Archive for the 'Credit Cards' Category
Wednesday, May 15th, 2013
Shoprunner is similar to Amazon Prime in that it offers unlimited free 2-day shipping with no minimum order amount from a variety of online merchants including Newegg, Babies R Us, Blue Nile, Sports Authority, Drugstore.com, and GNC. It also allows you free return shipping and the ability to ship to any address, making it handy for gifts.
If you have an American Express card, you can now get a free 1-year membership at Shoprunner or a 1-year extension on an existing membership by going to shoprunner.com/americanexpress. You’ll need a consumer or business American Express card issued by an AmEx-affiliated bank (Starwood Preferred yes, Blue Cash Preferred yes, Business Gold yes, Costco yes, FIA/Fidelity no, Citibank no, prepaid versions no).
Read the rest of this entry…
Posted in Credit Cards, Deals & Offers | 11 Comments »
Tuesday, May 7th, 2013
Review updated to add gift card discount information (5% to 10% off) and Jot business expense feature (snap and tag pics of business receipts).
The Ink Bold® Business Card is a premium small business being offered by Chase, directly competing with the biz cards from American Express. If you have a small business including freelance or online eBay/Etsy sales, using a business card allows you to separate your personal and business expenses as well as get some nice rewards in the process. Just to get you to try it out, Chase is offering 500 bucks in the form of 50,000 bonus Ultimate Rewards points after spending $5,000 in the first 3 months your account is open.
50,000 Ultimate Rewards points can be redeemed for $500 cash (real money, via statement credit or check) or 25% extra = $625 when used towards airfare, split up however you like into multiple tickets. If your total is more than $625, you simply pay the difference. I’ve used this feature and it’s very easy and flexible to book airfare using their points (system and prices are like Expedia, Travelocity, etc). Here’s an example of combining cash and points:
If you prefer, you can also transfer points to British Airways Avios miles, United Airlines miles, Hyatt hotel points, and Marriott hotel points. 1 Chase point = 1 mile/hotel point for these transfers, so that’s 50,000 miles.
Until 6/30/13, Chase is offering a special 10% discount on gift cards from the following retailers: Kohl’s, Land’s End, Olive Garden, Outback Steakhouse, and Regal Movie Theatres. This means that 9,000 points = $100 gift card, a savings of 1,000 points off the usual prices. This means you can get over $550 in gift cards using 50,000 points.
You’ll also earn up to 5 points per $1 spent on the first $50,000 spent annually on eligible business purchases:
Read the rest of this entry…
Posted in Credit Cards, Deals & Offers | 36 Comments »
Tuesday, April 16th, 2013
(Update: New limited offer of 50,000 bonus Membership Rewards points – $500 value. Details below.)
The Business Gold Rewards Card® from American Express OPEN is an premium charge card for small businesses where you must pay off the balance each month, but you get the AMEX perks like purchase price protection, extended product return protection, and the famous AMEX extended warranty that actually pays out. Here are the highlights:
- Earn 50,000 Membership Rewards points after you spend $5,000 in purchases on the Card in the first 3 months of Card membership.
- 3X points on airfare purchased from airlines. 2X points at US gas stations. (Up to $100,000 in each category per year, then 1 point.)
- Reduce travel costs, show appreciation for employees and clients, and offset everyday expenses by using points to get something back and grow your business.
- Earn points even faster to get more rewards for your business.
- $0 introductory annual fee for the first year, then $175
- Terms and limitations apply.
- Apply online to qualify for this offer. See offer terms for details.
50,000 Membership rewards points can be redeemed for $500 in gift cards to stores like Home Depot and Macy’s, 50,000 airline miles at a variety of partners, or $500 worth of any travel booked at American Express Travel (comparable to Travelocity, Expedia).
Note: “Welcome bonus offer not available to applicants who have had this product or any other Business Gold, Green or Platinum Card® account within the last 12 months.” I’m not eligible for this one because I already got this exact card in January, but check out my post on apply for multiple American Express cards for ways to maximize your bonuses even more.
Business Credit Card Eligibility
Many people aren’t aware that they can apply for business credit cards, even if they are not a corporation or LLC. Any individual can be a small business. Perhaps you sell items on eBay, Craiglist, or Etsy. Maybe you do some graphic design, web design, freelancing and/or consulting. If you received a 1099-MISC tax form and filled out a Schedule C, that means you have business income, you pay self-employment taxes, and you’re a sole proprietorship. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.
