As featured in The Wall Street Journal, Money Magazine, and more!

Uncategorized


If you travel by airplane often, and you find that the best prices for your routes center around one airline, it can often be beneficial to join that airline’s frequent flier loyalty program. In addition, many airlines also partner with credit card companies to offer travel rewards credit cards that help you accrue frequent flier miles faster.

American Airlines is a large airline with a long history, and over that time the company has developed loyal customers. For those who fly this airline often, the Citi® Platinum Select®/AAdvantage® Visa Signature® Card offers rewards for credit card users. Right now, signing up for this card means you’re eligible for 30,000 American Airlines AAdvantage bonus miles once you make $1,000 in purchases within the first three months of cardmembership. Here’s a review of the card’s features and how to earn bonus miles.

Citi® Platinum Select®/AAdvantage® Visa Signature® CardAs mentioned above, to start you off, new Citi Platinum Select/AAdvantage Visa Signature Card cardholders will receive 30,000 AAdvantage bonus miles after spending $1,000 on the card during the first three months of card ownership. That’s less than $350 a month; just putting your monthly groceries on the card and paying them off before the bill is due might put you close to that amount. The 30,000 bonus miles is worth a round-trip economy ticket within the continental U.S. (including Alaska) and Canada, if you can book one of the restricted MileSAAver award seats. When you redeem AAdvantage bonus miles, you also earn 10% of those redeemed miles back as new AAdvantage bonus miles, up to 10,000 bonus miles in a calendar year.

On an ongoing basis, the rewards program for the Citi Platinum Select/AAdvantage Visa Signature Card is fairly straightforward. Spenders earn two AAdvantage miles for every dollar spent on eligible American Airlines purchases and one AAdvantage mile for every dollar spent on other purchases.

Every card membership year in which you make at least $30,000 in purchases and you renew your cardmembership, you can also receive a $100 flight discount redeemable towards an American Airlines, American Eagle, or AmericanConnection carrier ticket originating in the U.S., or towards a ticket booked with a oneworld partner or on an American Airlines codeshare flight.

Frequent American Airlines fliers will appreciate that this card lets you check one standard eligible bag for free (normally $25 for a domestic flight). Also free are the first checked bags of up to four traveling companions, as long as they’re traveling on the same reservation as the primary cardholder — a nice benefit for family travel. Cardholders and up to four companions on the same reservation also get priority boarding with Group 1 privileges* and 25% savings on eligible in-flight purchases*.

The interest rate for the Citi Platinum Select/AAdvantage Visa Signature Card– currently a variable APR of 15.24% for purchases — is above the average for rewards cards. The cash advance APR is 25.24%, but for most responsible cardholders, cash advances will not be a consideration.

Unfortunately, there is a $95 annual fee associated with this card, but the fee is waived during the first twelve months. Plus, if you usually check a bag on your American Airlines flights, the first-checked-bag-free benefit would more than cover that annual fee within one round-trip itinerary for two people.

When you look at the Citi Platinum Select/AAdvantage Visa Signature Card from top to bottom, the card appears to come off as average or perhaps below average. This card is best for people who can pay their balance in full each month and who are American Airlines frequent flyers, both because the bonus miles you earn for initial spending adds up to a free flight and because of the travel perks that can make each American Airlines flight a little more pleasant. Only frequent flyers of American Airlines should consider owning this card. To apply, or for additional information on terms and conditions visit the Citi Platinum Select/AAdvantage Visa Signature Card application.

*See terms and conditions on Citi Platinum Select/AAdvantage Visa Signature Card application page for additional information

{ 0 comments }

The idea of prepaid card being used as financial tools can be a cringe-worthy concept, particularly to savvy financial experts. For most Americans, prepaid cards aren’t really part of the tool set. The benefits of a credit card are much stronger than prepaid cards, and with most people qualifying for credit cards, even through the recession, prepaid cards don’t get a lot of respect. The drawback of prepaid cards are the varieties of fees. For consumers without choices due to bad credit or no credit, prepaid card issuers really have an advantages. These fees can be exorbitant like those for the RushCards.

There are much better deal available. One such card with reasonable fees — keeping in mind it is still more expensive to own a prepaid card than most credit cards – is the Mango™ MasterCard® Prepaid Card. In addition to the low fees, this card provides a 6% APY on money deposit. In today’s interest rate environment, where banks are offering 1% APY or much less on savings, this is a compelling option. The money you deposit with the prepaid card is FDIC insured, too, so your money is never at risk.

