This 10 best Credit Card Bonus guideline is for people looking to earn bonuses just by applying for a credit card. I decided to write the post because a friend of mind asked me this question; What cards give you money for signing up? The list of top bank cards are numerous but for the cause of this publication, we will look at the 10 Best Credit Cards for Sign-up Bonuses.
List of 10 Top Credit Cards With Sign-up Bonuses
- Southwest Rapid Rewards® Plus Credit Card: Best feature: Unlimited points for spending on Southwest flights and with other travel partners.
- Chase Sapphire Preferred® Card: Best feature: Travel rewards.
- Southwest Rapid Rewards® Premier Credit Card: Best feature: Southwest Airlines rewards.
- Chase Sapphire Reserve®: Best feature: Travel rewards with an annual travel credit.
- Marriott Bonvoy Bold® Credit Card: Best feature: Marriott rewards with no annual fee.
- Citi Premier® Card: You receive a $100 discount on a hotel stay per $500
- Marriott Bonvoy Boundless® Credit Card: You can earn 3X Bonvoy points per $1
- United℠ Explorer Card: Free first checked bag – up to $140 round trip
- IHG® Rewards Premier Credit Card: Reward night at a participating IHG property
- Southwest Rapid Rewards® Priority Credit Card: $75 annual Southwest travel credit
What You Should Know about this?
Most financial institutions has sign-up bonuses as well as promise extra points, miles or cash back rewards to customers. But that is if you meet a specific spending minimum as a new credit cardholder. As high spending account holder, you could receive a bonus worth several dollars in cash back or travel packages.
This can even be among other benefits plus your regular rewards earnings. All you have to do is meet the spending minimum limit required to earn the bonus. Lastly, think about your budget properly before getting this type of card so as not to blow your entire income.
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10 Best Credit Card Bonuses For New Cardholders
1. Southwest Rapid Rewards® Plus Credit Card
Why this is Southwest Rapid Rewards Plus Credit Card among the best credit cards with a sign-up bonus? The answer is simple and straight to the point. Just earn 50,000 bonus points on your card after spending up to $1,000 on purchases within the first 3 months of signup.
2. Chase Sapphire Preferred® Card
Why this is Chase Sapphire Preferred® Card one of the best credit cards with a sign-up bonus? Reason is because they give you the chance to earn rewards. Simply earn a total of 60,000 credit bonus score/points by spending a total of $4,000 on purchases. Note that you must complete this take in the first 3 months from opening your account. You will immediately get a $750 bonus redeemable through Chase Ultimate Rewards®. Take into account that you will pay a $95 annual card fee as charges. But, the bonus is worth more than twelve times that $95 amount.
3. Southwest Rapid Rewards® Premier Credit Card
Why is Southwest Rapid Rewards® Premier Credit Card among the best credit cards with a sign-up bonus? It is because of the 10% bonus attached to new customers. Therefore, those people who prefer to make use of Southwest cards, will appreciate the card’s sign-up-bonus. You just require a 50,000 bonus points earning. So, you are required to spend $1,000 on purchases in the first 3 months of opening your account. Also inclusive is an additional 6,000 bonus points you will receive after your Cardmember anniversary per annum. Users are to pay a $99 annual service charge. But on the other hand but receive a 6,000-point boost each card anniversary.
4. Chase Sapphire Reserve®
Why this Chase Sapphire Reserve® is among the best credit cards with a sign-up bonus: With this card, you’re expected to earn 60,000 bonus points/ credit score. But you must have spent up to $4,000 on purchases with 90 days from account opening. That’s a whooping $900 gain toward travel when you redeem your rewards through Chase Ultimate Rewards®. More specifically, you will get a $300 travel credit at the end of each card year cycle.
5. Marriott Bonvoy Bold® Credit Card
Why is Marriott Bonvoy Bold® Credit Card in the list of the best credit cards with a sign-up bonus: It is because of their hotel bonuses. But first, you have to earn 30,000 Bonus Points by spending more than $1,000 on purchases. You must achieve this in the first 3 months of opening this account. More interestingly, you’re of no obligation to pay any annual fee. Also, you can earn up to 14 points per $1 when you are a full member of Marriott Bonvoy. But you will have to use the card at participating hotels. Their cardholders also qualify for Marriott Silver Elite Status. This will in-turn help you receive two points per 1 dollar on all other travel purchases. Only available for frequent business travellers.
