Previously, I posted about the Chase Sapphire Preferred(SM) Card, which is currently offering 40,000 bonus points after you spend $3,000 in purchases within the first 3 months. This is quite a good deal, as 40,000 points can be redeemed for $400 cash or an airplane tickets worth up to $500 (you can buy a more expensive ticket from any website and simply pay the difference). The Preferred card has no annual fee for the first year, but is $95 in future years. See the original post for more details.
If you don’t want to deal having to remember to cancel your card, the regular non-Preferred Chase Sapphire(SM) Card is now offering 10,000 points worth $100 cash after you spend $500 in purchases within the first 3 months, and there is no annual fee in the first year or subsequent years. The non-preferred used to give out their bonus with no minimum purchase requirement, so personally I’d rather take the extra $400 via the Preferred.
Ideas for reaching the purchase limit without spending more money that you would otherwise include: prepaying any monthly bills like utilities and let the credit go down over time, pay your 6-month auto insurance or home insurance bills via lump sum, buy American Express gift cards that don’t expire and then spend them gradually, purchase gift cards at a discount from places you will shop at eventually through PlasticJungle or similar (Home Depot, Target, etc.), buying $1 coins from the US Mint (you’re basically buying cash), or buying grocery store gift cards (Safeway cards at Safeway). Basically just shift your usual expenses.
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