Unlock the Secrets: How to Score Your Credit Card Welcome Bonuses without Unnecessary Expenditures
Credit Cards
How to Earn Credit Card Sign-Up Bonuses without Overspending
Want to get the most out of your credit card sign-up bonuses, but worried about overspending? Here are ten golden strategies to optimise your rewards without unnecessary spending:
1. **Shift Your Regular Spending to the New Card**
Max your everyday spending on this card. Transition all your daily buys from the annual groceries, gas refills to toiletries from your old card or cash payments to the new credit card. Additionally, charge all substantial outlays like vacation bookings or furniture shopping to the new card to expediate the journey to meet the minimum spend requirements for rewards.
2. **Move Recurring Payments to the New Card**
Switch all your automatic payments to your new card, like Netflix subscriptions, gym memberships, or mobile phone bills. Altering these is usually a simple online process. You can always shift them back to your usual account after qualifying for the bonus, if that’s what you prefer.
3. **Align New Credit Card Applications with Major Expenses**
Be smart and plan your finances. If heavy expenses like an insurance renewal, a vacation or replacing an appliance are on the horizon, time your new card application nicely so that these charges fall within the bonus period.
4. **Time Your Charity Donations**
Schedule your regular donations to charities to also fall within the bonus period. Most organizations accept credit card donations, providing you an opportunity to score bonus points while doing good.
5. **Prepay Bills**
If your utility allows overpayment, going into credit can help save on future bills. Doing this allows you to fulfill spending criteria faster. But check with your providers first, as it’s not always an option.
6. **Purchase Gift Cards**
Buy gift cards from your go-to stores, restaurants, or hotels to raise your spend and attain your credit card bonus swiftly. With the bonuses gained, you’re virtually making future purchases with free money.
7. **Advance Gift Buying**
Take advantage of your card’s bonus period and shop for birthdays, Christmas or special events in advance. Not only can you avail of off-season deals, but it also helps meet spending requirements quicker.
8. **Use Amazon Rebate Websites**
You can secure enormous savings or cashbacks using rebate sites like RebateKey for Amazon purchases. If the rebate is 100%, you’re essentially getting the product for free, all the while notching up spending on your card.
9. **Add an Authorized User**
Adding a family member as an authorized user, if your card allows, can speed up the spending process significantly. Bear in mind that you’re the one liable for any overspending, though.
10. **Utilize Plastiq for Non-Compatible Vendors**
Plastiq offers a workaround option for making payments to vendors who don’t accept credit cards by making wire transfers or checks on behalf of you, charged on your credit card. This service is more so meant as a lifeline for one-off expenditures, as they do charge a 2.85% fee for each use.
To sum up, wise and responsible credit card usage can unlock various reward opportunities. By implementing the strategies listed above, you can maximize your rewards without spending more than your regular expenditures or making unnecessary purchases.
