From the One Mile At A Time blog come this bonus for Starwood Amex holders.    Until July 31st, you can get a 50% bonus on transfers to USAir’s Dividend Miles program.    The upside is that 20,000 SPG points can be redeemed for 37,500 Dividend Miles.   USAir has a less than sterling reputation as an airline, however their frequent flier program is one of the least devalued out there.   As the article points out, unlike United, they don’t block from partner award availability within the Star Alliance.    Furthermore, they have a relatively generous award chart.

Foreign Transaction Fees, Again

Looking forward to the  Credit Card Bill of Rights becoming effective next February, it is not hard to imagine ways that the credit card companies will try to create new fees and “enhance” others.    The most worthless fee out there is the foreign transaction fee.   Not only is this being increasingly applied to US Dollar transactions with foreign companies, (read here and here), but I am expecting them to increase.   These fees represent no cost for the banks, and provide no value for their customers, they are a pure scam.

The USA Today, which has an excellent travel section, has a rundown on foreign transaction fees that are charged by some banks.     It is far from comprehensive, leaving out the super duper Schwab Visa for example.   Nevertheless, it is easy to see how choosing one card over another can make a drastic difference in the price of goods and services overseas.    Lets say you are checking into your hotel for a week in Tahiti.    The bill is $1,500.   Part of you wants to pay with your Citi card and accumulate their Thank You points.    On the other hand, you have a Schwab card as well.    Choose wisely and you will save $75 dollars.    The Scwab card will give you a %2 cash back reward, while the Citi card will charge you 3% for the privilige of using your credit card outside the United States.   That is a 5% or $75 difference, worth far more than 1,500 Thank You points (which are worth about $15).

Yes money is important, but I harp on this over and over again because it is a pure scam, one of small yet growing number that have not yet been outlawed.   I am expecting banks to increase these charges dramatically next year, and there I will always keep a Capitol One or Schwab card with me when I leave the country, even if I never get to visit Tahiti.

Finally, Under Silly Things To Do With Your Credit Card…

Someone, somewhere thinks that it is cool to make a bracelet out of your old credit cards.    I don’t know why.    It is not very practical, and  can’t really say I find it attractive, but that is why I am the Reward Card Guru, and not the fashion guru.   But wait, there is more.   You also get instructions on how to tailor your old cards into other jewelry, such as rings and earrings.   These are the same people who are promoting dumpster diving, er.. scavenging for all sorts of your daily needs.   I am a frugal guy.  I  drive used cars and watch TV with an antenna, but I am not at the point where I do much scavenging.   Come to think of it, I did see some discarded building materials at a construction site the other day, I wonder if they are still there?

This entry was posted on Thursday, May 28th, 2009 at 20:00 and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.