Why Credit Cards Are Giving People $500 Just To Sign Up

Could you use an extra $500 in your bank account right now? Thankfully, credit card companies are now giving customers free money. With the holiday rush over, your wallet may feel a little lighter after booking flights and buying gifts for loved ones. However, thousands of Americans have already taken advantage of free money being handed to them by credit card companies through credit card sign up bonuses.

With an extra $500 in your wallet, you could make a rent payment, pay off a pesky bill, or get your car repaired. Thankfully, scoring an extra $500 is now simple and easy thanks to generous credit card sign up bonuses.

In exchange for opening a brand new credit card, you could wind up with an extra $150, $200 or even $500 in your pocket. In some special cases, the bonus you receive could even be more. You can essentially open as many credit cards as you would like to get the maximum bonuses from each card provider.

Why Credit Cards Are Giving Customers Free Money

In the last decade, the credit card and financial space has become highly competitive, with more and more unique credit cards being offered each day. Large credit card companies such as Chase or Wells Fargo are no longer the only platers in the field. Now, there are credit card companies that are even 100% online.

In order to stand out in the crowd and attract new customers to their credit cards, credit card companies are looking for unique ways to attract new customers. Although some may use advertising to reach new customers, advertising can be expensive.

As an example, a single television commercial for a credit card company could cost upwards of $100,000. Additionally, each credit card company may have to spend over $2,000 just to get a new customer to open an account.

A credit card sign up bonus can be a far smarter way for customers to get paid while helping credit card companies find and sign up new customers. A sign up bonus of $200 or even $500 costs the bank far less money than attracting a new customer through a television ad. These generous sign up bonuses not only save the credit card companies millions in advertising expense, but also provide a direct benefit to consumers by giving them access to free money once they are signed up.

Some credit card companies may even offer customers more than just a sign up bonus. As an example, some banks may also offer double points or additional benefits for opening a new credit card. These credit card bonuses can be a great way for consumers to earn a little extra money after their holiday spending.

With that being said, here are some of the best credit card sign up bonuses that are available to customers across the United States.

Chase Ink Business Cash Credit Card – $500 Bonus

Chase has become a leader in the credit card space over the last two decades. The bank gained fame after it began offering customers large sign up bonuses to enroll in new credit cards. Now, new credit card holders of the Chase Ink Business Cash credit card can earn up to $500 for signing up.

In order to earn the bonus through chase, you will need to only spend $3,000 on any purchases in the first 3 months of the account opening. The credit card also offers other perks, such as 5% cash back on select categories. A 0% APR on purchases for the first 12 months of ownership also make repayment a breeze.

Bank of America Cash Rewards Credit Card – $200 Bonus

Bank of America is also one of the largest credit card companies in the United States. In order to attract more and more users, Bank of America is now offering a sign up bonus of $200 to new customers that open a Bank of America Cash Rewards credit card. All customers need to do to get their bonus is spend at least $1,000 on the credit card in the first 90 days of having the account open.

Customers can also earn up to 3% cash back on a select category of their choice. You’ll also get access to 2% cash back on grocery stores and at wholesale clubs. All other purchases made will earn 1% cash back.

Chase Freedom Credit Card – $150 Bonus

Chase is also offering customers access to another credit card that has a generous sign up bonus of $150. This credit card only requires customers to spend $500 in the first three months of having the account open.

Customers will also get access to 5% cash back in up to $1,500 in combined purchases in select categories. All other categories will earn 1% automatically. With low spending requirements, this credit card is ideal for customers looking for an easy way to earn quick money.

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Sources:
  1. https://www.creditcards.com/signup-bonuses/

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