6. Citi Premier® Card
Why this Citi Premier® Card is listed as one of the best credit cards with sign-up bonuses: The main reason is that they offer you 80,000 bonus “ThankYou® Points” after you spend $4,000 in purchases. However, you have to complete this purchases within the first 90 days of signup for the account. As a benefit for each year cycle, you receive a $100 discount on a preferred hotel stay of $500 or even more.
7. Marriott Bonvoy Boundless® Credit Card
Why this Marriott Bonvoy Boundless® Credit Card is in the list of the best credit cards with a sign-up bonus: The key reason is that you can earn 3 Free Nights (each night valued up to 50,000 points) after qualifying purchases is completed. That is to say, an account holder can earn 3X Bonvoy points per $1 on the first $6,000 spent in combined purchases each year. The purchases can be for any item or location in the US including grocery stores, gas stations, or specific dinner restaurants. In fact, every year after your account anniversary, you are entitled to also earn a free one-night stay at a qualifying hotel.
8. United℠ Explorer Card
Why this United℠ Explorer Card is available as one of the best credit cards with a sign-up bonus: United States travellers love this card for its free first checked bag. Card holders can get up to $140 round trip. Plus bonus miles boost is among what you will enjoy when you sign up. Lastly, you can earn 50,000 bonus miles after spending $3,000 flat on different online or offline purchases in the first 90 days your account is open for use.
9. IHG® Rewards Premier Credit Card
Why this IHG® Rewards Premier Credit Card is one of the best credit cards with a sign-up bonus: The bonus is high for new cardholders. You can basically earn 140,000 bonus points if you’re able to complete a spending limit of $3,000 on purchases in the first 3 months you got your bank account. You not only get one annual reward night at a participating IHG property but also up to 26 points total per $1 spent when you stay at any IHG hotel. Its a win-win situation.
10. Southwest Rapid Rewards® Priority Credit Card
Why this Southwest Rapid Rewards® Priority Credit Card is one of the best credit cards with sign-up bonuses: Cardholders can earn 50,000 bonus points after spending $1,000. This is expected to be on any type of purchases in the first 3 months. Annually, the card company charges a $149 a fee as maintenance, but includes a $75 annual Southwest travel credit. You can additionally earns 2 points per 1 dollar on Southwest purchases and one point per dollar on all other purchases made.
What Are Good Sign-up Bonuses?
The highest sign-up bonuses are worth around $1,000, so anything approaching that value would be a good bonus. Of course, just because a card has a high sign-up bonus doesn’t mean it’s right for you. Most importantly, consider how much you’ll need to spend to qualify for the bonus. Evaluate the card’s other perks – such as free checked luggage or rental car damage waiver – along with its annual fee to decide whether signing up for the bonus will pay off for you.
What Are the Pros and Cons of Credit Cards With the Best Sign-up Bonuses?
Pros / Advantages / Merits:
- Bonuses & Added value. Cards sign-up bonuses promise extra points, miles or cash back rewards. But remember that you’ve to meet a spending minimum as a new customer. Depending on your spending limit, you could receive a bonus worth hundreds of dollars in cash back or travel on top of your regular rewards earnings.
- Early & Quick fix. A cardholder sign-up bonus gives you so may rewards as soon as you open an account. You do not need to wait long after you open your account. Hopefully, the best deals may be available for a limited time as an incentive to sign up for the card.
Cons / Disadvantages / Demerits:
- Spending requirements. You must meet a spending minimum within a certain window after opening the card to earn a bonus. Make sure this requirement fits your budget before you apply for the card.
- High interest rates. Rewards credit cards may give you something back when you use them, but interest rates can be high. If you tend to carry balances on cards, interest charges can eat into the value of sign-up bonuses and rewards you earn.
- Credit restrictions. Most cards with sign-up bonuses require good credit, or a minimum FICO score (Fair Isaac Corporation) of 670.
How to Choose a Card With a Sign-up Bonus
We all know that a sign-up bonus can make a huge difference in how much you can earn from your credit card in the first year. But it’s not the only factor you should consider when choosing a credit card. There’s more to choosing a perfect card for your needs.
Factors to consider When Choosing a Credit Card Company
- First on the list is to determine what type of credit card you want. As can be seen above, there are presently many types of credit cards with sign-up bonuses. Please, try not to choose a credit card based only on the total amount of the sign-up bonus. You must firstly, think about what type of rewards credit card you want or can access. After that, you can then select one based on a sign-up bonus you want to earn and can attain without overspending your income.