This card will require you to personally guarantee that you’ll pay them back what you charge on the card, which means they’ll check your personal credit score like any other consumer card. However, as the card is a business card, American Express won’t have it show up on your personal credit report, so it won’t change things like your credit limits, average account age, or credit utilization ratio.
“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”
Posted in Credit Cards, Deals & Offers | 31 Comments »
Thursday, April 4th, 2013
The new Barclaycard Arrival World MasterCard is a new premium travel rewards card with a nice sign-up bonus and also works out to 2.2% cash back towards travel. This results in card that may be the best option for people who like to travel but aren’t loyal to any specific airline program.
Sign-up Bonus: 40,000 miles = $400 off your next trip
There is a limited-time sign-up bonus of 40,000 miles after you make $1,000 in purchases in the first 90 days from account opening. This is double the previous bonus of only 20,000 miles. 40,000 bonus miles is redeemable towards $400 in cash credit towards any travel purchase, plus 4,000 miles rebated back. (Details below.)
Rewards Structure: 2.22% Cash Back Towards Any Travel
With this card, you earn 2 miles per $1 spent on all purchases; no special categories. These miles (easier to think of them as points, really) are then redeemable towards travel booked from any merchant or retailer classified as Airlines, Travel Agencies & Tour Operators, Hotels, Motels & Resorts, Cruise Lines, Passenger Railways and Car Rental Agencies.
Simply charge your travel to the card (Expedia, Travelocity, Delta.com, Hilton.com, etc.) and then go online to redeem via a statement credit within 90 days of the charge. This way there are no blackout dates, extra booking fees, or hunting around for award seats. The minimum redemption is 2,500 miles for $25.
On top of that, the card gives you a 10% miles rebate when you redeem for travel. So in that 40,000 redemption example above, you would actually get you 4,000 back for a net cost of 36,000 miles. Getting $400 of value out of 36,000 miles at 2X miles/$ spent works out to 2.22% cash back towards any travel. That is very high in terms of easy conversion to cash value.
Other Card Highlights
- Free subscription to TripIt Pro mobile travel organizer ($49 annual value), which tracks your itineraries, tracks miles balances, notifies you of airfare price-drop refunds, and includes complimentary 1-year memberships to Hertz #1 Club Gold and Regus Gold.
- 0% introductory APR on purchases for the first 12 months after account opening. After that, variable APR, currently 14.99% or 18.99%, based upon your creditworthiness.
- No mileage caps, no mileage expiration
- No foreign transaction fees
There is a $89 annual fee that is waived for the first year. Balance that with the $400+ opening bonus + 2.22% cash back the first year, and the ongoing 2.22% cash back past the first year. There is also a Barclaycard Arrival World MasterCard with no annual fee that is similar but has a lower 20,000 bonus miles but only 2X miles on travel and dining purchases as opposed to all purchases. I will probably try to downgrade the card to the no annual fee version after a year if I don’t think the 2X miles is working out for me. Barclayscard does offer instant approval; if you don’t get it call their credit analyst line at 1-866-408-4064.
Posted in Credit Cards, Deals & Offers | 17 Comments »
Thursday, March 28th, 2013
Update for 2nd Quarter of 2013… Activate now! Here’s my quarterly update on credit cards that offer a hefty 5% cash back on certain categories that rotate each quarter. Even though some people don’t like to bother, with a little extra attention I can easily rack up hundreds of dollars in additional rewards per year without otherwise changing my spending habits. None of these have an annual fee, so it costs me nothing to keep them around. Many also offer sign-up bonuses to new cardmembers.
Chase Freedom® Visa – $100 Bonus Cash Back
Reward categories change quarterly. From April 1st to June 30th, you can earn 5% cash back on up to $1,500 spent in the following categories:
- Restaurants
- Movie Theaters
- Lowe’s
You must enroll each quarter at ChaseBonus.com, but it’s very quick and as long as you activate by the end of the quarter the rewards are retroactive. All other purchases earn 1% back, with no tiers or expiration of rewards. Currently, the Chase Freedom® Visa – $100 Bonus Cash Back is offering a $100 bonus cashback if you sign up and make just $500 in purchases in your first three months. No annual fee.
