cancel
Showing results for 
Search instead for 
Did you mean: 

Creative ways to meet bonus spending requirements

Established Contributor

Re: Creative ways to meet bonus spending requirements

When I got in with barclay I went with arrival not arrival+. Simple reason, I didn't want an $89 a year fee. I also didn't want to get the higher spend bonus then pc with them. I think it shows more responsibility to lenders if you app for a card that you actually want and will utilize it's features. Just my opinion.

------$6000-----------$22200-----------$9500--------------$6000------------$9000-------------$5000----------- $15000----------$18000
TU FICO: 758, EX FICO: 751 1/12/17
Message 11 of 84
Valued Contributor

Re: Creative ways to meet bonus spending requirements

It's probably been discussed here but not something that I've had a reason to pay any attention to. Thought about this when I saw the card display while I was grocery shopping today. I later ran some numbers to see how much I'll spend by the end of April. I think I should have created a plan before I applied for the cards. Two weeks later would have got me into the following month's bills. I don't intend on creating new debt just to meet the requirements. I just use my cards for normal expenses. I've learned from past mistakes. I rather save than spend extra. 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 12 of 84
Valued Contributor

Re: Creative ways to meet bonus spending requirements

I just thought of a way to meet the requirements if I come up short with monthly spending. April is tax time and I will owe them some money. I'll just use the card instead of sending a check then pay that off. I believe the fee is 1.87%. It will be a done deal either way! 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 13 of 84
Established Member

Re: Creative ways to meet bonus spending requirements

You pay for insurance monthly or annually?

 

APR Promo?

 

If you rent can you use a card? 

 

Lots of ways to meet spend bonus. I'd pay union dues, Send Verizon and Comcast a quick 500 each, Finish of insurance policy for another 1k. Always a big purchase coming up, APR promo great for that. Send me a venture...   I'll meet the bonus tomorrow. If you're going to spend the money regardless it might as well get charged. If you cant PIF calculate the interest vs the bonus. So you waste 25 a month on interest and get 400 back after 3 months. I'm not suggesting you rack up debt for no reason. Math doesn't lie, If you gotta throw away 200 for 400 you still win. 

 

Message 14 of 84
Frequent Contributor

Re: Creative ways to meet bonus spending requirements

Before she said gift cards, I was about to say fast food, do you need a new flatscreen tv? How about a well needed vacation to Aspen?

That's what was on the tip of my tongue.

Message 15 of 84
Valued Contributor

Re: Creative ways to meet bonus spending requirements

I'll have to see if I pay a fee to have my car insurance broken up over 12 months. I still have 6 months to go so that would be about $400 and possibly save me some money. I'll check to see if I can pay some utilities more than the balance. I'll be taking a trip sometime this year. Don't know when. That would easily eat up the difference. 

 

These are the creative suggestions that I was looking for when I posted this thread. I still have 2 1/2 months so I might be fine but others can benefit from them.

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 16 of 84
Moderator

Re: Creative ways to meet bonus spending requirements


masscredit wrote:

I'll have to see if I pay a fee to have my car insurance broken up over 12 months. I still have 6 months to go so that would be about $400 and possibly save me some money. I'll check to see if I can pay some utilities more than the balance. I'll be taking a trip sometime this year. Don't know when. That would easily eat up the difference. 

 

These are the creative suggestions that I was looking for when I posted this thread. I still have 2 1/2 months so I might be fine but others can benefit from them.


You have a plan, and it will work just fine.  Enjoy your sign up bonus.

 

Folks here are conditioned to be on the look out for MS since it's thought to be unethical by many folks, and is beyond the purpose of this forum.  There are lots of other forums for that; folks come here to discuss credit scores, card offerings, etc.  While I try not to judge others, MS frankly makes me a bit 'queasy' from an ethical standpoint and I've never been interested myself.

 

That being said, what you are describing is spending, not manufactured spending.  As long as you use the GCs for their intended purpose, you will be fine ethically, fine with your issuer, and fine with the good folks on the forum.  Also, while spending $1k at a grocery store in a month is probably not 'standard', if it's a once-in-a-blue-moon thing Capital One is not likely to take note.  Further, the only way a card issuer can 'see' what you're purchasing is if the merchant has level-3 credit card processing, which is usually limited to government and large business merchants/vendors, since it's costly.  Your purchase at Kroger (or wherever) could be a basket of filet mignons as far as the card issuer is concerned.

 

Here's another completely legitimate idea that doesn't run afoul of the rules here or common sense... add money to your Amazon account.  The Amazon site refers to this as "adding money to your gift card", and basically it's the same as prepaying for merchandise you're going to buy in the future.  The only caveat I've found so far is that you can't use your own Amazon gift card to buy a GC for someone else, and you can't use it to buy any other type of GC online (which usually isn't an issue, anyway, at least with me.) 

