One of the awesome things about applying for credit cards is that there are often generous welcome bonuses, whereby you can earn significant rewards (either cash or points) by spending a certain amount of money on a card within a specified timeframe. This is an awesome opportunity to supercharge your points earning potential.
Continue reading: Tips For Credit Card Minimum Spending Requirements
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Very healthy, practical advice. Churning is still the highest ROI, even if the ‘good ole days’ are coming to an end (24-48 month, or once-per-lifetime, eligible rules, etc.) Hey, quick follow-up, why does Amex think 7 years a lifetime?
There is also a type-of-card/expected-usage element to the timing. I stay about 46 days at IHG properties from mid August until mid November and usually no other days each year. The IHG card is, for me, one I expect to use only during stays at IHG. So, it made sense to apply so that the bonus-spending time frame included the above stays. Certainly, I would have no trouble meeting the minimum spend in the requisite time frame if I signed up in December, but I'd be moving airline or non-IHG-hotel spend away from a card I get get more rewarded than IHG.
And, while I don't follow it closely, it seems those "best ever, about to expire" bonus offers often return.
I'd appreciate peoples' opinion here: One decision I always struggle with is whether to pay a 3% service fee or not. For example, I have a big ticket window replacement coming up. Just to make the math easy, I could spent $10,000 on my BILT card with a 3% service fee ($300). I would get 3x points with points boost, which puts me at 30,000 points. At an estimated $0.02/point, that's roughly the equivalent of $600 in return. So, is it worth spending $300 to (possibly) get $600?