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Do promo credits impinge on required net spending?

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Anonymous
Not applicable

Do promo credits impinge on required net spending?

To get the initial bucket of bonus points, most rewards cards require an initial level of "net" spending of $x in y days. I understand that if you buy something in that period and then return it, you will of course have to spend a sufficient additional amount to counter what you returned so that you still meet the minimum spend. My question is with cards that also provide statement credits as part of the deal. Do you have to outspend those as well?

 

In June I applied for the USBank Altitude card, similar to the CSR. High annual fee, 50,000 points if you spend $4,500 in first 90 days, statement credit for first $325 in travel spending, $100 credit for Global Entry. I took advantage of the travel credit and the Global Entry benefit, so I spent $325 in travel and $100 on Global Entry, but then got them credited.

 

My question is, did those credits wipe out that $425 in purchases for purposes of determining net purchases? Do I need to spend an additional $425 (for a total of $4,925) to hit the minimum $4,500 spend to qualify for the opening salvo of 50k points?

 

Chris.

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Do promo credits impinge on required net spending?

Generally, the statement credit is considered a payment rather than a credit i.e., un-purchase. Confirm with the bank though!

Message 2 of 4
Anonymous
Not applicable

Re: Do promo credits impinge on required net spending?


@Anonymous wrote:

To get the initial bucket of bonus points, most rewards cards require an initial level of "net" spending of $x in y days. I understand that if you buy something in that period and then return it, you will of course have to spend a sufficient additional amount to counter what you returned so that you still meet the minimum spend. My question is with cards that also provide statement credits as part of the deal. Do you have to outspend those as well?

 

In June I applied for the USBank Altitude card, similar to the CSR. High annual fee, 50,000 points if you spend $4,500 in first 90 days, statement credit for first $325 in travel spending, $100 credit for Global Entry. I took advantage of the travel credit and the Global Entry benefit, so I spent $325 in travel and $100 on Global Entry, but then got them credited.

 

My question is, did those credits wipe out that $425 in purchases for purposes of determining net purchases? Do I need to spend an additional $425 (for a total of $4,925) to hit the minimum $4,500 spend to qualify for the opening salvo of 50k points?

 

Chris.


No, those credits do not wipe out the $425 in purchases.  

Message 3 of 4
HeavenOhio
Senior Contributor

Re: Do promo credits impinge on required net spending?


@Anonymous wrote:

Generally, the statement credit is considered a payment rather than a credit i.e., un-purchase. Confirm with the bank though!


It's not really a payment either as it wouldn't replace paying the minimum or the statement balance.

Message 4 of 4
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