Miles by Discover Card Promotion: Up to 20,000 Bonus Miles

Here’s a promo that would work great together with the the ChargeSmart fee waiver for utilities purchases. The Miles by Discover Card has upped their sign-up bonus so that you can get 10,000 Bonus Miles with every $2,000 in purchases within the first 6 months – up to 20,000 Bonus Miles. To confirm, look for the following in the Terms & Conditions on the application:

TERMS OF 20,000 BONUS MILES OFFER: Earn 10,000 Bonus Miles for every $2,000 you spend, up to 20,000 Bonus Miles. Purchases must be made within 6 months from the date your account is opened. We are not responsible for merchant delays in processing transactions. This promotional offer is in addition to the Standard Miles earned on purchases. Promotional Miles will be applied within 8 weeks of reaching $2,000 and $4,000 spend amounts.

The $2000 spending requirement over six months works out to $333 per month. What you’d be looking for is $350 per month in utilities (electric, gas, sewer, water) that previously didn’t accept credit cards for payment (at least without a big fee), which now you can pay Discover via ChargeSmart.com with no fees. If you don’t reach that, I would even prepay some utilities and let it apply to future bills. There is also double miles (2 miles/$ spent) on the first $3,000 spent combined on restaurant and travel purchases. If you can charge $4,000 in 6 months, you’d get the max 20,000 bonus miles.

In addition to the bonus miles, you’ll still get the standard 1 mile per $1 spent on the utilities charges. 10,000 miles can be redeemed for $100 towards any travel from any vendor. You just have to put a travel purchase (airfare, hotel, car rental) on the card and then go online and redeem your “miles” for a travel credit. So buy any $150 airfare from any website on the Miles card and redeem 10,000 miles for a $100 statement credit.

No annual fee. Rewards do not expire as long as your account is in good standing and the card is not inactive for 18 consecutive months.

Miles by Discover Card application link

Posted in Credit Cards, Deals & Offers | 5 Comments »

Groupon Class Action Settlement: Use Your Expired Groupons

Update: There is now an official website at grouponvouchersettlement.com. The court hasn’t approved an official settlement breakdown yet, the claim form is available to submit by e-mail.

What, Groupon already has a class action settlement? Yup. Bloomberg reports that Groupon has agreed to pay $8.5 million to settle a class-action lawsuit alleging the expiration dates on its coupons are illegal. Part of the lawsuit alleged that Groupon should be treated like gift cards, which in many states are not allowed to expire. However, like with most settlements, Groupon denies that and doesn’t admit any fault, yada, yada.
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CIT Bank CDs With Rising Rate Protection (Rate Hike Update)

Update: CIT Bank actually raised its rates on some of their CDs with a raise-your-rate feature. Rates updated in review below.

As a follow-up to my cash reserves post, I wanted to note that CIT Bank also has some very competitive rates on FDIC-insured CDs with added flexibility that makes them unique. They have a very simple website and appear to be focused on certificates of deposit, although they recently debuted a savings account with a 1.05% APY interest rate on balances above 25k.

Their Achiever CD has a current rate of 1.10% APY for 1-year term and 1.25% APY for the 2-year term with a $25,000 minimum opening deposit. The first unique feature is a “rate bump” option that allows to you raise your rate again in the future if the rate increases. The second unique feature is that you can add more money to your CD one time at any point you choose throughout the term.

You buy CDs to guarantee your rate won’t drop during the term. But these two features allow you added protection from rising rates in the future, and you already start with a competitive rate. You could match future rates, and move your other money over to match those rates as well. The primary limitation would be the higher minimum deposit requirement. Interest is compounded daily.

If you don’t have the $25,000 minimum, they also have their term CDs with a $1,000 minimum opening deposit. Those are paying 1.06% APY for 1-year term, 1.20% APY for 2-year, and 1.42% APY for 3-year. Those are nearly as good as the Achiever CD, but they don’t have the rate-bump and add-on features of the Achiever CD. The early withdrawal penalty is 3 months of interest for the 1-year CD, 6 months interest for the 2-year CD. A quick comparison table:

Posted in Banking, Deals & Offers | 12 Comments »

British Airways Credit Card – New 100,000 Mile Bonus & Redemption Tips

Update: Promo came back for 2012, but it’s also ending again. Must apply before June 7th. You can also apply for the Chase Sapphire Preferred card which offers 40,000 bonus points which convert to 40,000 British Airways miles. Please read on for details.

