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How to meet minimum spend

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page. It was originally published on Jan. So, today I want to go through my list of 11 tips to ensure that you hit that threshold and earn the bonus.

SEE VIDEO BY TOPIC: How to Meet Minimum Spend Requirements - Spending Tips to Get Your Bonus

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SEE VIDEO BY TOPIC: How does Credit Card Manufactured Spend work to meet Minimum Spend

My experience attempting a Chase welcome bonus extension

Travel hacking is one of the biggest ways to save hundreds, if not thousands, of dollars on your annual travel expenses. Thanks to travel hacking, you can take your annual vacation, virtually for free. In this post we will be talking about my favorite credit card minimum spend tricks, hacks, and tips so you can cash in on travel hacking.

One thing is true about the best travel credit cards with sign-up bonus offers, is that they always come with a stipulation that you must meet the credit card minimum spend in order to receive the points or miles. In return for meeting the minimum spend, you can expect to receive between 50, and 75, miles or points. This amount is enough for at least two domestic flights or one international flight sometimes more , and in the case of hotels, is enough for at least a few free nights, depending on the category of hotel.

The hotel stay cost , points for five nights, which I earned with a 75, point promotion and then built up the rest of the points. Credit card companies are offering these bonuses to suck you in , and you have one shot, and one shot only to meet the minimum spend requirement, so it is imperative that you do so, otherwise those bonus points are lost for that rewards credit card you could apply again in the future though, after two years.

The first rule of meeting a credit card minimum spend requirement is to NEVER spend more than you can afford to pay off in full the next month. That is the golden rule — as it makes no sense if you dig yourself into debt and start paying a bunch of interest or fees in order to travel with new credit card offers.

And obviously, if you already have credit card debt, you should NOT even think about travel hacking. Instead, go read my article about tackling debt. First and foremost, put ALL of your regular spending on the card from your groceries to your gas to your cell phone bill. You will be surprised at how fast your spending adds up when you account for your regular monthly expenditures.

This means that you should stop using cash, checks, and bank transfers unless it is otherwise impossible. If you have any big purchases pending in the near future, plan your credit card applications around that, that way you know that you will have an easier time meeting the minimum spend requirement.

Big purchases in this context could be anything really, so long as it is a big-ticket item that you know you are going to have to purchase within three months. Examples could include purchasing pricey electronics like TVs, cameras, computers, cell phones, or any already planned travel like airlines, hotels, etc you can use your current vacation spending to get your next one for free. Also think about things like auto repairs, home improvements, wedding expenses, and whatever else you are looking at spending a lot of money on.

When I was planning to return from Argentina and shipping my truck back to the United States after driving from Seattle , I applied for a card and paid for the shipment and flights on my new Marriott card, which got me most of the way there to meet the minimum spend requirements. That credit card also gives a free annual night certificate which you can use for numerous upscale or luxury properties, like when I used mine at the Medellin Marriott Hotel.

Another obvious credit card minimum spend trick is to just volunteer to put some large expenses of good friends or family on your card to help you reach the minimum spend and then have them pay you back with cash or check. If it is a member of your household, you may even want to add them as an authorized user so their spending will help you meet the goal.

Likewise, if you are going out for dinner or drinks with friends or family, be the person to volunteer to pay the tab and then collect the money by cash, check, etc. This type of spending is particularly effective, not just for the credit card minimum spend requirement, but also for certain cards that get 2x 3x or 4x points on dining spending. Because obviously any spending you do when trying to meet the minimum spend also counts in terms of racking up points in the normal form beyond the large bonus.

This is probably the ultimate of the credit card minimum spend tricks! What I mean by that is there are a few nifty tricks out there where you can meet your minimum spend requirement for credit cards without actually kissing that money goodbye. The tactics change with time, but one common tactic is to buy gift cards from retailers for places you frequent. This can be done with Amazon gift cards, gas cards, restaurants, and so on and so forth. It can even be done with generic Visa gift cards which can be spent on anything, and in turn, some people will buy money orders with those cards and then deposit them back into their bank account, although there are fees to buy those gift cards and some people have mixed results when buying money orders with a prepaid visa.

People even send money on PayPal eating the credit card processing fees in order to meet minimum spending requirements. Consider applying for credit cards when you know you will be shopping and spending more money than you otherwise would be. Holidays are one of the most obvious times to apply for credit cards with large bonuses, but the same could be said for any other similar occasion, whether it is birthday gifts, anniversary gifts, etc. You could also just do this shopping in advance, by buying these items for the coming year during your minimum spend promotional period.

