Qapital App Review: Rules-Based Automated Savings Account – Free $5 to Start

Posted on May 15, 2016 // 2 Comments

qapital0Before we let them take over the world, computers must first prove their worth by helping us become better savers and investors. Importantly, we humans have a horrible tendency to put off saving when we have to manually do it each and every time.

Fintech start-up Qapital intends to fix this by automatically setting aside money based on a customized selection of rules. At it’s core is a free, FDIC-insured savings account held at Wells Fargo with no minimum balance or monthly fees. They are also giving out five bucks to start (details below).

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Here are the current rules available:

  • Round-up Rule: Round up your purchases and save the difference every time you buy something. Ex. You can round to the nearest $1, $2, $3, $4, or $5.
  • Spend Less Rule: If you spend less than your target budget amount, then save the difference. Ex. Spend less than $15 at Starbucks during a week, then save the difference towards a goal.
  • Guilty Pleasure Rule: If you buy something you’re trying to resist, Qapital will automatically save some money for you. Ex. Save $10 every time you make a purchase at McDonald’s.
  • Set & Forget Rule: A traditional rule where you save a fixed amount daily, weekly, or once a month. Ex. Save $50 every week.
  • Apple Health Rule: If you hit your fitness target, Qapital will save towards your goal. Ex. Save $50 towards vacation goal every time you take 500 steps.
  • IFTTT Rules: Use the IFTTT service to trigger a money transfer.
  • Freelancer Rule: Every time you receive a large deposit, save 30% of it towards taxes.
  • 52 Week Rule: Save $1 the first week, $2 the second week, and so on for 52 weeks. (This adds up to $1,378 by the way!)

You must be 18 years old and link up an existing US-based checking account as the funding source. Trial deposits are used for verification using account and routing numbers. To prevent a million little transactions, withdrawals from your checking account to your Qapital account are only done twice a week. You can make move money back into your checking account at any time.

You can also add a credit card such as Citi, Chase, or American Express to trigger the rules, although you can’t use it as a funding source.

If Qapital is free, then how do they make money? They don’t charge any fees directly. They make money by keeping any interest that might be earned on your savings balance. Given that the top savings accounts pay roughly 1% APY, that means for every $100 in the account you’re losing out on $1 a year. They promise not to sell your transaction data.

Get $5 free to start. Right now, Qapital has a refer-a-friend promotion where a new user can get $5 if they are referred by a current user and open a new Qapital account with a least one deposit. Here is my special $5 referral link. Thanks if you use it!

Recap. Qapital is another iteration of “let me save for you” concept, previously seen in the “Keep the Change” program from Bank of America and the “round up to the nearest dollar” system from the Acorns app. Qapital differs in that they offer a wider variety of rule-based triggers, they are free while working with any credit card, and your only option is an FDIC-insured savings account (no stock investing). Overall it is a nice execution, although I predict that this idea will become more common across many different financial institutions over time (i.e. other people gonna copy it).

Setup is relatively easy and the user interface is good; I’ve set up a few rules for myself. I like that you can round up purchases into a simple savings account instead of the tax complexity of buying tiny bits of ETFs. There is no phone number, but there is in-app chat and e-mail support. My question was answered within an hour during their business hours. The app has worked fine so far while rounding up my purchases, but I’ll be interested to see if it keeps my attention several months from now.

More screenshots:

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Next up: Digit.

Filed Under: Budgeting, Deals & Offers //

Sam’s Club Mom’s and Dad’s Club – Free $10 eGift Card

Posted on May 11, 2016 // 3 Comments

sams10gcSam’s Club has a new Mom’s and Dad’s Club and is giving out free $10 eGift cards to join. Looks like you’ll get special offers and free samples targeted for families and children. Fast sign-up, eGift card must be used online. You must use the same e-mail address as registered on SamsClub.com. The fine print wording suggests that the offer may be targeted, but it seems worth a shot if you are a Sam’s Club member and have an e-mail on file already. Hat tip to shikha_sharma of SD.

