Milenomics ² Podcast - No Annual Fee Edition

Robert: Amex has been ratcheting up the complexity on their offers and benefits. Partially due to covid, wanting to retain customers, and wanting to maintain and build engagement. The gamification of Amex is in full swing. Sam: These credits are not free money, and they’re definitely not always easy as we’ll discuss today... For each of these let’s discuss: The PromiseThe ProblemsPossible solutions 1:39 Amex Offers: Slow Posting Early February credits, across the board/on a number of fronts, were very slow to postTPG: “Here’s why you shouldn’t worry” (link)Response: Here’s why slow posting credits are worrisome…The T&Cs are convoluted, lengthy and full of gotchas. Ex: Home Depot off that was only online (who normally shops at Home Depot online?) and GCs are processed through a 3rd partyWhen credits don’t post quickly (when they otherwise have tended to historically) it creates confusion whether fine print was missed.All this said: Things seem to have improved more recently across the board after a miserable early Feb stretch. 8:40 PayPal $30/mo on Amex Personal Platinum Through June 2021 T&CsEarly Feb Hiccup-- What to do when credits don’t post? P2P vs merchantsGC reselling angle?Potential Clawbacks for returnsSeems stackable with things like Saks 13:00 Uber Credits T&Cs$15/mo for Personal Platinum$10/mo credit for Personal GoldCombining credits from multiple cards (spousal/friends as well)Velocity limits when adding cardsMoving cards from one Uber account to another 18:31 [Targeted] $200 Amex Travel Platinum Offer Exploration We’ve been talking about this a lot latelyRobert posted the T&C last week (Which don’t show anywhere online) The pages describing this online make it sound like it is offered to all--and not targeted. I set out to test that this week. So I booked a $210 ticket on Amex Travel with my recently renewed Platinum.Nothing happened.  (Smoke)So I chatted and pointed Amex to the TPG article (link which points to a DoC article that refers back to a rumor article from DoC)The missing T&Cs (only visible to those targeted) 24:29 Ongoing Credits Keep in mind this all is on top of…Dell Credits on Biz PlatSaks Credits on Personal PlatAirline Travel CreditsDining credits on co-branded personal cardsWireless credits on co-branded business cardsDiscuss: Do we work for Amex? Robert: “Thanks for joining us for this week. For a more in-depth discussion about points miles visit us at patreon.com/milenomics. There you’ll get a specia

Robert chats with Robin Hutson from Luxe Recess about luxury family travel trends, blending points & miles with a trip booked through a full-service travel agency, and where families are going in Florida in addition to Disney. 0:30 Travel Planning Picking Up 1:15 Luxe Recess LuxeRecess.com Origin story What Luxe Recess is/isn't Robert's articles on Luxe Recess What are the defining characteristics of “Luxe” to you? And how does that play out in travel as we [hopefully] emerge from Covid? See: 12 Luxury Berkshire Vacation Rentals To Escape It All 16:50 Points & Miles I know you’re familiar with the points & miles/credit cards game. What’s the view from “outside” the space on this game we play? I’d be interested in any insights you have personally and/or working with clients. What’s in your wallet? Blending points & miles usage with a trip planned through a full-service travel agency Flat-fee destination planning 24:40 Disney and Florida I’m assuming Disney is the No 1 destination for your readers?  Not anymore. Florida in general. What are the next most popular destinations/activities? See: The Best Luxury Florida Resorts For Families See: The Best All Inclusive Family Resorts in the USA Favorite Disney World resort hotel? See: The Cabins at Copper Creek, Disney Wilderness Lodge Favorite Disney World restaurants? Wine Bar George at Disney Springs Other Disney parks/cruises/activities you’ve enjoyed or are interested in exploring? Star Wars: Galactic Starcruiser at Disney World See: Luxury Disney World on Luxe Recess 38:30 Discuss: The points & miles crowd seems to be a lot more men than women. But it’s the opposite in the family travel space. I wonder why that is when the goals are similarly aligned. What are your thoughts on that? Where can listeners find Luxe Recess? LuxeRecess.com Luxury Family Travel Facebook Group LuxeRecess on Twitter LuxeRecess on Instagram Flusterclux: For Parents Who Worry Podcast Our thanks to Robin for coming on the show. Looking for more points & miles discussion? Visit us at patreon.com/milenomics to subscribe to the entire Milenomics Podcast Network with hours of new content each week. L'età non è l'unico fattore che influisce sulla virilità. Non si può discutere con il tempo, è più forte di noi, ma ci sono regole che si possono

