Chase Sapphire Preferred (CSP) Meet Bonus Spend

SecretAzure · ‎03-08-2019

Hello denizens of MyFico, I have been eyeing CSP for a while as an introductory travel card. This has always been a difficult thing to weigh because I don't travel very much and I generally don't have very much extra spending. I live modestly and comfortably. I eat out probably more than I should.

So I was running the math as I've finally gotten rid of all my credit debt. With just travel and dining (based on last year's spend) I can cover the AF on CSP. Also, I've been using CF and CFU for years. I'd have way more points but I was in a financial pinch last year and cashed out about $500 (it really saved my butt). Anywho, I've been building up my points again this year.

So it seems obvious to me that I would benefit by having the CSP.

My only concern is that darn introductory bonus offer. In no way, with my budget of $700/month for living expenses and bills (the ones that accept credit cards) can I hit the $4K spend in 3 months.

I've looked into other options like Plastiq but they don't let me pay my mortgage with Visa cards (I think it's mostly a limitation imposed by Visa).

Any advice you credit wizards can offer to help me get that extra (just about $2100) I would need to spend? I can't realistically buy something that costs $2K again because it would set me back on my quadruple payments to my HELOC. I don't want to pay interest again!

Thanks in advance!
(Near 800 Credit Score across the board)

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

Anonymous · ‎03-08-2019

Best bet would be to prepay for as much as you can. Pay for a year of car insurance now instead of paying every month for the next year. Buy a few hundred dollars in gas or grocery store giftcards that you can use throughout the year. Pay extra into your monthy utilities so that you can have credits for the next few months. Basically still spend your $700 per month, but just pay for the next few months now and then spend less later.

Streetervillelady · ‎03-08-2019

My Dad is retired in AZ, I paid all his chargeable monthly expenses to help reach my AMEX SUB required spend. I still pay the 'fee-less' (DirecTV) expenses to earn points.

SL

coldfusion · ‎03-08-2019

@Anonymous wrote:
Best bet would be to prepay for as much as you can. Pay for a year of car insurance now instead of paying every month for the next year. Buy a few hundred dollars in gas or grocery store giftcards that you can use throughout the year. Pay extra into your monthy utilities so that you can have credits for the next few months. Basically still spend your $700 per month, but just pay for the next few months now and then spend less later.

It reads that the OP's issue is that they can only devote about $700/month toward organic spend on the card.

If one cannot routinely PIF on a travel card they need to carefully consider its value as interest rates are generally higher than with a non-travel card - if you have to carry a balance you are diminishing the net value generated by the card itself as well as the SUB. They need to do the math carefully if they are going to go down the prepay route.

There are other (legal) ways to accomplish what the OP is asking but there are risks (they won't actually count against the spend requirement, OP may be georestricted or have a disqualifying derogatory, etc) and the necessary discussion would dive into topics whose discussion are strongly discouraged at this site.

(10/2025)
FICO 8 (EX) 838 (TU) 846 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

Anonymous · ‎03-08-2019

@coldfusion wrote:
@Anonymous wrote:
Best bet would be to prepay for as much as you can. Pay for a year of car insurance now instead of paying every month for the next year. Buy a few hundred dollars in gas or grocery store giftcards that you can use throughout the year. Pay extra into your monthy utilities so that you can have credits for the next few months. Basically still spend your $700 per month, but just pay for the next few months now and then spend less later.
There are other (legal) ways to accomplish what the OP is asking but there are risks (they won't actually count against the spend requirement, OP may be georestricted or have a disqualifying derogatory, etc) and the necessary discussion would dive into topics whose discussion are strongly discouraged at this site.

I'm kinda new here, would you be able to point me in the direct of a thread that has the topics suggested here listed as discouraged? I want to abide by all posted and implicit rules here, so an area where I can learn about this would be helpful.

Unless you want to PM me/tell me outright

coldfusion · ‎03-08-2019

r e d d i t

(10/2025)
FICO 8 (EX) 838 (TU) 846 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

Anonymous · ‎03-08-2019

@coldfusion wrote:
@Anonymous wrote:
Best bet would be to prepay for as much as you can. Pay for a year of car insurance now instead of paying every month for the next year. Buy a few hundred dollars in gas or grocery store giftcards that you can use throughout the year. Pay extra into your monthy utilities so that you can have credits for the next few months. Basically still spend your $700 per month, but just pay for the next few months now and then spend less later.
It reads that the OP's issue is that they can only devote about $700/month toward organic spend on the card.

If one cannot routinely PIF on a travel card they need to carefully consider its value as interest rates are generally higher than with a non-travel card - if you have to carry a balance you are diminishing the net value generated by the card itself as well as the SUB. They need to do the math carefully if they are going to go down the prepay route.

There are other (legal) ways to accomplish what the OP is asking but there are risks (they won't actually count against the spend requirement, OP may be georestricted or have a disqualifying derogatory, etc) and the necessary discussion would dive into topics whose discussion are strongly discouraged at this site.

If he/she literally only has $700 available to spend each month then the options are very small. If he/she has more than $700 available but doesn't want to spend more than that per month, then they can do what I suggested and prepay. I'm not sure which boat they are in. If they only have $700 to spend then they can work their way into manufactured spend but as was mentioned, that usually isn't the best way to go.

Remedios · ‎03-08-2019

I hate saying this, but if you can only spend $700 per month, I'd let go of the SUB dreams.

You just got out of financial distress, don't create another one just to meet the SUB. It's not worth it.

Anonymous · ‎03-08-2019

If you have a trusted relative you might consider adding them as an authorized user. This could work if they do pay for their charges. I have my daughter and son in law on several cards. It was originally set up to help them purchase a home with higher credit limits and lower utilization for them. Yes, it worked. Now they still use the cards sometimes and my daughter pays me direct through our joint bank account. I get to keep the points.

Anonymous · ‎03-08-2019

@coldfusion wrote:
r e d d i t

LOL, fair enough. I thought there was a thread disallowing these behaviors on MF, but I was wrong.