A sign-up bonus is an excellent opportunity to maximize a credit card’s value – but it’s easy to miss now that many consumers have adjusted their spending. Luckily for some Chase cardholders, the issuer is giving them more time to earn the bonus.
As spending in multiple categories has fallen due to the economic consequences of the COVID-19 outbreak, many new cardholders may find it harder to meet spend requirements for a sign-up bonus on time.
Fortunately, credit card issuers take extra steps to accommodate consumers during these challenging times. For instance, in early April, American Express announced it was extending the period to earn a welcome bonus for new cardholders.
Following suit, Chase is now offering more time for new credit card customers to meet the spend threshold to earn their sign-up bonus. The bank will start notifying customers of the terms of this offer on April 14, 2020.
How will the extended offer work?
Chase is extending the time for cardmembers to earn their bonus by three months. The offer will be available to customers who opened an eligible account between Jan. 1, 2020, and March 31, 2020.
As you can see, normally the period to meet Chase’s sign-up bonus requirements is three months. With the new offer, cardholders will have a total of six months from their account opening date to earn their new account bonus.
Chase card introductory bonuses
|Chase Sapphire Preferred Card||60,000 bonus points after you spend $4,000 on purchases in first 3 months|
|Chase Sapphire Reserve||50,000 bonus points after you spend $4,000 in first 3 months|
|Chase Freedom*||$200 after you spend $500 in first 3 months|
|Chase Freedom Unlimited||$200 after you spend $500 in first 3 months|
|Southwest Rapid Rewards® Priority Credit Card||40,000 bonus points after you spend $1,000 in first 3 months|
|Southwest Rapid Rewards Plus Credit Card||40,000 bonus points after you spend $1,000 in first 3 months|
|Southwest Rapid Rewards Premier Credit Card||40,000 bonus points after you spend $1,000 in first 3 months|
|United Explorer Card||40,000 bonus miles after you spend $2,000 in first 3 months|
|Marriott Bonvoy Bold™ Credit Card||30,000 bonus points after you spend $1,000 in first 3 months|
|Marriott Bonvoy Boundless™ Credit Card||75,000 bonus points after you spend $3,000 in first 3 months|
According to Chase, there’s no action needed from the customer to activate the extension – it will be applied to their accounts automatically.
Should you take advantage of the new offer?
Getting a sign-up bonus is a unique opportunity to maximize your credit card’s value. If you’re a new Chase customer worried about not meeting the sign-up bonus requirements on time, the new offer may give you the chance you need.
On the other hand, hitting your bonus earlier will allow you to earn cash and those extra points quicker. While you might not be able to use the points on travel at the moment, with some Chase cards you can get a decent value redeeming points on other types of purchases.
See related: Best ways to use Chase Ultimate Rewards points
One way or another, earning an introductory bonus is essential to getting the most out of your credit card. With many credit card issuers taking measures to assist their customers during this time, we hope more will follow an example set by Amex and Chase and allow customers to earn the bonus – even if it might take them a little longer.
*Information about the Chase Freedom has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.