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Maximizing your credit cards' bonus categories can help you earn more in the long haul, but what you earn from spending can pale in comparison to the best credit card welcome bonuses. Signing up for a credit card with a limited-time offer can further maximize your value.
This makes patience an important part of the best credit card strategy; you can secure an intro bonus worth hundreds of dollars more by waiting for a better offer. When you're not in a rush, you'll also have more opportunities to take advantage of other deals, such as travel transfer bonuses.
CNBC Select covers when it makes sense to wait, and a few instances where waiting could cost you.
Wait for an increased bonus
The highest return on spending categories like groceries, dining or gas is typically 3X to 5X. But with a welcome bonus, you can easily earn 10X (or more) on the spending you're required to make to earn the bonus. A good travel credit card could offer a 50,000-point bonus after spending $5,000 in the first three months. If you earn at least 1X points on your purchases, that's 55,000 points for $5,000 in purchases, or an 11X return.
Welcome bonus offers are constantly in flux, so you can make the most of your credit card applications by being patient and waiting for a bigger, limited-time bonus. This strategy is even more important as card issuers impose restrictions on bonus offers, such as the once-per-lifetime limitation Chase added to the Chase Sapphire Preferred® Card (see rates and fees) and Chase Sapphire Reserve® (see rates and fees) in 2025.
The Chase Sapphire Preferred is the perfect example of this, as it currently features an all-time-high welcome offer. You can earn 100,000 points after spending $5,000 on purchases within the first three months from account opening.
The Chase Sapphire Reserve® is a standout premium credit card with luxury perks including, hotel credits, complimentary hotel elite status, travel credits, dining credits, rideshare and delivery benefits and much more.
- Access Priority Pass lounges, including unlimited access to Chase Sapphire Lounge® by The Club locations.
- Up to $300 in annual travel credit each account anniversary year
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Top-tier travel and shopping protections
- High annual fee
- Requires a high credit score
- Complicated list of benefits
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 $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
When you factor in the points you'll earn from the minimum spending (at least 5,000, but likely more), you'll have no less than 105,000 points after you earn the Sapphire Preferred bonus. That's a return of 21 points per dollar on the $5,000 minimum spending. And you get all of that on top of benefits like a $100 Chase Travel Hotel Credit and credit toward Global Entry, TSA PreCheck or NEXUS.
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
Wait for a transfer bonus
Transferable travel rewards programs regularly offer bonuses when you move your credit card rewards to a specific partner. Transfer bonuses for airline programs usually range from 15% to 30%, and hotel program transfer bonuses can be even higher.
Tip: If you have a Bilt credit card or earn Bilt Points, keep an eye on Rent Day offerings. Past promotions have offered transfer bonuses of over 100% for top-tier Bilt elite status members.
If you have your eye on a specific award and your travel plans are flexible, playing the long game can help you squeeze more value from your points.
Let's say you're interested in booking a trip to Spain, and you apply for the American Express Platinum Card® for its transfer partners and welcome bonus. New cardholders may be eligible for as high as 175,000 Membership Rewards® points, earned after spending $12,000 on eligible purchases on the new card in the first six months of membership (welcome offers vary, and you may not be eligible for an offer).
If you qualify for the Amex Platinum's highest bonus, you'll receive a total of 187,000 American Express Membership Rewards® Points — including the rewards you'll earn from spending to meet the welcome bonus, or at least 12,000 points. That's a return of nearly 16X+ points from meeting the minimum spending.
The American Express Platinum Card® is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned)
- Access to 1,550+ airport lounges, including Priority Pass™ lounges (enrollment required) and Amex Centurion lounges
- Statement credit offers worth up to twice what the annual fee costs
- Elite status perks for hotels and rental cars (Enrollment required for select benefits mentioned)
- High annual fee
- Many statement credit offers are complicated and are earned in increments or limited to specific purchases
- Not as rewarding for purchases as other lower-fee travel cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 175,000 Membership Rewards® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.
- With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection, over $850 of annual value, with access to Centurion Lounges, 10 Delta Sky Club visits (subject to visit limitations) when flying on an eligible Delta flight, Priority Pass™ membership (enrollment required), and other select partner lounges. *As of 01/2026
- $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
- $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
- $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.
- $400 Resy Credit + Platinum Nights™ by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card® to pay for eligible purchases with Resy, including dining purchases at over 10,000 qualifying U.S. Resy restaurants. Enrollment required. As a Platinum Card® Member you have special access to reservations on select nights at participating sought after Resy restaurants in select cities through Platinum Nights™ by Resy. Simply add your Platinum Card® to your Resy profile to book your reservation.
- $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- Start your vacation sooner and keep it going longer. When you book Fine Hotels + Resorts® through American Express Travel®, enjoy noon check-in, when available, and guaranteed 4PM late check-out.
- $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That's up to $300 in statement credits each calendar year. Enrollment required.
- $155 Walmart+ Credit: Get up to a $12.95* statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Platinum Card®. *Up to $12.95 plus applicable taxes on one membership fee.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- $895 annual fee.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
N/A
Foreign transaction fee
None
Spanish airline Iberia charges 40,500 points for a one-way, off-peak business-class award flight from a handful of U.S. cities to Spain, and Membership Rewards® Points transfer 1:1 to Iberia Club. That means you could book five of these flights — but if you were hoping for three round-trip tickets to take your family to Spain, you'd be out of luck.
In the last few years, American Express has offered a 30% transfer bonus to airlines that participate in the Avios program, such as British Airways, Aer Lingus and Iberia; you can move points freely between these airlines. The most recent Amex transfer bonus to these airlines was 30%, which means you could end up with 243,100 Avios points if you transferred all 187,000 of your Amex points. That's just enough for three round-trip, off-peak business-class awards.
While it's rare to find three business-class awards on the same flight, these flights can easily cost $5,000+ round-trip, making the value of a transfer bonus all the more apparent.
When waiting doesn't make sense
Just like the cash in your bank account, your points and miles are subject to price inflation and other devaluations. The resort you were hoping to book could get bumped into a higher category, or an airline or hotel program might increase prices across the board. If that doesn't happen, your travel rewards program could drop the transfer partner you had your eye on or decrease the transfer ratio.
If your travel plans aren't flexible, waiting can be costly, as the best hotel and airline awards may disappear. When you need to travel on a school break to fit your kid's schedule, waiting for an increased welcome offer or transfer bonus could mean missing out on the cheapest awards or not being able to use your points at all.
Sometimes, having rewards in your account early and using them right away is more useful and valuable than waiting to squeeze every last cent out of your travel credit card.
For example, the Chase Sapphire Reserve currently has a welcome bonus worth 100,000 points after spending $6,000 in the first three months from account opening — but it just recently featured an offer as high as 100,000 points.
Waiting for the card's higher bonus offer to return (if ever) could dramatically increase your return, especially since you're only allowed to earn its welcome bonus once per lifetime. However, 100,000 points right now might be more valuable than waiting for a higher offer and finding out your preferred flights sold out.
The Chase Sapphire Reserve® is a standout premium credit card with luxury perks including, hotel credits, complimentary hotel elite status, travel credits, dining credits, rideshare and delivery benefits and much more.
- Access Priority Pass lounges, including unlimited access to Chase Sapphire Lounge® by The Club locations.
- Up to $300 in annual travel credit each account anniversary year
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Top-tier travel and shopping protections
- High annual fee
- Requires a high credit score
- Complicated list of benefits
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 $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
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For rates and fees of the American Express Platinum Card®, click here.
