Category Archives: Bank Of America

The Best Grocery Credit Cards and Why it May Not Matter

Posted on April 17, 2013 by | 47 Comments

[Disclosure:  Emily and I get a referral for the links to the Blue Cash Preferred, Blue Cash Everyday, Premier Rewards Gold & the US Bank Flex Perks card as of the post publication day.  You don't have to use our links, but we appreciate it when you do!]

Grocery Category Bonuses

Readers often ask what the best cards are for grocery purchases.  So I made a table of my favorite cards which give a bonus for buying groceries.  Please comment if you know of a better card for groceries!

Name
Grocery Bonus
Annual Fee
Other Bonus
Citi Thank You Preferred5X Points on Groceries Only For FIRST 12 MonthsNone5X Points on Drugstores & Gas Stations Only For FIRST 12 Months
American Express Blue Cash Preferred6% Cash Back (Up To $6,000 in spending per year) at Stand-Alone Supermarkets$753% Cash Back at US Stand-Alone Gas Stations
Blue Cash Everyday3% Cash Back (Up To $6,000 in spending) at Stand-Alone SupermarketsNone2% Cash Back on Gas & Select Department Stores Within the US
American Express Premier Rewards Gold2X Points at US Stand-Alone Supermarkets$175 (waived for the first year)3x Points on Airfare & 2X Points at US Stand-Alone Gas Stations
PenFed Platinum Rewards3 Points on GroceriesNone5 Points on Gas
American Express Hilton 5 Points at US SupermarketsNone7 Points at Hilton, 5 Points at Restaurants & Gas Stations
US Bank Flex Perks Travel Rewards2X Points on Highest Spending on Gas, Groceries, or Air Travel$49 (waived for the 1st year)3X Points for Charitable Donations
Barclays Sallie Mae5% Cash Back on 1st $250 per month in GroceriesNone5% Cash Back on 1st $250 per month in Gas & $750 on 1st $750 on books
Barclays Travelocity2 points for each $1 spent on any category you choose - gas, groceries or restaurant$395 Points for each $1 at Travelocity
BankAmericard Privileges3% on groceries - 2% cash back on groceries + 1% extra cash back if you redeem cash back into your Bank of America account.$75 (waived for the 1st year or with $50K in bank balance)4.5% on gas - 3% cash back on gas+ 1.5% extra cash back if you redeem cash back into your Bank of America account.
BankAmericard Cash Rewards2% on Groceries & 3% on Gas (up to $1,500 Combined Limit per Quarter)None3% Cash Back on Gas & 2% on Groceries (up to $1,500 Combined Limit per Quarter)

The Best Cards for Buying Groceries

I actually don’t go out of my way to use a specific card for groceries since I prefer to use my limited spending towards completing the minimum spending on new credit cards. Continue reading →

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Posted in American Express, Bank Of America, Penfed

Why Everyone Should Have a No-Annual Fee Credit Card

Posted on March 19, 2013 by | 55 Comments

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[Disclosure:  Emily and I get a referral for all cards in this post except for the JP Morgan Select, Ink Plus, Amazon.com, Amtrak, BP, AMEX Hilton, AMEX Blue, AMEX Clear, Citi Simplicity, Citi Dividend, Penfed, Pricline, BankAmericard & Club Carlson as of the post publication date. You don't have to use our links, but we're very grateful when you do!]

Additional Reading:

Having a personal credit card with no-annual fee which you will keep for a long time is very important for two reasons:

1.   Helps Increase Your Credit Score

According to the FICO website, 15% of your credit score is determined by the Length of Credit History.

Best No Annual Fee Credit Card

Fico Score Calculation (Image from MyFico.com)

So it helps to have a credit card with no-annual fee which you keep for a very long time because it helps increase the average age of your credit accounts.  This is especially important if you apply for & cancel cards frequently.