I received an offer via email the other day for a wine-focused rewards credit card I've been monitoring for a while, the Grand Reserve World Mastercard. They've temporarily bumped the welcome bonus on the card to 75,000 points (worth around $450 towards wine and accesories) so I reached out to Grand Reserve Founder and CEO Matthew Goldman for a chat on the podcast. Besides the points & miles stuff we talk about here on Milenomics, I've written a wine blog since 2008. So it feels like this program is right in my wheelhouse. Grand Reserve World Mastercard Heightened Welcome Offer: 75,000 points for spending $3,000 in 90 days [expires at midnight 1/27/2021, not an affiliate link]Standard Welcome Offer: 50,000 points for spending $3,000 in 90 daysAnnual Fee: $0 for the first year, then $1495x at more than 400 wineries, wine clubs, and other Grand Reserve Partners3x at any winery, wine club, wine or liquor store3x at any restaurant or bar, take-out & delivery included2x points per dollar everywhere elsePoints are worth about 0.6 cents each through their Rewards Catalog or when redeemed for wine The card is issued by Utah-chartered Celtic Bank. They pull Experian. For what it's worth, I lobbed in an application this morning and was instantly approved. 0:30 Grand Reserve Overview Tell us about your background, the program, the credit card and the idea behind Grand ReserveWhat does it take to launch a credit card? 9:55 Psychology of Rewards Travel seems to have an irrationally strong appeal to [some] peopleEven if some would be better off with cash back the idea of rewards being “free” seems to absolve some people of the guilt associated with splurging on themselvesAdditionally we talk a lot about the “co-branded paradox” whereby people think “I like <brand>, I should get their co-branded credit card!”Are similar forces in play here? People like to splurge on wine but don’t want to feel guilty about it? So it has a similar draw as travel? 20:30 Point Valuation So many credit card rewards programs have points, and it’s hard to discern what they’re worth until after you’ve signed up for the cardWhat considerations went into determining the value of rewards on the redemption side?What are points actually worth and how do redemptions work? Thanks to Matthew for coming on the show. The #wine channel on Milenomics Slack is surprisingly active sharing deals and recommendations. Check it out if you're not already subscribed...

We're back today with a show we've talked about recording for some time now. The topic of booking travel in 2021 is a unique one because this is a very unique time in travel, miles and points. Spurred on by cancellations last year by both of us, large travel bank balances, and plenty of want for travel we talk about our best practices for booking in 2021. Feel free to comment below with your best practices, and thanks for listening. For more great podcast content check our Patreon page out. 0:28 Amex Business Platinum 110,000 Available Through Referral Long-time credit card enthusiasts have likely had this already but if you’re newer to the game this is a pretty terrific offer$15,000 spend in 3 monthsContains lifetime languageAmex hinting at enhancements to the business cards still to come 4:00 Staples: Fee-Free $200 VGCs Sunday 1/17 - Saturday 1/23/2021 (HT GC Galore) 4:51 AA/JetBlue Partnership (Press Release) “book a single itinerary on either website”“American will upgauge aircraft and by the end of 2021 will operate all service out of New York with first class.”“JetBlue plans to significantly expand its service at New York LaGuardia Airport (LGA), as well as further expand in other NYC airports and in Boston.”“Flights touching New York or Boston from either JetBlue, American or connecting combinations of both will be bookable on jetblue.com and aa.com in the coming weeks.”Reciprocal loyalty benefits Later this year, customers of both JetBlue’s TrueBlue and American’s AAdvantage® programs will be able to enjoy reciprocal benefits, including the ability to earn and/or redeem points or miles on either carrier making both loyalty program even more valuable. The airlines are also exploring opportunities to recognize JetBlue Mosaic customers and American’s AAdvantage elite members across both airlines. More details will be announced to loyalty program members later this year. 8:56 Main Topic: Booking Flights in 2021 Seeing some really affordable airfare in 1H2021Airlines always price empty planes lower as the date draws nearer, and with business travel still largely suspended routes are still being jockeyed around to cater to the only travel still occurring.Airline pricing models seem to be stressed by this. You’ll see $19 one day, $900 the next for the same flight.Tempting to book on the off chance it might be advisable to travel, but cancellation fatigue is setting inThat said, cancellation terms have never been more favorableAvoid booking with difficult to cancel currenciesBe familiar with the restrictions of various airline travel banks, and be mindful of tying too much in a program with narrow utility to youPrioritize currencies. Use ones prone to spoiling first. Then most specific utility to most flexible.Travel bank/expiring certific

