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BoA Premium Rewards Credit Card Review (2026.10 Update: 60k Offer + Additional $425 Bonus From Rakuten!)
[2026.10 Update] Besides the 60k offer provided by BoA itself, third party website Rakuten offers an additional $425 cashback! This is the best ever offer on this card! Note that if you choose to earn MR on Rakuten you may see $0 additional cashback, you need to choose to earn cashback on Rakuten. We no longer track the additional cashback from Rakuten (unless there’s a best ever offer) because it changes too frequently.
[2023.6 Update] The new offer is 60k. This is the highest offer on this card.
Application Link
Benefits
- 60k offer: earn 60,000 points after spending $4,000 in first 90 days. This is the highest offer on this card.
- Points can be redeemed as statement credit or deposited into BoA Checking/Savings account at fixed ratio 1.0 cent/point. You can also use them in BoA Travel Center or choose to redeem for gift card. Therefore the 60k offer means $600 value.
- Earning 2x points per dollar spent on travel and dining, earn 1.5x points elsewhere.
- BofA Rewards credit card rewards bonus: if you have a BoA checking account and your combined assets in BoA bank accounts + Merrill Edge investment accounts reach certain thresholds, you can receive a credit card rewards bonus. The most useful tiers include: Preferred Honors, which requires more than $100k in assets and provides a 50% rewards bonus; and Premier, which requires more than $1M in assets and provides a 75% rewards bonus.
- $100 airline incidental credit per calendar year, you can use it on seat upgrade, baggage fees, lounge fees or inflight purchases.
- $100 credit toward TSA Pre or Global Entry.
- No foreign transaction fee.
Disadvantages
- $95 annual fee, not waived first year.
Recommended Application Time
- We recommend you apply for this card after you have a credit history of at least one year.
- 2/3/4 Rule: BoA will only approve you for at most: 2 cards per rolling 2 months; 3 cards per rolling 12 months; and 4 cards per rolling 24 months. Because their IT system hasn’t been fully updated yet, you may not get declined because of this rule. Instead, you may get approved at first, and then the account will be closed because of “approved in error”.
- 24 month churn rule: This card will not be available to you if you currently have or have had the card in the preceding 24 month period.
Summary
This is basically a cash back card. A $95 annual fee paired with 2x on travel and dining and a 1.5x base earning rate is not too bad. Compared with cards like the CSP, it lacks the ability to transfer points to travel partners — although BoA has never offered that feature anyway. One highlight is the $100 annual airline incidental credit per calendar year, which is relatively easy to trigger, so at least the annual fee should be fairly easy to offset.
One of BoA’s biggest advantages is the rewards boost for customers with substantial assets. Suppose you have $100k in assets at Merrill Edge and qualify for the Preferred Honors tier. With the +50% rewards bonus, you would earn 3x on travel and dining and 2.25x on all other purchases! That is a very strong return for uncategorized spending. If you have $1M in assets and qualify for the Premier tier, you would earn 3.5x on travel and dining and 2.625x on all other purchases, which is even better.
If you ever decide that you no longer want to pay the annual fee on this card, don’t forget that BoA also offers the BoA Unlimited Cash and BoA Travel Rewards as downgrade options. Both have no annual fee, earn 1.5x on all purchases, and are also eligible for up to a 75% rewards bonus.
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- Click here to check BoA application status.
- BoA reconsideration backdoor number: 800-732-9194. It seems that the number is changing. Please inform us at once if it fails. The representatives here can get in touch with decision-makers directly.
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Prediction: The Number That Will Move Intel Stock in October Isn’t Revenue
Intel (INTC +0.55%) will post its third-quarter results after the bell on Thursday, Oct. 29. If the past year is any guide, revenue could be the least surprising number in the release.
Intel’s revenue has topped its own forecast in seven straight quarters. And the latest one wasn’t close: Second-quarter revenue of $16.1 billion was $1.8 billion over the midpoint of management’s guidance. Investors have noticed. Shares trade near $114 as of this writing, about triple where they began 2026.
But a business can sell more chips than it planned and still struggle to profit from them. I think the number that matters most this month is Intel’s gross margin (the percentage of sales Intel keeps after paying to build its products). And its climb has slowed sharply.
Image source: Intel.
Revenue has been the easy part
For the third quarter, management forecast revenue of $15.8 billion to $16.8 billion. The $16.3 billion midpoint works out to about 19% growth year over year, a drop from the second quarter’s 25% rate. Yet that’s strong for a business whose revenue was flat in 2025.
Hitting the range could depend more on Intel’s factories than on its customers. In its second-quarter filing, Intel said demand for both its PC and server chips exceeded the supply it had available, and it expects industrywide shortages of substrates, memory, and other parts to run into next year. That means revenue will probably track how many chips Intel’s plants can make.
Gross margin is different. It reflects yields at those plants, the early costs of ramping Intel 18A (its latest manufacturing process), what Intel pays for memory and other inputs, and the prices it can charge.
Is the margin still climbing?
