What are credit card sign-up bonuses?
Credit card sign up bonus is a promotion offer that is given to new clients of banks and financial institutions. These rewards come in the form of reward points, cash back, or travel points and are usually given to card holders within the first few months of issuing the card or within the card’s first year. How Sign-Up Bonuses Work As for the features of bonuses, the individual reward, which is given by the credit card issuer to the holder, is given on the basis of meeting certain requirements, such as spending a fixed amount within a given period of one to three months. For example, you could get 5,000 reward points or some amount in cash back if you spend of ₹50,000 in the first three months on a specific card. Types of Sign-Up Bonuses 1. Reward Points: These points can be cashed in for items like groceries, hampers, gift cheques, or even outstanding travel bookings. They are flexible, keeping in mind that they may be used under many classes. 2. Cashback: This type of bonus gives th