However, if you earn a credit card bonus without spending cash — corresponding to a referral bonus when your friend signs up for the card — it might be taxable. This is a risky and time-consuming gambit that might adversely have an effect on your credit score. Though a welcome bonus is value contemplating, we suggest taking a complete take a glance at the general value of a bank card and choosing one that matches your spending habits and monetary scenario. If you’re applying for a mortgage or auto mortgage in the subsequent few months, you may need to rethink opening a brand new card, particularly to open a welcome bonus, mentioned Beverly Harzog, a bank card skilled and writer. Before you apply for a card, ensure you can qualify for the welcome bonus.