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"Just a little bit more" is keep repeating on our head when trying to hit that minimum spend for welcome bonuses and to waive of annual fees.
The time frame provided to hit that minimum spend is typically very short. This is indeed the trick from credit card issuers to encourage users spend more money. For example, Citi Bank offers 52,000 Points to Citi Prestige cardholders after spending of 20,000 THB in 30 days.
Most of the time, we tried our best putting every single transaction on our cards, but to hit the amount of minimum spend is always so close yet so far.
Today, we are going to share some tips and tricks on how to hit minimum spend in an easier way.
1. Link the card with eWallet
The first thing you should do when receiving a new card is to link it with all the eWallet you have on your phone. TrueMoney wallet, LinePay, AliPay, you name it, just add it.
Merchants typically require a minimum spend in order to card, but not for e-wallet.
In 7-11, even a packet of cookie priced 5 THB could be paid by TrueMoney wallet.
This has significantly increase the amount we could spend on cards to hit that minimum spend.
2. Get the bill when go Dutch
Gatherings or lunches with friends and colleagues are what we normally have (or had before the pandemic of Covid-19)
Since everyone would have to pay for what they had had, why not make the life of the cashier easier? Simply put the expense on your card and collect the money individually right after.
It is an easy step to hit minimum spend*.
*If there is no one think the same as you.
3. Buying Gift Vouchers
Who said gift cards or gift vouchers are meant to be gift only?
we could purchase gift vouchers of supermarket or department stores that we will be shopping at anyway, in order to hit that minimum spend faster.
Always recheck the expiry date. Don't get em wasted.
4. Adding Player 2,3,4
This method is only recommendable for family members. Trustworthy family members, I meant.
Simply authorise any family members to use specific cards for any regular purchases.
Supplementary cards could also be issued to authorised personnels. The expenses they make will be counted as the primary user's expense.
5. Purchasing hotel points or airline miles
This is another way to hit minimum spend faster, but might not be the best way.
As we had learned that the points would be devalued from time to time.
It is only a great deal when there is a promotion and there is a plan for using the hotel points or airline miles very soon.
Take a quick example of Hilton Honors
One night at King Reef Villa with Pool in Waldorf Astoria Maldives Ithaafushi**.
**This is the search result for on 23rd April 2020 for the stay on 20-21 May 2020, from the Hilton Honors mobile App
The points required for one night is 120,000 points. While the Hilton Honors discounted rate is 1,872 USD (before taxes).
Currently, Hilton offers a promotion for buying points till 27th May.
600 USD nett for 120,000 Hilton Honors points. It is enough for one night at Maldives.
It is definitely a steal if you are planning to travel right now. Most probably not, but you get the idea.
These are just some tricks to utilise the spendings that we would have already made. Always keep in mind, do not fall into the traps credit card issuers set. To make us spend more than our regular spendings, just to earn that extra points or cash back.
Spend as how you would normally spend and get the most out of it.
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