There are 3 main reasons to acquire a specific credit card: (1) The Sign-Up Bonus, (2) The Rewards for Spend, and (3) The Benefits / Credits
The Sign-Up Bonus (SUB) is what the credit card issuer uses to entice you to become their customer. This can range from nothing, to a couple hundred dollars, all the way up to more than $1,500.
The Rewards for Spend come in two flavors: (1) the number of points/miles, or % cashback, that you will get for spending on the card. This could be either a flat rate, or vary based on the category of spend that you are putting on the card. The other type of Reward for Spend is (2) bonus return for spending X number of dollars.
The Benefits typically are either travel or purchase related. The Credits are typically a way of reducing the impact of the Annual Fee, though I often do not equate them as a 1-to-1 savings. Here are some common Perks / Credits:
- Airline Lounge Access
- Elite Status (Airline / Hotel / Rental Car)
- Travel Insurance
- Price Protection
- Purchase Protection
- Extended Warranty
- Airline Fees
- Hotel Charges
- Generic Travel
Here at DealHacker.net, we will be focusing primarily on increased offers for the SUB, or temporary increases in the perks, as has been seen during the COVID-19 outbreak.