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Monday, October 14, 2013

Step 1: Profit. Step 2: Profit. Step 3: Profit.

Title says it all!

If you follow our blog or listen to us preach, you'll know that a lot of our strategies have a step where we actually lose some money (most often in the form of negligible activation fees).

That won't happen this time around. Instead, it's net gain all the way. Here's what I earned today:

  • 1,770 points
  • $20 Staples gift card
  • $11 credit for my American Express credit card

Unfortunately, this is a targeted promotion, but read on to find out how you can check to see if you're one of the lucky few!


Step 1: Profit from American Express

American Express (AMEX) cards are now offering a $25 statement credit on $75 spent at staples. This promotion seems to be currently targeted, and I was fortunate enough to have an AMEX card in the form of my Starwood Preferred Guest (SPG) card and received the offer. To find out if you are eligible:
  1. Go to your online account.
  2. Click recent transactions.
  3. On the bottom right hand corner, there is a scrolling bar that gives you offers. One should say "Spend $75 at staples and receive a $25 credit." 
  4. Click on it to sign up for the promotion.

"Offers For You" is where you will find the Staples offer

Step 2: Profit from Staples

On top of this, Staples has a promo this week is offering a $20 gift card e-bate when you purchase $300 or more in MasterCard gift cards. So I went to Staples and picked up two $200 MasterCard gift cards for a total of $413.90 ($13.90 in activation fees)

Step 3: Profit from Chase Ink

Here's the trick: I asked to split the tender. Split tender means you would like to pay with two cards. I paid $75 on my AMEX to complete Step 1, and the rest, $338.90, on my Ink Bold to gain 5x points.

What just happened?

Here's what you're getting from 1) signing up for the AMEX promo and 2) buying $400 gift cards at Staples:

  • You earn 75 points on your AMEX because the first of the split tender was $75.
  • You earn 1695 Ultimate rewards points from the second of the split tender was $338.90.
  • You get $20 Staples gift card for spending over $300 in MasterCard gift cards.
  • You get $11 from the AMEX promo. 
    • The AMEX promo was $25 credit for $75 spent at Staples
    • The activation fees of cards was $13.95
    • $25 credit - $14 activation fee = $11 credit
Pretty good for 10 minutes.

A couple of notes:
  • MasterCard gift cards must be called in to set a pin. People have reported problems loading to Bluebird via Walmart but it can be done.
  • Many times the cashier will have to call the credit card company to verify a purchase. This is normal and happened to me.
Go get your points because every point counts!

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