Mango<sup/>TM MasterCard® Prepaid Card” width=”240″ height=”159″ border=”0″ /></a>With an interest rate offer this good, as you’d imagine, there is a catch. The six percent interest rate provided to all <a rel=Mango™ MasterCard® Prepaid Card members has the following stipulations:

  • Customers must open a Mango Money bank account, which can easily be done online.
  • Card holders must initiate a direct deposit, also easily completed online. Without direct deposit, the interest rate would be 2%.
  • The 6% only applies to the first $5,000 deposited, with anything above $5,000 receiving a 0.10% APY.

Consumers expecting to transfer hundreds of thousands of dollars to their new Mango online savings account will be disappointed to see that only the first $5,000 will qualify for the six percent interest rate, but this prepaid card is designed for people in need of a payment method, struggling to make ends meet. The Mango™ MasterCard® Prepaid Card is able to provide such a high interest rate because it does very little marketing and print advertisements, passing the money on to the consumer with this offer.

While the above deal sounds quite good, particularly for people who don’t have other options available, but there are drawbacks. The Mango™ MasterCard® Prepaid Card charges just a few general fees, the largest of which can be easily avoided. Card holders can expect to pay these fees:

  • $5 monthly fee. This fee can be waived if the card holder loads at least $500 onto the card during the month.
  • $2 ATM withdrawal fee. Keep in mind that this fee would be in addition to any fee the ATM charges.
  • $0.50 ATM balance inquiry fee. There is no fee to check your balance online, however.
  • $4.95 cash load fee using Green Dot. Direct deposit and the first six electronic transfers each month are free of charge.
  • $10 account closing fee.

There are no application fees, sign-up fees, one-time account opening fees, or any other tactics prepaid cards often take advantage of consumers. For a limited time, when a new account holder makes two direct deposits, the issuer will add a $20 credit to the Mango Money savings account.

The Mango™ MasterCard® Prepaid Card does not report to the major credit bureaus and is not designed to be used by anyone who has good to excellent credit. Prepaid credit cards help consumers with poor credit in need of a safe and secure way to pay for everyday purchases as an alternative to using cash. This one just happens to have a head-turning interest rate, and it’s quite possible for card holders to avoid paying fees. Prepaid cards prevent holders from spending money they don’t have, but so does a cash-only approach. If it weren’t for the 6% APY interest rate, I might not even mention this card.

Saving money has become quite depressing these days. Almost every day, I need to update the best online savings account page by reducing the interest rates. After another flurry of rate decreases this week, the best rate available today is a sad 1%. Just three years ago, banks were attracting customers with rates of 3% or 4%. With current Federal Reserve policy, there’s no telling just how low deposit interest rates will go.

If you find yourself in need of a prepaid card or are looking to maximize the return of $5,000 in a safe and secure way, consider applying for the Mango™ MasterCard® Prepaid Card and earn a return of up to $300 a year on your money.

{ 13 comments }

The offer you are interested in has expired. Read our review of the Slate From Chase.

{ 3 comments }

The offer you are interested in has expired. Read our review of the best airline miles credit cards
.

{ 3 comments }

Discover Open Road Card

by Luke Landes

The Discover Open Road Card Up To $50 Cash Back Bonus offer you are interested in has expired. Read our review of the Discover Open Road Card.

1 comment Read the full article →

Citi Platinum Select / AAdvantage World MasterCard Review

by Luke Landes

The offer you are interested in has expired. Read our review of the Citi® Platinum Select / AAdvantage Visa Signature Card.

4 comments Read the full article →

Last Chance: 25,000 American Express Points Sign-Up Bonus

by Luke Landes

The offer you are interested in has expired. Read our review of the American Express Premier Rewards Gold Card.

