Yeah, you read that right. You should make the credit card companies pay for your holiday spending! (You thought I meant something else?) Since they offer juicy incentives to get you to switch to their credit card, take advantage of these loss-leaders and use the money to pay for your gifts. Sure, technically it may take you a bit to actually get the check or gift cards in the mail, but a few hundred dollars can go a long way. Just remember to pay off your balances in full, or they win!
I chose one card from three of the major issuers – Chase, Citibank, and American Express, and you can get at least $100 from each one. If you apply for all three on the same day, it is more likely that you’ll be approved for all of them since they won’t be able to see that you applied for other cards.
Free $100 Cash
The Chase Sapphire Card is a new rewards credit card that is offering 10,000 bonus points after any first purchase on the credit card, which can be redeemed for $100 cash. No annual fee.
As a rewards card, it offers 1 point for every dollar in purchases (100 points = $1, or the usual 1% back). The nice part is that redemptions are easy – you can even redeem in $1 increments as long as above $25, so you could cash out $27 or $113 without anything left over. There are no earning caps, or points expiration dates.
Free $100 Gift Card + Cashback from Restaurants & Amazon.com
The Citi Forward card is offering 11,000 ThankYou points for making just $250 in purchases and electing for paperless statements within 3 months of account opening. That’s enough points to exchange for $100 in gift cards from stores like Sears, Staples, Overstock.com, Macy’s, or Gap. No annual fee.
In terms of ongoing rewards, you get 1 reward point for every $1 you spend on other purchases like most other cards, but this card offers a special 5 reward points for every $1 you spend on books, movies, music and restaurants. You also get 100 points each month you pay your balance on time and don’t exceed your credit limit. See my Citi Forward card review and Amazon.com & restaurants follow-up for more details.
Free $150 in Gift Cards
The American Express Premier Rewards Gold Card offers 15,000 Membership Rewards bonus points when you spend $1,000 in your first 3 months of Card membership. MR points are very versatile, and can be converted to 15,000 frequent flier miles in a number of programs (or 10 Southwest credits), or you can simply get $150 in gift cards at several stores like Home Depot, Crate & Barrel, or Macy’s. You can view the reward options at MembershipRewards.com. I think you can also get cash equivalents at a reduced ratio.
You can also earn another 15,000 Membership Rewards bonus points when you spend $30,000 per calendar year. No annual fee for your first year. After that it is $175, so remember to cancel within the first year if you don’t want to continue.
Read more about Pay For Black Friday Gifts With Credit Cards…
Read and post comments | Send to a friend