Recently, as I’ve been surfing the Internet, reading financial blogs and yahoo finance forums, I’ve started to notice an interesting credit card trend.
The major banks are getting REALLY aggressive with their credit card rewards programs. It seems like I’m seeing an ad on ever site I visit tempting me to open up a new credit card account with Chase or Citibank…and their are offering me 50,000 Bonus Points, and more, if I take the plunge.
This is a pretty amazing deal! These bonus points are very easily turned into cash or gift cards at almost any major retailer or restaurant. The catch is that generally you have to spend around $3000 on the card, in the first 3 months that your new account is open, t0 get the bonus rewards.
In addition to the bonus, you still get the normal 1%, or somethings 2%, rebates on all of your purchases. The free stuff can add up fast if you are a big spender and if you pay off your card in full each month.
Conclusion: The best offer that I’ve found at this point is from Citibank. Check out http://www.citi.com/rewards
Remember, USE CREDIT CARDS WISELY! If you buy a bunch of stuff you don’t need, or carry a balance and pay interest, you will never get ahead…and you could be stuck being an “Almost Millionaire” forever 🙂