Credit card sign-up bonuses are promotional offers by credit card issuers to attract new customers. These bonuses typically come in the form of points, miles, or cash back, which can be earned by meeting a specified spending requirement within a certain period after account opening.
Here are some common aspects of credit card sign-up bonuses:
1. Spending Requirement:
To earn the bonus, you must spend a certain amount, usually within the first 90 days of opening the account.
2. Types of Bonuses:
• Points: Earn points that can be redeemed for travel, gift cards, or merchandise.
• Miles: Earn miles that can be used for airline tickets or other travel-related expenses.
• Cash Back: Earn a Statement Credit or direct deposit into your bank account.
3. Value:
The value of sign-up bonuses can vary significantly, with some cards offering hundreds of dollars worth of rewards.
4. Annual Fees:
Some cards with lucrative bonuses may have annual fees, which can sometimes be waived for the first year.
5. Eligibility:
Issuers may have restrictions on who can qualify for the bonus, such as not having held the same card within a certain period.