The best time of year for credit card offers is the fourth quarter of the year, October through December. During most years in the past decade, the average credit card bonus has been highest in the fourth quarter, and the second half of the year has historically been better than the first half. One reason why this could be the case is that the end of the year includes the holiday shopping season, so credit card companies want to entice people to spend more by offering lucrative initial bonuses, as well as introductory 0% APRs.
It's worth noting, though, that the general trend for credit card offers is to increase over time. For example, the average cash back credit card bonus increased by 266% between the fourth quarter of 2011 and the fourth quarter of 2021. That’s good news for people who like to take advantage of a great credit card deal each year.
Finally, remember that good credit card offers – whether for regular rewards, initial bonuses, 0% introductory APRs or supplemental perks – can appear at any time of the year. Issuers may be more likely to debut their best offers during the fourth quarter of the year, but many offers stick around for months or even years after they’re introduced.
This answer was first published on 11/09/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
The best time of year for credit card offers is the fourth quarter of the year, October through December. During most years in the past decade, the average credit card bonus has been highest in the fourth quarter, and the second half of the year has historically been better than the first half.
What time of year are credit card offers best? ›
If you're looking for the right time to submit a credit card application, towards the end of the year may be an exciting time to do so. Similar to when you use a new card for a big purchase, the advantages of having a credit card at the end of the year may rely on your holiday shopping.
When's the best time to apply for a credit card? ›
When you should apply for a new credit card
- You'd like to build your credit profile. ...
- You've been pre-approved. ...
- You've been referred. ...
- You want to earn a limited-time welcome offer. ...
- You're about to get a mortgage or other loan. ...
- You've got recent hard inquiries. ...
- Your finances aren't in good shape.
Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.
When should I buy my credit card? ›
Financial experts recommend young people start building credit as soon as possible. A good time to apply for a credit card is when you turn 18, since that's the minimum age requirement for opening your first card. College student credit cards are a smart choice for students looking to establish credit.
What are the best dates for credit cards? ›
With the 15/3 rule, you make two payments each statement period. You pay half the credit card balance 15 days before the due date and the second half three days before the due date. This method ensures that your credit utilization ratio stays lower over the duration of the statement period.
How many inquiries are too many? ›
Since hard inquiries affect your credit score and what is found may even affect approval, you might be wondering: How many inquiries is too many? The answer differs from lender to lender, but most consider six total inquiries on a report at one time to be too many to gain approval for an additional credit card or loan.
How often should you open a new credit card? ›
There's no hard and fast rule about how long to wait between credit card applications, but it is true that too many applications in too short of time can raise red flags for credit card issuers and may mean you get rejected. A good rule of thumb is to wait at least six months between applications.
Does it matter how many times you apply for a credit card? ›
Key takeaways. It's a good idea to have more than one credit card, but applying for multiple cards within a short period of time could hurt your credit score. If you apply for too many credit cards within a brief period, issuers might see you as risky borrower.
How many months should I wait to apply for another credit card? ›
It's a good idea to wait at least six months between credit card applications to protect your credit score and avoid exceeding certain card issuers' restrictions. Several applications submitted within a short time frame could damage your credit score for a period of time.
Credit card churning is the process of opening cards for the sole purpose of earning welcome bonuses or other benefits. Usually, it involves closing cards after the bonus posts to your account and before the next annual fee is charged.
What is the 2 year rule for Chase credit cards? ›
The 5/24 rule is an unofficial policy that dictates that Chase won't approve you for its cards if you've opened five or more personal credit card accounts from any issuer in the last 24 months. Put simply, the number of cards you've opened in the previous two years will affect your approval odds with Chase.
Does closing a credit card hurt your credit? ›
Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.
What time of year is best for credit card offers? ›
The best time of year for credit card offers is the fourth quarter of the year, October through December. During most years in the past decade, the average credit card bonus has been highest in the fourth quarter, and the second half of the year has historically been better than the first half.
What is a good credit score for my age? ›
What is a good credit score for your age? You might consider your score to be good if it meets or exceeds the average for your peers, but that isn't the best gauge. Following NerdWallet's general guidelines, a good credit score is within the 690 to 719 range on the standard 300-850 scale, regardless of age.
Is it good to have a credit card and not use it? ›
Not using a credit card isn't necessarily a bad thing. However, it can come with some unintended consequences. Although charging inactivity fees is no longer legal, issuers have other options at their disposal — some of which could affect your credit score, your available credit and more.
Is there a best time to pay off credit card? ›
Paying early also cuts interest
When possible, it's best to pay your credit card balance in full each month. Not only does that help ensure that you're spending within your means, but it also saves you on interest.
What day of the month do credit cards charge interest? ›
When you carry a balance on your credit card, most card companies charge you interest from your billing date until the time they receive your payment. Different credit card companies have different rules for when they charge interest.
How often do credit cards offer limit increase? ›
Typically, credit accounts that have been open for more than three months are eligible for an increase. Applications are commonly restricted to one every six months; however, the frequency and other parameters will vary by lender.
What month do most credit cards expire? ›
Credit cards usually expire anywhere from three to five years after being issued, depending on the card issuer. The expiration date will appear on your credit card in month/year format. For example, a credit card expiring in July 2025 would show “07/25.” The card remains active until the last day of the month listed.
