Meet $1,000 in Minimum Spending Requirements for $8!

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UPDATE: The offer for the British Airways card in this post has expired.  But check Hot Deals for the latest offers!

If you need to meet minimum spending requirements on a new credit card, there’s a way to complete $1,000 in spending from home for only $8.  And, you could even profit! 

Meet 1,000 In Minimum Spending Requirements For 8

Easily Meet Minimum Spending Requirements When You Open a Tech CU Checking Account! You Can Fund up to $1,000 With a Credit Card. And Even Earn a Bonus for Opening the Account!

When you open a new Tech CU checking account, you’re allowed to fund up to $1,000 with a Visa, MasterCard, or Discover credit card.

I’ll explain why this can be useful and easy for lots of folks.  And what to look out for!

What’s the Deal?

Link:   Tech CU Checking Account Promotion

Tech CU is a credit union based in California.  You can become a member after you pay $8 to join the Financial Fitness Association.  (Or you can sign-up directly with Tech CU if you live or work in certain California counties).

Meet 1,000 In Minimum Spending Requirements For 8

Earn Miles or Points (and Meet Minimum Spending Requirements) While Still in Your Pajamas. And Soon You Might Be Getting Comfy in These British Airways First Class Pajamas! :)

Via Doctor of Credit, you can fund your new checking account with a Visa, MasterCard, or Discover credit card up to $1,000!  This is fantastic news for folks who need to complete minimum spending requirements.

This deal was supposed to have expired, but it’s been extended through July 31, 2016!

Not only will you earn bonus miles or points, but you won’t even have to leave home!  

Meet 1,000 In Minimum Spending Requirements For 8

Use Promotion Code “MOVEON” When You Open Your Account to Earn $150 After Setting up Direct Deposit and Using Online Bill Pay!

Tech CU’s basic checking account is free to open and keep (there are NO fees or minimum balances to worry about), and it’s possible to earn a $150 bonus for opening a new account!

You’ll earn $100 for setting up a recurring direct deposit of $500+, and another $50 for making a bill payment online.  This promotion runs through July 31, 2016, so you have plenty of time to sign-up for a new credit card, then open a new checking account.

Enter promotion code “MOVEON” when you sign-up to earn the bonus!

Be sure to read the comments on this post to see which cards folks have used, and how they got their $150 bonus.

Note:   AMEX cards can NOT be used to fund a Tech CU checking account.

Is It Safe to Fund a Bank Account With a Credit Card?

I’ve written about how to open a bank account with a credit card.

It’s is an excellent way to meet minimum spending requirements AND earn extra miles and points – as long as the credit card funding transaction does NOT post as a cash advance!

You can check this thread to see which cards post as a cash advance.  In general, Bank of America, Barclaycard, Chase, and most Citi cards will usually NOT post the charge as a cash advance.

But other banks (in general) WILL.

Meet 1,000 In Minimum Spending Requirements For 8

Don’t Pay Cash Advance Fees! Be Certain You’ve Set Your Cash Advance Limits to $0 to Avoid Losing Out on the Deal!

The best way to ensure your transaction won’t post as a cash advance (which will NOT count toward minimum spending or earn miles and points) is to contact your card issuer and have them set your cash advance limit to $0.

The exception is Chase – ask them to lower it as much as they can.  Most folks ask for a $20 cash advance limit and don’t have an issue.

Call the number on the back of your card to lower your cash advance limit.  That way, if the bank tries to process the funding of your new account as a cash advance, the transaction will be declined.

Meet 1,000 In Minimum Spending Requirements For 8

Where Will You Go With All the Miles or Points You’ll Earn? Many Credit Cards Have Fantastic Bonuses After You Meet the Minimum Spending Requirements

These cards might be good choices for funding this account:

I haven’t tried any of these myself, so be sure to set your cash advance limit to zero before you fund your account with these cards because cash advances typically will NOT count toward your minimum spending requirements OR earn miles or points.

Let us know in the comments how it works for you!

Are There Drawbacks?

If you’re careful to avoid cash advance fees, the only out-of-pocket cost is the $8 fee to join the Financial Fitness Association.

And at best, you can earn bonus miles or points (and meet your card’s minimum spending requirements) from home.  You can even earn $150 for opening the checking account, which means you’ll actually profit $142 – not to mention all the miles or points you can earn!

It looks like there are no early termination fees for closing the account after you’ve earned the $150 bonus.  That said, it’s free to keep and there are no minimums to think about, so it’s up to you whether or not to close it.

Bottom Line

You can open a Tech CU checking account after you spend $8 to join the Financial Fitness Association. And then fund the account up to $1,000 with a Visa, MasterCard, or Discover credit card!

This is an easy way to earn bonus miles or points, or meet the minimum spending requirements on a credit card, and the account is free to open and keep!

