With the continued popularity of airline mile frequent flyer programs, many credit card issuers and airlines are releasing high level reward credit cards.  Chase and United have just come around with the United MileagePlus Club Card which is designed for the most frequent of frequent fliers.  Problem is that in order to own this card, one must pay a very steep $395 annual fee.

When I see a fee that high, I know that many consumers will write off the card immediately.  But sometimes, in rare cases, a credit card with that high a price is actually worth it.  Does the United MileagePlus Club Card qualify as one of those instances?  Unfortunately no …

United MileagePlus Club Card High Rewards Program

Every new cardholder of the United MileagePlus Club Card will receive a $95 statement credit after the first purchase.  Included in the bonus package are the following rewards (which I will say are quite nice):

• United Club airport lounge access on every visit
• Two miles earned on every dollar spent on United flight purchases with 1.5 miles earned for every dollar spent on all other purchases
• First & second checked bags are free
• No foreign transaction fees
• Premier travel services offered by Chase and United Airlines

Other benefits include things like 24/7 dedicated customer service and extended warranties with purchase protection.  The United MileagePlus Club Card has a variable purchase APR of 15.24% but again, comes with a $395 annual fee which is not waived for first year members.

The bottom line here is that I can find a better up front bonus with the Chase Sapphire Preferred Card ($400 cash), better travel rewards program per dollar spent with the Capital One Venture (2 miles) and better airline perks and details with the Gold Delta SkyMiles Card (if you fly Delta!).  Granted, you would have to own several cards to get those benefits but that’s a small price to pay to avoid the big annual fee.

For extremely frequent United flyers, the United MileagePlus Club Card is a good option because of it’s airport lounge benefits and additional United perks.  For anyone else, there are better travel rewards credit cards available.

The United MileagePlus Club Card Doesn’t Pay Off is a post from: PT Money: Personal Finance by PT.
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In 1985 Sears introduced a new credit card  known as Discover.  At the time the Discover Card was introduced, Sears was the largest retailer in the United States and the addition to this payment method would further they’re sales.

Unfortunately, pressure from Wal-Mart and other large retail chains caused Sears to accept Visa and MasterCard in addition to only Discover and in 1993, Sears was forced to sell off the Discover brand.   Today, the Discover More Card is one of the most recognizable cash back credit cards available to consumers, and almost everyone knows who Peggy is, the hilarious eastern European customer service rep.

The Discover® More Card fires on all cylinders for customers, offering a good interest rate, great rewards program and exceptional intro period.  Let’s start with the rewards program, which offers consumers cash back on every purchases.  For the first $3,000 spent, cardholders will earn a meager 0.25% cash back.  After $3,000 is spent annually, 1% cash back is earned on all purchases.  Unless of course you are spending in the 5% cash back bonus categories, which change each quarter (and sometimes each month).   5% cash back can be earned on select purchases each month and there is a limit to the amount of cash that can be earned in these categories, which changes from time to time.  The 2012 schedule for 5% cash back categories is as follows:

• January – March: Gas & Entertainment
• April – June: Restaurants & Movies
• July – September: Gas & Summer Fun
• October – December: Holiday Shopping

Equally if not more impressive is the introductory offer the Discover® More Card provides it’s cardholders.  Everyone will receive a 0% intro APR on purchases AND balance transfers for 15 months.  The balance transfer fee is 3% and once the intro rate expires, the standard purchase and balance transfer APR becomes 10.99% – 20.99% variable, depending on the applicants credit history.  The stronger your credit, the lower your interest rate and vice versa.

Last but not least, the Discover More Card charges no annual fee.  In fact, the reason why the Discover Card was so successful back in the 80′s was because it was the only credit card that didn’t charge an annual fee.  Using a card for your everyday purchases is a great way to increase the discounts you receive, and doing it with a no-fee credit card is crucial to maximizing rewards.

All in all, the Discover More Card continues to shine and prove itself worthy of being owned by millions of Americans.  Even though the cash back categories and intro periods are constantly changing, the core values of high cash back and no annual fee will always attract customers.

My credit score is still not perfect but for the first time in four years, I was  able to secure a new credit card.  Discover’s credit criteria for the Discover More Card was right in line with my credit so I applied and was approved (Whew).  If you’re in need of a new  credit card that does everything very very well, consider the Discover® More Card.

