What Is a Signup Bonus?
What makes a great credit card? That answer will undoubtedly vary from person to person, but one thing everyone can agree on: free stuff is always good. A signup bonus puts money back in the cardholder’s pocket – which make them incredibly enticing and so hard to resist. These offers can significantly impact a card’s attractiveness and turn mediocre credit cards into must-haves.
In addition to waived annual fees, introductory APR and fee-less balance transfers, credit cards companies frequently offer signup bonuses as an incentive to apply. These upfront rewards are an excellent way to kick start the perks of owning a new credit card. Signup bonuses offer new cardholders huge rewards that could otherwise take thousands of dollars to earn. The average airline card signup bonus has a value ranging from $150 to $500 (determined by the structure of their rewards program). This not only provides instant value to the card but can go a long way towards offsetting annual fees and other costs required of cardholders.
Types of Credit Card Bonuses & How to Qualify
Credit card bonuses are as varied and diverse as credit cards themselves. They can come in the form of one-time deposits of airline miles, rewards points, and cash back or a limited period of doubled earnings or extra savings. Often, cardholders will have to meet a certain spending minimum during a set period of time(s) (most commonly 90 days, 6 months, or 1 year) in order to qualify for bonuses. These types of bonuses usually offer the most impressive bonus frequent flyer miles and are great for upgrading frequent flyer status or obtaining perks such as lounge access, and first-class travel. Other common ways to qualify for signup bonuses are by paying an annual fee, making a first purchase (no minimum amount) or by making purchases at a certain location/retailer.
The actual reward for opening a new credit card can vary within itself, as card issuers can alter and reconfigure these initial bonuses as they see fit. Most often, cards will offer their most generous bonus for the launch of a brand new card – but there are exceptions, so don’t think you can’t find an exceptional deal otherwise. One of the easiest ways to keep track of these changes is to visit the AirlineCards blog to check for updates and other credit card news.
Finding The Best Signup Bonus (For You)
Although signup bonuses allow cardholders to cash in on free rewards immediately, it’s essential to consider all facets of a credit card. A large signup bonus doesn’t equate a great card, just as a low signup bonus doesn’t mean a card isn’t worthwhile. Choosing a credit card solely for the signup bonus could saddle you to a hard-to-redeem rewards program or spending minimums that you can’t meet. As such, it’s essential to find a card that fits your lifestyle and offers rewards you in the ways that you want – just think of the signup bonus on the cherry on top. At AirlineCards, we know how important finding the right airline rewards credit card is – that’s why we provide impartial reviews of all the leading airline cards, including cards from fewer than 20,000 bonus miles to cards with more than 100,000 initial bonus miles.
100,000+ Miles/Points
80,000+ Miles/Points
60,000+ Miles/Points
40,000+ Miles/Points
20,000+ Miles/Points
Fewer Than 20,000 Miles/Points