We met our $3000 threshold for spending on the Chase Sapphire card in my name about two weeks ago. The statement finally closed and credited us 40,000 bonus points this morning.

I quickly paid the card off. And then went to redeem the points for cash. Actually outstanding points was 53,900. Part of the points came from saving up points from earlier in the year on a Chase Freedom card and of course actually points earned from spending. The check will arrive in about 10 days in the amount of $539.00!

That $539 will go towards the truck loan, which allows me to confidently say we will be under $6K by the end of the year on that loan!

The Oops? Since the credit card balance was over $900, I should have redeemed the points first as a statement credit, paid the remaining balance and then used the cash I was expecting to use on the credit card to pay down the truck loan, which I could have done today. Instead I need to wait for the check. Lesson learned there. I will definitely use that method on the next rewards bonus!

I suppose I could still make a big payment knowing the check is coming, but I think I'll wait just to be sure. Expect a truck loan update tomorrow, as I expect our regular truck payment to post tonight.

Any other reward redemption tips?