$50 Saks 5th: How To Fix the Multiple Platinum Problem

If you are having trouble adding the Saks 5th deal to more than one AmEx Personal Platinum card you may need to make a new account for each card. I have multiple Platinums because I got one by applying for it, and the other Platinum I got when I did a product change from a PRG after one year. I did not have any problem adding The Saks credit to the Platinums that are branded to MS, CS, MB, Ameriprise, or GS.

When I tried to add the second card it kept on switching back to my other card and posting an error. However when I split up the Pt cards to a new account I was able to add the deal. Here is the go by:

Log in to AmEx and click Card Management, then remove card from online management:

Next find the card that used to be your PRG, Gold or Green card, and remove it form your account:

Then log out and create a new account:

You should be able to make a new log in for your second Platinum card as well as add the Saks offer.

-Derp

15k MR for AmEx Green Platinum, PC to Platinum in 1 Year

AmEx Platinum pays you $600 a year to have it, why not have multiple? Especially with the $550 annual fee waived for military members per the SCRA.

AmEx will not let you apply for another card that you already own, this goes for multiple Platinum Cards. However you can product change to multiple cards you already own after one year. For example you can get the AmEx Platinum, spend $5k in 3 months for 60,000 MR points:

Then get the AmEx green, spend $1,000 in 3 months for 15,000 points:

Then in one year from getting the green, call and product change it to another Platinum for another $200 in flights, $200 in Uber, $100 for global entry, and $100 for Saks 5th Ave credit. The SCRA waiver will continue to cover the new $550 annual fee.

-Derp

100,000 Hilton Honors Points To Quit The Armed Forces

Thanks to Davey for the tip! This post is terribly sarcastic, so please don’t send me any hate mail:

Right now Hilton is enticing service-members to leave the military with a 100,000 point bonus to be used in search of a normal people job. More details here at the points guy. I for one love this beautiful nation and serving its military. I would never ever think about quitting active duty (unless of course I made O-6, done 26 years, had my loans forgiven, and got that sweet pension with a 5% TSP match for 22 years). I also enjoy the AmEx annual fee waiver on these two AmEx products:

Use my link here to apply for the Hilton Honors Ascend.

Use my link here for the Hilton Honors Aspire.

If you stay in the military you would get the SCRA waiver for annual fees on both cards on top of 175,000 points. The Aspire would give you a free night every year including the first one on top of a $250 airline credit, and $250 Hilton resort credit. Totally worth it to stay in right?

If you do get out, it’s worth looking into this program to help seek employment and take advantage of the 100k HHonors points!

Happy 4th!

-Derp

 

Open Enrollment For $100 Saks Credit

BLUF: Terms have come out on the new AmEx and Saks partnership, $50 Jan to June, another $50 July to Dec (not Sept as previously reported)! You don’t have to spend $50, the credit will apply like the airline credit. However gift cards are not going to be reimbursed. The credit only works at Saks 5th in store or online, and will NOT work at Saks off 5th.

Another write up here at Frequent Miler.

I was successful in adding my Ameriprise, Schwab, MB, Morgan Stanley, and regular Platinum Cards. However when I tried to add my second Platinum (Upgraded form PRG) it kept on switching back to a card already enrolled. I contacted customer service via chat and got this:

I guess we are well ahead of the game, again!

Good to know that the enrollment period has started for the first wave of $50 bonuses for your AmEx Platinum Card. The terms are:

