Photo: Wanwajee Weeraphukdee (Shutterstock)
Let’s say you just signed up for a credit card, and days later the same lender promotes a new sign-up bonus that’s better than the one you got: Can you call them up and ask if you can qualify for the new bonus instead? For the most part, the answer is no, but there are exceptions, too—so it can’t hurt to ask.
The sooner you contact your lender, the better
You’re more likely to receive a retroactively applied bonus if you’re asking early, ideally within a few days of opening your account (to make the request, use the customer service line, which should be listed on the back of the card).
The greater difference in bonus value, the easier it will be to plead your case. After all, the difference between a 60,000 and a 100,000 reward points bonus can be worth a few hundred dollars, and you’re only missing out on it because of bad timing.
Some credit companies are more strict than others
Some lenders have very strict rules related to sign-up bonuses, so you might want to read the small print in your terms and conditions before you call. For example, American Express’ official policy is that you’re limited to just one welcome bonus per card, while Chase and Citi restrict borrowers to one bonus if you’ve already received one in the last 24 months.
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Whether you have some wiggle room on the interpretation of these rules will depend on the lender, and when you ask (Amex seems to go through periods in which they’re more likely to match offers, as an example). And since a lot of these decision are case-by-case, it’s hard to get hard information on how likely a lender will match a bonuses. Either way, the only way to know for sure is to ask—the worst thing that can happen is that they’ll say no.
