Credit Card Welcome Bonuses Are at an All-Time High
While many Americans are cutting discretionary spending , credit card companies have been stumbling lately by offering all-time welcome bonus rewards. If you are looking to buy a new card, now is a good time to get one.
Of the major credit cards, American Express and Chase have record deals in either cash back bonuses or bonus points. These lures are time-limited offers that can disappear without warning (for example, Chase Sapphire’s recent 80,000 welcome bonus is no longer available), so you may need to act quickly. Of course, it must be said that if you are already trying to pay off your credit card balance, you should not be chasing a reward.
Here’s a breakdown of what’s on offer, as well as how much the various bonuses “cost” according to The Points Guy :
American Express Gold Card
Amex offers a record 60,000 points if you spend $ 4,000 over six months, which the Points Guy says is worth $ 1,200.
USD 250 per year.
American Express Platinum Card
Amex offers 75,000 points (worth $ 1,500 according to the Points Guy) if you spend $ 5,000 on purchases within 6 months of registering your card. This offer includes very good 10x points for matching purchases.
ANNUAL FEE 550 $
Preferred American Express Blue Cash Card
You can earn $ 300 cashback by spending $ 3,000 in the first 6 months and your annual fee is not charged for the first year ($ 95 after that). Expires on December 10th.
ANNUAL FEE 0 $ IN THE FIRST YEAR
Capital One Venture Rewards Credit Card
Earn 100,000 bonus miles by spending $ 20,000 on purchases within the first 12 months of opening your account.
Annual fee of $ 95
Chase Freedom Flex
Earn a $ 200 cashback bonus after spending $ 500 in the first 3 months, plus 5% cashback on grocery purchases and 0% annual introductory rate for the first 15 months.
WITHOUT ANNUAL PAYMENT
Chase Sapphire Privilege Card
Earn 60,000 bonus points (which is $ 1,200 according to the Points Guy) when you spend $ 4,000 on purchases in the first 3 months of opening your account.
$ 95 per year.