Posted byon September 12, 2011
Previous article: « Discover Rebates on Utility Payments via ChargeSmart
Next article: 6 Reasons Why You Need to Carry Cash »
My 5% cash back on my Chase AARP card came to close last month. But I wanted to go out with a bang, so I set the wheels in motion to squeeze every possible penny of cash back out of the card before it expired.
I also wanted to maximize the amount of charges I had on the card to ride out the next six months of 0% on the purchases. And after a fun month, I’d consider the $885 cash back checks I received for August a success!
Here were some of my strategies above and beyond everyday spending:
Final charges for the month of August: $17,700. Cash back: $885
Credit Limit. In my final month, I exceeded my $10,000 credit card limit. In order to keep the spending going, I paid off the purchases the day after I made them to keep enough open credit on the card for additional purchases.
Don’t Get Greedy. With Chase handing out the money on this one, it’s easy to think you could rinse and repeat for multiple times what I did every month. And I’m sure some people are doing this. However, I do like to keep my options open with Chase in the future and getting adverse action from them isn’t ideal for taking advantage of deals in the long run. I tried to keep all my purchases somewhat reasonable and avoid excessive purchases from any one vendor.
Don’t forget the double dip. My only regret? I forgot to link our envaulted account to this card until half way through my spending spree! I’m embarrassed that I missed about $150 of cash back on that mistake.
Now that my Chase run is over, I’m turning all of my attention to the American Express 6% Cash Back Credit Card with even more possibilities…
How did you do with the Chase card?