Finally Approved for the Discover More Card! is a post from: PT Money: Personal Finance by PT.
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Citibank has been spending a lot of time revamping their business line of credit cards and earlier today, they re-launched the Citi Business / AAdvantage World MasterCard which now includes a 30,000 mile up front bonus.  While it’s a pretty solid offering for American Airlines flyers, it’s not overly spectacular.  Here’s my interpretation of what has become a cookie cutter offering from Citi.

Citi Business / AAdvantage World MasterCard Review

The opening bonus of 30,000 miles is provided to all new Citi Business^® / AAdvantage^® World MasterCard^® holders after they’ve spent $1,000 in the first three months.  That many miles is usually good for a round-trip coach ticket anywhere American Airlines flies (domestically).  This credit card also includes a variety of other benefits:

• First checked bag is free ( for up to five total members in your reservation)
• Priority boarding
• A $99 companion ticket every year more than $30,000 is spent on the card
• 2 AAdvantage miles for every dollar spent on American Airlines flights (1 AAdvantage mile for every dollar spent on all other purchases)
• A 5% bonus on miles earned every year the card is renewed.  (For example, earn 20,000 points in a year and get an additional 1,000 miles bonus)

What you see above can be found in pieces of every other airline / business credit card on the market today.  Most every airline credit card now offers free checked bags, as well as a discounted companion ticket, priority boarding and double miles for select purchases.  In comparison, the Chase Sapphire Preferred Card offers a 7% bonus on rewards earned during the year which means the Citi Business^® AAdvantage^® World MasterCard^® is a solid overall card but unfortunately does not excel in any one area. 

Citi Business Card Pricing Details

There must be a consensus amongst banks on how to determine interest rates and fees because the Citi Business AAdvantage World MasterCard fits nicely into the mold here as well.  Cardholders can expect a variable interest rate of 15.24% with an annual fee of $95.  Said annual fee is waived during the first year, allowing consumers to take advantage of the up front offer.

Of the major credit card issuers, Citi is one of the few which doesn’t actually brand their business line of credit cards.  You may be familiar with the “Spark” cards from Capital One and the “Ink” cards from Chase but Citibank continues to stick with independent business credit cards.  The Citi Business^® / AAdvantage^® World MasterCard^® is a solid play for any business in need of travel, but for overall effectiveness, it’s not a premier option.  Consider applying only if American Airlines and it’s affiliates is your airline of choice.

Citi Business / AAdvantage World MasterCard 30,000 Mile Bonus is a post from: PT Money: Personal Finance by PT.
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As many of the faithful PTMoney readers know, the 2012 Financial Blogger Conference is being held at the Hyatt Regency Denver.  I have yet to enjoy the pleasure of a Hyatt Hotel but this years conference will allow me my first opportunity.

Hyatt hotels are located all around the world and in an effort to have more travelers enjoy their perks, Chase and Hyatt have re-launched the Hyatt Credit Card.  This card offers a variety of good perks, including the opportunity to earn three free nights at Hyatt Hotels the very first year.

Hyatt Credit Card Free Stay Bonus

Every new Hyatt Credit Card member will receive two free nights at any Hyatt location after making one purchase.  An additional nights stay (category 1-4 Hyatt locations only) is awarded on the first anniversary of your membership bringing the bounty for the first year to three free nights.  Of course, the amount of money you can save depends on which locations you visit but with even standard Hyatt hotels run upwards of $199 a night (meaning a $600 savings year one).

Hyatt Credit Card owners also receive a nice set of perks when you stay at Hyatt Hotels:

• A 15% point bonus on each stay
• Preferred room including rooms on higher floors or larger rooms
• Complimentary in-room Internet access
• Extend your stay until 2:00 p.m. with a late checkout request
• Expedited check-in at a dedicated area for elite members

The rewards program on the Hyatt Credit Card offers three points for every $1 spent at Hyatt properties and 1point for every$1 spent elsewhere.  No foreign transaction fees are charged with this card and there is an annual fee of $75.  That fee is standard amongst hotel rewards credit cards but a definite negative on the list of things to consider before applying.

Does the Hyatt Card Belong in Your Wallet?

The answer to this questions depends on how often you’re on the road.  The Hyatt Credit Card is great for people in need of frequent hotel stays, like someone whose business takes them on the road or for the world traveler.  Triple point rewards and good Hyatt perks do their job in making you want to stay at Hyatt locations but if that’s not your thing, this card card shouldn’t be either.

• Visit the secure application page for more information on the Hyatt Credit Card.

