One of the common enticements of these credit cards is a sign-up bonus. This generally comes in the form of extra miles earned for charging a certain amount on your card within the first few months. The average value of the bonus is $400, the ValuePenguin study found.
To get the perk, however, the average amount you have to spend is $1,388, according to ValuePenguin. Some of the cards require you to spend far more — $3,000 or $5,000 — in a three-month window to earn the bonus.
“After that point, we recommend looking at whether these cards are worth it,” Peterson said. “They’ll be much more expensive [due to an annual fee] than the average cash-back card.”
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