An Easy $150 (or $400+) From a Single Credit Card

Travel is great. Once I figured out that I could actually go some pretty cool places, I was hooked. I often plan trips a year or two out and then try to strategize how I can make them happen with a bonus here or a deep discount there.

But, alas, I know that travel is not for everyone. However, this does not mean that those who hate to travel have no ways to benefit from many of the same credit card offers that I've benefited from.

I recently wrote about my #1 credit card recommendation--the Chase Sapphire Preferred. It comes with a bonus that's worth at least $500. However, it also requires $4,000 in spending within 3 months to earn that bonus. 

I realize that this level of spending might be a bit scary for some people. I totally get it. 

There are other options that could still provide smaller benefits, but with a smaller required spend. 

One of these is the Chase Freedom Unlimited (for full disclosure, this is an affiliate link--I may be compensated if you sign up--you can get the exact same bonus by just googling the card and signing up there, as well). 

Benefits of the Chase Freedom Unlimited

The Chase Freedom Unlimited comes with a $150 bonus. This is admittedly less than the $500+ that you can get from the Chase Sapphire Preferred, but it's still a nice little chunk of change for very little effort.

If you're scared away by some of the big spending requirements of the Sapphire Preferred, you can get this bonus after spending just $500 over 3 months. That equals out to $167 of spending per month.

This does not have to be spending that you're not already doing. In fact, I do not recommend spending extra money just to earn a bonus (unless it's an annual fee on a card that gives you more benefits than the cost of the fee--but that's nothing to worry about with this card). 

How can you reach $500 in spending. Let's say you pay $100 in gas just commuting to/from work. That would get you 60% of the way to getting the bonus, and it's spending you're already going to be doing anyway. If you spend even $70 on groceries in a month, you've now qualified for the bonus. 

In addition to the $150 bonus (it'll actually be at least $157.50 after meeting the $500 minimum spend), the card also pays 1.5% cash back on every dollar spent anywhere. 

Again, I don't recommend spending more money than you would otherwise spend to get 1.5% cash back. That's bad math and bad for your finances. If you spend any more than 1.5% in excess of what you'd otherwise spend, you'll actually come out on the bad end of the deal. 

You can get the $150, use it as a statement credit or have Chase send it to you, and then you never have to use it again. 

The card comes with no annual fee whatsoever. You can keep it for as long as you like with no cost at all. The interest rate should not matter if you pay off your purchases every month. 

How You Could Get $400+

This trick will only work for folks in the same household who pool their finances. Chase has a refer-a-friend program. The link that I've posted that allows you to sign up for the Chase Freedom Unlimited is a referral link. 

Those who have access to the link will be able to share it via email or social media platforms to get a $100 bonus. 

So, here's the maths:

You get $150 (actually $157.50) after meeting the $500 spend.
You refer your spouse, who signs up. You then get a $100 bonus for the referral.
Your spouse then earns the $150 bonus (actually $157.50) after meeting the $500 spend.

This means that a couple could get at least $415 from each signing up for one credit card and spending $1,000 that they'd otherwise be spending anyways. Keep in mind that you may not qualify for the card, but if your credit is good, $150+ for an individual or $400+ for a couple in cold, hard cash is not a bad idea. 

In fact, if you're a disciplined spender who is not one of those folks who spend way more just because you have plastic, it's a bad idea not to take advantage of opportunities like this. 

If you like to travel, you could use this $415 to go toward a vacation. If you're a saver, it could go to your emergency fund or your retirement fund. You could pay a bit down on a house or car loan. It's straight up cash, and you can use it for whatever you want to use it for. 

If you decide to sign up, I'd appreciate if you'd use my referral link for the Chase Freedom Unlimited. If you want your spouse or significant other to earn the bonus, I'd actually appreciate if they use your referral link if and when it's available, rather than mine. Any bonuses will not be cut if you use referral links.  

If you have any questions about how this process works, let me know in the comments. I'll be happy to answer any questions. Also, if you find the information useful, be sure to sign up to follow the blog for updates.