Best AmEx Blue Cash Rewards?

American Express sends out a monthly email to Blue Cash cardmembers with information about different features, tools, and rewards for the card. They’ve been asking a series of questions over the last few months to get our opinion about the best credit card rewards.

Here are the last three questions they’ve asked about rewards.  After each I share which of the rewards the card members thought were best and what I think of the picks.

1) Which categories would you like to earn more on spending?

  • Wireless Service
  • Home Improvement
  • Restaurants
  • Department Stores
  • Other

Obviously the answer to this one is going to depend on your lifestyle.  A young couple with a newer home and no kids might not spend very much on home improvement but might eat out five nights a week.  Whereas a family with 4 kids and an older home might spend a lot on home improvement but not eat out much because it costs so much to feed 6 people.

Personally, I don’t spend that much on wireless service because we’re grandfathered into a good cell plan and I hardly ever step foot into a department store. I agree that restaurant spending can add up over a month, even though we don’t eat out all that often.  While home improvement includes bigger tickets purchases we don’t make them as frequently so for me it’s a toss up between home improvement and restaurants.

The results of the survey were that more card holders would like to earn more on spending at restaurants. How about you, which would you pick?

2) What travel benefits sound most exciting to you?

  • Airport lounge access
  • Premium baggage protection
  • Baggage fee waiver
  • No foreign exchange fee on your Card
  • None of the above

The top pick for travel benefits among card holders was the baggage fee waiver. I’m not surprised at all with this one, no one likes to pay extra for bags when they fly.  Some American Express cards, like the American Express Delta SkyMiles, are already offering a baggage waiver fee if you buy the plane ticket with your card. This airline reward could come in especially handy if you’re traveling with a big family, the savings would be multiplied by each person who was flying.

3) Which type of entertainment access interests you most?

  • Big ticket concerts
  • Live private concerts with new bands
  • Tickets to the largest events across the country
  • Access to nightlife and club events in major cities
  • None of the above

Entertainment rewards are probably the lowest on my list simply because our entertainment spending is pretty limited due to our two little kids. Entertainment these days consists of going to the pool, playing in the park, or watching a kid movie from the library.

If we did get out more the option of access to nightlife in major cities could be an useful one. Of course not everyone lives in a big city, which is probably why the top choice for entertainment rewards was “Big Ticket Concerts”. Concert tickets aren’t cheap in the first place, then when you add in all the handling and processing fees places like Ticketmaster charge it can get expensive quickly.

Overall, the best Blue Cash rewards option for me would be to earn more cash back. Since our spending on entertainment and travel are minimal, getting more cash back at restaurants or on home improvements would be my choice.

If American Express decides not to add in those rewards, I could always use the Chase Freedom for home improvement purchases to earn more in the spring or the Discover More card to earn 5% cash back at restaurants in the winter. I’ll keep an eye out to see what, if any, changes American Express makes as a result of the survey feedback. Which credit card rewards would you like to see added?

Posted on July 8th, 2010 in Credit Cards | 3 Comments

Written by Ben Edwards · Filed Under Credit Cards 

Financial Independence Principles

I’ve written before about your financial independence day and how the  principles of sacrifice, perseverance, humility, innovation, leadership, camaraderie, and bravery can help you find financial freedom.  It’s been two years since I wrote about financial independence but all the analogies still apply to you and your money.

I don’t have any more tips for you today, you can go back and read the principles I’ve already outlined, but I have put together a list of some recent articles that can help you on your way:

Retirement

Investing

Frugality

Personal Finance

Here’s to your success on your way to financial independence!

Posted on July 5th, 2010 in Personal Finance | 11 Comments

Written by Ben Edwards · Filed Under Personal Finance 

Selling Your House Isn’t Easy

Selling your house is a lot of work!  Every night after the kids go to bed we clean up the house to prepare for any potential showings the next day.  Then we switch to buyer mode and spend time looking over and discussing new houses for sale that might be a good fit for us.  Factor in having to vacate our house on short notice anytime a realtor wants to show it and this last month has been rather exhausting.

I remember when we were debating whether to put our house on the market we finally decided to just give it a try and see how the market treated us. We didn’t realize how much work it would be preparing the house to sell, keeping it ready to sell, and looking for a new house that met our criteria.  I’m still glad we decided to list our house because we’ve learned a lot about the market and the process. However, some advice to anyone thinking about selling their house, it will be a lot of work so be sure you’re ready!

