NISHEL Travel Toiletry Bag for women, Portable Hanging Organizer for Full-Sized Shampoo, Conditioner, Brushes Set, Makeup Accessories, Large Size, Pink
$16.99 (as of November 23, 2024 15:27 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)This article provides valuable information about what expenses do not count towards the minimum spend requirement when opening a new rewards credit card. While it is common to have a minimum spend threshold in order to receive a sign-up bonus, not all expenses contribute towards reaching that goal. This article highlights several important points, such as annual fees, interest charges, bank fees, cash advances, and returned purchases, which do not count towards the minimum spend requirement. By understanding these exclusions, individuals can strategically plan their spending and ensure they meet the requirements to maximize their rewards. It is crucial to carefully review the specific rules of each bank to avoid missing out on a significant sign-up bonus due to a small oversight. When you open a new rewards credit card, chances are you are going to have a minimum spend (a certain amount of money you need to spend within a few months to get your sign-up bonus). For example, the bonus could be something like 100,000 airline miles after you spend $3,000 within the first 3 months of account opening.
While every bank has their own rules in terms of what counts as a purchase for the purpose of meeting minimum spend on a new card, these are generally consistent throughout. However, it is very important to understand what counts and what does not count towards minimum spend – as sometimes only a couple of dollars could stand in the way of you not receiving your sign-up bonus.
Annual Fees Do Not Count Towards Minimum Spend
If your credit card comes with an annual fee, this fee never counts towards minimum spend on the card. Never. Even if the annual fee is massive (like $695), it still does not count. It will never count and be sure to not include it when you are adding up how much more you need to spend to get your bonus.
Interest Charges & Bank Fees Do Not Count
Any fees charged by the bank such as balance transfer fees, interest charges, account maintenance fees, or any other account or bank related fees never count towards meeting minimum spend. This is even the case if you do not initiate the charge of these fees yourself.
Cash Advances Do Not Count
While you should NEVER use a credit card for a cash advance (getting money out from an ATM, for example), if you do, that will not count towards min spend. And the fees that you are charged for this cash advance will not count either. Don’t ever get cash out from a credit card – terrible decision!
Returned Purchases Do Not Count
If you return a purchase, you can expect that the original transaction for the purchase will not count towards minimum spend as the bank will obviously see a credit for that purchase when you return it. Remember to carefully check if you’ve returned any purchases when you add up how close you are to minimum spend as sometimes people do forget that they’ve returned something.
If you return something partially, then generally the part of the purchase that is not returned should still count towards minimum spend. For example, if you purchase something for $100 and then return a part of that purchase and get $50 back, the other $50 that you haven’t returned should still count – but be sure to check your bank’s details.
Gift Cards & Cash-Equivalents Do Not Count
If you purchase a gift card or any other cash-equivalent (money order, etc.), these do not count towards minimum spend as they are treated as “cash” purchases. Furthermore, if you buy something like a voucher for a restaurant, for example, this probably won’t count either because it is considered cash-like.
All Other Purchases Generally Do Count Towards Minimum Spend
Most other purchases will count towards minimum spend – your groceries, airline tickets, car rentals, gas, hotel stays, etc. – all of those do count towards minimum spend. Basically, anything fee-related or cash-related will not count and most other things will count.
It is important to note that every bank has their own rules in terms of what counts for minimum spend and what does not, so be sure to check their rules when you sign-up for a credit card. For example, if you make rent payments with your credit card, some banks may not count this for the purpose of minimum spend and other banks might.
Lastly, always remember to check a few times if you have truly completed the spend for your sign-up bonus. Do not rely on a bank tracker/progress based on your purchases and what you’ve spent on your account – always manually add up the totals and be sure to not include any fees or returns. You do not want to miss out on a huge sign-up bonus only because you are a few dollars short – it happens more often that you think.
Source: The post “What Doesn’t Count Towards Minimum Spend?” appeared on “Travel Miles 101”.