- To apply, visit any link above or call l 866-943-9615
Citi® Dividend Platinum Select® Visa® Card
Reward categories change quarterly. From April 1st to June 30th, you can earn 5% cash back from Citi on eligible purchases at:
- Home Furnishing Stores
- Home & Garden Stores
- Home Depot
Enroll by logging into your account online or calling 1-800-231-0891 (not retroactive). There is no cap on the 5% back, except for the $300 overall cap on all dividend rewards annually. Full 1% cash back on all other purchases and eligible cash advances and rewards do not expire as long as you have activity once every 12 months.
Currently, the Citi® Dividend Platinum Select® Visa® Card has a promotion offering $100 cash back after $500 in purchases within the first 3 months of account opening. 0% Intro APR on Balance Transfers and Purchases for 12 months. After that, the APR will be 12.99%-22.99% variable based on your creditworthiness. No annual fee.
Discover It® Card (new, better card!)
Reward categories change quarterly. From April 1 to June 30, you can earn 5% cash back on up to $1,500 spent in the following categories:
- Home Improvement Stores (sense a theme yet?)
You must login into your online account page and activate the rewards each quarter. The new Discover It® card now has a flat 1% cash back (no more tiers!), late-payment forgiveness, and direct-to-human, 100% US-based customer service reps. No annual fee.
Don’t forget to also check out my list of the best cash back rewards credit cards, which include an American Express that gives 6% back on groceries and 3% back on gas.
“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”
Posted in Credit Cards, Deals & Offers | 30 Comments »
Thursday, March 21st, 2013
If you have a Citi credit card or a Citibank account with the ThankYou points rewards system, you have a wide array of options to redeem your points at ThankYou.com. But while that fancy coffeemaker may look nice, chances are the cash equivalent value for your points is quite poor. I’ve covered this in bits and pieces before, but here’s a complete guide to getting the most value out of your points.
Eligible ThankYou accounts (* are the ones I have linked to my account):
- Citibank checking accounts – 10,000 to 40,000 bonus ThankYou points for opening an account, plus another 500+ points per month for various banking activities.
- Citi ThankYou® Card – 0% APR fo 15 months on balance transfer and purchases. No annual fee.
- Citi ThankYou® Preferred Card – 15,000 bonus ThankYou® Points after $1,000 in purchases within 3 months of account opening. No annual fee.
- Citi ThankYou® Premier Card – 25,000 bonus ThankYou® Points after $2,000 in purchases within the first 3 months. $125 annual fee, waived first year.
- Citi Forward® Card for College Students – 5X points on restaurants and entertainment and bookstores which includes Amazon.com (!)
- CitiBusiness ThankYou® Card* – 15,000 bonus ThankYou® Points after $3,000 in purchases within 3 months of account opening. 3X points in rotating categories. No annual fee.
Best Value Option #1: Limited Time Offers
If you have either patience or luck, Citi does offer “sales” on gift card redemptions which can reduce the cost of a reward by up to 25%. For example, right now until 3/31 you can get a $50 Home Depot gift card for 4,500 points. Normally, you’d need 5,000-6,000 points. That equates 1.11 cents in gift card value per point. If you wanted cash, you could sell a Home Depot gift card at PlasticJungle.com for 87% of face value in cash, 91.35% in Amazon.com gift certificates. That equates to 0.967 cents per point in cash.
Previously ThankYou point sales have involved gift card to other popular retailers like Wal-mart, Lowe’s, Kohl’s, Best Buy, Gap, and Macy’s. The regular price is usually 1 cent in gift card value per point.
Best Value Option #2: Student Loan & Mortgage Rebate Checks
Read the rest of this entry…
Posted in Banking, Credit Cards, Deals & Offers | 15 Comments »
Thursday, February 28th, 2013
Update: Southwest has brought back their excellent two roundtrip flights offer after you spend $2,000 in the first 3 months of opening your account. Specifically, the bonus is 50,000 Southwest points which are good for over $800 in airfare, or $500 in Amazon.com or Wal-mart gift certificates. Another opportunity to *save* money with credit cards as opposed to losing it paying interest.
The huge “2 roundtrip flights” banner on the Southwest Airlines Rapid Rewards® Premier Card application page is based on the fact that one round-trip $416 Wanna Get Away fare would cost about 25,000 points. In reality, the value of the bonus is $833 in Southwest airfare broken up however you like. Any Wanna Get Away fare is eligible, so this bonus is very useful for Southwest fliers. If you take shorter flights or wait for a fare sale, this could easily be worth multiple free flights. This is a limited-time offer, and has gone to down to 25k in the recent past.
