Thanks! I actually enjoy games like that. By my estimation, I can pick up an AT&T 950XL for $232 (including sales tax). An AT&T customer could get it for $188 since they wouldn't have to pay for an unused month of AT&T service.
$95 - annual card fee
$45 - cheapest AT&T smart phone plan for a month (deal requires 15 days)
$20 - lost rewards over my other cards for the $2,000 I have to spend on this new card
$52 - sales tax on the $650 phone.
$6 - lost checking account interest on the $2,000 that would have been spread out over a few months.
Process (not all steps necessarily in order):
- Get the CitiBank card.
- Order a 950XL from AT&T with the card.
- Deal requires $2,000 of charges within 3 months so immediately purchase $2,000 of Amazon and/or other retailer gift cards (or $1,350 if the phone counts toward the $2,000).
- Activate phone on delivery then pull the SIM and toss (or keep for a month or until phone is sold).
- Cancel AT&T service after 15 days - minimum for the deal.
- Submit claim for $650 reimbursement credit to card.
- Sell the 650XL (or replace wife's 640 with it) - I'm getting my unlocked 950XL from MS or B&H.
- Receive $650 credit for the phone.
- Pay full balance on card.
- Use any rewards from this card if possible and easy (might lower my out of pocket of $232).
- Cancel card
If my wife keeps the phone, I may need a 3rd party to request an unlock code since we are on T-Mobile. AT&T will issue an unlock to anyone not a current or past AT&T customer for any phone not under contract. I know because I got unlock codes for AT&T 640s I bought as gifts and didn't even have to open the boxes since the IMEI is on the label. Unfortunately this deal requires ME to become an AT&T customer so I can't get the code for the 950XL myself. Not sure if my wife will be considered a customer since we live at the same address.
I don't really need the phone and my wife can have my 1520 instead if she wants when MY 950 arrives. But I like the game, so might just do it. I can't see it costing me more than a few hours of free spare time.