ON THIS PAGE
- Why timing matters when applying for a credit card
- Why September may be a smart month to apply for a credit card
- Situations when you may not want to apply for a credit card in September
- How to maximize a new credit card if you apply in September
- Best credit cards to apply for in September
- Frequently asked questions
- The bottom line: Should you apply for a credit card in September?
There are a lot of theories that September is the best time to apply for a new credit card, at least for many cardholders. That said, spoiler alert: the best time is whenever it’s the best time for you, and the right timing for a credit card depends on your individual financial situation, goals, and needs.
Still, if you’re thinking of applying for a new credit card, here’s why you might want to consider doing it in or around September.
Why timing matters when applying for a credit card
Sure, you can apply for a credit card whenever you want, but it’s often wise to do so when you have a major purchase or significant spending on the horizon. Timing your application around such events can help you maximize benefits like welcome bonuses or take advantage of introductory offers.
For instance, maybe you’re eyeing a credit card with a welcome bonus that requires you to spend, say, $3,000 to earn it. If you’re planning to purchase a refrigerator, that could be an easy way to meet the spending requirement and earn a substantial cash back bonus, effectively lowering the cost of your appliance.
Alternatively, if your card offers a 0% APR introductory period, you could buy that $3,000 refrigerator and pay it off gradually without incurring interest charges during the promotional period.
Why September may be a smart month to apply for a credit card
September can be an excellent time to apply for a credit card, and maybe the best time, for the following reasons:
- The holidays are coming! (Yeah, already. Seriously, where does the time go?) September could be a terrific time to get a credit card to help you save money on holiday gifts. If you apply for a credit card with a 0% APR introductory period, or you’re going to get a big fat cash bonus for spending a small fortune, both scenarios could help you avoid overspending or going into too much debt.
- Credit card issuers know the holidays are coming. That is, many cards have rotating quarterly categories, and credit card issuers recognize that people like to start their holiday shopping in the fall. Some cards will offer rewards for shopping at online retailers or department stores at this time of year.
- You’re tapped out from summer vacations and back-to-school shopping. You may have just spent a fortune over the summer, and so now, a credit card might help restore some sanity to your cash flow.
- If you play your (credit) cards right, you could reduce next year’s summer vacation. If you apply for travel credit cards now, maybe this year’s holiday shopping could help pay for next year’s vacation. Travel credit cards can help you earn rewards for travel-related spending, which can be redeemed for flights, hotels, or other travel expenses. So, if you’re spending a lot on holiday gifts and accumulating miles, the money you’re spending now could translate into savings on airline tickets for vacations during spring break or next summer.
Situations when you may not want to apply for a credit card in September
So if you’ve been considering getting a new credit card and think, “September would be the best time to apply for a credit card,” remember that it’s not always the ideal choice for everyone.
Here are some situations when applying for a credit card in September might not be the best move for you.
You’re carrying a lot of credit card debt. Pretty obvious, but if you are starting to have trouble paying down your credit cards, this is not the time to get another one – unless you’re contemplating transferring high-interest debt from your existing cards to one that has low interest or, 0% for a period of time. In that case, a balance transfer credit card could help you consolidate debt by moving your existing balance from multiple cards into one account with a lower interest rate, but be sure to consider any balance transfer fee that may apply. Balance transfers can be a useful tool for managing debt, but always review the terms carefully.
You just got a new credit card. A lot of people have multiple credit cards, but if you just applied for one, you may want to hold off a bit. There is no great answer to the, “how long should I wait to apply for another credit card” question. That’s because all banks have different rules, and some may not care if you applied for a new credit card last week, but some will. Still, a general rule of thumb is that if you got a new credit card in July or August, you probably should not get yet another in September. Applying for multiple new accounts or credit cards within a short period can result in several hard inquiries on your credit report, which may lower your credit score by a few points.
➤ SEE MORE:What hurts your credit score?
You don’t have a plan for this new credit card. It’s always smart to think carefully about why you want a specific credit card. You might generally know that having another credit card could help improve your credit score by increasing your available credit and demonstrating to credit bureaus that you can manage credit responsibly. Responsible use is essential—make sure to handle your current credit card and any new credit card accounts with care by using them responsibly to maintain a strong credit profile and good credit history.
But what’s your plan for the card that you’re thinking of applying for? Are you trying to get more rewards and make your life less expensive? Such as applying for a credit card to make future vacations cheaper, or to get cash back on your grocery shopping? Does the card you’re looking at have an annual fee? Will you be using the card enough and saving enough to justify paying the fee? Lots of questions to consider.
