Do you wish you had some extra money so you can take a few days off, throw a little dinner party, or splurge on a remote controlled video drone. After all, it’s almost swimsuit season.
Howsabout $450 & $600 tax-free? That’s the equivalent of $600-$1,200 earned in your regular job before paying taxes.
Generally speaking, a lot of credit cards offer you something if you try them out. Long before I became a credit card expert, I signed up for cards that got me a free baseball, a beach towel, a discount off my purchase at The GAP. That is chump change. When I was checking out at Amazon.com yesterday, I was offered $80 off my order if I signed up for their Visa Rewards card. $80??? No bueno.
Best Bonus Bang For Your Buck
Right now, there are two cards that I suggest for collecting hard cold cash. Both give you bonus points that you can redeem for cash (among other things), if you meet the spending requirement in the first three months of opening the card.
1. Chase Sapphire Preferred (personal card): Earn 40,000 Bonus points when you spend $3,000 on purchases in the first 3 months from account opening. You get an additional 5,000 bonus points if you add an authorized user’s name. You do not have to give the authorized user a card. It is just a name on a card. No other info.
Maybe you get one for Barack Obama or Miggy Cabrera. Some people get a card for their cat Mr. Tibbers, but I don’t go that far.
When you get the card, and meet the spending requirement, you get the bonus points dumped into your account. You can redeem them for travel, hotels, statement credit, or even get a check sent to you. 45,000 points = $450 cash. Tax-Free money!
2. Chase Ink Plus (business card): Earn 60,000 Bonus points when you spend $5,000 on purchases in the first 3 months from account opening. No authorized user bonus on this one. 60,000 bonus points = $600 tax-free! This is an increase of 10,000 bonus points over the usual offer – for a limited time.
This one is a business card. Did you know that you can be a business even if you don’t have a Corporation or LLC? If you just said, “A what?” don’t worry about it – you don’t have one. Here’s how you can apply as a business. You could apply for both cards, but I’d just start with one.
Both cards waive the annual fee the first year. Try out the card for free for a year and see how you like it. If you decide to cancel it, make sure you use up the points before cancelling the card or you will lose the points. Like I said, you can redeem for a statement credit or a check. Very Easy.
Read my post about AmazonPayments WebPay for some ideas to help you meet the spending requirement. Amazon suggests you use it to send money to pay your baby sitter, your friends and family. Heck, you could even use it to pay your rent.
Click on “Chip’s Favorite Credit Card Offers” at the top right side of this website for up-to-date deals, terms, and conditions on these cards and more. Email me if you have any questions about which card might be right for your situation.