I just got accepted into grad school and will be charging a significant amount of money over the next three years. Somewhere in the ballpark of $150,000 (tuition, fees, textbooks, etc.).
To put that into perspective, I usually charge less than $1,500/month. School alone will add, on average, ~$4,000/month to that.
There has to be a way to maximize my rewards given the amount I'll be spending.
Are there cards specialized for education expenses? Could I cycle the best sign up bonuses because I'll be consistently spending a lot of money?
Could I sign up for the card with the best bonus, charge tuition until I get the bonus, cash in, and then cancel the card (to avoid recurring fees) and sign up for the card with the next best bonus...?
As of right now I'm using my no-fee BofA Travel Rewards card which offers 1.5% cash back + an additional 10% cash back on top of that 1.5% at year end because I have a BofA savings account. It winds up at 1.65% cash back on all charges. I just put the $2,000 enrollment fee on that, so that's $33 cash back.
And don't worry, I'll be paying this money off on time because my company will be reimbursing me.
It'd be awesome to generate enough rewards to go on an all expenses paid trip or seed fund a new venture after graduation.
You guys are the experts. How would you handle this situation?