- Second factor is you can redeem your bonuses? Ensure you will be able to make use of the bonus points, miles or statement credits you might receive. Bear in mind that points/scores or miles can often be redeemed from mainly travel and hotel. Cash back, gift cards or merchandise are second option.
- Thirdly, you have to really understand the sign-up bonus factors:
- What is the spending requirement? Usually, larger sign-up bonuses require a higher spending threshold. Weigh how much you earn versus how much you can spend.
- How long do you have to meet the spending requirement? Most sign-up bonuses must be earned within the first 90 days of opening the card. However, it is recommended that you carefully check the whole details of the offer.
- How much is the sign-up bonus worth? Even though the value of a cash back bonus is obviously written, there are other options that are more challenging to calculate. To this end, there are other News Bonus points guide can help you better understand the value of your sign-up bonus.
How to Maximize Your Sign-up Bonuses
1. Ensure you Choose a card with a sign-up bonus you can easily earn.
- Make sure you consider correctly how much you expect to spend during the first few months of using the credit card. Then carefully select a card with a sign-up bonus that matches your budget to avoid overspending just to get the bonus.
2. Carefully Watch out for Hidden Charges or fees.
- Ensure your sign-up bonuses is worth $100 or more. However, that can be quickly offset by annual fees, late fees, balance transfer fees and interest fee charges. Always pay off your balance on time each month to avoid interest charges and late fees.
3. Always Compare credit cards regularly.
- Evaluate credit card offers yearly to see how your card stacks up. With a better card, you could earn a sign-up bonus that may be the equivalent to years of rewards on your current card. Plus, a new card increases your available credit, which helps you keep a low credit utilization ratio and can improve your credit score.
Be aware that, a new credit card isn’t without drawbacks. The hard inquiry from a card application may temporarily calibrate your credit score a few points. Also, watch out because the new card could charge an annual fee.
While, a well-chosen card can complement your other credit cards. When put in excellent use strategically, your rewards credit cards could help you make best profit.
Best Sign-up Bonus Credit Cards Methodology
Hybrid Cloud Tech has been helping consumers make money decisions for decades. For our Best Credit Cards for Sign-up Bonuses list, we considered overall issuer satisfaction ratings, rewards earning rates, annual fees, APRs and sign-up bonus values. Note that all satisfaction data is based on an annual nationwide survey done online/offline.
Now, to be eligible for the list, a card must have a sign-up bonus worth at least $301. Spending requirements to earn a sign-up bonus vary. Going forward, the best card for you may depend on your spending habits and other factors. This includes a card’s annual fee and rewards potential after you earn the bonus and rewards.
Sign-up Bonus Credit Cards FAQs
How Do Sign-up Bonuses Work?
Most company’s credit card sign-up bonus offers usually require you to spend a specific amount using the card within a certain amount of time. All these sign-up offers can be presented as points, miles, cash back or statement credits. Most at times, points or miles can be redeemed for cash back, travel, gift cards, merchandise or other awards etc.
Typically, cards that offer multiple bonus options have one that delivers the most value. Take for example, the Chase Sapphire Preferred Card offers 60,000 bonus points after you spend $4,000 on purchases. But it has to be completed in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®. Correct, right?
Chase Ultimate Rewards points are valued at 1 cent per point for most redemption options, making this sign-up bonus worth $600. However, points are worth 25% more when redeemed for travel through the Chase Ultimate Rewards portal, which means this bonus can be worth up to $750.
Are Credit Card Sign-up Bonus Offers Worth It?
Many sign-up bonuses are worthwhile, but only if you can meet the spending requirements without breaking your budget. Unless you’re trying to rack up points from different card offers, consider how a card’s features will fit your lifestyle. If you don’t travel much, a travel-oriented card may not make sense for you in the long run, even if its sign-up bonus is impressive. You’ll have to live with benefits that might become drawbacks if the card goes unused and could pay a substantial annual fee.
What Is a Credit Card Sign-up Bonus?
Issuers offer sign-up bonuses, such as cash back rewards, points or miles, as incentives for reaching spending minimums after you open a credit card. Points or miles usually can be redeemed for travel, cash back, and merchandise or gift cards. You typically must meet a spending threshold within the first three months you hold the card to earn the bonus.
Are Credit Card Bonuses Taxable?
In last words, a sign-up bonus is not taxable if you need to meet a spending requirement to earn it. So, if you received a bonus for opening a credit card without spending any money, then the bonus could be considered taxable income. That will be all for today on the best sign-up bonus credit card no annual fee. Please share this article.