You can even earn a $150 bonus for opening the account after you set-up a recurring $500+ direct deposit and pay a bill online.

Be sure to set your cash advance limits to $0 (or $20 with Chase) before you fund the account with your credit card.  Call your bank and ask them to help you do this to be on the safe side.

Let me know about your experience in the comments!

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15 responses to “Meet $1,000 in Minimum Spending Requirements for $8!

  1. If this credit union permits use of credit cards for initial deposit, does that mean they also accept credit cards for deposits thereafter?

  2. looks like the wifey is getting a new CC!

  3. If credit card allowed for initial deposit only, then, for me, its too much effort for nothing. For about $12 one can buy 2x$500 gift cards and be done with it.

  4. But here you have the option of paying back to the credit card using the bill pay and earning $50 extra as well! So bonus points as well as extra cash for spending almost nothing!

  5. I just tried to apply: it required me to open a primary saving account as a bundle – which I do not like. So I stopped. Did any one encounter the same?

  6. They also ask you to open a saving account with it and you can’t remove it during the application process.

  7. @Cr90 happened to me too but i didn’t sign up to be a member of financial fitness association for $8 first so i thought that could be the reason why. did you sign up for this?

  8. @Gary70 – what do you do with the gift cards afterwards? I thought you can’t use those to fund your BB and such anymore.

  9. I was only able to get the credit advance limit reduced to $100 for my Chase (Hyatt) credit card and not $20. Will this suffice? I wasn’t sure why it was recommended that we request the limit be reduced to $20 specifically. If i fund the new bank account with $1000, I should be okay right, since it is greater than $100?

  10. @chris Yes, I signed up Financial Fitness Association membership first. But still got the saving bundle. I wasted my $8. I hope readers pay attention to my experience.

  11. Signed up for Financial Fitness Association first. Then applied for the Basic Checking, using the MOVEON promo code. Yes, you are required to open a savings account with it (as is the case with most credit unions). Funded the account with my Southwest Premier cc, with $25 towards the savings account, $975 towards checking. All is set up. Just waiting for the packet in the mail for account and routing numbers in order to set up direct deposit, etc, in order to get my $150. Companion Pass here I come!!!!

  12. @HeavenlyJane – No, only for the initial deposit.

    @Chris – Enjoy the extra miles or points! 🙂

    @Gary70 – That’s true, too. This could be another option to help out some folks.

    @Pritish – Exactly! That’s the best case scenario.

    @Cr90 @bin5 – That’s pretty common with a credit union. It should all still be free.

    @Grace – You should be good to go.

    @Antonio – Woo hoo! You will love it. Thanks for adding your experience!

  13. I’d like to use my Chase IHG card to fund this account, but I found this on the link you posted concerning which banks will post as a cash advance:
    Chase cards. All Chase cards will post as a cash advance.
    I already contacted Chase and got my cash advance limit reduced to $100, but am wondering why you suggested a few Chase cards to use with this promotion. Are these specific cards that are the exception to Chase’s cash advance policy?

  14. I think Darius suggested those specific Chase cards, as they are the best earning points/miles cards that Chase offers, and gives you a wide choice of hotels and, in the case of Ultimate rewards, Airlines. Why use cash back when you can get 1000 points or miles for $8 fee. Also, until 12/31/15 Citigold was allowing their initial deposit as a credit card as well, including their aadvantage card. It seemed like you could conceivably *(if you had a killer credit line) fund the account with an opening deposit of, say 20,000. Since the only allocate about 20% to cash advances, if it went through you would be sure that at least 16,000 or the 20K was a non-cash advance. They do the 50K Aadvantage miles for opening a Citigold package quarterly, but this quarter it’s a 5 times bonus of the 0,1% interest (up to 0.5% APR interest on your 50K) Not a great deal at all compared with what 50K in Aadvantage miles with cost even in a buy 150,000, get a bonus of 115,000 for $4,600, which I think is currently still being offered. It’s a way to get a lot of miles, but for me paying 4,600 for 265,000 miles seems like a lot. I had a friend call it “so cheap” and I reminded him that the airline had instituted an increased mileage requirement for most international first class, so they were still earning the same fee, just giving you a bonus and charging more points-kind of a sleazy maneuver IMHO. LOL. Long live Parker (f you want bad food-I just got back from a first class grip and had food poisoning for 4 days in bed, in a 3 class 777ER from Sao Paulo, supposedly one of their premier locations where they make a ton of money-you can usually tell because they are the routs that get the nicest aircraft first, like LHR, and formerly the transcon before they changed to all narrow body, which I find a bit non-roomy compared with the old DC-10’s of the 90’s with the order to desire chateaubriand, lobster tail salads and caviar. A great airline in the 90’s. To get that level of service you need to fly a middle eastern or Asian International Airline these days, domestically those days are gone and probably not coming back.

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