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- Earning credit card sign-up bonuses is the fastest way to earn rewards for (nearly) free travel.
- Typically, cards have a minimum spending requirement you need to meet in order to get the bonus.
- If you don't think you can meet the spending requirement, there are tricks to help you get there.
Introduction to Credit Card Spending Requirements
Understanding Spending Requirements
Opening a credit card and earning the sign-up bonus is one of the easiest and quickest ways to amass a ton of rewards points, cash back, airline miles, or hotel points.
To earn these valuable bonuses, you'll usually need to meet a spending requirement, meaning you must spend a specific amount within a certain initial timeframe. For example, the Chase Sapphire Preferred® Card offers a bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That's worth around $1,080 in travel, based on Business Insider's points and miles valuations.
One of the best times to open a new rewards credit card is during the holiday season, when you've probably got significantly more expenses than usual.
Importance of Meeting Spending Requirements
Once you open a credit card, you only have one shot to get the welcome bonus. If you don't meet the requirement, you'll miss out on the bonus — and in some cases, you won'tever be eligible to earn the bonus again (even if you close and reopen the card). You should never go after a bonus that you're not certain you can achieve.
That said, there are a handful of practical strategies you can use to meet higher spending requirements than you might first think. Let's take a look at a few powerful ways to meet credit card minimum spending requirements.
Strategies for Meeting Spending Requirements
Everyday Spending and Bills
This might seem like an obvious one, but all the same: It's often possible to use a credit card for purchases that you usually pay for with cash, check, or bank transfer. Concentrating all of your daily, weekly, and monthly spending on your new credit card — even small purchases like a cup of coffee — can help you hit the minimum spend by adding up, or pushing you over the edge if you're getting close.
Funnel all your spending through your new card — even if it means ignoring bonus categories from other cards. The most important card to spend on is the one with which you're trying to earn a welcome bonus.
Many utility companies let you pay just about any amount, even if you're paying more than your current bill. While you may not be able to get any overpayments refunded, those funds contribute to your next statement.
If you can comfortably float the money, you can pay for a few months' worth of utilities early in order to meet your minimum spend requirement if you're getting close to the deadline.
Pre-paying Recurring Expenses
There are a few services that let you pay your rent or mortgage by credit card. The way they work is by charging your card, then printing and mailing a check to the recipient (your landlord, management company, or the bank that holds your mortgage). Plastiq is the most popular option.
While these services charge fees, usually between 2% and 3%, paying that can be worthwhile if it helps you meet the minimum spending requirement. For example, if your rent is $2,000 a month, and you use your card for one month, the fee at 2% would only be $40. That's a small price to pay for a 50,000-point sign-up bonus if it makes the difference between meeting the spending requirement or missing out.
Making Large Purchases or Planned Expenditures
When you're out to dinner with a group, instead of splitting the bill, see if your friends would mind letting you put the whole bill on your new card, and paying you for their share.
You can take advantage of times that you're planning to spend more than normal to open a credit card and put your big purchases toward the minimum spending requirement. For instance, consider opening a new card before you book a vacation, do your holiday shopping, or make a down payment for a new car.
Pay Taxes
If you're a small business owner — even someone with a low-earning side gig like DoorDash delivery or dog sitting — you can bang out a significant chunk of minimum spending by using your new credit card to pay your quarterly taxes. Just note that, similar to paying rent with a card, you'll encounter some service fees (usually at least 1.87%). Because of this, it's not a good option to use unless you really don't think you can meet your spending any other way.
Avoiding Pitfalls
Avoiding Unnecessary Spending
The first rule of credit card rewards is to never spend more than you can afford in the pursuit of earning points and miles. But if you come up just a bit short of hitting the minimum spending requirement for a sign-up bonus, these tips can help you get the rest of the way there.
FAQs
What are credit card spending requirements?
Spending requirements are the minimum amount you must spend on your credit card within a specific timeframe to qualify for sign-up bonuses or rewards.
How can I meet my credit card's spending requirement without overspending?
Focus on routing your regular, planned expenses through your credit card, such as groceries, utility bills, and subscriptions, and consider prepaying some bills if possible.
Is it a good idea to make a large purchase just to meet a spending requirement?
Only if the purchase was planned and fits within your budget. Avoid making unnecessary purchases just to meet the spending threshold.
Can transferring balances or paying off other credit cards count towards the spending requirement?
Generally, balance transfers and direct payments to other credit cards do not count towards spending requirements. It's mostly new purchases that qualify.
What happens if I don't meet the spending requirement?
If you don't meet the spending requirement within the specified timeframe, you typically won't receive the sign-up bonus or rewards associated with that spending threshold.
Senior Reporter
David is a Senior Transportation Reporter for Business Insider. He primarily covers airlines and air travel. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. Before joining Business Insider, David was a freelance writer and editor — before that, he worked in public affairs. He earned his bachelor's degree from Muhlenberg College and his master's from the University of Edinburgh in Scotland, UK. You can follow him on Twitter or Instagram, or send him an e-mail at [email protected].
Credit cards reporter
Joseph Hostetler is a credit card expert who specializes in helpful miles and points tricks. He is also a Certified Educator in Personal Finance (CEPF).Joseph has more than six years of experience writing professionally about credit cards, previously authoring and editing for The Points Guy and Million Mile Secrets.
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