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Minimum spend credit card bonuses are very lucrative, which makes it super important to hit them. Commonly, minimum spend is somewhere between $1,000-$5,000 in 90 days. That is quite doable for the average MSer, but occasionally it can be as high as $10,000 in 90 days (American Airlines World Elite). That is no number to scoff at. So, if you are having trouble hitting your minimum spend, here are a few ways to do it…
1. Manufactured Spending – This is the easiest and most cost effective way to hit any spend. If you want to learn about some of the methods, check out these posts:
2. Venmo – This is a service where you can send and receive money from friends. It’s free if you use a debit card, however, if you use a credit card there is a 3% fee. I would only use this method if you are out of options.
3. Square – Square is a credit card reader that charges a flat 2.75% fee. This can get expensive very quickly. To put it in perspective, if you charged $5,000 on Square it would cost $137.50 in fees. If you bought 10 – $500 OneVanilla cards instead, it would only cost $49.50.
4. Paypal Here – This is another credit card reader, that’s very similar to your are shut down.
5. Gift Cards – If you cannot find gift cards with PINs, why not buy some regular gift cards? They’re as good as cash and don’t have any fees. I often buy $100+ Amazon gift cards when I am hitting my minimum spend, because I shop on Amazon all the time.
6. Kiva Loans – Kiva is an awesome website where you can loan money to help entrepreneurs. The best part about it, is you can use a credit card to loan the money. Be aware, that your money will be tied up for 4-6 months or longer, depending on the entrepreneur.
7. Taxes – You can pay your taxes with a credit card for a 1.87% – 2.35% fee.
8. Charity – If you are a giving person, buy items with your credit card and give them to charity. This earns you points, a tax write-off, and feels good.
9. Every Day Spend – Use your credit card for all your normal spending, even if you have a card that gets better rewards. For example, use your card on utilities, groceries, gas, toys, ect. The sign-up bonus is worth far more than a few extra points with a better rewards card.
10. Pay Bills Ahead of Time – You can often pay car insurance and utility bills in advance. So, if you are paying them anyway, why not put them on a card you are trying to hit minimum spend with.
11. Tuition – This often costs 2%-3% in fees, but it’s another way to hit minimum spend if your desperate.
13. Make Purchases for Friends or Family – If someone close to you doesn’t use credit cards or care about miles/ points, ask to make their big purchases for them. You will need to make sure they reimburse you, but it’s a great way to get extra points and sign-up bonuses.
14. Buy Stocks – This can be a bit risky, but if you know stocks and invest already, why not get credit card rewards doing it?
15. Plan Ahead – If you are planning a trip, purchase it ahead of time. Of course, I would suggest making sure it is refundable, just in case your plans change. Only do this, if you actually plan on taking the trip.
Do you have any other tricks for meeting minimum spend?