Here’s a resurrection of a great credit card offer that I took advantage of previously for those interested in some free travel. The Chase British Airways Visa Signature card is offering up to 100,000 British Airways (BA) Avois points for new cardmembers, broken down as following:

• 50,000 BA Avios points with first purchase of any amount,
• 25,000 BA Avios points after $10,000 in purchases within the first year of account opening, and
• 25,000 BA Avios points after an additional $10,000 in purchases, also within the first year of account opening

The card does have an annual fee of $95, which is not waived the first year. The card always earns 1.25 BA Avios points per dollar spent on all purchases (double that on British Airways purchases). Another perk is no foreign transaction fees, handy when traveling and saving you up to 3% off everything compared to cards that have the fee. It also has smart chip ID verification technology that is popular in Europe.

I took advantage of the last time this deal was around, and ended up flying around Europe completely in business class with fully lie-flat seats across the Atlantic Ocean. The 50k tier is best for spenders that can’t generate enough in purchases, but if you can spend $20k in a year, you’d end up with the 100,000 bonus points + 25,000 points from $20k in spending. What can you do with all those points?

Note: Avios points now have distance-based rewards. Recently, the official terminology changed from “miles” to “Avios points”. The reward chart is now based on how far you want to travel in terms of miles.

Redeem Avios points domestically on partner American Airlines. It’s usually much better to redeem points on their US partner American Airlines. For example, I can get from Los Angeles to Honolulu, Hawaii using only 25,000 Avios points roundtrip. I ran a quote in Fall and it cost $659 broken down to $621 fare and only $38 in taxes. So in this case you could save $621 in exchange for 25,000 points, which is 2.5 cents per point.

Shorter-distance flights can be a good deal as well. Roundtrip from Chicago to New York City is only 15,000 Avios points + about $30 in taxes.

Finding partner awards on BA.com was a huge headache for me. I recommend calling them at 1-800-452-1201 and paying the phone booking fee. It was worth it for me to find the exact flight I wanted, and in my case they even waived it for me since she said “you’d never be able to find this online” (which was true, but your mileage may vary). For research purposes, you can use AA.com and look for “Saver” awards which is what is available for redemption using BA points. But I still like booking over the phone and trying to get the fee waived since it can be impossible to do many partner awards online.

Redeem Avios points for business class to Europe. Since business class is so expensive, but the flight across the Atlantic is so long, redeeming points for business class tickets can be a good value as well. The taxes are still there, but they are a much smaller proportion and your trip will be so much more comfortable and truly an experience.

A roundtrip business class flight quote from New York City to London was $3,640, with $2,540 in fare and $1,100 in taxes. I could book the same award ticket for 80,000 Avios points plus $1,100 in taxes. Now we’re talking 3.2 cents per point.
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Free Meal Planning Service Membership – Food on the Table

Food on the Table is a meal planning service that tries to link the foods on sale at your local grocery store with recipe ideas to help you plan your shopping and cooking. They have a free trial, but right now if you sign up with promo code MAYFREE you’ll get their “premium” service free for life. There is a free iPhone/Android companion app so you’ll have a shopping list while you’re in the store. The main complaint seems to be that some stores aren’t covered, but my local Safeway store was. The site seems like a work in progress, but it’s an interesting idea.

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Simplisafe Alarm Review: Cheap, Effective DIY Home Security

Old security system vs. New security system

I’ve never had a security system until now, other than our dogs which are all bark and no bite. I suppose the main reason for that is that I didn’t own enough property to be worth protecting. Burglars could take everything and it would perhaps fetch $600 total on Craigslist, which is less than what a year of ADT monitoring fees might cost.

Combine the baby nesting instinct with a rash of recent break-ins in our quiet neighborhood, and my mindset has changed. I wanted a home security system, but I didn’t want to pay $60 or even $30 a month for monitoring. The monthly bill is where companies make most of their profit. $60 a month = $720 a year = $7,200 over a decade.

After some research, we settled on a company called Simplisafe. Here’s a list of reasons why we chose it:

• Wireless. Simplisafe uses GSM cellular technology, which means you don’t need a landline (which can also easily be cut by a criminal). Wireless monitoring was a requirement for me, and usually costs extra with other brands.
• Affordable up-front cost. The total cost of equipment was about $400 to completely cover my 2,000 sq. ft. house. You could probably cover an apartment or condo for $200-$300.
• DIY Installation. You order it, and install it yourself using the included 3M sticky tape. No drilling holes. Installation literally took less than half an hour. (Their YouTube video has it done in one minute.) If I moved, I just remove the sensors and buy some new sticky pads for $10.
• Affordable monitoring fee with no contract. Again, the monthly fee is where your cost over time adds up, and you’re usually stuck in a 2 or 3-year contract. Simplisafe 24/7 monitoring is only $15 a month with no contract. You can add instant text message alerts for an optional $5 a month. That’s is pretty much as cheap as UL-listed monitoring will cost. If you prefer, you don’t have to buy monitoring at all and you’ll just have a loud audible alarm (you can also buy extra sirens) which may be adequate for condos and apartments.
• Battery-powered. The base station has a rechargeable battery that will last up to 8 hours in a power outage. All the rest of the sensors use their own individual lithium battery. This means the entire system will work in a power outage or if the power is cut on purpose.
• Expandable. Everything is a la carte on the website, so you buy just as many sensors as you need. They recommend a contact sensor for each entry into the house, and motion sensors to cover important areas.
• UL-listed 24/7 Monitoring. On a cheap system, I imagined the monitoring system to be two minimum-wage employees taking turns in an apartment. But Simplisafe is certified by United Laboratories just like ADT and commercial fire alarm systems. Central station monitoring is provided by AMCEST Corporation (UL #S2299). This may also make you eligible for a discount on your homeowners or renters insurance.

