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

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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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