Enroll in Sam’s Club® Mom’s and Dad’s Club with a valid email address matching the email address registered on SamsClub.com by May 15 to receive a $10 eGift Card. eGift Card will be provided by email between May 15 and June 15 to the email address used to register your Sam’s Club Membership on SamsClub.com matching Mom’s and Dad’s Club registration. Offer only available to the Sam’s Club Member associated with the original email address for this advertisement. Only one eGift Card per membership. eGift Card may not be used to pay for membership fee, travel purchases, or select services. eGift Card can only be used online at SamsClub.com. Offer not valid in Puerto Rico.

Filed Under: Deals & Offers //

Raise App: Buy Discounted Gift Cards, $10 off $100 Coupon Code

Posted on May 11, 2016 // 16 Comments

Updated with $5 new user bonus, limited-time $10 off $100 coupon code. Raise has a new promo code APP10 that takes an additional $10 off $100 minimum if you use their app (links below). Valid for existing users. Now only valid for new users. Expires 5/16/16.

To redeem, open the Raise app and apply code APP10 in promo box at checkout. Exclusions: $100 order minimum. Can only be used on the Raise app. Cannot be combined with any additional offers. Limit one time use within date of promotion. One redemption per household. Offer expires on 05/16/2016 11:59 PM CST.

For new users, Raise has a referral program that offers you $5 to start. Here is my $5 referral link. Thanks if you use it! Here’s the generic text:

Join me on the upside at Raise, where your money is worth more. Here’s $5 to get started! http://geta.raise.com/jping1

Lots of the good gift cards just over $100 are going fast, but new ones are also arriving. I probably could have done better with some patience, but I snagged a CVS gift card at 17% off face value for an upcoming purchase.

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Original post:

raiseapp2I prefer shopping tips that let you save money on stuff you’d already buy anyway. Raise.com lets you buy and sell gift cards online, and according to them they are the largest online marketplace for gift cards (plus they’ve raised $25M in venture capital).

Raise now has both an iOS app and Android app. You an tell they put some thought into it with little things like scanning your credit card number via smartphone camera and storing all your past gift cards in their “wallet”.

This app makes it even easier to buy a discounted gift card after you’ve already decided what to buy and are on the way to the register. Store your credit card info ahead of time, buy a discounted card for 5% to 10% off, and use up the gift card a minute later. Why wait for shipping? Definitely worth keeping on your phone, if only for big $100+ purchases. Always check the gift card to make sure it will be delivered electronically. The fine print states that eGift cards will be delivered “within 1 hour” but they’ve always arrived within a minute for me. Even their press release states “A user standing in line for coffee, for instance, could quickly find and buy a corresponding gift card and redeem it at the store counter, pocketing instant savings.”

Raise also guarantees that the gift card you purchase will have the correct value upon redemption. The only “catch” is that you must tell them within 60 days of purchase. I wouldn’t recommend waiting nearly that long with any used gift card, as at least one other person has the code.

Final tip – Inventory is constantly changing with this app, gift cards can disappear even though you’ve already added them to your cart!

Filed Under: Deals & Offers //

American Airlines Promo: Quick, Free 700 Miles

Posted on May 5, 2016 // 2 Comments

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In celebration of the 35th anniversary of the American Airlines AAdvantage® program, they are running a Miles for Milestones promotion.

  • To get the first 350 miles and enter the 350,000 mile sweepstakes, you just need your name, e-mail, and AAdvantage account number.
  • To get the second 350 miles, you’ll have to share something on your Facebook page, Twitter account, or e-mail them directly.

Screenshot:

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Between my wife and I, we tried the e-mail option and the Twitter option. After sending the e-mail, we got an auto-reply but no direct confirmation of qualification for the bonus miles. After sending the tweet, we got an instant Twitter reply with a link to verify the tweet. The Twitter option felt more concrete and satisfying, but the e-mail option is more private.