Intel’s non-GAAP (adjusted) gross margin was 37.9% in the fourth quarter of 2025. It jumped to 41% in the first quarter of 2026, then inched up again in the second quarter, to 41.8%. For the third quarter, management forecast around 42% (41% on a GAAP basis). Each rise has been smaller than the last — a gain of 3.1 percentage points, then 0.8 points, then a guided 0.2 points. Plus, 42% would be only around 2 points over the 40% Intel reported for the third quarter of 2025.
Intel’s margin beats have been shrinking, too. The first quarter’s 41% topped Intel’s 34.5% guidance by around 6.5 points, helped partly by sales of previously reserved inventory.
The second quarter’s 41.8% beat the 39% guidance by around 2.8 points, helped by higher factory yields.
“We were very pleased with Q1 gross margins and we will continue to push for gross margin expansion. It is my top priority,” CFO David Zinsner said in April, in his comments on Intel’s first-quarter results.
In those same comments, though, Zinsner said Intel 18A was still early in its ramp and that climbing input costs, especially memory, were “growing headwinds in the second half.”
The valuation needs more than 42%
At the guided revenue midpoint, one percentage point of gross margin is worth around $160 million of gross profit a quarter. That’s about 6% of the $2.8 billion in adjusted operating income Intel earned in the second quarter.
And the share price leaves little room for a margin that stalls. At around $114, Intel has a price-to-earnings ratio of about 55 using expected 2027 earnings. Measured against its adjusted earnings over the last four quarters, the ratio is above 100. Investors are already paying for profits that haven’t arrived yet.
Today’s Change
(0.55%) $0.62
Current Price
$113.12
Key Data Points
Market Cap
$598BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Day’s Range
$111.14 – $115.30
52wk Range
$32.89 – $142.35
Volume
82.9M
Avg Vol
106.7M
Gross Margin
39.05%
To be fair, the margin might keep rising. Intel said in July it had lowered the cost of its main Panther Lake chip made on 18A by around 50% so far in 2026, with another 20% drop expected by year-end.
But spending is climbing, too. Intel lifted its 2026 capital spending outlook to over $20 billion and expects 2027 spending to be much higher. New factories and equipment carry depreciation costs that might hurt gross margin when they come online.
Another revenue beat on Oct. 29 might be welcome, but it likely won’t tell investors much they don’t already know. A gross margin comfortably above 42%, plus a fourth-quarter forecast that keeps it rising, would arguably show the turnaround reaching profits.
A margin that just meets the 42% forecast, though, might not cut it for a stock priced for a comeback. At a price-to-earnings ratio around 55, I think Intel needs that number climbing faster than its own forecast suggests.
State by State Guide To First Home Owner Grants in Australia
Buying property is expensive, and getting an initial foothold in the market can seem an impossible task.
Fortunately, many state and territory governments have recognised this and provide eligible first home buyers with a leg up in the form of grants, as well as stamp duty concessions.
More than 20 years on from their introduction, the grants, often abbreviated as FHOGs (first home owner grants), remain popular initiatives to help home buyers break into the housing market.
What are first home owner grants?
First home owner grants are administered by various state and territory governments, so the details can fluctuate between jurisdictions.
They range in value from $10,000 to $50,000 and are commonly only available to first home buyers building their own home or purchasing a dwelling that hasn’t been lived in before.
They can also sometimes be used to bolster a buyer’s deposit, making the grants particularly attractive to many potential first home buyers – but they are not open to all.
For starters, the ACT doesn’t offer a first home buyer grant. Instead, it offers a waiver of stamp duty to all first home owners, regardless of home value or income levels (from 1 July 2026).
Additionally, there are various price caps that apply to receiving a FHOG.
Here’s a summary in the table below (as at June 2026):
| State/Territory | Value of grant | Eligible property | Property value limit |
|---|---|---|---|
| Northern Territory (NT) | $50,000 | New homes | No limit |
| Queensland (QLD) |
$30,000 $15,000 after 30 June 2026 |
New homes | $750,000 |
| South Australia (SA) | $15,000 | New homes | No limit |
| New South Wales (NSW) | $10,000 | New or substantially renovated homes | $600,000 ($750,000 for house and land new builds) |
| Victoria (VIC) | $10,000 | New homes | $750,000 |
| Western Australia (WA) | Up to $10,000 | New or substantially renovated homes | $800,000 (south of 26th parallel) $1 m (north of 26th parallel) |
| Tasmania (TAS) | $10,000 (some applicants may be eligible for another $10,000) | New homes | No limit |
| Australian Capital Territory (ACT) | N/A | N/A | N/A |
If you’re after more specific details on the grants, as well as information on stamp duty waivers and concessions, you also can find them on this page – just keep scrolling!
If you’re still unsure whether your purchasing plans tick the box, it’s advised you turn to official state or territory government sources or reach out to an independent expert for advice.
