Stony Brook Alumni Association Rewards Visa

By: Mr Credit Card

04/12/2010

Summary: PartnersFirst and Stony Brook State University of New York have created the official visa credit card of the Stony Brook Alumni Association. This card offers a number of benefits and features as well as a rewards program for all alumni, friends and family of Stony Brook State University. We’ll take a look at some interesting facts about the university as well as the details of the credit card.

About Stony Brook State University

Stony Brook State University is located in Stony Brook, New York, founded in 1957 as one of the State University of New York’s four University Centers. It includes a 1,039 acre campus on the north shore of Long Island and a stadium and sports complex that seats 8,300. Stony Brook University Medical Center, the Health Sciences Center, and the Veterans Home – to Stony Brook Manhattan, a new Research and Development Park are also located at the University.

Interesting Facts

Stony Brook State University is ranked in the top 1 percent of all universities in the world by the London Times Higher Education World University Rankings and in the top 100 best national universities and top 50 public national universities by U.S. News & World Report. Kiplinger rated Stony Brook in the top 25 of 100 best values in public universities and the Wall Street Journal ranked them eighth with students that continue on to elite graduate programs.

Notable and Celebrity Alumni of Stony Brook

Laura Schlessinger – commentator of Dr. Laura radio show.
Sandy Pearlman- rock music promoter.
Joe Nathan- pitcher for Minnesota Twins.
Russell T. Lewis-CEO and President of New York Times Company.
Adam Klein- Opera singer.
Scott Higham- Investigative journalist for the Washington Post and winner of the 2002 Pulitzer Prize.
Joy Behar- Comedienne and talk show host.
Jeff Raskin- author and co creator of Macintosh Computer and Apple Computer, Inc.

Features and Benefits of the Partners First Stony Brook Alumni Association Rewards Visa

This credit card offers 0% APR on balance transfers for the first 6 months and no annual fee. The APR on purchases may be as low as 12.24%. There are also no over the limit fees or late fees as well as no liability for fraudulent purchases and 24/7 customer service. There are two Stony Brook University card designs to choose from.

Additionally, a portion of what you spend with the credit card will support Stony Brook scholarships and the Alumni Association as well as reunions, Homecoming and other events. There are credit lines available up to $250,000.00.

Rewards Program: Cardholders of the Stony Brook Alumni Association Rewards Visa receive 1% cash back on all purchases. Points can also be redeemed for airline travel with no blackout dates, merchandise and opportunities for unique experiences as well as valuable merchandise and gift cards from name brand retailers.

Conclusion: This credit card is a great way for alumni, friends and family to show their school pride, earn rewards and support the Stony Brook Alumni Association. With all of the benefits including the lack of “nuisance fees”, cardholders will be able to enjoy supporting Stony Brook University, simply by using their credit card and yet earning rewards at the same time.

Republican Party and Their American Express "Corporate" Card

By: Mr Credit Card

04/11/2010

Here is a nice little weekend rant.

The Miami Herald just posted an article about the $458,000 in credit card charges that was racked up by 3 Republican leaders. They are former House Speaker Marco Rubio, his now-indicted successor, Ray Sansom, and the man set to lead the chamber in November, Dean Cannon. These charges were made to American Express credit cards, which is the Republican’s credit card of choice!

The article went on to talk about how lavish some of these expenses were. But most of it was related to “fundraising expenses” – though they included some private jets to fundraisers, $1000 dinners and some expensive stays at 5-star hotels. The tone of the article was really about how lavish these expenses. And to a certain extent, it is correct.

Rather than being too pissed off with these politicians, I actually kind off understand their spending although some of it might be over the top. Being a former salesperson, I’ve been issued corporate business credit cards before. In fact, all the corporate cards I’ve been issued are from Amex! They seemed to have cornered this market. And I’ve taken business class flights, definitely stayed at 5-star hotels and had really expensive dinners. I think folks who have not been in the big corporate world will never understand this – but entertainment and building business relationships are key to winning business. In fact, the firm that I’ve worked for always say never cut back on entertainment. And I’ve know first hand and the more you entertain, the more business you get.

