If you don’t want to deal having to remember to cancel your card, the regular non-Preferred is now offering 25,000 points worth $250 cash after you spend $3,000 in purchases within the first 3 months, and there is no annual fee in the first year or subsequent years. The non-preferred used to give out their bonus with no minimum purchase requirement, so personally I’d rather take the extra $250 via the Preferred.
Ideas for reaching the purchase limit without spending more money that you would otherwise include: prepaying any monthly bills like utilities and let the credit go down over time, pay your 6-month auto insurance or home insurance bills via lump sum, that don’t expire and then spend them gradually, from places you will shop at eventually through PlasticJungle or similar (Home Depot, Target, etc.), buying $1 coins from the US Mint (you’re basically buying cash), or buying grocery store gift cards (Safeway cards at Safeway). Basically just shift your usual expenses.
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