Every day we get lots of promotional letters in our mailbox. They are typically credit cards from different banks, financial institutions enticing us to sign-up for one. There are few offers that are really worth it.
These offers demand spending certain amount of money within stipulated time period to enjoy the benefits of rewards in the form of statement credits, travel reward points etc. Icing on cake happens to be that this income is 100% tax free. If you would have carefully observed any statement credit that you would have made is typically adjusted towards existing balances, future purchases etc.
In this post lets see what are all the ways and means to meet the spending requirements if that does exceed your regular spending limits. Lets take example of chase card that demands $4000 to be spent within 3 months from the date of registration. The rewards offered is definitely an enticing option that can't be overlooked.
In a normal family of two, three, four $4000 within 3 months is bit extravagant spending. This does not take into account all of your spending. We should note that only credit card spending is considered towards this. When it comes to single the chances of spending this is even reduced. Lets see what are all the tricks we can apply to take best advantage of such offers
1) Joint Spending - If your family members, relatives, friends haven't received this offer owing to their bad credit score, you can choose to spend with them in joint fashion. In return you can offer to extend portion of rewards for using your credit card. No one will say no to FREE money
2) Utility bills - Electricity bill, cable bill, natural gas bill, water tax are all can be consolidated to be paid from this credit card for next 3 months
3) Home maintenance bills - Garbage disposal (if this is not paid by your county), snow removal, lawn maintenance, exterminator and such bills can be paid using credit cards. A trick is to pay the home maintenenace personnel well in advance using credit card for an upcoming later schedule. This depends on your rapport with your handyman
4) Grocery bills - Instead of paying grocery bills using cash use credit cards to pay grocery bills
5) Laundry - Instead of using coin operated laundry, go for laundry that does operate using pre-paid cards. This helps you spend your money at the same time earn rewards
6) Support vacation of others - This is an extended help with free coupon for your friends and family members to book their tickets, hotel, rental cars, spend their vacation expenses using your credit card. Offer them portion of sign-on bonus. Make sure they take of the bills :)
7) Pay rent using credit card - If you live in an apartment complex, owner tenant leasing option etc try to pay bill using credit card instead of cheque, ACH transfer. Most rental payment services charge as low as 3% to 3.5%. You will have to do it for 3 months maximum but the sign-on bonus you earn is much bigger. In some expensive rental areas this could be less than two months worth of rent
8) Pay mortgage using credit card - This is same as rental payment. Mortgage again can be paid using credit card with little fees for one or two months
9) Pay insurance premium using credit card - Auto insurance, home insurance, mortgage insurance, health insurance, flood insurance, pet insurance and what not? All these can be paid using credit card
10) Buy gift cards in bulk - If you plan on gifting your family and friends after few months, you can make that purchase now and make sure the gift card is valid for more days. This future expense can be done now and you can meet your spending requirement
11) Gas purchase using credit card - If you are using cash as the cashback rewards are not a great option, for 3 months try using credit card to meet minimum spend
12) Car expenses - This starts with auto insurance, car maintenance, car repair, car tire change,car upgrades etc. All can be done within 3 months to meet the threshold. Car inspection is a mandate when you live in states like CT. Pay the bill using credit card. You can choose to pay early on to take advantage of the offer
13) Pay taxes early - State taxes can be paid early. If you think your bill is going to be more pay the amount using credit card well in advance. There is a credit card charge. Make manipulation to see if it is economical to make tax payment using credit card
14) Pay your tax advisor well in advance - Most tax advisors accept cash and bank cheque payment. Chosen few accept credit card payments. You can pay well in advance for upcoming tax season
These offers demand spending certain amount of money within stipulated time period to enjoy the benefits of rewards in the form of statement credits, travel reward points etc. Icing on cake happens to be that this income is 100% tax free. If you would have carefully observed any statement credit that you would have made is typically adjusted towards existing balances, future purchases etc.
In this post lets see what are all the ways and means to meet the spending requirements if that does exceed your regular spending limits. Lets take example of chase card that demands $4000 to be spent within 3 months from the date of registration. The rewards offered is definitely an enticing option that can't be overlooked.
In a normal family of two, three, four $4000 within 3 months is bit extravagant spending. This does not take into account all of your spending. We should note that only credit card spending is considered towards this. When it comes to single the chances of spending this is even reduced. Lets see what are all the tricks we can apply to take best advantage of such offers
1) Joint Spending - If your family members, relatives, friends haven't received this offer owing to their bad credit score, you can choose to spend with them in joint fashion. In return you can offer to extend portion of rewards for using your credit card. No one will say no to FREE money
2) Utility bills - Electricity bill, cable bill, natural gas bill, water tax are all can be consolidated to be paid from this credit card for next 3 months
3) Home maintenance bills - Garbage disposal (if this is not paid by your county), snow removal, lawn maintenance, exterminator and such bills can be paid using credit cards. A trick is to pay the home maintenenace personnel well in advance using credit card for an upcoming later schedule. This depends on your rapport with your handyman
4) Grocery bills - Instead of paying grocery bills using cash use credit cards to pay grocery bills
5) Laundry - Instead of using coin operated laundry, go for laundry that does operate using pre-paid cards. This helps you spend your money at the same time earn rewards
6) Support vacation of others - This is an extended help with free coupon for your friends and family members to book their tickets, hotel, rental cars, spend their vacation expenses using your credit card. Offer them portion of sign-on bonus. Make sure they take of the bills :)
7) Pay rent using credit card - If you live in an apartment complex, owner tenant leasing option etc try to pay bill using credit card instead of cheque, ACH transfer. Most rental payment services charge as low as 3% to 3.5%. You will have to do it for 3 months maximum but the sign-on bonus you earn is much bigger. In some expensive rental areas this could be less than two months worth of rent
8) Pay mortgage using credit card - This is same as rental payment. Mortgage again can be paid using credit card with little fees for one or two months
9) Pay insurance premium using credit card - Auto insurance, home insurance, mortgage insurance, health insurance, flood insurance, pet insurance and what not? All these can be paid using credit card
10) Buy gift cards in bulk - If you plan on gifting your family and friends after few months, you can make that purchase now and make sure the gift card is valid for more days. This future expense can be done now and you can meet your spending requirement
11) Gas purchase using credit card - If you are using cash as the cashback rewards are not a great option, for 3 months try using credit card to meet minimum spend
12) Car expenses - This starts with auto insurance, car maintenance, car repair, car tire change,car upgrades etc. All can be done within 3 months to meet the threshold. Car inspection is a mandate when you live in states like CT. Pay the bill using credit card. You can choose to pay early on to take advantage of the offer
13) Pay taxes early - State taxes can be paid early. If you think your bill is going to be more pay the amount using credit card well in advance. There is a credit card charge. Make manipulation to see if it is economical to make tax payment using credit card
14) Pay your tax advisor well in advance - Most tax advisors accept cash and bank cheque payment. Chosen few accept credit card payments. You can pay well in advance for upcoming tax season