This will extend the life of your miles, as AA miles currently expire after 18 months of inactivity. Keep in mind the terms state it may take up to 8 weeks for your bonus miles to post. Ideally, 700 miles for each family member in under 5 minutes.

Filed Under: Deals & Offers //

Navy Federal Credit Union Military Appreciation Month Promotions 2016

Posted on May 4, 2016 // 4 Comments

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navyfedlogoNavy Federal Credit Union has solid bank and loan products, including checking accounts with ATM rebates, competitive mortgage rates, and limited-time 0% balance transfer promotions. Readers have commented on their excellent customer service and the fact that they often keep and service the mortgages and other loans they originate.

Membership eligibility for NavyFed is primarily restricted to Marine Corps, Navy, Air Force, and Coast Guard regular Active Duty and reservists, and Army and Air National Guard personnel, but also includes family and household members of existing NavyFed members and some civilian employees in the Department of Defense.

If you’ve been waiting to sign-up, the special offers available during Military Appreciation Month may help you get yourself motivated (some offers are restricted to active military):

  • Get $50 When You Give Membership. Refer armed forces personnel, DoD civilians and contractors, and their dependents, and you’ll each get $50.
  • Get $50 with Active Duty Checking. Open an Active Duty Checking account with a qualifying Military Direct Deposit and get $50.
  • Get a Special Promotional-Rate CD. Open a 15-month Military Appreciation Certificate with a 3.00% APY and start growing your savings. Receive an additional $10 incentive when you set up a recurring transfer.
  • Get $200 for Auto Loan Refinance. Military members: Refinance your loan from another lender and get $200. Active Duty and retired military members save an additional 1/4% APR on selected loans with Direct Deposit.
  • Get $200 with a CashRewards Credit Card. Open a new cashRewards credit card and get $200 cash back after spending $2,000 within the first 90 days of account opening.

Offers valid between 5/1/2016 and 5/31/2016 and can expire anytime without prior notice. Thanks (again) to reader Charles for the tip.

Filed Under: Deals & Offers //

Santander Bank extra20 Checking: Ending July 1st for Existing Customers

Posted on April 28, 2016 // 44 Comments

Update April 2016. I originally wrote about this promotion in October 2013, and many readers have been getting $20 of interest every month on a relatively low balance (worked out to 16% APY on $1,500 average balance). With a 1% APY savings account, you’d need $24,000 to get the same amount of interest! Unfortunately, Santander Bank recently announced that this promotion will end and accounts will be converted to a Simply Right checking account later this year (reports include either July 1st or December 1st, 2016).

I would note that this deal lasted for over 2.5 years, longer than I thought it would. Just like with 5% APY Netspend prepaid cards, you can’t really predict how long deals will last. Some end earlier than you think, some end later. Don’t forget to close your account in July, unless you’ve gotten attached to your Santander account (which was always the idea!).

Original post from October 2013 (deal is no longer available):

[Read more…]

Filed Under: Banking, Deals & Offers //

RealtyShares Sign-Up Bonus Promo Code

Posted on April 19, 2016 // 23 Comments

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Update. RealtyShares has a referral program that offers a new customer who is referred by an existing client a $100 gift card after linking a bank account. I am no longer available to provide referrals as I have maxed out the limit, but you may be able to find a referral from existing client elsewhere.

Alternatively, using this link and using the code JONATHANPING25 will get you a free $25 to start.

Be sure to follow the terms and conditions and reply to your bank link confirmation e-mail with the proper promo code:

In order to receive $25 sign up bonus, user must register, connect a bank account, and use the promocode provided in the email they received about the program. Payouts to user will be within 30 days via your linked bank account. RealtyShares reserves the right to stop or modify the referral program at its discretion at any time.

