One of the best reasons to apply for a travel rewards credit card is the welcome offer. These offers often allow you to earn tens of thousands of points or miles within the first few months of opening a new credit card by hitting certain minimum spending requirements. However, welcome offers are constantly changing, so it’s important to know when it’s the right time to apply for a specific card. Timing is crucial because you don’t want to miss out on a haul of bonus points by applying too early or too late.
Tracking the welcome offers on specific cards over time is essential for understanding whether a particular offer is worth applying for at any given moment. Luckily, we’ve done the work for you and monitored some of the most popular travel rewards and cash-back cards to provide you with bonus ranges and clear benchmarks for when you should consider applying for each card.
In this article, we’ll focus on American Express, which offers some of the best cobranded and proprietary rewards cards available from any issuer. Below, you’ll find a list of the most popular Amex cards, along with a snapshot of each one’s welcome offer ranges and some guidance on when you should apply for each. Please note that we’re only discussing publicly-available welcome offers, although some individuals may receive targeted offers with more bonus points or cash back.
1. The Platinum Card® from American Express: This card offers a welcome offer of 100,000 bonus points after you spend $6,000 on purchases within the first six months of card membership. It also allows you to earn 10 points per dollar on “Shop Small” purchases in the U.S. and at restaurants worldwide, on up to $25,000 in combined purchases, also in the first six months of card membership. The best time to apply for this card is when the welcome offer exceeds 75,000 points, and it’s a no-brainer at the 100,000-point mark.
2. The Business Platinum Card® from American Express: This card offers a welcome offer of 150,000 bonus points. You can earn 100,000 points after you spend $5,000 on eligible purchases with the card in the first three months of card membership, and another 50,000 bonus points after spending $15,000 total in the first three months. The best time to apply for this card is when the welcome offer exceeds 100,000 points.
3. American Express® Gold Card: This card offers a welcome offer of 100,000 bonus points after you spend $4,000 on purchases in the first six months of card membership. The best time to apply for this card is when the welcome offer exceeds 60,000 points.
4. American Express® Business Gold Card: This card offers a welcome offer of 130,000 bonus points after you spend $20,000 on purchases within the first six months of card membership. The best time to apply for this card is when the welcome offer exceeds 70,000 points.
5. American Express® Green Card: This card offers a welcome offer of 60,000 bonus points after you spend $2,000 on purchases on your new card within the first six months of card membership. It also allows you to earn 20% back on travel and transit purchases in your first six months for up to $200 back. The best time to apply for this card is when the welcome offer exceeds 45,000 points.
These are just a few examples of the best American Express welcome offers. Each card has its own unique welcome offer and benefits, so it’s important to research and compare the offers before applying. Remember to consider the spending requirements and whether the benefits of the card align with your travel goals and spending habits.
In conclusion, the welcome offer is one of the main reasons to apply for a travel rewards credit card. Tracking the welcome offers on specific cards over time is crucial for knowing when it’s the right time to apply. American Express offers a range of fantastic welcome offers on their various cards, so it’s worth keeping an eye on them to maximize your rewards. Apply for a card when the welcome offer exceeds a certain benchmark, and make sure the benefits of the card align with your travel goals. Happy travels!