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
6.19% p.a. |
6.23% p.a. |
$3,059 |
Principal & Interest |
Variable |
$0 |
$530 |
90% |
|
Promoted |
Disclosure | ||||||||||
|
5.89% p.a. |
5.80% p.a. |
$2,962 |
Principal & Interest |
Variable |
$0 |
$0 |
80% |
|
Promoted |
Disclosure | ||||||||||
|
6.33% p.a. |
6.33% p.a. |
$3,105 |
Principal & Interest |
Variable |
$0 |
$395 |
80% |
|
Promoted |
Disclosure | ||||||||||
|
5.99% p.a. |
6.01% p.a. |
$2,995 |
Principal & Interest |
Variable |
$0 |
$150 |
60% |
|
Disclosure |
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
First home owner grant eligibility requirements
Eligibility criteria for individuals signing up for first home owner grants vary between each state and territory.
As discussed above, many require a buyer to be purchasing or building a new property within set expenditure limits.
On top of that, they will typically need to meet the following eligibility criteria:
- At least 18 years old
- Haven’t owned a property previously or within the last few decades
- Must apply for the grant within 12 months of settlement
- Must intend to live in the property after purchasing
How do you apply for the first home owner grant?
There are generally two ways to apply for the grant: either by lodging the application yourself through your state or territory revenue office, or through an approved bank or lending institution.
The grant is usually paid to your lender at the time of settlement and applied directly to your home loan. If you are building a house, the grant will be approved when your first loan repayment is due.
If you are doing things by yourself, it is highly suggested that you apply for the grant as soon as you can after your settlement date.
You must remember that in order for your purchase to qualify for the grant, an application must be made within one year of the completion of the transaction.
Detailing first home owner grants: State-by-state breakdown
At the time of writing, every state and territory in Australia, except the ACT, offers some form of a FHOG. [Instead, the ACT offers generous stamp duty exemptions to all first home buyers, regardless of home value.]
Other states may also waive or charge concessional rates of stamp duty for particular first home buyers.
Here’s how much you could get from the grant and any eligibility criteria that may apply, depending on your state or territory.
NSW First Home Owner Grant
The NSW First Home Owner Grant is worth $10,000 and is available on new home purchases worth up to $600,000 and new home buildings worth up to $750,000.
The NSW Government also doesn’t charge first home buyers stamp duty on properties valued at up to $800,000, or vacant land valued at up to $350,000.
It offers discounted stamp duty for first time buyers purchasing properties worth between $800,000 and $1 million and land worth between $350,000 and $450,000.
To learn more, visit Revenue NSW.
Victoria First Home Owner Grant
In Victoria, first home buyers who are buying or building a new home may be eligible to receive a $10,000 grant.
The grants are only available on new properties valued at $750,000 or less.
The Victorian government also waives stamp duty for first home buyers purchasing properties valued up to $600,000. It promises discounted rates for properties worth between $600,000 and $750,000.
Visit the State Revenue Office of Victoria for more information.
Queensland First Home Owner Grant
Queensland doubled its first home owner grant in November 2023, bolstering it from $15,000 to $30,000. But the grant is set to revert to $15,000 from 1 July 2026.
Buyers can take advantage of the respective grants according to when their contracts were entered although the home being built must not be value at more than $750,000 to be eligible.
The Queensland government also waives stamp duty for all first home buyers entering into a contract to purchase a new-built home to live in (or vacant land to build one), regardless of the value of the home.
For established home, first home buyers purchasing property up to $700,000 or vacant land for less than $350,000 do not have to pay stamp duty. Concessional stamp duty rates apply for properties purchased for up to $800,000 and land purchased for up to $500,000.
For more information, visit the Queensland Revenue Office.
South Australia (SA) First Home Owner Grant
Eligible first home buyers in South Australia can qualify for a $15,000 grant if they are buying or building a new home, no matter its market value.
The state also doesn’t charge stamp duty on property purchases made by first time buyers, as long as they are building or buying a new dwelling. (Stamp duty still applies to first home buyers purchasing
Visit Revenue SA for more information.
Tasmania First Home Owner Grant
Eligible first home buyers in Tasmania could receive up to $20,000 if they are purchasing or building a new home from 1 July 2026. (This is down from $30,000 in the prior period.)
The grant will be made up of a $10,000 grant with an additional payment up to $10,000 available if certain criteria are met.
Unlike other states, there is no limit on the purchase price of the property.
The Apple Isle is also reinstating full stamp duty on first home buyers who purchase established homes from 1 July 2026.
Visit the State Revenue Office of Tasmania for more information.
Western Australia (WA) First Home Owner Grant
Eligible first home buyers can receive a $10,000 grant towards buying or building a new home.
How much an eligible buyer can spend on their property and still receive the grant depends on the property’s location.
The combined cost of land and building of a home in the Perth metropolitan area (south of the 26th parallel) must not be valued at more than $800,000 (as at 7 May 2026).
Meanwhile, houses north of the 26th parallel can be valued at up to $1 million.
The WA Government doesn’t charge first time buyers stamp duty if they’re buying new build or established homes valued up to $600,000 with a concessional rate applied to home valued up to $800,000.
No duty is payable for vacant land valued up to $450,000 with a concessional rate applied to vacant land valued up to $550,000.
Visit the WA Government site for more information.
Northern Territory (NT) First Home Owner Grant
Eligible first home buyers can receive a $50,000 grant towards buying or building a new home when signing a contract between 1 October 2024 and 30 September 2025.