Shop Saks with Platinum (Effective July 1, 2018)
Only the Basic Card Member or Authorized Account Manager(s) on a U.S. Consumer Platinum Card®Account can enroll in the benefit. Eligible purchases must be charged to the enrolled Card Account for the benefit to apply. Purchases by both the enrolled Basic Card Member and Additional Card Members on the eligible Card Account are eligible for statement credits. However, each Card Account is only eligible for up to a $50 statement credit from January through June and up to a $50 statement credit from July through December for a total of $100 per calendar year in statement credits across all Cards on the Account. Valid at Saks Fifth Avenue online or at locations in the US and US Territories. Not valid on Saks Fifth Avenue Gift Cards or purchases at outlet locations (in stores and online). Excludes purchases at restaurants located within the store and Online Bill Pay for Saks Credit. Not valid on online purchases shipped outside of the US. Please allow 2-4 weeks after an eligible purchase is charged to your Card Account for statement credit(s) to be posted to the Account. Please call the number on the back of the Card if statement credits have not posted after 4 weeks from the date of purchase. Note that American Express may not receive information about your eligible purchase from merchant until all items from your eligible purchase have been provided/shipped by merchant. Statement credit may be reversed if the eligible purchase is returned/cancelled. If American Express does not receive information that identifies your transaction as eligible for the benefit, you will not receive the statement credit. For example, your transaction will not be eligible if it is not made directly with the merchant. In addition, in most cases, you may not receive the statement credit if your transaction is made with an electronic wallet or through a third party or if the merchant uses a mobile or wireless card reader to process it. To be eligible for this benefit, Card Account(s) must be not canceled and not past due at the time of statement credits fulfillment. If a charge for an eligible purchase is included in a Pay Over Time feature balance on your Card Account, the statement credit associated with that charge may not be applied to that Pay Over Time feature balance. Instead, the statement credit may be applied to your Pay In Full balance. For additional information, call the number on the back of your Card.
Important points to take away:
  1. You don’t have to spend $50 each time (No Minimums)
  2. You will only get $50 Jan to June and another $50 July to December
  3. No gift cards
  4. No credit at Sacks Off 5th outlet locations
  5. Can be used online (idealy stacked with 4% cash back with ebates)

Happy shopping!

-Derp

Starting Sunday: Another $100 Credit For AmEx Platinum

AmEx now pays AD members $700 every year in credits. That is with your waived $550 annual fee per the SCRA, you are earning $200 in Uber(Eats), $200 in Airline Incidentals, $100 in global entry, $100 MB Accessory Certificate (Mercedes Card Only), and now $100 towards random over priced shit at Saks!

get $50 off your $28,000 purse starting Sunday 01 July 2018

Starting this Sunday 01 July 2018 you will get a $50 credit to use at Saks Fifth Ave between July and Dec every year; according to this r/churning post and DoC. Log in to your account here and add the benefit to each one of your Personal Platinum Cards (Business Card does not count). If you don’t have the card, use my links below to get your $550 annual fee waived AmEx Personal Platinum Card for Military:

Link 1

Link 2

Link 3

Link 4

The payout is one $50 credit to spend from January to June (starting 2019), and another $50 for July through Dec for each card. This is every year for every personal platinum card (MB, Schwab, Morgan Stanley, Ameriprise, Goldman too). For our family we have: 2 Personal Platinums, 2 More upgraded from the PRG, 2 MB Platinums, 2 Morgan Stanley, 2 Charles Schwab, and one Ameriprise Platinum for a grand total of 11 cards worth $1,100 per year at Saks 5th Ave. I plan on upgrading my Green and Ameriprise Gold to two more personal Platinums. I am planning on getting $50 gift cards in store (although the terms outright say it can’t be used for it), (seems like e-gift cards start at $150). This would allow me to split up the charge over 13 cards covering the two payout periods. The combined 26 x $50 gift cards would be good for $1,300 towards a single pair of Gucci boots for my type 3 NWUs:

Just kidding, I think I could do 13 trips to Saks twice a year and buy $50 keto treats each time:

You can also use the credit online, and $50 goes a pretty long way on sale items:

If you go the online route, make sure you stack it with Ebates to get another 4% off also use your shop runner for free 2 day shipping and returns. More info this Sunday when I bring 11 AmEx Platnum cards to go shopping at Saks downtown Chicago!

-Derp

Getting Dumped By Charles Dow and Edward Jones (Again)

Did you know that General Electric was dropped from the  Dow Jones Industrial Average in September 1898? Well history repeated itself on 19 June 2018!

Yesterday General Electric got dumped from the Dow 30 and replaced by Walgreen’s. I have always felt the DJIA is a worthless (very flawed) index that we just keep around because it is our longest running index. Back in 1896 it was easy to calculate the average of a 12 companies since it all had to be done by hand. You would just add up the closing price for every component and divide by the numerical average price of each, and you got the number for the trading day.

