Best Sign-up Bonus Credit Cards of October 2022
Best Card Summary
Marriott Bonvoy Boundless® Credit Card
Why this is one of the best credit cards with a sign-up bonus: Limited Time Offer! Earn 100,000 Bonus Points after you spend $3,000 on purchases in the first 3 months from account opening. You can earn 3X points per $1 on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining. Each year after your account anniversary, you will also earn a free one-night stay at a qualifying hotel. See our full review.
Southwest Rapid Rewards® Plus Credit Card
Why this is one of the best credit cards with a sign-up bonus: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months. See our full review.
Chase Sapphire Reserve®
Why this is one of the best credit cards with a sign-up bonus: You’ll earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®. Get a $300 travel credit each account anniversary. See our full review.
Marriott Bonvoy Bold® Credit Card
Why this is one of the best credit cards with a sign-up bonus: Limited Time Offer! Earn 60,000 Bonus Points after you spend $2,000 on purchases in the first 3 months from account opening. You will pay no annual fee and can earn up to 14 points per dollar when you are a Marriott Bonvoy member and use the card at participating hotels. Cardholders also qualify for Marriott Silver Elite Status and receive two points per dollar on all other travel purchases, handy for frequent business travelers. See our full review.
Southwest Rapid Rewards® Premier Credit Card
Why this is one of the best credit cards with a sign-up bonus: Those who prefer to fly on Southwest will appreciate the card’s sign-up-bonus. Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months. You’ll receive an additional 6,000 bonus points after your Cardmember anniversary each year. You’ll pay a $99 annual fee but receive a 6,000-point boost each card anniversary. See our full review.
Southwest Rapid Rewards® Priority Credit Card
Why this is one of the best credit cards with sign-up bonuses: Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months. The card charges a $149 annual fee but includes a $75 annual Southwest travel credit and earns two points per dollar on Southwest purchases and one point per dollar on all other purchases. See our full review.
Chase Sapphire Preferred® Card
Why this is one of the best credit cards with a sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®. Although you will pay a $95 annual card fee, the bonus is worth more than twelve times that amount. See our full review.
Citi Premier® Card
Why this is one of the best credit cards with sign-up bonuses: The Citi Premier Card offers you 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Each year, you receive a $100 discount on a hotel stay of $500 or more. See our full review.
United℠ Explorer Card
Why this is one of the best credit cards with a sign-up bonus: United travelers love this card for its free first checked bag – up to $140 round trip – and the bonus miles boost you can get when you sign up. Earn 50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open. See our full review.
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:
- Added value. Sign-up bonuses promise extra points, miles or cash back rewards if you meet a spending minimum as a new cardholder. You could receive a bonus worth hundreds of dollars in cash back or travel on top of your regular rewards earnings.
- Quick fix. A sign-up bonus gives you a lot of rewards not long after you open your account. The best deals may be available for a limited time as an incentive to sign up for the card.
Cons:
- 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 of 670.
How to Choose a Card With a Sign-up Bonus
A sign-up bonus can make a big 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.
- Determine what type of credit card you want. There are many types of credit cards with sign-up bonuses. Try not to choose a card based only on the amount of the sign-up bonus. First, think about what type of rewards credit card you want. Then select one based on a sign-up bonus you want to earn and can attain without overspending.
- How can you redeem the bonus? Make sure you will be able to use the points, miles or statement credits you might receive. Points or miles can often be redeemed for travel, cash back, gift cards or merchandise.
- Understand the sign-up bonus factors:
- What is the spending requirement? Usually, larger sign-up bonuses require a higher spending threshold.
- How long do you have to meet the spending requirement? Most sign-up bonuses must be earned within the first three months of opening the card, but check the details of the offer.
- How much is the sign-up bonus worth? The value of a cash back bonus is obvious, but other options are more challenging to calculate. This U.S. News points guide can help you better understand the value of your sign-up bonus.
How to Maximize Sign-up Bonuses
Choose a card with a sign-up bonus you can easily earn. Consider how much you expect to spend during the first few months of using the credit card. Select a card with a sign-up bonus that matches your budget to avoid overspending just to get the bonus.
Watch out for fees. Sign-up bonuses may be worth $100 or more, but that can be quickly offset by annual fees, late fees, balance transfer fees and interest charges. Always pay off your balance on time each month to avoid interest charges and late fees.
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.
However, a new card isn’t without drawbacks. The hard inquiry from a card application may temporarily ding your credit score a few points, and the new card could charge an annual fee.
On the other hand, a well-chosen card can complement your other credit cards. Used strategically, your rewards credit cards could help you make a tidy profit.
U.S. News 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. Satisfaction data is based on an annual nationwide survey.
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. The best card for you may depend on your spending habits and other factors, including a card’s annual fee and rewards potential after you earn the bonus.
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