Hitting a credit card bonus spending target might seem daunting if you aren't a big spender, but it's achievable with some planning and creativity.
Stumped for ideas? Scroll down for some alpha that will have you hitting your spending target sooner than you'd think.
Interested in another points boost? Check the latest credit card sign up bonuses here.
Coming up next
- Key takeaways
- Use your credit card for everyday spending
- Pay utility bills with your credit card
- Pay rent with your credit card
- Book a holiday in advance
- Bring forward a large purchase
- Use it for business expenses
- Flip products online
- Buy things for other people
- Buy gift cards
- Add an additional cardholder
- Pay your taxes
- Make a charitable donation
- Summary
Do not get into credit card debt just to hit a spending target.
Key takeaways
- With some planning and creativity, hitting a credit card bonus spending target is achievable.
- There are various ways to hit your spending target without breaking the bank.
- You can easily hit your target by taking advantage of existing spending habits.
- Remember to always pay off your credit card balance in full each month to avoid interest charges.
Use your credit card for everyday spending
Difficulty: Low | Contribution to target: Medium | Processing fee incurred: None | Risk: Low | Time required: Low
If you're already using your credit card for everyday purchases like groceries and fuel, you're on your way to hitting your spending target. Make sure you pay your balance in full each month to avoid interest charges.
Tip: Use a website like Kickback to claim cashback when you purchase online via their website.
Pay utility bills with your credit card
Difficulty: Low | Contribution to target: Medium | Processing fee incurred: None | Risk: Low | Time required: Low
Many utility companies and service providers offer the option to set up automatic payments with a credit card. This can help you rack up points quickly and hit that spending target faster.
Tip: If your current supplier does not accept credit cards, switch to one that does. You might even get a cash welcome bonus for starting a new contract.
Pay rent with your credit card
Difficulty: Low | Contribution to target: High | Processing fee incurred: Yes | Risk: Low | Time required: Low
You might need to use a payment platform if your landlord does not accept credit card payments. More about that here.
Book a holiday in advance
Difficulty: Low | Contribution to target: High | Processing fee incurred: None | Risk: Low | Time required: Low
Just make sure to budget accordingly and pay off your balance in full when the bill arrives.
Tip: Timed well, you might be able to snag a sale and do yourself a favour simultaneously.
Bring forward a large purchase
Difficulty: Low | Contribution to target: High | Processing fee incurred: None | Risk: Low | Time required: Low
If you're planning to make a big purchase, like a new appliance or furniture, consider using your credit card to make the purchase. This can bring you much closer to your spending target.
Tip: You could buy the item for someone you trust who can pay you back.
Use it for business expenses
Difficulty: Low | Contribution to target: Medium | Processing fee incurred: None | Risk: Low | Time required: Low
If you own a small business or are self-employed, you likely have a variety of expenses that can be charged to your credit card. Although highly unlikely, the company you work for may allow you to put the costs on your card and then claim the expense back.
Flip products online
Difficulty: Low | Contribution to target: High | Processing fee incurred: None | Risk: High | Time required: High
This method involves buying items at a lower price and reselling them for a profit on online marketplaces such as eBay or Amazon. This can be a great way to hit your spending target while earning extra money. But it's not without risk. Flipping products that are not in demand can leave you with stock you can't get rid of.
Tip: You can list a product for sale on a marketplace that's on sale at a store, then deliver it directly to the buyer. This means you don't need to handle fulfilment.
Buy things for other people
Difficulty: Low | Contribution to target: Medium | Processing fee incurred: None | Risk: Low | Time required: Low
Struggling to run enough spending through by yourself? Can't use it for business expenses? How about offering to buy what your friends and family need (like groceries or larger one-off purchases)? You get closer to the spending target and the points, and they pay you back.
Tip: Only offer this to someone you trust and ideally can pay in advance.
Buy gift cards
Difficulty: Low | Contribution to target: Low | Processing fee incurred: None | Risk: Low | Time required: Low
Another way to bring future spending forward. The problem is you probably won't be able to spend much on a single gift card. Avoid the temptation to buy gift cards just for the sake of it.
Tip: You don't have to use them for yourself. Buy in advance for birthdays, anniversaries, etc.
Add an additional cardholder
Difficulty: Low | Contribution to target: High | Processing fee incurred: None | Risk: Low | Time required: Low
You can also arrange for someone to be an additional cardholder. When they use their card, it will contribute toward the overall target. For example, if your partner spends more than you, having them as an additional cardholder can speed up your progress towards hitting the target.
Tip: Be careful about who to add as an additional cardholder. If your card's credit limit is exceeded, it will impact you and not them.
Pay your taxes
Difficulty: Low | Contribution to target: High | Processing fee incurred: Possibly | Risk: Low | Time required: Low
Got personal tax to pay? You can use your credit card to do it. But before making the payment, check that payments to the ATO are eligible. You can use a payment platform to pay the ATO if they aren't. While they charge a fee, it will mean the transaction is classed as a standard purchase that earns points at the full rate.
Tip: The same applies to paying one-off taxes like stamp duty or CTP.
Make a charitable donation
Difficulty: Low | Contribution to target: Medium | Processing fee incurred: None | Risk: Low | Time required: Low
It couldn't be much more straightforward. Find a charitable cause you believe in and use your card to donate.
Summary
| Strategy | Difficulty | Contribution | Processing fee | Risk | Time incurred |
|---|---|---|---|---|---|
| Use your credit card for everyday spending | Low | Medium | None | Low | Low |
| Pay utility bills with your credit card | Low | Medium | None | Low | Low |
| Pay rent with your credit card | Low | High | Yes | Low | Low |
| Book a holiday in advance | Low | High | None | Low | Low |
| Bring forward a large purchase | Low | Medium | None | Low | Low |
| Use it for business expenses | Low | Medium | None | Low | Low |
| Flip products online | Low | High | None | High | High |
| Buy things for other people | Low | Medium | None | Low | Low |
| Buy gift cards | Low | Low | None | Low | Low |
| Add an additional cardholder | Low | High | None | Low | Low |
| Pay your taxes | Low | High | Possibly | Low | Low |
| Make a charitable donation | Low | Medium | None | Low | Low |