So rather than going off on these “Republican Officials” about their lavish spending, I’m more curious about some other stuff – like

Do individual Cardholders Earn Membership Reward Points? – Here’s something many folks may not realize. Amex allows companies to choose whether to let their employees earn membership reward points for themselves. For example, my first firm I worked for allowed me to earn membership reward points on my corporate card spending. Needless to say, I racked out lots of points (enough to earn me a few free international business class flights).

But the second firm I worked for also gave me an Amex business card. But I could not earn individual membership points for the things I charged to the card! That really pissed me off as an employee!

Yet, I know of some international government entities that issue Amex Business Cards and the points that the employees earn go to that entity and they have discretion as to how to use them. They can only envy at us folks who can rack up the miles!

In this case, I’m more than willing to bet that the individual Republican members can earn membership reward points (am sure they will give themselves this privilege!)

Why don’t the Democrats have a “corporate credit card”? – According to the article, the Dems raise less money than the republicans and they do not have any official “business credit cards”. I guess with Obama raising money through net, there is less need for “wining and dinning!” And perhaps after seeing the credit card statement leaks, they will be less incline to want to have any Amex Corporate Card in the future! (still it doesn’t mean that just because they have no corporate card means they are not as extravagant or lavish in their entertainment expense!). But if I were the Dems, i’d also have the party issue Amex Charge Cards and rack up some membership points myself since you have to pay their expenses anyway (better expense tracking!)

If I were Amex, I would be hounding them!

How dare politicians grill the auto makers for fly private jet when they themselves fly private jet! – you know what? I have no problem with politicians wining and dining for fundraisers and donations. Afterall, they need them to run their party. And having come from working with big corporations, I do understand how entertainment works in the business world. They best quote from the end of the article says “if you want to raise serious money, you can’t take donors to Burger King!”. But how hypocritical of politicians when they criticized the automakers’ CEO for flying private jets to their congressional hearing! They accused these CEOs of not running these companies to the ground and having the audacity to fly private jets when they themselves do the same! In fact, congress has run up so much debt in our country that they have not right to even bring that up. Just plain old grandstanding! Collectively, Congress has run up more debt than all automakers and financial firms losses combined!

In the corporate world, shareholders do not give a toss about entertainment expenses as long as management is profitable and delivers earnings growth. I guess in the political world, we as shareholders and board of directors have been pretty lenient on them! We let “politicians” get away with it even if the ink is RED!

So, hope this makes for a nice weekend read!

And while we are talking kind of politics here, check out my good friend Len Penzo’s post on whether low income drivers should receive subsidies to use toll express lanes

Orbitz Credit Card Review

By: Mr Credit Card

04/10/2010

In our last post, we talked about how you could actually save money on Orbitz if you booked your hotels, car rentals or pre-packaged vacations from them. Now, let us look at the Orbitz Credit Card.

Rewards – The Orbitz credit card allows you to earn 3 points for every dollar that you spend on Orbitz. You can earn unlimited points which do not expire. How you redeem points is a little unclear to me in the following way. One would think that with an affinity card like this, you could be able to redeem reward points for dollar amounts any time you book another trip on Orbitz.com. But on Capital One’s website, it says you could redeem it for travel, merchandise and cash back. Presumably, that means you do not have to redeem it by using Orbitz.com (which if correct is a good thing). As a reminder, Capital One’s reward program reward redemption formula is 100 points is worth $1 in travel rewards (ie 15,000 points gets you a free $150 ticket).

Other Features – This card also comes with the standard benefits.

Verdict and Opinion – I think will appeal to folks who travel quite a bit and only use Orbitz.com to book their travels (which is the people these guys are targeting at). But if you are a serious frequent flier and are also looking to earn frequent flier points for a particular program, then this card is not for you.

If you are considering this card, you should also know that you can also get 5% rebates with a Discover Card if you book any hotel, car rental or pre-packaged trip with Orbitz.com. I wrote this in an earlier post, but here are the screen shots again.

Clicking on the Orbitz icon takes you to the fine prints section.

Clicking on the start shopping button will take you to Orbitz site, where any bookings you make on your Discover Card will be tracked.