Strangely enough, I haven’t written much about selling or buying a house in the last month. I think this is partly because my brain is saturated with house buying and selling so it’s nice to take a break.  However, I am taking notes and I’ll be sure to share in the future what we’ve learned.  Here’s a summary of what we’ve covered over the last month.

Marriage & Money

One highlight of last month was our ten year wedding anniversary.  I shared the things that have helped my wife and I not argue about money in the Seven Habits of Financially Healthy Couples.  I also went over some things you can do before you get married to save your marriage from money problems.

Credit Cards

I shared an email  I received for American Express customers about how you can earn $25 for referring friends and family for the American Express Blue Cash Bonus.  I also mentioned the credit card reviews site that I’ve been publishing to off and on for the last few years but hadn’t pointed out before.

Saving Money

We’ve been going back and forth for a while over whether we should join Costco and we finally did once we found a good deal.  I shared the different Costco membership discounts I came across when researching how to save money on joining.  We took advantage of the wholesale prices for our son’s birthday, which was one of my 10 tips for  cheap kids birthday parties.

Summer time is full of big movie blockbusters and we spent a lot of money going to the movies last month so I pointed out how you can buy discount movie tickets on Angies List.

Travel

Since summer is a good time for family trips I went over some ways that you can get your car ready for a roadtrip.  If you’re going to be doing a lot of driving you might want to check out the best gas credit cards and also the Q&A I did on gas credit cards. My favorite question was whether you could register for gas for your wedding : )

Of course you don’t want to be driving around, especially on long trips without car insurance.  There are several ways you can buy insurance (brokers, captive agents, or direct writers)  which I look at in what’s the best way to buy auto insurance.

Finance

I wrote about a touchy subject that many people have probably dealt with, borrowing money from family.  I tried not to give an opinion on whether you should or shouldn’t, but rather went over some of the reasons why people find themselves in that position.

One topic that’s not a personal finance subject but is something people should be aware of is how to find a locksmith without being scammed.  I didn’t realize the shady practices that were going on in that industry and how much money people were being scammed out of until I read some articles on the subject and decided to share what I’d learned.

Just a few days ago I wrote about an ING Direct Promotion they were running for the July 4th holiday where you could earn $76 by opening an account.  The promotion has ended but just wanted to mention it’s a good reason to sign up for free updates so you can keep up on similar deals that pop up.

I hope you’re having a nice holiday weekend and look forward to giving you more good money posts in the month to come!

Posted on July 4th, 2010 in Personal Finance | 7 Comments

Written by Ben Edwards · Filed Under Personal Finance 

Discount Movie Tickets on Angies List

After spending over $40 on movie tickets one weekend last month I started searching around for a way to buy discounted movie tickets and found out you can actually save 60% on tickets using Angies List.

We used to love going to the movies but don’t get many chances to anymore now that we have kids. Our in-laws were nice enough to watch them the weekend of our 10 year wedding anniversary and we went to two different movies.  It was really nice to get out but it really stung paying over $40 for movie tickets.

Discounted Movie Tickets

I didn’t know you could get discount tickets on Angies List until I was reading through their most recent magazine and found a section with tips on ways to maximize your membership. One of the ways was to take advantage of the discounts on retailers and entertainment so I logged into the site to see what discounts were available. Here’s how you can save money on movie tickets by ordering through the Angies List website.

First go to the Member Resources menu and select the Discounts and Perks options.  You’ll come to the Member Discounts page and from there pick the Events, Theaters, and Theme Park Tickets option.  You’ll see the order form shown below where you choose which movie theater you want to order from and how many tickets you want.  You can pay for your movie tickets with either PayPal or a credit card.

They list the restrictions for each theatre on which tickets you can buy:

AMC/Loews/General Cinemas – Typical policy is removing restrictions after 2nd week of film’s release. Check with the box office. 

Cinemark Cinemas – Check newspaper or box office for restrictions.

Regal/United Artists Cinemas – Not valid during the first 12 days of ‘selected’ new release films.

