How I will save over $2,500 by opening 3 new credit cards

When people look for ways to save more, they usually don’t think about getting a new credit card. But you can actually save a lot this way. Case in point: I recently opened three of the best credit cards in less than a month, and it’s going to save me thousands of dollars.

I do this by earning welcome offers on credit cards. If you have good credit, keep reading to find out exactly how you can take advantage of these bonus opportunities.

Use Welcome Offers to Earn Over $2,500

A welcome offer is a bonus you earn for opening a credit card and meeting certain requirements. With most cards, you must meet a spending requirement. For example, spend $500 with your new card in the first three months and you earn a $200 bonus. Or spend $6,000 in the first six months and earn 60,000 bonus points.

The cards I opened have the following welcome offers:

• Earn 120,000 bonus points (worth $1,500 in travel) when you spend $8,000 on purchases in the first three months.
• Earn 50,000 bonus points (worth $750 in travel) when you spend $4,500 on purchases in the first three months.
• Earn 40,000 bonus points (worth $400 in travel) when you spend $3,000 on purchases in the first six months.

That’s a total of $2,650 in travel rewards. I’ve already won one and I know I’ll have plenty of time to win the other two.

There are many welcome offers on credit cards now, and some are much better than others. I realize it can be difficult to find a card with a good bonus. To make things easier, explore our curated list of the best welcome credit card offers.

How to Make the Most of Credit Card Welcome Offers

Welcome offers may be one of the most valuable credit card benefits. But if you’re not careful, you could miss your card’s welcome offer entirely, or it could end up costing you money. Here are some tips to ensure you come out on top.

Choose a card with rewards you can use

As you saw above, I went there with three travel cards. Travel rewards cards tend to have bigger welcome offers, but their rewards can be harder to redeem. If you’re considering a travel card, check how points are redeemed to make sure you can use them. If you want to keep it simple, cash back cards are a safe choice.

Verify You Can Meet Spending Requirements

If you are unable to pay your next bills, it is best to choose another card. So if you normally spend $1,000 a month on your credit card, don’t get a card with a welcome offer that requires you to spend $4,000 in the first three months.

The exception is if you have a large one-time expense coming up. This was the case for me; I had major purchases to make, so I felt comfortable applying for multiple cards with separate spending requirements.

Keep track of your spending until you get the bonus

Some card issuers offer bonus trackers in your online account. These make it easier to track your progress. You can also track your spending manually using your credit card statements and online account balance. Note that only purchases count toward spending requirements; annual fees and balance transfers are not.

You can check how much you have left to spend to earn the bonus by contacting the card issuer. If you don’t receive confirmation once you think you’ve spent enough, contact customer service to see if you’ve met the requirements.

Don’t go into debt for a welcome offer

It’s not worth spending too much to get a welcome offer. You will have debt to pay off, and it will likely be expensive debt, since most credit cards have high interest rates. Even when you’re working on a welcome offer, you should pay off your credit card in full each month to avoid debt and interest charges.

You don’t need to go on an application spree like I did, but applying for a new credit card occasionally could be a smart move. Take some time to check what credit card offers are available every six to 12 months. You might find a card you like with a lucrative welcome bonus.