Few things in life entice me more than a big welcome bonus on a rewards credit card.
There are many great bonuses vying for my attention right now, and despite maintaining a healthy credit score, it isn't sensible for me to apply for all of them.
Writing about credit cards and points and miles on a daily basis, I always have my eye on the best offers available, especially when new products enter the market. When these cards increase their welcome offers for a limited time only, I'm even more tempted to apply.
However, one thing that gives me pause is ensuring I can meet the minimum spending to earn these welcome bonuses; otherwise, I might miss out but still be paying an annual fee.
That's why I've developed a strategy of timing my credit card applications around the big, unavoidable annual bills in my life to ensure I can hit the spending required to enjoy those rewards.
Here's how this strategy works for me, some pitfalls to be aware of and the elevated welcome bonuses I have my eye on right now.
Related: 5 things to check before applying for your next credit card
The upside of my unavoidable big annual bills
Hitting a minimum spending requirement, especially in the $6,000 to $10,000 range, can feel daunting if you only focus on daily expenses, considering you might not use your card every day.
However, a single large bill can knock out most (or all) of that target instantly.
I'm a homeowner in Australia and know I will receive the renewal invoice for my building and contents insurance each year in February, due in March. Though I never enjoy the thought of having to fork over several thousand dollars every year for this, I do know it must be paid, and it can meet a decent chunk of the minimum spending requirement for a credit card welcome bonus.