Like Tasmania, there is no specified limit on the purchase price of the property.
The territory also doesn’t offer any specific first home buyer stamp duty discounts.
Visit NT Government for more information.
ACT First Home Owner Grant
The ACT doesn’t offer any FHOGs at the time of writing.
Instead the ACT government offers a full stamp duty exemption to all first home buyers in the territory regardless of home value (from 1 July 2026).
Visit ACT Revenue Office to learn more.
Australian first home buyer grants: FAQs
Buying your first property can be both exciting and nerve-wracking, and it can seem like there’s no end to the information that needs to be considered.
With that in mind, here are some of the most common questions about FHOGs in Australia.
When will the grant be paid?
When a grant will be paid is be dependent on many factors, including the state and territory a buyer resides.
In some cases, the grant might be paid at the time of settlement or when the first drawdown of the loan occurs, particularly for new home constructions.
In other cases, it might be paid upon the issuance of a final inspection certificate or completion of an eligible transaction.
For the most accurate and detailed information regarding the payment timing of the FHOG in each state or territory, it’s best to turn to the relevant state or territory revenue office or their official website, which can be found above.
Am I allowed to use the grant as a deposit?
If you are applying for a FHOG through an accredited agent and while in the process of purchasing a home, you could use the grant as a deposit.
However, you would still need to shell out, since the grant is generally not enough to be considered an entire deposit. It is highly advisable that you talk to your mortgage broker to know more about using the grant as your deposit.
When you apply on your own, however, you may not be able to use the grant as a deposit as you would have already applied for a loan and settled on the property.
If you’re concerned about the size of your deposit, it could be worth considering turning to the 5% Deposit Scheme.
Will my income affect the amount of the grant?
No state or territory applies a means test to receiving a FHOG. This means your income will not impact your ability to receive the grant.
As long as you fit the eligibility requirements and your property is within any value cap, you can apply for the grant.
Can I apply for the grant if I inherit the property?
The purpose of the grant is to help first-home buyers finance their home purchase.
If you inherit a property and you plan to apply for the grant, do not expect to get approved.
If I have a property outside Australia, will I still be eligible for the grant?
Generally, states and territories specify that a person turning to the grant must not have owned Australian property either ever before or within the last 25-odd years.
If you own a property outside of Australia, this mightn’t automatically disqualify you, but the specific rules of each state or territory should be checked.
It’s recommended to consult the relevant state revenue office for detailed information and clarification.
Would buying an existing home qualify me for the grant?
Each state has its specific rules surrounding the type of home that qualifies for the grant.
At the time of writing, all states and territories only offer the grant to first home buyers purchasing new homes, substantially renovated homes, or vacant land on which they are building upon.
However, those buying established homes might be able to have their stamp duty discounted or waived depending on the state or territory they’re buying in.
Image by Clément Falize via Unsplash
First published in April 2025
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Comparing Short-Term Rental Insurance? 5 Questions That Reveal What You’re Actually Looking At
A screwdriver, a hammer, a saw, and a wrench come from the same toolbox but are for different jobs. You wouldn’t grab one at random and expect it to do what you need for a specific project. You’d reach for the one built for the task in front of you.
When you begin shopping for short-term rental insurance, depending on where you look and who you ask, it can feel like you have plenty of options. They end up in the same conversation, but they’re completely different products. Before you can accurately compare anything, you have to understand what you’re actually looking at.
A short-term rental insurance policy has a specific definition. It isn’t a homeowner’s (HO) policy with a home-sharing endorsement bolted on like a sidecar, a landlord policy written on a dwelling (DP) form with a permission slip for short-term rentals tucked inside, or a supplemental product stretched over another policy like a tarp to cover the gaps.
Short-term rental insurance means a short-term rental policy: the primary insurance contract on a home rented to guests for short stays. This applies no matter what the product is called—short-term rental, vacation rental, or Airbnb insurance.
Short-term rental insurance is a stand-alone product, built as the primary insurance contract on a home rented to guests for short-term and mid-term stays.
The good news is that you don’t need to become an insurance expert yourself to tell the options apart. Five questions reveal what you’re actually looking at and whether the options in front of you belong side by side in a comparison at all.
1. Is Your Short-Term Rental’s Coverage a Stand-Alone Policy?
Start here, because before you compare premiums or coverage limits, you need to understand what role the product is actually playing.
A short-term rental insurance policy stands on its own as the primary insurance contract on the property. It replaces whatever policy is on the home now.
That separates it from a product designed to sit on top of another: a home-sharing endorsement modifies a homeowner’s policy, and supplemental host protection may add coverage around certain guest stays or exposures. Both can provide some useful protection, but neither is the primary policy on the property, and neither was built to cover the whole risk on its own. When coverage is split across two products, a claim can fall into the gap between them.
If the hosting coverage only works because a homeowner’s or landlord’s policy is still in force underneath it, what you have is an add-on or a supplemental product—not a policy that stands on its own.
On the declarations page: Your name should be listed as the named insured, and this should be the only policy on the short-term rental property. If this coverage can’t exist without another policy underneath it, that’s your answer.
