6 THINGS YOU SHOULD KNOW BEFORE BUYING A JET CARD
Written By Lance Tweden | 10.22.20
A common question asked in private aviation is what is a jet card. A jet card is essentially a prepaid set agreement for an allotted amount of flight hours on a specific type of aircraft or a specific category of aircraft or a specific size of aircraft. Jet cards make flying easier and more efficient. However, these memberships vary from jet card membership to another. With hundreds of different offerings of jet cards, it is often difficult to pick which membership is the best for you. In order to choose the best jet card program for you, here are six things you should consider before selecting a specific jet card.
Firstly, one thing that you should consider when choosing is whether the company offers escrow accounts. To compare different private jet cards, research if the companies place your money into an escrow account or into segregated accounts. If your funds are in an escrow account, you protect the money that you have paid in case the jet card company goes out of business or has some other financial issue. If your funds are not in an escrow account, you risk losing all of the money that you had prepaid for the jet card membership if the company goes bankrupt. Typically, you would want them to be in an escrow account because your funds are secured until you take the flight.
Another important consideration in private jet comparisons is how the hourly rates are provided. While many individuals are accustomed to fixed hourly rates, dynamic pricing is becoming more and more common. Dynamic pricing is based upon the market prices each time you fly rather than a flat rate which means the hourly rates can rise or drop at any given moment. While fixed rates are easily anticipated, dynamic pricing is attractive to those who would take their chances that the market will work out in their favor. When comparing different jet card costs and their hourly rates, consider your preference for fixed or dynamic rates.
Hidden Ancillary Fees
If you have found a couple of options where you like the hourly rate, another important thing to look at is hidden ancillary fees that are not included in the pricing. Some of these fees could include Federal Excise Taxes, access to wifi, deicing fees, fuel surcharges, catering, and more. It is very important to pay attention to what is included because you will often pay more than just the hours of flight time. These hidden fees vary across different jet card programs.
When choosing a private jet card membership, guaranteed availability is not always provided. Guaranteed availability means that you would have the luxury of getting a private jet at any time and at any location. Since this is a very big promise, many companies do not include this in their jet cards. If you want the security of a guarantee and also want to budget your travel cost in advance, then you should look for jet card programs that have guaranteed availability.
Added Taxi Time
Another important factor to consider is the taxi time. Most jet card programs bill you for taxi time with 12 minutes per segment being the standard. However, there are some options that do not charge for taxi time. Over the course of many flights, the price paid because of taxi time can cause you to lose your flight hours quicker than expected. Due to this, it is important to look at if the companies charge for taxi time.
Type of Aircraft
Lastly, looking at the type of aircrafts available for the jet card memberships is important. If you care about the age of the planes, it would be wise to see if the companies offer older or newer models. Researching the pedigree of the jets will help you gauge the kind of jet offerings that each company is providing. In general, jet card memberships sell by either a specific type of aircraft or category for a certain price. If you have a preference for aircraft or category, make sure to research what the company offers. Considering where you will be traveling and the number of people you will travel with could help you find the best jet card program that caters to your travel needs.
While jet cards are a really cool way to travel privately, comparing the different offerings is often very difficult. Now that you know what a jet card is and the important factors to look for, you can try finding the best jet card program for you. Jet Agency’s jet card program offers a convenient pay-per-hour service that is efficient and easy. We want to make sure that the process is hassle-free and seamless for you. Importantly, there are no hidden fees or surprises! We value our clients and reward jet card membership holders with the most elite travel perks from jet grade upgrades to complimentary catering. Call today for more information on how to sign up for a jet card membership with Jet Agency!
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