There are plenty of credit cards out there with amazing perks and benefits that don't require you to spend a lot. We give you a list of our top 4 to let you get the most bang for your buck.
Some of the best credit cards offer massive sign-up bonuses, but they typically require that you spend thousands of dollars in just a few months to qualify. For small spenders or folks who don't like to use credit often, that can be a major hurdle.
The good news is that there are a handful of credit cards out there that offer impressive benefits without requiring you to be a big spender.
Top four credit cards with the lowest minimum spend
Minimum spend is a term credit card issuers use to determine how much you have to spend before you qualify for a card's sign-up bonus. Typically, the higher the sign-up bonus, the higher the minimum spend. But these cards have low minimum spend requirements and solid enough benefits that it's still worth it to sign-up.
Discover it Cashback Match
The Discover it Cashback Match card has a unique approach to its sign-up bonus. Instead of handing you a large bonus after you meet a minimum spend requirement, the card simply matches all the cash back you earn during your first year. As a result, there's no minimum spend at all.
The card offers 5 percent cash back on categories that rotate every quarter - historically, these have included gas stations, restaurants, groceries, and holiday shopping - up to $1,500 spent per quarter. You'll get one percent cash back on everything else. (You do need to sign up each quarter to activate the awards).
So, let's say you spend $200 a month on the cards five percent bonus categories and $600 per month on everything else. You'd earn $192 during the first year from these purchases, and when your first card anniversary hits, Discover will automatically deposit another $192 into your rewards account.
The card also has no annual fee, no foreign transaction fees and a 0 percent APR promotion for 14 months on both purchases and balance transfers. After the introduction period the regular purchase rate of between 13.24% - 24.24% Variable will apply.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card offers a $150 cash bonus after you spend a mere $500 within three months of opening the account - just $167 per month. That's not quite as impressive as a $500 bonus, but it's low-hanging fruit for people who don't spend a lot.
Going forward, you'll earn 1.5 percent cashback on every purchase you make with no limits. So if you don't like the idea of memorizing bonus categories, this is a good option.
The card also has no annual fee, no foreign transaction fees and offers 50 percent off a Spotify Premium membership through April 2018. And if you need it, you'll also get a 0 percent APR promotion on purchases and balance transfers for nine months, after that regular APR of between 14.24% - 24.4% (Variable) will apply.
Discover it Miles
If you like the Discover it Cashback Match card's approach to a sign-up bonus but don't want the bonus categories, the Discover it Miles is a great alternative. Discover matches all the miles you earn during your first year.
The card is a general travel card, so you have flexibility when using your rewards. You'll also get a $30 annual credit for in-flight internet purchases. That's a feature you won't find any other no-annual-fee card.
Finally, the card also has no foreign transaction fees and a 0 percent APR promotion on purchases for 14 months, after that regular APR of between 13.24% - 24.24% Variable will apply.
The only drawback to the card is that Discover isn't widely accepted overseas. So, it's not a good travel companion unless you stick to domestic travel.
JetBlue Plus Card
Airline credit cards often have high minimum spend requirements, so the JetBlue Plus Card is refreshing. You'll earn 30,000 bonus points after you spend $1,000 in the first 90 days.
Sources show that TrueBlue points are worth between 1.3 cents and 1.4 cents a piece, so that makes your sign-up bonus worth between $390 and $420. Not a bad haul for spending an average of $333 per month for three months.
The card offers six points per dollar spent on JetBlue purchases, two points per dollar at restaurants and grocery stores and one point per dollar on everything else. Here are some other perks you'll get:
-One free checked bag every time you fly
-No blackout dates or award restrictions
-A 5,000-point anniversary bonus each year
-A 50 percent discount on eligible inflight purchases
-Get 10 percent of your points back every time you redeem
-Get a $100 statement credit when you purchase a Vacations package
-0 percent APR promotion on balance transfers for 12 months
The main drawback to this card is that it charges a $99 annual fee. It also doesn't waive the fee the first year, so get it only if you think the benefits are worth the fee.
What to consider before applying
All the credit cards we've listed have great minimum spend to benefits ratio, making them good choices for small and big spenders alike. Before you start applying, however, it's important to consider two things.
First, determine whether you qualify. All of these cards are targeted to people with good and excellent credit. So, if you're new to credit or trying to rebuild, it might not be worth applying only to get denied. Instead, work on improving your credit score first so that you have a better chance of getting approved.
Second, determine which card is best for you. Do this by considering your spending habits and personal preferences. For example, if you want ultimate flexibility, go with a cash-back card. If you want to maximize your rewards, go with a card that has bonus categories instead of a flat rate.
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