Of course, you could also make charitable or religious contributions with a credit card in order to help you meet the minimum spend. Another common tactic includes making microloans via Kiva to a needy entrepreneur in a developing country.

Online services like Plastiq allow you to pay for those regular bills which do not normally accept credit cards. This means that you can pay your pricey rent or mortgage with your credit card which will go a long way in helping you meet the minimum spend requirement.

Although they no longer accept mortgage payments with Visa or American Express. They do charge a 2. But if you do the math on a worst-case scenario of paying 2. Which is still pretty good considering you can get a value of hundreds or even thousands of dollars out of those points. For some bills, like your utilities, cell phone bills, internet bills, and so forth, you can often prepay or overpay your bills in order to have a positive credit which will be deducted from future bills.

This is another good way of floating yourself a loan in order to meet the minimum spend with a short period of time. Whether it is your Federal or state income taxes, property taxes, or other taxes, you can make often make these sorts of payments by credit card with a small associated processing fee, such as that mentioned with Plastiq.

For normal spending, in terms of paying bills with a normal travel rewards credit card for points, these fees usually are not worth it in terms of trying to rack up points. But these small fees are definitely worth it if it means the difference between getting or not getting a big sign up bonus. Still a worthwhile trade for hundreds or thousands in travel rewards. One very easy, albeit slightly risky, way to meet your minimum spend requirement is to buy and resell items.

Simply put, you purchase items with the credit card and then resell them new in box , even if it is just at cost, through online marketplaces, whether it is eBay, Facebook, Craigslist, or so forth.

Turning a profit and getting points is definitely a win-win. Try to purchase hot items that are easy to sell, particularly if you can find good deals through coupons, discounts, sales, and so forth. Be sure to use cashback sites like Rakuten to get a bit of extra cushion on your resell purchases. If you have a small business, you can find even more opportunities to capitalize on travel bonuses that apply to business credit cards and for which you can place all of your related business expenses in order to meet the minimum.

I go into more detail in my guide to the best travel credit cards. My final tip is to automate your finances, meaning that you will automatically pay off your credit card bill s in full, each and every month without missing the due date and incurring late fees or other penalties. But again, I put my finances on autopilot as much as possible, just doing quick reviews on a weekly basis hello, Finance Fridays. I hope this helped you get started travel hacking! I know it can be confusing when you are just getting started, which is why I started writing so extensively about it!

If you have any questions about travel hacking, budget travel, or anything else shoot me an email at ryan desktodirtbag. As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.

Please let me know with a comment on the blog below or reach out to me on Facebook or Instagram. Feel free to share a photo on Instagram with the desktodirtbag hashtag once you put this into action! If you enjoyed this post about credit card minimum spend tricks, please take a moment to share it on Pinterest, Facebook, or Twitter. Your email address will not be published. Sharing is caring! This article may contain affiliate links.

If you make a purchase through these links, I will earn a commission at no extra cost to you. Big Travel Small Budget. Instructions You should already have a good handle on the fundamentals of personal finance , including not carrying a balance on any consumer debt before you get started. Review my article about conquering debt if you need it.

Identify your travel goals and timeline, including whether you are targeting free flights or free hotel stays to start with, what airline network best services either your local airport or your dream vacation. Find the best credit cards for travel hacking that will help you meet your goals.

Apply for your new credit card before any big expenses existing travel, electronics, auto repairs, taxes, etc and put all of your recurring bills or other expenses onto the new card.

Read more about credit card minimum spend tricks. Put a note on your calendar 11 months from now about the upcoming annual fee, this will ensure that you can call to either cancel or downgrade the card before the fee hits if you want.

I use Google Calendar for this. Sign up for Mint. Mint is also a great way to help manage your personal finances in general.

Keep maximizing your point earnings by joining airline dining programs, using the airline shopping portals, and double-dipping on points by buying gift cards for upcoming purchases. Enjoy your travel hacking lifestyle and the ensuing free vacations! Notes I hope this helped you get started travel hacking! I love getting questions! That is how I get ideas for my blog posts and what to write about!

Recommended Products As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases. Did you find this helpful? The following two tabs change content below. Bio Latest Posts. Ryan is an author, adventurer, perpetual wanderer, and self-proclaimed dirtbag but that might not mean what you think.

Originally from Seattle, he headed to Washington D. He set out truck camping to road trip across the American West. Since then he set out traveling to Colombia , drove across all of Central America , and also wrote a best selling book: Big Travel, Small Budget. He just finished driving his old truck across all of South America. Follow the adventures on social media or read more about me. Latest posts by Ryan see all. Leave a Reply Cancel reply Your email address will not be published.

