Write both offers as the same five numbers
For each card, record conservative bonus value, first-year fee, credits you will actually use, effective rewards rate on your mix, and required bonus spend. Then use one shared spending figure and one shared “already planned” spend for the bonus window. If a field is missing from the official terms, leave it blank instead of entering zero.
- Bonus points or cash and a conservative value
- First-year annual fee
- Credits that replace planned spending
- Effective rewards rate on your mix
- Required spend versus already-planned spend
Penalize spending that exists only for the bonus
If offer A needs $5,000 and you already planned $3,200, the extra $1,800 is a cost in the comparison—even if you “get something” for it. If offer B needs $2,000 and you already planned $3,200, that offer does not get a bonus for unused capacity. The worksheet should punish invented spend, not reward a higher minimum.
Keep approval odds and insurance off the value row
This comparison does not score credit-score impact, approval odds, purchase protection, or roadside assistance. Those items can matter, but they are easy to inflate. Decide value on money you can defend, then read protections in the official guide to benefits if a specific coverage is a reason to apply.
Compare first-year and keep-the-card years
A high-fee card can win year one on a bonus and lose year two if credits go unused. Make a second row that drops the welcome bonus and uses the ongoing fee. The card you would keep should win the second row, or you need an exit plan that does not assume a free cancellation after the bonus posts.
Confirm the terms you will actually receive
Targeted mail, comparison-site tables, and expired landing pages can disagree. Save the dated offer you used and match it to the account opening disclosure. Then rerun the two-offer calculator. The higher number is not a recommendation to apply—it is only the better of the two worksheets you entered.
Common questions
How should I compare two credit card offers?
Put both on one worksheet: conservative bonus value, annual fee, usable credits, rewards on the same spending, and any purchases created only to earn a bonus.
Why not pick the larger welcome bonus?
A larger bonus can require more spending, a higher fee, or points you cannot redeem well. Net first-year value is the useful number.
Does this comparison include approval odds?
No. It normalizes economic value from the numbers you enter. Confirm eligibility, APR, and current terms with the issuer before applying.
Official references
These sources support the method and definitions. Product prices, plans, specifications, and eligibility still need a current check.