2.   Builds a Relationship With the Bank

Having a credit card with a bank for a long time also helps establish you as a long term customer with the bank.  I regularly let the folks on the reconsideration line know for how long I’ve had a credit card or checking account with their bank. Continue reading →

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Posted in American Express, Bank Of America, Barclays, Beginner Tips, Capital One, Chase, Citibank, Credit Scores, Discover, No Annual Fee, Penfed, US Bank

Credit Card Updates: 50,000 Miles Virgin Atlantic & 75,000 AMEX Business Gold(With Lower Spending [Now Expired]

Posted on March 14, 2013 by | 38 Comments

[Disclosure:  I do NOT get a referral for any of these cards.  The link to the American Express Business Gold card with 75,000 points is better than my affiliate link which currently does not have any sign-up bonus.]

1.   Bank of America Virgin Atlantic with 50,000 Miles.   Via Miles Abound, the 50,000 mile Virgin Atlantic card from Bank of America is back.  You get 20,000 miles after your first purchase, another 25,000 miles after spending $2,500 within 3 months, and 5,000 miles for adding 2 authorized users.  The card has a $90 fee which is not waived for the first year.

Bank of America Virgin Atlantic with 50,000 Miles

Bank of America Virgin Atlantic with 50,000 Miles

I’ve written about the card before, and despite the recent Hilton devaluations, I would still apply for the card and transfer the 50,00 Virgin Atlantic miles to 100,000 Hilton points.  You have to call Virgin Atlantic to transfer the miles to Hilton points and transfers take 2 to 3 weeks. Continue reading →

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Posted in American Express, Bank Of America, Virgin Atlantic

Credit Card Updates: American Express Hilton With 50,000 Points & Alaska Air Credit Card with 25,000 Miles + $100 Statement [Expired]

Posted on January 14, 2013 by | 39 Comments

[Disclosure: None of the credit cards in this post earn me a referral.]

1.   50,000 Point American Express Hilton.   Up to February 28, 2013, you can get 50,000 Hilton points instead of the regular 40,000 points with the no-fee American Express Hilton card.

I like having this card because it gets me access to discounted AXON awards.  Hilton points are usually very easy to earn since there are many different ways to earn them.

2.   25,000 Miles + $100 Statement Credit. 

Update:  Looks like the $100 statement credit offer is no longer working.

Million Mile Secrets reader Daron (thanks!) writes in with a link to an Alaska Air credit card.  Besides the 25,000 Alaska Air miles after approval, you also get a $100 statement credit after spending $1,000 within 3 months.  The card also has a $99 companion pass which is valid in coach.  The $75 annual fee is not waived for the first year. Continue reading →

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Posted in Alaska Airlines, American Express, Bank Of America, Hilton HHonors

How to Use The Wells Fargo Prepaid Card to Complete Minimum Spending Requirements & Load Bluebird

Posted on December 10, 2012 by | 101 Comments

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Update:  You can ONLY use Wells Fargo credit cards to fund the Wells Fargo Prepaid card after May 1, 2013.

Introduction

Credit card minimum spending requirements are always increasing. 

After Amazon Payments, prepaid debit cards offer some of the best ways to creatively meet credit card minimum spending requirements.  You can also use prepaid debit cards to generate spending to earn extra perks on credit cards.

Wells Fargo Prepaid Card

I wrote an eight part series on the perks of Big Spending on a credit card – from hotel elite status, bonus points, airline elite status to companion passes.  Check it out to see which perk matters the most to you and use that credit card when you fund your prepaid debit card.

However, do NOT use a Citi credit card to fund a Wells Fargo prepaid  card because it is coded as a cash advance which means high cash advance fees and interest.

how it works Continue reading →

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Posted in American Express, Bank Of America, Barclays, Bluebird, Chase, Citibank, Wells Fargo

Daraius’ November 2012 App-O-Rama – 6 Cards. 205,000 Miles & Points + 4 Free Hilton Nights (~200,000 Points)

Posted on November 27, 2012 by | 75 Comments

 [Emily and I get a referral for links to the Citi Hilton Reserve, Chase Southwest cards, the Barclays Frontier Airlines card, & Credit Sesame but not for the Bank of America Hawaiian Airlines card in this post.  We're very grateful to all readers who apply using our links!]

