In recent years, credit card companies have offered increasingly generous welcome bonuses in order to tempt customers into opening an account. Savvy cardholders may even open accounts specifically to take advantage of the welcome bonus and related limited-time offers. The Blue Cash Everyday® Card from American Express is no exception, with the chance to earn a $200 statement credit after spending $2,000 in purchases within the first six months of card ownership.

In this article, we’ll cover the details of this welcome bonus, how to earn it and what to consider when opening an account.

Who’s eligible for the Amex Blue Cash Everyday welcome bonus?

Only new cardholders are eligible for the Amex Blue Cash Everyday welcome offer. In order to qualify, cardholders must spend at least $2,000 in the first six months after opening an account — or around $333 per month for six months.

In order to be eligible for the $200 statement credit, you must have an account in good standing that’s not past due or canceled.

How to earn the Amex Blue Cash Everyday welcome bonus

It’s simple: Open up an account for this card, then spend $2,000 on purchases in the first six months. Still, we recommend spending responsibly and only making necessary purchases using this card. Here are a few ways new cardholders can spend enough to qualify for the welcome bonus:

Use the card everywhere

Do you use a debit card for your grocery shopping, gas or paying bills? Consider paying as many expenses with your new credit card as possible. Not only will this help you reach the minimum spending threshold for the welcome bonus faster, but it will also allow you to earn cash back rewards on qualifying purchases. Of course, you’ll also want to take advantage of bonus categories offered by the card: 3 percent cash back at U.S. supermarkets, U.S. gas stations and U.S. online retail purchases (on up to $6,000 per calendar year in purchases in each category, then 1 percent).

Pay insurance policies in advance

Many insurers allow you to pay for insurance policies ahead of time. Since these are expenses that you’ll eventually have to pay for anyway, using your new American Express credit card to pay for insurance in advance is a simple, responsible way to qualify for the welcome bonus. It’s a good idea to get in touch with your insurers to see which policies you can prepay for. In some cases, you may even be able to score a discount for paying upfront.

Pay your taxes

Whether you’re self-employed or just earned more than anticipated this year, an unexpected bill at tax time can throw your budget a curveball. There’s no avoiding the IRS, but by using your Amex Blue Cash Everyday card to pay your tax bill, you can kill two birds with one stone.

Since the card comes with a 15-month 0 percent intro APR on purchases (18.49 percent to 29.49 percent variable APR after), it’s also a great way to pay off your tax bill over time without accumulating interest. Just keep in mind that the IRS typically charges a small fee to pay a tax bill using a credit card, so be sure the math works out in your favor.

Pay your rent

Many people pay their rent via check or bank transfer, but in some cases, you may be able to pay rent using a credit card. Check with your landlord to see if they accept credit cards as a payment method, and whether they charge any fees for paying with a card. Since housing is often one of the largest categories in an individual’s budget, using the Amex Blue Cash Everyday to pay rent is a simple way to qualify for the welcome bonus as fast as possible.

Make a big purchase

Have a large purchase you’ve been waiting to pull the trigger on? Now’s the perfect time to use your Amex Blue Cash Everyday card to finance it. Whether you’re planning on completing a home improvement project, going on vacation, purchasing a gift for someone special or just treating yourself, planned big purchases are a great way to qualify for the bonus.

Things to keep in mind while chasing a welcome bonus

An extra couple hundred dollars is nothing to sneeze at, but there are a few things to keep in mind when meeting the requirements for this card’s welcome bonus. First and foremost, you shouldn’t overspend just to qualify. If you end up spending $2,000 and didn’t really need to, you’ll still be $1,800 in debt after receiving the bonus. Instead, spend wisely and only make purchases that are necessary or fit into your budget.

While many rewards credit cards have a period of only three or four months during which cardholders can qualify for the welcome bonus, the Amex Blue Cash Everyday has a period of six months.

The bottom line

Aside from a generous cash back rewards structure and other card benefits (like no annual fee and payment flexibility), the welcome bonus is one of the main draws of the Amex Blue Cash Everyday. The minimum spending requirement isn’t cheap, but there are plenty of strategies you can use to surpass that threshold.