Here are the original dozen companies in the DOW, note that none of these are part of the index as of 20 June 2018:

The American Cotton Oil Company Distilling & Cattle Feeding Co. North American Company
The American Sugar Refining Company General Electric Company Tennessee Coal, Iron and Railroad Company
American Tobacco Company The Laclede Gas Company The United States Leather Company (Preferred)
Chicago Gas Light and Coke Company National Lead Company United States Rubber Company

If you are curious about what happened to the other 11 companies there is a great write up here. The Dow 30 is the like floppy disk icon to represent save in the menu bar. It is some archaic reminder of days past which has no indication of the present. Right now we have computers that can calculate a better index like S&P 500 or even the Wilshire 5000. The only adjustment made for modern times is the use of the Dow divisor that makes up for stock splits and other changes. The Dow as a indicator of market direction is flawed because they didn’t account for outstanding shares, market capitalization or balance each component like the do with a modern index. We can see that the Dow 30 is just a elite list of the most uniquely American companies rather than a useful market indicator.

It has been suggested companies dumped from a major index end up outperforming due to being dropped. Mechanically all these funds that held on to that component are forced to sell at any price to match the new index. I don’t think there too many savvy investors that are invested heavily in just these 30 companies (unless you’re like 100+ years old). Rest assured that GE is still a component of the S&P 500. If you hold onto the C Fund, you have about half a percent of what you have in C Fund as exposure to GE.

However the Dow Dumping Effect has worked in the past where it has signaled the bottom of a company’s cycle. Things did not get worse from there, but with getting kicked out of the club massive changes took place. The article here that outlined AT&T’s dumping and replacement by Apple goes into every ousted company in modern times, and what happened afterwards:

GE might be a good buy at $10 after the dust clears (note: no due diligence here, just made the number up in my head). I don’t think a company that makes everything form light bulbs to jet engines will go out of business anytime soon. You can always use TradeStation or Robinhood to own a share of GE, but that would be boring. Let’s just say you wanted to buy it directly without a broker, you could then have direct registration and Buy and HODL [Sic] forever. If you go over to EQ by Equiniti you can actually buy these 93 companies (including GE) with a simple ACH from your bank account:

Minimum Initial Investment Company Serviced by EQ
$100  ADIENT PLC
$250  ALLETE, INC.
$250  ALLIANT ENERGY CORPORATION
$250  APOLLO COMMERCIAL REAL ESTATE FINANCE, INC.
$500  ASHLAND GLOBAL HOLDINGS INC.
$500  BEMIS COMPANY, INC.
$250  BLACK HILLS CORPORATION
$250  BRISTOL-MYERS SQUIBB COMPANY
$250  CALERES, INC.
$250  CBS CORPORATION
$250  CBS CORPORATION
$250  CHATHAM LODGING TRUST
$250  CMS ENERGY CORPORATION
$250  CVS HEALTH CORPORATION
$1,000  DARDEN RESTAURANTS, INC.
$500  DIEBOLD NIXDORF, INCORPORATED
$250  Dollar General Corporation
$250  DUKE REALTY CORPORATION
$1,000  EDISON INTERNATIONAL
$1,000  ELI LILLY AND COMPANY
$250  ENTERGY CORPORATION
$250  EXELON CORPORATION
$250  FIRST AMERICAN FINANCIAL CORPORATION
$100  FLOWSERVE CORPORATION
$250  GENERAL ELECTRIC COMPANY
$250  GENERAL MILLS, INC.
$500  GLASSBRIDGE ENTERPRISES, INC.
$750  HCP, INC.
$1,000  HMN FINANCIAL, INC.
$250 HOLLYFRONTIER CORPORATION
$200  IDACORP, INC.
$500  ITT INC
$100  JOHNSON CONTROLS INTERNATIONAL PLC
$100  KIMCO REALTY CORPORATION
$500  KOHLS CORPORATION
$250  LAMB WESTON HOLDINGS, INC.
$1,000  LIBERTY PROPERTY TRUST
$500  LINCOLN NATIONAL CORPORATION
$500  MARSH & MCLENNAN COMPANIES, INC.
$500  MCCORMICK & COMPANY, INC.
$250  MDU RESOURCES GROUP, INC.
$250  MEDTRONIC PLC
$350  MERCK & CO., INC
$500  MODINE MANUFACTURING COMPANY
$500  MONDELEZ INTERNATIONAL, INC
$1,000  MOTOROLA SOLUTIONS, INC.
$1,000  NATIONAL FUEL GAS COMPANY
$250  NCR CORPORATION
$100  NEW JERSEY RESOURCES CORPORATION
$50  OLD REPUBLIC INTERNATIONAL CORPORATION
$250  OMNICOM GROUP INC.
$250  ONE GAS, INC.
$250  ONEOK, INC.
$250  OTTER TAIL CORPORATION
$250  PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
$250  POLYONE CORPORATION
$250  PPL CORPORATION
$250  PUBLIC SERVICE ENTERPRISE GROUP INC
$250  QUANEX BUILDING PRODUCTS CORPORATION
$250  RLI CORP.
$1,000  ROCKWELL AUTOMATION, INC.
$1,000  ROCKWELL COLLINS, INC.
$200  RPM INTERNATIONAL INC.
$250  RYDER SYSTEM, INC.
$250  SCANA CORPORATION
$500  SCHNITZER STEEL INDUSTRIES, INC.
$250  SOUTHERN COMPANY
$250  SOUTHWEST AIRLINES CO.
$250  SOUTHWEST GAS HOLDINGS, INC.
$250  SUPERVALU INC.
$500  TARGET CORPORATION
$250  TENNECO INC.
$250  TESSCO TECHNOLOGIES INCORPORATED
$500  THE ALLSTATE CORPORATION
$1,000  THE BANK OF NEW YORK MELLON CORPORATION
$250  THE KRAFT HEINZ COMPANY
$250  THE PROCTER & GAMBLE COMPANY
$1,000  THE TIMKEN COMPANY
$250  THE TORO COMPANY
$250  THE TRAVELERS COMPANIES, INC.
$1,000  TIMKENSTEEL CORPORATION
$250  TWO HARBORS INVESTMENT CORP.
$250  UNITI GROUP INC.
$250  VALVOLINE INC.
$500  VECTREN CORPORATION
$0  VENTAS, INC.
$250  VIACOM INC. CLASS A
$250  VIACOM INC. CLASS B
$250  W. R. GRACE & CO.
$250  WALGREENS BOOTS ALLIANCE, INC.
$250  WELLS FARGO & COMPANY
$250  XCEL ENERGY
$500  XYLEM INC.

If you go to the site you can just buy a share or two with a linked bank account. You would then be able to transfer shares as needed to gift them to friends and family. Some companies will issue physical certificates, but GE will not. Hope to make some money for the grand kids this way when they find an old certificate buried in my desk!

-Derp

 

 

MLA Waived, 5/24 Non-Restricted, Free Annual Night, 85k Points IHG Chase Card

Please use my link here to apply for the IHG Card. I currently have this card, but got it before the MLA took effect. If you get it now the $89 annual few will be waived per the MLA. This mean by holding on to the card while on active duty means one free night a year. When you spend $2,000 in 3 months and if you add an AU you can get 85,000 points. These points can be use from Hotel brands below:

Top tier hotels like the Intercontinental in Chicago run 50k points a night:

Where as the Holiday Inn runs you about 10k a night. The best part is 4th night is free when booking with points:

With 80k points you can get the Holiday Inn for 3 nights and get the 4th night free. That would be good for two bookings of 4 night and a booking for 2 night for a total of 10 free nights with $2,000 spend in 90 days. I was able to use my points for the ANA Intercontinental in Tokyo for 50k points. The free annual night has been restricted to hotels of 40,000 points or less, and must be redeemed, and stay must be completed, within 12 months from date of issue. This is a bit of a downgrade from the previous card, but for the price of $0 a year its is still well worth it.

-Derp