New iPad 2 for $47

Here’s how to get your new Apple iPad 2 for only $47.

The Chase Sapphire Preferred credit card is giving away $500 in Best Buy gift cards. This is enough to buy a new Apple iPad 2 for only $47.

Apply for the Chase Sapphire Preferred credit card – no annual fee for the first year (saving you $95).
Spend $3,000 in the first 3 months (just $1,000 a month) on stuff you already buy (groceries, restaurants, gas, shopping, car repairs, cable – whatever you like).
Take the 50,000 points you’ve earned and exchange them for $500 worth of Best Buy gift cards (at Chase’s Reward website).
Visit the closest Best Buy (or go to www.bestbuy.com) and spend your $500 in gift cards on your new Apple iPad 2.

Apple iPad 2 (16GB, Wi-Fi) $499 + $48.65 (tax) $547.65

Best Buy Gift Cards – $500.00

Final Cost $47.65

Sound great? Then follow this step-by-step guide to get your new Apple iPad 2.

1. Apply Now for the Chase Sapphire Preferred credit card.

Apply for the Chase Sapphire Preferred Card (secure application)

2. Spend $3,000 in the first 3 months

Once you’ve been approved, spend $3,000 in the first 3 months (just $1,000 a month) on anything (groceries, restaurants, gas, shopping, car repairs, cable – whatever you like).

Of course, Chase wants you to start using their card for all of your purchases, but that’s up to you. They figure, once you’ve spent $3,000, you’ll be in the habit of using their card. If you use it long enough, they’ll earn back their $500 (and then some). Let’s face it, you’re a high value customer – this is why they’re making the offer.

3. Get 50,000 reward points

As soon as you spend $3,000 on the card, Chase will give you 50,000 reward points. You’ll see this on your credit card statement.

4. Collect your (5) $100 Best Buy gift cards

Next, go to Chase’s Ultimate Rewards site, convert your 50,000 points into (5) $100 Best Buy gift cards, and get them mailed to your home.

chase ultimate rewards best buy gift cards