, according to this ranking: The Visa Signature card from Alaska Airlines which offers the most value because of its large sign-up bonus, companion fare discounts and checked bag fees. (The airlines and credit-card companies cited in this story did not respond to request for comment on ValuePenguin’s study.)

Close behind was Delta’s   Platinum SkyMiles card, followed by the Citi/AAdvantage Platinum Select World Elite Mastercard (American Airlines) Southwest’s  Rapid Rewards Plus credit card and Southwest’s Rapid Rewards Premier credit card.

Credit card	Two-year net value (estimated, for a single person)	Two-year net value, estimated for a married couple	Two-year net value, estimated for a married couple with children
Alaska Airlines Visa Signature	$1,104	$1,897	$2,305
Platinum Delta SkyMiles	$1,014	$1,892	$2,249
Citi/AAdvantage Platinum Select World Elite Mastercard	$1,148	$1,803	$2,198
Southwest Rapid Rewards Plus	$1,024	$1,579	$1,974
Southwest Rapid Rewards Premier	$1,015	$1,570	$1,965
United MileagePlus Explorer	$938	$1,442	$1,817
Gold Delta Skymiles from American Express	$876	$1,380	$1,737
JetBlue Plus	$789	$1,365	$1,759
AAdvantage Aviator Red Mastercard	$827	$1,323	$1,695
Hawaiian Airlines World Elite Mastercard	$595	$1,150	$1,224

To determine how much value single people and married couples could get out of the cards, ValuePenguin estimated how much they would spend each year on airfare, groceries, gas and restaurants, based on the Bureau of Labor Statistics’ Consumer Expenditure Survey. They then calculated how many points or miles each person would earn, based on that spending profile.

ValuePenguin assumed a single person did all their spending on the one card for the year and, for married couples, all of their spending on the one card, plus an authorized user. The rewards earned are for two years of spending, minus the annual fees.

The cards also have different values for the “points” or “miles” they award, because they vary by airline. The Points Guy website tracks the valuation of points and miles monthly.

When considering which card (if any) they should choose, consumers should consider not only the bonuses and valuation of points, but also additional benefits like free checked baggage, companion fare discounts and where the airlines fly, ValuePenguin said.

And cardholders who can’t pay their bills in full each month will likely offset any benefits they earn, as their bills will collect interest.