Free Peet’s Coffee @ Capital One

If you want to see the future of banking stop by the Capitol One Cafe located at 1538 N Clybourn Avenue and watch two baristas and a single banking ambassador represent an entire multinational banking conglomerate. This Chicago location opened up in January of 2017, and I was able to get down town to check it out today, It was an unique experience, think of an ideal third place that happens to be a bank, coffee shop, student union, and library all in one place.

Last month I was able to open a checking and money market account online to get $600 in bonuses. This cost me just giving up $10,500 for just 4 weeks for a 5.7% return (68.4% annualized return). The bonus (despite targeted restrictions) posted within days of the second direct deposit dropping, and now it was time to take money out of the account using one of their fancy super ATMs.

The machine was the most advanced ATM I have used with dual touch screens laid out like a consul from Star Trek. I was able to transfer my $200 bonus with my iPhone app to my 360 checking and then take out both the $400 bonus and the $500 total direct deposits as My Pay allotments out as cash in any combination of bills I wish. There didn’t seem to be a limit on the withdrawals for the day. The experience was much better and more efficient than any human teller I have had in recent memory. The banking concierge/ambassador was there if I needed any help.

Since it was my first visit I was given a tour of the facilities as well as a coupon for a free coffee of my choice at the cafe. This wasn’t a small coffee machine that you see at most banks, but a full service Peet’s coffee bar. If you paid with any Capital One product (including debit card) the drinks were half off. Better yet was every Monday 8am to 11am and Wednesday 4pm to 6pm drinks were free for any Capital One card holder!

The rest of the space was open to anyone as first come first serve meeting rooms and study spaces. Lots of university students taking advantage of the space. If you have any of the Capital One products, I would head on over to one of these cafes just to check them out. I think this will be a very successful venture for them to get their name and product out to new markets. Hell I might just set up shop here and post every free coffee day!

-Derp

Instant $200 bonus on BMO?

 

Edit: I may have been bamnoozled! Looks like the apply the code instantly rather than the $200. Still worth it for the free $1,000 charge.

original post starts here:

Looks like BMO is desperate for new accounts! They will give you $200 for a quick $1,000 credit card funded checking account. The offer is located here, more info here.

-Derp

4.5% Cashback With NFC&USB

Thanks to reader Dan B, This blog, and Reddit for the up to date info!

Near Field Communication or NFC is what your iPhone or Apple Watch or android or Samsung phone uses when you pay at the cashier. The watch or phone sends the credit card info to the credit card pad with a tiny antenna in a near field.

Right now US Bank’s new Altitude card is offering 3x points on all travel categories as well as any purchase using NFC! Travel is defined as:

  • airlines
  • hotels
  • car rental companies
  • taxis
  • limousines
  • passenger trains
  • cruise line companies
  • Hotels
  • Motels
  • Resorts

These are the same as the Chase Sapphire Reserve Card so nothing new here. The key to this card is to earn 3X points per $1 for eligible net mobile wallet purchases when using the Altitude Reserve card with your mobile device to pay through Apple Pay,® Android Pay,™ Samsung Pay and Microsoft Wallet.

This is not only in-store, but also in-app or online. As long as the website or app takes Apple Pay,® Android Pay,™ Samsung Pay or Microsoft Wallet.

Effectivly these points can be redeemed for 1.5 cents per point using the US Bank travel portal or 1 cent for gift cards or statement credits. Effectively making this a 3 to 4.5% cash back card. This is more than the 2.5% with my USAA Limitless.

The annual fee is not waved for military and is $400 but includes a $325 travel credit for the above categories effectively making the annual fee $75.

The starting offer of 50,000 points after spending $4,500 in 90 days of account opening is worth more than $75 with credit for $750 in travel.

They are only taking applications in person, and must be a US Bank customer. Offer is starting 02 May 2017 and there is a US Bank branch right by Fort Sheridan in Highwood. Hope to see you all there!

-Derp

Derp Report Baby Edition

I gained access to one of the most exclusive lounges in the North Shore last night. To get there you must be the spouse to someone, or have given birth yourself at Lake Forest Hospital. This lounge was of course the postpartum wing of Lake Forest Hospital. Not sure if any frequent flyers get extra amenities, but feel blessed that this place existed at all.