Details
- Two free checked bags. Southwest always offers 2 free checked bags on every flight.
- No ticket change fees. If you can’t make your flight, you can move your flight later or earlier as needed and just pay any fare difference without any penalties. Wanna Get Away fares are the cheaper fares that the vast majority of non-business frugal travelers buy. Anytime fares add the option to be refunded for cash. Business Select adds Priority Boarding.
- September 11th Security Fee? Applies to award flights, and is $2.50 each segment, up to $10 roundtrip. For a nonstop roundtrip, it’s $5.
- More redemption options. You can also redeem points on hotel stays, car rentals, international flights, and gift cards. For gift cards in general, 5,000 points = $50 value. Specifically, you can redeem 50,000 points for $500 in gift certificates at Amazon.com, Home Depot, Lowe’s, and Wal-mart. A good alternative if you don’t fly much or don’t live close to a Southwest city.
- $99 annual fee. However, you do get 6,000 bonus points each anniversary date which again is worth $100 towards a Wanna Get Away fare. The card also earns 1 points per dollar spent everywhere, which effectively means 1.67% back toward Wanna Get Away airfare, with double points given on Southwest airfare and affiliated hotel/car rental purchases.
- Companion pass eligibility. The 50,000 points earned through this card counts towards the 110,000 points you need in a calendar year to earn the Companion Pass, which allows a companion to fly free with you (paid and award flights) for the rest of that calendar year and also all of the next year.
- No foreign transaction fees.
Application Tips
If you have any issues with approval, call the Chase credit reconsideration line at 1-888-245-0625 and talk to a human. Ask them politely for the exact reason why you were denied, and offer to cancel, merge together, and/or lower your existing credit lines in order to get the new card you want. Many times you’ll just be rejected by a computer that says you have too many cards or something. You should be offered some way to get approved, I have heard many success stories. They want your business.
- Southwest Airlines Rapid Rewards® Premier Card application link
Posted in Credit Cards, Deals & Offers | 112 Comments »
Wednesday, February 20th, 2013
American Express is running another limited time offer on the Business Platinum Card from American Express OPEN. This small business card won’t be for everyone, but if you travel regularly and value convenience, this offer is a way to effectively get a year’s worth of airport lounge access for you and your family for free.
- Limited Time Offer: Get 25,000 Membership Rewards points after you spend $5,000 in the first three months of Card membership. Sadly, the normal bonus for this business card is zero points. You can transfer 25,000 MR points into 25,000 airline miles (more with seasonal promotions), or you can get $250 in gift cards at store like Home Depot or Macy’s. Or, you can use the Pay with Points feature to get $300 towards travel booked through American Express Travel which is comparable to Expedia, pick any flight, etc. (1 cent = 1 point, but Platinum cardmembers get a 20% rebate, so a $300 ticket would only cost a net 24,000 points).
- You also get $200 of auto-refunded statement credit annually with the airline of your choice to use towards baggage fees, flight-change fees, in-flight food and beverage purchases and more. Essentially, anything other than airfare that’s charged to your designated airline (ex. American Airlines or AA.com, even gift cards) will be automatically be credited back to you up to $200.
- This card will pay for your $100 application fee for Global Entry, a U.S. government program that provides you expedited clearance when returning to the US after international travel. You basically go through a background check, and if you’ve traveled recently you may have noticed little kiosks where people whisk by after scanning their passports instead of standing in the long customs lines. Lasts for 5 years before you have to renew.
- Free Starwood Preferred Guest Gold Preferred status. Free late 4pm checkout, room upgrades when available, and free internet access.
- Free elite status at car rental companies. Get automatic upgrades with complimentary access to the premium car rental programs of Hertz, Avis, and National.
- No foreign transaction fees.
- Free airport lounge access for you and your family. Get access to the first-class lounges, even if you are flying coach. Valid at American Airlines Admirals Club, Delta Sky Clubs, US Airways Clubs. One card will cover you and two companions, or your spouse and children under 21. Also, you get an individual membership to Priority Pass Select, with 600+ airport lounges throughout the world when you enroll in Priority Pass Select (many international ones have shower facilities).
- The annual fee is $450. It is not waived the first year.
