How to Get $1,000 in Cash with Good Credit

How to Take Advantage of The Chase Sapphire Preferred® 100K Welcome Bonus

If you have good credit and are able to sign up for a new credit card, you can easily get $1,000 in cash. Here's everything you need to know about this exciting offer:

The New Chase Sapphire Preferred® Offer:

• Starts: April 3, 2025

• The Reward: 100,000-point welcome bonus, which can be redeemed in two ways:

  • $1,250 in travel points OR

  • $1,000 in cash when you meet the spending requirements.

• Spending Requirements: $5,000 within 3 months

How to Meet the $5,000 Spending Requirement

I know that spending $5,000 in 3 months sounds like a lot of money - and it is! But here are a few creative ways to reach the spending requirement without unnecessary purchases:

1. Mortgage or Rent Payment

For many people, just using this card for their housing costs could easily meet the requirement.

2. Groceries

With Americans spending around $500 per month on groceries, this can add $1,500 toward the spending requirement over three months.

3. Car Payment

The average monthly car payment is between $500 and $700. Putting this expense on the card could add $1,500 - $2,100 to your total spend.

4. Paying in Advance

If possible, make an extra car payment or rent/mortgage payment to help meet the requirement faster.

Who Is the Chase Sapphire Preferred® Good For?

✅ Frequent Travelers

If you love to travel, this card is a great choice. The 100,000 bonus points can be redeemed for $1,250 in travel through Chase Ultimate Rewards® or transferred to airline and hotel partners for even greater value.

✅ Everyday Spenders

The card offers bonus points on dining, travel, streaming services, and online grocery purchases, making it easy to rack up rewards on common expenses. Points can be used for travel, cash back, statement credits, gift cards, or even Pay Yourself Back™ for eligible purchases.

✅ People Looking for a Low Annual Fee Travel Card

At $95 per year, this card is one of the best entry-level travel rewards cards available, offering premium benefits without a high price tag.

✅ People Who Haven't Opened a New Card Recently

If you have opened fewer than 5 credit cards in the past 24 months, you have a good chance of approval.

Who Is This Card NOT Good For?

❌ Big Spenders Who Want Luxury Perks

While this is a great travel card, it lacks premium perks like airport lounge access, elite status, or travel credits that high-end cards (like the Chase Sapphire Reserve® or Amex Platinum®) offer.

❌ Anyone Who Can’t Meet the Minimum Spend Requirement

You need to spend $5,000 in 3 months to earn the 100,000-point bonus. If that’s unrealistic for you, consider a card with a lower spending requirement.

❌ People with Low Credit

The Chase Sapphire Preferred® typically requires good to excellent credit (around 700+ FICO score) for approval. If your credit is below this range, you may want to build your score with a lower-tier card first.

❌ People Who Are Currently Getting a Credit Check

If you’re in the process of applying for a mortgage, auto loan, or other major financing, a hard credit inquiry for this card could temporarily lower your score. It may be best to wait until after your loan is secured.

Final Thoughts

The Chase Sapphire Preferred® 100K welcome bonus is an incredible opportunity for those who can meet the spending requirement and maximize the rewards. Whether you use your points for $1,000 in cash or $1,250 in travel, this offer is a fantastic way to get significant value from your everyday spending. If you're in the market for a rewards card, now is the time to apply!