If you are always using Orbitz.com to book your travel, then this is a card you should seriously consider. But if you are the sort that checks out different sites for the best deals, then perhaps a card like the Discover® More® Card – $50 Cashback Bonus® would be better because you can take advantage of the rebates you earn when you want. Discover also has over 100 online partners that will earn you 5% or more in rebates and not just Orbitz.

Another card to compare with is the Chase Sapphire Card, which allows you to earn double miles when you book airline tickets with them. The Ultimate Rewards program from the card also allows you to use your travel agent to book and redeem points if you choose to do so.

AirBoss Rewards Visa Card

By: Mr Credit Card

04/09/2010

Summary: The PartnersFirst AirBoss Rewards Visa Card was specifically designed for AirBoss members and pilots and offers many benefits and rewards including discounts on aviation fuel at FBO’s (Fixed Base Operators which provide services to aviation aircraft and operators on or near airports) across the United States.

What is AirBoss?

AirBoss is a program that is part of AirNav that offers members discounts on fuel at participating FBOs. Membership costs $39 per year, but if you use your AirBoss membership number when you apply for the PartnersFirst AirBoss Rewards Visa, you will be reimbursed the $39 membership fee.

Once you become a member of AirBoss, you are issued a temporary card and are immediately eligible for discounted fuel prices. The card can be used for discounts on purchases of 100LL or Jet-A into any aircraft. You can also log in to the AirNave website to view your discounted prices and compare them to the retail prices.

Although the exact savings and discounts on fuel may vary, current discounts range from $0.05 and $1.15 per gallon, which is an annual savings of about $0.19 per gallon. All you need to do once you are an AirBoss member, is taxi up to any AirBoss participating FBO and order fuel just as you normally would.

How Much Do You Save With AirBoss?

If the fuel savings are approximately .19 cents per gallon annually and you use at least 1000 gallons per year flying, you will most likely cover the $39 annual fee just in savings. Another interesting detail included in AirBoss membership is that if within the first 6 months you are not satisfied (or perhaps don’t think you’ll save enough in fuel discounts) you can cancel the membership and receive a full refund. As stated before however, the annual fee is reimbursed when you apply for the AirBoss Rewards Visa Card anyway.

Benefits and Features of the AirBoss Rewards Visa by PartnersFirst:

With the AirBoss Rewards Visa credit card you will receive total fraud protection and 24/7 customer service in addition to the discounts that are available on aviation fuel for pilots. When fueling up, card members simply use their AirBoss Visa card and automatically receive the discounted price for AirBoss members. The card can also be used at selected self-service pumps for automatic discounted fuel as well. All AirBoss members can view prices on AirNav.com any time to get discounts at any FBO just by using the credit card.

Rewards: Cardmembers earn 1% cash back on all purchases including aviation fuel with no limit. Points can also be redeemed for airline travel, merchandise, unique experiences or gift cards.

Fees: No annual fee and an introductory APR of 0% on balance transfers for 6 months of card membership. The APR on purchases may be as low as 12.24%.

Conclusion: The AirBoss Rewards Visa credit card is a great card for AirBoss members and pilots with significant discounts on fuel. Even though you are eligible for the fuel discount just by becoming a member of AirBoss, if you have the Visa, you are reimbursed the annual membership fee that is required for AirBoss Members. Additionally, card members of the Rewards Visa credit card by PartnersFirst, will also benefit from being able to earn rewards for everyday purchases as well as the aviation fuel that is purchased with the card and can be redeemed for cash or a number of other rewards. So, with the Visa, not only do you receive the fuel discount, you will also be able to earn and redeem rewards for your purchases.

Neuroscience Takes On Cash Versus Credit

By: Jason Steele

04/08/2010

I came across two articles recently that look at peoples spending habits change when their method of payment changes between cash and credit cards.

Credit Cards Makes You Spend?

Most people feel that the use of credit cards makes it easier to spend money. The author of this article cites all sorts of neuroscientific journals that support that conclusion. It also makes intuitive sense that parting with physical cash takes much more consideration than merely signing a credit card receipt. As the author states: “When we something with cash, the purchase involves an actual loss – our wallet is literally lighter. Credit cards, however, make the transaction abstract, so that we don’t really feel the downside of spending money.”

