Best Sign-Up Bonus Credit Cards for June 2020

Lyle is a writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance.

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We've vetted the most popular offers on the market and narrowed down the list to only the best credit card sign-up bonuses. In addition to big bonus offers, all the cards you'll see here have plenty of valuable perks that can help you conquer your money goals.

Travel bonus
Chase Sapphire Preferred® Card

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Apply Now

On Chase's Secure Website.

Apply Now

On Chase's Secure Website.

Rewards

3x points for groceries through June 30 2020, 2x points on travel and dining, 1x points on all other purchases. 25% more points for travel booked through Chase's portal.

Annual Fee

$95

Intro APR

Purchases: N/A
Balance Transfers: N/A

Ongoing APR

15.99% - 22.99% Variable

Bonuses & Perks

60,000 points after spending $4,000 within three months -- worth $750 of travel redeemed through Chase

Highlights
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
High cash back
Discover it® Cash Back

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On Discover's Secure Website.

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On Discover's Secure Website.

Rewards

Earn 5% cash back in rotating quarterly categories you activate ($1,500 quarterly spending cap), 1% back on all else

Annual Fee

$0

Intro APR

Purchases: 0%, 14 months
Balance Transfers: 0%, 14 months

Ongoing APR

11.99% - 22.99% Variable

Bonuses & Perks

Double cash back in the first year -- that's worth up to 10% back, FICO score for free

Highlights
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
Rewards

3% cash back on gas or in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined bonus category quarterly purchases), 1% on all else.

Annual Fee

$0

Intro APR

Purchases: 0%, 15 billing cycles
Balance Transfers: 0%, 15 billing cycles on transfers made within first 60 days

Ongoing APR

13.99%-23.99%

Bonuses & Perks

$200 after spending $1,000 in the first 90 days, 25% to 75% more rewards for Preferred Rewards members

Highlights
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
Chase Sapphire Reserve®

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On Chase's Secure Website.

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On Chase's Secure Website.

Rewards

5x points for groceries through June 30, 2020, 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point on all other purchases.

Annual Fee

$550

Intro APR

Purchases: N/A
Balance Transfers: N/A

Ongoing APR

16.99% - 23.99% Variable

Bonuses & Perks

50,000 points after spending $4,000 on purchases in the first 3 months. Worth $750 redeemed for travel through Chase, up to $100 application fee credit for Global Entry or TSA Pre✓®

Highlights
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
  • One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.
Rewards

Unlimited 1.5x points, 25%-75% more points for Bank of America Preferred Rewards members

Annual Fee

$0

Intro APR

Purchases: 0%, 12 billing cycles
Balance Transfers: N/A

Ongoing APR

14.99%-22.99%, variable

Bonuses & Perks

25,000 points after spending $1,000 within first 90 days, 25% to 75% more points for Preferred Rewards members

Highlights
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • If you're a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
Discover it® Miles

Apply Now

Apply Now

On Discover's Secure Website.

Apply Now

On Discover's Secure Website.

Rewards

Unlimited 1.5 Miles per $1

Annual Fee

$0

Intro APR

Purchases: 0%, 14 months
Balance Transfers: 10.99%, 14 months

Ongoing APR

11.99% - 22.99% Variable

Bonuses & Perks

Double Miles in the first year, FICO score for free

Highlights
  • UNLIMITED BONUS: Discover will match ALL the Miles you’ve earned at the end of your first year, automatically. For example, if you earn 35,000 Miles, you get 70,000 Miles. That’s $700 towards travel or to redeem as Cash! The more you earn, the more you get.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
  • Redeem for Travel or Cash. Easily redeem Miles as a statement credit for travel purchases or get cash.
  • No Blackout Dates. Simply pay for travel purchases like airlines, hotels, rental cars, and more with your Discover it® Miles card.
  • Miles Pay You Back. Easily redeem Miles as a statement credit for travel purchases. Or get cash.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
Rewards

3 points per $1 on the first $150,000 spent on travel and select business categories, 1 point per $1 on all else. Points are worth 25% more when you redeem for travel through Chase.

Annual Fee

$95

Intro APR

Purchases: N/A
Balance Transfers: N/A

Ongoing APR

15.99% - 20.99% Variable

Bonuses & Perks

100,000 bonus points after spending $5,000 on purchases within 3 months. That's $1,250 towards travel booked with Chase

Highlights
  • Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
The information related to Chase Ink Business Preferred℠ Credit Card has been collected by The Ascent and has not been reviewed or provided by the issuer.
Rewards

Earn 25X Points Total per dollar spent at IHG®, 2X points on purchases at gas stations, grocery stores, and restaurants, and 1 point per dollar spent on all other purchases. You'll also enjoy a reward night after each account anniversary year at IHG hotels worldwide.