 

Purchasing yourself a GC for your local grocery store works the same... it's just prepaying for stuff you intend to buy later.  I used to do this with Kroger, and use the GC outside at the pump so I could get the BCP 6% cash back off my gas as well (now I just use my Sam's Club MC, but the other way worked well). 

 

One thing I would recommend, that has nothing to do with what you're purchasing, is to split your purchases up a bit.  A single large charge at a grocery store might set off a fraud alert with Capital One, since it is a bit unusual to have a $1k purchase at one time.  Break it into three or four purchases and you'll be golden.  Smiley Wink

Message 17 of 84
Super Contributor

Re: Creative ways to meet bonus spending requirements


UncleB wrote:

masscredit wrote:

I'll have to see if I pay a fee to have my car insurance broken up over 12 months. I still have 6 months to go so that would be about $400 and possibly save me some money. I'll check to see if I can pay some utilities more than the balance. I'll be taking a trip sometime this year. Don't know when. That would easily eat up the difference. 

 

These are the creative suggestions that I was looking for when I posted this thread. I still have 2 1/2 months so I might be fine but others can benefit from them.


You have a plan, and it will work just fine.  Enjoy your sign up bonus.

 

Folks here are conditioned to be on the look out for MS since it's thought to be unethical by many folks, and is beyond the purpose of this forum.  There are lots of other forums for that; folks come here to discuss credit scores, card offerings, etc.  While I try not to judge others, MS frankly makes me a bit 'queasy' from an ethical standpoint and I've never been interested myself.

 

 


It's really that the TOS here forbid advocating MS and that is really  all that matters.    Ethics is a whole other matter!     Contrast:

 

1) To meet minimum spend, I buy 2 $500 Visa Gift cards, and, since I need the money, load them to XXXX and get the money back.

2) To meet minimum spend, I ask my friends and family to let me purchase things they need on my card, and they give me the money

 

In both cases, the card issuer is paying out for rewards that don't reflect "real" spend by the card holder.   One is OK here, the other not.   Ethics?  Nah.

Message 18 of 84
Moderator

Re: Creative ways to meet bonus spending requirements


longtimelurker wrote:

UncleB wrote:

masscredit wrote:

I'll have to see if I pay a fee to have my car insurance broken up over 12 months. I still have 6 months to go so that would be about $400 and possibly save me some money. I'll check to see if I can pay some utilities more than the balance. I'll be taking a trip sometime this year. Don't know when. That would easily eat up the difference. 

 

These are the creative suggestions that I was looking for when I posted this thread. I still have 2 1/2 months so I might be fine but others can benefit from them.


You have a plan, and it will work just fine.  Enjoy your sign up bonus.

 

Folks here are conditioned to be on the look out for MS since it's thought to be unethical by many folks, and is beyond the purpose of this forum.  There are lots of other forums for that; folks come here to discuss credit scores, card offerings, etc.  While I try not to judge others, MS frankly makes me a bit 'queasy' from an ethical standpoint and I've never been interested myself.

 

 


It's really that the TOS here forbid advocating MS and that is really  all that matters.    Ethics is a whole other matter!     Contrast:

 

1) To meet minimum spend, I buy 2 $500 Visa Gift cards, and, since I need the money, load them to XXXX and get the money back.

2) To meet minimum spend, I ask my friends and family to let me purchase things they need on my card, and they give me the money

 

In both cases, the card issuer is paying out for rewards that don't reflect "real" spend by the card holder.   One is OK here, the other not.   Ethics?  Nah.


I agree - that's why it's against the TOS to discuss it here to begin with... the folks that so kindly sponsor us here want the focus of the forum to be on FICO and credit related matters, thus the TOS.  I only felt compelled to bring up the term to clarify that what the OP describes is not MS, not to encourage the discussion of it.  I actually asked a moderator about this specifically a while back, and got a really good explanation.

 

Ethics are always a 'hot potato' topic; what one person considers to be perfectly fine can be 'taboo' for someone else... and that's OK.  The same can be said for politics, another subject that's best for other places (also prohibited by the TOS, and for good reason).

 

It's also why we're discouraged from discussing it.  Smiley Wink

 

Note:  I'm not saying I disagree with you, I'm just moving the thread along to keep us all in 'good graces'...  Smiley Happy

Message 19 of 84
Moderator

Re: Creative ways to meet bonus spending requirements

On a simpler note... masscredit, how long did it take you to get your cards? 

 

Some folks are reporting that the Venture is taking longer than other cards to arrive.  Smiley Frustrated

Message 20 of 84