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It’s pretty amazing that you can earn a sign-up bonus from a credit card issuer, just for giving their products a chance. The credit card industry is so competitive that these sign-up bonuses have become quite common and extremely generous. The best sign-up bonuses will offer new cardholders valuable points, miles, or cash back, typically after meeting a minimum spending requirement within a specified period of time.
To choose a card with the best sign-up bonus, you should consider the value of the offer, along with the size of the minimum spending requirement. For example, it would be unwise to choose a card that requires $3,000 of spending within three months of account opening when you only spend $500 each month. In addition, applicants should also examine the features and benefits of these cards, and choose the one that best meets their long term needs, not just one that has the best initial bonus. Finally, it is always worth considering the cost of the annual fee, and noting whether or not it is waived the first year with a particular offer.
The top four credit cards with sign-up bonuses:
The Capital One VentureOne Rewards card
currently offers a sign-up bonus of 20,000 miles after spending $1,000 in the first three months, which is equal to $200 in travel. After that, it doesn’t matter whether you are buying gas, your morning coffee, or a diamond ring, you will earn 1.25 miles per dollar on every purchase, every day. These reward miles do not expire, and there is no limit to the number of miles you can earn. Redeem miles for travel credits through Purchaser Eraser or to book new reservations through the Capital One Rewards Center. Cardholders can use their miles to fly on any airline and stay at any hotel at any time, and there are no blackout dates associated with travel rewards. In fact, you will even earn miles with the airline from your award travel, something you can never do with traditional frequent flier miles. You may also redeem miles for cash, gift cards, and more. There are no annual fee for this card, and no foreign transaction fees.
The Citi Premier℠ card
currently offers new cardholders 60,000 bonus ThankYou points when they spend $4,000 within the first three months of account opening. These points can then be redeemed for $600 in gift cards or merchandise. Cardholders also earn three points per dollar spent on travel, including gas, two points per dollar on spent at restaurants and on entertainment like sporting events and theater performances, and one point per dollar spent on all other purchases. ThankYou points can also be redeemed directly for purchases from Amazon and Live Nation. In addition, travel booked through the ThankYou Travel Center is worth 25% more as compared to gift cards. Finally, ThankYou Premier cardholders can transfer their rewards points to 13 different airline partners as well as the Hilton HHonors program. This card has a $95 annual fee but no foreign transaction fees.
For those business owners looking for a great sign up bonus, the Capital One Spark Cash for Business card
offers new applicants a one-time $500 cash bonus after spending $4,500 on purchases in the first three months, a return of over 10%. Whether you are purchasing office supplies or taking a client out to eat, you will earn 2% cash back on every purchase, every day. For example, a business owner who spends $5,000 each month on this card will earn $1,200 cash back every year. There are no limits to where you can earn cash back rewards, which never expire. You can redeem cash anytime, for any amount, and you can even set up an automatic redemption. Add employee cards at no extra cost to you, and you will earn all the rewards from those purchases! This card has a $59 annual fee that is waived in the first year and no foreign transaction fees.
The Chase Sapphire Preferred card has emerged as one of the premier travel rewards cards, which is conveyed to merchants when they receive this heavy, solid card with its metal core. New cardholders earn 40,000 bonus points when they spend $4,000 within three months of account opening, and an additional 5,000 points when an authorized cardholder is added and just makes a single purchase. Cardholders also earn double points for all travel and dining expenses, and one point per dollar spent elsewhere.
These 45,000 points are worth $450 in cash back, or $562 in travel reservations. But in addition, the Chase Ultimate Rewards program allows card holders to transfer their points to miles with several different airline and hotel programs. So cardholders can receive even more value per point when they transfer points to airline miles and book premium class international awards, or to hotel programs to redeem for free nights at luxury properties. There is a $95 annual fee for this card that is waived the first year, and no foreign transaction fees.