2. Does It Cover the Property No Matter How It’s Being Used?
A short-term rental doesn’t sit in one occupancy box. It’s booked, empty, between guests, or used by you, sometimes all in the same month.
A short-term rental insurance policy covers the property across those normal shifts in use. It doesn’t hold a vacancy clause, a day-count limit, or a primary-residence requirement that reduces coverage the moment the calendar goes quiet.
If coverage depends on the home being occupied a certain way, lived in as your primary residence, or held under a fixed tenancy by a resident with a lease, it was written for a different kind of property. A short-term rental turns over constantly, and the coverage has to hold through every version of that.
On the declarations page: Check how occupancy is classified. If it reads tenant-occupied, the policy was generally built around a resident with a lease. Then check for a vacancy clause, an occupancy or day-count limit, or a primary-residence requirement. A short-term rental policy doesn’t restrict coverage based on any of these factors.
3. Does the Policy Say Personal Liability, Premises Liability, or Commercial General Liability?
“Personal liability,” “premises liability,” and “commercial general liability” are not interchangeable terms, and the difference decides how far your protection reaches. Read the liability line on the policy and see which one it names.
- Personal liability is tied to you as a person, rather than to a property or a business. It is designed to respond wherever you or your family happen to be, but it stops where business activity begins.
- Premises liability is tied to the boundary line of the property itself. It is designed to respond to covered claims that happen on the premises, but it stops at the property line, even though the incident is tied to your rental’s business activity.
- Commercial general liability is built for the exposures of operating a rental, and it extends beyond the property line to follow your guests, including when they leave the property to ride the bikes, take out the kayak, or head down the street.
Your guests don’t stay put, so coverage that stops at the property line leaves a gap the moment they step off it. For a short-term rental business like an Airbnb that runs on people coming and going, the type of liability on the policy matters as much as the limit.
On the declarations page: The liability line should say “Commercial General Liability,” not “Premises Liability.” A number like $1 million tells you how much coverage you have; the type of liability tells you the boundary that figure responds in.
4. Does It Cover the Building AND What You Put Inside It?
A short-term rental is a furnished, active income-producing property, so the structure is only half of what’s exposed. You will want to check that the coverage for your Airbnb protects both the building and the contents you own inside it.
The building coverage is designed to pay to repair or replace the structure after a loss like a fire or water damage. The contents coverage protects what you furnished the place with to operate it: the beds, sofa, appliances, kitchenware, and smart TV. On a short-term rental, that coverage should also respond when a guest is the one who damages or takes something, since handing the keys to a stranger is the normal way the property runs.
A homeowner’s policy covers contents but only as your personal belongings in a home you live in, not as the business furnishings of a property you rent to guests.
A landlord policy is built around the structure and leaves contents coverage largely to the tenant, who in most long-term rental situations has renters insurance.
Even a home-sharing endorsement added to a homeowner’s policy is a patch on that residential foundation, not coverage designed around a furnished rental operation.
A short-term rental carries real value in its furnishings. Without the furnishings, there would be no income. So, the short-term rental insurance policy has to insure that value the way it also insures the building.
On the declarations page: Look for a contents or business personal property limit, and check that it reflects what you’ve actually furnished the place with. A structure-only policy leaves everything inside it uncovered.
5. Does It Insure the Business Income Your Short-Term Rental Generates?
A short-term rental earns income based on bookings, not a fixed monthly rent, so the coverage has to match how the property actually makes money. The term to look for is “business income.”
When a covered loss takes the property out of service, the repair bill is only part of the damage. The other part is the income you can’t earn while the property is down.
Business income coverage is designed to respond to that interruption, based on what your short-term rental actually earns.
“Loss of rents” is the term you’ll find on a landlord policy, and it’s tied to a long-term rental model: roughly what a long-term tenant down the street would pay, which is often a fraction of what a short-term rental brings in over the same stretch.
Loss of use is homeowner’s coverage for your own personal living expenses when you can’t live in your home, a third thing entirely.
That gap is the whole point of this question. Two policies can be described as covering lost income but be built around completely different numbers. Short-term rental insurance is measured against your property’s real earnings. A landlord policy is measured against the neighborhood’s average long-term rent.
On the declarations page: The coverage should read “business income,” not “loss of rents.” The same three words, “covers lost income,” can describe either one, so the term is what tells them apart.
Putting the Five Questions to Work
Run these five questions, and the insurance picture clears up fast. The options that looked comparable start to separate, because you’re no longer comparing prices. You’re comparing what each product is actually built to do.
That’s also when the vast differences in price between the products make sense. A lower-cost add-on and a stand-alone policy aren’t the cheaper and more expensive versions of the same thing. They’re doing different jobs.
When one option costs significantly less, it’s almost certainly not a discount on the same coverage. It’s a different product entirely, one with far less coverage.
You can do the verification yourself. Take these five questions to your agent or drop this blog into AI with your full policy, ask either one on any policy you’re weighing, and get every answer confirmed in writing. It’s real work, and you should repeat it any time you are comparing short-term rental coverage for as long as you own the property, but it’s absolutely doable.
