Improved: Citi ThankYou Premier Card 50,000 Point Bonus = $500 in Gift Cards = $665 in Airfare

(Update: The Citi ThankYou Premier 50,000 point offer is back and improved, with a $2,500 spending requirement and also the annual fee is waived for the first year. In addition, you can now mix points and cash when redeeming ThankYou points at a 33% premium for travel.)

The Citi ThankYou Premier Card is now offering 50,000 bonus ThankYou Points after $2,500 in purchases within 3 months of account opening. That is enough to redeem for $500 in gift cards or $665 in airfare when you redeem through their ThankYou Travel Center. There is no annual fee for the first year, $125 after that. Let’s take a closer look at how this breaks down.

You can view your redemption options at ThankYou.com. In general, it takes 10,000 ThankYou (TY) points to redeem for a $100 gift card to retailers like Gap, Banana Republic, Barnes & Noble, Bath and Body Works, Bed Bath & Beyond, Cabelas, CVS Pharmacy, Kohl’s, Land’s End, LL Bean, Sears, Lowe’s, Home Depot, Staples, and Walmart. So with 50,000 TY points, you could get five $100 gift cards from different stores.

Want something closer to cash? For a check mailed to you, it costs 8,000 points for $50. For a statement credit, it’s 7,500 points for $75. A check mailed towards your mortgage payment or student loan (made out to your lender) costs 7,500 points for $75. You could also redeem your points for a Walmart gift card and then sell it for cash at a site like PlasticJungle.com that offers you 91 cents on the dollar. 50k points would net you $455 in cash.

Now let’s look at the advertised airplane ticket option. A good question is whether a flight booked through the ThankYou Travel Center costs the same as through any other travel site like Expedia, Orbitz, etc. I have some old ThankYou points laying around, so I went to the redemption site and found that the prices are very closely aligned to what is offered at sites like Expedia.com. I did a few quick searches for random flights, and the cost of the flight matched up with the cost in points in a 100:1 ratio. For example, the exact same flight below that cost $360 including taxes and fees on Expedia would cost 36,000 TY points.

ThankYou Travel Center screenshot:

Expedia.com screenshot:

So the pricing seems fair, no inflated prices or hidden fees. However, with this specific Premier card with the annual fee, you also get 33% more value when redeemed for airfare. Thus, 50,000 points can be redeemed for $665 in airfare, which would typically require 66,500 points. Since you can book any flight that can be found on Expedia, there are “no blackout dates”.

Update October 2011: Let’s say you found a ticket for $200 = 15,000 points, but only have 10,000 points in your account. Citi now lets you pay the difference, so in this case you can get your $200 ticket for 10,000 points and $67. This makes it much easier to use up all of your points at a 33% premium.

Some other highlights of the card:

No foreign transaction fee on purchases.Earn 1.2 ThankYou Points per $1 spent at gas stations, supermarkets, drugstores, commuter transportation and parking merchants. Earn 1 ThankYou Point for every $1 spent on all other purchases.No limits on earning points or expiration dates.Earn points for the miles you fly as well when you purchase a ticket with your Citi ThankYou Premier Card.Other smaller perks, like 200 bonus points for signing up for online account access, 200 points for paperless statements, and a 1-5% bonus on your existing point balance on your annual card anniversary.Annual complimentary domestic companion ticket. (Fees and taxes not included. Full details not available on application.)

Citi ThankYou Premier Rewards Card application link

Find more in Credit Cards, Deals & Offers | 10/21/11, 12:35am | Trackback

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Improving At Golf Is Like Improving At Life: Impossible After Awhile!

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$1.50/1 Mar’s Candy Printable Coupon

This coupon will not last long! If you are still in need of Halloween candy for Monday night, grab this $1.50/1 Mar’s Printable Coupon and head out to score a deal! This should make for 49 cent bags at Walgreens. Use zip 90210 to find this one.

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What To Do If Your Big Bank Gets A Buyout Proposal

As bank customers, most of us would like to know what to do if our bank gets acquired or fails. What can we expect if our bank gets bought out?

