Quick Tips
2 Current Increased Credit Card Offers Worth Considering
Earlier this year, it was pretty unclear what the future would hold for rewards credit cards. While it seemed as though issuers might start cutting back, things turned around as they, instead, added new features to help cardholders get more value out of “the new normal.” Now, things are ramping back up with new products, better perks, and more all being unveiled in recent weeks. This recent winning streak happens to extend to two credit cards — one of which I’ve considered getting and one that I already have — that are offering enhanced welcome bonuses, making them even more attractive to new cardholders: the American Express Gold Card and the Capital One SavorOne.
American Express Gold Card
First up, the American Express Gold Card is currently offering its highest-ever public welcome bonus. Right now, new cardholders can earn 60,000 Membership Rewards points when they spend $4,000 on the card in their first six months — yes, six months. For context, the standard offer is 35,000 points for the same spending amount within three months. Also notable is that 60,000 happens to be what I got when I opened my Platinum card account. In other words, this enhanced offer temporarily puts the card into a different class.
If you’re not familiar with the Gold card, it has a lot offer… even amid the pandemic. It features 4x points at restaurants as well as 4x points at U.S. supermarkets (although the latter category is capped at $25,000 in spending per year). Elsewhere, it offers 3x points on flights you book either directly through the airline or via Amex Travel — and then 1x points on everything else. Like several other Amex cards, the Gold card also features credits, such as a $10 a month in dining statements credit that can be triggered with purchases from Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and select Shake Shack locations. And, as of February 2021, it now also includes $10 a month in Uber Cash, which can be used on Uber Eats orders as well.
In terms of downsides, the Amex Gold does carry a $250 annual fee. However, whether you’re already running an American Express set-up or want to jump into the world of Membership Rewards points, this 60,000 point bonus could be a good opportunity. Plus, you’ll have six months to reach that $4,000 minimum spend, which can also help make the fee a bit easier to swallow.
Capital One SavorOne
While the Gold card offer is a good deal if you don’t mind the annual fee, it turns out there’s also a no-annual-fee alternative that just increased its welcome bonus as well. Currently, the Capital One SavorOne is rewarding new users with a $200 cash back bonus when you spend just $500 in your first three months. When my wife applied for this very card about a year ago, we earned a $150 bonus — which was already an impressive reward-to-spend ratio — so this $200 bonus is especially exciting.
What I like about the SavorOne is that it boasts 3% cashback on dining and entertainment. That latter category was key for me as a fan of the Disney Parks (not that I’ve had the chance to visit them recently). Additionally, it offers 2% back at grocery stores (excluding Targets or Walmarts) and 1% back on everything else. Also, when travel does resume, it’s nice to know that this card doesn’t charge any foreign transaction fees.
As I mentioned, if you don’t want to worry about points or annual fees, the SavorOne could be a strong option. In fact, that’s why my wife and I decided to add it to our wallets. With a super-achievable $500 minimum spend and a $200 reward, there’s now far more than ‘one’ reason to pick-up this card.
For those who have considered either the American Express Gold Card or Capital One SavorOne in the past, now seems like a good time to make it happen. Personally, even though I already have the SavorOne, this increased Gold offer does have me tempted (although I wish there were Shake Shacks in my area so that I could really make use of that dining credit). Lastly, since there’s no announced date for when these current offers will end, if you want to take advantage of either, you may want to make your decision ASAP.
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Credit cards are getting creative on their bonuses and offers these days, which can be good for consumers.
These days there are lots of various credit card offers to retain their users or attract new ones. This is a good opportunity to have these perks but always remember to spend wisely.