A signup bonus is something that credit cards offer to customers who just opened a new account. It usually involves a bonus in the form of cash back, points, miles, or other types of rewards. But there is a catch, most of the time you need to spend a minimum amount of money on your card in a given timeframe to get this bonus. And these signup bonuses can be quite lucrative, so they are worth taking a good look at.
Determine Which Credit Card Signup Bonus Is Right For You
There are a handful of factors when determining which credit card signup bonus to go with. But the main thing to look at is what type of rewards you want. If you are looking to travel soon, then a great travel credit card signup bonus would be your best bet. If you prefer cash back, then take a look at the bonuses that cash back credit cards are offering. Either way a signup bonus is something that you want to take advantage of.
Remember that the purpose of a taking advantage of a signup bonus is to spend money you were going to spend anyways to qualify for the bonus. If you are unable to pay off you balance in full, then any interest you incur will eat away at whatever bonus you get.