Question
Pretty good deal if you ask me..... (mathematically you can earn 7.5% cash)
Chase is offering new customers $100 for signing up for their Cash Plus Rewards Visa card thru the end of October. The sign up bonus is great, and so is the reward program.
You earn 5% cash back at supermarkets, gas stations, and drug stores. 1% elsewhere. While 1% is not great, I figure 5% beats most frequent flier cards in percentage earned per dollar spent. I will use mine only when & where I earn 5% and stick with the mileage cards elsewhere.
To sign up for the card you must call them at 1-888-787-0329 with the promotion code HG1, Z3R, or HF9 (according to FatWallet.com all of those codes are for the $100 offer) If they say the code is only worth $50 give them another code or hang up and try another agent. HG1 worked for me with no problems. $100 Offer (http://img205.imageshack.us/img205/8858/00014vw.jpg)
You max out at 30,000 points annually which is $300 in rewards. The sign up bonus already gives you a $100 reward. So after earning the bonus, you have $4,000 to spend (20,000 points to earn) the rest of the year to max out your rewards (assuming you spend only at the places giving you 5% back.) I wish the limit was higher, but I'll probably just sign up for the Citi Dividend Platinum when I've maxed the rewards on this card out (almost identical program minus the initial $100 bonus.)
So if you play it perfectly, and figure that you only had to spend $4,000 to earn a total of $300 back you are earning a whopping 7.5% on your spending! The only CC I have seen to beat that is Discover Specialty cards (where you can feasibly earn 10% back on Gas OR Home Improvement OR Restaurants, if you play the game perfectly (http://www.flyertalk.com/forum/showthread.php?t=466085&highlight=gas+save) (see the third post))
Cheers!