Getting Creative: Mininmum Spend Requirements

Getting Creative: Mininmum Spend Requirements

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On Friday I wrote about what I don’t post about, the primary focus being manufactured spending.

One of the most common questions clients and friends ask me is “how do I satisfy the spend requirements for so many new cards?” Though, per my policy, I do not go into heavy detail, some advice I do give can be applied here.

Here are three rules that should govern your ability to reach spend requirements:

  1. Put every purchase on a credit card–avoid the places that have a minimum spend requirement or charge a fee for credit card, because then you’ll end up spending money you aren’t intending to. Putting every purchase on your new card will quickly add up, and thus, satisfy those spending requirements.
  2. Only sign up for cards knowing you can meet the spend–Don’t go hog wild opening up 5 cards and having $15,000 in minimum spends you can’t meet. Sure, this will take you more time to accrue the miles, but you’ll be ensure that you actually earn the bonus.
  3. Sign up for new cards before big purchases–Hopefully, you plan your big purchases: new car, moving to a new apartment/home and need to get new furnishings, planning a wedding, or some other big life milestone moment: these are easy ways to reach your spend.

That being said, here are some everyday creative ways you can meet the spend requirements (some may be pretty obvious/common, some maybe not).

  1. Put every transaction on a credit card–See above.
  2. Prepay your utility bills–some utility companies let you prepay over your currently owed amount. They will charge a flat convenience fee whether you pay $50.00 in gas/electric or prepay $1,500.00.
  3. Charitable donations–sure you can write a check, but most organizations will take a credit card and not pass on the fee.
  4. Medical bills–The health provider wants you to pay your bill, so they also take credit card. As above, a check is easy, but so is credit card. Plus you get points.
  5. AMEX Auto Purchasing Option–Title says it all; up to $2,000 at select retailers.
  6. Work expenses–Travel for work, or dine out on their dollar? Ask if you can charge and be reimbursed.
  7. Dinner with friends–You may already do this, but instead of splitting the bill 36 different ways, get your friends to let you swipe and have them QuickPay or Venmo you their balances.
  8. Peer-to-peer payments–These options should be used as a last resort, as they will charge a fee anywhere from 2 – 3% on top of your charge, but they may be worth it if you have no other way of meeting the spend requirement(s).

Really number 1 is the most important, and you may already be practicing some of these, but if you’re not, and there’s no fee, you’re missing out!


-The Miner

1 Comment


March 14, 2016 at 10:15 pm

Great post! These are all non-MS ideas which I guess is why you’re sharing them. My favorite places to prepay (#2) are EZPass, metrocard, ConEd, Sprint, Verizon, and my local supermarket. Of those, only con ed charges a fee and it’s very small- $3.35 and you can load up to $1500.

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