Once you buy your tickets, they’ll be mailed to you in about a week so you’ll need to order them ahead of time.  The tickets aren’t for a certain day and are good for a month so if you’re planning on seeing a movie in the upcoming weeks order them in advance and you’ll save 60% off the box office prices.

Of course you have to be an Angies List member to take advantage of the discounted movie tickets, you can use these Angies List promo codes to get 25–40% off membership.

Posted on July 3rd, 2010 in Deals | 4 Comments

Written by Ben Edwards · Filed Under Deals 

ING Direct Promotion Holiday

Opening a bank account probably wasn’t on your list of things to do before the holiday weekend but if you don’t have an account with ING Direct and have thought before about opening one then today would be a good day.

You’ve probably read about Electric Orange checking promotions and ShareBuilder promotions in the past but the ones for today both come with a pretty big bonus.

Electric Orange Checking Promotion

If you open a new Electric Orange checking account today you can earn a bonus of $76, the highest ING promotion that I can remember.

You have to make a total of 7 purchases using your Electric Orange Card (signature or PIN-based) or Person2Person Payments (or any combination of the two) within 45 days of account opening to qualify for the bonus.

Unfortunately for me the bonus is only for first time Electric Orange customers so I don’t qualify.  If you don’t have an Electric Orange account and open one today and use your card as explained above, ING will deposit the $76 bonus into your account.

You don’t need any special promotion code, just open the account today to get the bonus.

ShareBuilder Promotion

The ShareBuilder promotion is also $76 if you open a new account today.  Like the Orange checking offer, the ShareBuilder bonus is only open to new customers.

The promotion is for Individual, Joint, and Custodial accounts but doesn’t apply for IRA or Education Savings Accounts.  Your $76 credit will be deposited into your ShareBuildr account 4-6 weeks after you make the first trade in your account.  You’ll need to make your first purchase by the end of the year to qualify for the bonus.

Like the Organe Checking offer, there is no special promotion code, just open the account today to get the bonus.

Posted on July 2nd, 2010 in Banking, Deals, Investing | Comments Off on ING Direct Promotion Holiday

Written by Ben Edwards · Filed Under Banking, Deals, Investing 

10 Cheap Kids Birthday Party Tips

Looking to save money on your kids birthday party?  Yesterday my co-worker was bemoaning the cost of his girl’s birthday party, apparently his wife went a little overboard and could have used a few tips on cheap party ideas, so I decided to share a few from the recent Star Wars birthday we put on for our son.

We didn’t actually set out to save money on the party, our house is on the market so our main concern was keeping it clean over the weekend.  However, some of the things we did as a result ended up saving us money!

Birthday Party Location

1) Don’t Pay to Party

We knew we didn’t want to host the birthday party at our house so we could keep it clean, however, the cost of renting a place to have a party was more than we wanted to pay.  We ended up going to a local park, keeping the messy kids fingers off the furniture & windows but not having to pay to rent a birthday spot.

One thing to keep in mind if you have birthday party at the park is to pick a park or a spot in the park that’s close to cover in case it rains and has some nice trees to shade the kids and parents from the hot sun.  Another plus is a spot that’s close to a parking area so you don’t have to lug your stuff too far.

Birthday Party Food

2) Don’t Buy a Cake

The birthday cake is usually at the center of a child’s birthday, what’s a party without cake & icing right?  However, the cost of cake can also eat up a big part of your kid’s birthday budget.  Baking your own cake can save you some money, it’s definitely cheaper than buying it from the store.  If your kid wants a fancy themed cake that’s beyond your icing skill level, one option is to buy some themed decorations from a site like Etsy and use those on top of the cake.

3) Celebrate with Cupcakes

Another tip that can save you a little more is to make birthday cupcakes instead of a full cake. This means you don’t have to buy plates and utensils for the kids since they can just eat the cupcakes with their hands.  We did this since we were going to be at the park and it meant less stuff to carry, but it also saved us some money as well.

4) Serve Snacks, Not a Meal

 Your food costs will also be impacted by the timing of your child’s birthday party.  If you schedule the party for dinner time you’ll spend a lot more on pizza, burgers, or whatever you buy or cook up.  Set the party for after lunch and before dinner time and you’ll save money on birthday party food.

