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Coronavirus: Ultimate guide to limited-time credit card offers and promotions

From statement credits to temporary redemption options, these credit card issuers are finding new ways to support their customers

Summary

As the coronavirus has been affecting consumers’ spending habits, some credit cards issuers have launched limited-time offers to adjust to their needs. Here’s a list of all such promotions that are currently running.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

The COVID-19 outbreak has created a lot of turmoil for financial institutions, businesses and consumers alike. To respond to a shift in spending patterns and assist customers, many credit card issuers have taken various measures, including deferring payments and providing other types of relief.

Some issuers have also launched limited time promotions on their rewards cards to allow their customers to earn and use rewards according to their new spending habits.

To help you navigate all the available offers credit card issuers launch to help you through this crisis, we’ve compiled an ongoing list that can help you stay informed. By using these offers, you can ensure your rewards credit card provides the maximum value even in these challenging times.

Issuers offering limited time promotions amid coronavirus

American Express

When it comes to assisting cardmembers during the outbreak, American Express has been staying ahead of the curve. Besides supporting customers through the Financial Relief Program, Amex has come up with limited time benefits and promotions to help cardmembers make the most of their cards. That includes statement credits on the things they need the most, rewards on the purchases consumers are making right now and extra time to earn a welcome bonus.

Statement and travel credits

  • From Aug. 1, 2020, through Dec. 31, 2021, earn a $200 travel credit on The Platinum Card® from American Express when you make an eligible purchase through American Express Travel. The offer will be available to cardholders who renew their card between April 1, 2020, and Dec. 31, 2020.
  • Get up to $320 in statement credits when using the Platinum Card or The Business Platinum Card® from American Express on select streaming and wireless telephone services purchased directly from U.S. service providers, up to $20 per month on each. Offer ends Dec. 31, 2020.
  • Get up to $80 in statement credits when using the American Express® Green Card to pay for wireless telephone services purchased directly from U.S. service providers, up to $10 per month. Offer ends Dec. 31, 2020.
  • Get up to $200 in additional statement credits with the American Express Business Platinum for U.S. purchases with Dell – $100 in additional statement credits from May 1 through June 30, 2020, and up to $100 in additional statement credits between July 1 and Dec. 31, 2020.

Bonus rewards

Other promotions

American Express consumer and corporate cardholders can get a free year of Calm Premium ($69.99 value), plus half of the following year upon automatic renewal. The offer is available to cardmembers who don’t currently have an active Calm Premium subscription and ends on Oct. 31, 2020.

Bank of America

Besides offering payment deferrals, Bank of America is also giving its customers more time to earn a sign-up bonus, as well as limited-time redemption options and statement credits.

Statement and travel credits

Bank of America® Premium Rewards® credit card* holders will receive a $50 statement credit to offset dining and grocery purchases through Dec. 31, 2020.

“Day-to-day life may be a little different right now, so we’re giving you a new way to make the most of your Premium Rewards® card,” said Bank of America in an email sent to cardholders. “You’re now eligible to receive up to $50 as a statement credit on any combination of these qualifying purchases: grocery store, dining and takeout.”

Limited time redemption options

Bank of America® Travel Rewards credit card* and Bank of America® Business Advantage Travel Rewards World Mastercard® credit card* holders can now redeem points toward grocery, dining and takeout through Dec. 31, 2020, including purchases in these categories made within the past 12 months.

Capital One

Unlike other issuers that focused on helping members keep earning rewards, Capital One decided to allow consumers to redeem their rewards in some of the most popular spending categories during the pandemic. Later, the issuer has also added a limited-time option to earn cash back on streaming services to two of its cards.

Bonus rewards

Limited time redemption options

Chase

Chase has taken multiple steps to ensure its offerings are adjusted to cardholders’ evolving needs. Besides launching a credit card relief program, the issuer is temporarily offering a statement credit to help cardholders cover their annual fee and an intro bonus period extension.

Statement and travel credits

Sapphire Reserve cardholders whose cards have a renewal date between April 1 and July 1, 2020, will receive a $100 statement credit to help them cover the annual fee. (Note, cardholders with a renewal date between Aug. 1 and Dec. 31, 2020 will only be charged a $450 annual fee, instead of receiving the credit.)

