Best Sign-Up Bonus Credit Cards for December 2023

Credit card sign-up bonuses are a popular perk. That's good news for consumers because these are some of the best deals you can find. The card issuer is essentially paying you to open a new card and meet its bonus requirements. Many credit cards have sign-up bonuses worth several hundred dollars to $1,000 in cash back, travel rewards, or statement credits.

With all the offers available, it may seem hard to pick the best credit card sign-up bonus. This doesn't need to be a decision that takes a long time, though. We've put together a list of the most lucrative bonuses on the market. All you need to do is figure out which type of rewards you want to earn and then choose the credit card with the bonus offer you like the most.

How to choose the best credit card with a bonus

The key to choosing the best bonus credit card offers is finding the one that fits you best. Here are the three steps that will help you pinpoint the perfect card:

1. Decide which types of rewards work for you. Rewards are only valuable if you can use them. A 50,000-mile bonus doesn't help you if those bonus miles are with an airline you don't use. That's why the first step is figuring out which types of rewards are best for you. Maybe you only want cash rewards bonuses, or you'd rather earn travel points. It's usually smart to stick to cash back cards and travel cards. Their bonuses tend to be much more valuable than the bonuses offered by store credit cards.
2. Look for realistic bonus requirements. Bonus amounts are what get your attention, but bonus requirements are more important. You should be able to spend enough to get the credit card bonus with your normal monthly bills. There are situations where you could shoot for a bonus with a bigger spending requirement, like if you have some sizable expenses coming up. But for the most part, it's best to avoid bonuses with hard-to-reach requirements.
3. Choose a card with a competitive bonus amount. At this point, you've narrowed it down to the best credit card offers with rewards you like and bonus requirements you can meet. This is when bonus amounts take center stage. The credit card you choose should offer a competitive amount of bonus rewards. You'll probably take other features into consideration, too, including the perks each card offers and its annual fee. But it makes sense to go for as big a bonus as possible.

Most of the credit cards with the best sign-up bonus offers are only available if you have a good credit score. That means a FICO® Score of 670 or above. If yours isn't that high yet, then you're probably better off looking for ways to increase your credit score first.

What is a credit card sign-up bonus?

A credit card sign-up bonus is a special offer available to new cardholders. Bonuses are usually a set amount of rewards, such as $300 cash back or 50,000 rewards points. However, there are cards that offer different types of sign-up bonuses. For example, some store credit cards offer a large discount on your first purchase.

How do you earn a signing-up bonus?

To earn a sign-up bonus, you just need to fulfill the bonus requirements. With most credit cards, the bonus requirement is reaching a spending minimum, such as making $3,000 worth of eligible purchases on your new card within the first three months of account opening. After you do that, the card issuer will send you the bonus. This usually happens within one to two billing cycles.

Sign-up bonuses often have a few additional rules that can affect whether you qualify. You can find these on the credit card page or in its terms and conditions. Here are a few of the most common sign-up bonus rules to look for:

• Certain types of purchases may not qualify for the spending requirement on a sign-up bonus. Some card issuers don't consider cash equivalents, such as gift cards or sending money through payment apps, to be eligible purchases.
• You may not qualify for a sign-up bonus if you've recently gotten a bonus offer from the same card or a card in the same product line. For example, if you just got a Southwest Airlines card and earned a bonus, you may not qualify for the bonus on another Southwest Airlines card for a specific time period, such as 24 months.
• A credit card may have multiple bonuses with separate requirements. You could find a card offering 50,000 points for spending $3,000 in three months, plus 50,000 more for spending $20,000 in the first year. In this case, you earn each bonus separately after completing its requirements.

These rules vary depending on the card and the card issuer. That's why you should always review the rules for the card you want before applying.

Which credit cards offer the best signing-up bonus?

Consumer cards that offer some of the biggest sign-up bonuses include:

• The Platinum Card® from American Express: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in the first 6 months. Terms apply.
• Capital One Venture X Rewards Credit Card: Earn 75,000 bonus miles after you spend $4,000 on purchases in the first 3 months.
• Chase Sapphire Preferred® Card: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months.

When comparing sign-up bonuses, keep in mind that the value depends on the type of points the card earns. For example, there are hotel credit cards with sign-up bonuses of 100,000 points or more. However, hotel points are generally worth less than $0.01 per point. The points earned by the cards above, on the other hand, can be worth $0.02 or more, depending on how you redeem them.

Also, credit cards with the most valuable sign-up bonuses charge an annual fee. There are great welcome offers available from no annual fee credit cards, but they won't be as much as what you can get if you're willing to pay an annual fee.

Alternatives to consider

The best credit card sign-up bonus can provide quite a bit of value. But there are other types of credit cards that may be worth even more, depending on your situation. While you're comparing credit cards, see if any of the following could save you more money than bonus points or a statement credit.

0% intro APR credit cards

A 0% intro APR credit card offers zero interest on purchases for an introductory period. If you have any major expenses that you can't pay in full, then one of these cards can save you quite a bit of money in interest. Many 0% intro APR cards don't charge interest for the first year or longer. You could pay for big purchases upfront and then gradually pay them off before the 0% intro APR ends.

Balance transfer credit cards

A balance transfer credit card offers zero interest on balance transfers for an introductory period. This can be a great deal if you have high-interest debt you're paying off. All balance transfer credit cards let you transfer balances from other credit cards, making them perfect for saving money as you eliminate credit card debt. Some also let you transfer over other types of debt.

Rewards credit cards

Rewards cards cover any credit cards that earn purchase rewards. That includes cash back credit cards, travel credit cards, and store credit cards. You can find plenty of rewards credit cards with sign-up bonuses, but there are also rewards cards without this type of intro offer. It's a good idea to check out rewards cards both with and without sign-up bonuses. You could find a rewards card that still packs a lot of value in other areas, such as big gas and grocery rewards, despite not having a bonus.