25 Ways (and Counting) to Meet Minimum Spend Requirements

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Earning frequent flyer miles and travel rewards through credit card sign-up bonuses is far and away the best way to get large chunks of points quickly. However, when deciding which credit cards are right for you, there is one thing you must be keenly aware of:. When most of the top-end credit cards offer a sign-up bonus, they also require you to spend a certain amount of money in a short period of time to get that bonus. Always, always, always make sure you can meet the minimum spend requirement before opening the credit card.

Tips to Meet Credit Card Minimum Spend

A shadowy figure pauses outside, his breath visible in the cold night air. Just then he turns and the mysterious gentlemen lock eyes with you through the slit in the door. He enters the room, sets a worn briefcase on the table with a thud, clicks the scratched golden locks open and slowly reaches in. He then hands you the golden key to a free trip. It feels small and has a bunch of numbers on it. Is it some kind of secret code? As he closes the lid on his briefcase, which he must carry due to his employment at a credit agency, he gives you brief instructions. That is all. You hear the briefcase slam shut, the locks slip into place and he abruptly leaves the room, letting out an accidental burp on his way the gift-giving stranger has heartburn from the sausage he ate for dinner. The biggest challenge in Travel Hacking is figuring out a way to meet the minimum spend in the allotted time without going bust.

10 Sweet Ways Travel Hackers Can Meet the Minimum Spend Requirements

This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on this page are from our partners, like Citi, but our coverage is always independent. Opening a credit card and earning the sign-up bonus is one of the easiest and quickest ways to amass a ton of points or frequent flyer miles — and it can even improve your credit score in the long term.

Credit cards that offer big bonuses all come with one catch: the minimum spend. There are lots of ways to reach your spending goal.

Travel hacking is one of the biggest ways to save hundreds, if not thousands, of dollars on your annual travel expenses. Thanks to travel hacking, you can take your annual vacation, virtually for free. In this post we will be talking about my favorite credit card minimum spend tricks, hacks, and tips so you can cash in on travel hacking.

11 ways to meet credit card bonus minimum spending requirements

Meeting minimum spending requirements to earn lucrative sign-up bonuses can sometimes be difficult. And, as important as it is to have a sound earning strategy once you have the cards, earning sign-up bonuses are important. Below are ways to meet minimum spend requirements. Bottom line: Putting your everyday spend on your credit card is the most important thing.

That is because it is common for the banks to mandate that you reach a minimum spending on your credit card before certain lucrative bonus and rewards start to kick in. This is already considered a relatively low minimum spending credit card. To qualify for cash rebates of more than 0. As a result, he ended up fretting over the next few days on how he could achieve the minimum spending lest the cash rewards would slip away. It was definitely a case of so near yet so far.

25 tricks and hacks to meet your credit card’s minimum spending requirement

Meeting a credit card minimum spend to earn a signup bonus is the most lucrative way to earn a lot of miles and points for travel. Nothing could be further from the truth or even remotely financially responsible. This will hurt your credit score and make it harder to apply for more credit cards in the future. The better, not to mention more responsible, strategy is to meet the minimum spend requirements with the money you already spend every day and each month. Before listing ways to meet minimum spend requirements, there are a few important things to keep in mind to avoid making a costly mistake. Use your new credit card to pay for all your everyday expenses.

To qualify for cash rebates of more than %, the minimum spending is $ per month on the OCBC credit card. There were several occasions in the past.

A few days back, I wrote about how American Express was automatically giving customers extra time to meet minimum spend requirements for welcome bonuses. Very soon, Chase also followed suit. However, Doctor of Credit then reported that Chase was extending this automatically for certain qualifying customers. As Covid19 has triggered a global recession, consumer spend has slowed down.

40 ways to meet a credit card’s minimum spending requirement

Because we are paid by our advertising partners it may impact placement of products on the site, including the order in which they appear. Not all available credit card issuers or card offers are included on the site. Credit card companies have introduced some exciting offers in the past month or two.

16 Ways to Meet Credit Card Minimum Spend Requirements

But the initial spending threshold required to earn the bonus might seem nearly impossible to reach. But take heart: A little planning and some clever spending can make it easier earn that bonus, even if the minimum spend requirement initially seems out of reach. On the flip side, if you have the funds, you can also use that new card as a reason to finally get your air conditioner repaired or update the living room.

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How To Meet Minimum Spending Requirement On Your Credit Card

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