Sign up bonus credit cards will continue to be the rage in 2018, as consumers take advantage of amazing incentives from banks and credit unions who are looking to “woo” new customers. One of the cool things is that with a sign up bonus that you can earn by fulfilling the minimum spending level in a limited time period that is usually the first 3 months of the account opening. Cards that offer one-time signup bonus usually also have a rewards program in place for you to earn a point for each dollar that you spend. Many people will dismiss signup bonus as a scam when they see this offer on a catalog sent to their mailbox. The signup bonus is not the scam and it is a real offer from the credit card company to make spending on the credit card worthwhile.
To make use of signup bonus offer, you should avoid spending more than the required spending level. Besides, you should also not be paying interest for your purchases so that you will reap maximum benefit from the signup bonus offer. This can be achieved by signing up for a credit card that offer zero percent intro APR on purchases. Another way to avoid paying interest fees is to pay down the balance at the end of each billing cycle. In this way, you owe nothing on the credit card balance that can be carried over to the next month and become subject to interest charges.
Most major credit cards in the market have signup bonus offers and they can be exchanged for all kinds of vouchers. Some cards allow you to exchange the signup bonus for travel vouchers. There are also rewards credit cards that allow you to redeem your signup bonus in the form of cash back, statement credit and gift card. For example, Chase Sapphire Preferred Card offers 50,000 bonus points for a minimum of $4,000 purchases in 3 months.
There are lots of credit cards with one-time bonus offers that do not charge annual fees or they have waived the annual fee for the first year. You should first perform the comparison on several rewards credit card so that you know which one can give you the most returns. To do research, you can just Google for best credit card signup bonus and you will see the blog post that lists the top credit cards with good signup bonus. You can also use the online credit card comparison search engine to compare the interest rates, rewards programs and signup bonus of various rewards credit cards.
To qualify, you usually need to have a good credit score that is above 690. Before you sign up, it is important that you make sure you have the money to pay back all your expenses at the end of the month. Otherwise, you could be trapped in a lot of credit card debt and destroy your credit score just for trying to take advantage of the signup bonus.