Annual Fee

$89

Intro APR

Purchases: N/A
Balance Transfers: N/A

Ongoing APR

15.99%–22.99% variable

Bonuses & Perks

Earn 140,000 bonus points after spending $3,000 on purchases within the first three months of account opening, Global Entry or TSA Pre✓® Fee Credit of up to $100 every 4 years

Highlights
  • Earn 140,000 bonus points after spending $3,000 on purchases within the first three months of account opening
  • Enjoy a Reward Night after each account anniversary year at eligible IHG hotels worldwide. Plus, enjoy a reward night when you redeem points for any stay of 4 or more nights
  • Earn 25 points total per $1 spent when you stay at an IHG hotel
  • Earn 2 points per $1 spent on purchases at gas stations, grocery stores, and restaurants. Earn 1 point per $1 spent on all other purchases
  • Platinum Elite status as long as you remain a Premier card member
  • Global Entry or TSA Pre✓® Fee Credit of up to $100 every 4 years as reimbursement for the application fee charged to your card
  • IHG Rewards Club Bonus points are redeemable at hotels such as InterContinental®, Crowne Plaza®, Kimpton®, EVEN® Hotels, Indigo® Hotels & Holiday Inn®
The information related to IHG® Rewards Club Premier Credit Card has been collected by The Ascent and has not been reviewed or provided by the issuer.
Rewards

5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 1% on all else

Annual Fee

$0

Intro APR

Purchases: 0%, 15 months
Balance Transfers: 0%, 15 months

Ongoing APR

16.49% - 25.24% Variable

Bonuses & Perks

$150 after spending $500 within three months, free credit score monitoring

Highlights
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠
The information related to Chase Freedom® has been collected by The Ascent and has not been reviewed or provided by the issuer.
Capital One® Venture® Rewards Credit Card is temporarily unavailable on The Ascent. All information was collected independently from the issuer. Some items may be out of date.
Wells Fargo Propel American Express® card is temporarily unavailable on The Ascent. All information was collected independently from the issuer. Some items may be out of date.

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People who have good to excellent credit scores can cash in on sign-up bonuses -- valued at hundreds of dollars -- just for opening a new credit card account and using it for purchases. In a competitive card market, many of the best credit cards are paying some of the largest sign-up bonuses in recent memory.

In this new "golden age" for credit card rewards, sign-up bonuses remain one of the best ways to get a fast start toward earning high rewards. You can think of a sign-up bonus as a way to earn elevated rewards shortly after opening a new credit card account.

What is a sign-up bonus?

A credit card sign-up bonus is a financial incentive to open a new credit card account. Most credit card bonus offers include a bonus amount and a timeframe to receive it. For example, a credit card may offer a $150 cash-back bonus if you spend at least $500 within 90 days of getting the card.

The credit cards with the biggest sign-up bonus offers usually have annual fees and require more spending to qualify. You can find credit card bonus offers, especially with travel rewards cards, worth upwards of $500. With offers this valuable, expect the card to charge an annual fee, and for the bonus to have a spending minimum of at least $3,000.

What to look for in a sign-up bonus credit card

Here are the key things you should look for when deciding which sign-up bonus credit card is worthy of your application:

  • Minimum spending requirements: If the bonus requires you to meet a certain spending minimum, make sure you spend enough to comfortably reach that amount. You don't want to miss out on a bonus because you didn't spend enough, but it's also not good to spend more than usual just to get a bonus.
  • Value of the bonus: When you're comparing multiple sign-up bonuses, it makes sense to favor the card with the more valuable bonus. Keep in mind that with rewards credit cards that earn points, you also need to see what those points are worth to assess a bonus's value -- 50,000 points with one card may have a very different value than 50,000 points with another card.
  • Annual fee: You also need to take a card's annual fee into account to figure out the true value of the card, unless you're sticking to cards without an annual fee. If two cards have bonuses that are worth the same amount, but one card costs $100 less per year, that fee difference can make your decision much easier.

While those factors will help you evaluate cards based on their sign-up bonuses, there's more to choosing a credit card than just the bonus. You should also consider each card's benefits and rewards rate. Those determine how much value you get from a credit card year after year.

Types of sign-up bonuses

Sign-up bonuses can be divided into two basic types: lump sum and variable bonuses. To better understand the bonus offers that are available, we'll go into more detail on how each type works.

Lump-sum bonuses

A lump-sum bonus refers to a bonus offering a set reward for completing the bonus requirement. Here are a few examples:

  • $200 for spending $1,000 within 90 days
  • 50,000 points for spending $4,000 within 90 days
  • 50,000 points for spending $3,000 within 90 days, and another 50,000 points for spending $20,000 within one year

This is the most popular type of sign-up bonus. Card issuers can go with any spending minimum and time limit they like, although what we see most often are spending minimums from $500 to $5,000, and time limits of around 90 days.

Variable bonuses

A variable bonus refers to a bonus where the amount you spend determines the amount of reward you receive. You typically only see these bonuses with certain cash-back cards.

