Author Topic: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex  (Read 7162 times)

Re3iRtH

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I signed up for the Amex Platinum approx. 2 months ago, now I have about 1.5 months to spend $4000, I have spent roughly $1K the first month. Any ideas or hacks on how I could do this? All my bills are are direct deposit from bank accounts. When I lived in HI, I could spend $5K easy in a month, but now its a struggle. Would really love that 60K points bonus.

bacchi

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #1 on: July 27, 2017, 02:31:27 PM »
Can you prepay anything like property taxes or auto insurance or house insurance? The property taxes will probably cost you ~2% but it's probably worth it.

You can always go to your local Office Max/Depot and load up on Visa gift cards. Don't make it too obvious -- spread out the purchases and buy something small as well. Then you can either use the gift cards for purchases the rest of the year or go to your post office and exchange them into money orders.


exige

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #2 on: July 27, 2017, 02:58:48 PM »
Manufacture spend.

AmyS

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #3 on: July 27, 2017, 04:00:06 PM »
I'm doing a similar offer right now. What I'm doing is paying my mortgage using the AMEX card via Plastiq for the period required to get the offer (my offer is slightly different from yours). I did some calculations to figure out if the Plastiq fee plus the AMEX annual fee (not waived for the first year on my particular offer) would cancel out the offer amount - for me it was still a great offer so I went for it.

letired

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #4 on: July 27, 2017, 04:09:28 PM »
Have job expenses that you get reimbursed for! I get a stipend every year for equipment or conferences, so the conference expenses plus travel to the main office  this fall will help me make the minimum spend on my next 2 cards.

mxt0133

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #5 on: July 27, 2017, 04:18:26 PM »
Buy Costco gift cards or any gift cards for future spending.  Or you can buy something at Costco with a card and return it and get back cash.

therethere

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #6 on: July 27, 2017, 04:21:13 PM »
Open a new bank account for a bonus that allows you to fund with a credit card. I used Bank of Colorado for $1,000 initial deposit via my Chase Reserve and kept it open to receive $200 bonus on the checking account too.

http://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/

rdaneel0

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #7 on: July 27, 2017, 04:22:14 PM »
If you have storage space I'd stock up on all sorts of household items and dry pantry goods. After that I'd buy a ton of gift cards that you can use in the future and/or use for gifts.

nouveauRiche

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #8 on: July 27, 2017, 04:27:34 PM »
Do you have any trustworthy friends or family members who like to shop?  Ask if you can put their purchases on your card.  Then they pay you back with cash/check.

rachael talcott

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #9 on: July 27, 2017, 04:35:11 PM »
Careful with the gift cards -- Amex in particular has been clawing back points earned by buying gift cards:

https://www.doctorofcredit.com/american-express-discusses-plans-fight-gaming-credit-card-rewards-investor-day/

Re3iRtH

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #10 on: July 27, 2017, 08:41:09 PM »
Manufacture spend.

Whats that mean?

Playing with Fire UK

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #11 on: July 28, 2017, 02:45:36 AM »
Look into whether paypal friends and family comes up as a cash advance or a spend for your card.

Any holidays coming up that you can prepay for?

You said that bills are on direct deposit, but you may still be able to prepay them via the card.

RobFIRE

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #12 on: July 28, 2017, 04:04:23 AM »
Well, with these "high spend for bonus" cards you either need to buy them just before a pre-planned big purchase (car or holiday), have high ongoing reimbursed costs (work travel expenses you pay for then get paid back), or bring forward regular spending (manufactured spend, so buying gift cards or stocking up on supplies).

As others have mentioned, I would think the credit card companies are getting wise to the trick of buying gift cards, though your provider may still allow it.

friedmmj

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #13 on: July 28, 2017, 04:14:58 AM »
Buy Costco gift cards or any gift cards for future spending.  Or you can buy something at Costco with a card and return it and get back cash.
That is fraud

birdiegirl

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #14 on: July 28, 2017, 08:16:05 AM »
Make all of your charitable donations for year

EconDiva

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #15 on: July 28, 2017, 09:57:14 AM »
Open a new bank account for a bonus that allows you to fund with a credit card. I used Bank of Colorado for $1,000 initial deposit via my Chase Reserve and kept it open to receive $200 bonus on the checking account too.

http://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/

Wow...I didn't know you could use a credit card to fund the initial deposit with some banks..??

