Friday, January 13, 2017

How to spend the minimum to get the bonus


Over the holidays, a few people told me about big trips they would like to take summer 2018. I told them I would help them travel for free, but they said I don't spend a lot of money so I can't get the bonuses on credit cards like you do. And I don't want to spend extra money.
Right, I don't spend extra money. I just spend smarter.
Every few months, I call the secretary at the synagogue and change my credit card for my monthly membership bill. I told her she is helping me go to Europe for almost free, she is more than happy to help.
So I asked my friend, do you have an electric bill? Yes, she said. Okay, do you have a cable bill? Yes, she said. What about a cell phone bill? Oh, yes, I have one of those too. Right.
What if we put all of those payments on one credit card for 3 months? Would that equal $500 per month or $1500 dollars in 3 months? Probably pretty close.
How about your gym membership? car payment? groceries? Costco? medication?
Do you have a big expense coming up? How about your auto insurance, homeowners insurance or property taxes? You may be able to figure out how to put your rent or mortgage on the credit card too.
Just remember to always set your credit card to auto pay immediately after you receive it in the mail. And you have to pay it off each month.
Some people manufacture their spend to meet minimum spending requirements, but I don't. I just use a single credit card for all of my bills for a few months and then move on to the next one. And I make a note in my calendar about a month before the one year anniversary date so I can decide it's it worth keeping the card or cancelling it.
If I'm not focusing on a single card, then I fall back on my Starwood American Express card and my Visa Marriott Rewards Premier credit card. 

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