When is the best time to register a rewards credit card?
When is the Best Time to Register for a Rewards Credit Card? To attract customers, credit cards use rewards, but if you play the game correctly, and you can excel. The issuers offer exceptional registration bonuses, for certain times of the year. A new study by NerdWallet reveals that the best months to register various award credit cards are based on this offer.
The analysis is done on the limited pattern of popular credit card offerings to find out the best time for customers to take advantage of this offer. In general, it was found that customers lost a reward of $177 and travel points worth 15,338 by submitting a reward card at the wrong time.
The study also found that the best time for travel and flight credit cards, taking advantage of this offer was in November. For hotel cards, August gets the most offers. In general, the study found that the three most popular publishers for rewards – Chase, Citi, and American Express – offered the most deals in late summer and fall. The chart above shows the number of time-limited offers from each publisher based on the month.
The statistic of the best time to register a credit card.
This is how they explain their methodology:
In particular, verify internal time-limited bidding data by looking at travel sites like The Points Guy, Million Mile Secrets and One Mile at a Time, as well as certain publisher sites. Found at least two sources for each offer limited time to verify that they have the correct date of bidding. Ideal order data (47 days) was obtained from the analysis by CheapAir.
To calculate the average points or miles lost by submitting a card without a limited time offer, which takes the difference between the best card offers and regular offers and weighs them based on the popularity of the cards analyzed. It is done by multiplying the points by the weighted average value of the prizes of these cards to get the dollar amount.
It is important to remind you to use rwards credit card responsibly. Always pay off your balance fully and understand how registering for a new card will affect your credit.
If you take part in a travel prize game, make sure you know well some interesting offers about when you should register for a travel rewards card, depending on when you plan to travel. https://bit.ly/2v7bmZ4