5) Buy Food in Bulk

When you’re buying for a big group you can usually save money if you buy in bulk.  We used our Costco membership discount to buy water, soda, and Capri Sun’s for drinks and a variety of snack foods.

Birthday Party Supplies

6) Save on Balloons

For our boy’s birthday party, it wasn’t really a party in his mind until there were balloons.  If you buy the themed balloons (with their favorite Disney character) those can get pretty expensive.  Instead, we stuck with solid colors and let him pick the colors of the balloons he wanted. 

We decided he could get as many balloons as years he was old; four big helium balloons from the supermarket flower store only set us back $5.  If you don’t want to spend the money on helium balloons, for the same price you could also buy several packages of regular balloons and blow them up yourself.

7) Avoid Party Store Prices

Another way you can save on birthday party decorations is to buy them from other crafty parents instead of party stores.  We found some cool and cheap star wars decorations for his party on Etsy.

Birthday Party Games

8 ) Make Your Own Party Games

birthday party games

Rather than buying games to keep the kids busy you can come up with your own birthday party games.  For example, instead of spending money on the classic “Pin the Tail on the Donkey”, my wife made her own “Pin the Light Saber on Yoda” game.

Neither of us are great artists but she found instructions online on how to draw Yoda, a character from the Star Wars movies.  Trying to draw something like that from scratch probably wouldn’t have turned out very well but the website she found gave detailed step-by-step instructions on how to draw each part of little Jedi.

She got out a big blank piece of paper and after about 15–20 minutes she had drawn a life-sized Yoda. Then we cut light sabers from green construction paper, one for each kid.

Yoda was was taller than all the kids at the party, we taped him to the top of a card table, leaned it up against a tree, and the kids played “Pin the Light Saber on Yoda”.

Birthday Party Favors

9) Make Your Own Party Gifts

birthday party gift

We spent money on putting together birthday gift bags for the kids but it turns out we didn’t really need to thanks to a cool Star Wars party gift idea my wife found on the web. 

We bought foam noodles, cut them in half, wrapped the bottom in duct tape and each kid had their own foam light saber.  There were several different colors to pick from, each kid got to choose which color they wanted and we wrote their name on it with marker.

The light sabers were a huge hit, they kept the kids entertained the whole party, chasing each other all around the park.

Not only that the kids got to take them home to play with after the party; we later found out that one little girl liked it so much she wanted to take her light saber to bed with her that night.

10) Make Your Own Thank You Card

You don’t have to buy thank you cards to send out after the birthday party.  We had our son make the cards himself, not only did it cost less it was a little more personal.  He can’t write yet so he just colored on some paper and my wife wrote a little note on the inside. 

Saving money on a birthday party doesn’t mean that it won’t be fun for your kid.  It might be a little more work for you but they’ll have just as much fun and you’ll have a smaller credit card bill.  Obviously some of these tips will save more than others but all together they can save you a lot of money on your kids birthday party.  Enjoy the party!

Posted on June 30th, 2010 in Family, Personal Finance | 13 Comments

Written by Ben Edwards · Filed Under Family, Personal Finance 

Got a Case of the Mondays?

Monday’s can be tough because you have to get back into the work routine after the weekend.  Many people don’t look forward to Mondays because it means you have a whole work week ahead of you.  Although Monday mornings can be toughh, you can also look at Mondays as a fresh start, a chance to get the things right that went wrong last week, or a chance to do the things you didn’t get to.  Here are some good money links to start off your week, happy Monday!

Career

Investing

Insurance

Real Estate

Frugality

Posted on June 28th, 2010 in Personal Finance | 3 Comments

Written by Ben Edwards · Filed Under Personal Finance 

What’s the Best Way to Buy Auto Insurance?

You can buy auto insurance from three different sources, all of which have their own strengths and weaknesses to consider when comparing your car insurance options.

Auto Insurance Brokers

One way to buy auto insurance is to use an insurance broker, also known as an independent agent.  These brokers or agents are licensed to sell insurance in your state and work with several different insurance companies.   Since they have contracts with different insurance companies there’s less chance they have a vested interest in selling you a policy from one particular company.

The independent agent does the research, communicates with insurance companies for you, and gives you car insurance quotes from various competing insurers.  The benefit of using an independent agent is that you get access to their expertise in selecting and buying insurance.  They get to know your specific situation, recommend coverage that would fit you best, and find you an appropriate policy at one of the insurance companies they have contracts with.

