When I signed up to those two cards, it was $3k spend in 3 months for each card. I also signed up at different times. For my Amex platinum I actually put my security deposit on it for 2k and 2k down on a car haha.
You can manufacture spending and spend something like $10,000 a month on gift cards, then turn that back into cash to pay your credit card bill. Not sure how to do it and its also risky. AMEX/Chase have been closing accounts for it and one guy was doing it with Money Orders and the US Postal Service went after him for money laundering.
As for me I have a natural spend of about 5500 a month for all expenses and rent. I paid rent using Plastiq (2.5% fee) for a while and got triple points before Chase cut off the triple points offer on Plastiq's services. They re-categorized it as a business service instead of travel.
It definitely favors higher incomes for sure.
I can put 4-5000 a month on a card and with point bonuses, earn something like 6-8000 points per month. So in 2 years we'll have enough to go on another dream vacation (Probably Japan again cause it was amazing!).
EDIT: You can down grade your card to a no fee card after you've gotten your bonuses. Then later re apply. AMEX has language in their Terms that limits you to 1 bonus per card per lifetime, but recently some of their cards do not have that language. Chase limits you to 5 cards opened in a 24 month period, regardless of the credit card servicer. Citi also has some form of restriction. This all recently started in the last year or 2.
You can manufacture spending and spend something like $10,000 a month on gift cards, then turn that back into cash to pay your credit card bill. Not sure how to do it and its also risky. AMEX/Chase have been closing accounts for it and one guy was doing it with Money Orders and the US Postal Service went after him for money laundering.
As for me I have a natural spend of about 5500 a month for all expenses and rent. I paid rent using Plastiq (2.5% fee) for a while and got triple points before Chase cut off the triple points offer on Plastiq's services. They re-categorized it as a business service instead of travel.
It definitely favors higher incomes for sure.
I can put 4-5000 a month on a card and with point bonuses, earn something like 6-8000 points per month. So in 2 years we'll have enough to go on another dream vacation (Probably Japan again cause it was amazing!).
EDIT: You can down grade your card to a no fee card after you've gotten your bonuses. Then later re apply. AMEX has language in their Terms that limits you to 1 bonus per card per lifetime, but recently some of their cards do not have that language. Chase limits you to 5 cards opened in a 24 month period, regardless of the credit card servicer. Citi also has some form of restriction. This all recently started in the last year or 2.