December is the best time of the year to get a new credit card

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There are a lot of great things about December, including decorations, giving and making presents and getting a new credit card, of course!

According to a report from Business Insider, this is the time of the year where some of the most important credit card companies offer opportunities to maximize the bonuses on your rewards credit cards, but also include several new offers.

Bonuses have their requirements as well

In order to earn bonuses, it is required to spend a specific amount of money in the first few months – usually three. However, let’s not forget about the minimum spending requirement for the bonus, which means that the best time to open a new credit card is actually when you know that you will be able to spend the required amount within the time limit. And what better time to do it than around Christmas?

According to a poll conducted in 2015, the average American spends an average of $830 each year, on holiday gifts. But let’s not forget about everyday spending and holiday travel, so you will easily be able to reach the required amount, in order to get your rewards. However, make sure you keep an eye on those nasty credit card charges.

What to choose?

Of course, we shouldn’t ignore the fact that the offer is very big, so it’s actually pretty hard to decide upon a new credit card. After all, there are options for everyone, no matter if you’re new to this entire reward system or already a pro.

Most people claim that one of the best rewards programs is Chase Ultimate Rewards. But once again, it’s up to you to decide which one of these programs works best for you, after analyzing each offer.

First of all, there’s Chase Freedom Unlimited, which includes a $150 sign-up bonus, if you manage to spend $500 in the first three months, while the annual fee is $0.

Then, we have Chase Sapphire Preferred, offering 50,000 Ultimate Rewards points for anybody who spends $4,000 in the first three months. The annual fee is $95, waived in the first year.

Last but not least, we have Chase Sapphire Reserve, offering the same advantages at first and with an annual fee of $450. However, it’s actually an improved version of Chase Sapphire Preferred, due to the way points are earned.

Which credit card are you planning to open this month?

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