Some of the top rewards cards out there offer minimum spending requirements that most people won’t meet easily. Some credit cards have a high minimum spending that can be around $5,000-$10,000 in 90 days. For the average person, these high spending goals are out of reach if the credit card is being used for everyday spending.
For some tips in reaching the minimum spending for credit cards, check out:
For those who are looking for a rewards card that offers a sign up bonus with a low minimum spending, there are some great options. Most of these options have zero annual fee which means it is basically free money.
I’m talking about cards that require you to spend $1,000 or less within 90 days, that is around $333 per month.
Keep in mind, its not worth pursuing rewards if you end up carrying a balance on your credit card and paying interest. The interest paid will negate the rewards earned. These habits might cause you to spiral into a lifestyle of debt and worry. Think of the credit card as a debit card and only spend the money you have.
To avoid falling for this common credit card trap, only pursue rewards if you’re able to use your card for regular bills and expenses and pay it in full every month.
Once you have mastered the skill of paying your balance off every month, you will be in a good position to earn all kinds of rewards for purchases you planned to make anyway. When used correctly, these rewards can help you Travel More and Spend Less.
Bank of America® Travel Rewards Credit Card
This card is a good one to keep around because of how easy it is to use. Redeeming rewards in the Bank of America portal is simple and intuitive. Great customer service too.
- Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don’t expire
- 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days — that can be a $200 statement credit toward travel purchases
- Use your card to book your trip how and where you want — you’re not limited to specific websites with blackout dates or restrictions
- Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
Wells Fargo Propel American Express® Card
The Wells Fargo card is a great card to have especially with the unlimited chances to earn cash back and no annual fees! Its the perfect card to use at gas stat
- Earn 20,000 bonus points after spending $1,000 in the first 3 months
- Earn 3X points at U.S. gas stations, 2X points at U.S. restaurants, 1X point on other purchases
- Redeem points for travel, gift cards, cash redemption options or merchandise through Go Far® Rewards
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Propel American Express® Card
- Earn an annual relationship bonus of 10% on non-bonus rewards points if you maintain a qualifying Wells Fargo account
Chase Freedom Unlimited®
Earn 1 point per dollar spent on all purchases, plus 5 points per dollar on categories that rotate each quarter. Use your points for cash back, statement credits, or gift cards. And the best part is, this card never charges an annual fee.
- Unlimited 1.5% cash back on every purchase — it’s automatic
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- No minimum to redeem for cash back
- Cash Back rewards do not expire as long as your account is open
- No annual fee
IHG® Rewards Club Select Credit Card
This card is a great card to keep and pay the annual fee. The $49 annual fee gets you a free night at any category hotel. We used our free night at the Intercontinental in Johanasburg, South Africa. If we paid full price, the room would have cost us $300.
- Earn 60,000 bonus points after spending $1,000 on purchases within the first three months of account opening
- Enjoy a Free Night after each account anniversary year at over 5,000 hotels worldwide
- Earn 5 points per $1 spent when you stay at an IHG hotel
- Earn 2 points per $1 spent on purchases at gas stations, grocery stores, and restaurants
- IHG Rewards Club Bonus points are redeemable at hotels such as InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts and Holiday Inn®
- Platinum Elite status as long as you’re a Select credit cardmember
- Automatic 10% points rebate on redemptions
- $0 Introductory Annual Fee for the first year, then $49 a year
Capital One® VentureOne® Rewards Credit Card
Be careful when applying for any Capital One credit card. Although the sign up bonuses are decent, capital one hits your credit score hard. Each time you apply, Capital one does a hard pull from all three credit bureaus. A hard pull from one credit bureau results in a 3-5 point ding to your score. If hard pulled from all three credit bureaus, that is potentially 9-15 points off your score.
- Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
- Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
- Fly any airline, stay at any hotel, anytime
- Enjoy a low intro APR on purchases for 12 months; 12.99%-22.99% variable APR after that
- Travel when you want with no blackout dates
- No foreign transaction fees
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
Which low minimum spend card have you received?