As the holiday season approaches, people might be thinking more about gift-giving than of taking out a new credit card. But November has been shown to be one of the best months for rewards on travel credit cards. This is because the largest sign-up bonuses are often available and also because signing up in November gives people enough time to gain points for the following summer.
There are many rewards when it comes to credit cards, but one of the best is the sign-up bonus. If consumers spend a certain amount within a given time frame they can get extra travel points or miles to redeem. A study has shown that November is the best time to get a co-branded airline or general credit card, with limited-time offers providing an average of $177 worth of extra free travel when compared to other months of the year.
Another study has found that it can take at least five months to receive a new credit card, use the bonus period and then book a holiday far enough in advance to get the best rate. This means that opening an account in November should give people enough time to save for their spring or summer vacation. Optimizing the bonus spending is also helped by the fact that people spend an of $935.58 over the holiday shopping season. Spending this on a limited-time offer credit card would be wise to build as many points as possible.
If you want more credit, check out MoneyTips' list of credit card offers.