5 comments Read the full article →

Review: I Will Teach You to Be Rich by Ramit Sethi

by Luke Landes

I’ve been in touch with Ramit Sethi since not long after he began writing on his blog, I Will Teach You to Be Rich, almost five years ago. It is no surprise to me that Ramit, after enhancing his writing with years of practice on his rapidly-growing website, has published I Will Teach You to ... Continue reading this article…

17 comments Read the full article →

ING Direct Drops Savings Interest Rate to 1.5% but Bonuses Still Available

by Luke Landes

Even though ING Direct has lowered the interest rate offered on the Orange Savings Account, one of the most popular online savings accounts. The bank is still offering $25 bonuses to new customers who open this savings account or the high-yield paperless checking account with an initial deposit of $250 or more. In addition, when ... Continue reading this article…

5 comments Read the full article →

Chatted With Ramit from I Will Teach You to Be Rich

by Luke Landes

Last night, Ramit Sethi from I Will Teach You to Be Rich got together over Skype to chat about money. We spent about 90 minutes answering the questions provided by Consumerism Commentary readers last week. Ramit came up with this idea to coincide with the release of his new book, aptly named, I Will Teach ... Continue reading this article…

8 comments Read the full article →

Ask Any Question and Ramit and I Will Discuss the Answers

by Luke Landes

Ramit Sethi from I Will Teach You to Be Rich is currently putting the final touches on his first published book, aptly named, I Will Teach You to Be Rich. He’s probably tweaking the final paragraphs as I write this. Ramit’s new book, which will be released on March 23, includes a few pages I’ve ... Continue reading this article…

20 comments Read the full article →

Free Download: Suze Orman’s 2009 Action Plan: Keeping Your Money Safe & Sound

by Luke Landes

Suze Orman, the guru of personal finance gurus, is offering her latest book, 2009 Action Plan: Keeping Your Money Safe & Sound, for free. Through January 15, you can download this 209-page book without paying a cent. Here is the download link for the free PDF version of this book. The book tackles credit, retirement ... Continue reading this article…

12 comments Read the full article →

Get a $25 Bonus With the Amex True Earnings Card

by Luke Landes

The offer you are interested in has expired. Read our review of the True Earnings Card From Costco and American Express.

28 comments Read the full article →

Capital One® Credit Cards With No Balance Transfer Fees

by Luke Landes

Last updated: November 30, 2008. Capital One® offers a number of credit cards with no balance transfer fees. For this reason, if you are looking to consolidate your credit card debt onto one cars which you don’t plan on using for purchases, you may want to take a look at these offers. Please be aware ... Continue reading this article…

8 comments Read the full article →

Why I Have No Money

by Smithee

Near the end of my college career there was a sort of “Psychic Fair” on campus. As I recall, nobody charged us anything, so I got a reading from a Numerologist. She basically had me fill out a form with some information about myself. I remember “full name” and “birthdate”, for example. Multiple calculations later, ... Continue reading this article…

10 comments Read the full article →

New $5 Bill Now in Circulation: Is it Time to Revalue the Dollar?

by Luke Landes

I’m a fan of paper money less than I am of coins, but I still like to take notice whenever any currency is redesigned. The $5 bill is the latest to get a make-over to thwart counterfeiters and to keep things interesting. Apparently counterfeiters prefer to bleach current $5 and reprint images of $100 bills ... Continue reading this article…

14 comments Read the full article →

The Cost of Buying a Home, Low Cost of Living, and Fed Cover-Up

by Luke Landes

Has anyone been watching the HBO miniseries, John Adams? Although colonial America is not my favorite period of history, I’ve been enjoying the first episodes that have aired. However, during the slower sections of the program, you may want to take the time reading articles from Consumerism Commentary’s history. From the first half of March ... Continue reading this article…

2 comments Read the full article →

My Wealth in USD is Increasing, But the Dollar is Falling

by Luke Landes

The value of the dollar in comparison to other countries around the world is falling. Meanwhile, my net worth is increasing, so naturally I began thinking. Is it possible that although I’m earning income, saving, and investing, I’m not actually gaining ground from a global perspective? Furthermore, does a global perspective matter to me? I ... Continue reading this article…

14 comments Read the full article →

This Month in the Archives: Life Without Debt, Better Sex, and Bank Robbers

by Luke Landes

If you’re new to Consumerism Commentary, these articles from the archives will be new to you. From the Second Half of February 2007 The Case Against a Life Without Debt Tips for Purchasing a Musical Instrument for the Non-Professional How Much Do You Pay in Taxes? Survey Says: More Money Leads to Better Sex Advice ... Continue reading this article…

2 comments Read the full article →

Back From D.C. (and Blog Roundup)

by Luke Landes

I took a vacation from work this past week to coincide with my girlfriend’s winter break (she’s a teacher). We traveled to Washington, D.C. to see the sights and meet up with some friends. Thanks to the snow, the exhibits were not very crowded. Unfortunately, the weather had a negative effect on our health, and ... Continue reading this article…

10 comments Read the full article →
Page 1 of 2712345···Last »