Coronavirus: Card issuers extending sign-up bonus periods

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The Bank of America content was last updated on August 5, 2021.

As the COVID-19 pandemic is shifting cardholders’ spending habits, credit card issuers are adapting to assist consumers. One relief measure that has been getting traction is extending time periods to earn a sign-up bonus.

Currently, four credit card issuers offer introductory bonus extensions, including American Express, Bank of America, Chase and Citi, with Citi being the most recent issuer to join the trend. All four are offering an additional three months on qualifying bonuses. Capital One is also offering similar relief on a case-by-case basis.

American Express

American Express was the first issuer to announce leniency on introductory offers, giving cardholders an additional three months to earn a welcome bonus. Accounts eligible for the extension include personal and business cards offering a welcome bonus approved between Dec. 1, 2019, and May 31, 2020.

As you can see in the table below, the standard time period to earn a welcome bonus with American Express is three months. With the additional three months, cardholders will have six months in total to hit the spending requirements.

American Express card welcome bonuses

Bank of America

Bank of America announced to cardholders that it would be offering an additional 90 days to earn a sign-up bonus on eligible accounts. New card accounts opened between Jan. 1, 2020, and March 31, 2020, are eligible for the extension. Both personal and small business card account holders can take advantage of the offer.

As you can see below, Bank of America typically gives its cardholders 90 days to earn an intro bonus. This means that with the extension, they have 180 days in total to meet the spend requirements.

Bank of America introductory bonuses

Chase

Chase is giving its cardholders an additional three months to earn a sign-up bonus. You can take advantage of this offer if you’ve opened an eligible account between Jan. 1, 2020, and March 31, 2020.

In the table below, you can find Chase credit cards with their respective sign-up bonus spend requirements. As you can see, Chase normally offers three months to hit the bonus. With the extension, cardholders are getting six months in total.

Chase card introductory bonuses

Capital One

Capital One is offering similar relief to cardholders impacted by the coronavirus on a case-by-case basis. To discuss your options, contact the issuer directly.

“Our offerings vary based on customer need and we encourage customers who may be impacted to reach out so we can discuss and help find a solution,” Capital One said in a statement.

Citi

Citi announced that new cardholders who applied for a Citi credit card between Dec. 1, 2019, and May 31, 2020, will get an additional three months to meet the sign-up bonus spend requirements.

As you can see in the table below, Citi typically gives new cardholders three months from the time of approval to earn the bonus. With the new offer, that timeframe is extended to six months.

Citi card introductory bonuses

Bottom line

A sign-up bonus is one of the best opportunities for a credit card user to rack up a large amount of rewards in a short time frame. Since many cardholders might not be spending as much as they were before the outbreak, an extension can help them to still use that opportunity.

Getting a sign-up bonus is essential to maximizing your credit card’s value. If you’re worried that the pandemic may prevent you from earning it, your issuer can help you.

Even if your credit card company isn’t on this list, it may help to contact the issuer directly. While some issuers have announced their move to extend sign-up bonus periods, others might be willing to extend a similar offer to you personally.

In these challenging times, it’s a good idea to stay in touch with your financial institutions and voice your concerns – most of the time, your creditors will be willing to work with you on a solution.

*Information about the American Express Green Card, The Business Green Rewards Card from American Express, American Express Cash Magnet Card and the Citi / AAdvantage Platinum Select World Elite Mastercard has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.