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Posted in Deals & Offers, Frugal Living | 29 Comments »

Blue Cash Preferred from American Express Review: $150 Bonus + 6% Back on Groceries

(Updated with Amazon confirmation info.) The Blue Cash Preferred from American Express Card offers a whopping

• 6% cash back on purchases at supermarkets
• 3% cash back on gas and department store purchases
• and 1% cash back on everything else.
• 6% back on Amazon gift certificates bought via supermarkets. Finally, don’t forget that you can buy a lot of nice gift cards at popular stores at supermarkets – I’ve seen Home Depot, Best Buy, Macy’s, Sears, and various gas stations and even Amazon.com. (Update: Confirmed to work for Amazon gift cards bought at Safeway stores. I bought it in along with other grocery purchases.)

In addition, there is now a $150 welcome bonus for new cardholders when you spend $1,000 or more within your first 3 months. The card has a $75 annual fee, but keep in mind that spending $25 a week on groceries, that 6% back will earn enough cash ($78) to pay for the annual fee by itself. The Blue Cash Preferred also has 0% APR interest on purchases for 12 months.

The regular Blue Cash Everyday from American Express gives you $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months, pays 3% cash back on purchases at supermarkets, 2% cash back on gas and department store purchases, and 1% cash back on everything else and has no annual fee.

If you spend less than a combination of $175 per month on groceries and $100 on gas per month, then the Blue Cash Everyday would give you more money back overall. Otherwise, the Preferred above works out better. Both cards offer the simplicity of cash back on the major “need” categories of groceries and gas, great for those that don’t like dealing with rotating categories or don’t travel very much.

If you get some sort of application error, you should try clearing your cookies or using the Private Browsing or Incognito option in your web browser. This worked for me to see the application page.

Blue Cash Preferred from American Express Card application link

Posted in Credit Cards, Deals & Offers | 29 Comments »

SunTrust Bank & Delta Check Card – 30,000 Bonus Miles Promotion

SunTrust Bank is offering 30,000 Delta Skymiles for opening a new checking account by 6/30 with qualifying direct deposit and choosing the Delta SkyMiles World Check Card. Available in AL, AR, FL, GA, MD, MS, NC, SC, TN, WV, VA and Washington, D.C. The debit card does have a $75 annual fee but do you get 1 mile per $1 spent (for those that avoid credit cards). However, you don’t get the free checked bags or Priority Boarding of the Delta American Express credit card.

Still it’s not a bad deal, $75 for 30k miles if you live near a SunTrust branch. Some of the text suggests that you can get 15k of those miles with just the new checking account and no debit card, but it’s not entirely clear. Direct deposit must be $100 or more. The “Balanced Banking” checking account option has a $12 monthly fee, waived with a $3,000 minimum balance across Suntrust accounts. Selected fine print below:

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Obihai + Google Voice = Free VoIP Phone Until End of 2012

Update 5/2/12: Obihai is offering free refurbished units to members of the United States Armed Forces (Army, Navy, Marine Corps, Air Force & Coast Guard) that are stationed outside of the US, while supplies last. A nice gesture. More information here. Other than that, overall these boxes continue to have great reviews online.

Are you still looking for a home phone solution that’s cheaper than a landline? A new startup called Obihai has started making ATA VoIP boxes that are actually easy to set up. You buy their box, add in Google Voice (GV) service, plug in a normal landline phone, and it will use GV to make and receive phone calls. No computer required.

Now, Google Voice/Gmail has promised free long distance within the US and Canada for the rest of 2011 2012. Past that, it’s unknown so I wouldn’t want to commit too much money upfront, even though the box is compatible with other VoIP providers.

They also offer number porting from cell phones now for $20. If you have a landline phone number you wish to port over, you’ll have to port it over to a cell phone first, and then port it over to GV. (Don’t ask me why.)