Hyatt Credit Card Now Dishes Out 3 Free Nights is a post from: PT Money: Personal Finance by PT.
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Since the turn of the year, credit card bonuses have been dwindling.  That’s a fairly common thing to happen in the first two quarters of a year as issuers pump up offers around the holiday shopping season, then pull back.  That being said, Chase has just launched the first new big bonus of 2012 with the 100,000 Avios promo the British Airways Visa Card is offering.

British Airways 100,000 Avios Bonus

To be clear, the British Airways Signature Visa also had an offer launched last year which gave 100,000 bonus miles to new cardholders, so this is a refresh with a slightly different twist on how to earn the Avios (new slang for miles).

• 50,000 Avios are earned after making your first purchase
• 25,000 Avios are earned after spending $10,000 in the first year
• 25,000 Avios are earned after spending an additional $10,000 in the first year

So what is 100,000 Avios worth these days?  We’ll that depends on what you redeem your miles for and where you live.  First class flights to Europe can run more than $5,500 but 100,000 Avios will cover the entire flight.  Taxes will still need to be paid (which can run around $1,000 for very long distance flights) but for a credit card to save you more than five grand, it’s one of a kind.

British Airways Rewards Program

Sadly, in order to receive the 100,000 Avios, you have have to spend $20,000 in the first year.  That’s a lot of coin for the average American but when you add up your gas, utilities, groceries, vacation spending and other purchases, you might be able to make it.  And don’t forget, you’ll be earning rewards for every purchases as well.  Added perks on the British Airways Visa Signature break down as follows:

• 2.5 Avios for every dollar spent on British Airways flights
• 1.25 Avios for every dollar spent everywhere else
• No foreign transaction fees (a real nice perk for the international traveler)
• Annual travel together ticket each year you spend $30,000 or more

Some of the more standard features of the British Airways Visa Signature are it’s 15.24% variable purchase and balance transfer APR and $95 annual fee.  Seems as if every travel card has a $95 annual fee these days but for the big up front bonus this card provides, it’s workable (but make sure to use this card and use it often year one)

Chase is the credit card issuer behind this bonus and cards like this usually last a few months before being pulled off the market.  This has the feeling of being a very popular summer and travel type card, so if you and your family or friends have a long distance trip in the works, the British Airways Visa Signature is a great money saver.   You won’t find a bigger bonus anywhere.

British Airways Signature Visa and Their 100,000 Avios Bonus is a post from: PT Money: Personal Finance by PT.
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UPDATE – The Chase Freedom Visa $200 Bonus Cash Back is now expired.  Visit our page with the best cash back credit cards to find another cash card that fits your needs.

Competition between business can be an amazing thing for consumers, and what is happening in the credit card industry is a perfect example.  Every day it seems, a credit card issuer is launching a bonus offer, only to be topped a few days later.  Today, consider everyone other than Chase officially beaten as the Chase Freedom® Visa – $200 Bonus Cash Back is now available for just a few days longer.

The $200 cash back is awarded after spending $500 in the first three months. The Chase Freedom Visa – $200 Bonus Cash Back also includes a 5% cash back rewards program on specific categories month.  From April 1st – June 30th, the 5% categories are:

• Grocery stores
• Movie theaters

There is a quarterly maximum to the amount of cashback that can be earned from the 5% categories but no maximum to cash back earned from the standard 1% rate.  Cash back earned never expires so long as your account with Chase is always open, and in good standing.

The purchase APR on the Chase Freedom® Visa – $200 Bonus Cash Back is 15.99% – 22.99% variable depending on your credit history.  The cash advance APR is 19.24% variable or, if your purchase APR is 22.99% variable, then 23.24%, based on your creditworthiness.  The default APR is 29.99% variable, so avoid paying that ridiculously high interest rate at all costs. There is no annual fee to own the Chase Freedom Visa – $200 Bonus Cash Back, so none of the initial bonus is given back in a yearly fee.

This $200 promotion is available for a limited time only and you won’t find it everywhere.  Chase requires above average to excellent credit in order to be approved for the Chase Freedom Visa – $200 Bonus Cash Back and with no annual fee and a great rewards program, this card is one of the best.  To complete an application or find more info, visit the secure application page for the Chase Freedom® Visa – $200 Bonus Cash Back.

Chase Freedom Visa $200 Bonus Cash Back – Last Chance is a post from: PT Money: Personal Finance by PT.
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Looking for a great way to bring in some extra money every year? Look no further than credit card rewards.