On the other hand, I have always found that I spend more when I have actual cash in my pocket. I feel that cash spent is never seen or heard from again, while credit card transactions are reviewed and paid for at the end of the month. If I go past my statement closing date without making a necessary purchase, I feel that I will have that money for another month, while cash in my pocket seems to accrue no interest or reward points. I usually deposit any significant amount of cash I receive, in order to have it available when it comes time to pay my bills.

With that in mind, I read this article, also in a neuroscience publication, about an anecdotal finding that reached the opposite conclusion. Here, the author found that he was spending money as quickly as he could when he had cash. The key here is that the author pays off all of his credit card bills in full every month. For him, like me, credit cards are a method of payment, not a method of finance. Also, it seems clear that the documentation of the purchase inherent in credit card use is a powerful motivation to literally watch your spending.

Unfortunately, it would make perfect sense for most people to spend more when using credit cards, yet people who pay their balance in full ( a minority) find they spend less with their credit cards. People who always pay their credit cards in full have a direct relationship between their spending and their payments. By paying less than your full balance, you are creating a disconnect between your spending and your payments. Over the long run, you are of course paying far more for your purchases, but the pain is neither immediate, nor does it correlate with your monthly spending. Large purchases equate to only a few dollars a month more than if you had not made them.

In the past, I have compared credit card abuse to a substance addiction. I am not a neuroscientist, but it would not surprise me to find link in the brain behind the two behaviors. I think those who feel that cash is the solution to overspending might be surprised to find out what happens if they monitor their credit card spending and always pay every balance in full. Some may find the success that I and others have achieved, while others would feel like a recovering alcoholic working at a liquor store.

Husker Rewards Card

By: Mr Credit Card

Summary: PartnersFirst and the Nebraska Alumni Association launched the Husker Rewards Card which includes unique Husker memorabilia and experiences, cash back, airline miles and hotel nights for alumni, friends and fans of the University of Nebraska-Lincoln Huskers.

Fees: There is no annual fee for the Husker Rewards credit card and an introductory APR of 0% on balance transfers for the first 6 months of card membership.

Benefits and Features: New cardholders will receive a $50 statement credit when you spend $100 on purchases within 60 days of cardmembership. There are three University of Nebraska-Lincoln and Husker card designs to choose from.

Rewards Program: Cardholders can receive 1% cash back on all purchases and can redeem points for Nebraska experiences, merchandise and offers that are exclusive to Husker Rewards cardholders. For example, some of the offers that cardholders can take advantage of are annual and lifetime membership in the Nebraska Alumni Association, gift cards for the Huskers Authentic Team Store and officially licensed Nebraska clothing and accessories. Points can also be redeemed for airline travel with no blackout dates and gift cards for name brand retailers.

Additionally, a portion of all purchases made with the Husker Rewards credit card supports the Nebraska Alumni Association.

Conclusion: Nebraska Husker fans, alumni and family can carry a credit card that not only earns rewards on Husker memorabilia and opportunities, but on non Husker related items as well. Further, it is a great way to support the Nebraska Alumni Association and show their Husker pride at the same time, not to mention the $50 statement credit when you spend $100.

My Garage Rewards Visa Card

By: Mr Credit Card

04/07/2010

Summary: The My Garage Rewards Visa credit card by PartnersFirst combines benefits of being a member of the Mid America Motorworks while earning rewards from your credit card for everyday purchases.

What Is MidAmerica Motorworks?

MidAmerica Motorworks is located in Effingham, Illinois and provides parts and accessories for Mid America Motorworks offers parts and accessories for Corvettes and Air-Cooled Volkswagens and is “dedicated to auto enthusiasts”. My Garage is a museum that is part of MidAmerica Motorworks which includes unique Corvette, Porsche and Volkswagen memorabilia as well as a collection of classic Corvettes, some of which are also available for purchase. MidAmerica Motorworks has been in business for over 35 years.