Behind several layers of security doors is a bonanza of snacks and beverages:

unlimited saltine crackers and graham crackers

sandwiches, juice, chips, fruit

endless string cheese

Kidding aside, we just had a baby boy and so that means Derp Report may be slow on the updates in the next few months. I do have some tips to make when it comes time for baby travel after delivery. We made travel plans using MR points with AmEx travel well before the baby was born. When I booked, I purposefully didn’t book a ticket for the infant since we had not decided on a name or known what day he was going to be born. I did not want to wait till the birth because I would of lost out on the lower prices, and since it was a lap baby, it would not cost more or take up any more seats.

Once I had this information I was ready to call in the reservation. For my United flights I called the Premier line at 1(800)225-8900 and made the reservation for a lap infant using the locator code AmEx provided me. I called 1(800)433-7300 to do the same with my American Airlines flights. Both of these trips I had used points, and it was not a problem to book the infant after the fact. When you got a kid on the way, don’t get hung up on booking the tickets on the AmEx side where it gives you the infant option, just book for yourself and add the kid once they are born. More details are given on the mommy points site.

The last bit of advice is to bring your own coffee maker since hospital coffee is always terrible. This terrible coffee is often made by medical professionals that have much more important duties (like delivering babies) at night. The beans are oxidized and it has been burning on the maker for hours. There is often plenty of free hot water from the machine, and I use the nice thermal container I got from the $100 certificate via the AmEx MB card to get some. I then bought a hand pump espresso machine that takes Nespresso capsules.

This comes in handy when you got to be up till 2 am waiting for a baby to show up! Luckily we didn’t have to wait that long for our son, and everyone got a good night’s rest. We even got a killer celebration meal the next day. Thanks to the good folks of Lake Forest Hospital for a wonderful experence!

This new baby is going to be my excuse for not posting in awhile. In the mean time go read Davey Nelson’s blog or apply to the AmEx Platnum card and work on that $5,000 spend.

-Daddy Derp

Targeted: 325,000 MR Points with $1,450,000 Spend

Right now there is an excellent opportunity going on:

Enroll by June 6, 2017 and earn 250,000 Membership Rewards points after you spend $1,150,000 on qualifying purchases with your Card. After you earn the first Membership Rewards points, you can earn an additional 75,000 Membership Rewards points after you spend an additional $300,000 on qualified purchases with your enrolled Card by October 6, 2017. Terms and Conditions apply.

I tried to sign up here, but it looks like its targeted. Thanks to u/soulsandwich for the link, and the advice of getting other offers generated.

Since I don’t have the offer, I can only speculate on exactly what I would do. So we go back to our Brad Wilson Churn idea and expand it to $1.45 million dollars. What exactly does $1.15 million and $300k in gold look like? We turn to BGASC.com which is the only site that takes AmEx. They sell 100 oz Gold Bar Republic Metals Ingots for $133,431.44 a bar with credit card. This price is $67.86 per ounce over spot of $1,266.45. With $1.45 million we can buy eleven 100oz bars of gold, and just hope that the spot rises at least $68 to hit $1,334.45 to sell back.

With the $1,467,745.84 charge we would get 1.5 points per dollar since we went over the $5,000 charge threshold on my AmEx Business Platinum. This is just 2,201,618 MR for the spend alone. Combine this with the bonus of 325,000 bonus we get 2,526,618MR for a cool $1,450,000 spend. This is an nice 2 points per dollar spent.

What does 2,201,618 MR points get you? Well right off the bat with Charles Schwab you could take the $27,520.22 and spend it on anything you want with 1.25 cents per point. You could also get $44,032 in airfare for first class or business class tickets or coach of the airline of choice using the old 50% biz combo trick. On more ideas we can look at what the points guy suggested for 26 million MR points.

Of course a transaction this large would raise alarm bells at the AmEx home office and sure as hell would raise alerts to the RAT. There could be an argument that the gold is a cash equivalent much like a gift card or coin. Plus for every ounce of gold you are paying a $67.86 premium, and 1,100 ounces of gold means $74,646 lost in fees right away! Storage and transportation of 1,100 troy ounces (75.42 pounds) of gold might cost you a bit as well.