Or you can work with a company built to address all five questions from the start. Short-term rental insurance is Proper Insurance’s only focus: A stand-alone short-term rental policy that replaces your current coverage, stays fully on however it’s used, carries commercial general liability that follows your guests, insures the building and the contents inside it, and provides business income coverage calculated from your property’s actual rental revenue.
5 Magic Phrases to Be More Likable
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Some people are natural conversationalists. I’m not one of them.
Like many people, I’ve always felt awkward in conversation. That’s especially hard as an entrepreneur, where talking to people is half the job. Good conversations can drive our businesses and relationships. We like to buy from, work with, and collaborate with people who are easy to talk to.
That’s why I spent the past two decades studying the patterns of master conversationalists for my latest book, Conversation: How to Connect with Anyone & Make Every Interaction Count. I learned that people who come off as instantly likable use certain phrases over and over again to build rapport. Now I’m passing those phrases along so that you can use them in team meetings, investor calls, and client sessions to make your small talk infinitely better.
The phrases involve compliments and moments of connection, so only use them if they feel authentic. Never fake it. Here are five to try.
1. ‘I was just thinking about you!’
Everyone likes to be remembered. So telling someone, “I was just thinking of you!” immediately sparks connection. For example, I wanted to check in with a certain VIP but wasn’t sure how. She had been on my mind, so I just reached out and told her exactly that. Here’s what I sent:
→ Subject: I was just thinking about you! I stopped by the pier this weekend and stumbled upon the national skimboarding competition! Of course, it made me think of you. Did you ever end up designing your own board? I took a video of the winning skim, attached. Incredible, right?
She immediately wrote back raving about the video I sent and attached a picture of the skimboard she had designed. It triggered a request for a catch-up call, then a taco breakfast, and then an invite to speak at her company’s corporate retreat.
This is a powerful phrase you can use absolutely anywhere. For example:
→ If someone pops into your head, text them: “Hey! I was just thinking of you and wanted to check in. Anything new and exciting?”
→ If you see something that reminds you of someone in your life, share it with them and say, “I just saw this amazing [blank], and it made me think of you!”
→ If you need to reach out to someone, say, “Long time no talk. Someone recently mentioned a [blank], and, of course, I thought of you.”
These are casual, immediately put someone at ease by reminding them they are top of mind, and make them feel good. Magic.
2. ‘Tell me more!’
The research is clear: Asking people questions, especially follow-up questions, makes you more likable. It shows that you’re engaged, responsive, and genuinely interested.
And here’s the simplest follow-up of all: Just say, “Tell me more!”
For example, I once visited the emergency room for very bad food poisoning. (I was fine, but I’ll never eat scallops again.) My nurse seemed grumpy, but I was very grateful for her help and wanted her to feel appreciated. I noticed a little pin above her name badge, so I asked, “Is that a pin for Mellow Velo? I just walked by there last week. It’s a bike spot, right?”
She brightened. “Yes! I’m an avid biker and I’m helping them organize a big bike ride for families.” I was tired and wasn’t sure what to say next. I also don’t know how to ride a bike (true, and embarrassing). So I just said, “Tell me more!”
Then off she went, telling me about their great local initiatives. She spent far longer in my room and stopped by frequently to check on me (once with a warm blanket!).
Here’s an advanced way to use this question. Let’s say someone is mid-story at a networking event or group dinner, and they get interrupted. The waiter arrives, someone asks for the salt, and the conversation shifts. The person might never get to finish their story — unless you say, “You were saying something so interesting. Please tell me more!” They’ll love you forever.
3. ‘Last time we were talking, you mentioned…’
Want to become effortlessly likable with someone you’ve met before? Just say: “Last time we were talking, you mentioned…” paired with something that lit them up the last time you talked.
For example, you could say: “Last time we spoke, you mentioned you were going to Greece on vacation. How was that?” Or ask about the big project they mentioned, or a show you both love.
This packs a powerful emotional punch. It shows that you pay attention, have a good memory, and consider them worthy of being memorable.
In fact, this is how Earvin “Magic” Johnson first impressed the woman who became his wife, Cookie. They attended a Michigan State University party. Shortly after, Magic showed up at her dorm room with a carefully selected surprise — yellow roses, because she had mentioned she likes yellow. It was, she said, the “sweetest thing any guy who’d ever showed romantic interest in me had done.”
4. ‘Same here!’
Research consistently shows: We like people who are like us. We’re more likely to start conversations online with people whose profiles show shared interests. Teams collaborate better when members have shared interests. And we’re even more likely to be persuaded by someone we can relate to.
This is why, at the start of a negotiation or meeting, it can be valuable to highlight mutual likes — to make someone say, “Same here!” The common ground can be as simple as your age, hometown, or background.
I discovered this myself in 2025, when I got an unexpected email from Khloé Kardashian’s team. They said she’s a fan of my work(!) and wanted me on her podcast. I’d never met someone so famous, and I was terrified of the small talk we’d have before the interview. So I made a list of things we have in common to spark “same here!” moments — like how we both attended all-girls schools and we both have two kids. I told her these when we met, and it was like activating instant bestie mode. Suddenly, everything flowed. When our recording was done, she told me, “I didn’t want that to end.”