We're back with a packed No Annual Fee episode of the podcast. Let's get right into it... 0:22 2021 Amex Perks/Offers (Summary from Amex) Personal$30 PayPal Credit Per Month (no activation required)[Targeted] $50 back on $50 at Best Buy (use twice, activation required)[Targeted] $50 back on $50 at Home Depot (use twice, activation required)BusinessAdditional 4x on Gas, Office Supply, Wireless, Advertising, Shipping (capped at $20,000 in spend through 6/31/2021, activation required)OtherHints of 20% discount on airfare through MayHints of co-branded card enhancementsNever has so much thought been put into limited time enhancements to credit cards. They’re keeping busy over there.All About Amex in 10 Minutes 14:22 Virgin Atlantic Devalues for Delta Award Redemptions (Thrifty Traveler) Used to be a nice way to pay for Delta First on domestic routesEx: Was 22,500 now 40,000Similarly negative for Delta international premium cabins 18:45 Things to do in the New Year Q1 2020 5x CategoriesChase FreedomWholesale ClubsInternet, Cable, & Phone ServicesSelect Streaming ServicesCiti DividendAmazonStreamingDiscoverGroceryWalgreens, CVSDon't Compare Your Earn Rate to OthersGet to work on 5x categories and BofA Cash RewardsAir IncidentalsAmex Credits If you like the No Annual Fee show you'll love a subsiption to the Milenomics Podcast Network. Patreon accepts PayPal so you can use the $30/mo Amex Personal Platinum PayPal benefit discussed in this show towards a subscription to the full Milenomics Podcast Network (including Slack access and more): patreon.com/milenomics

On today's podcast I chat with Bram Berkowitz to discuss investing in mutual savings banks. I first became familiar with the topic from an excellent article he wrote: See: How The Average Person Can Make A Lot Of Money Investing In Mutual Savings Banks 0:00 Background and intro 2:10 The basic pattern of mutual banks offering pre-IPO shares to account holders, a potential run up and second bump 3 years later Recent example: $EBC 10:10 How to identify future candidate banks? 12:45 Is this opportunity nationwide? Or more prevalent in MA? Links mentioned: FDIC Mutual InstitutionsAmerica's Mutual BanksBankInvestor.comThe Zen of Thrift Conversions: How To Turn Hidden Bank Stocks Into Big Gains You can find Bram's work on The Motley Fool and follow Bram on Twitter @BramBerko My thanks to Bram for appearing on the show

