While rewards credit cards dole out huge signup bonuses to new and old customers alike, there’s a big caveat everyone should consider before they sign up. To score a hefty signup bonus, you usually have to spend a pretty penny on your card within a short amount of time. While that amount can be as low as $500 in three months with most no-fee cash back credit cards, other premier travel cards require you to spend up to $10,000 in three months to earn a bonus.
If you have a lot of bills or can pay your mortgage with a credit card, this may be no big deal. But, what about the rest of us? Many of us with low expenses are one step ahead of the game because we’re able to save a ton of money, but it doesn’t make meeting these requirements easy.
If you want to score a big signup bonus and worry about meeting the minimum spending requirement in time, now is actually a good time to get a new card since you can use it for your holiday shopping. Beyond end-of-year spending, here are some other ways to hit the requirement without overspending or jumping through too many hoops:
- Pay your health insurance. If you buy your own healthcare plan through healthcare.gov or from an agency, you may be able to foot the bill with credit. We were able to pay our Anthem bill with credit with no fees when we had traditional health insurance. Now that we are with Liberty HealthShare, we are still able to pay our $449 monthly premium with credit and no added fees.
- Prepay your utilities. If you need to scale up your spending at the last minute, it may be possible to prepay your utilities. Most companies let you pay any amount over and above your bill, so why not prepay a few hundred bucks to get closer to a signup bonus?
- Pay your rent or mortgage with Plastiq.com. Plastiq lets you pay most bills with credit for a 2.5 percent fee. While it’s not worth it for everyday spending, it can be worth paying the fee if it gets you closer to a signup bonus. Further, you can still pay your mortgage with a MasterCard like the Barclaycard Arrival Plus World Elite MasterCard.
- Buy gift cards. I’ve bought a few hundred bucks in grocery store gift cards to meet a minimum spending requirement before. Just make sure you can either a) use the gift cards or b) liquidate them somehow.
- Make charitable contributions with credit. Many charities will let you make charitable contributions with credit. If you’re gearing up to donate at the end of this year, make sure to check. I just donated to the animal shelter where I adopted my dog and was able to use my credit card.
- Pay quarterly taxes. It’s almost that time again! Don’t forget that you can pay quarterly taxes with a credit card for a fee.
Related: Should You Pay Quarterly Taxes with a Credit Card?
The Bottom Line
If you’re struggling to figure out how to meet a minimum spending requirement, don’t be afraid to think outside the box. There are plenty of opportunities to prepay bills or pay bills with credit you never imagined. Sometimes, you just have to dig to find them.
Of course, the key to getting ahead with signup bonuses is only charging what you can afford to repay and avoiding debt like the plague. If you can’t avoid carrying a balance, steer clear of credit cards altogether.
For a list of more great rewards cards, head here.
How are you meeting minimum spending requirements lately? What would you add to this list?
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Delta® Reserve for Business
- Annual Fee: $450 fee
- Foreign Fees: No
- Card Type: Travel
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- Earn 40,000 bonus miles and 10,000 MQMs after you spend $3,000 in purchases with your new Card in the first 3 months.†
- Earn 15,000 Medallion® Qualification Miles (MQMs) and 15,000 bonus miles after you reach $30,000 in eligible purchases on your Card in the calendar year.
- Earn 2 Miles per dollar spent on eligible purchases made directly with Delta. Earn 1 mile on every eligible dollar spent on purchases.
- Settle into your seat sooner with Priority Boarding and enjoy 20% savings on eligible in-flight purchases in the form of a statement credit.
- Pay no foreign transaction fees when you spend overseas.‡
- Complimentary Delta Sky Club® Access.‡
- Terms and limitations apply
- See Rates & Fees
Delta® Reserve for Business
- Annual Fee: $450 fee
- Foreign Fees: No
- Card Type: Travel
| FTG Review | Reward Breakdown | Points Breakdown |
|---|---|---|
Breakdown
Earn (pt.)
Spend
3 months
0
$3,000
Per dollar on eligible purchases with Delta Purchases
2.00
$1
All Purchases
1.00
$1
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Already have this card? Maximize your rewards.
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