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Credit cards that want to pay you cash to sign-up

By , CardRatings contributor
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    Credit cards that want to pay you cash to sign-up

    If you've been getting weary from the cat-and-mouse games with credit card issuers, you'll be pleased to hear that you may finally have the upper hand--at least when it comes to these credit cards. These credit card issuers are so anxious for your business that they're willing to pay you to sign up for their cards.

    Sound too good to be true? Well, take a look at these two offers and see if they don't put a smile on your face.

    This card has a $0 annual fee and boasts a solid rewards program. Currently you can get a $150 bonus after spending $500 on purchases in your first three months from account opening. The downside of this card is that if you don't have excellent credit, you might get stuck with a high APR. Other attractive features include that you can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs. Unlimited 1% cash back on all other purchases.  

    #2: Chase Sapphire Preferred® Card

    With this card, you can earn 50,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards®. Yes, that's a lot of money to spend in three months and that's who this card is meant for -- big spenders who have an above average income. These purchases need to be "qualified transactions" and cash advances don't count.

     Note that if you use their toll-free number, you're charged a service fee. Book your ticket online to avoid this charge.

    The card carries a $95 annual fee, however there is a $0 intro for the first year. You need good to excellent credit for this card and the variable APR offered is about average for a rewards card. Another perk is the 24/7 access to dedicated customer service specialists.

    For all offers be sure to read the fine print before you apply to determine if this is the best offer for your needs.

    Now, there are two important things to note about all of these offers. First, these offers are for first-time cardholders and new accounts.

    Second, carefully read the terms and conditions for these offers when you get your card in the mail. Yes, the fine print is tiny and extremely boring, but if you don't read it, you might lose out on the bonus due to a technicality, otherwise known as "gotcha" language. The basics are online, but almost all of these issuers state that you'll receive more "details" in the mail. So read the stuff that shows up in your mailbox and you'll not only get your bonus, but also keep the upper hand.

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