Simply stated: by spending money! Go about your every day spending like you normally do and you could easily make $300. That's because every quarter Chase gives you the opportunity to make 5% cash back on each purchase you make (up to $1,500), as long as you follow their quarterly calendar. If you reach that $1,500 mark you'll earn $75 (boom! Winner, winner, chicken dinner)! After that, the rate goes down to 1% for the rest of the quarter.
- First quarter includes grocery stores, movie theaters, and Starbucks. I'm sure many (including me) can easily spend $1,500 alone at grocery stores. Hell, I can spend $1,500 at Starbucks, but I digress. Unfortunately, if you prefer big box stores such as Walmart or Target for groceries, that won't get you 5% cash back. You need to stick with the likes of Kroger, Publix, Jewel, Tom Thumb, etc. The first quarter ends March 31st.
- Second quarter merchants include restaurants, Bed Bath & Beyond, H&M, and Overstock.com. A little harder for me to spend $1,500 this quarter but it's still possible. For example, if you really like eating out, buy a bunch of gift cards from some of your favorite restaurants. Keep in mind (this is important), in order to get the 5% cash back at restaurants, you have to buy gift cards at the actual restaurant (not, say, the local grocery store gift card section). This quarter runs through June.
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Word of caution
No doubt about it, there are a lot of pluses to having credit cards. But it's not worth going into credit card debt to earn this $300. If you don't usually spend (or don't have the funds to spend) $1,500 at Amazon.com and other retailers, then don't. Having that extra $500, or $1,000 in your bank account for your rent or mortgage is more important than trying to get the most out of your rewards credit card.
Having said that, this is an easy way to get some extra cash by doing what everyone does: buying things. Not only that, but having a no fee annual fee credit card in your wallet long term is great for your credit score.
Do you do anything like this to earn extra cash?
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