In light of the
Slate card mishap, I decided to go a different route. Make money from spending, rather than save money from paying down debt. Odd I know!I applied for the Chase Sapphire card and was approved. I haven't received the card, but I can see the account online. Odd also.
We will need to spend $3,000 in the next three months to earn $400 worth of rewards that can be redeemed for cold hard cash. Guess where this cash will go? Yep, a nice drop in the bucket on the truck loan when it is all said and done.
We need to pay our auto insurance premium ($420), vehicle registrations ($480) this month. We will also put our regular bills on the card amounting to about $400 per month. I expect we will also use it for everyday spending...so that we aren't tempted to buy something just to meet the $3000 minimum. It should go just fine.
After the rewards? Closing the account ASAP! It has a $95 annual fee after the first year. I may have my husband open one early in the next year, but it will depend on the offer at the time, how this dip works out, and if we think we can meet the minimum again at that time.
I don't really like messing with credit cards, but when you pay them off and earn some snazzy rewards at the same time...it's hard not to! Bring on the $400!!
ETA: It came in the mail today. I activated it. I have changed all the auto bills to be paid with it and charged the electric bill already! I told my husband to use it for everything he normally would use it for until I tell him not to.
October 4th, 2012 at 07:04 pm 1349377489
October 4th, 2012 at 10:40 pm 1349390416