We are at an interesting moment in time. Travel is on the rebound, we can (hopefully) see light at the other end of the pandemic tunnel and credit card welcome bonuses are hitting all-time highs.
If you are like me and pulled back on applying for new credit cards in the last year, it may be time to come out of hibernation.
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Right now, credit card welcome bonuses are reaching heights we haven’t seen in a long time. In fact, some offers are at all-time highs. And with the vaccine rollout progressing and travel restrictions lessening, the timing for getting a rewards card is actually great.
Here are a few reasons why it’s a good time to apply for a new rewards credit card.
I want a big welcome bonus from whatever credit card I get next. Preferably, I want a bonus worth $1,000 or more.
For me, there are two prime candidates I’d recommend others to apply for right now, both with the highest bonuses we’ve seen yet.
The first is the Capital One Venture Rewards Credit Card that’s offering a limited-time increased bonus of 100,000 bonus miles after you spend $20,000 on purchases in the first 12 months of account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first three months of account opening.
Depending on how you use these miles, they are worth $1,000 to $1,400 toward travel (the latter is based on TPG valuations and not the issuer) with just a $95 annual fee. I’m kind of loving having points I can use toward home rentals and other more flexible redemption types, so I know I could put those to great use. But, I can also choose to redeem these miles by transferring to partners if I want.
Then there is the Chase Sapphire Preferred Card and its best-ever offer of 80,000 Ultimate Rewards points awarded after $4,000 in spending in the first three months and a $50 statement credit toward a grocery purchase. This is valued at $1,650 based on TPG valuations if you leverage the 13 hotel and airline partners such as Southwest, United, Hyatt and more.
But — even if you want to keep things super simple and not transfer your Chase points to any partner, you can still book $1,000 in travel via the Chase Travel site with those 80,000 points. This is, by far, my most recommend card to those new to points and miles.
Related: How to maximize Chase Ultimate Rewards points
A third card high on my personal radar, even though the bonus isn’t worth quite as much, is the Citi Prestige® Card. This card is offering 50,000 bonus points after spending $4,000 within the first three months. TPG values this bonus at $850.
The information for the Citi Prestige card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
What’s cool about this card for me, is that you can use the points to book Disney World tickets and hotel stays.
In fact, Citi ThankYou points are the best type of points for that type of trip. With the Citi Prestige card, you can also get the fourth night free on paid hotel stays up to twice per year. In our new reality, we are actually staying at hotels longer than before when we travel, so I think we could put this perk to use.
The card’s annual $250 travel credit per calendar year can also be used toward supermarket and restaurant purchases in 2021.
Here are many more rewards credit cards currently offering welcome bonuses that TPG values at $1,000 or more as well as the ones with welcome bonuses at or above 100,000 points.
New travel patterns
Not only are credit card welcome bonuses really good right now, but it is a great time to evaluate your current travel patterns. Or rather, think about what your travel patterns are most likely to be in the coming months
A lot has changed this year in the world of travel while many of us were staying home. For example, multiple airline route networks got a shake-up to some leisure destinations and even to new airports. Southwest Airlines added lots of dots to their route map, including Colorado ski country destinations, which catches my attention.
Other airlines similarly expanded service in some areas while contracting in others. The best airline for your 2021 and 2022 flights may not be the one that was best in prior years. Additionally, more airlines moved to fee-free change policies that will outlive the pandemic.
If Delta has become your airline of choice, the line-up of Delta credit cards is currently offering bonuses of up to 90,000 Delta SkyMiles. I have and love the Delta SkyMiles® Platinum American Express Card thanks to its annual awarding of a companion airline ticket. The timing to get this card is currently exceptional as it is offering 90,000 miles after $3,000 in spending in the first three months of account opening.
If you expect to stay at Marriott properties in 2021 or 2022, another increased card offer to consider is from the Marriott Bonvoy Brilliant™ American Express® Card.
Until May 12, 2021, this card awards up to 125,000 bonus Marriott points after $5,000 in spending in the first three months of account opening. On top of that, the card is also offering $200 statement credits against spending at U.S. restaurants in the first six months.
You can start making plans
It felt impossible to plan for much of 2020. As soon as you thought maybe things were getting better, they’d get worse all over again. And while that is still true to some extent in 2021, the vaccine rollout really is a gamechanger for life — and travel.
While we all know anything can happen, it’s now possible to make tentative travel plans for the upcoming months and feel more secure that they are likely to happen.
After not traveling through the winter months, my family is fresh off of a successful spring break ski trip.
Next up is a family trip to Disney World, a kid-free trip to the beach and then a multi-generation trip to Glacier National Park. And while we may have to tweak or delay something if circumstances change, the adults in our traveling group are all vaccinated and ready to safely get back out there.
That means I have the ability to make educated guesses on which points and perks will be most useful for us in the coming months.
Getting back out there also means we are again able to use airline credits and lounge access from cards such as The Platinum Card® from American Express.
This card currently has a public welcome bonus of 75,000-points after you spend $5,000 in the first six months of account opening. It’s also offering new cardholders a whopping 10x points per dollar spent on eligible purchases made at U.S. gas stations and U.S. supermarkets. This bonus applies to up to $15,000 in combined spending during the first six months of card membership.
But some lucky folks are eligible for a bonus of up to 125,000 points via the CardMatch tool, so check there first before applying.
Despite everything that is still going on, it’s actually a great time to consider getting a new rewards credit card — especially if you’ve laid low on applying for new cards this year as we have. While we were busy waiting, the welcome bonuses have shot up to some historic levels.
And, with the summer travel right around the corner, you may be able to line-up some solid uses of those points, miles and perks whether you are booking a cabin nearby on the river or getting back up in the sky once again.
Featured image by author
SPONSORED: With states reopening, enjoying a meal from a restaurant no longer just means curbside pickup.
And when you do spend on dining, you should use a credit card that will maximize your rewards and potentially even score special discounts. Thanks to temporary card bonuses and changes due to coronavirus, you may even be able to score a meal at your favorite restaurant for free.
These are the best credit cards for dining out, taking out, and ordering in to maximize every meal purchase.
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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