Available at Amazon, the OBi100 model is currently $43.99 with free shipping, and all you need to get yourself set up. They also have a slightly more expensive OBi110 model that allows you to bridge a traditional POTS landline with your new VoIP gadgetry, which I figure most people won’t need if the point is to save money by ditching your landline in the first place.

Posted in Deals & Offers, Frugal Living | 10 Comments »

Earn 750 United MileagePlus Miles For Joining MyPoints.

Just received this e-mail, does not appear to be targeted. Earn 750 bonus MileagePlus miles when you sign up for MyPoints at their link and keep your membership active for 30 days.

MyPoints is a program where you get points for reading marketing e-mails, taking surveys, and they are also a shopping portal like eBates. I used to use them but haven’t for a few years as the points have gotten even more devalued to the point that I don’t bother accumulating them.

But 750 United miles is worth taking 2 minutes to sign up with a temporary anti-spam e-mail address and forgetting about it. 750 miles is 3% of a 25k roundtrip award.

Posted in Deals & Offers | 7 Comments »

Amazon Instant Video Free $3 Credit with Twitter Link

Amazon is giving away a $3 credit towards Amazon Instant Video purchases if you connect your Amazon and Twitter accounts. Amazon will make you follow them @amazonvideo and tweet a message about the promo. It kind of worried me giving so much control over to Amazon, but you can always remove the link afterwards. Must tweet by May 1st, use credit by May 31st.

While you’re at it, follow @mymoneyblog as well. I do share links and smaller deals on Twitter that you won’t see on the blog. Tweets are re-syndicated on my Facebook page as well.

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Chase Ink Bold Review: Business Card Bonus Worth $500 Cash, $625 in Airfare

(Update 4/22: This offer has been changed to split up the sign-up bonus to 25,000 points after first purchase on any amount, and another 25,000 points after a spending requirement of $10,000 within 3 months. 50k points is still worth $500 cash or $625 towards airfare. The annual fee is still waived the first year, and there is still 5x points per dollar on the first $50,000 spent annually at office supply stores and on cell phone, landline, internet, and cable tv service.)

This card is essentially the small business version of the Chase Sapphire Preferred(SM) Card, a consumer card which offers 40,000 Ultimate Rewards points = $400 cash = $500 in airfare.)

Here’s another bonus worth $500+ for all you freelancers and small business owners out there (even if you don’t even know it). The Chase Ink Bold with Ultimate Rewards is offering up to 50,000 bonus points - 25,000 points after your first purchase and another 25,000 points after spending $10,000 in the first 3 months your account is open.

50,000 points is worth $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. The flight prices are the same as quoted on Expedia, Travelocity, etc.

If you prefer, you can also transfer points to British Airways Avois miles, Continental/United Airlines miles, Hyatt hotel points, Marriott hotel points, and Amtrak. 1 Chase point = 1 mile/hotel point for these transfers, so that’s 50,000 miles. There is no annual fee for the first year, $95 after that. You also get a free membership in Lounge Club, which gets you 2 complimentary visits to participating “first class” airport lounges each year and discounted rates on future visits. After you get the Ink card, register at loungeclub.com/inkcard.

It looks like Chase is getting serious about competing with American Express Business Gold/Platinum cards. Along those lines, the Chase Ink Bold card is a business charge card where you must pay in full each month after a 30-day grace period with no interest.

You’ll also earn up to 5 points per $1 spent on the first $50,000 spent annually on eligible business purchases:

• Earn a total of 2 points for each $1 of airfare and hotel net purchases made online through the Chase booking tool.
• Earn a total of 2 points for each $1 of net purchases made at merchants that classify themselves the following categories: gas stations and hotels stays booked directly with the hotel.
• Earn a total of 5 points for each $1 of net purchases made at merchants that classify themselves the following categories: wireless/telecommunications services (excluding equipment such as phones and fax machines), cable and satellite television services, office supply stores and wholesale distributors of office supplies.
• All other purchases will earn 1 point for each $1 of net purchases.

Business Credit Card Eligibility

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. Why? Because any individual can be a business as well. The business type is called a sole proprietorship. Perhaps you sell items on eBay, Craiglist, or Etsy. Maybe you do some freelancing and/or consulting. You might have gotten a 1099 tax form and filled out a Schedule C. Boom! 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.

In addition, the card itself is a business card so it won’t show up on your personal credit report. Now, 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, it won’t affect your credit score otherwise, since it doesn’t change things like your credit limits, average account age, or credit utilization ratio. (I’ve gotten reports that Capital One business cards do report on your personal report now for some reason, but not Chase business cards.)

Compare with the other $500+ Bonus credit card promotions currently available.

Posted in Credit Cards, Deals & Offers | 32 Comments »