Many people want the best cards like a Chase Sapphire Preferred, Chase Ink Business Preferred. Here are some great ideas on how to hit those minimum spending requirements in order to achieve your bonus.
After reading through this list, make sure to do a rough monthly spending calculation on your regular monthly expenses. Often, there may be regular expenses you are making that aren’t yet put on a credit card. Here’s a link to our monthly budget calculator. I’ll link this again at the bottom as a reminder.
Big Expenses
1. Home Improvement Projects
A lot of people can knock out a single bonus with one project. I hear this a lot, “we need to get a card because we’re about to spend a lot of money on our house.” That’s great thinking. Put those expenses on cards.
2. Big Purchases – Cars, Appliances, Furniture, etc.
Car dealerships will let you put a few thousand dollars on a credit card as part of your down payment. Also, if you’re trying to hit a bonus when it’s time to replace your refrigerator, that can ease the pain of such a big expense. Most good credit cards come with extra protection and sometimes double the warranty of a cell phone. That is reason enough to buy with a credit card.
3. Insurance – Car, Home, Life, Health, etc.
Paying insurance with a credit card can be a great way to hit a bonus – especially car insurance since they are so high these days. If I have the savings, I will often pay for 6 months or an entire year in full so that I put a larger amount on a card all at once. Do a quick scan of all your insurances – car, home, life, health, dental, vision, etc. – and see if you could be paying with a credit card.
4. Food
Most people know that food is one of the larger monthly budget items. Eating out and buying groceries really add up if you put all expenses on a card. Many cards give you 2x or 3x points for these purchases too.
5. Car – Gas, Maintenance, and Repairs
Whether it’s an annual tune-up, new tires, gas, or an unfortunate repair, make sure you use your card. It certainly eases the pain when you know the expenses will help to hit a bonus.
6. Other Repair Services
Most self-employed and big service repair businesses (plumbing, HVAC, electrical, etc.) accept credit cards. They either carry a small card reader, or you can call the card into their main office. It never hurts to ask.
7. College Tuition
Sometimes you might have to pay a fee, but do the math and see if it’s worth it to get thousands of points with one swipe.
8. Other large expenses: Taxes, Mortgages, and Car Payments
There are fees involved. It could be worth it to do the math if a fee is worth paying in order to hit a big bonus. Our article, Pay Taxes via Credit Card, is a step-by-step guide into how to pay for your taxes with a credit card.
9. Be “generous” to your friends
Offer to pick up the check or pay for stuff whenever anyone is splitting the bill. They can Venmo you back and you just got more spending on your card! Or, if a friend is needing to buy a refrigerator or car repair, see if they’ll let you pay for it and have them pay you back. Make sure you trust your friend to pay you back!
10. Business Reimbursements
Many people work for businesses, organizations, or schools that will let them use personal cards and get reimbursed for purchases. So, the next time you are purchasing airfare, hotel rooms, or office supplies for your business, put the expenses on your card! I didn’t realize this soon enough. I used to be a tennis coach. I missed out on thousands in expenses in hotel rooms from our road trips.
Everyday Spending
Many people use a debit card for everyday expenses. They are missing out on lots of points over time! Especially if you’re trying to hit a bonus, make sure you are using that card for all your purchases.
11. Cell Phone Bill
12. Cable/TV/Internet
13. Utilities
Note: Some of these services may charge a fee to use a credit card.
14. Clothing
15. Doctor Visits & Childcare
Co-pays, prescriptions, etc. If you have an HSA, then check the terms of your program to see if you can pay for your medical expenses with your credit card and reimburse yourslef with your HSA funds. This may also be an option with your FSA and paying for childcare.
16. Monthly subscriptions
Services like Netflix, Spotify, Hulu, etc. Even gym memberships can all be paid with a credit card.
17. Donations
Whether you give to a school, non-profit, or religious organization, most of these groups are set up to take credit cards.
18. Entertainment
Movies, bowling, mechanical bull rides, laser tag, etc.
Other Ideas
19. Holiday gifts
So much money is spent at the end of the year. It’s definitely a good idea to line up a new card before all of those holiday gifts are purchased.
20. Dinner and drinks with friends
Sometimes it’s easier for one person to pay. Then, everyone gives them cash or uses Venmo. Be the person to pay the bill with your credit card. =)
21. Buy stuff for your friends or family
There’s normally someone in your family or group of friends that are making a larger purchase. Ask them to let you pay with your card and have them write you a check.
Last tip: Make it easy on yourself
If you know you’ll hit your spending bonus, don’t change all the little auto-pays. I don’t mess with changing the small monthly subscriptions. My #1 card is my Chase Sapphire Preferred. I use it whenever I’m not trying to hit a bonus for another card. We spend ~$2,500 per month on average, so I have my Netflix, Hulu, and other small subscriptions (less than $10 per month) on auto-pay with my Chase Sapphire Preferred. I don’t need those purchases in order to hit a bonus, so It’s not worth the time to rotate those auto-pay cards every few months.
Related Articles:
Travel Freely’s Monthly Spending Calculator
Pay Taxes via Credit Card, 2021 Edition
Why We LOVE the Chase Sapphire Preferred Card