Emily and I set travel goals and we then collect miles and points to get to those   goals.  Our goals are quite simple.  We want to have enough miles and points to travel within the US in coach to visit friends and family and to have weekend getaways.

We also want to travel internationally 2 to 3 times a year – ideally in business or first class, but we’ll choose a flight in coach if it means less connections and more time on the ground (like we did when we visited Brazil during Carnival).

We also need hotel points since we have to stay somewhere.  We don’t really care which airline we fly or hotel we stay in as long as we can save money while traveling.  I’m partial to Hyatt because I’m a Hyatt diamond, but I won’t say no to free or cheap hotel stays.

Credit Card
Sign-On Bonus
Minimum Spending Required
Annual Fee
Total205,000 Points + 4 Free Nights$10,750 in 4 Months$496 Not Waived For 1st Year
Chase Southwest Premier Business50,000 Bonus Points$2,000 in 3 Months$99 Not Waived For 1st Year
Chase Southwest Plus Personal 50,000 Bonus Points$2,000 in 3 Months$69 Not Waived For 1st Year
Citi Hilton Reserve2 Free Weekend Hilton Nights (~100,000 Hilton points)$2,500 in 4 Months$95 Not Waived For 1st Year
Citi Hilton Reserve2 Free Weekend Hilton Nights (~100,000 Hilton points)$2,500 in 4 Months$95 Not Waived For 1st Year
Barclays Frontier Airlines35,000 Miles $750 in 3 Months$59 Not Waived For 1st Year
Bank of America Hawaiian Airlines35,000 Miles (Transferable to 70,000 Hilton Points)$1,000 in 4 Months$79 Not Waived For 1st Year

I applied for 6 credit cards the day before Thanksgiving and was approved for all of them after ~1 hour on the phone, so I had extra reason to be grateful on Thanksgiving.   In case you’re wondering, I have a ~12 year credit history and a credit score above 700.  This churn focused on domestic US travel and hotel stays. Continue reading →

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Posted in American Express, Bank Of America, Chase, Churning, Citibank, Frontier, Hawaiian Airlines, Southwest

American Express Small Business Saturday Registration Open – $25 per American Express Card!

Posted on November 18, 2012 by | 25 Comments

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Link:  American Express Small Business Saturday

On the Saturday after Thanksgiving (November 24, 2012 this year) American Express curries favor with small businesses by encouraging folks to shop at small businesses by offering a $25 statement credit for using an American Express credit card on a purchase of more than $25!

Registration is now open, so register all your American Express cards for the promotion.

I wrote more in about this promotion in an earlier post, but you can register your American Express credit cards, as well as those of authorized users since they have a separate card number. Continue reading →

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Posted in American Express, Bank Of America, Barclays, Citibank

How to Use The US Bank Visa Buxx Prepaid Card to Complete Minimum Spending Requirements & Increase Credit Card Spending

Posted on October 30, 2012 by | 49 Comments

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Introduction

Credit card minimum spending requirements are always increasing.  For example, you currently have to spend $10,000 within 3 months to get the full 50,000 Ultimate Rewards points sign-up bonus on the Chase Ink Bold or Ink Plus.

After Amazon Payments, prepaid debit cards offer some of the best ways to creatively meet credit card minimum spending requirements.  You can also use prepaid debit cards to generate spending to earn extra perks on credit cards.  

The US Bank Visa Buxx Prepaid Card

I wrote an eight part series on the perks of Big Spending on a credit card – from hotel elite status, bonus points, airline elite status to companion passes.  Check it out to see which perk matters the most to you and use that credit card when you fund your prepaid debit card.

