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An initial bonus is a special type of reward offered to new cardholders when they meet certain criteria shortly after opening a credit card account. Typically, you earn an initial bonus when you make your first purchase or spend above a certain amount within a specified period of time. Common forms of initial bonuses include cashback, travel points or miles, statement credits, or gift cards.
Taking advantage of a lucrative initial bonus, every once in a while, is a great way to add to your savings or pay down existing debt, provided that you aren't forced to overspend in order to qualify.
The terms and conditions of these bonuses can vary widely among credit card issuers. So, it's important for consumers to carefully review the details and requirements associated with any initial bonus offer.
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People also ask
What is a welcome bonus on a credit card?
A welcome bonus on a credit card is a sum of cash back, miles, or points given to a new cardholder in return for opening an account, making their first purchase, or spending a certain amount in the first few months. Credit card welcome bonuses are an incentive to apply for and use the credit cards that offer them.
Also called initial bonuses or sign-up bonuses, welcome bonuses are typically found on credit card...
read full answer by Ryan P Page, Staff WriterWhat is the best credit card signup bonus with no annual fee?
The best credit card for a signup bonus with no annual fee is the Simmons Bank Rewards Visa Signature because it offers an initial bonus of 30,000 points for spending $3,000 in the first 3 months. This card also gives 1.25 points per $1 spent on purchases to go along with its $0 annual fee.
Best Credit Card Signup Bonuses with No Annual Fee
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read full answer by WalletHub, Financial CompanyAre credit card sign-on bonuses worth it?
Credit card sign-on bonuses are worth getting if you qualify for the bonus with your normal spending habits. The best offers can save you hundreds of dollars on purchases you’d make anyway, but if you spend a lot more than normal just to get the bonus, you could wind up wasting money on interest. You also should compare a card’s other terms, in addition to the bonus, since fees and ongoing rewards will make a...
read full answer by Theresa Chalfant, WriterDid we answer your question?
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