So there you have it. The annual fee is $450, and you’ll have to decide if you can get $450 of value from the above benefits. If you take full advantage of the $300 towards booked travel using Pay with Points, $200 airline credit, and $100 application fee, then you’re definitely already ahead. Then, on top of all that, you’ll get unlimited airport lounge access for you and your family for an entire year. Finally, the $450 annual can be a deductible business expense which can offset the net cost. Is this better than an upfront point bonus? That’s up to you.
Note: “Welcome bonus offer not available to applicants who have had this product or any other Business Gold or Green Card account within the last 12 months.” So I’m currently out after my last AmEx application spree.
There is also a personal version of this card, The Platinum Card® from American Express, which has a similar offer of 25,000 points after $2,000 in spending within 3 months.
“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”
Posted in Credit Cards, Deals & Offers | 4 Comments »
Monday, February 11th, 2013
(Expired.) Here’s a rather convoluted promotion from American Express and Twitter that will get you a $25 American Express gift card including shipping for only $15. But I’ve gotten a lot of free money from these social media deals, so I really shouldn’t complain. Here are the directions, adapted from the fine print:
- Link your American Express card and Twitter account at sync.americanexpress.com/twitter. If you wish to change your linked card (or just make which one is linked), go to sync.americanexpress.com/unsync.
- Tweet using #BuyAmexGiftCard25.
- Receive a response message (tweet) from @AmexSync asking you to Tweet #ConfirmAmexGiftCard25. (It should arrive almost immediately. If you’re waiting more than few minutes, try doing the next step anyway, it worked for me and I got a purchase confirmation.)
- Confirm your purchase and authorize American Express to charge your Card by Tweeting #ConfirmAmexGiftCard25 within 15 minutes.
- Receive another response message (tweet) from @AmexSync confirming successful purchase.
- Receive a confirmation email from American Express stating that the product has been purchased successfully, including all purchase details.
In the end, your linked American Express card will be charged $15, and they’ll ship a $25 gift card to you via 2nd-day shipping to your card’s billing address. Limited quantities. I guess now they want you to be able to buy stuff just by tweeting something specific. Most likely, I’ll just use this card to buy a $25 Amazon gift certificate online and keep things simple.
If you have multiple American Express cards, the terms state “Limit one (1) purchase per Card per product.” So it seem you can get multiple gift cards, although you may need multiple Twitter accounts for multiple AmEx cards. Still, an easy $30 over 3 accounts for our two personal accounts and @mymoneyblog. 
Posted in Credit Cards, Deals & Offers | 5 Comments »
Wednesday, January 30th, 2013
I’ve been getting some questions related to credit reports – perhaps it’s the New Year and people are trying to get back on track? Sounds like a good idea no matter what, so here’s a braindump, er… ongoing compilation of all the ways I can think of to get free credit reports, free credit scores, and free credit monitoring services.
Remember that there are three major consumer credit bureaus – Equifax, Experian, and TransUnion – all with possibly different data. A few of these offers require a free trial and noted as such, which is not preferred but I am not completely opposed to as you’re getting something of value for free. My personal rule is that I always cancel them the SAME DAY, preferably within an hour after saving what I need, that way there is nothing to forget. I’m only human as well!
Free Credit Reports
Fair Credit Reporting Act (FCRA). Visit AnnualCreditReport.com or call 877-322-8228 to request your federally-mandated free credit report from one or all of the 3 major bureaus. You can get one from each every rolling 12 months, so either get them all once a year or space them out. No trials, no credit card required, although the bureaus may try to sell you a credit score.
Special Situations – Denied Credit, Unemployed, Welfare, Identity Theft. As outlined by the Federal Trade Commission, here are a few other scenarios where you also get a free credit report:
- You were denied credit, insurance, or a job due to information on your credit report. A notice stating which credit bureau supplied the report should be included in your letter of denial. You then have 60 days to request a free copy of your report from them.
- You are unemployed. You’re also entitled to one free report a year if unemployed and plan to look for a job within 60 days.
- You are on welfare.
- You are a victim of fraud, including identity theft. Place a fraud alert on your file, and then ask for a free copy of your credit report.
Here are the numbers you’ll need (remember to mention FTC if needed):
* Equifax: 800-685-1111; Fraud Dept. 800-525-6285
* Experian: 888-397-3742 (same for Fraud Dept.)
