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The 250 points do not have to be used to buy an airline ticket, the rules say "CAN be used"
Also no limit to the number of cards you can sign up for with "new business names". And because these are business cards they won't show up or impact your credit when you cancel after receiving your points. What will impact your credit are the inquiries each time you apply but that is minimal.
There are peolpe who have gotten 40 cards and turned it into $10K in HomeDepot GCs. They're blacklisted by AMEX now but other than that it works.
i just got this card, but tiger direct has a deal where you get the exact same thing but a 100 GC as well, check their site!