Wouldn’t it be great to earn the same intro bonus several times with your favorite rewards cards? While it might be possible to do that with some credit card issuers, it’s not the best strategy for boosting your points or miles balance. At worst, the issuer will deny your application and you’ll take an unnecessary hit to your credit score. At best, you’ll probably have to wait years to get a second bonus.
You’re going to be better off applying for several cards in the same program and earning multiple intro bonuses that way. One great strategy that’s often overlooked by those who are not in the know is to apply for small business cards in addition to personal cards. You’d be surprised how easy it is to qualify for a business card, even if you don’t think you own a business.
Let’s take a closer look at Capital One, Chase, Citi, American Express and other issuers to see what the restrictions are and how you can maximize your bonuses in a short period of time with some excellent rewards cards.
Capital One – Get up to $1,700 in Welcome Bonuses
Capital One’s biggest restriction is that you have wait 6 months between applications. They won’t approve you for more than 1 card per 6 months.
Some of their cards have excellent bonuses, too. With either the Venture Miles and Spark Miles for Business cards, you’ll get a 50,000-mile bonus worth $500 in travel. You’ll also earn more at an impressive rate of 2 miles per dollar spent for all purchases. That’s equal to 2% cashback when converted to travel purchases.
Those miles are extremely flexible, too. You can use them
For straight cashback cards, Capital One offers the no-fee Quicksilver card that earns 1.5% back on all purchases. It comes with a solid $200 bonus. They also offer the excellent Spark Cash for Business. It comes with a big $500 cash back bonus and earn 2% back on all purchases.
If you get all four cards, you’ll get a total of $1,700 in intro bonuses!
I Don’t Have a Business: How Can I Apply for Business Cards?
Remember, just about anyone can qualify for a business card. All you need is independent income of any amount. That can include eBay or Etsy sales, among other things. Obviously small business owner and independent contractors qualify as well.
Citi – Get an AAdvantage Credit Card If You Don’t Want to Wait 18 Months
In order to get a second intro bonus for the same Citi-issued card, you have to cancel the card and wait 18 months before applying for it again. The catch is that you can’t open or close any Citibank credit card account that’s part of the same program during that time period.
That means you cannot get a new Citi ThankYou Prestige card if you’ve either received or canceled a ThankYou Premier or Preferred card during the previous 18 months. Thankfully, Citi considers the co-branded American Airlines cards it issues to be separate from its ThankYou cards, so you can get an AAdvantage and ThankYou card at the same time and receive both welcome bonuses.
All of the co-branded Citi / AAdvantage cards come with intro bonuses. You’ll get 60,000 miles with the AAdvantage Platinum Select or 25,000 miles with the AAdvantage Gold.
At the moment, credit cards in the Citi ThankYou lineup group are not offering any welcome bonuses.
The ThankYou Premier card currently has a 50,000-point bonus, but the Citi Preferred and Prestige cards don’t have a bonus. They have come with a welcome bonuses in the past, so if you’re interested in those cards, it’s worth keeping an eye on them to see if bonus is offered again.
American Express Has The Most Restrictive Bonus Rules – Once per Lifetime
Among the big reward card issuers, American Express has the most restrictive welcome bonus policy. Amex used to allow you to earn a second bonus if you waited 12 months before reapplying, but now you can earn only one intro bonus for each card they offer.
However, you can get a intro bonus for both the personal and business version of the same card.
While both versions of the Amex Platinum card are worth considering, the personal Platinum card currently comes with an impressive 60,000 intro bonus if you can meet the $5,000 minimum spend.
The Business Platinum card comes with the an even bigger bonus of 75,000 points. But you’ll have to spend a total of $20,000 in three months to earn the total bonus.
Both cards are packed with benefits and perks, like travel credits and lounge access, as well as a $550 annual fee for personal card and $595 annual fee for business version.
The EveryDay and EveryDay Preferred cards are both solid options too, even if they come with much smaller bonuses. You’ll get 10,000 points with the no-fee EveryDay card, and 15,000 points for the $95-a-year EveryDay Preferred. The Preferred card offers better bonus earning categories, giving you triple points for groceries and double points for gas.
There are six co-branded Delta cards issued by Amex: the Gold Delta SkyMiles, Platinum Delta SkyMiles and Delta Reserve, as well as the business versions of those three cards. The Gold and Platinum cards, which come with $0 intro fee, then $95 and $195 annual fees, respectively, have 30,000– to 35,000-mile welcome bonuses. The Reserve card, which includes Sky Club lounge access, has a smaller 40,000-mile bonus and a $450 price tag.
Chase – Get the Same Bonus Every Two Years
Of the three major issuers, Chase has some of the most lenient rules when it comes to earning multiple welcome bonuses with the same credit card. All you have to do is wait two years after getting the bonus—not from when you cancel the card—before applying again. That means you can keep the card for 24 months after getting the bonus, cancel it, and then immediately apply again.
It’s important to note that this restriction is by card lineup, not individual card. So you have to wait 24 months from the last time you received a bonus in a specific family of cards. For example, if you get a bonus for the Sapphire Preferred, you have to wait 24 months before you’re eligible for the Sapphire Reserve’s bonus.
That’s great, particularly if you like the benefits and features of the card you have. You won’t have to do without it for two years while waiting to get the bonus again.
Chase has several excellent offerings in its Ultimate Rewards program lineup. The recently introduced Chase Sapphire Reserve currently comes with a huge 50,000-point welcome bonus, a $300 annual travel credit and Priority Pass Select lounge access. If you use them, those benefits more than cover the $450 annual fee.
The Chase Sapphire Preferred is also an excellent choice, and it has a very manageable $95 annual fee that’s waived for the first year. It also comes with a 50,000-point intro bonus and earns double points for travel purchases and at restaurants.
Small business owners and independent contractors qualify to get the Chase Business Preferred card, which has a slightly bigger 60,000-point bonus and impressive quintuple earning for office supplies, telecommunications, internet and cable, as well as double points at gas stations and restaurants. The only drawback is that its $95 annual fee is not waived the first year.
Bank of America does not have a stated wait time between card applications, but you should probably wait at least 30 days between applications to increase your chances of getting a card.
Bank of America issues the Alaska Airlines Visa Signature card. While it comes with a solid 30,000-mile bonus, its most valuable benefit is the annual companion fare that allows you to take someone with you on a domestic round-trip flight operated by Alaska for only $99.