Chase Sapphire Card 10,000 Points = $100 Cash w/ No Annual Fee

Previously, I posted about the Chase Sapphire Preferred® Card, which is currently offering 40,000 bonus points after you spend $4,000 in purchases within the first 3 months. This is quite a good deal, as 50,000 points can be redeemed for $625 in travel when you redeem through Chase Ultimate Rewards™ (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® Card is now offering 10,000 points worth $100 in travel rewards when you redeem through Chase Ultimate Rewards, after you spend $500 in purchases within the first 3 months, and an additional 2,500 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening. 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 $500 travel bonus 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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  1. Does cancelling your credit-card result on a negative on your “credit” score?

  2. Chase declined me for the British Airways card because I had applied for the Marriott Rewards card with them a month earlier. They gave me a $14.5k limit on that card. When I called and asked them why I was declined, they said it was because I had opened the Marriott Rewards card “too soon” beforehand. I suggested that they simply transfer some of the credit limit of that card to the British Airways card so they wouldn’t assume any more risk and I could still cash in on the promo. Unfortunately, that “wasn’t their policy”. Apparently it is their policy to keep sending me solicitations in the mail for their Freedom card, though!

  3. Well here I go again! I didn’t want to get another credit card but $500 in free money is hard to pass up.

  4. I went the US Mint site & you can buy $1,000 of $1 coins every 10 days, shipped free and no service fee. They are back-ordered until June 6. If they are accurate about the availability date, one should still be able to purchase these as needed to hit the $3,000 minimum.

    Thanks for posting about the card. Do you have a post somewhere about how you track all the cards/investments that are constantly rolling over? What is you system?

  5. I’ll probably have my hubby sign up for this promotion after we get the $500 from that last promotion you posted about. Well, will keep my eye out for this one – if it is still around. Thanks for the tip!

  6. Thanks for posting this review.
    Interestingly, I just got a pre-approved letter for Chase Sapphire (the basic, not the Preferred) with a sign-up promotion of 50,000 bonus points. That seems like the best of both worlds: the $500 bonus but no annual fee. My credit score is ~805.

  7. This mint thing is genius! I have long tried to figure out a way to meet some of these purchase requirements without buying stuff I don’t need. I can easily just buy the coins and take them to my bank.

  8. Just got my card today. I have to say I’m a bit surprised – I’ve opened 3 different cards besides this one in the last 2 months. I was worried that would put a flag somewhere and lower my chances. Anyway, off to spend some money :)

  9. Reading the fine print, it looks like the points expire if you cancel your card. So be sure to use them before you cancel the card.

  10. Can you reach the purchase limit by using Amazon Payments to send money to a closed one?

  11. See this Fat Wallet post related tot he chase sapphire preferred card (linked at I just tried their trick of emailing and asking for them to match the 100k points and it seems to have worked.

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