Mid America Motorworks Fun Fest for Air-Cooled VW

Mid America Motorworks will host its 13^th Annual Fun Fest for Air-Cooled Volkswagens, June 4-5. This is a weekend fest located at the corporate campus in Effingham of activities and events with a 1960’s theme. Activities include Friday Evening Fun Run road tour and downtown party (June 3, 2011), technical seminars and Burnout Wars. Entertainment is also provided on Saturday. Registration ranges from $15 to $75 depending on the package you choose. There is also a Corvette Fun Fest and a Swap Fest as well.

Features and Benefits of the My Garage Rewards Visa: Cardholders of the My Garage Rewards Visa credit card receive the PartnersFirst benefits which include total fraud protection and 24/7 customer service. You can also customize your credit card with a photo of your favorite garage or car scene and add your Mid America Motorworks member number to the credit card if you choose.

Fees: There is no annual fee for the My Garage Rewards Visa card and an introductory rate on balance transfers of 0% for six months of credit card membership. The APR on purchases may be as low as 12.24%.

Rewards: You will earn 1% cash back on each purchase and double points on purchases made on merchandise or services with Mid America Motorworks from their website. Mid America Motorworks also offers a retail store and a catalog as well. Rewards can be redeemed for airline travel with no blackout dates, gift cards and opportunities for unique experiences.

Conclusion: This is a great card for those interested in or a member of Mid America Motorworks. Also if you happen to be shopping for parts, accessories and services that are related to the hobbies that involve Corvettes and Air-Cooled Volkswagen because you will earn double points on purchases made with your card from Mid America Motorworks. The My Garage Rewards Visa card gives auto enthusiasts an opportunity to earn rewards for not only everyday purchases double points for purchases made with Mid America Motorworks.

Executive Women's Golf Association Rewards MasterCard

By: Mr Credit Card

04/06/2010

Executive Women's Golf Association Rewards MasterCard® Summary: PartnersFirst and the Executive Women’s Gold Association have created the Executive Women’s Golf Association Rewards MasterCard for women that wish to “learn, play and enjoy the game of golf for business and for fun”. PartnersFirst worked closely with the organization to create a credit card program that would benefit its over 20,000 members from the United States, Canada and France.

Benefits and Features: Cardmembers will receive the benefits that PartnersFirst offers which include total fraud protection and 24/7 customer service, as well as an opportunity to earn cash back and rewards on every purchase that is made with the credit card.

Rewards Program: As a member, you will earn 1% cash back on each purchase and can redeem points for Executive Women’s Golf Association (EWGA) membership renewal or other items like airline travel, travel packages and golf and other merchandise.

Fees: No late fees or overlimit fees. There is also no annual fee and an introductory APR of 0% on balance transfers for 6 months of cardmembership.

Conclusion: If you are a member or interested in becoming a member of Executive Women’s Golf Association, you will be able to earn rewards points by just making every day purchases quickly and easily that will cover the membership fee in EWGA. Additionally, you’ll be able to take advantage of the exclusive deals and discounts on golf related merchandise, golf and social events and resources that include a free handicap index that the EWGA offers its members. Women that are interested in becoming a part of an association or that just want to be able to take part in a rewards program that includes golfing related merchandise and perks, will want to check out the Executive Women’s Golf Association Rewards MasterCard by PartnersFirst.

More On Zync

By: Jason Steele

04/05/2010

My friends at Amex had a chance to respond to my Zync Rethink post of last Friday. They have promised me that they are working to clarify their marketing materials to distinguish between the Membership Rewards program and the Membership Rewards Express program.

The Way They See It

According to the American Express official I corresponded with, the Membership Rewards “program is divided into three tiers- Membership Rewards Express (available to Zync Cardmembers), Membership Rewards (available to Green and Gold Cardmembers) and Membership Rewards First (available to Platinum and Centurion Cardmembers).” The “Express” option is geared towards merchandise partners and utilizes the Pay-With-Points program for travel rewards. The classic Membership Rewards [classic is my term] is the program we are all familiar with, while the Membership Rewards First program has all the award possibilities of the classic program, plus additional, high end, premium awards.