I wonder if Chase will allow you to do this?  I have a Chase checking and a CSR as well.  I think they're also doing a $200 sign up bonus.

Anyone know of any 'catches' with these savings account sign up cash bonuses..?

Catbert

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #16 on: July 28, 2017, 11:19:19 AM »
Pay ahead on utility bills. 

Look at those regular bills that you have on auto pay.  Use the CC to pay them before they pull from your bank account.
 
Every time you go to a grocey store card buy a $100 gift card to something you'll use. (not so good from real mustachians who don't got to chain restaurants, drink starbucks or shop at department stores.)  However, you can always get a gift card for the grocery store.

As at least one other person mentioned this is better to figure out/time before you get the CC.

nouveauRiche

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #17 on: July 28, 2017, 11:26:08 AM »
Careful with the gift cards -- Amex in particular has been clawing back points earned by buying gift cards:

https://www.doctorofcredit.com/american-express-discusses-plans-fight-gaming-credit-card-rewards-investor-day/

Also watch for fees.  Visa gift cards have a "$5.95 purchase fee".

Hotstreak

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #18 on: July 28, 2017, 01:21:34 PM »
Careful with the gift cards -- Amex in particular has been clawing back points earned by buying gift cards:

https://www.doctorofcredit.com/american-express-discusses-plans-fight-gaming-credit-card-rewards-investor-day/

Also watch for fees.  Visa gift cards have a "$5.95 purchase fee".

Visa gift cards do, but store specific ones don't.  Amazon GC's (use to fund your own account), Home Depot, Kroger, etc.

Rhoon

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #19 on: July 28, 2017, 02:57:25 PM »
Pre-pay for a vacation. Marriott offers cheaper rates if you pre-pay for your stay. Airline tickets bill right away. Car Rentals also allow for you to pay up front to guarantee the car you want.

I like the idea of pre-paying utilities. My water bill allows me to pre-pay (otherwise they charge me $2.5/transaction). So I pre-pay about 6 months worth.

kpd905

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #20 on: July 29, 2017, 09:00:30 AM »
If you have a mortgage or rent payment you should be able to pay it through Plastiq, although you will pay a small fee (2.5%) that will be offset by your bonus.  They send a check so it will work even if you have a landlord to pay.  Obviously explore any fee-free options first though.

Lmoot

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #21 on: July 29, 2017, 09:16:18 AM »
 Purchase gift cards on discount gift card websites. You'll save on the gift cards, while earning points, while earning interest as you save up the cash in savings, assuming the card is also a 0% interest.

PiobStache

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #22 on: July 31, 2017, 03:05:03 PM »
You could start your wine cellar up with some careful purchasing.

SnackDog

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #23 on: August 01, 2017, 07:35:45 AM »
If you buy a fully refundable airline ticket and take the refund, can you keep the points?


Catbert

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #25 on: August 01, 2017, 11:24:02 AM »
If you buy a fully refundable airline ticket and take the refund, can you keep the points?

No.  Refunds/returns will be subtracted from you spend.

2Birds1Stone

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #26 on: August 01, 2017, 11:29:35 AM »
Open a Citizens Checking Account.

Not only can you credit card fun the first $600 but if you change your work DD to go there, they will actually pay you another $150.

Roots&Wings

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #27 on: August 01, 2017, 11:59:47 AM »
If you're considering bank account bonus funding, don't forget BMO Harris checking account, $1,000 cc funding and $200 bonus.

Re3iRtH

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #28 on: August 01, 2017, 05:37:01 PM »
If you're considering bank account bonus funding, don't forget BMO Harris checking account, $1,000 cc funding and $200 bonus.

