The major credit card issuers are in a real market-share war and they’re each coming up a variety of reward card offers.
American Express, Capital One, Citibank, Chase and Bank of America are seeking new customers with high credit scores. The offers are generally coming to those who have scores of 740 to 760.
In some cases, the credit card companies are doing different offers to the very same person. According to The Wall Street Journal, here are the parameters of what you can expect right now if you have excellent credit:
- American Express is offering 25,000 to 100,000 point bonuses for signs up.
- Chase is offering 40,000 to 75,000 points
- Citibank is offering 50,000 to 100,000 points.
- Capital One, whose Venture card has been named as one of best reward card in some tallies, is offering deals where you get 100,000 points to switch from competing reward card if you can show your usage pattern.
The key thing with any reward card is don’t get swayed by the fancy envelope. Look at the bonus and figure out what it translates into. Is it worth it to do the application and have another bill to navigate and pay each month?
For my money, I still believe the Fidelity 2% cash back cards are the best offer out there if you pay your balance in full every month.