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Credit Card Rewards

March 3rd, 2013 at 01:18 pm

I see that Chase is offering the Southwest Airlines Rapid Rewards Premier Card, which awards you 50,000 bonus points after you spend $2,000 in the first 3 months, good for 2 roundtrip flights. And you get 6,000 bonus points after your one-year anniversary. While I havenít traveled much lately and highly doubt I will anytime soon, Iím interested in the card because you can also redeem the points for $500 in gift cards from Wal-Mart, Lowes, Home Depot or Amazon. However, the card does have a $99 annual fee. Bummer.

However, Chase has a very similar card, the Southwest Airlines Rapid Rewards Plus Card, which offers the exact same benefits except you get 3,000 bonus points on your anniversary instead of 6,000. And this one has a $69 annual fee. Since Iím mainly interested in the rewards and wouldnít plan on keeping the card for a year, I donít much care about the anniversary points anyway.

SoÖ.while spending $2,000 in 3 months was a stretch for me last time I did it (thereís always more grocery store gift cards), it would be nice to get $430 in gift cards, which I could surely use at Home Depot for all my home maintenance/repair needs. (Amazon would never be my first choice for gift cards as their prices for anything besides books is much higher than you can find elsewhere. And now they charge sales tax in Connecticut, so that little cost savings is gone.)

I may wait until I think itís October when both my homeowners and car insurance are due. That would be a quick $1,000 spend right there. (Iíd been meaning to ask my agent if I could separate these two bills so they donít both come due at the same time cus itís one big bill, but for purposes of earning credit card rewards, it works well.)

In the meantime, Iím $50 shy of having earned a $100 reward from Bank Americard.

2 Responses to “Credit Card Rewards”

  1. MonkeyMama Says:

    Chase always refunds the annual fee, in my experience. That is if you close it right away. Sometimes I have gotten 100% back, and sometimes it was maybe 11/12 back.

    It was a nice surprise as they did it the first time without asking. Since then, I always ask, and they just refund it.

    I am thinking of trying to double dip on these cards. Last time we only had to make "one purchase" for $500 in gift cards. But if we could both get $500 again, it sounds VERY nice.

  2. patientsaver.com Says:

    But if you plan to cancel the card within a month or two of collecting your rewards, don't you feel a little schmucky for asking for a refund? I feel a little funny about doing that.

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