Easiest way in 2013 to meet minimum spending requirements for credit card

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Luxe
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Easiest way in 2013 to meet minimum spending requirements for credit card

Postby Luxe » Mon May 20, 2013 3:08 am

I'm thinking about going for the Chase Sapphire Preferred which has a $3k ($2k sometimes negotiable) minimum spending requirement for the credit card bonus.

Amazon Payments looks like a good way to get this down but are there better ways?
Are there prepaid cards I can get for cheap and convert to cash at the ATM or deposit into a checking account?
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Gamma
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Postby Gamma » Mon May 20, 2013 3:56 am

A good way to meet spending requirement with Chase is purchasing Chase Gift Cards.

Currently, they are waiving the shipping fees online so by buying these gift cards and setting PINs on them, you can use it to purchase money orders in Walmart or load into your Bluebird account in Walmart. Then use Bluebird to bill pay Chase or send a check to a trusted person and have them cash check and pass you the funds.

Amazon payment is also a great way for this.

Other ways people do is buying Visa/MC gift cards in grocery/drug store and setting PINs on them and buying money orders.

MemberSince99
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Postby MemberSince99 » Mon May 20, 2013 6:02 am

That's great information Gamma. I didn't even know you could do that. What is a Bluebird account?

Sevenfeet
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Postby Sevenfeet » Mon May 20, 2013 12:35 pm

Gamma wrote:you can use it to purchase money orders in Walmart or load into your Bluebird account in Walmart. Then use Bluebird to bill pay Chase or send a check to a trusted person and have them cash check and pass you the funds.


Seriously...let me get this straight...

Purchase Chase Gift Cards...that counts against your spending requirement for bonus points.
Get a an Amex Bluebird account from WalMart and load them up with the gift cards.
Have Bluebird cut a check back to Chase since Bluebird will do bill pay.
Profit?!?!?!

Seriously, what a circle play!
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

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djrez4
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Postby djrez4 » Mon May 20, 2013 1:27 pm

Yup, pretty much. ;)
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

credit_card_fonz
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Postby credit_card_fonz » Mon May 20, 2013 1:29 pm

Member, you really need to get out more often! Bluebird is a prepaid Amex card exclusively for Walmart. It's almost the next best thing to a checking account, you can direct deposit pay checks there, they now let you photograph checks to deposit with your smartphone, you can transfer funds from another bank account and you can load cash free at Walmart. They now have checks you can write on your account (with pre-approval) and they have bill pay features. http://www.bluebird.com

Sevenfeet
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Postby Sevenfeet » Mon May 20, 2013 2:01 pm

djrez4 wrote:Yup, pretty much. ;)


Even better, it would seem less likely to be flagged for abuse. Now I could still see executing such a strategy poorly (for example, using gift cards to exactly match the introductory spend offer and not do actually real purchases), but overall, that's not a bad way to get over the proverbial finish line.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

KrazyNick
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Postby KrazyNick » Mon May 20, 2013 4:18 pm

That is a genius idea! I would of never if thought of it! I had no idea about bluebird either! Guess me and Member99 aren't big Walmart shoppers! I know I'm not. I don't step foot in there. Send my wife in for that!
Bank of America Travel Rewards Visa Signature - 5k (2/10)
Capital One Mastercard- 2.5k (1/11)
Chase Freedom- 5k (4/11)
Discover It- 3k (5/11)
Chase Amazon Visa- 2k (5/13)
American Express Blue Cash Everyday- 8k (5/13)

Bank of America WorldPoints Rewards for Business- 18k (11/11)

cashback
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Postby cashback » Mon May 20, 2013 4:20 pm

Once you enter the world of prepaids, there is no going back...
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Gamma
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Postby Gamma » Mon May 20, 2013 9:47 pm

Sevenfeet wrote:Even better, it would seem less likely to be flagged for abuse. Now I could still see executing such a strategy poorly (for example, using gift cards to exactly match the introductory spend offer and not do actually real purchases), but overall, that's not a bad way to get over the proverbial finish line.

The word around FT is there is a 30 day limit (not calender month) purchase of $2500 per Chase account. I try not to spend more than $1000 per card I have with them because don't want to raise any red flags making purchases above my income level. Other than that, enjoy the free UR points purchasing them while you you still can!

cashback wrote:Once you enter the world of prepaids, there is no going back...

Ditto.

Sevenfeet wrote:Seriously...let me get this straight...

Purchase Chase Gift Cards...that counts against your spending requirement for bonus points.
Get a an Amex Bluebird account from WalMart and load them up with the gift cards.
Have Bluebird cut a check back to Chase since Bluebird will do bill pay.
Profit?!?!?!

Seriously, what a circle play!

Make sure you get the BB ordering it online because the temporary ones sold at Walmart can only be loaded with cash I believe.

MemberSince99 wrote:That's great information Gamma. I didn't even know you could do that. What is a Bluebird account?

The next best thing for heavy credit card spenders!



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