Meeting Minimum Spend

Old Dec 26, 17, 6:10 pm
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Meeting Minimum Spend

Good Evening,

I am just curious if anyone has ever bought visa/amex/MC giftcards to just use them to pay off your credit card to meet minimum spend? Is it even legal?
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Old Dec 26, 17, 8:44 pm
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Without some intermediary step, you won't be able to pay off your credit card with a visa/amex/MC gift card. Check out the manufactured spending forum for some ideas. You should also be aware that buying cash equivalents, like visa gift cards, may not qualify as spend toward your minimum spend.
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Old Dec 27, 17, 6:42 pm
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Originally Posted by Epinz300 View Post
Good Evening,

I am just curious if anyone has ever bought visa/amex/MC giftcards to just use them to pay off your credit card to meet minimum spend? Is it even legal?
It's "legal" in the sense of their being no law against doing it, which is what 'legal" means.

However, it is against the rules of some credit cards (especially from Amex), and so you should be careful with it. Buying a Visa gift card at a grocery store along with actual grocery items on the same purchase is a lot safer than buying gift cards from an online place famous for selling gift cards (the latter results in a number of people not getting any signup bonus on Amex cards, because Amex knows the popular websites for buying gift cards online and disqualifies any purchases made there from counting toward minimum spend).

Meanwhile< doing part of your minimum spend with the groceries+gfit cards approach (but doing a good part of it with "normal" spend) is a lot safer than doing 100% of your minimum spend with gift cards.

So it depends much more how (and how much) you use gift cards this way, and also for which bank's signup bonuses, rather than there being any blanket answer which fits all circumstances and variations of this.

So of course lots of people have done it to different degrees, and while many may have had success, a number of other people have had disastrous failure. So it's no a yes or no thing, it's an "exactly how" thing, that you need to learn.
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Old Dec 27, 17, 11:09 pm
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I would just stick with regular spending to meet minimum spend...that is the safest route for you.
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Old Dec 28, 17, 9:02 am
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Originally Posted by pharmawalk View Post
I would just stick with regular spending to meet minimum spend...that is the safest route for you.
I don't think that a blanket statement as seen above is necessarily correct. We know nothing about the person's finances. If he normally puts $10k/mo on credit cards, putting an additional $5K month by MSing is probably not going to get noticed in any way. On the other hand, having a normal $200/mo cc bill balloon to $5200/mo will probably cause some issues.
It also will depend on credit line and financial information. Someone making $100K/yr is going to be less at risk than someone making $40K.

I essence, common sense is what is needed. If you have limited assets then keep your MSing in line with that.
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Old Dec 28, 17, 10:00 am
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Originally Posted by pharmawalk View Post
I would just stick with regular spending to meet minimum spend...that is the safest route for you.
Thatís good, conservative advice. If there's a nice bonus for meeting minimum spend, you don't want to chance risking losing that.

You can also do some pre-spend if you are going to have difficulty meeting the spend requirement. For example, usually it is possible to prepay phone bills, utility bills, etc. The overpayment will remain in your account as a credit that gets used over the next few months. Do you regularly shop at WalMart or Costco? You could purchase a Costco Cash Card now, then spend it later.
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Old Dec 29, 17, 12:05 pm
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Simple question (maybe):
If I need to achieve $X spend for a year on a credit card, does the year start on 1/1/18 for purchases, or does it start at the first billing cycle of the credit card for the new year? In other words, if my billing cycle for the cc begins on 1/5/18, do all previous charges from 1/1 until 1/4 append to the December 2017 billing cycle and therefore not count to the 2018 year?
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Old Dec 29, 17, 12:57 pm
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Originally Posted by radonc1 View Post
Simple question (maybe):
If I need to achieve $X spend for a year on a credit card, does the year start on 1/1/18 for purchases, or does it start at the first billing cycle of the credit card for the new year? In other words, if my billing cycle for the cc begins on 1/5/18, do all previous charges from 1/1 until 1/4 append to the December 2017 billing cycle and therefore not count to the 2018 year?
Different credit cards work differently. It's all in the terms and conditions. If you want more help than that you are going to have to say which card and which benefit.
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