I was wondering if anyone had any comments about the Providian Premium Points program.

1 point for each $1 of Net New Purchases at the end of each billing cycle.

Redemption rewards include:
20,000 Points for a Round-Trip airline ticket in the 48 contiguous United States (up to $500 Value). Although if you read the terms it says that for the 20,000 point level a $500 discount travel reward can be applied toward the cost of any airline ticket and not just to a destination within the 48 states.

15,000 Points gives you $150 off any airline ticket, which might be a better deal if the ticket is that cheap anyway.

There is no limit to the number of points you can earn.

Only catch is not to keep a balance -- 23.99%

Any thoughts? Any ideas on how to maximize the points if it is worth it?

Thanks!
Adam