Filed Under: Deals & Offers, Real Estate //

Bill Fixers: Let Someone Else Haggle Your Cable and Phone Bills For You

Posted on April 5, 2016 // 19 Comments

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Successful haggle update, April 2016. Shortly after the NY Times profile of Bill Fixers came out, I submitted a request for them to help me lower my Time Warner cable bill. I had haggled with Time Warner in the recent past, but was currently back on regular pricing, so I figured I’d give them a shot. It took them about two months to get around to my request due to the flood of interest they got after the NYT article, but here were my real-world results:

  • $263.52 reduction of bills over the next 12 months, verified.
  • They gave me a 20% discount on their fee (half of first year savings) due to the delay, so I owed them $105.41.
  • One of the discounts they haggled for me ran for 24 months, which added up to another $83.26 in savings on which I owed no fee since they only charge for the first 12 months.
  • My total net savings: $241.37

The only work I did was to scan and upload a copy of my cable bill, and provide a personal security question and answer (not sure if it was right, or if they had to use it). I understand that some people may not feel comfortable with this, but I did not have to supply my bank account number, credit card information, Social Security number, or birthdate for this situation.

Original post:

I’ve written about haggling your cable or satellite TV bill for years, with hundreds of comments sharing both success and failures. I’ve certainly negotiated with a healthy share of customer service reps myself. But I don’t like doing it. I do it because unlike say the electrical company, who tells me “you pay based on how much power you use”, the cable company tells me “if you bother us, we’ll give you a discount, but if you are nice and quiet, you’ll pay double”. Big Data is tracking whether you compare prices or not, so it is in my best interest to announce that YES I COMPARE PRICES!

But what if you could just pay someone else to haggle for you? Deal with the long hold times, the “accidental” hang-ups, and the multiple transfers between supervisors? Enter brothers Julian and Ben Kurland of BillFixers.com, who will do just that. I came across them in this Businessweek article:

Despite all the various life-hacking sites that will teach you how to reduce your cable bill, a recent Consumer Reports survey found that fewer than half of people who attempted to do so were effective. Services such as BillCutterz have been offering some relief, but the Kurlands say their success rate—94 percent—is higher. It usually works out because they’re annoyingly persistent. Calls can last several hours as the brothers are passed among operators, managers, and various departments. The Kurlands often call companies multiple times, looking for different representatives who will cut a deal. “You’ll talk to three people who won’t offer anything, and the fourth one will magically have a discount that no one mentioned,” Ben says.

Which companies will they negotiate with? According to their website, they’ll take a shot at any recurring monthly bill you have. They don’t do things like credit cards and medical bills.

  • Television (Cable, Satellite, IP TV)
  • Internet (Cable, DSL, Other)
  • Landline
  • Cellular (AT&T cellular bills are one of the “easiest”. T-Mobile is one of the hardest.)
  • Satellite Radio

How much does BillFixers cost? They work on a contingency basis. If they don’t save you money, you pay nothing. If they do, they charge you 50% of the first year’s savings. You can pay via lump sum or in monthly payments (which in theory would match up with your monthly savings). Some stats from USA Today:

– Of the 650 clients, 94% receive savings
– The average reduction in bills is greater than $300 per customer
– About $155,000 has been saved for customers since 2014

I don’t doubt that someone with the right skills and motivation can be a good hired negotiator. I suppose the only concern would be giving out personal information like Social Security Number. However, if you give them the right information like account numbers, they shouldn’t need that kind of sensitive information.

If you’ve been thinking about haggling but have been putting it off due to either dislike or procrastination, why not give them a shot?

I’m going to add BillFixers to the growing list of services that will help find you money for free (but if they find it, they may take a cut).

  • CoPatient: Negotiate your medical bills. They take a cut of any successful savings.
  • AutoSlash: Helps you track price drops on rental cards. They make money when you rebook at a lower price with them.
  • Paribus: Helps you automatically request price adjustments on all your online retail purchases. They take a cut of the price drop savings.
  • AirHelp, Refund.Me, AirTaxBack: Get fees refunded for certain cancelled or missed flights to/from Europe. They take a cut of the refund.
Filed Under: Deals & Offers, Frugal Living //

Free FICO Score from Bank of America Credit Cards

Posted on March 30, 2016 // 6 Comments

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This post provides updated information and instructions regarding the free FICO score that is available to Bank of America credit card holders. (Thanks to reader Andy for the tip.)

