I had stopped spending my regular discover card that I have had for 15 years. I had been averaging 3k per month and then a year ago discovered miles and churning etc.
They sent me a targeted offer: spend 3k per month for six months and earn $500 bonus to account.
So right now, I’m already MS more than normal for that 3k per month in addition to the sign ups for other cards.
If there are no bonus categories then my calculations go like this:
2 * 500 VGC + 2+4.94 fee +0.70 for WM MO = 11.28 per 1000 of MS on this new Discover card. Initial 1.5% back on card =15.17. Minus the MS costs of 11.28 = Profit of 3.89 per 1 MO.
At the end of the year, add in another 15.17 per MO.
Thus if you do 2 MO per day, 5 days a week 48 weeks a year (a few weeks of bora bora and hawaii travel right?) then when all is said and done you have bought 480 MO:
Initial profit accumulated through the year: 1867.2
At the end of 1 year added as a bonus: 7281.6
Total return = 9148.8
That is assuming you can move 2 MO per day and deposit in your credit union/bank without problems etc.
9k is pretty nice.