Credit Cards Offering 40,000 Bonus Miles for Sign-Up
One of the best ways to get ahead in the credit card rewards game is to catch one or more of the sign-up offers that card issuers continuously offer to attract new cardholders. These bonuses often come in the form of points, miles and cash back. Usually, they have certain requirements you must meet in order to earn the bonus. Some of the best bonus point offers can be worth hundreds of dollars, especially if you use the card for purchases you already plan on making and take some steps to make the rewards program work for you.
When it comes to the best bonus miles and points offers, many start in the tens of thousands, specifically around 40,000 miles or points. Because the standard value for travel rewards points and miles is one cent per mile or point, a 40,000-point bonus is usually worth at least $400. The types of cards you will most likely catch a 40,000 bonus points bonus can vary from airline rewards cards to hotel rewards, and other types of travel-friendly credit cards. If you’re looking for the best 40,000 miles or points for sign-up bonuses, here’s everything you should know.
Cards with 40,000-Point Sign-up Offers
Capital One® Venture® Rewards
Another highly popular general travel rewards card is the Capital One® Venture® Rewards Card. New cardholders can earn 40,000 bonus miles after spending $3,000 in 3 months of approval. These miles can be worth $400 in travel statement credits for purchases including airfare, hotel and motel stays, car rentals, vacation rentals, and many other travel expenses.
The Platinum Card® from American Express
This card is considered one of the most elite travel rewards cards and comes with a broad variety of travel rewards and convenient perks. As a new cardholder, you can earn 40,000 points after spending $3,000 in the first 3 months of opening the account.
You can redeem these points for travel reservations, gift cards, and other products and services. Each point is generally worth about one cent, depending on how you choose to redeem them. The points can also be transferred to airline partners for free or discounted flights.
Citi® Hilton Honors™ Visa Signature®
For travelers who frequent any of the Hilton brand hotel properties, the bonus of thousands of Honors™ points, can be worth hundreds of dollars in hotel stays at Hilton properties. These properties include Hampton Inns, Doubletree Hotels, Embassy Suites, and Waldorf-Astoria, which gives you thousands of places you can redeem your points. Category 1 properties start at 5,000 points, and you can also redeem your points for room upgrades, car rentals, or gift cards.
Wells Fargo Propel American Express® Card
This card also awards 40,000 bonus points after spending $3,000 in the first 3 months. Each point is worth approximately one cent, and you can redeem at 2,500 points for a $25 gift card, or for travel purchases like airline tickets, hotels, car rentals, and cruises. If you have a Wells Fargo Checking or Savings account, you can also earn a 10% relationship bonus on the points you earn and redeem with the card.
Frontier Airlines World MasterCard®
Travelers who prefer economical options when they fly, can not only get affordable flights with Frontier Airlines, but as a new cardmember, you can also earn 40,000 bonus miles after making just $500 in purchases in the first 90 days of account opening.
You can redeem your miles for award flights with Frontier Airlines, which are available at 10,000 miles for a one-way domestic flight, or 20,000 miles for a domestic round-trip flight. Depending on where you fly, this bonus can be worth two domestic round-trip flights. You can also redeem your miles for hotel stays or car rentals, and there are options to transfer your miles to other loyalty programs.
Ways to Meet the Spending Requirements Fast
You might find yourself in a situation where you have a flight coming up or a vacation planned right away where these bonus miles will come in handy, and you need to earn them quickly.
For the most part, the cards give you at least 3 months to meet these requirements, so you have a chance to plan your spending and get your bonus right away.
However, this doesn’t mean just making a large purchase to get the points. If you are spending just to get the bonus, instead of using the card on purchases you need to make anyway, you won’t get the most value out of your card. Here are some other tips for meeting the spending requirements fast.
- Wait to sign-up for the card until you have big purchases to make. These bonuses change often, but you likely won’t lose out on anything if you wait a few months before signing up. If you have a big purchase, such as holiday spending, a family vacation, or home improvement expenses, wait until then to get the new card.
- Double your points or miles. Most travel rewards credit cards also award bonus points or miles for specific purchases like hotel stays or airline tickets. If you plan your spending to include the purchases that the card awards double or triple points for, you can earn significantly more rewards.
- Purchase gift cards that don’t expire. Another way that you can meet your spending requirement quickly is by using the card to purchase gift cards that don’t expire. This allows you to not only buy gift cards with retailers or restaurants that you know you will use in the future, but you can also keep these gift cards on hand to give as gifts to friends and family members. There are even gift cards for groceries, gas, and other day-to-day purchases that you’re guaranteed to use at some time.
- Use your card for friends and family members. You may not have a big purchase that you need to make right away, but there’s a good chance your friends, co-workers, or family members might. They might be willing to help you earn your sign-up bonus by letting you use your card to make their purchase, and then reimburse you with cash. With sign-up bonuses that can be worth $400 or more, it’s worth checking every option to make sure you earn the bonus.
What If You Don’t Meet the Spending Requirements
It’s important when searching for the best sign-up bonuses that you are particularly aware of the spending requirements.
Most credit card issuers clearly state in the fine print that if you don’t meet the requirements, you won’t earn the 40,000 bonus miles that are offered. This also means being careful about what the bank considers a purchase if there is a specific purchase amount you must meet.
For instance, some cards might let you include a balance transfer in your total; others might not. Make sure you are clear about the requirements and plan your spending to ensure you earn any bonuses.
Credit Card Bonuses and Taxes
Because of the tremendous value that you can get from credit card sign-up bonuses, consumers often wonder if they’ll end up paying more for the rewards when it comes to taxes.
Although you generally pay taxes on sign-up bonuses for savings and checking accounts, credit card bonuses and rewards are contingent on your spending and viewed as rebates. Fortunately, this means you don’t pay taxes on the credit card sign-up bonuses, whether you get miles, points, or cash back, and even if the bonus ends up being worth hundreds of dollars.