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For American consumers, 2010 has brought a welcome return to the profusion of great credit card offers credit card shoppers enjoyed before the credit crisis of 2008 made all forms of credit dry up. Even though credit card terms are not as generous as they were in the past, credit card sign-up bonuses are among the best they have ever been. As card issuers roll out the red carpet to attract cardholders with excellent credit scores, savvy consumers stand to benefit.
Not surprisingly, the most attractive bonuses are offered for rewards credit cards with an annual fee, however, the fee is typically waived for the first year. Still, several no-fee rewards credit cards offer appealing sign-up bonuses as well. Below is a list of some of the best credit card sign-up bonuses in both categories.
American Express’s Premier Rewards Gold Card currently offers 15,000 bonus Membership Rewards points to new cardholders who spend $1,000 in the first three months. New cardholders can earn an additional 15,000 bonus points if they charge $30,000 over the course of a calendar year.
The 15,000 bonus points can be redeemed for a range of rewards, including $150 in gift cards for stores such as Macy’s, Home Depot, or Target; hotel stays, or to pay for everyday purchases, such as gas, office supplies, utilities, and more. Points can also be converted to miles at a one-to-one ratio, again a $150 value (a small booking fee may apply). The one drawback of the Amex Premier Rewards Gold Card is its $175 annual fee, but the fee is waived the first year.
Another rewards bonus stand-out is the Chase Sapphire Preferred card, which offers 25,000 bonus miles to new credit cardholders, who charge $3,000 within the first three months. Points can be redeemed for roundtrip flights up to $312.50 value on most major airlines; for more expensive fares, cardholders simply pay the difference. Points can also be redeemed for cash back at a 1:1 ratio. The $85 annual fee is waived the first year.
For consumers who prefer a no-annual-fee version, the Chase Sapphire card offers new cardholders 10,000 bonus points, equivalent to $100 in rewards, after their first purchase.
Another no-fee rewards credit card with a decent sign-up bonus offer is Citi’s Forward card, which currently offers new cardholders up to 8,500 ThankYou points when they make $250 in purchases and sign up for paperless statements within the first three months. Points can be redeemed for a number of different rewards, including gift cards, travel, statement credit, and even cash back. However, cash back doesn’t offer the best redemption value (only $50 for 8,000 points); cardholders get greater value by cashing rewards points in for gift cards from select retailers, such Barns & Noble, where $50 comes for only 6,000 points.
Another benefit of joining the Thank You point network is the variety of ways to earn new points; for example, using a Citi bank account debit card and even booking eligible travel on Expedia can make new points add up more quickly.
There are numerous other bonus offers available. See here for more great credit card sign-up deals.
