Are you considering applying for a new credit card bonus but unsure when you should start preparing? Getting your credit in shape, choosing the right card and planning out how to meet the spending requirement can take longer than you think.
Your credit score can play a big role in whether you’re approved for a credit card, and improving it usually takes time. In the final weeks leading up to your application, it’s also worth outlining how you’ll meet the spending requirement.
With many cards offering limited-time bonuses, not getting approved for a card could mean missing out on a best-ever welcome offer. CNBC Select covers how to prepare for your next credit card application and provides a rough timeline for when to tackle each step.
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Credit card sign-up bonus timeline
When are the best times to apply for a welcome bonus?
Since many credit card bonuses rotate in and out of availability, it can be hard to time your application exactly right, especially if you can’t afford to wait around. While you should typically apply for a card when it has a higher bonus, it’s also important to have a plan for meeting the spending requirement in a way that doesn’t overextend you financially.
If you’re planning on making a major purchase in the near future, this could be a great reason to look into earning a welcome bonus. For example, if you have a home repair or are buying a new appliance, these larger expenses can be an easy way to hit a bonus’s spending requirement. Plus, you can stack the bonus with any rewards you earn on the purchase itself.
It’s also a good idea to consider opening a new card right before a vacation. Travel rewards cards typically earn points or miles on your travel purchases, so after booking your trip, you’ll have a stockpile of points for either a few extra days or the start of a new journey. Plus, these cards come with perks like TSA PreCheck credits or access to airport lounges.
It’s never worth attempting to hit a bonus’s spending requirement if you’re not able to pay back your purchases. If you do, interest charges can cancel out any rewards you earn.
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3 to 6 months before applying
This is the earliest phase of planning, when you start thinking, “Maybe I could use another credit card.”
In this phase, you should focus on making sure your credit score is in the best shape possible for any future applications. During this period, be sure to pay bills on time and in full and double-check your credit report for any errors or outdated information.
If you’re looking to boost your credit score a bit, Experian Boost could work. This free service lets you connect your Experian account to your bank account or credit card and receive credit for paying certain bills, like your rent or internet. While this will only influence your Experian credit score, it could still help depending on which score your lender uses.
Experian Boost®
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Cost
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Average credit score increase
13 points, though results vary
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Credit report affected
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Credit scoring model used
Results will vary. See website for details.
1 to 2 months before applying
During this phase, start to narrow down the credit cards you’re interested in and evaluate current offers to see how they compare to older ones.
Since credit card welcome offers can go in and out of availability, a card’s best bonus might not always be available. You can often find sites that list past bonuses of credit cards — like we outline in our list of top welcome bonuses ending soon — which can help you know how current deals compare to older offers.
It might not always make sense to wait for a card’s highest possible bonus, especially if you have a time-sensitive purchase. However, if you can afford to wait for a better offer, it can greatly increase the card’s initial value.
This is also a great time to do a deeper dive into one or two cards you’re targeting to make sure they make sense for life beyond the bonus. If you don’t get future value from the card, it might not be worth it; here are a few questions to consider:
- Does the card offer any statement credits? If so, are they for services you’d realistically use?
- Is the card earning rewards on any of your top spending categories?
- Will you take advantage of any perks like lounge access or hotel upgrades?
- Will you get more value than the annual fee in the second year?
The best credit cards come with a welcome bonus you can hit and benefits that provide value in the years to come.
2 to 3 weeks before applying
In this window, map out your future spending so you have an idea of how to hit the spending requirement.
For example, if you have to hit a $4,000 spending requirement within the first three months of account opening, that means you’ll have to spend an average of $1,334 per month, or roughly $333 per week. If that’s above what you normally spend, you should come up with a plan of attack before you apply.
This would be a great time to make any large purchase you’ve already been planning, like a new home appliance or even a vacation. You shouldn’t simply increase your spending without thinking about it; the goal isn’t to spend more, but to redirect all your intentional spending through your new card.