If you take on a generic credit card with few perks and then come up with a plan and start thinking of all the amazing credit cards you could have applied for, you’ll start seeing why having a plan is so important.
Not that you can’t get another credit card, once you have another one in mind. But it’s always a good idea to know why you’re applying for a credit card, rather than just blindly applying to the first one that you see.
➤ SEE MORE:How many credit cards should you have?
How to maximize a new credit card if you apply in September
If you apply for a credit card in September and currently lack a plan for making the most of it, here’s a blueprint that you may want to follow.
Take advantage of the welcome bonus. Not all credit cards have them, but many of the best do. You may need to spend, say, $3,000 in the first three months to earn $250 in cash back, as an example. Obviously, going on some impulsive shopping trip and buying stuff you don’t need isn’t a great way to earn $250. But if you have grocery shopping to do, a cell phone bill to pay, clothes you’re going to buy, a visit to a doctor or your pet’s vet and so on – you could put those expenses on the credit card. If you pay everything off in full each month, and after three months, you have $250 (or whatever cash bonus you’re looking at), suddenly, you’re looking like a financial guru. You can maximize welcome bonuses and bonus rewards by timing your application and meeting the spending requirements within the specified timeframe.
➤ SEE MORE:How to earn a credit card welcome bonus
Take advantage of the 0% APR offer. If there is one. Not every credit card has a 0% APR introductory period, and again, if you don’t have anything to buy, don’t go spending money that you don’t need to. But if you do have a lot of holiday shopping or perhaps an expensive car repair, this could be a great time to spend money and take some time to pay it off, without being burdened by interest payments. During the set period of the 0% APR offer, you can avoid having to pay interest, but be aware that once the introductory period ends, the ongoing APR and standard interest rates will apply to any remaining balance.
Utilize those rewards. Some credit cards offer cash back when you shop at Amazon.com, department stores, or home improvement stores. Choosing a credit card that prioritizes shopping rewards over dining, grocery shopping, or travel can be a smart way to reduce your expenses as the holidays approach. By using your card for everyday purchases, you maximize your rewards and enjoy greater benefits.
Alternatively, you might prefer a credit card that offers cash back at grocery stores, helping you save on the substantial costs of Halloween candy, Thanksgiving meals, Christmas or Hanukkah dinners, and New Year’s Eve celebrations. Strategically using your credit card for these purchases allows you to earn cash back and make the most of your rewards program.
The holidays can be financially challenging, but having a clear plan for your credit card can help you manage some of these costs more effectively.
Best credit cards to apply for in September
To help you find the best credit cards that can make your fall and winter a bit easier, our top credit cards list highlights some of the most outstanding cards available, which could be ideal to apply for in September.
Frequently asked questions
Do credit card companies offer better bonuses in September?
In general, while good credit card deals can be found in September, the month itself doesn’t determine the best bonuses. Welcome bonuses vary throughout the year and often peak when consumer spending is strong. Regardless of the economy, credit card companies offer attractive bonuses to win your business.
How to apply for a credit card for the first time
Applying for a credit card is simple. If it’s your first time, focus on building your credit history and choosing a card that fits your spending and financial needs. After selecting a card, fill out the online application with basic info like your name and income. You’ll usually find out within minutes if you’re approved.
➤ SEE MORE:Best first credit cards
How long does it take to get a credit card?
Generally, you can get your digital credit card (as in, the number, date and security code) within moments of being accepted. It may take a week or more to receive a physical credit card in the mail.
When is the best time of year to apply for a new credit card?
The best time of year to apply for a new credit card is whenever you realize you need one. Timing can affect your approval odds and benefits, but some months stand out:
- January: Ideal for organizing finances
- May: Great for travel rewards or back-to-school shopping
- September: Perfect for holiday shopping prep
Of course, any month can be the right time if it fits your financial needs and goals.
The bottom line: Should you apply for a credit card in September?
While some argue that certain months are ideal for applying for a new credit card, September stands out as a great time to get a new card to help you manage holiday expenses. However, ultimately, the best time to apply for a new credit card is whenever it aligns with your personal financial goals and needs.
To see the rates and fees for the American Express cards featured in this post, please visit the following links: Blue Cash Preferred® Card from American Express (See Rates and Fees); Blue Cash Everyday® Card from American Express (See Rates and Fees)
