caption Keith Rosso and his wife with their Tesla in California. Rosso’s points he got by buying the vehicle with his credit card are worth at least $5,000 in airfare and hotels. source Courtesy of Keith Rosso Keith Rosso, a writer and editor at the blog Million Mile Secrets, recently bought a Tesla Model 3. Rosso put the entire $58,857 purchase on his credit card using an app called Plastiq, which charges a 2.5% fee. Rosso used his Chase Ink Business Preferred Card, which earned him 180,000 Chase rewards points, equal to $1,800 in cash back or at least $5,000 in airfare, hotels, or car rentals. Keith Rosso and his wife saved up for over two years to buy a Tesla Model 3. With the vehicle’s starting price of $35,000, plus customization, Rosso knew it would be “the largest purchase of my life,” he recalled in a post on the credit-card-rewards blog Million Mile Secrets. But the … [Read more...] about A travel hacker snagged himself $5,000 of ‘free’ travel by using a credit card to buy a $60,000 Tesla
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By Ian Bickis The Canadian Press Mon., June 11, 2018 CALGARY—Credit card rewards can deliver great payoffs, but sifting through the points systems, introductory offers, shifting loyalty programs and fine print can make deciding what to put in your wallet a daunting task. Fortunately, you can at least narrow down the options in a few steps, said Janine White, vice-president of marketplaces at RateSupermarket.ca, a comparison website. The first step is an honest assessment of whether you’re having trouble paying off your bill every month, since cardholders who carry a balance should skip the rewards cards and find a low-interest option. If you’ve got a handle on your finances, a good next step is to decide if you want a points-based card or straight cashback. More and more people are choosing the simplicity of cashback, said Mary-Anne Huestis, co-owner of financial research firm MarketSense Inc. Article Continued Below “Cashback is a … [Read more...] about As competition heats up, Canadians have options for finding the best rewards credit card
source Matt Cardy/Getty Images For years, credit cards from JPMorgan Chase, Citigroup, and others have offered price protection, a benefit that refunds customers up to $500 if they buy an item and subsequently spot it cheaper somewhere else. Filing a claim was a laborious task, so few people ever did. Apps like Earny have emerged that use bots to automate the price-protection process, connecting with users’ email accounts to monitor purchases and hunt down refunds. Insiders say the rise of these tools and services has led to exponential growth in price-protection claims: “Nobody foresaw the onslaught of claims right now.” Citi recently revealed it would cut back on its price-protection offering, while Chase is planning to eliminate it entirely. Discover, which doesn’t work with apps like Earny, has cut other benefits but is keeping price … [Read more...] about For years, Chase and Citi credit cards offered a generous, under-the-radar benefit that protected customers. And then the bots arrived.
By Lisa Fu Bloomberg Tues., Feb. 27, 2018 NEW YORK—Millennials have been accused of disrupting many industries, from newspapers to brick-and-mortar stores. Credit cards appear to be next in line. Just one out of three millennials carries plastic, according to a Bankrate.com survey, compared to the majority of older Americans. In addition, a Fed survey found the 18 to 24 demographic preferred to pay cash more than others. And if they do carry a card, it tends to be of the prepaid or debit variety, TD Bank found. None of that bodes well for banks such as JPMorgan Chase & Co. or payment networks such as Visa Inc. and MasterCard Inc., since the fees they earn from debit card transactions are less than those earned via credit cards. The 2008 global financial crisis and ballooning college tuition may have also scared some millennials away. Read more: Millennials less knowledgeable on credit reports, study finds Article Continued Below Is your teen … [Read more...] about Millennials steering clear of credit cards could be driven by debt, experts suggest
Traveling to Cuba isn’t like traveling to other countries. While every country is unique, Cuba has an idiosyncratic culture influenced by decades of US embargo (known locally as El Bloqueo) and rule by the Communist Party. Tourists have been visiting the country for years, but it is only recently that Americans have joined the fray thanks to the reopening of diplomatic relations between the US and Cuba in 2014. With Trump threatening to undo the Obama-initiated re-opening of Cuba, I visited the island last year. By the end of my 10-day stay, I found that a few tips that I picked up both before leaving and while in the country were the difference between an excellent vacation and a travel disaster. 1. Be prepared to wait for everything If there’s one thing that Cuban culture might best be known for – aside from salsa music and cigars – it’s long lines. There are lines for everything: A line for a customs, a line for the bank, a line to buy … [Read more...] about There are 3 things you need to know before traveling to Cuba — and it will make or break your trip