Background. Bank of America started rolling out free FICO scores to select cardholders in late 2015, with a stated plan of increased rollout by the end of first quarter of 2016 (March 31st, 2016).

FICO Score details.

How to find the score. You can find the free FICO score on your online account access. The free FICO program is currently not available on mobile apps or the mobile website.

After logging into your BofA.com account, you must opt-in by first going to the “Tools & Investing” tab and clicking on “Learn about credit scores”. Then click on the “Enroll Now” button and accept the terms of the free FICO program.

Here are some screenshots from the website (click to enlarge):

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Here are screenshots of the actual score page (click to enlarge):

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Fine print:

You will be able to view up to a 12-month history of your FICO® Scores in Online Banking, starting when you enroll and for each month up to 12 months after enrollment. After 12 months the history display will re-start. Additionally, you will see two key factors affecting your most recent FICO® Score, except in limited circumstances where TransUnion does not provide us with both key factors. Customers with newly opened credit card accounts may not see their first FICO® Score in Online Banking for up to 60 days after enrollment. In certain circumstances, a FICO® Score may not be available from TransUnion for various reasons, e.g., having a limited credit history. If your Bank of America consumer credit card account(s) are closed by you or us, we reserve the right to end your participation in the FICO® Score Program. You can unenroll at any time by going to the Tools and Investing tab in Online Banking.

Here is additional information about other major credit card issuers with free FICO programs:

Filed Under: Credit Cards, Deals & Offers //

New JetBlue Card Review from Barclaycard

Posted on March 20, 2016 // Leave a Comment

JetBlue has announced two new consumer credit cards – the JetBlue Card (no annual fee) and the JetBlue Plus card ($99 annual fee). These are both issued by Barclaycard, as JetBlue recently ended its credit card relationship with American Express. Are they worth getting? Here’s my brief review of the card highlights and the value proposition breakdown.

Had the JetBlue Card from American Express? You do not need to apply again. Your AmEx card will automatically be replaced with the new JetBlue Rewards MasterCard, issued by Barclaycard, in late March 2016. The JetBlue Rewards MasterCard is slightly different that either card described below and is only available to grandfathered users. It has a $40 annual fee, but you can also request your card to be converted to one of the cards below.

Highlights of the new JetBlue card: (This offer is now EXPIRED)

  • 10,000 bonus points after spending $1,000 on purchases in the first 90 days
  • Earn 3 points per $1 spent on JetBlue purchases, 2 points per $1 at restaurants and grocery stores and 1 point per $1 on all other purchases
  • No blackout dates on JetBlue-operated flights & redeem for any seat, any time on JetBlue flights. Points required for an Award Flight will vary based on the published base fare at the time of booking
  • Points awarded in your TrueBlue account don’t expire
  • Earn and share points together with Family Pooling
  • 50% savings on eligible inflight purchases including cocktails, food and movies.
  • No foreign transaction fees.
  • Chip-card technology & $0 Fraud Liability protection

JBE_JB3_card_rCMY_Fee_BluePlus_WE_500x315Highlights of the new JetBlue Plus card:

  • Earn 30,000 bonus points after $1,000 in purchases in the first 90 days
  • Earn 6 points per $1 on JetBlue purchases, 2 points per $1 at restaurants and grocery stores and 1 point per $1 on all other purchases
  • No blackout dates on JetBlue-operated flights & redeem for any seat, any time on JetBlue flights. – Points required for an Award Flight will vary based on the published base fare at the time of booking.
  • Points awarded in your TrueBlue account don’t expire.
  • Earn and share points together with Family Pooling
  • Earn 5,000 bonus points every year after your account anniversary
  • 50% savings on eligible inflight purchases including cocktails, food and movies & your first checked bag is free on JetBlue-operated flights
  • Enjoy Mosaic benefits for one year after you spend $50,000 or more on purchases after your anniversary date
  • Get 10% of your points back every time you redeem to use toward your next redemption
  • Get a $100 statement credit after you purchase a JetBlue Getaways vacation package of $100 or more with your JetBlue Plus Card.

