There are several factors that you should consider when evaluating a sign-up bonus for a credit card. These include the sign-up bonus itself, the terms of the promotion, and the exclusions from earning the sign-up bonus. You should choose the credit card with the highest sign-up bonus so that you can maximize your rewards and avoid being charged for the extras. Read on for tips and tricks to maximize your sign-up bonus.
Sign-up bonuses
The best way to get more sign-up bonuses from Chase Sapphire Preferred card is to open new accounts. However, these bonuses come with certain requirements. For example, you must have excellent credit to qualify for the higher sign-up bonuses. This means that you must be able to make large purchases on your card within the first three months. Here are a few strategies you can use to maximize the value of your sign-up bonuses.
Make sure you read the terms and conditions of the credit card you’re interested in. Some credit card issuers don’t let you earn sign-up bonuses if you have already opened a different card. However, you can still use your new card to make purchases that would have otherwise been difficult or impossible. In addition, be sure to keep your credit score in check. Many companies are willing to extend sign-up bonuses to those with poor credit.
Tiered sign-up bonuses
If you want to receive a sign-up bonus from a credit card issuer, be sure to check for new promotions on a regular basis. Some cards offer sign-up bonuses only during certain times of the year, so it’s vital to check the issuer’s website regularly. Other times, sign-up bonuses are tied to the number of purchases made on a given credit card, so it’s vital to apply at the right time.
Some credit cards have tiered sign-up bonuses, which means that you can get a large bonus after meeting a minimum spending threshold within the first three months of opening an account. However, if you’re not able to meet this minimum spending requirement, you can always apply for a lower-priced card that does not require an annual fee. In addition, some credit cards waive the annual fee the first year, making them a more attractive option.
Exclusions from earning a sign-up bonus
If you are a recent customer of a credit card, you may be wondering whether you can still qualify for a sign-up bonus. In most cases, you can, provided you spend at least $1,000 within the first three months of the account. However, most banks and card issuers do not award sign-up bonuses to customers who cancel within the first year of opening the account. The reason for this policy is to discourage churning – credit cardholders who cancel their accounts do not get any bonus points.
Another way to avoid being excluded from receiving a sign-up bonus is to change your credit card. Some credit card companies do not allow you to have two of the same cards. This means that you cannot receive the sign-up bonus from another credit card company. If you have more than one credit card with the same company, you will need to cancel your first one before applying for the second one. However, you can still receive the sign-up bonus for a card you’ve already opened, provided you do not close it within the first two years.