That’s the power of “same here!” energy. It isn’t just chemistry. It’s psychology.
5. ‘You’re so…!’
What makes someone instantly likable? You might think it’s charm or cleverness. But often, it’s this: making others feel valued.
In every conversation, people are quietly wondering, Am I being boring? Am I doing well? Do they like me? Your job is to answer those questions before they’re asked. Humans love to be validated for who they are, not just what they do. Frequently. Don’t assume you’ve said it before, or that someone knows how valued they are. We can almost never receive too much validation if it’s genuine.
Doing so is simple. If you appreciate something about someone, tell them! Just say: “You’re so…” then you can highlight their humor, charisma, or even punctuality.
In fact, this is how legendary fashion designer Cristóbal Balenciaga got his start. He grew up poor and shy in a small Basque fishing village. Every Sunday, he’d catch glimpses of the town’s fashionable Marquesa de Casa Torres descending the church steps in her couture. One morning, unable to contain himself, he exclaimed: “How elegant you are!” (In other words: You’re so elegant.)
That stopped her in her tracks. She asked Balenciaga about his eye for fashion and discovered his love for style. A few days later, she handed him the dress he had admired so much and asked him to copy it. He did. A career was born.
Positive labels help people see themselves in a new light. And when you give someone a label they want to embody, they often rise to it. NOW I CHALLENGE YOU: Use one of these five phrases in your next conversation. And watch how quickly your connection with them improves.
From CONVERSATION: How to Connect with Anyone & Make Every Interaction Count by Vanessa Van Edwards, published on October 6, 2026, by Portfolio, an imprint of Penguin Publishing Group, a division of Penguin Random House, LLC. ©2026 by Vanessa Van Edwards
Some people are natural conversationalists. I’m not one of them.
Like many people, I’ve always felt awkward in conversation. That’s especially hard as an entrepreneur, where talking to people is half the job. Good conversations can drive our businesses and relationships. We like to buy from, work with, and collaborate with people who are easy to talk to.
That’s why I spent the past two decades studying the patterns of master conversationalists for my latest book, Conversation: How to Connect with Anyone & Make Every Interaction Count. I learned that people who come off as instantly likable use certain phrases over and over again to build rapport. Now I’m passing those phrases along so that you can use them in team meetings, investor calls, and client sessions to make your small talk infinitely better.
Targeted Chase Sapphire Preferred Upgrade Offer: 75K Points for Moving to Reserve
Chase Sapphire Reserve Upgrade Offer: 75K Bonus Points
Chase appears to be sending out an attractive Sapphire Reserve upgrade offer to select Sapphire Preferred cardholders.
A Reddit user reports receiving an email offering 75,000 Ultimate Rewards points for upgrading from the Chase Sapphire Preferred to the Sapphire Reserve and spending $4,000 by mid-December.
What makes this data point particularly interesting is that the cardholder says they had already received a Sapphire Reserve welcome bonus about two years ago. They had since downgraded to the Preferred, and had previously received a Preferred bonus as well.
Another commenter reported previously receiving a smaller 25,000-point upgrade offer, suggesting Chase may be targeting cardholders with different offers. Some emails don;t have an offer at all, so it’s importnat to carefully check the terms of your own offer.
Guru’s Wrap-up
75,000 points for an upgrade is an excellent offer, especially since this cardholder had already earned a Reserve welcome bonus in the past. Check your email if you currently have a Sapphire Preferred, but this appears to be targeted, so don’t expect everyone to see it.
Why China’s AI startups will need to turn to IPOs and private credit
By many measures, China is fast catching up with the U.S. in AI development. Moonshot’s Kimi K3—the world’s largest open-weight model—has approached the performance of America’s frontier systems. Analysts estimate the best Chinese models are now just four months behind the most sophisticated releases from OpenAI and Anthropic, compared to seven months at the start of the year.
Chinese models have gone from 1.2% of token traffic (a common way to calculate AI usage) in 2024 to more than half of the total by the summer of 2026.
But the biggest threat to that next wave is not technology. It’s money. Between 2023 and 2026, venture funding into U.S. AI companies topped $380 billion; China’s start-ups received barely a tenth of that figure, according to Boston Consulting Group.
Funding the future
In the past, Chinese entrepreneurs looked to state guidance funds and venture capital backing, but policy-driven funds are known to prioritize later-stage startups while early-stage venture capital is only just recovering from a three-year fundraising drought.
There are three reasons why broader funding channels should be a priority for entrepreneurs in the AI economy.
First, inflation is taking hold inside the AI economy. CXMT, for example, has been raising memory prices for months and held firm even when Huawei, one of its largest customers, demanded relief.
The war for AI talent is just as fierce: postings for AI-related roles surged roughly twelvefold year-on-year in early 2026. Algorithm engineers specializing in large language models command some of the highest pay packages of any technical role in China.
Founders must also outcompete deep-pocketed former employers and U.S. rivals. More than half of studies presented at the world’s top AI conference had lead authors based in China. China’s AI talent is known to be in demand worldwide.
