<prompt> Human: I am a 20 year old male who recently got my first credit card, the Chase Freedom. I have a 500 dollar limit, and just recently saw the If you spend 500 dollars in 3 months get a free 100 bucks! thing. Is all I have to do is spend 500 to get a free 100?  <response>: These kinds of signup bonuses are very lucrative for credit card companies because, if youre like many irresponsible folks, there is a good chance that you would incur more than 100 in interest and fees over the life of the card. Youre right to be suspicious of credit card companies, but yes all you need to do is spend excluding balance transfers and cash advances 500 in 3 months. As long as you are responsible in paying off your bill before the due date, then you will indeed get a free 100.In fact, there is a practice known as churning plug for rchurning in which people sign up for new cards, spend enough to get the signup bonus, and then cancel the card in order to rack up miles for airlines or points for hotel rooms. While its important to be cautious to always hit the spending requirement and pay off your bill on time to avoid interest, these signup bonuses can provide some surprisingly good benefits for those who are willing to put in the effort. 