Of course getting personalized advice from an independent agent usually results in a higher insurance premium.  Some brokers will charge you a fee for their time.  Even if there’s no fee, they earn a commission from the insurance company and their referral can be priced into your premium. If you use an independent agent, ask if they’re certified by the Independent Insurance Agents of America or the Professional Insurance Agents (PIA).

Captive Insurance Agents

Captive agents work with only one insurance company so they can’t give you car insurance quotes from around the market.  On the other hand they really know the ins and outs of the policies of the company they represent.

Unlike independent brokers, captive agents usually get support from the insurance company they work with.  Typically this cost savings transfers on to you in the form of lower premiums than you’d pay with an independent agent. However, keep in mind that captive agents can’t shop around other insurance companies for the cheapest insurance.  What they can often do is offer you discounts if you decide to buy multiple types of insurance from the same company.

Basically, the benefit of a captive agent is that you get the experience of the agent’s advice and guidance at a cost that’s lower than working with an independent agent. Here are some insurance companies you’ve probably heard of that offer the ability to work with an agent:

  • State Farm
  • Travelers
  • Allstate

Direct Writers

A direct writer is an company that lets you buy insurance directly without going through an agent.  You can either call them up and talk with a customer service rep on the phone or you can research your car insurance online on their website.

Buying car insurance directly is a different experience than working with an agent.  Since insurance companies don’t have to pay agent commissions or support costs they can offer lower rates so buying direct can be a good way to get cheap car insurance.

Since it’s up to you to compare car insurance rates, many times the direct writer offers an extensive website where you can get online insurance quotes and research your options yourself.

Of course you don’t get to talk with an agent about your needs, which some people feel more comfortable with. However, if you know which type of insurance and the amount of coverage you need then direct writers can be the fastest and least expensive way to buy insurance.

Here are some companies where you can research and choose your own auto insurance:

  • GEICO
  • Progressive
  • 21st Century
Posted on June 23rd, 2010 in Insurance | 2 Comments

Written by Ben Edwards · Filed Under Insurance 

Gas Credit Cards Q&A

Here’s a review of a variety of questions people have had about rewards and saving money with gas credit cards.  The one about registering for gas for a wedding gift was my favorite!

Can a gas card save you money?

If you get a gas card with no annual fee then it should save you some money even if you only use it occasionally.  The gas rewards card isn’t costing you anything and it’s earning you rebates on your gasoline.  Of course the card you choose and how you use it will determine how much money it saves you.

Can anyone get a gas credit card?

You have to get approved for a gas credit card, just the same as you do for any other credit card.  A bank wants to know that you’re likely to payback the money you charge on the card.  You’ll have to fill out a credit card application and the bank will check your credit history before they decide whether to issue you a card.

Do I need to keep my gas receipts?

I’ve never used or heard of a gas rewards card that required you to keep your gas reciepts.  That’s one of the benefits of the digital nature of a credit card, all the transactions are automatically recorded by a computer somewhere.  You can login whenever you’d like to see a history of your purchases and any gas rebates that you’ve earned.  The company that issued you the card uses that same data to determine how many reward points you’ve earned.

Can I use a gas credit card anywhere?  Can I only purchase gas with it?

The real question isn’t where you can use the card but where do you get rewards for using the card?  Most of the credit cards that offer cashback for gas will also give some cashback for other purchases.  However, if you’re earning 3% or 5% on gas but only 1% on everything else, you might want to use the card just for gas and use a different rewards card for other purchases.

If you’re using gas cards from companies like ExxonMobile, Chevron, BP, Shell, or Conoco you’ll want to read the terms and conditions to see if it’s just a gas card or if you can use it for other purchases.

Can a college student apply for a gas credit card?

Students can apply for a gas card but if you have a limited credit history you might not get approved.  Be sure to check out common college student credit card mistakes and avoid them. Some companies do offer student versions of their cards:

  • Citi Dividend Platinum Select Visa
  • Citi mtvU Platinum Select Visa
  • Citi Forward

    • Can you register for gas for your wedding?