However, be careful to avoid using Citi credit cards when buying a prepaid debit card directly from a bank because they usually code purchases from other financial institutions such as banks as cash advances which mean high cash advance fees and interest.

how it works Continue reading →

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Posted in American Express, Bank Of America, Chase, Citibank, US Bank, US Bank Visa Buxx

How to Book Virgin Atlantic Award Flights With NO Fuel Surcharges Using Hawaiian Airline Miles!

Posted on October 22, 2012 by | 19 Comments

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MileValue suggested that you may be able to book Virgin Atlantic award tickets with NO fuel surcharges if you use Hawaiian Airline miles.

I just booked a Virgin Atlantic Upper Class (business class) ticket, from Chicago to London, for a friend and did NOT pay fuel surcharges!  100,000 Hawaiian Airline miles and $298 for a ticket which costs ~$4,000+ isn’t too shabby!

I priced out the same trip in economy which cost 50,000 Virgin Atlantic miles and $196 in taxes and fees.

WHAT’S THE BIG DEAL?

This opens up another great use of Hawaiian Airline miles besides using them for flights to Hawaii on Hawaiian Airlines or transferring them to Hilton at a 1:2 ratio.

In fact, using Hawaiian Air miles is the cheapest way to experience a flight on Virgin Atlantic – either in economy, premium economy or in Upper Class.  Virgin Atlantic doesn’t have First Class, but their Upper Class gets good reviews.

For example, it costs 90,000 Virgin Atlantic miles (as opposed to using Hawaiian Air miles) and $1,127 in taxes, fees, & fuel surcharges for a round trip Upper Class flight using Virgin Atlantic miles from Chicago to London.

$1,127 in Fuel Surcharges When Using Virgin Atlantic Miles for Virgin Atlantic Flight

In contrast, my friend paid 100,000 Hawaiian Airline miles and $298 in taxes and fees of which $215 were UK air passenger duty for flying in business class – for booking the same flight on Virgin Atlantic by using Hawaiian Air miles!

Continue reading →

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Posted in American Express, Bank Of America, Hawaiian Airlines, Virgin Atlantic

Emily’s September 2012 App-O-Rama – 5 Cards. 170,000 Miles & Points + 4 Free Hilton Nights

Posted on October 4, 2012 by | 50 Comments

 [Emily and I get a referral for links to the Citi Hilton Reserve, Chase Ink Bold, American Express Business Gold Rewards and Credit Sesame in this post.  We're very grateful to all readers who apply using our links!]

Credit Card
Sign-On Bonus
Minimum Spending Required
Annual Fee
Total170,000 Points + 4 Free Nights$21,000 (or $11,000 for 25,000 Fewer Points)$269 Not Waived; $270 Waived
Citi Hilton Reserve2 Free Weekend Hilton Nights (~100,000 Hilton points)$2,500 in 4 months$95 Not Waived For 1st Year
Citi Hilton Reserve2 Free Weekend Hilton Nights (~100,000 Hilton points)$2,500 in 4 months$95 Not Waived For 1st Year
Chase Ink BoldCurrently 50,000 points after spending $5,000 within 3 months. (Used to be 25,000 Ultimate Rewards Points after 1st purchase; 25,000 after Spending $10,000 Within 3 Months)0Currently $5,000 within 3 months. (Used to be none for 1st 25,000 points; $10,000 within 3 Months for extra 25,000 points)$95 Waived for 1st year
Bank of America Hawaiian Airlines35,000 Miles (Transferable to 70,000 Hilton Points)$1,000 in 4 months$79 Not waived for 1st year
American Express Business Gold Rewards 50,000 Membership Rewards Points$5,000 within 3 months$175 Waived For 1st Year

Emily applied for 5 credit cards in September.  So far, she’s been approved for 4 cards for 120,000 miles and points + 4 free Hilton nights.  In case you’re wondering, Emily has a 6.5 year credit history. Continue reading →

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Posted in American Express, Bank Of America, Business Credit Cards, Chase, Churning, Credit Cards, Hawaiian Airlines, Hilton HHonors, Hyatt, Student, United Airlines, Virgin Atlantic