Coronavirus: Ultimate guide to limited-time credit card offers and promotions

The COVID-19 outbreak has created a lot of turmoil for financial institutions, businesses and consumers alike. To respond to a shift in spending patterns and assist customers, many credit card issuers have taken various measures, including deferring payments and providing other types of relief.

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Some issuers have also launched limited time promotions on their rewards cards to allow their customers to earn and use rewards according to their new spending habits.

To help you navigate all the available offers credit card issuers launch to help you through this crisis, we’ve compiled an ongoing list that can help you stay informed. By using these offers, you can ensure your rewards credit card provides the maximum value even in these challenging times.

Issuers offering limited time promotions amid coronavirus

  • American Express
  • Capital One
  • Chase
  • Citi
  • Discover

American Express

When it comes to assisting cardmembers during the outbreak, American Express has been staying ahead of the curve. Besides supporting customers through the Financial Relief Program, Amex has come up with limited time benefits and promotions to help cardmembers make the most of their cards. That includes statement credits on the things they need the most, rewards on the purchases consumers are making right now and extra time to earn a welcome bonus.

Statement and travel credits

  • From Aug. 1, 2020, through Dec. 31, 2021, earn a $200 travel credit on The Platinum Card® from American Express when you make an eligible purchase through American Express Travel. The offer will be available to cardholders who renew their card between April 1, 2020, and Dec. 31, 2020.

  • Get up to $30 PayPal statement credits every month when using the Platinum Card. The offer is valid through June 30, 2021.

Other promotions

American Express cardholders can also get access to a two-month free trial to obé fitness monthly membership through March 31, 2021. This offer is only available to new subscribers.

Capital One

Unlike other issuers that focused on helping members keep earning rewards, Capital One decided to allow consumers to redeem their rewards in some of the most popular spending categories during the pandemic. Later, the issuer has also added a limited-time option to earn cash back on streaming services to two of its cards.

Bonus rewards

  • Earn 4% cash back on eligible streaming services with your Capital One® Savor® Cash Rewards Credit Card*. Offer valid through April 30, 2021.
  • Earn 3% cash back on eligible streaming services with your Capital One SavorOne Cash Rewards Credit Card. Offer valid through April 30, 2021.
  • Earn 5% cash back on UberEats orders with Capital One® Savor® Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card. Offer valid through Jan. 31, 2021.

Limited time redemption options

  • Redeem your Ventures Miles from the Capital One Venture Rewards Credit Card and Capital One VentureOne Rewards Credit Card for eligible takeout, delivery and streaming services. Offer ends April 30, 2021.
  • Redeem your miles from the Capital One® Spark® Miles for Business* and Capital One® Spark® Miles Select for Business* for eligible takeout, delivery and phone services. Offer is valid until April 30, 2021.

Chase

Chase has taken multiple steps to ensure its offerings are adjusted to cardholders’ evolving needs. Besides launching a credit card relief program, the issuer is temporarily offering a statement credit to help cardholders cover their annual fee and an intro bonus period extension.

Bonus rewards

Chase is offering targeted spending bonuses through March 31, 2020 for some of its co-branded credit cards. Check your account to see if you’re targeted and activate the promotion.

Here are some of the bonuses as reported by Doctor of Credit:

Credit card Spending bonus
United Club℠ Infinite Card
  • 5 total miles per dollar on up to $1,500 in combined purchases at grocery stores, gas stations and drugstores
The World Of Hyatt Credit Card
  • 5,000 World of Hyatt bonus points when you spend $3,000 in purchases
IHG® Rewards Club Premier Credit Card
  • 5 total miles per dollar on up to $1,500 in combined purchases at grocery stores, gas stations and drugstores
Marriott Bonvoy Boundless™ Credit Card
  • 5 total miles per dollar on up to $1,500 in combined purchases at grocery stores, gas stations and drugstores
British Airways Visa Signature® Card
  • 5,000 bonus Avios when you spend $5,000 in purchases

Statement and travel credits

From June 1, 2020, through June 30, 2021, gas and grocery store purchases on Chase Sapphire Reserve will automatically count toward the $300 travel credit. All Sapphire cardmembers will also receive up to $50 in statement credits towards an Instacart Express membership (annual or monthly).

Limited time redemption options

Chase United cardholders can now redeem United miles towards the annual membership fee on Chase United cards.

Additionally, starting May 31, 2020, Sapphire cardmembers will be able to redeem points as a statement credit for groceries, dining (including takeout and delivery services) and home improvement store purchases using the new Pay Yourself Back tool. Through April 31, 2021, the rewards rate for Sapphire Reserve cardholders in these categories will be at 1.5 cents per point and 1.25 cents per point for Sapphire Preferred users.

Citi

Citi has closed its assistance program but will continue to help cardholders affected by the pandemic on a case-by-case basis.

“Due to a significant and steady decline in enrollments, our formal COVID-19 assistance program has concluded and we will focus on providing assistance options to those customers financially affected by COVID-19 on a case-by-case basis,” Citi said in a statement. “We continue to closely monitor the situation and will evaluate additional actions to support our customers and communities as needs arise.”

Statement and travel credits

Citi Prestige® Card users can spend their $250 travel credit on essentials and food and apply it to purchases at restaurants and supermarkets through Dec. 31, 2021.

Limited time redemption options

On top of that, eligible Citi cardholders can to redeem ThankYou Points toward gas at Shell, BP and Amoco stations. To use this redemption option, swipe your eligilble Citi credit card at a participating gas station. When the gas pump screen prompts you to redeem ThankYou Points, select “Yes” to pay for your purchase with points.

Discover

As COVID-19 is changing what travel looks like now and in the future, Discover has announced a permanent change to its travel credit card that offers cardmembers more flexibility, value and ways to redeem rewards.

“The pandemic has transformed the way customers travel and we are making changes to our travel credit card to reflect that,” said Meera Sridharan, Vice President of Rewards and Product Strategy at Discover. “Discover it® Miles card has expanded redemption categories to be more relevant to customers who are rethinking ways to travel while continuing to provide a simple way to earn rewards on every purchase.”

New redemption options

Discover it Miles cardholders can now redeem their miles as a statement credit toward purchases at restaurants and gas stations. Customers can also redeem those miles for Cash or at checkout at Amazon.com or with PayPal to cover costs beyond traditional travel categories.

The expanded travel credit will be applied to all transactions posted on or after June 9, 2020.

Final thoughts

The COVID-19 outbreak has taken a toll on many consumers’ financial health. If you’re unsure if your credit card is worth keeping during this time, your issuer may be able to help you. Even if you haven’t found any special offers for your card on this list, contact your bank and see if it can offer a more personalized solution.

*All information about the Capital One Spark Miles for Business, Capital One Spark Miles Select for Business and Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.

Source: creditcards.com