Credit Card Hacking: Cash Bonuses

In our last article, I wrote about safely pocketing some hidden green through credit card hacking. 

That article revolved around only hacking reward points or miles. I thought it'd be good to also share about hacking cash bonus rewards.

Hacking credit cards for the cash bonuses is basically the same. But there is a trick you should know to make sure you do it right.

First you've got to vet the right reward offer. Check off the list below to make sure the offer and you are a match made in heaven. 

1. I have ZERO un-paid debt
2. I ALWAYS pay off my credit card bill in full each month
3. I recognize the offer fits WELL WITHIN my lifestyle cost
4. I understand the ENTIRE offer.

You'll soon get the card. And after, the only thing that should change in your life is using your new card instead of your old card. Do not buy more to hit the offer. That is a clown consumer move.

Because you checked off the list you'll hit the number in time. A few weeks later the cash bonus will become available. 

Here is the trick to getting your cash bonus: 

When accepting the cash do NOT accept it as an account credit. Accept the cash bonus as a direct deposit or check. 

If you accept the cash bonus as account credit the cash bonus goes to your credit card balance. The green stays with your bank. And frankly, that's bullshit. So make sure to request the cash bonus as a direct deposit or check.

After the cash deposits in to your bank account you may want to use your old card again. If so, stop using your new card, pay off its remaining balance, and then close the new card. 

That's it. Easy, peezy, baby.

It looks like two of the cash bonus offers I used in the past are still available.

Capital One Quicksilver -- $100 cash bonus after spending $500 in the first 3 months 
Chase Freedom  -- $150 cash bonus after spending $500 in the first 3 months

When I'm not hacking a reward deal, I go back to using my Citi DoubleCash card which gives me 2% cash back on all purchases. This is a simple, great deal.

Go start getting the hidden green out of every purchase. Follow the checklist it, and you'll be stoked. Good luck!

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