    Sure, that’s not a bad idea, you know for sure you’ll use the gas gift.  One easy way to do it is to ask for a gift card from a store like Hy-vee (regional) or Costco (national) that sells gas and groceries so you can use it for both. 

    I carpool, will a gas card still save me money on gas?

    Carpooling is a great way to cut your gas bill and to help the environment, so way to go.  Of course when you carpool you still drive some of the time and using a gas card for those trips will save you money.

    What’s the best card for gas rewards?

    The best gas credit cards are the ones that give you the most cash back for each dollar you spend on gas.  Of course there are several different cards that offer similar rebates and each has it’s own strengths and weaknesses.  It also depends on how much money you spend on gas each month and how you use the card.   For more detail on the cards available you can check out gas rewards card review.

    Posted on June 22nd, 2010 in Credit Cards | 3 Comments

    Written by Ben Edwards · Filed Under Credit Cards 

    Best Gas Credit Cards

    The best gas credit cards can take a bite out of your travel bills this summer.  One of my tips earlier this week on preparing for a roadtrip was to take a gas saving credit card along with you.

    I’ve gotten some questions about the best ways to take advantage of gas rewards cards and how to choose the best gas cards so today I’ll look at the top gas credit cards and one day next week I’ll answer a variety of questions about the best way to use them.

    Blue Cash from American Express

    Blue Cash Gas Cash Back

    The Blue Cash card is one of my favorite all around rewards cards; below is a snapshot of our cash back earned year to date from our card.

    American Express has updated the card so you no longer have to spend a minimum amount to earn the higher cashback.  They actually have two versions, the Everyday card and  the Preferred Card.  The Blue Cash Everyday has no annual fee and pays 2% cash back at the pump, the Blue Cash Preferred charges an annual fee and pays 3% back on gas.

    Since it pays a high cash back rate on groceries and drugstore purchases in addition to the gas rebates, the Blue Cash card is a great option for a gas credit card.

    american express blue cash gas rewards

    Blue Cash

     

     

    Anyone can use the two cards above to earn gas rewards; now I’m going to look at two other options that are great gas credit cards if you qualify for them.

    PenFed Platinum Cash Back Rewards Card

    The PenFed Visa Platinum card offers 5% cash back on gas purchases so it’s a great gas credit card if you qualify for it.  It also pays 2% for supermarket purchases and they pay out your cash back every month.

    PenFed offers several different credit cards to members of the Armed Forces, veterans, and some government workers.  I go into more detail on who can qualify in my review of PenFed rewards credit cards. If you can get the PenFed Visa Platinum card, it’s one of the best gas rewards cards.

    PenFed Visa Platinum

     

    True Earnings from American Express

    true Earnings

    The True Earnings Card from American Express and Costco earns you 3% cashback on gas purchases for the first $3000 annually (1% after that).  You can also get 2% cash back at restaurants and 2% on travel; but unfortunately you need to be a Costco member to have a True Earnings card.

    If you already have a Costco membership then True Earnings is a good card but if you’re not, does it make sense to become a member simply to get the card?  It really depends on what you would buy at Costco and if the savings would make up for the annual membership fee.

    American Express is running a True Earnings promotion where you get a $25 statement credit after your first purchase, which can help offset the cost of membership. Whether you already are a Costco member or decide to become one, the AmEx True Earnings card is good gas credit card option.

    Amex True Earnings

    Other Gas Rewards Cards

    The next two cards all offer a 5% cash rebate on gas but there are some limitations on when you can earn the 5%.

    The Discover  card has offered 5% cashback on gas in the past.  This card has a revolving rewards structure where different categories of purchases earn you cash back at different times of the year.  Keep your eye on the rewards categories to see if you can save any when you use your Discover  card.

    With the Chase Freedom card, you also earn 5% cashback on gas in the summer months.  Comparing Chase Freedom vs Discover , both cards have a similar revolving rewards program and they both offer their 5% cash rebate in the summer. Probably the other most widely used categories would be drug store purchases in the spring and grocery purchases in the winter with the Chase Freedom card.

    Gas Rewards Summary

    So here’s a summary list of all the gas credit cards we’ve covered.  I’ve indicated the different rules each one has about earning maximum gas rewards:

    Posted on June 21st, 2010 in Credit Cards | 3 Comments

    Written by Ben Edwards · Filed Under Credit Cards 


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