Some years ago, Washington Mutual was known for online banking products such as a savings account that offered a high yield for linking with a checking account. Unfortunately, WaMu was the most prominent bank affected by the financial crisis. Let’s go over what can happen when a bank “fails” — and how it can affect your money.

Bank failures aren’t necessarily uncommon, but from 2008 and onwards, things got dicier for the banking industry. Scores of banks have failed in recent years. These failures have occurred to banks of different sizes that are located in a variety of states. Typically, you’ll find that a state or federal banking agency will move in on a failing bank when that bank owes more than it can pay back to its depositors.

When Washington Mutual suffered from the subprime mortgage crisis, it lost a great deal of its value. A bank run resulted when a number of depositors withdrew billions of dollars in a span of 10 days. This bank run drove the Office of Thrift Supervision to seize WaMu, which made this the largest bank failure to happen in the U.S. to date.

The FDIC then stepped in to auction off WaMu to JPMorgan Chase. That meant that WaMu’s customers were absorbed by Chase’s banking division. Rather than completely suspend services for WaMu account holders, the FDIC indicated that deposits would continue to be accepted and that checks would be processed as usual. ATMs and online banking remained available.

Eventually, these customers were able to use Chase’s ATMs for their deposits and to transact business in Chase’s branches. After some months (by the end of 2009), WaMu branches across the nation were either closed or became Chase branches. Now, the former WaMu accounts have been fully transitioned to Chase accounts.

Fees aside, there’s still good news for existing customers of an acquired bank. You might be wondering what to do if your bank faces the possibility of failure. Thanks to FDIC coverage, you don’t have to worry about losing every penny you have. This is because the FDIC’s insurance covers each depositor for up to $250,000 per ownership category. Your savings and checking accounts are protected up to this amount. So are NOW, money market deposit accounts, and even certificates of deposit. If you have more than the maximum in one account, you should find another bank for the amount that isn’t covered.

If your bank fails, the FDIC will let you know by mail. When another bank buys your bank, you’ll get another letter informing you. According to the FDIC’s list of bank failures, the majority of failed banks are taken over by other banks.

Should you immediately move to another bank or credit union if your bank is acquired by another institution? Following are some strategies you can follow if you are pondering this question:

1. Learn about the acquiring bank. This might be a good idea. That’s because the new bank might actually offer favorable items like free checking or decent interest rates for its incoming customers. WaMu’s customers gained access to Chase’s line of credit cards, for example.

2. Compare the acquiring bank against the alternatives. Take some time to visit the acquiring bank’s branches and listen to what the word of mouth about the bank might be. Compare this bank’s reputation to that of any competitors you’re eyeing. It isn’t worth the hassle to make a long drive to a bank that’s farther away or to one that doesn’t have the benefits you’d prefer.

3. Wait things out and keep the status quo. Don’t act rashly. Your old ATM cards may remain in service during the transition, and you’re likely to be able to access your account online. Your old checks will probably still be processed as usual, until the new bank discloses new terms. Also, it’s best for you to continue to make your loan payments as usual until you’re directed to a new payment address or location. Wait out the transition period before you decide to leave. Bank acquisitions are complex negotiations that take time, so it may be six months or longer before you notice anything different with your rates or fees.

4. Be prepared for possible changes to existing accounts. It’s possible for your bank to have its products transition to other types with added fees. This is when you should decide whether it makes sense to make changes. For instance, WaMu’s former customers learned that their free checking accounts were transitioning to a fee-based type of account. We’ve written about how the popular WaMu Free Checking account turned into the Chase Total Checking account. The bank sure couldn’t wait to start charging their customers some bank fees. So be aware that your new bank may adjust your account’s terms and may modify the services you’re offered.

5. Don’t forget to monitor your deposits through a transition period. Unclaimed deposits are sent to the FDIC for processing. After that, the FDIC turns over the unclaimed deposits to the state you list as your address on your account.

As we’ve learned from the last few tumultuous years, a bank failure can strike large banks like WaMu or even the friendly, smaller local banks that have been around for decades. However, since other banks tend to take over the failures, you’re more likely to transition to a new bank than to utterly lose your money. Such was the case when WaMu’s customers were picked up by Chase. Make sure you’re aware of your bank’s FDIC coverage and general state of health and you’ll go a long way to protect your assets.

