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Beware: The Best Cash Back Credit Card Offer May Disappear Before You Can Apply

by / 0 Comments / Apr 08, 2015

The best cash back credit card is sometimes the one that is hard to get or where you have to act fast. For those who are starting to rack up a lot of credit cards, you may find it harder and harder to get the best sign-up bonuses. Obviously you can only get one sign-up bonus with a card like the Amex Preferred Rewards Gold (PRG) so it would make sense not to waste that application unless they have a special limited time offer. But you never really know for sure when cards are going to be increasing their sign-up bonuses.

I signed up with the Amex PRG card when they had a special sign-up bonus of 75,000 points a few years ago. That was the highest offer anyone had ever seen and it turned out to be a targeted offer that the public got hold of accidentally. When things like that happen, you’ll need to act quickly because these best cash back credit card offers don’t last! But most of the time it pays to be patient.

The standard offer for the PRG is 25,000 points but any time it goes up to 50,000, it’s probably a good time to get the card. Cards like this are known to fluctuate throughout the year and while you may not be able to predict when the offer will increase, it’s easy enough to wait around until it does.

The Best Cash Back Credit Card: Don’t Wait Too Long

If I’m considering a certain card, I’ll do my best to wait around for a limited time offer but I generally won’t wait forever. The bonuses on some of these cards are constantly fluctuating but they are hard to predict.

So if you see a card that you like with a bonus that is suitable for your needs, don’t wait. There’s the chance that points could get devalued and be worth slightly less when you get them and it’s better to secure the points now in case the bonus actually goes down. You may not ever find the best cash back credit card and you will just have to settle for what looks good.

Summer Time Limited Offers

A lot of credit card companies like to use the summer as a time to release limited time offers. So this is an especially good time to stay vigilant for new offers. Here are a few examples of common summer time limited time offers for the best cash reward credit card:

  • Amex: Normally increases the bonus on its Starwood Preferred Guest card from 25,000 to 30,000 points every summer. 30,000 points might not seem like a whole lot but Starwood has over 30 airline transfer partners and you can get up to 5 cents per point in value when redeeming at Starwood properties across the world.
  • Chase: Although they have a wide variety of cards, Chase likes to raise the bonus on its entry level Freedom card towards the beginning of the summer. This is a great card for beginners because there’s no annual fee and it doesn’t require an extensive credit history.
  • Barclaycard: Lufthansa and Barclaycard normally offer a sign-up bonus of just 20,000 miles on the Miles & More card but during the summer, it’s gone as high as 50,000 miles. Lufthansa is a member of the Star Alliance so you can redeem these points on United Airlines and not pay any fuel surcharge fees.

Limited Time Offers Aren’t The Best For Newbies

A lot of newbie credit card churners might be lured in by great limited time offers but remember that these cards often have the highest credit standards and spend requirements. If you’re just getting into the miles and points game, you should start with a more entry level card like the Chase Freedom or the Citi Thank You Card. These cards won’t offer bonuses in the 50,000 point range but you can still get a good limited time offer and get your credit headed in the right direction.

About the Author

Harry Campbell is a professional finance blogger and credit card enthusiast. Over the years, he has racked up close to two million points and miles from credit card sign-up bonuses and has used those points to fly all over the world for next to nothing.

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