The good news: the are many “best ever” opportunities to earn points from home right now.
The bad news: they probably won’t last much longer, and they’ll soon be harder to get.
Last week saw the rise of exciting rewards card bonuses, including some over 125,000 points, or even 140,000 points, just from just one card!
This isn’t a time for immediate travel, but having a bank vault full of rewards points when the world gets moving again is a brilliant move, and during a time without distraction to spend those points left and right, more people will learn how to maximize their bounty.
Plus, offers will be coming left and right and availability will be fantastic as airlines and hotels try to get people back out into the world.
First One Mile At A Time wrote these bonuses won’t last, then View From The Wing followed on with further reason why this is true. Really, it is. If you’re eyeing up these lucrative offers, some of which are at all time highs, now is the time to do so, because it may be a while until we see anything similar, and there are tangible reasons for that.
Limited Marketing Budgets
Huge card welcome bonuses are effectively marketing. They do the talking to get the card into your conversation and when uncertainty such as the present looms, marketing budgets are often among the first things cut in any business.
If you were strongly considering one of these bonuses, and only if, you may want to actually go for it, while its there. Following trends of card issuers introducing lenient policies to help customers during these times, money and resources will likely be diverted to other parts of the business.
There’s no hard sales pitch, just a heads up. It’s not to say these bonuses won’t come back around when things rebound, but since no one knows for sure when that will be, it could be a while, and the offers are simply fantastic right now, even for low annual fee cards which aren’t justified by the travel benefits alone.
Gary Leff notes a key point here as well: applications will soon face additional scrutiny. In times of recession, or even talk of the “d” word, banks typically end up writing off lots of “bad debt” and we’re about to see stricter measures introduced.
To prevent too many write offs, banks cull lofty credit limits and tighten application criteria to protect against further losses. This means many people who are in stable positions may find applications rejected for things as simple as having too much credit.
Never, ever, take out a new card if you plan to carry a balance, since it invalidates the entire point of earning “free points”, but if you’re in a stable position and are looking to boost points balances to take advantage of fantastic offers to get people traveling again, it’s a wise time to jump in.
Like most blogs, this blog is paid when people do sign up for cards, but it’s never been a primary focus of this particular site. Sometimes offers are just too good to pass up, and we try to only jump in and highlight times when it’s really worth saying “ok, maybe it’s time”.