* Trans Union: 800-916-8800; Fraud Dept. 800-680-7289
MyFICO Score Watch Trial. If you sign up for a free 10-day trial at MyFICO.com, you’ll get a free Equifax credit report and Equifax FICO credit score. You’ll need a credit card. You must call 1.888.577.5978 to cancel. My recommendation is to get your credit report and credit score, print or save to PDF, and then cancel immediately afterward on the same day so that you won’t forget later. Hours (PDT) M-F 6am-6pm, Sat 7am-4pm, Sun Closed.
Free Credit Scores
Your credit score. Did you know that you have probably 50 flavors of your credit score. Even the “real” FICO score comes in several different versions, and there’s one per bureau. Personally, I would never pay $10-$20 a pop for a score. Many of the free providers below will also provide selected information directly from your credit reports, like overall credit limit utilization or total balances.
Credit Sesame / Experian. You can get a free credit score based on your Experian credit report from Credit Sesame, updated every month. They make money by sending you offers like lowering your mortgage rate. Screenshot:
CreditKarma / TransUnion. Similarly, get a free credit score based on your TransUnion credit report from CreditKarma.com, updated daily as long as you login each time. Also ad-supported. Screenshot:
MyFICO Trial / Equifax. Same as above… If you sign up for a free 10-day trial at MyFICO.com, you’ll get a free Equifax credit report and Equifax FICO credit score. You’ll need a credit card. You can try to cancel online, but it told me that you must call 1.888.577.5978 to cancel. My recommendation is to get your credit report and credit score, print or save to PDF, and then cancel immediately afterward on the same day so that you won’t forget later. Hours (PDT) M-F 6am-6pm, Sat 7am-4pm, Sun Closed.
Citi Idenitity Monitor Trial. Finally, if you’re willing to spend $1 and endure a trial, you can sign up with Citi Identity Monitor get a free credit score and free credit reports from each of the three major bureaus. After you submit your personal info, enter your credit card info, and choose your username/password, be sure to opt for the “free upgrade” which will give you the 3-in-1 report. You’ll have to call 866-279-9637 to cancel within 30 days. Again, cancel the same day if possible. Hours (ET) M-F 8am-11pm, Sat 9am-6pm, Sun Closed.
Free Credit Monitoring
Credit monitoring checks your credit report data daily and sends you an email or text alert if any activities have occurred – for example, if there was a credit pull by a lender or a new address added. This can provide early warning of attempted identity theft, reporting errors, or simply am overzealous lender checking your credit without permission. Many providers charge $10-$20 a month for similar monitoring, and while it’s potentially useful I’ve never warmed to the idea of paying a hundred bucks a year for it.
Credit Sesame. You can get free daily credit monitoring based on your Experian credit report from Credit Sesame. If you’ve already signed up for the free Experian-based credit score, it’s a very simple opt-in. This service worked like a champ when tracking inquiries for credit card bonuses like my multiple American Express applications in one day. Screenshot:
Selected AAA Members. If you’re an AAA auto club member, you may be eligible for free Experian credit monitoring as well. To see if your local club offers this, visit aaa.com/identitymonitoring.
CreditKarma. Get free daily credit monitoring of your TransUnion credit report from CreditKarma.com, also easy to add if you already subscribe to their free TransUnion-based credit score.
Posted in Credit Cards, Deals & Offers | 7 Comments »
Wednesday, January 23rd, 2013
Here’s some potentially useful information for folks like me that like trying out new credit cards and using the promotional bonuses to boost their income (or reduce spending, however you like to look at it).
As there is a limited-time promo and I want the American Express extended warranty for some upcoming appliance purchases (don’t buy Frigidaire washers/dryers!), I just applied and got instantly approved for three different American Express cards on the same day:
You can see the date and approved status on this screenshot from the American Express application status page:
Now, this isn’t for everyone, and I’m not saying that because it worked for me that it will work for you. If you apply for multiple American Express cards in the same timeframe, the goal is that you’ll only get one credit check “hard pull” on your credit report. (Usually, only one of the three major bureaus, that’s what happened last time.) This makes the temporary ding on your credit score even less than doing them separately, giving you both more cards now and leaving you the opportunity to apply for future offers later. Your chances of getting approved for multiple cards also improves as compared to doing them spaced out, as you don’t have other existing cards in your history.