If you pick the right credit card rewards programs and use the card for the majority of your spending, you could bring in an extra few hundred each year.

Before you head down this road, there are some things you should know to make the most of your efforts.

Check out these five tips for optimizing credit card rewards.

1. Understand How and Where You Spend Your Money

It’s a smart move to think about what type of spender you are, before you run out and get the first cash back rewards card offered to you. Do you travel a lot for work or leisure? Do you spend a lot of money on hotels and flights? What about fuel? Do you spend a lot of time on the roads burning gas?

You get the concept here. Determine what type of spending you do and pick the cards that make the most sense for someone like you. (e.g. if you take the bus to work each day, then a card that rewards you for fuel expenses isn’t going to work for you).

2. Skip the Cards with Annual Fees (In Most Cases)

Standard advice when it comes to credit card rewards is to avoid cards that have annual fees. This sound reasonable as an annual fee would tend to cancel out some of the rewards you are earning.

Personally, I do try to make it a point to not have a card with an annual fee. If you find yourself with one of these cards then be sure to do an analysis to see if the difference in rewards/cash earned makes it worth keeping.

3. Don’t Spend Money Just So You Can Earn Rewards

Don’t let the tail wag the dog here. Your goal is not the most credit card rewards regardless of the means to get there. Your goal is the most credit card rewards given the amount of spending you normally do.

I turn off all the emails that credit card companies send me that might try to influence me to spend when I otherwise would not. I also stopped all the junk mail. I suggest you do the same. You decide when to spend your money.

4. Absolutely No Balances…Ever!

I hoping this goes without saying for all of my money savvy readers, but please pay off all of your credit cards in full each month. Just like with those tricky annual fees, the interest charges you pay on your balances cuts into your rewards earned. Plus, it’s a sign that you are spending money you don’t have. Don’t spend money you don’t have.

5. Be Smart About Redeeming Rewards

Be sure you understand how the card company is going to payout their rewards before you just start redeeming points. Many reward programs are going to have specific teirs that you need to achieve before you can redeem the ideal/optimal number of rewards.

I primarily roll with the cash back cards (highly recommended unless you are a travel junkie) and here is an example of how I redeem rewards.

This particular card will allow me to redeem points for cash at these tiers:

Cash Back Points

5000 $25 Check
7500 $37.50 Check
10,000 $80 Check
15,000 $120 Check
20,000 $160 Check
25,000 $220 Check
30,000 $300 Check
35,000 $350 Check
50,000 $500 Check

It’s plain to see, the most advantageous time to redeem the points would be when I’ve accumulated 30,000 points. If I were to redeem points at any earlier time, I wouldn’t be taking full advantage of the program. Be sure you attain your ideal tier prior to pulling out points for cash.

It’s wise to also be aware of the date that your points will expire. Personally, I use a lot of my points for spending at Christmas time, so I’m prone to always check them annually. You should implement a similar rule or place a note on your calendar to remind you. Good luck.

I know I have some very skilled readers who optimize their credit card rewards far better than I could imagine. Please share your tips below.

5 Tips for Optimizing Credit Card Rewards is a post from: PT Money: Personal Finance by PT.
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It’s been some time since a bank has improved the offer on one of it’s frequent flyer credit cards but Citi recently launched an update to their American Airlines frequent flyer credit card.  The Citi Platinum Select/AAdvantage Visa Signature Card has increased a few important perks while keeping a low annual fee for all American Airline travelers.  Let’s take a deeper look into the pros and cons of card ownership.

Following $1,000 in purchases during the first three months, Citi Platinum Select/AAdvantage Visa Signature Card holders will receive 30,000 bonus miles.  Although the application page makes no mention, 30,000 bonus miles is enough for a round-trip flight in the continental United States with a few points left over.  Not to mention …

• A $100 American Airlines discount every year you spend $30,000.  That’s a lot of money to spend on a credit card in one year so while this is a nice perk, don’t count on it year in and year out.
• First checked bag on all American Airlines flights is free for you and up to four other members of your party.
• 10% of your redeemed American Airline miles are returned every year.  For example if you turned in 50,000, you’d receive a 5,000 mile bonus.
• Double miles on all American Airlines purchases
• 25% discount on in-flight food and beverages (which is a very nice perk for the frequent flyer)
• No mileage cap and priority boarding on every flight

AAdvantage Pricing Details

Even though this credit card should be used for travel only (and paid in full every month), sometimes an emergency comes up where you have to roll over a balance month to month.  The Citi Platinum Select/AAdvantage Visa Signature Card has a variable APR of 15.24%, which is pretty average for a credit card these days.  The cash advance APR is 25.24% and the default APR is 29.99%.