After approval
Once you apply for your desired card and receive approval, you can start spending.
If your new card earns rewards on utilities or streaming services, for example, make sure you swap out your payment information so the new card is being charged. It’s also recommended to set up autopayments for your new card; you might even get a discount depending on the card and issuer.
Front-loading your spending may help relieve some stress when the bonus deadline starts looming. You never want to leave hitting your bonus until the last several days, so periodically check on your overall progress, whether that’s at the end of each month or week.
Once you’ve hit your spending goal within the allotted timeframe, simply wait for the bonus to hit your account.
Limited-time bonuses to consider
If you’re still shopping around for a credit card that fits you best, here are a few current welcome bonuses you could take advantage of.
Chase Sapphire Preferred® Card
If you’ve been looking for a credit card with a sub-$100 annual fee that still comes loaded with perks, the Chase Sapphire Preferred® Card (see rates and fees) is a great fit.
The card is currently matching its best-ever offer of 100,000 bonus points after you spend $5,000 on purchases in the first three months. Even if redeemed at a rate of 1 cent per point, this bonus is worth $1,000 — and potentially much more if redeemed toward travel.
On top of the bonus, the card comes with a $100 annual hotel credit for Chase Travel, a Global Entry, TSA PreCheck or NEXUS application fee credit and several 3X rewards categories, including gas stations, dining and streaming services.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections, flexible rewards and more.
- You can transfer rewards to all of Chase’s travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- Annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
- Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get a year of complimentary Apple TV when activated by December 31, 2026 – a value of $156.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck® or NEXUS application.
- Transfer points to leading airline and hotel loyalty programs
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Capital One Savor Cash Rewards Credit Card
The Capital One Savor Cash Rewards Credit Card is a good option if you’re looking for a cash-back credit card but don’t want to fork over a couple thousand dollars for a welcome bonus.
The card is currently offering a heightened $250 cash bonus after you spend $500 on purchases within the first three months. This solid no-annual-fee card earns 3% cash back in a variety of categories, including grocery stores (excluding superstores like Walmart® and Target®), dining, entertainment and popular streaming services.
The Capital One Savor Cash Rewards Credit Card is one of the most rewarding options for earning cash back in categories such as entertainment and dining without paying an annual fee. Plus, you can combine its rewards with Capital One’s travel cards to convert them into transferable miles.
- One of the most rewarding cash back cards for entertainment and streaming services
- No annual fee
- Easy-to-earn welcome bonus
- High APR
- Requires a good to excellent credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- For a limited time, earn a one-time $250 cash bonus once you spend $500 on purchases within the first 3 months from account opening
- $0 annual fee and no foreign transaction fees
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
- Earn 8% cash back on Capital One Entertainment purchases
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
- 0% intro APR on purchases and balance transfers for 12 months; 18.74% – 28.74% variable APR after that; balance transfer fee applies
- Top rated mobile app
Balance transfer fee
Introductory fee of3%of the amount of each transferred balance that posts to your account during the first 12 months that your account is open. After that,4%of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you at any other time.
Ink Business Unlimited® Credit Card
If you’re a freelancer, independent contractor or even a small-business owner looking for your next business card, the Ink Business Unlimited® Credit Card (see rates and fees) earns an unlimited 1.5% cash back on every purchase made for your business.
It’s also offering its best-ever bonus offer of $1,000 in cash back after spending $8,000 on purchases in the first four months. Points are easy to earn with this flat-rate card, and you can redeem them in several ways, from generic statement credits to travel.
The Ink Business Unlimited® Credit Card is a flat-rate cash-back card with a strong intro-APR offer for purchases.
- Intro APR for purchases
- Valuable welcome bonus
- No annual fee
- You can’t transfer rewards to travel partners without pairing it with another Chase card
- Has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn$1,000 bonus cash back after you spend $8,000 on purchases in the first 4 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Earn 5% total cash back on Lyft rides through 9/30/27.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
3% of each transaction in U.S. dollars
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