Second, external funding is scarce. Venture investment in China totaled just $20 billion in the first quarter of 2026, against $267 billion in the U.S. China has raised impressive sums this year—assets under management for newly registered VC funds hit 154 billion yuan ($22.8 billion) in the first five monthes, already exceeding last year’s total—but that is still far below what US venture capital regularly deploys.
Meanwhile, China’s state banks, although directed to prioritize technology lending, are absorbing rising non-performing loans elsewhere on their books, which could lead to weaker overall credit supply.
Third, profitability will take a while to achieve. Chinese enterprise software firms primarily sell into the domestic market, which limits their revenue base. U.S. rivals have a head start: a global customer base, stronger brand recognition, and R&D budgets deep enough to fund everything from enterprise-grade cybersecurity to polished customer experience design.
To be sure, the next generation of AI ventures may not need vast amounts of capital to build applications on top of existing models or fill the gaps in the tech value chain. Enterprise customers can also provide essential development funding.
Entrepreneurs must nevertheless cope without the kind of financial support that is available for the AI sector in the U.S. Closing the performance gap increasingly depends on bulking up in-house computing capacity—yet China’s AI infrastructure spending remains a fraction of what is being spent in the U.S.
Private market alternatives
This is where access to Hong Kong’s finance industry will play a growing role. Its capital markets remain one of the few channels still capable of moving global capital toward Chinese enterprise at scale. More than 430 applicants are in the IPO pipeline in the second half of 2026.
The IPO pipeline, however, tells its own story. Many Chinese technology startups are choosing to list earlier than the previous generation of companies did because they lack an alternative.
Compare that with the U.S., where the likes of OpenAI and Anthropic have grown to an enormous scale by raising private capital. OpenAI closed a round of more than $100 billion earlier this year, while Anthropic raised $65 billion in May. China’s leading model developers, Zhipu AI and MiniMax, beat OpenAI and Anthropic to the public markets—but their Hong Kong IPOs in January raised just $558 million and $620 million respectively, despite heavy over-subscription.
Private credit is another route. Asia-Pacific private credit assets are projected to grow from $59 billion in 2024 to $92 billion by 2027, with China accounting for a fifth of the region’s activity. However, these loan providers tend to prioritize bigger or established companies.
It is already clear that the AI sector, unlike the software sector, will not be dominated by U.S. firms alone. China’s startups have learned the lessons of the previous decade, commanding global respect and winning a growing customer base. The country’s open-weight strategy has given its leading AI companies a cost advantage – even Silicon Valley leaders acknowledge it.
For China’s latest generation of AI entrepreneurs, venture capital and bank loans—the two main sources of start-up funding – may not be enough in the coming years. Keeping pace in the AI race will require using every asset and every channel available. It may mean a public listing earlier than they would have preferred, exploring the growing private credit ecosystem, revenue sharing with customers or leveraging the equity they hold as collateral.
The entrepreneurs involved in the next wave of China’s AI development will need to be creative with funding to maintain their competitive edge at a time when overseas rivals are spending 10 times as much.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.
Wells Fargo HUD probe signals risk for race-based lending
Processing Content
- Key insight: A federal regulator is using the Fair Housing Act to target a lender’s minority lending initiative.
- Expert Quote: “Wells Fargo and all of its employees that engaged in race-based decision-making should be ashamed of themselves.” — Scott Turner, Department of Housing and Urban Development Secretary
- Supporting data: The Trump administration banned special purpose credit programs last year.
Overview bullets generated by AI with editorial review.
The Trump administration is investigating Wells Fargo over its past efforts to improve the Black homeownership rate, in a new attack on Biden-era diversity initiatives.
Department of Housing and Urban Development Secretary Scott Turner chastised Wells for dividing Americans based on race, in a statement Wednesday regarding the probe. It’s another blow to the bank which was also hit with lawsuits in recent years over its
“Wells Fargo and all of its employees that engaged in race-based decision-making should be ashamed of themselves,” said Turner in a statement.
In a letter to Wells Fargo CEO Charlie Scharf Wednesday, a HUD senior official said the regulator would investigate the bank’s mortgage lending practices to aid minority homeowners. Wells previously committed $150 million to lower mortgage rates and reduce refinance costs for eligible black homeowners, to address historical gaps in racial homeownership rates.
“The program was more aggressive than “usual lending programs” by putting shareholders’ “money to work refinancing minority families’ homes,” wrote
The letter didn’t explicitly accuse Wells of discriminating against white homeowners, but Trainor emphasized the company’s potential violations of the Fair Housing Act, a Civil Rights Act law prohibiting discrimination based on factors including race.
HUD also seized on Wells Fargo’s marketing, in which it previously declared in a press release that its diversity efforts exceeded those of “the next three largest bank lenders combined.”
A spokesperson for Wells declined to comment.
DEI under fire
The letter invoked special purpose credit programs, which the Trump administration
Wells Fargo has been subject to
A federal judge halted that case last summer, denying class certification for potentially over 100,000 members. That litigation followed a 2022 Bloomberg report that found the bank had the largest lending disparity between whites and minorities during the refinance boom earlier this decade.