Got A Camera And Some Free Time? Work For Google!

In an effort to gather even more information for Google Maps and to promote advertising on it, Google is offering now work (as an independent contractor) under the role of Google Business Referral Representative:

As a Google Business Referral Representative, you’ll visit local businesses to collect information (such as hours of operation, types of payment accepted, etc.) for Google Maps, and tell them about Google Maps and Google AdWords. You’ll also take a few digital photos of the business that will appear on the Google Maps listing along with the business information. After the visit, you submit the business’ info and photo(s) to Google through your Local Business Referrals Center, and we’ll pay you up to $10 for each listing that is approved by Google and verified by the business.

I think you can see an example here for the best pizza in Portland. $10 a pop? Seems easy enough on the surface; However, digging deeper I found a lot of variables that may affect your payday.

Referrals are approved by Google based on the completeness and quality of data supplied by representatives. Businesses verify their information either by sending us a response postcard or verifying their information online.

You only get $2 for each business approved by Google, and then $8 more if the business actually verifies your information. What are Google’s quality expectations? (Do you have to do an entire spiel about Adwords?) What is the likelihood that the business will verify their info? Also, it’s not clear if you can just pick any old business. You may end up earning at lot less than you think, and still owe self-employment taxes.

On the other hand, it may be fun for those that have the right combination of free time and efficiency. Get a crowded location, sell it right, and maybe make $20-$50 an hour. Soon we’ll all be working for Google in some way… Found via DumbLittleMan.

Make Money From Credit Cards: 0% Balance Transfer Profit Calculator Tool

My series of articles on How To Make “Free” Money From 0% APR Balance Transfers has been very popular and many readers have also jumped in. Despite the risks, I’m still happily earning some money from the credit card companies for a change, and haven’t missed any payments. From the beginning, people have asked me to make a spreadsheet or calculator in order to estimate the potential profit from such endeavors. I initially decided against doing so because there are lots of different variables at stake that make an exact prediction close to impossible. However, I think it may still be useful to obtain some more realistic numbers.

Without further ado, I present to you the…

0% Balance Transfer Profit Calculator

Enter savings account APY: %
Enter starting balance: $
Enter the monthly minimum payment percentage (2%) %
Your interest earned:   $
(See assumptions and definitions below)

Inputs and Definitions

  1. Arbitraged Interest Rate (APY) – Where are you putting the money you’re borrowing for free? This is the interest rate of the investment vehicle (savings account, CD, Treasury bond) you are using, or perhaps the interest rate of the existing loan (car, home equity, student) that you are paying down.
  2. Starting Balance (dollars) – How much money are you transferring?
  3. Monthly Minimum Payment (%) – Usually you must still make a monthly minimum payment on the outstanding balance during the 0% period, which will decrease your profit potential slightly. This is usually around 2%, but may vary between 1.5% and 4%.

Assumptions

  1. The balance transfer is for 12 months at 0% APR, with no balance transfer fee. You can find my list of the best 0% APR offers here with low or no balance transfer fees here.
  2. The interest is assumed to compound monthly, which allows me to convert from APY to APR, and then to a periodic rate. Compounding frequency is a variable here, but doesn’t change the numbers too much.
  3. I am ignoring the time required to actually convert the balance transfer into cash earning interest. Sometimes this can take up to a few weeks, sometimes it is much faster. Instead of guessing, I just leave it be.
  4. I am also ignoring things like grace periods and the timing of statement cycles and due dates, which can actually increase the time that your borrowed money is earning interest, and thus your profit.
  5. If you are earning interest in a taxable bank account, you will likely owe income tax on that interest at your marginal rate. This is not accounted for in the calculator, but is a simple calculation.

(If you’re confused about what I am talking about, please refer to the tutorial mentioned above.)

Example Profit Calculation
Let’s say you obtain $15,000 and place it in a bank account paying 5.25% APY, with a 2% monthly payment. Using our assumptions, the 5.25% APY is equivalent to 5.13% APR, or earning 0.4273% of the balance each month.