It’s always good to start each card application with a fresh web browser and cleared cookies as that makes everything standardized. I just open them in a new Chrome Incognito window each time, as it automatically cleans everything up. I apply for each card during a weekday during business hours, although that’s probably just a superstition of mine. I just sit down and apply one-by-one in an orderly fashion, although some people like to hit “submit” simultaneously as they think it helps (again, possibly just superstition).
In any case, I am going for a total of 100,000 American Express Membership Rewards points on a personal and a business Gold card, as well as the Blue Cash Preferred that has a $150 cash bonus plus gives me 6% back on supermarkets all year long (up to $6,000 per year). As always, read the terms and save a PDF copy of each application page; the Gold cards have annual fees with first-year waived, and the Blue Cash Preferred has a $75 annual fee. Please use any credit responsibly, I never carry a balance and never pay interest as it is hazardous to my financial health.
“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”
Posted in Credit Cards, Deals & Offers | 22 Comments »
Sunday, January 6th, 2013
For 2013, scrappy little Discover is trying something bold. They’ve chucked everything and started fresh with only one card – the new Discover it® Card. (Yes, lowercase, don’t ask me why.) No longer promoted are the Discover More, Motiva, Open Road, Escape, and Miles cards. You may have noticed a lot of commercials about it recently, claiming it to be a “Game Changer”.
After a closer look, the new card is a definite improvement over the old products, with many positive changes in direct response to the competition. Here are the highlights:
- 5% cash back on rotating categories. My favorite feature. As with the Discover More card, you’ll get 5% cash back from select categories each quarter. From April to June 2013, you’ll get 5% cashback at all Home Improvement Stores on up to $1,500 in purchases.
- 1% flat cashback on all other purchases. Previous cash back cards had an initial tier that only gave you 0.25% cash back on the first $3,000 in purchases, and then 1% after that. They’ve finally matched competitors and went for 1% flat.
- Late payment forgiveness. There is no late fee for your first late payment, and your APR won’t automatically increase either. You can also pay-by-phone for free, up to midnight Eastern on your due date. We all make mistakes, so this is a nice addition.
- Direct-to-human, 100% US-based Cashback Concierge who guides a free, personalized online tour to help you get the most rewards for how you use your card. Instead of an intentionally-complicated robot phone tree, you can now select at any time to go straight to a human. I’m a little bummed that this has to be touted as a feature, but sadly it is…
- No annual fee, no fee for going over your limit.
- 0% Intro APR on both purchases and balance transfers for 14 months. 14 months is pretty long for purchases. Intro offer has a 3% balance transfer fee with no minimum.
- No foreign transaction fee. Okay, but I wouldn’t take a Discover internationally anyway. Discover acceptance is good inside the US, but much worse outside.
- Silly things. Things that shouldn’t matter, but still might. The card arrives via UPS/FedEx mail in a sleek-looking box. The card front is made to look like brushed stainless steel with no raised embossing – your name and card number are only on the back. I wonder where they got that idea?
Is it really a game-changer? Well, no. It’s not quite “one card to rule them all”, but it does combine the good bits from several other popular cards (Chase Sapphire, Chase Freedom, Citi Simplicity) to create a competitive offering. I like the 5% categories that are usually different from my Citi Dividend and Chase Freedom.
Discover is still the underdog to American Express/Visa/Mastercard, but it has its own perks. There are bonuses above cash back value for gift card redemptions. For example, you can regularly redeem $40 in cashback rewards for a $50 gift card to Wal-mart or Sam’s Club, that’s 25% extra that you can use even on the 5% back earnings. (Hint: If only Sam’s Club is available, you can use a Sam’s Club gift card at Wal-mart.) Their ShopDiscover cashback portal also often has the highest percentages for online shopping merchants, like 10% at Sears, better than eBates and such. Finally, Discover card has a lot of consumer features like return protection and an extended warranty that extends the manufacturer’s warranty for up to an extra year.
Basically, this Discover card is certainly a worthwhile addition to your wallet, just don’t make it the only card in your wallet. 
Existing cardholders. I have not gotten any communication from Discover that my existing cards will be converted to an “it” card in the near future, let me know in the comments if you have. I’m assuming that we’ll eventually get switched over at some point, hopefully soon because it (pun intended) seems to be better.
Update: Readers report that if you call them up, they will convert you to the new card manually (it will not happen automatically). You get to keep your same card number and thus credit history. Certain people with annual fee miles-type cards may prefer to stay, but again I think this card is definitely better than the plain Discover and Discover More cards.
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