What is the general consensus re: opening a new bank acct funded by the CC.. will the CC company catch on to this and possibly decline the points bonus?

Lmoot

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #29 on: August 02, 2017, 02:11:04 AM »
Or worse, code the transaction as a cash advance instead of a purchase...if cash advance, then you will likely immediately begin to accrue high interest, before you can pay it off.

Roots&Wings

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #30 on: August 02, 2017, 06:08:03 AM »
If you're considering bank account bonus funding, don't forget BMO Harris checking account, $1,000 cc funding and $200 bonus.

What is the general consensus re: opening a new bank acct funded by the CC.. will the CC company catch on to this and possibly decline the points bonus?

If it's a purchase, then no it won't be declined and counts as spending. I got bonus points on my BMO "purchase". Call your credit card company to set cash advance limit to $0 to be safe, but BMO Harris is known for coding as purchase, not cash advance (it often depends on the bank, not your cc, though I have no experience with Amex on this).
« Last Edit: August 02, 2017, 06:10:29 AM by step-in-time »

ender

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #31 on: August 02, 2017, 07:18:07 AM »
In the future always have a plan prior for how to reach the minimum spend before signing up.

If you book a vacation or otherwise spend more money just to get "free points" you've sort of missed the point of getting free points.


ducky19

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #32 on: August 02, 2017, 07:29:25 AM »
In the future always have a plan prior for how to reach the minimum spend before signing up.

If you book a vacation or otherwise spend more money just to get "free points" you've sort of missed the point of getting free points.

Agreed. That said, property taxes are a great way to generate spend, as are the checking account bonuses. I manufactured over $3k in spend this year funding checking accounts, then you can pay it back to the card you funded it from. I would steer away from gift cards - not only is AmEx cracking down, they are kind of a pain in the ass to do on a large scale. The checking accounts are much easier! Good luck!

lexde

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #33 on: August 02, 2017, 07:36:08 AM »
Open a PNC bank checking and savings account. You can fund each with a credit card up to $1000 each. That knocks out $2k in spend. Just pay your credit card with the bank funds and it's done.

Be sure to block or lower cash advance on your card just in case so you don't get hit with fees if your particular card codes it as a CA


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Re3iRtH

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #34 on: August 05, 2017, 04:25:10 PM »
Or worse, code the transaction as a cash advance instead of a purchase...if cash advance, then you will likely immediately begin to accrue high interest, before you can pay it off.

Hmm. Well, the Amex Platinum is a charge card, not a credit card. The balance is due in full every month. I don't think there is an interest rate.

Re3iRtH

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #35 on: August 05, 2017, 04:27:03 PM »
Do you have any trustworthy friends or family members who like to shop?  Ask if you can put their purchases on your card.  Then they pay you back with cash/check.

Funny that you mentioned that, my father just suggested the same thing. Send him a card, and he would buy stuff and keep track. Then just send me a check. I may have to end up doing this, as I see no viable alternative.

Re3iRtH

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Re: Help me spend $5000 in 2 months to get 60,000 pts bonus Amex
« Reply #36 on: August 05, 2017, 04:30:42 PM »
In the future always have a plan prior for how to reach the minimum spend before signing up.

If you book a vacation or otherwise spend more money just to get "free points" you've sort of missed the point of getting free points.

Agreed. That said, property taxes are a great way to generate spend, as are the checking account bonuses. I manufactured over $3k in spend this year funding checking accounts, then you can pay it back to the card you funded it from. I would steer away from gift cards - not only is AmEx cracking down, they are kind of a pain in the ass to do on a large scale. The checking accounts are much easier! Good luck!

Yep, it seems like folks uses to be able to purchase airline gift cards, and get them reimbursed via the $200 free airline credit the Amex Platinum card offers. https://thepointsguy.com/2015/04/how-do-i-use-the-amex-platinum-airline-credit/
However, this is different than purchasing gift cards for the simple "spend $5000 the first three months and get a bonus 60,000 points". Can someone confirm/deny this?

 

Wow, a phone plan for fifteen bucks!