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Before you even apply for a travel rewards credit card, you need to think about how you’re going to complete the minimum spending requirements. If you don’t meet the minimum spending, you will not get ANY bonus points. But meeting the minimum spending requirements is a lot easier than it looks, even with cards such as the Chase Ink Business Preferred℠ Credit Card that have a minimum spending requirement of $5,000 within the first three months of account opening. By meeting this spending requirement, you’ll earn 80,000 Chase Ultimate Rewards points!
You don’t need to spend any more money than you usually would to meet the minimum spending requirements. We are sharing our top tips for completing spending requirements that you probably haven’t thought about. And for even more ways, check out our guide on How to Meet Credit Card Minimum Spend – 40 Powerful Ways!
How to Meet the Minimum Spending Requirements for New Credit Cards, Including Credit Cards for Chase Ultimate Rewards!
1. Pick the Right Credit Card Depending on Your Financial Situation and Travel Goals
The first and most important step is to open a rewards credit card that fits your financial needs and personal goals. Don’t open a credit card with a minimum spending requirement you can’t reach!
Make sure to find the credit card with the best benefits for your personal goals, too. For example, I see myself traveling a lot in the next year, so I plan on getting a sign-up bonus that allows me to redeem my points towards flights! For beginners to the miles and points world, we recommend the Chase Sapphire Preferred® Card.
2. Avoid Using Cash
Put the new card in the front of your wallet. Until you’ve met the spending requirement, avoid using other credit cards and absolutely avoid using cash!
3. Pay Your Mortgage, Rent, or Car Payment with Plastiq
Plastiq is an excellent tool to pay bills that you couldn’t otherwise pay with a credit card. This includes rent! Plastiq charges a 2.5% fee to pay most bills, so calculate the total beforehand to make sure it’s really worth the fee.
When I signed up for an account with Plastiq, my 2.5% fee was waived on my first bill (up to $50)! After that, you will need to calculate the total amount of fees that will be added to your rent by using Plastiq, and decide if it’s worth paying the fee or not.
Just being able to use Plastiq once to pay your rent by using your credit card will put a significant dent in that number you need to hit the minimum spending requirement! Use Plastiq only if you can’t meet the minimum spending requirements any other way.
4. Transfer All Your Bills
When I get a new card, I change the payment method on every bill to the new credit card. This includes car insurance, cell phone, internet, Spotify, and bills like gym membership. Do this immediately, so you don’t miss the opportunity to charge a recurring bill to your new card.
5. Buy Holiday and Birthday Gifts in Advance
With the holidays coming up, it’s the perfect time to begin shopping early! Using my new credit card to shop for family and friends is a great way to take on a few hundred bucks onto the card to meet that minimum spending requirement. Then, I can treat my friends AND myself with the travel rewards!
Be sure to check out our guide on How to Earn TONS of Bonus Points by Using the Chase Ultimate Rewards Shopping Portal. And for travel-related gift ideas, bookmark our list of 19 Fantastic Gifts for the Traveler in Your Family, & How to Earn LOTS of Points for Buying Them!
6. Pay for Medical Expenses
If you have a Flexible Spending Account (FSA), you probably have a debit card to use for your medical expenses. I have had situations where my FSA didn’t have enough money to cover a hefty medical expense, so I had to use my credit card to cover it until I was able to reimburse myself. This can work in most cases, even if your FSA isn’t short on money.
You can pay for your FSA-approved expenses on your credit card and submit a request for reimbursement. It takes some extra time and effort, but when you’re trying to meet the minimum spending requirement, it helps!
7. Add Family & Trusted Friends as Authorized Users so Their Spending Counts
Add your parents, trusted friends, and other family members as authorized users so their spending counts, too! Just have them write a check or Venmo the expenses back to you. If you know they will have a big purchase coming up, offer to pay with your credit card if they can pay you back with cash.
8. Prepay Bills in Advance
Some businesses let you prepay your bills in advance. Check with your car/home insurance company, your cell phone provider, and your internet provider to see if you can prepay bills for months (or even the year!) at a time. Just make sure that you can pay off the balance in full when the bill is due.
Believe it or not, it’s easier than you think to meet the minimum spending requirements on your new credit card! Even if you don’t put your rent, mortgage, or car payment onto your new credit card, you can still meet the requirements by just following the tips above.
What steps do you take to meet the minimum spending requirements on a new card? Let us know in the comments!