Let me know if you go through with the churn! I will buy you a beer.

-Derp

 

US Bank: Barclays’ Replacement

Looks Like US Bank is going into the baller Credit Card Bling Blong Market. Their new metal card product is coming in May and will be called “US BANK ALTITUDE“.It will have these features according to DOC and flyer talk:

  • 12 free gogo wifi passes (already got with AmEx Platinum Business)
  • Airport Lounge Access (have with AmEx Platinum and CSR)
  • TSA Pre-check (AmEx Platinum with Global entry and DOD ID number)
  • Black car and car rental service (Elite status with AmEx Plat as well as Uber credits)
  • Visa Infinite Concierge service and more (Got it with CSR)
  • Custom Engraved Metal Card (pfff, Can some one make a zirconia card already???)

This is nice for those who had a us bank credit card account before they joined, because they apparently waive all fees while in active duty.

If you obtained your U.S. Bank mortgage, loan, line of credit, or credit card prior to being called to active duty, SCRA allows a cap of 6% on the interest rate and a waiver of all fees while you are on active military service.  Contact the Military Service Center to request this benefit.

Potential for doing a product change to the new premium product of a card you had before you joined. I did not have a US Bank card so I’m out of luck. More to come, but who has any experience with US Bank and SCRA? Andy Sheep has had no luck at all with waiving for a product obtained while on active duty,

-Derp

Datapoint: TD Ameritrade DD in CapitalOne, $400 bonus

This is the Data Point you guys have been waiting for! I got my $400 bonus on CapitalOne using the code for the Boston area without being targeted. I also used $250 as an allotment from MyPay as well as $250 from TD Ameritrade! I became the datapoint I wanted to see. There was much concern regarding language used for the specific targeted offer, but I guess they rather have my money than being specific. I also set my location to Boston the the website just to be sure!

First I went to this site here and started my application. I used ref code PLUS400 when prompted and entered my Illinois address no problem. The account was opened and funded with direct deposit in 5 mins. A week after the direct deposits hit I got my $400!

My $200 hit on the $10,000 as well for the money market account. So that was a sweet $600 on $10,500 in a week for a nice 296% annualized return! I am under no obligation to keep any of these accounts open. No minimum account time or closing fee, but I will keep it open to not be a blue falcon to the rest of you.

-Derp

Stacked Bonus: 50% MR Bonus With 4x MR

If you are thinking about getting the 60K MR points for $5k spend, PLEASE USE THIS LINK TO APPLY

The triple stacked deal is still here! Metal is soon to come to the AmEx Business Platinum cards, and for good reason since both cards should be sold in pairs! The cards work together to get 50% points back on flight bookings using points. This applies for any ticket of the airline you choose for your Business Platinum or any ticket on any airline that is business or first class.

Now the synergy is here, when you check out of AmEx Travel using pay with points you can actually choose any of your Personal Pt Cards for another 4x points on the cost of the tickets. This works because when you pay with points you will actually charge the card you pick with the price of the ticket. American Airlines charged my Personal Platinum Card when I booked a flight with points, then the card waives the charge.

My Personal Platinum card was charged $1,377.64, and in the eyes of American Airlines  it’s a regular revenue flight. This means I get to keep the miles flown and segments flown for status. Since it charged the card and it’s an airline, you get 4x points for the charge (1x missing since the charge is automatically reversed) for a total of 5x for airline tickets. Very detailed explanation here on reddit. Essentially the bonus of 5x for booking directly with an airline is triggered with pay with points!

Since the Business Platnum card is linked to the same pool as the Personal Platinum that I pulled points from, I got 50% of my points back even though I used the personal card on check out. That means I spent 137,764 MR points initially, got 68,882 from Business Pt 50% bonus as well as 5,510 MR from Personal Pt back as a bonus (4x MR for flights). Grand total of 63,372 MR points for $1,377.64 in airfare for a sweet 2.17 cents per point! This far exceeds that of UR points with chase.

If you haven’t gotten the Personal or AmEx Business card and would like a nice wood phone stand, Go ahead and use this link for the personal and this one for business. Not sure when the metal business ones are coming so you might have to wait.

-Derp