What are the TrueBlue points rewards worth? You earn JetBlue TrueBlue points on your purchases, which are best redeemed for JetBlue flights. There are some other options like newspaper or magazine subscriptions, but I won’t cover them here.

  • JetBlue TrueBlue works on a revenue-based system. You can book any flight without blackout dates, but the points required depends on the current cash cost of the flight. This is different than a chart-based system, for example might require 25,000 points for any flight within the 48 contiguous states (subject to blackout dates and availability).
  • A reasonable estimate of value is 1 points = 1.4 cents towards a Blue, Blue Plus, or Blue Flex fare. The exact value may vary, but that is the average that I found and the variance is low. Ex. 10,000 points would cover $140 in airfare. See calculation example below.
  • The value of a free checked bag is $15 to $25 one-way, per person. Depending on fare level, JetBlue now charges for checked bags. If you buy it separately on a base fare, a checked bag will cost $20 one-way upfront or $25 one-way at the ticket counter. If you buy the Blue Plus fare which includes one checked bag, that usually costs $15 more one-way. At $30 to $50 roundtrip, the value of the free checked bag feature can add up quickly if you travel as a family or group.
  • Families can share and pool points together, with no transfer fees.
  • TrueBlue points don’t expire.

Every 10,000 points can be redeemed for $140 in airfare. This means 2X points back on restaurants and groceries can be redeemed for 2.8% back in the form of TrueBlue airfare. The 3X points back on Jetlue-operated flights can be redeemed for 4.2% back in the form of TrueBlue airfare. The 6X points back with the Plus card on Jetlue-operated flights can be redeemed for 8.4% back in the form of TrueBlue airfare.

This is in addition to the existing 3X points for TrueBlue members buying Blue airfare, and the 3X points for anyone booking JetBlue flights online. If you have Mosaic elite status, you also get another 3X points.

Calculating the value of a JetBlue TrueBlue points. You can test for yourself quite easily. Here is a randomly chosen, roundtrip San Francisco (SFO) to New York City (JFK) flight. Screenshots are below. It would have either cost $423.30 in cash, or 29,400 points + $11.20 in taxes. The value of a point comes out almost exactly to 1.4 cents per point:

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Recap. The new JetBlue Card from Barclaycard can be a good value for regular customers of JetBlue and their free DirecTV. You get extra savings when purchasing JetBlue airfare on the card, and the rewards are free JetBlue airfare. The standard version offers a limited-time sign-up bonus as well as perks with no annual fee. The Plus version with $99 annual fee is best for frequent fliers who can take advantage of the free checked bag feature and also the 5,000 point anniversary bonus. However, if you don’t fly JetBlue enough to have the opportunity to either earn or spend the points, then you should just stick with a more general travel rewards card like the Chase Sapphire Preferred or a top cash back card like the Citi Double Cash.

Filed Under: Credit Cards, Deals & Offers, Reviews //

Redeeming Citi Prestige ThankYou Points For American Airlines Flights

Posted on March 10, 2016 // Leave a Comment

tyaa0It has been nearly a year since I picked up my Citi Prestige card (review), and I’ve done my best to take advantage of the available perks:

– $250 in Airfare credit for 2015
– $250 in Airfare credit for 2016
– $100 statement credit to offset my TSA PreCheck / Global Entry membership
– Free access to Business Class lounge at Vancouver International Airport via Priority Pass (2 adults, 2 children)
– Free access to Admiral Club lounge at Los Angeles Airport (2 adults, 2 children)
– I reserved a free round of golf ($210 value) at the Ko Olina Golf Course on Oahu, Hawaii via GolfSwitch. Here’s a picture of me at Ko Olina trying to avoid their water(fall) hazard.

You know I was going to get my value out of that $450 annual fee! If I travelled more, I could’ve gotten more usage out of the lounge access, but that’s all I could manage this year.