The most common example is the first-year match pioneered by Discover, where the card issuer doubles the rewards the cardholder earns in the first year of using the card. If your card offers this type of first-year match and you earn $500 in cash back that year, you receive $500 as your sign-up bonus.

This type of bonus is more valuable if you want to use one credit card for all your spending. By putting everything on that card, you'll increase your bonus amount and maximize your credit card rewards.

Is a sign-up bonus card right for me?

A sign-up bonus is a nice extra that adds to a credit card's up-front value. And considering that most credit cards offer these bonuses, you should be able to find a bonus card that you like.

The only caveat here is that a sign-up bonus shouldn't be your only reason for choosing a credit card. Check that the card also has competitive perks and rewards rate. It's important to find a card you'll want to keep using well after you've gotten its sign-up bonus.

FAQs

  • Many rewards credit cards offer sign-up bonuses to encourage you to open the card. Usually, they will offer a lump-sum of points or cash back if you can spend a certain amount of money within the first few months of opening the card. A typical travel sign-up bonus might be an offer of 50,000 miles if you can spend $3,000 on new purchases within three months of card opening. A typical cash back bonus will be for $150 to $200 if you spend $500 to $1,000 within three months.

  • If you want to go after a big sign-up bonus, it's not hard to find cards with offers worth more than $500, and some credit cards come with offers that are worth close to $1,000. Travel rewards credit cards tend to offer the biggest sign-up bonuses. These include airline and hotel credit cards as well as generic travel credit cards.

    While point value varies by credit card, they tend to average out to at least $0.01 each, so you can use that to estimate the value of a sign-up bonus. For example, a 50,000 point sign-up bonus is likely worth at least $500.

    There are also some cash back credit cards that offer sign-up bonuses but they're usually far below $500.

  • Cards that offer sign-up bonuses require good to excellent credit. A credit score above 720 is ideal since that puts applicants in a cohort of “prime” borrowers who are most likely to get approved for a high-end rewards card.

    Of course, people with lower scores (670 or higher credit score is suggested) can also get approved, since there are more factors (such as income) that play into credit decisions. but these cards generally aren’t open to people who have recent blemishes on their credit reports.

  • There are a few keys to making the most of a sign-up bonus credit card:

    • Make sure you meet the bonus requirements. For most cards, this means you'll need to hit the spending minimums. The biggest mistake you can make is not completing a requirement and missing out on the bonus.
    • Don't overspend because of a bonus. No bonus is worth going into credit card debt or making unnecessary purchases.
    • Pay your entire credit card bill each month. The whole point of a sign-up bonus is that you come out ahead. That won't happen if you're paying interest to the card issuer.
  • A credit card with a big sign-up bonus can be worth an annual fee, but it depends on the card and the fee amount.

    If you're looking for a credit card to keep for the foreseeable future, then you should look at all its features and decide whether its benefits outweigh its cost. A good sign-up bonus will often be worth much more than a card's annual fee. That only matters in the first year, though. After that, the card's perks and the rewards you earn will need to be worth more than the annual fee to justify keeping it.

The Ascent's picks for the best credit card sign-up bonus offers:
Card Sign-Up Bonus Great For
Chase Sapphire Preferred® Card Graphic of Chase Sapphire Preferred® Card Sign-Up Bonus:

60,000 points

Great For:

Travel and points transfers

Discover it® Cash Back Graphic of Discover it® Cash Back Sign-Up Bonus:

Double cash back in the first year

Great For:

Bonus cash rewards and no annual fee

Bank of America® Cash Rewards credit card Graphic of Bank of America® Cash Rewards credit card Sign-Up Bonus:

$200

Great For:

Cash rewards program

Chase Sapphire Reserve® Graphic of Chase Sapphire Reserve® Sign-Up Bonus:

50,000 points

Great For:

For premium travel

Bank of America® Travel Rewards credit card Graphic of Bank of America® Travel Rewards credit card Sign-Up Bonus:

25,000 points

Great For:

Unlimited travel rewards

Discover it® Miles Graphic of Discover it® Miles Sign-Up Bonus:

Double miles in the first year

Great For:

Travel card with no annual fee

Chase Ink Business Preferred℠ Credit Card Graphic of Chase Ink Business Preferred℠ Credit Card Sign-Up Bonus:

100,000 bonus points

Great For:

Business

IHG® Rewards Club Premier Credit Card Graphic of IHG® Rewards Club Premier Credit Card Sign-Up Bonus:

140,000 points

Great For:

Hotels

Chase Freedom® Graphic of Chase Freedom® Sign-Up Bonus:

$150

Great For:

Bonus cash rewards program

Capital One® Venture® Rewards Credit Card Capital One® Venture® Rewards Credit Card Sign-Up Bonus:

50,000 miles

Great For:

Unlimited travel miles

Wells Fargo Propel American Express® card Wells Fargo Propel American Express® card Sign-Up Bonus:

20,000 bonus points

Great For:

Travel and dining

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