Credit card sign-up bonuses are becoming quite common and are one of the fastest and easiest ways to accrue a large amount of points. These bonuses work by encouraging you apply for a new credit card and giving you a stash of points if you spend a specific amount of money on that card within a certain period of time (usually 3-4 months). If you are starting from scratch, then sign up bonuses will certainly be a part of your initial points strategy.

Unfortunately, making the most of these bonuses isn’t always straightforward. Credit card companies are getting smarter and making you jump through more hoops to keep you from getting lots of points which cost them big bucks. There are still ways to come out ahead, though, and by utilizing some basic strategies you can ensure that that you build your point balance fast without leaving any benefits on the table.

Strategy #1 – Capitalize On Elevated Offers
Most credit cards offer an “evergreen” sign-up bonus, meaning a standard one that is offered almost all year round. Some cards, however, offer alternating sign-up bonuses where it could change from month to month. The key to being able to capitalize on elevated bonuses is first knowing what the standard offer is for any card. To do so, you should establish a baseline for the cards you are interested in and research their past offers. This will help you better gauge the deal being offered.

For example, if historically a card had various sign-up bonuses between 40k and 60k points but is currently offering a 70k bonus this month, then it’s probably a good deal and worth jumping on.

Most of the premium travel cards on the market that offer transferable points rarely increase their sign-up bonuses, but airline co-branded cards such as the Delta Skymiles cards offered through American Express or the Citibank American Airline Aadvantage cards fluctuate almost monthly. If you are trying to obtain one of these co-branded cards and the sign-up bonus seems low, just wait a month or two to apply; it will almost certainly increase.

Strategy #2 – Never Upgrade A Card When You Can Apply Fresh
Credit card companies are always trying to save their money and get you to spend more of yours. Because of this, they’ll often send you an invitation to “upgrade” your card to the next level and incentivize you with a small offer of 10-15k bonus points. That may seem like an okay deal at face value, but upgrading your card usually involves increasing your annual fee and giving up a ton of potential points.

What many people don’t realize is that instead of upgrading your card, you could just complete a new application for the new card and get the current sign-up bonus which is likely much higher (this must be a card you’ve never had before to be eligible).

Over the holidays, this exact thing happened to my stepmother. Amex sent her an offer to upgrade her Gold Delta Skymiles card to the Platinum version and receive 15k miles. After checking the Amex website, the current sign-up bonus at the time for the Platinum card was 75k miles. If she would have opted to upgrade, she’d lose out on 60k miles!

Strategy #3 – Always Look For Offers In “Anonymous Mode”
Credit card companies are getting quite sneaky. Like many other websites, they track your “cookies” and IP address to determine who you are. If you have ever logged in to the site from your phone or computer, it’s easy for them to identify you and “hide” certain offers.

They do this to try to give the best incentives to new customers as opposed to current ones because they think they already have your loyalty. That means when you’re browsing a credit card company’s current card offers you may not be seeing the best ones available.

Just recently, I was at a client’s house advising him on which new card he should get. When I searched for a specific card on my phone it was showing a 50k point bonus, but on his phone, it was only showing an offer for 35k. I couldn’t believe it.

The only way to combat this is to browse the credit card site in “anonymous mode.” That means you should use a browser that you have never used before to login or a browser that allows you to open a new tab in private mode. By searching this way, you’ll always get to see the best deals being offered at any given time.

Additionally, if you apply for a card while browsing anonymously, make sure not to login to your account while filling out the application (often you’ll be asked to do this to save time) or you may get an error message that reads “this offer is no longer available.”

Strategy #4 – Know The Rules And Make Them Work For You
Most sign-up bonuses have the same basic rules – spend x amount in x period of time and you’ll receive the points. However, different cards have different rules on what counts as qualified spending. Most cards won’t count the annual fee, any charges that get credited back, or cash transactions via online transfers. So, you’ll want to take a look at the fine print. The worst thing that could happen is that you end up short of your spend requirement and lose out on all those points.

The best way to set yourself up for success is to wait until you have some large bills or purchases coming up before applying for a new card with a sign-up bonus. Some great examples are home or car insurance premiums, expensive travel purchases, home updates, or new electronics. Also, keep in mind that many providers such as utility companies will let you pay for services in advance.

Conclusion
With sign-up bonuses being such a simple and effective way to earn a large stash of points quickly, it’s likely you’ll participate in at least 1 or 2 while building your point portfolio. However, with credit card companies cracking down, you need to know how to capitalize on these bonuses and ensure you follow the rules. By implementing these strategies, you’ll avoid any missteps and ensure that you’re flush with points in no time.