Beginning of Month #1: You have $15,000 in the bank. Total balance left on credit card: $15,000. Nothing is due yet.
End of Month #1: You earn $64.10 in interest, but also need to pay back $300 (2% of $15,000) out of your bank balance for the minimum payment.

Beginning of Month #2: Total in bank:$14,764.10. Total balance left on credit card: $14,700.
End of Month #2: You earn $63.09 in interest, but also need to pay back $294 (2% of 14,700).

This continues for 12 months, as shown below:

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At the end of the 12th month, your bank balance is $12,477.87, and you still owe $11,770.75 on the card. You pay it off completely, leaving you with the resulting estimated profit of $707.12.

Play around with the calculator. Some people actually have over $100,000 out at once, earning them thousands of dollars a year. My credit limits aren’t quite that high…. yet!

Free Samples of Schick and Gillette Razors

I’m running low, but hopefully with these offers below, my streak of at over 5 years of not having to pay for razors can continue… Credit goes to Bargainshare. In my opinion, all razors are uni-sex. 🙂

Free Schick Quattro Razor (don’t forget to check the box)
Free Gillette Fusion Power Razor via Sam’s Club.

Also: Regular free samples from Wal-Mart and StartSampling

$100 Signup Bonus For Chase Checking Account

Chase Bank is offering a $75 $100 bonus for opening a “Free Checking” account with direct deposit. Thanks to SoonToBeKSGrad, who found it from the post office when moving. Chase will likely perform a hard credit check, they did for me. Selected fine print below:

Offer valid from 08/01/07 through 10/31/07. A $100 minimum opening deposit of new money … Reward will be automatically deposited into your new account within 10 days of account opening …. Chase Free Checking has no monthly service fee when you have a monthly direct deposit. Checking account must remain open for six months or the reward will be debited from the account at closing.

Bank Bonuses: $100 at Bank of America, $50 at Wachovia

Could you use a new checking account at one of the big banks? Reader Susie provides some incentives for two accounts with no minimum balance or direct deposit requirements:

$100 Bonus from Bank of America for opening a MyAccess Checking account. The fine print suggests that you need a BofA credit card to qualify.

You will receive your $100 credit to your new account within 50 days of opening your new personal checking account online. […] This is a special offer to Bank of America credit card customers and only valid only for new MyAccess Checking? accounts. You must use the Offer Code CH100CTA and fund your account with the $25 minimum opening deposit requirement within 30 days in order to qualify for this offer.

$50 Bonus from Wachovia Bank for opening up a Free Checking account.

To be eligible for the offer, you must open a new Free Checking account online in good faith between 6/30/2007 and 10/31/2007 by clicking the ?Get Offer? button on this promotional landing page. By doing so, you are eligible to receive a $25 bonus for depositing at least $100 in new funds into the account as well as an additional $25 bonus for posting $100 in direct deposits into the same account, within 90 days of the account opening date.

$50 Signup Bonus For TradeKing Brokerage With Referral

TradeKing.com has a new $50 sign-up bonus expired! for new accounts as part of celebrating National Friendship Day. If you get a referral from an existing account holder, fund it with at least $1,000, and make a trade before August 30, both people will get $50. I actually opened an account several months ago for the sign-up bonus myself, and am up over 20% with my single share of VDE. 🙂

Anyways, if you’d like a referral just hoot me an e-mail, and I’ll be happy to send you one. I only need your e-mail address. This offer expires on August 9th.

For more information on TradeKing, please check out my TradeKing Broker Review.

Another Free iPod Nano Offer From KeyBank

KeyBank is once again offering a free iPod Nano for opening a checking account and making either two direct deposits or automated payments of $100 or more. Last time around, online ACH transfers from another bank worked fine as a direct deposit, there was no hard credit pull done, and I got my iPod as promised. The catch is that I think you must live in an area that KeyBank serves to open an account. They state that the value of the iPod will be reported on a 1099-INT, although I can’t recall if I got one for 2006.

altext

Selected Fine Print:

You must open a Key Express Free Checking (this is the basic banking account in NY) or a Key Advantage Checking Account between July 21, 2007 and August 24, 2007, and make a combination of two direct deposits and/or automated payments each of $100 or more by October 26, 2007 and you will receive your iPod? by December 15, 2007. Automated payments excludes Key Bill Pay and debit card automated payments. Offer available to individuals without an existing checking account at KeyBank as of July 20, 2007…

Updates on the American Express Gold Card 25,000 Mile Bonus Offer

The New Business Gold Rewards Card from American Express Image

Update: The below promotion is now expired. The New Business Gold Rewards Card® from American Express OPEN now offers 3X points on airfare, 2X points on advertising, gas, and shipping and 1X point on everything else. The annual fee for this card is $175 but it is waived for all new cardholders. You can also get unlimited additional gold cards for an extra annual fee of $50 but this fee is waived for the first year as well.

I finally got around to opening some mail today and saw that my New Business Gold Rewards Card® from American Express OPEN arrived. I had almost forgotten I had applied for it in the whole move. (I convinced my wife to apply as we could really use the 25,000 Membership Reward sign-up bonus as frequent flier miles.)

As has been reported by other readers, the paperwork that came with it only mentions a bonus of 5,000 points after the first purchase and another 20,000 after spending $50,000. I really wanted to get to the bottom of this, so I called American Express and talked with multiple reps about the bonus. I explained to them that the wording is very clear, I have the specific bonus code, and is the offer still up after more than two weeks, so it is clearly not some unintentional misprint:

Upon the Basic Cardmember’s first purchase, a one time bonus of 25,000 points can be earned toward the Basic Business Gold Rewards Cardmember’s Membership Rewards? account and may appear as separate credits of 5,000 and 20,000 bonus points.

Most of the reps seemed like robots and just sounded confused as this wasn’t on one of their scripts, so I just ended the call quickly in that case. But two of them were familiar with this promotion, and said that they had already fielded several calls about it. The summary:

1. The same paperwork goes out to everybody, and what is mentioned is the standard, older promotion. This doesn’t mean you won’t get the 25,000 points, as this special promotion does exist and is valid.
2. The problem is that they can’t tell on their computers which promotion you signed up for. However, it should be tracked in their systems internally if you used the right link. I would keep a print-out of your page. If you want, you can call them and ask them to note specifically the Bonus ID 2329 on your account, which may help you dispute if anything does happen later.
4. Otherwise, there is really nothing you can do right now. Personally, I am confident that they will come through, as I have already scored $100 + 5,000 miles from the same card last year, and in that case nothing about any bonus was mentioned in the paperwork that came with the card! I’m just going to make my first purchase quickly, tuck it away, and wait the 6-8 weeks.

Sign-up Bonus: Free $15 OboPay PrePaid Credit Card

Free $10 Obopay Prepaid MasterCard?In celebration of getting $29 million in new financing from investors, Obopay is offering a free $15 Prepaid MasterCard for signing up for their service. They seem to also be a money transfer service like PayPal mobile.

Never carry cash again.

Send money instantly from your cell phone, online, and even AOL Instant Messanger.

Receive money in 10 seconds and spend it with Obopay Prepaid MasterCard?.

The $15 offer expires at the end of July 13th.. The $15 promo is expired, but they are still offering $10 free. There are no monthly maintenance fees for the card. Thanks to Sri for the tip.

25,000 WorldPoint Bonus For Bank Of America Credit Card

Bank of America is offering 25,000 Worldpoints for signing up for the University of Iowa WorldPoints MasterCard and spending $250. You can redeem 25,000 Worldpoints for $250 cash or a plane ticket. Via Fatwallet.

?To qualify for this offer, your new account must be used to make any combination of purchase, cash advance or balance transfer transactions totaling at least $250 (exclusive of transaction fees, if any). Please allow 8-12 weeks for the 25,000 bonus points to be credited to your account after qualifying.

Alternatively, American Express has their New Business Gold Rewards Card® from American Express OPEN which offers 3X points on airfare, 2X points on advertising, gas, and shipping and 1X point on everything else.

$100 Bonus For New Citibank Ultimate Savings Account

Here’s a good promotion from Citibank if you are a brand new customer: You can get a $100 signup bonus for opening a Citibank Ultimate Savings account that pay 4.65% APY with no minimum balance requirements.