Amex wants me to point out that 10,000 MR points are still 10,000 MR points, but to the savvy reward card holder who likes to redeem points for travel, there is a huge difference. For example, 50,000 classic Membership Rewards points can be exchanged for an economy class award ticket from North American to anywhere in Europe on Swiss airlines. I don’t think you can find a transatlantic ticket on Swiss that normally sells for less that $500. This means it would be impossible to get less than 1 cent per mile in value on that reward. In fact, it would be pretty easy to find summer flights to Europe that cost around $2,000, giving a value of four cents per mile. The same would be true of the 50,000 point companion award ticket on South African Airways. As I understand it, neither of these options are available to card holders in the “Express” tier of the MR program. For travel, they only have the one cent per point pay with points option, which has less value potential than other redemption options like the ones I cited.

Who Is The Zync For?

The Amex people feel the Zync option is better suited to cardholders that value other award options beside travel. According to Amex, they made ” MR Express available on the Zync Card because we wanted to offer more relevant and attainable lifestyle rewards, such as retail and dining gift cards and electronics. As a result, we’ve focused our investments in these areas by adding new partners such as Kohl’s, Victoria’s Secret, Old Navy and offering popular products, such as iPods, mini computers, digital cameras, etc. ”

That may be the case, however, I have a very narrow minded focus on reward value per dollar spent. I personally am used to getting 4-5 cents in reward value per dollar spent, usually on travel, and I still can’t see how Zync can top my Starwood Amex. Maybe your needs are different.

Credit Card Warranty or Manufacturers Warranty?

By: Mr Credit Card

Mr. CC ,

I purchased a custom computer direct from the manufacturer (Toshiba), and will also be purchasing an enhanced extended warranty (accidental damage, auth. local service repair, etc.).Trying to decide who I should purchase the warranty from. My Nordstrom Visa Sig cc automatically extends any manufacturer warranty by 1 year, but , I can also the enhanced warranty directly from my Nordstrom Visa Sig. The price difference is negligible between the two (Toshiba and NVS), although the term of the contracts differ a bit. This is how it shakes out, as I understand it:

Toshiba – 2 year enhanced warranty – $200 (plus 1 yr from Nordstrom = 3yr enhanced)

Nordstrom – 3 year enhanced – $250 (which kicks in after the Toshiba standard 1 year warranty expires = 4yrs……..but no enhanced for year 1)

The terms and conditions of each policy are +/- the same, although each has some draconian language that allows them to decline to honor the warranty in some arbitrarily decided extreme circumstances.

This is a $1400 machine, a substantial purchase for my budget.

In your experience, who would you rather deal with in the event you had to ask for fulfillment from a warranty policy. It seems to me my CC co. would be more inclined to keep me a happy customer, since I provide them w/a continuing revenue source, although the lack of enhanced in year 1 does concern me. Your advice will be greatly appreciated.

Thanks,

Randy

Answers – Randy, this is a tough one to answer. But I would ask yourself the following question.

How long do you expect to use the computer – While some folks will use it until it dies out, others may actually upgrade after a set number of years or when some new features become available. If you tend to change laptops every three years rather than four years, then perhaps the decisions is easier.

Check your nearest Toshiba Repair Shop – On Toshiba’s website, you can find out the near Toshiba Repair center from your place. I think you want to make sure that it is somewhere near your place (or within reason). Since you have to spend

You might also want to check with your Nordstrom Visa and find out what is the procedure if your laptop does not work? – Find out what is the procedure? Do you have to send it somewhere for verification and will they reimburse you on what you spent to get a new computer? Or do you have to send it to a repair shop? How do you claim. Make sure you know the exact procedure for your credit card issuer.

I do not think I specifically answered your question so far. But personally, I prefer the first option since I think many laptops show signs of problems after the 2nd year. I also personally think you should upgrade a laptop after 3 years. HardDrive space and Memory simply improves so much within 2 or 3 years.

Another thing you might want to be doubly sure is that you are ing the manufacturers’ warranty and not the retail store warranty. I know for a fact that Amex extended will extend a “manufacturer’s warranty” but not “retailers’ warranty” like one you from Best Buy.

For additional information, see the Visa Warranty Guide