The final thing for me to do is to redeem my 50,000 ThankYou points (plus the points earned from making purchases on the card). As noted in my review, the easiest way to maximize value is by redeeming the points for any economy flight on American Airlines. (I’m sure you could come up with a higher value via conversion to Cathay Pacific or Singapore Airlines miles and getting business class tickets.) Every 10,000 points = $160 in American airfare, so 50,000 points = $800 in American airfare. (For other airlines besides American, the conversion is every 10,000 points = $133 in airfare.)

In order to get the 1.6x value, you need to book while you have an active Citi Prestige card. The flight itself can be scheduled far ahead of time. Otherwise, you can still keep the ThankYou points with another linked valid ThankYou card (no annual fee options available), but you won’t have the improved American Airlines redemption option.

How to redeem. You can either log into your Citi Prestige account at Citicards.com and then click on the ThankYou points link, or go directly to ThankYou.com. Once there, click on “Travel” and then “Flights” as shown in the screenshot:

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From there, it works like any other flight booking website like Expedia or Travelocity. Input your desired flight details, and it will show you options. The advantage here is flexibility, as there are no geographic limitations or blackout dates. Here are the results of a roundtrip flight during the summer from San Francisco to Honolulu for $571 or 35,687 points:

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Quick math confirms the 100 points:$1.60 value ratio.

Are the Citi ThankYou Travel Center prices the same as AA.com or Expedia? Yes, for every search that I’ve done. Here is a screenshot of American Airlines website for the exact same date and flight details as above, showing the same $571 cost:

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In fact, for another route the Citi Travel center actually showed an additional cheaper flight option with a stopover, while AA.com only showed the more expensive, direct flight.

What if you don’t have enough points to cover the entire flight? Use the Points + Cash option. Citi allows you to split the cost up. You can use up every ThankYou point available at the 100 points:$1.60 value ratio, and then pay cash for the remaining amount.

For example, let’s say the flight you want costs $200 and you only have 10,000 ThankYou points. With your Citi Prestige card, you can book the flight for 10,000 points ($160 value) and $40 cash. Any leftover cash amount can be charged on the Citi Prestige and thus be covered by the $250 annual airfare credit (it doesn’t have to be used up all at once either, and applies to any airline).

Filed Under: Credit Cards, Deals & Offers, Travel //

Starwood Preferred Guest American Express Review

Posted on March 4, 2016 // 90 Comments

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The travel rewards card that has been in my wallet the longest is the Starwood Preferred Guest® Credit Card from American Express. It is quite famous in the travel junkie circles, but not very well known otherwise. Once you understand the combination of flexibility and value, you will better understand why this is my favorite hotel rewards card and also the only annual fee card that I’ve kept consistently over the last 7+ years.

Highlights:

  • Earn 25,000 bonus Starpoints® after you use your new Card to make $3,000 in purchases within the first 3 months.
  • No Foreign Transaction Fees on international purchases.
  • Receive free in-room, premium internet access. Booking requirements apply.
  • Enjoy complimentary, unlimited Boingo Wi-Fi on up to four devices at more than 1,000,000 Boingo hotspots worldwide. Enrollment required.
  • Earn free nights at over 1,200 hotels and resorts in nearly 100 countries with no blackout dates.
  • Some hotels may have mandatory service and resort charges.
  • $0 introductory annual fee for the first year, then $95.

My review:

  • When redeeming towards hotel stays, I regularly get 2-6 cents of value per point, more than often the value you’d get from airline miles. Get free stays in hotels that otherwise charge $300+ a night.
  • Rather have miles? You can convert 20,000 points to 25,000 miles, which is 1.25 miles per dollar spent, 25% more miles than most other airline-specific cards.
  • Easy transfers mean you can “top off” a frequent flier account to get to that coveted reward ticket level. Your miles aren’t worth anything until you actually use them!
  • You can convert just a few miles to keep your other miles from expiring.