To qualify for this offer you must apply for and open a new Ultimate Savings Account by 08/31/2007. $100 will be credited to your Ultimate Savings Account within 90 days from the end of the statement period in which your account was opened. Account must be in good standing at the time of the $100 credit.

Keep in mind that Citibank has historically always done a hard credit pull for new bank applicants (for no good reason). Thanks to Vijay and Sharon for the tip.

Now, there are certainly other online banks that may be more convenient or pay more interest, so you may just want to sign up for the Benjamin.

LifeLock Review: DIY and Protect Your Identity For Free

You’ve probably seen commercials for a service called LifeLock, which offers identity theft protection services ranging from $10 to $30 a month. After a $12 million settlement with the FTC over deceptive marketing practices, they are again in trouble with the FTC over… their deceptive marketing practices. The main problem that I have with this service is that they are charging you for things you could do yourself, and often you will have to do it yourself even if you pay them.

Here’s what they used to say:

First, we ask the credit bureaus to set fraud alerts on your behalf. Usually, this is done through our automated systems and the alerts are set within an hour. From time to time there may be a hitch and we have to do the first one manually, usually because they have a different address on file for you. If this happens, we’ll tell you right away and do what needs to be done to get the alerts set.

Since then, I believe the credit bureaus have gotten angry at Lifelock (making money off of your data is their job!) and now you have to set the credit freezes yourself.

Free – Just call the numbers below. Technically, alerting any single bureau should automatically initiate fraud alerts on all of them, but it may be more reliable to simply call each one separately.

* Equifax: 800-685-1111; Fraud Dept. 800-525-6285
* Experian: 888-397-3742 (same for Fraud Dept.)
* Trans Union: 800-916-8800; Fraud Dept. 800-680-7289

I should note that this will also hinder your ability to get quick approvals for things like auto loans or credit card applications. One good tip is to use your cell phone as the contact number so that the bureaus can quickly verify your identity when you really do want to apply for credit.

Second, unless your circumstances change and you tell us not to, every 90 days or so we ask the credit bureaus to do it again.

Free – Use Google Calendar (also free) to e-mail you a reminder to call again in 90 days. Rinse and repeat.

Third, we request that your name be removed from pre-approved credit card and junk mail lists and we keep making the requests as they expire. Statistics show that this is one of the most common ways that thieves hijack identities. Plus, all that mail is just so irritating. Many of our clients tell us that this alone is worth the price.

Free – Just go to OptOutPrescreen.com to get removed for 5 years. I’m probably in the minority here, but I kind of like getting pre-approved offers myself, it helps me track trends in interest rates, special offers, and gives me an idea of how good my credit score is.

Fourth, we order your free credit reports on your behalf from the major credit bureaus and they are sent directly to you. We do this every year.

Free – Yet another feature that is free to all by the Fair Credit Reporting Act, and can be found at AnnualCreditReport.com. In fact, here are 4 more ways to get a free credit report. One of them is simply placing a fraud alert as described about. If you keep setting one up every 90 days, you can technically get a total of 15 free reports every year (3 credit bureaus x 5 each).

Last, but certainly not least: If your Identity is stolen while you are our client, we?re going to do whatever it takes to recover your good name. If you need lawyers, we?re going to hire the best we can find. If you need investigators, accountants, case managers, whatever, they?re yours. If you lose money as a result of the theft, we?re going to give it back to you. We will do whatever it takes to help you recover your good name and we will spend up to $1,000,000 to do it.

Not free. But, you can get lower levels of identity theft protection for free at various financial institutions like your local credit union or at many major banks, just for having an account with them.

So, is the convenience of LifeLock, as well their $1 million dollar insurance policy worth $110-120 a year? My vote is no. Although I’m sure that identity theft can be very painful and costly, if you really did all the free things above your chances of being affected are very slim. The time saved is minimal and the “million dollar guarantee” seems to be overkill and more of a marketing ploy. If anything, I’d use the money to go buy a good paper shredder instead.