Created July 11, 2008. Updated October 19, 2011. Copyright © 2011 The Digerati Life. All Rights Reserved.

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Coinstar Earnings Plunge on Fee Hikes

Coinstar (NASDAQ:CSTR) shares are plunging today after it said it plans to raise fees at its DVD rental kiosks.

The company posted third quarter earnings late yesterday that were well ahead of analyst expectations, at $37.1 million, or $1.18 per share, compared to $19.5 million, or $0.60 per share, last year. The results were well ahead of analyst estimates.

But the company said it is hiking the fee for regular DVD rentals to $1.20 per share from $1 per share.

In addition, Coinstar's forecast for fourth quarter earnings is below analyst estimates.

Mail-order DVD rental company Netflix (NLFX) saw a decline in subscribers after it raised its own fees in the third quarter.

Both companies are contending with increasing video streaming services, such as those from Amazon.com (NASDAQ:AMZN), Walmart's (NYSE:WMT) Vudu and Dish Network's (NASDAQ:DISH) Blockbuster.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.

Daily Dividend Report: LMT, XOM, WFC, COST, SE, AB
Related symbols: LMT,XOM,WFC,COST,SE,AB Weekly Market Wrap: October 21, 2011
Related symbols: C,JPM,WFC,YHOO,MSFT,AAPL,T,S,VZ,MCD,ARCO Weekly Market Wrap: October 14, 2011
Related symbols: YHOO,GS,CMCSA,MSFT,GOOG,NWS,NDN,LIZ,JCP,KSS All videos » Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

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FAS, WMCR: Big ETF Outflows

Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the Daily Financial Bull 3x Shares (AMEX:FAS), which shed 9.3 million shares, or a 7.3% decrease week over week. Among the largest underlying components of FAS, in morning trading today Aflac (NYSE:AFL) is up about 1%, and Affiliated Managers Group (NYSE:AMG) is lower by about 0.4%.

And on a percentage change basis, the ETF with the largest outflow was the Wilshire Micro-Cap ETF (AMEX:WMCR), which lost 700,000 of its shares, for a whopping 28.0% decline in outstanding shares.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.

Daily Dividend Report: LMT, XOM, WFC, COST, SE, AB
Related symbols: LMT,XOM,WFC,COST,SE,AB Weekly Market Wrap: October 21, 2011
Related symbols: C,JPM,WFC,YHOO,MSFT,AAPL,T,S,VZ,MCD,ARCO Weekly Market Wrap: October 14, 2011
Related symbols: YHOO,GS,CMCSA,MSFT,GOOG,NWS,NDN,LIZ,JCP,KSS All videos » Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

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US Budget Numbers Simplified To The Household Level

Someone sent this to me via e-mail, and I don’t know the original source. From the $38.5 trillion number, that seems to refer to the budget cut deal that averted a US government shutdown in April 2011. In any case, it does make the numbers much more easy to grasp.

Some stats about the US government:

U.S. Tax revenue: $2,170,000,000,000Fed budget: $3,820,000,000,000New debt: $ 1,650,000,000,000National debt: $14,271,000,000,000Recent budget cuts: $ 38,500,000,000

Now, remove 8 zeroes and pretend it’s a household budget:

Annual family income: $21,700Money the family spent: $38,200New debt on the credit card: $16,500Outstanding balance on the credit card: $142,710Total budget cuts: $385

I know that this is macroeconomics vs. microeconomics. But the orders of magnitude are correct, and it can’t look good to anybody. I’ve never really liked the macroeconomics theory that it’s okay for governments to carry huge amounts of debt as long as it’s “only” a certain percentage of GDP. The idea is that you’ll grow your way out of it.

Now, I’m more of a microeconomics guy. I try to figure out the rules of the game and play it the best that I can. I avoid getting emotionally involved in things that I view are out of my control. But to me, it just seems like all the politicians ever do is kick the can down the road. You can’t do that forever.

Find more in Taxes | 10/14/11, 5:00am | Trackback

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