The goal: free flight to Greece without paying any annual fees or interest on the charges.
The timeline: I'll be there in June 2011
The process: So far I've signed up for one Visa that gives miles on American. I have to spend $1500 in the next six months to get 75k miles. If I also sign up for their Amex, that'll be a commitment of $3,000 spending in six months to get 150k miles, which would be PLENTY for the trip - if I can successfully use them to book the travel.
The result: I'm going to Greece, baby! It's a dang good thing I signed up for two cards for a total of 150k miles, because my only option is to travel first- and business-class all the way, for a grand total of 125k miles and $700 spent. I didn't expect to pay money, but I forgot the traveler still has to pay the taxes and fees, and the taxes are based on a first-class fare, so they added up quickly. But wow, a first-class international flight is pretty exciting. Apparently you even get pajamas when you fly first class on British Air. I shall be sure to take notes, friends.
As planned I didn't pay any interest or fees. I still have to cancel the cards and will do so as soon as they approve me for yet another 75k mile reward card. Me, hooked?