Google has updated its help page on promotional offers, providing clear distinctions between three types: new advertiser promotions, coded promotions for both new and existing advertisers, and codeless promotions for existing accounts. Each category outlines specific steps for redeeming offers in Google Ads accounts.

Before claiming an offer, users must enter a payment method.
For new advertisers, signing up is required to secure the promotional offer. Coded promotions involve selecting the billing icon and entering the offer code, while codeless promotions require existing account users to choose from available offers directly in the promotions table.
This update was discovered by Hana Kobzová.
Read the official help page here: How to redeem your Google Ads promotional offer.