If you’ve worked through our “Become a Free Traveler” guide, you have learned to estimate your average monthly spending. Knowing your monthly spending can help you be sure you are able to meet minimum spend.
Many people think “how can I spend $3,000 in three months?!” It is actually easier than you think. Most people only put daily purchases, such as gas and food, on a credit card. If you’re not spending $1,000 per month on gas and food, it can be hard to meet minimum spend. Utilize our Monthly Spending Calculator to get a good estimate of what you could be spending on cards.
Thankfully, there are other ways to put spend on a credit card to help meet minimum spend. Let’s look at a few ways to help you meet minimum spend. For even more, check out 21 Ways to Reach a Minimum Spending Requirement.
Pay Bills With Plastiq
Plastiq is a great way to meet minimum spend. Plastiq is a bill pay service that lets you pay bills with a credit card that you normally couldn’t. You can now pay your student loans, rent, or even your car payment with Plastiq. If you have $1,000 per month in rent, a $300 car loan, and $250 in student loans, paying them through Plastiq adds an additional $1,550 per month of spend. With Plastiq, it becomes easy to meet minimum spend faster.
In full disclosure, Plastiq does charge a fee to perform this service. For any bill you pay through plastiq, it will cost you 2.5%. If you pay your $1,000 per month rent, it will cost you $25. While it isn’t a huge amount, it definitely isn’t something you can ignore.
That’s why I advise using Plastiq exclusively to meet minimum spend. It doesn’t make much sense when you’re only earning 1 point per dollar spent. However, when you’re getting 50,000 or more points it easily makes the fee worth it.
If you used Plastiq to meet an entire $3,000 minimum spend, it would cost you $75. The points earned could easily be worth $500 or more in free travel. Using Plastiq to meet minimum spend is easily worth the cost.
If you click this link to sign up for Plastiq, you’ll receive $500 fee free dollars to try the service out. This means you can make a payment up to $500 without paying the fee. That’s $500 towards minimum spend for no cost, which is a great way to try out a new financial services product.
Meet Minimum Spend by Paying Bills in Advance
There are a lot of bills that people pay monthly: car insurance, cell phone bills, even rent. Did you know you can pay many of these in advance?
A great way to meet minimum spend quickly is to pay your bills in advance. Instead of making the monthly payments on your car insurance, you can often pay it in 6 month or 1 year intervals. That can easily be $500 or more spend to put on your card.
Many apartment complexes will also let you pay your rent in advance. If your apartment lets you pay with a credit card, this can be a great way to quickly meet minimum spend. If not, consider using Plastiq to pay your rent in advance by check while getting your credit card points.
Pay Taxes Using a Credit Card
Did you know that the IRS allows you to pay your taxes with a credit card? Many people don’t, because the IRS doesn’t directly allow payments. You have to go through a third-party payment processor.
There are multiple out there, but 2 that we recommend because they charge a low 1.87% fee.
Paying your Taxes with a Credit Card can be a very easy way to knock out your required taxes and meet minimum spend in one go.
Buy Gift Cards in Advance
Buying gift cards in advance is a great way to meet minimum spend. How many people use Amazon or other online retailers to do all of their holiday shopping? I sure do. While the holidays make it easier to meet minimum spend, you may have a minimum spend in May that you’re needing to meet.
A great way to help meet minimum spend is to buy gift cards in advance. It doesn’t work only for the holidays either. You can buy gift cards to gas stations in advance, or grocery stores. Anywhere that you know you will regularly be spending throughout the year makes great sense to buy in advance to meet minimum spend.
Always Have The Money BEFORE You Spend
We want you to be responsible with points earnings, and it would be imprudent if we didn’t make it clear. Before you do any of these steps, make sure you have the money before putting extra spend on a credit card.
The interest can, and will, quickly eat up the value of the rewards you’re getting. So be sure that you’re being prudent and only spending money that you have.