[bonesinger]

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.

[Sleeep]

AMEX is calling out downgrading after 12 months as a way to lose your sign up bonus as of a few weeks ago. They are cracking down on people who don't have a serious interest in keeping the card. This is one of the reasons why I said the golden age is well over - https://www.doctorofcredit.com/amex-updates-terms-penalize-g...