Tips for Meeting Spending Requirements for Credit Card Sign-Up Bonuses

When signing up for a new credit card, one of the most important incentives to consider is the sign-up bonus.

Many cards offer sizable sign-up bonuses, which can be worth hundreds or even thousands of dollars. To qualify for the bonus, you typically need to meet certain spending requirements within a specified timeframe. Below, we'll share some tips to help you meet those requirements.

Understand the Terms and Conditions of the Offer

When you're considering a credit card sign-up bonus, it's important to understand the terms and conditions of the bonus offer. Some bonuses may require that you spend a certain amount of money within a designated timeframe to qualify for the bonus. Others may limit how much you can earn or have rules regarding the eligible purchases that count towards their spending requirement.

It's also important to be aware of any fees that may be associated with the credit card. For example, some cards may charge cardholders an annual fee, while others may have foreign transaction fees for purchases made outside of the United States. Be sure to read through all of the terms and conditions before deciding if a particular credit card offer is a good fit for you.

Look for Opportunities to Earn Bonus Points or Cash Back on Everyday Purchases

The quickest way to meet a credit card's spending requirement for its sign-up bonus is by using the card for everyday purchases. Look for opportunities to earn bonus points or cash back on items you purchase regularly or from retailers you frequently visit. For example, many credit cards offer bonus points or cash back for buying groceries, getting gas, or paying your monthly bills.

Some credit card companies partner with specific grocery stores and gas stations, and may even offer discounts and bonuses to cardholders on eligible purchases made through these retail partners. Additionally, some cards have no annual fee, making them great options to use for everyday expenses. By taking advantage of these bonuses, it's possible to meet a credit card's spending requirement and receive your sign-up bonus quickly.

Plan Your Spending So You Can Meet the Requirements on Time

When you are applying for a credit card that has a sign-up bonus offer, it is a good idea to pay attention to the statement close date. This is the date by which you must meet the spending requirement to qualify for the bonus. Generally, you have between three and four months from the time your new card is opened to meet the requirement. If you do not meet it within that time frame, you will likely forfeit the bonus.

One way to ensure you get a credit card sign-up bonus is to plan your spending so that it falls within the allotted time frame. This means budgeting your expenses and being mindful of when the promotional period ends. If you need to make a large purchase, try to do so early on in the promotional period. And if there are any bills that you can pay early or ahead of schedule, consider doing so. You may also want to consider using a credit card that offers rewards for everyday spending, such as cashback or travel rewards so that you can rack up points quickly. By following these tips, you'll be well on your way to scoring some extra rewards!

Consider Transferring Points From Another Credit Card

If you don’t think you can meet the spending requirement within a reasonable time frame, there are other options available. For example, some cards allow you to transfer points from another loyalty program or even buy points through the issuer’s website. This is a great option if you have lots of points on another account. Just be sure to read the terms and conditions carefully so that you understand all of the associated fees.

Ultimately, it’s important to weigh all of your options before signing up for a new credit card. Consider how likely you are to meet the requirements for a sign-up bonus and whether any other perks appeal to you.