For the Creditworthy, Worthwhile Credit Card Bonus Deals Abound

Credit cardsSometimes, it really does pay to do the right thing. Those who kept their credit profiles squeaky clean during the Great Recession and its aftermath can now dance with the best credit card issuers.

Credit card companies are tripping over themselves to attract big spending, timely payers. The credit industry mavens at CardHub.com report that there are more credit cards offering higher initial rewards bonuses -- for people with credit scores above 700.

CardHub looked at more than 800 credit card offers and found 338 cards with initial rewards bonuses. While the perks varied, they all had initial bonuses that kicks in once you charge a certain amount within a designated introductory period. Out of 338 products CardHub examined, the following cards stood out:

Southwest Airlines Credit Card (LUV): Get 50,000 bonus points (worth over $800 in Wanna Get Away fares) after your first purchase; $99 annual fee.

Chase Sapphire Preferred Card (JPM): Get $625 worth of airfare or hotel accommodations or $500 cash back when you spend $3,000 during the first three months; no first-year annual fee.

Capital One Venture Rewards (COF):
Score $250 in travel expenses when you spend $1,000 in the first three months; no first-year annual fee.

New Ink Cash Business Card: Also from Chase, this card offers $250 cash back to business owners who spend $5,000 in the first three months; no annual fee.

Chase Freedom Visa: Earn $200 cash back after spending $500 in the first three months; no annual fee.

British Airways Credit Card (BAIRY):
Earn 50,000 miles, enough for a free trans-Atlantic flight, when you spend $2,500 in the first 90 days; $95 annual fee.

The goodies don't stop with the cards on that list. In addition, reports CardHub, there are numerous credit card offers currently on the market with initial bonuses worth at least $100. Among them are the Blue Cash Preferred from American Express (AXP) the Citi Dividend Platinum Select (C) and the BankAmericard Cash Rewards (BAC).

Take Two Credit Cards -- Or More


If you're tempted to go after several of these offers, your money instincts may be setting off warning signals: Personal finance gurus have told us repeatedly it's a bad idea to have too many inquiries into your credit, and to not apply for too many cards at once. But in this case, there's no need to worry about long-term consequences from seeking these deals, says Card Hub CEO Odysseas Papadimitriou.

"The fear of a credit score hit shouldn't cause consumers to shy away from these offers either," said Papadimitriou in a prepared statement. "While it is true that your credit score will take a dip for about six months each time you apply for a new credit card, this shouldn't be of concern unless you plan on applying for a loan, taking out a mortgage or otherwise actually needing the best credit score possible within that time frame."

"The hit you take as a result of opening a new card will not be permanent and will truthfully be irrelevant unless you need your credit score," he said. "On the other hand, the benefit of a lucrative rewards credit card offer is plain to see."

Credit cards don't have to be a tolerated evil. If you can get rewarded for the everyday purchases you make, and the bills you have to pay anyway, how can it be a bad thing to get cash back or perks that might make that dream vacation a bit more possible? A win-win, especially if you pay off your balances monthly.



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dracotriumphant

What I want to know is, when did it become ok to allow the rich to spend more money that they have PLENTY of and be REWARDED for simply SPENDING money, when millions have to make the choice between food or medicine? That, to me, is how the rich have become richer and the poor have become poorer. It's just wrong.

July 13 2011 at 11:08 PM Report abuse rate up rate down Reply
Felix Branson

As it happens, I am the recipient of one such offer, which I received last week. Citi is giving me a credit card with a $100 cash back bonus payable if I make $500 in purchases in the first three months after the account is opened. Additionally, I get 5 percent cash back on selected categories of purchases that change every three months and 1 percent cash back on all other purchases. The introductory APR on balance transfers and purchases is 0 percent for the first 15 months. There is no annual fee. I have never seen an offer like this one before!

And there are reports that issuers are mailing out even better offers than that. Last week we reported that some of Chase’s Freedom cards offer $300 as a cash incentive, while some British Airways Visa Signature cards offer 100,000 bonus miles – enough for two transatlantic or four domestic round-trip tickets. http://blog.unibulmerchantservices.com/americans-get-more-credit-cards-much-better-terms

July 13 2011 at 6:36 PM Report abuse rate up rate down Reply
Leonard

Al Sharpton has absolutely no credability. He is still a self promoting street hustler. Make sure you withhold his taxes.

