I have one of these cards, and you have not been fully accurate with your research and details here. You make too many bad assumptions.

True, they have a cap on the "bonus" points offered in any given month. I knew that when I applied for the card. I DO read the fine print before obtaining such things. However, they DO pay those bonus points out on purchases at places like Home Depot and Lowes. I max out on those points some times during the year, due to my many purchases at Lowes and Home Depot. I have also used the card to pay for things like lunch at fast food joints, and the bonus points apply to those purchases as well.

I just received a bonus check from CHASE last week, to the tune of $250.00. Not bad, since I don't pay them any interest, and they pay me plenty to use the card.

Here is my latest conquest at Lowes:

They now have a "tax rebate" gift card promotion, where you buy a special gift card with your tax refund check. You don't HAVE to use your tax refund check, but that is a good source of money for many folks this time of year. The link:

http://www.lowes.com/pd_59983-0-SPOCC-TAX_4294794068_4294925544_?catalogId=10051&productId=3323530&Ne=4294925544&identifier=Tax+Refund+Card&cm_cr=Homepage+1.2-_-Web+Activity-_-Homepage+A6+Activity+3.3.11-_-HomePage_Area6-_-10605_3_PROMO_6NPC_Tax

On March 18, Lowes will add another 10% of the INITIAL VALUE of the card to its present balance. Minimum purchase is $500, and max is $4000. I chose $2000, since that is the max amount that Chase will pay bonus points on. So, a card with an initial balance of $2000 will ultimately be worth $2200 in merchandise purchases.

Next, I went to a local post office, and got a change of address kit. Included in that kit is a coupon for 10% off at Lowes.

Then, I went to a Lowes store in DELAWARE, and bought $1800 worth of goods, and presented the 10% off coupon, and paid for it with the tax-refund gift card. Since I usually shop in Maryland, that netted an additional 6% in sales tax savings.

Got my CHASE bill, and it had over 6000 cash-back points, including the 4000 max'd out bonus points. 3% savings. Total savings on that one purchase? 29%!!

Top THAT one Ed.