Unfortunately, you won’t find an introductory offer on the Citi Platinum Select/AAdvantage Visa Signature Card and the annual fee is somewhat steep at $95.  But that fee is waived for all first year cardholders and just about matches the annual fee on all other airline miles credit cards.

For those that fly American Airlines often, the Citi Platinum Select/AAdvantage Visa Signature Card is a card you need to own.  The miles you’ll rack up on flights in addition to the discounts you’ll receive during flights makes this a pretty solid offer from Citi.  The $95 annual fee is a detraction to the overall value, but trying it for 12 months won’t hurt your wallet.

New and Improved Citi AAdvantage 30,000 Bonus Mile Offer is a post from: PT Money: Personal Finance by PT.
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Update – The 50,000 bonus point offer on the Chase Sapphire Preferred Card expired on Tuesday April 3rd at 10am ET.  The new offer is reduced by 20%  (only 40,000 points) which is worth $500 toward travel booked through Ultimate Rewards.

Chase continues to be hard at working in trying to obtain new credit card customers and they’ve now launched a 40,000 bonus point offer on their Chase Sapphire Preferred℠ Card.  If you turn the 40,000 bonus points in for cash, you can get a $400 statement credit but if you use them to redeem a flight through Ultimate Rewards, you can get a ticket worth up to $500.  Not to worry if your flight is more expensive … you can simply pay the difference.  The catch, if you want to call it that, is that the new cardholder must spend at least $3,000 within the first three months.

The reason you can get a more expensive plane ticket is the Chase Sapphire Preferred Card offers a 25% increase in points when you redeem them through their Ultimate Rewards platform.  Plus, cardholders will also receive a 7% dividend at the end of the year, meaning you’ll receive even more points!  Every dollar spent on travel and dining is worth two rewards point and all other purchases are worth one.

The Chase Sapphire Preferred℠ Card‘s $95 annual fee is waived for the first year and the coolest feature of this card is the 24/7 live operator support you’ll receive.  No pushing buttons to connect to a human being, the number you are provided on the back of your Chase Sapphire Preferred Card leads straight to a customer service representative.

So if you’re looking to make a big purchase in the next few months or find yourself putting most of your daily purchases on one credit card AND have the excellent credit required to obtain this card and limited time bonus offer, consider the Chase Sapphire Preferred℠ Card.

Chase Sapphire Preferred Card $400 Cash Bonus is a post from: PT Money: Personal Finance by PT.
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Update – This card has just tripled it’s bonus offer to provide $150 in gift card rewards.

In an effort to provide consumers with a credit card they can use for just about anything, Citibank has launched a new line of cards, focused on high rewards and low fees.  One of those cards is the Citi ThankYou℠ Preferred Card and for a limited time, all new cardholders will receive 15,000 bonus ThankYou points, enough to redeem a $150 gift card through the ThankYou rewards network.  Cardholders must spend $1,000 within the first three months to qualify for this bonus.

This Citi ThankYou Preferred Card does not have 0% intro offer, the standard purchase APR is 12.99% – 22.99% variable, based on the applicants credit history.

The rewards program for the Citi ThankYou℠ Preferred Card is straightforwards.  Points are earned on every purchase and be broken down in the following way:

• 5 points for every dollar spent on gas station, drugstore and supermarket purchases during the first 12 months
• 1 point for every dollar spent on all purchases after that

So long as you make one purchase every 12 months, your ThankYou points will never expire and the longer you are a cardholder of the Citi ThankYou Preferred Card, the more points you will earn as a bonus!  Each year, cardmembers will receive a bonus based on the length of time they’ve been with Citi.  The bonus is a percentage of the overall points earned on the year and is currently in three tiers:

Membership Year	Anniversary Bonus
0-1	1%
1-2	2%
2+	3%

Last but not least, an additional 200 ThankYou points can be earned after enrolling an account online and signing up for paperless statements. The Citi ThankYou Preferred Card has no annual fee, meaning your $150 gift card doesn’t come with a catch. This spring, if you need a card that earns a high reward for all of your gift purchases and gives you a little something extra on the side, consider applying for the Citi ThankYou℠ Preferred Card.

Citi ThankYou Preferred Card $150 Gift Card Bonus is a post from: PT Money: Personal Finance by PT.
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