Credit card companies offer sign up bonus deals because of the high level of competition in the industry. Almost every credit card company is offering a sign up bonus and reward program nowadays. Each is trying to offer a sign up bonus with the best benefits for consumers.
Lots of people misunderstood that these sign up bonus deals are only used by credit card company to make money instead of giving you gains. It is true that there is a catch in redeeming the rewards that are offered with these sign up bonuses. Some rewards are only redeemable for certain brands and there are also rewards that can give you discount on your travel and dining expenses.
There are still a lot of credit card companies that offer good sign up bonus in the industry. If you want to find a profitable sign up bonus deal, it is important to perform comparison between different offers. The best way to perform comparison on sign up bonus deal is to visit the credit card bonus offer deals review sites. These sites already lay out the credit cards with the best sign up offer deals along with other information such as the type of sign up bonus, how you can redeem the bonus, annual fee and etc.
Most credit card companies only offer you the sign up bonus when you reach the minimum spending level within the limited time frame. There are a few companies that award you the bonus on your first purchase or immediately after you sign up for the card. You also have to take into account the annual fee and calculate whether it is greater than the amount of rewards you estimate you can earn. There may be other requirements so you should check with the credit card company prior to signing up.
It only takes a few steps to get the sign up bonus as you only spend about 10 minutes to enter your information into the online application form. If you have auto fill in your browser, it will only take 2 minutes to fill in and double check the information and submit the application form. Once your application is approved, you must activate the card online or on the telephone. It takes about 2 – 7 minutes to activate the card. Finally, you must set up the card for automatic online payment which takes about 10 minutes. So, it only take 30 minutes to redeem the sign up bonus.
In conclusion, sign up bonus can be lucrative but you must first be familiar with the terms in order to get the most out of it. You should do some calculation to determine whether you can meet the spending goal prior to signing up. Besides, you should also weigh the overall benefits for signing up for a new card because having multiple cards can impact your credit score negatively. The most important thing is to always remember to pay your credit card bill on time every month so that you don’t have to pay the interest fees.