Best Credit Card Bonuses If You Have Good Credit (Updated 2016)
It is important to have good credit for many reasons such as easily qualifying for loans and mortgages. Another benefit of good credit is the opportunity to receive great bonuses and promotional offers on various credit cards. If you have an excellent credit score of 720 or higher the credit card companies will pull out all the stops to get your business. Basically the banks will actually put money in your pocket when you open and use their credit cards in the form of sign up bonuses. Who can say no to free money?
However, it is important to keep in mind some of these cards have an annual fee. This article will list and explain the top credit card bonuses on the market for individuals with good credit.
Here are the best credit card bonuses of 2016 by specific credit card for people with GOOD credit history. If you don’t have good credit history, then this article is not for you!
Capital One Venture One Rewards Credit Card
This travel credit card offers a great bonus that rewards you with a one time bonus of 40 000 miles once you spend $3000 on purchases with the card within the first 3 months that you have the card. This is the equivalent to $400 off on travel purchases. This card will also allow you to earn 2x the miles on every purchase. That is 2 miles per every dollar spent. Your points can be redeemed for flight on any airline and stays at any hotel. This card has no annual fee for the first year, then a $59 annual fee follows.
Discover IT Credit Card
The Discover IT cash back credit card will double all of the cash back that you’ve earned after the first year of owning the card. If you have earned $150 in cash back at the end of your first year with the card, Discover will double it, awarding you with $300. This applies only to new members. Receive 5% cash back on revolving categories and 1% on all other purchases. You can redeem your cash back with any amount at any time. There is no annual fee or no foreign transaction fee.
Chase Freedom Credit Card
The Chase Freedom Cash Back Card will award you with a $150 bonus after you spend $500 in purchases in your first 3 months of opening the card. Furthermore, you will also earn another $25 if you add an additional user to the card. That user has to make a purchase with the first 3 months in order to receive the $25. You can earn up to 5% cash back on revolving categories such as gas and groceries. All purchases outside of the 5% revolving categories pay 1%. This card has no annual fee.
Chase Sapphire Preferred Credit Card
This rewards credit card will award you with whopping 50 000 bonus points after you spend $4000 within the first 3 months of opening the card. You can also earn 5000 bonus points after you add another authorized user to the card. The new user must make a purchase within the first 3 months in order to receive the bonus points. This card earns you 2x the points on travel and dining purchases and 1 point per dollar spent on any other purchases. This card has no annual fee in the first year, then a $95 annual fee follows.
Bank Americard Travel Rewards Credit Card
This rewards card will allow you to earn 20 000 bonus points when you spend $1000 in purchases in the first 90 days. This can be the equivalent to a $200 statement credit that can be used towards any travel purchases. You can receive a bonus of an additional 10% customer points on every purchase is you have an active Bank Of America checking or savings account. If you have a Bank of America account then this is the credit card for you. You can earn an unlimited 1.5 points per $1 spent on all purchases. There are no foreign transaction fees and no annual fees.
Bank Americard Cash Rewards Credit Card
This card’s bonus offers a $100 online cash rewards bonus after you spend $500 on purchases within 3 months of card opening. Also you can get a 10% bonus every time you redeem your cash back into a Bank of America checking or savings account. You can earn 1% cash back on every purchase, 2% at grocery stores, and 3% on gas purchases. This card does not have an annual fee.
Chase Ink Plus Business Credit Card
This card has a great offer for small business owners. You can earn 60 000 bonus points after you spend $5000 in purchases in the first 3 months of card opening. That can be used for $750 off travel purchases through Chase Ultimate Rewards. You can earn 5x the points per $1 spent on assorted categories as well as 3x the points on another set of categories. This card offers additional cards for employees to use at no additional cost. There are no foreign transaction fees and the card has a $95 annual fee.
When choosing a card with a good bonus, make sure the card fits with your purchasing habits and needs. For example, while the Bank Americard Travel credit card has a nice bonus offer, if you do not travel often then this bonus would not be of good use to you. Furthermore, if you are someone who uses their card for everyday purchases, then the Chase Freedom card would be a good fit for you, as you would get up to 5% cash back, and would receive the $150 bonus quickly. Basically do not get a card just because of the bonus offer, look into all the features and fees, and see which card is best for your spending habits.