There are many methods to meet minimum spend on credit cards to meet big bonuses. For example, the AMEX Starwood Preferred Guest Card needs a minimum spend of $5,000 in 6 months and the Chase Ink Bold/Plus need a minimum spend of $5,000 in 3 months. Many people including me cannot spend this much a normal expenses.
Update 12/6/12: Bigcrumbs has dropped to 1.75%
The easiest way to meet minimum spend on credit cards right now until 12/6/12 is to buy AMEX gift cards through the cash back site BigCrumbs. You can purchase $5,000 in personal gift cards on the site and receive 2.25% cash back. Only use the coupon codes mentioned on BigCrumbs to receive cash back. Currently the only coupon code valid for cash back is WRAP12P or AFLQ42012, which gives you free shipping. There is a $3.95 fee per card you order. You can order cards in denominations of $25-$3,000. Note: Do not use Citicards to purchase, as it might trigger a cash advance fee. The most effective method to max this promotion would be the following:
2.25% 2.5% = $125 cash back – $8.90 in fees = $116.1
You can quickly meet your AMEX SPG card of Chase Ink Plus or Bold with this method and make an extra ~$100. This method will help you accelerate your credit card churning. However you do get stuck with $5,000 of gift cards where you can spend anywhere AMEX is accepted. Also, you can use Amazon Payments to liquidate $1,000 of the gift card a month or buy Vanilla Reload cards at CVS for a $3.95 fee each and liquidate through Bluebird. I’ve recently been paying my rent by having Bluebird send my landlord a check. Also, be careful that AMEX gift cards do not provide purchase protection. I usually buy things that I don’t plan on returning with AMEX Gift card. Many opportunities out there! Several members on Flyertalk have confirmed that their cash back posted.
Note: I do receive a very small 0.1% commission if you choose to buy AMEX gift cards. Thank you for your support.