July 13 2011 at 3:38 PM Report abuse rate up rate down Reply
allaye2

Hey, Mike.. What is a super high credit score, 650???. I also received an offer from Capitol One ( seems like I get one every month) and they wanted to charge me 11.99%. You certainly have the right idea in paying off the balance every month.

July 13 2011 at 3:24 PM Report abuse rate up rate down Reply
Qassam

@chris1011: David Brooks is NOT a conservative. He just calls himself that so he can be the diversity at the New York Slimes.

July 13 2011 at 1:55 PM Report abuse rate up rate down Reply
Mike Sanders

"Credit card companies are tripping over themselves to attract big spending, timely payers" - Simply not true!
I have a super high credit score and Capitol One still wants to rape me with 16.9% APR!
F'em, I hope the credit card industry drys up and blows away! I'll never carry a balance! They will naver make a dime off of me ever again.

July 13 2011 at 11:11 AM Report abuse rate up rate down Reply
1 reply to Mike Sanders's comment
Qassam

Agree, the offers they have out there are pretty crappy, at least on the rate. They're a little better on the rewards.

What I find interesting is just how few offers I get these days. Before the recession I was getting at least three offers a week. During the recession ZERO. And now maybe two per month: and in that time my credit score and FICO have actually gone up.

July 13 2011 at 2:01 PM Report abuse rate up rate down Reply
chris1011

Remember Jim Jones and the congregation he led from San Francisco to northern Guyana? Remember how he reacted to members of congress that came to investigate him? He murdered many. Then, all his followers drank the cyanide poison, most by obedience and some by force. It is a testimony to some 200 people's choice to embrace blind obedience, stupidity, and paranoia.

For years I have been claiming that the present Republican party is no longer Republican. It has been kidnapped by a group of extreme ideologues that uses the Republican name to fool people. Quite successfully.

Grover Norquist, a fundamentalist conservative, has had all Republican Congressmen, but 13, sign a pledge to never raise taxes or eliminate tax loop holes. Never, never, never. Thus, when it comes to taxes (and women's rights) those who sign the pledge have relinquished their independence, their intellectual abilities, and their loyalty to the constitution. Notice how often Republican congressmen vote unanimously on an issue. When two Republicans from Maine refuse, it becomes national news. They risk internal punishment from their party.

David Brooks, a conservative columnist for the NYTimes, wrote an article entitled, "the Mother of All No-Brainers,"on July 4. He concludes that the present group of uncompromising "Republican fanatics" are "not fit to govern."

Richard Cohen of the Washington Post wrote "the G.O.P......has become a political cult. The hallmark of a cult is to replace reason with feverish belief. It is the redoubt of certainty over reason, and in itself (is) significantly responsible for the government deficit that matters most: leadership."

These columns were written to illustrate why no compromise with President Obama is possible, regardless of the issue or the number of meetings.

I hate to think that we average citizens will allow this to continue. We can't wait for the next election to select independent thinkers. We must speak to our congressmen NOW, THIS WEEK. America needs her thinking, realistic citizens to reject these extremists. That is, while we still can.

July 13 2011 at 10:29 AM Report abuse -5 rate up rate down Reply
2 replies to chris1011's comment
nomorebarry7

Just a little of topic huh Chrissy ? Isn't that a TOS violation?

July 13 2011 at 10:35 AM Report abuse +3 rate up rate down Reply
fpfininc

they only care about abortion and the bible, the heck with economic thinking . and the right, right, right supports them as they vote for anything as long as the candidate is anti-abortion . sad state of affairs for our country

July 13 2011 at 7:09 PM Report abuse rate up rate down Reply
scottee

both parties in congress reward debt and punish savings via the tax code. is this okay with everyone?

July 13 2011 at 9:24 AM Report abuse +2 rate up rate down Reply
1 reply to scottee's comment
Qassam

Apparently so.

July 13 2011 at 1:56 PM Report abuse rate up rate down Reply
Mikerat42

According to the right, things that make you a liberal change from moment to moment.. If their newspaper is delivered late, it's a lib plot..If your waitress is surly, it's the lib's fault..Ideology has nothing to do with it..

July 13 2011 at 9:06 AM Report abuse rate up rate down Reply
frank1946

Only Democrats believe in Credit Cards !

Anyone with an IQ above 10 avoids them !

Bankers are pretty sick people !

July 13 2011 at 7:38 AM Report abuse +2 rate up rate down Reply
5 replies to frank1946's comment