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Credit Card Strategies

April 12th, 2012 at 11:40 am

I recently had a "lightbulb" moment when I realized that I COULD get the Chase Sapphire rewards card and not have to wait til I was employed full-time to be able to spend $3,000 in 3 months.

There are 2 reasons for this:

1. As someone pointed out here, if I find I'm running short of the target spending goal, i can always buy grocery store gift cards.

2. I took a look at last year's monthly expense sheets (you never know when these come in handy) and I could see that I usually pay my car insurance (1/2 of it) in July and my homeowners in October.

So if I time my application for the Chase Sapphire card in mid-July, I should be able to cover both big bills, which together come to just under $1,000. So that would be one-third of the target spend right there.

Right now, I need to focus on my current Citi thank You preferred spend, and again, I just might need those grocery store gift cards to hit the target.

If I do just the citi thnak you card and the sapphire card, I will have exceeded my target of $1,000 in cash and gift cards earned from credit card rewards in 2012.

Cool.

Posted in Uncategorized | 7 Comments »

7 Responses to “Credit Card Strategies”

  1. creditcardfree Says:
    April 12th, 2012 at 11:57 am 1334231833
    1334231833

    That's exciting to think you might get to dip in for another offer!

  2. CB in the City Says:
    April 12th, 2012 at 12:34 pm 1334234066
    1334234066

    You're making me think about whether I could do another offer. I don't think Chase Sapphire has sent me anything. Is there a link?

  3. ceejay74 Says:
    April 12th, 2012 at 02:31 pm 1334241113
    1334241113

    Hmm...I think they've downgraded it to $400 recently. Can't find the $500 offer anywhere. I'd heard that it wasn't going to be available much longer, but we did find the offer a month or so ago.

    Here's the $400 one: http://www.creditcards.com/credit-cards/chase-sapphire-preferred-card.php

  4. ceejay74 Says:
    April 12th, 2012 at 02:34 pm 1334241281
    1334241281

    At that rate, it might be easier to just get a Chase Freedom, earn $200 for spending $500, cancel it, wait a month, and reapply for the same Chase Freedom. It could work and you'd only need to spend $1000 to get $400.

  5. patientsaver Says:
    April 13th, 2012 at 11:38 pm 1334360326
    1334360326

    https://creditcards.chase.com/sapphire/credit-cards/sapphire-preferred-card/

  6. patientsaver Says:
    April 13th, 2012 at 11:39 pm 1334360391
    1334360391

    as far as i know, ceejay, you can't apply for a card more than once.

  7. ceejay74 Says:
    April 14th, 2012 at 01:11 am 1334365909
    1334365909

    Your link also goes to a 40,000 point offer, patientsaver. I think the 50K ($500) one is gone.

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