A reader recently sent me his credit card points and bonus summary for 2011. It's a great example of how you can make a good amount of money using credit cards to get both bonuses and rewards. Here are his results:
New Cards, August 2011
- Wife--Chase Freedom, 20,000 points, no annual fee. -- $200 check received
- Husband--Citicard, 50,000 points, $500 gift certificates, however $125 annual fee. -- $375 net in Lowe’s cards
- Wife--Chase SWA, 50,000 points for $833 flights/$500 cash; $99 annual fee. -- $734 net in flights redeemed
- Husband-- Chase SWA, 50,000 points for $833 flights/$500 cash; $99 annual fee. -- $734 net in flights redeemed
- Husband—Chase Freedom, 30,000 points after spending $2500, no annual fee. -- $310.92 check received
New Cards, December 2011
- Wife—Citicard Thank You Premier Card, 50,000 points w/ $2500 in 3 mos. -- $500 check to be received
- Wife—Chase Sapphire, 50,000 points after spending $3000 in 3 mos. -- Pending ($500)
2011 Points Redeemed for Spending on Cards
- Wife’s SWA spending; 8,000 points redeemed for $100 gift cards/special deal -- $100.00 Amazon cards
- Husband’s Chase Sapphire spending/redemption in 2011; $29,836 on card. -- $298.36
- Husband’s Citicard spending; Around $11,000 so far, 10,000 points redeemed. -- $100 Barnes/Noble cards.
Grand Total for 2011: $3,852.28
He ended the summary with the following quote:
"The beauty of having spotless credit. Bonuses/Redemption not taxable income, which is HUGE!"
Gotta love it!!! ;-)
If you're interested in making more money with credit cards either by getting large bonuses or simply using the cards, I keep lists of both the best cash back credit cards (for use) and best credit card bonuses.
FYI, I'll report my credit card rewards for the year once I get around to adding them all up.