On top of that, from June 1, 2020, through June 30, 2021, gas and grocery store purchases on Chase Sapphire Reserve will automatically count toward the $300 travel credit. All Sapphire cardmembers will also receive up to $50 in statement credits towards an Instacart Express membership (annual or monthly).

Limited time redemption options

Chase United cardholders can now redeem United miles towards the annual membership fee on Chase United cards.

Additionally, starting May 31, 2020, Sapphire cardmembers will be able to redeem points as a statement credit for groceries, dining (including takeout and delivery services) and home improvement store purchases using the new Pay Yourself Back tool. Through April 31, 2021, the rewards rate for Sapphire Reserve cardholders in these categories will be at 1.5 cents per point and 1.25 cents per point for Sapphire Preferred users.

Cardholders with the Ink Business Preferred℠ Credit Card and Ink Business Plus (now retired) can redeem points at a 1.25 cent per point value on select online advertising and shipping expenses through Dec. 31.

Citi

Citi cardholders who have been affected by the coronavirus pandemic can request assistance, such as waived payments and late fees. They can also spend their travel credit on essentials and food.

Bonus rewards

For a limited time, Citi Prestige® cardholders can earn 5X miles on online, cable and streaming purchases. This offer is available through Dec. 31, 2020, and comes with a cap of 7,500 additional points.

Limited time redemption options

Citi is also offering a new temporary point redemption option for cardholders by providing them the choice to redeem cash rewards as well as ThankYou Points to pay their minimum due.

The option is available through Nov. 11, 2020. You can check if you’re eligible by logging into your Citi mobile app or online account and looking for COVID-19 relief options on the “Rewards Details” section. Alternatively, you can call the servicing number found on the back of your card.

Statement and travel credits

Citi Prestige cardholders can now use their annual $250 travel credit on supermarkets and restaurants through the end of 2020. Wholesales clubs and superstores are not included in this promotion, but it may cover grocery delivery services, as well as restaurant delivery services such as DoorDash and GrubHub.

Discover

As COVID-19 is changing what travel looks like now and in the future, Discover has announced a permanent change to its travel credit card that offers cardmembers more flexibility, value and ways to redeem rewards.

“The pandemic has transformed the way customers travel and we are making changes to our travel credit card to reflect that,” said Meera Sridharan, Vice President of Rewards and Product Strategy at Discover. “Discover it® Miles card has expanded redemption categories to be more relevant to customers who are rethinking ways to travel while continuing to provide a simple way to earn rewards on every purchase.”

New redemption options

Discover it Miles cardholders can now redeem their miles as a statement credit toward purchases at restaurants and gas stations. Customers can also redeem those miles for Cash or at checkout at Amazon.com or with PayPal to cover costs beyond traditional travel categories.

The expanded travel credit will be applied to all transactions posted on or after June 9, 2020.

U.S. Bank

U.S. Bank is helping its cardholders to make the most out of their premium cards in the pandemic by offering bonus rewards and new ways to earn travel credit.

Bonus rewards

U.S. Bank Altitude™ Reserve Visa Infinite® Card holders will earn 3 points on dining purchases, including takeout and delivery, through the end of the year.

Statement and travel credits

Dining, takeout, and food delivery purchases on Altitude Reserve will count towards the $325 annual travel credit through Dec. 31, 2020.

Final thoughts

The COVID-19 outbreak has taken a toll on many consumers’ financial health. If you’re unsure if your credit card is worth keeping during this time, your issuer may be able to help you. Even if you haven’t found any special offers for your card on this list, contact your bank and see if it can offer a more personalized solution.

*All information about the Capital One Spark Miles for Business and Capital One Spark Miles Select for Business, Capital One Savor Cash Rewards Credit Card, as well as  Bank of America Travel Rewards credit card,  Bank of America Business Advantage Travel Rewards World Mastercard credit card and Bank of America Premium Rewards credit card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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Credit Card Rate Report Updated: October 21st, 2020
Business
13.91%
Airline
15.50%
Cash Back
15.85%
Reward
15.75%
Student
16.12%

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