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Personal Finance Digest

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In the personal finance advice industry, conflicts of interest aren’t a bug… they’re a feature

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In the points-n-miles world, there are occasional rumblings, particularly in the comment section of certain blogs, that some bloggers promote credit cards with little regard for whether or not their doing so is in the interests of their readers. To get some perspective on this issue, I recently read “Pound Foolish: Exposing the Dark Side of the Personal Finance Industry” by journalist Helaine Olen.

If you’re the type who enjoys hating on the likes of Dave Ramsey and Suze Orman, you’ll find plenty of red meat in this book. Of Orman’s ill-fated debit card product, Olen writes, [Read more…]

Wells Fargo Credit Cards: Putting the ‘WF’ in ‘WTF’

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Back when I first got the moderately famous Wells Fargo 5% card, that bank’s execution struck me as amateurish. Neither the fulfillment package nor the credit card itself mentioned which credit card I was receiving (it just said “Wells Fargo”), nor was there any mention of the 6-month 5% promotion.

Other folks had worse experiences. Will Run For Miles (whose blog post title I more or less ripped off, by the way–sorry Kat!) published a lengthy account from which this is only a small excerpt: [Read more…]

Who has richer parents: artists or accountants? Plus a 150,000-point Amex offer

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WHOSE PARENTS ARE RICHER?: Here’s a fascinating graph from NPR. They crunched the data from a government study which has tracked several thousand people for decades to learn something about the backgrounds of people who pursue various occupations. If you’re looking to get a leg up (or avoid moving down a rung), or if you’re just generally curious about cool graphs, take a look. Here are the results:

income childhood vs adulthood
Courtesy of NPR (click to embiggen)

So it would seem that artists come from the same socioeconomic background as accountants, but do not end up doing as well, financially speaking.

FREE STARBUCKS STARS: See Dan and Gary for details.

150,000 IS THE NEW 100,000: If I remember correctly, British Airways was the first to offer a six figure sign-up bonus a few years back with its 100,000-mile offer, which is still around to this day, albeit with a higher minimum spend. I’m not aware of anybody who’s broken that mark until now, as Points, Miles, and Martinis has been targeted for a 150,000-point offer for the Amex Platinum:

This one has a pretty hefty spend requirement: $10,000 to earn the first 100,000 and then $10,000 more to get the next 50,000. If only there were some quick way to knock that out…

CVS TO HALT VANILLA RELOAD SALES: Oh, you haven’t heard about this? If so, this is the only points-n-miles blog you read, because every single other blogger has already mentioned it. The last day was supposed to be yesterday, but Gary says the Apocalypse may arrive chainwide on April 4.

UNITED STINKS: Boooo! United’s legal goon squad has cracked down on the Wandering Aramean’s award search tool. Folks, getting free trips from United isn’t just a luxury, it’s a moral imperative. Go forth, be fruitful, and multiply your miles! And as a show of support, how about a quick visit to the Wandering Aramean’s blog? Having lots of people click on one’s link is a good way to lift the spirits of bloggers getting hassled by The Man.

REAL ESATE: Never in my life would I have guessed there’s a dating service for people who like tiny houses. I first learned about this on March 31, so I don’t think it’s an April Fool’s joke, but I’m still not 100% sure. If it is a joke, it’s a pretty good one since they also built a tiny house lending site.

TOP 5 US CURRENCY DENOMINATIONS: This is a repost from January, but a reader reminded me of it yesterday and it’s still hilarious. 

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