Each month, I recap the best credit card offers currently available. There are a lot of credit cards out there offering generous signup bonuses. Some bonuses are better than others. Hopefully, this post will give you some ideas if you’re looking for your next credit card.
It’s important to note that this post is not intended to be an exhaustive list and there may be cards that I haven’t listed that are better for you. If you want personalized advice for your situation, consider filling out my free credit card consultation form and I’ll get back to you with specific advice for your situation.
Before you get started, be sure you understand the Chase 5/24 Rule. This is an important rule that will impact your long-term strategy when it comes to credit card rewards. Also, if you have a side hustle or anything that can qualify as a business, consider taking advantage of business credit cards. These are a great way to earn even more points and miles.
With all that said, here are the current best credit card offers for October 2021:
Chase Sapphire Preferred
The Chase Sapphire Preferred was offering 100,000 Chase Ultimate Rewards points after spending $4,000 in 3 months. This made the Chase Sapphire Preferred the number one card to get. Unfortunately, the public offer on this card ended on October 6th. It was possible to get this offer through a referral link, but that has also stopped working. Right now, the data points suggest that you can still get this offer if you apply for it in-branch, but your mileage may vary.
If you’re thinking about getting the Chase Sapphire Preferred, you’ll need to remember a few rules. The first is the Chase 5/24 rule, which states that you are not eligible for a new Chase credit card if you’ve opened five (5) or more credit cards in the past 24 months from any bank. This only includes cards that appear on your credit report, so most business cards won’t count towards your 5/24 number. I have an in-depth post that explains how the Chase 5/24 Rule works that you can read here.
The second rule you need to know is the Chase One Sapphire Rule. Chase only allows you to earn the bonus on one Sapphire branded card every 48 months. Thus, if you’ve earned the bonus on either the Chase Sapphire Preferred or the Chase Sapphire Reserve in the last 48 months, you won’t be eligible for this bonus.
The 100,000 Chase Ultimate Rewards points are worth a minimum of $1,250 if redeemed in the Chase travel portal. Note that the card does come with a $95 annual fee that is not waived in the first year, but the annual fee is easily covered by the signup bonus. After a year, you can product change your card to a Chase Sapphire Reserve, assuming you want the benefits that come with the Chase Sapphire Reserve or if you don’t need the card, then product change to a no-fee card like the Chase Freedom or Chase Freedom Flex.
American Express Platinum Card
The American Express Platinum Card is offering 125,000 Membership Rewards points after spending $6,000 in 6 months. This is currently the best American Express card offer available. The card is also offering 15x points on small business and restaurant spending, which gives a lot of opportunities to earn more points. In theory, you could earn up to 375,000 Membership Rewards points if you could max out the 15x categories.
You can only get this offer via Resy, which is a restaurant reservation company owned by American Express. Here’s the link for the Resy American Express Platinum offer. This isn’t an affiliate link, so I don’t get anything from recommending this card.
The one downside to this offer is that the American Express Platinum Card comes with a hefty $695 annual fee. The value of the points plus the credits that come with the card more than make up for the annual fee in the first year, but I know it can be daunting for many people when you see a fee like that. Make sure to do your research to understand how to get the full value of this card. After the Chase Sapphire Prefered, this is the card I’d recommend getting.
Chase Business Cards (75k Offers)
At the beginning of the pandemic, Chase tightened up their business card applications, making it essentially impossible to open a new business card. Since then, Chase has loosened these restrictions, making it possible for most people with a side hustle or business to open a Chase business card. I recently opened a new Chase Ink Unlimited card after a year of staying away from Chase business cards.
The Chase Ink Cash and the Chase Ink Unlimited are both offering 75,000 Chase Ultimate Reward points after spending $7,500 within the first three months. These cards both have no annual fees. The $7,500 spending requirement is a bit steep, but if you have large expenses coming up or have some other way to hit the spending requirements, these two offers are very appealing (paying taxes is a great way to hit a large minimum spend requirement).
The Chase Ink Preferred has a 100,000 point signup bonus after spending $15,000 within the first three months. This is also an appealing offer, but of course, the $15,000 spending requirement is going to be out of reach for many people. It’s worth getting if you have some large expenses to pay, so consider planning this card around those expenses (think tax payments, home renovations, etc).
American Express Marriott Bonvoy Cards
Marriott has credit cards with both Chase and American Express. The American Express Marriott cards are currently offering all-time high signup offers.
The Bonvoy Brilliant Card is offering a 150k point sign-up bonus plus a free night certificate you can use for hotels up to 85k points per night.
The Bonvoy Business Card is currently offering 125k points plus 2 free night certificates you can use for hotels up to 50k points per night.
Of these two, I’d lean toward the Bonvoy Business Card simply because it doesn’t impact my 5/24 status.
More Credit Card Offers
For more credit card offers or to apply for any of the cards I discuss here, check out my best credit cards page, where you can check out more credit card offers and apply for cards not listed here.
If you have any questions, feel free to shoot me a message.