5 Reasons to Apply for a Credit Card When It’s on Promo

Even though you can apply for a credit card anytime, thanks especially to the many online application opportunities available to you, arguably the best time to do it is when the card is on promo. During this period, credit card issuers offer a wide range of perks that not only provide cardholders with significant savings but also make their credit card usage more rewarding and enjoyable.

Maximize Rewards: 5 Benefits of Credit Card Promotions

These institutions don’t always hold credit card promos all year round, so you might have to wait until the next opportunity arises. The long wait may tempt you to apply for a credit card during the regular season, but just remember: if you remain patient and your timing is right, you can take advantage of the following benefits that typically come with a new credit card during a promotional period:

1) Welcome Bonuses

Welcome bonuses are designed to incentivize new cardholders to sign up. These bonuses typically reward users with a lump sum of points, miles, or cash back after they spend a certain amount within the first few months of opening the account.

For instance, a credit card might reward you with 30,000 miles after spending PHP 40,000 in the first three months. Once you hit your goal, you can use the reward immediately, which can be extremely beneficial if you travel frequently. Due to bonuses like these, you’ll be encouraged to reach the required threshold without overspending, thus allowing you to quickly maximize the value of the credit card.

2) Higher Cashback Rates

Another perk credit card companies offer during a promo is the opportunity to score higher cashback rates on purchases and experiences. During promotional periods, issuers may temporarily increase the cashback percentage on certain categories, such as groceries, gas, or dining out. For example, a card that typically offers 1.5% cashback might raise this rate to 5% for specific categories for a limited time. This increase can significantly impact your rewards generation, especially if you frequently spend in these categories.

Depending on the type of credit card you’re getting, you might need to meet certain other requirements before you can apply. To be eligible for the Landers Cashback Everywhere Credit Card by Maya, as well as a credit card promo that allows for discounted membership while joining the card’s waitlist, you need to complete the application on the Maya app and undergo a credit evaluation. If your application is ultimately approved and you’ve activated your card, you can enjoy up to 5% cashback on all items purchased at Landers, 2% cashback on all dining spends, and 1% cashback on other qualified purchases.

3) Waived Fees for the First Year

A lot of credit cards come with an annual fee, and depending on their benefits and features, the fee can range from a modest amount to several thousand pesos. When card issuers hold promos, however, they can waive this fee for new cardholders.

As a result, if you’ve been successful at signing up, you can explore the card’s rewards structure, customer service, and additional benefits like travel insurance or purchase protection without incurring extra costs. This offer is particularly useful if you’re cautious about trying a new credit card, as it gives you the chance to assess the card’s value before committing.

4) Interest-Free Installment Plans

Credit card promos that offer interest-free installment plans allow you to make large purchases and pay them off over a set period without incurring interest charges. The period often ranges from 6 to 24 months, and as such, it will give you the perfect opportunity to make significant purchases for appliances, furniture, or electronics—and not worry about the burden of interest while you’re doing so.

This promo also gives you a structured repayment option that helps you avoid credit card debt while allowing you to maintain your cash flow. Opt for an interest-free installment plan and you can manage your budgets more effectively and spread out the cost of a purchase while still remaining on top of your finances.

5) Higher-Than-Usual Credit Limits

Lastly, credit cards with higher-than-usual credit limits can typically become available during promotional periods, as they serve as a means to attract consumers to apply. As the term implies, these cards offer users a larger credit limit than what cardholders would typically get in the regular season, which gives them more purchasing power right from the start.

With a larger credit limit, you can take advantage of the card’s rewards program more effectively. You’ll be able to use the card for larger expenses without reaching the limit too quickly or garnering a high utilization ratio. This can lead to enhanced rewards accumulation and a more rewarding credit card experience overall. Moreover, a higher credit limit can serve as a financial safety net during emergencies, allowing you to manage unexpected expenses without needing to resort to high-interest loans or cash advance options.

There are numerous advantages to applying for a credit card during a promotional period. To capitalize on these and to unlock rewards and perks that wouldn’t be available otherwise, make sure to get your timing right and sign up for your ideal credit card when it’s on promo.