One concern people often have with a card like this is, “How do I meet the high minimum spend?”
The minimum spend to earn the welcome bonus on this card is $8,000 in 3 months.
That’s a lot.
You may not be sure how you could spend enough to hit it.
Not to worry.
There are other ways to generate this spend.
I’ll share one of my favorites today.
Funding bank accounts.
Some banks allow you to fund accounts using a credit card.
That’s what I did this past week.
We needed some extra spend to hit the $8,000 for our 2nd Chase Ink Business Preferred card.
US Bank is known to allow credit card funding of new business accounts up to $3,000.
I opened up a new account for one of our businesses & used the credit card to fund $3,000 into the account. Bingo! Now I only have to spend $5,000 to hit the minimum required to receive the bonus.
If I still didn’t think I’d be able to spend $5,000 in the next few months, I could open up another business account in my wife’s name and fund $3,000 again.
And spending this way on the card doesn’t cost you anything. You just pay off the $3,000 on your card & you’ve got $3,000 waiting for you at US Bank that you can transfer back to your ordinary bank.
But, it gets better.
US Bank is running a promotion where you get $800 if you open a business account and fund it with $25,000 by the 30th day from account opening & hold it until the 60th day. Or $400 if you just deposit $5,000.
So, last week, I opened the account with $3,000 from my credit card, I’ll transfer another $22,000 in there by Day 30, let it sit for a month, and then I’ll have $3,800 in there that I can transfer back out.
How sweet is that?
And if I open that second account in my wife’s name, we could earn another $800 following the same process.
All in all, we’d get $6,000 in free spend on the credit card toward the $8,000 minimum with a $1,600 bonus to boot.
Bank Bonuses combined with Bank Funding can generate substantial extra money to support your ministry.
**Oh, and if you decide to jump in on this incredible Chase Ink Business Preferred offer, make sure you do so in the next 2 weeks before it expires.
Here's our referral link if you'd like to use it:
https://www.referyourchasecard.com/21q/ROATXA3MY8 (they'll give you 100k points for hitting the spend & 20k additional points sending them a Secure Message after you hit the spend)