On this week's "No Annual Fee" podcast we discuss... 0:25 Amex Personal Gold/Platinum Offers through Resy (HT DDG) Direct Link to offersPersonal Gold has standard characteristics (60k welcome bonus, $4k min spend, $250 fee) plus20% back at restaurants first year up to $250 backPersonal Platinum has standard characteristics (75k welcome bonus, $5k min spend, $550 fee) plus20% back at restaurants first year up to $300 back10x on Gas and Supermarkets up to $15,000 spend for 6 monthsOffers do contain lifetime languagePlatinum offer is even better than even a 25k referral, right?But maybe not as good as a +3x referralWorth a shot to see if you get the pop-up?See also: Episode 44 All About Amex 4:25 Chase Ink 75,000 Ultimate Reward Offers Ink Cash 5x at office supply capped at $25k/yr (HT DoC)Ink Unlimited 1.5x everywhere (HT DoC)$7,500 min spend in 4 months$0 AF cards 6:10 Chase United MileagePlus Explorer 70,000 Offer Direct Link60,000 for $3,000 in first 3 months+10,000 for for additional $6,000 within first 6 months$95 AF waived first year 7:45 Chase UR: 30% Transfer Bonus to Avios Expires 12/9/2020HT MilesTalkIs this enough to give you pause over cashing out at 1.5 cpp? 9:45 Stop & Shop: $25 Grocery Voucher for $150+ 3rd Party GC Purchase Works for Best Buy, probably anything that’s not a VGC/MCGCPurchase 11/6-11/26/2020Coupons expire 12/2/2020Limit 1 $25 voucher per transaction (both on the purchase and the redemption)Sometimes these are capped at 10 uses per S&S account, other times not cappedAt sister store Giant, it’s 5x on 3rd party GCs (which I think I’d actually like more since the rewards are easier to use) 12:10 New Annual Subscription Option 10% off for a new yearly subscriptionGood option for those currently subscribed at $14.95Visit patreon.com/milenomics and select the "or save 10% if you pay annually" option If you like these free shows, we think you'll love the paid shows. They're longer and much more in-depth. We recently released Episode 100 where we discuss the origin story of Milenomics the blog, our Shop Talk series, and the Milenomics Podcast Network. This week on the paid show we'll be discussing: Good news/bad news for gener

Earlier this year we launched a podcast network, adding the Manifesto hosted by Gideon the Free-quent Flyer to the Patreon Feed. In this episode Gideon sits down with Kelly de Schaun, Chief Executive Officer of the Galveston Park Board. Enjoy this special episode, and if you're interested in even more great podcast content, check us out on Patreon. -- [0:00] Intro Original Galveston post: https://freequentflyerbook.com/blog/2015/6/14/galveston-tx-is-a-weird-place-to-take-a-vacationGalveston Park Board: https://www.galvestonparkboard.org/Beach and Park Operations: https://www.galvestonparkboard.org/157/Beach-and-Park-OperationsGalveston Island Convention Center: https://www.galvestonislandconventioncenter.com/ [2:37] Beach nourishment and replenishment Galveston Island geographyBeach recreational opportunities and economicsRelationship with Army Corps of EngineersDredging of Galveston ChannelHurricanes! [8:07] VisitGalveston.com  [9:07] Galveston’s history Indigenous populationPirates!Pelican Island Immigration Station (https://www.texascooppower.com/texas-stories/history/galvestons-immigration-station)African American history (https://www.galvestonhistorycenter.org/research/african-american-history)The 1900 Storm (https://www.1900storm.com/)Natural and economic historyBootlegging and bordellosCruise port [18:37] Tourism breakdown Summer is high seasonSecond homesExtended stays (work from home, remote schooling)Dune bashing and tailgatingPublic alcohol consumption (no glass!)Special eventsLone Star Rally: https://lonestarrally.com/Mardi Gras: https://www.galveston.com/calendarofevents/mardi-gras-2021/ [23:37] Status of AirBNB/VRBO Registration requirementsLocal contact (noise complaints)Compliance program [26:37] Seasons Make summer reservations earlyHaunted Mayfield Manor: https://www.galveston.com/whattodo/attractions/thrill/mayfieldmanor/ Pier 21:

Today we're doing 10 minutes on the podcast All About Amex. This post is a companion piece to that audio. The goal here is to describe the "quirks and features" (as Doug DeMuro would say) of American Express credit cards and their Membership Rewards program. Amex may not be as straightforward to interact with as Chase but if you take time to familiarize yourself with Amex it can prove to be a very valuable relationship. Card Limits Amex limits the number of active cards we can have with them. The number has changed over the years, but the current limits are: 4 credit10 charge Charge cards are the green, gold, platinum and plum cards (of which there are many varieties) that need to be paid off each month and have "no pre-set spending limit." Everything else is a credit card. This includes personal and business cards, but does not include authorized user cards. It's possible to have more than these limits if the cards were opened when limits were higher. Universal Referral Amex has the most generous referral program in the credit card space. See: All About Amex Referrals If you have an active Amex card you can refer friends and family for Amex cards. You'll earn a bonus for the referral if your friend is approved, and your friend can also get a welcome bonus for the card. To start the process visit: americanexpress.com/referYou can even refer friends for Amex cards you yourself don't have.The referral bonus depends on the card you're referring from. The welcome bonus your friend gets depends on the card they apply for. This creates some interesting opportunities since you can get a lucrative referral credit even if your friend applies for a lowly no annual fee card.Referral offers can sometimes be inferior to public or affiliate offers so be sure to verify you're referring for the best possible option.Through 10/28/2020 Amex is running an amazing promotion whereby qualifying referrals will get not only the referral bonus, but will earn an additional 3 points for spend on the card they refer from for three months: Three For All Promo Offers Vary Amex is known to display different welcome offers depending on location, cookies, whether you're on mobile or desktop, or whether you're browsing incognito. We call this the Amex Random Number Generator. As with referral offers, you'll want to make sure you're catching a welcome bonus that's the best currently available so if you don't see what others are reporting - keep trying until you do. Transfer Partners Amex Membership Rewards transfer 1:1 to a variety of airlines and hotel partners, most notably: AeroplanDelta SkyMilesANAAsia MilesAviaca LifeMilesSingapore KrisFlyerQantasBritish Airways AviosEtihadVirgin AtlanticHilton Chase's Ultimate Rewards program is perhaps more user-friendly with familiar US transfer partners like Southwest, United, and Hyatt. But Amex's partners can be quite valuable both for domestic travel and international premium cabins. Notable Redemptions Unlike Chase Ultimate Rewards, Amex Membership Rewards can not be cashed out directly for a penny a piece. You can use points to "Cover Your Card Charges" for 0.6 cents a piece (a very bad value). You can redeem

0:25 Stop & Shop Rewards can now be used for Groceries (Milenomics Slack) 1 point per dollar earned Redeem 100 points for $1 (1 cpp value)2,000 max per transaction (ie, max $20 off)Fuel Rewards is 100 points for $0.10/gallon up to 20 gallons (Up to 2 cpp of value if you can fill a 20 gallon tank)But how much gas can you realistically use?You need to log in to your account (on desktop or app) and opt in to GO Rewards. You can’t opt to go back into the old program, but the new program still allows you to redeem for gas so I don’t see a downside in opting in.Also check out Saverocity Observation Deck Ep 141 for more about Fuel RewardsAnd MSP Ep 7 on Kroger’s program specifically 4:10 Amex Offer: 10% Off Staples up to $40 Back (Milenomics Slack) Only on my account (business card) 5:20 iTunes GCs Can Now Be Used to Buy Apple Products (MacRumors) What effect does this have on resale prices? 7:40 Targeted Amex Personal Platinum $100 Back on $100 at Dell Great way to capture this is a buyers group 9:50 Park Hyatt Mallorca De-flagged (Milenomics Slack) Hotel isn’t set to re-open due to Covid until 2021The build quality is really incredible here, such a shame to see it wasn’t a financial success (perhaps even before Covid).Would you still seek this property out, once it’s an independent hotel?Less loyalty leverage, concerns about food & beverage quality (was so high before), and overall experience.Could rates and packages make this even more compelling as an independent hotel?Sweet Spots: The Most Seasonally Miscategorized Hyatt Hotels 16:30 7-Eleven to Acquire Speedway Stations (CNN) Sam: My bad!MSP Ep 6 on Speedway 19:50 Fee-free VGCs at Staples 8/2-8/8 (FM) Limit 5YMMV Want more podcast content? Head over to our Patreon page. There, you can subscribe and get a special link to listen to all three shows in the Milenomics Podcast Network in your preferred mobile podcast app. In Episode 87 of the Milenomics² Podcast we discuss: Heightened credit card welcome offersTightening approval standardsThe utility of Amex authorized users