Either I’ve had one, or my wife has had one, or I’ve had the business card version of this card for the last 5+ years. Transferring points within between household members is quite easy and free.

Starwood Points transfer to Frequent Flier Miles

The first reason why this card is so useful is that Starwood points (or Starpoints) can be converted to miles to major domestic airlines and several international ones. This includes Alaska, American, Delta, Hawaiian, and United. Most transfer at a 1:1 ratio (1 Starwood point = 1 frequent flier mile), unless otherwise noted. For example, the ratio is lower for United (2:1 means 2 Starpoints = 1 United mile.

Imagine that you’re only a thousand miles short of a free ticket, but you need to buy a ticket and would really like to make it free. Although there may be other options that involve spending money, you can simply “top off” your balance by transferring as little as 1,500 miles to the specific airline programs that you want. You can even convert a specific number of points. Just need 2,854 miles here and 1,567 somewhere else? No problem.

With most airlines, your miles expire after a period of inactivity. But since any activity counts (not only flying), I could quickly transfer 1,500 miles over in order to save 20,000 hard-earned miles from expiring.

  • Aeromexico Club Premier
  • Aeroplan/Air Canada
  • Air Berlin
  • Air China Companion
  • Air New Zealand Air Points (65:1)
  • Alaska Airlines Mileage Plan
  • Alitalia MileMiglia
  • All Nippon Airways (ANA) Mileage Club
  • American Airlines AAdvantage
  • Asia Miles
  • Asiana Airlines
  • British Airways Executive Club
  • China Eastern Airlines
  • China Southern Airlines’ Sky Pearl Club
  • Delta Airlines SkyMiles
  • Emirates Skywards
  • Etihad Airways
  • Flying Blue
  • Gol Smiles (2:1)
  • Hainan Airlines
  • Hawaiian Airlines
  • Japan Airline (JAL) Mileage Bank
  • Jet Airways
  • LAN Airlines LANPASS Kms (1:1.5)
  • Miles and More
  • Qatar Airways
  • Saudi Arabian Airlines Alfursan
  • Singapore Airlines KrisFlyer
  • Thai Airways International Royal Orchid Plus
  • United Mileage Plus (2:1)
  • US Airways Dividend Miles
  • Velocity Frequent Flier
  • Virgin Atlantic Flying Club

For every 20,000 points you convert, you get an additional 5,000 point bonus. So 20,000 Starwood points = 25,000 miles on the airlines listed above. That’s 25% more miles per dollar than those airline-specific credit cards (although the waived baggage fees are appealing).

Great Hotel Rewards Card

Starwood is a growing collection of over 1,000 mid-scale to very-upscale hotels in nearly 100 countries, from the business-oriented Four Points and Sheratons to the upscale W and Westin hotels. This card has come in very handy for travel to international and bigger US cities.

Short-notice and emergency stays. All room taxes are included when you use points, and there are no blackout dates unlike other hotel programs. I’ve used them in a pinch, burning just 3,000 points for a last-minute $120 a night room at the Vancouver Airport Four Points (now Category 3).

Luxury international hotels. I’m usually happy with a Holiday Inn Express by the airport for a business trip, but when traveling for leisure it can be very convenient to stay downtown near the action and sights. In a city like Paris or Rome, this can mean big bucks. With this card, I’ve stayed at $300 a night hotels like the W New York, Westin Madrid, and Westin Venice. Being able to stay up late into the night in Venice instead of having to leave was amazing. If you redeem for 4 nights in a row in a Category 3 or higher hotel, the 5th night is free.

spgcashpoints2

Cash and points option. Don’t miss “cash and points” opportunities. For example, I found a $400 room at the Westin Rome in Italy or W Hotel New York Times Square for 8,000 points + $150 a night. Run the numbers yourself using the booking engine at SPG.com and look for the “SPG Cash & Points” option. The value of 30,000 points can be easily greater than $500.

This last option is not the best value, but for the purposes of setting a last resort and baseline value, 9,500 Starpoints = $100 gift card at Amazon.com.

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