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Best credit card sign-up bonuses for September 2023

Updated September 22, 2023

One of the best perks of having a credit card is the sign-up bonus. As an incentive for opening an account, eligible cardholders can earn a lump sum of cash back, points or miles after spending a certain amount in a set time period. 

The best sign-up bonuses can be worth hundreds to thousands of dollars with the right redemption option, but it’s important to consider more than just the dollar value. The spending requirements to get the bonus must fit your budget, and you’ll have to ensure the credit card will provide you with value for years to come. To make it easier, we’ve analyzed credit card sign-up bonuses and provided our top picks, along with tips to help you choose.

Image of Bank of America® Customized Cash Rewards credit card
Credit Card Best Choose your 3% category

Best for choice of cash back category

Bank of America® Customized Cash Rewards credit card

Apply now Lock
on Bank of America's secure site
Rating: 4.3 stars out of 5
4.3 Bankrate review
Info

Rewards rate

1% - 3%
Info

Annual fee

Recommended credit

Good to Excellent (670 – 850)
Info
Image of Chase Sapphire Preferred® Card

Biggest travel sign-up bonus

Chase Sapphire Preferred® Card

Apply now Lock
on Chase's secure site
Rating: 4.9 stars out of 5
4.9 Bankrate review
Info

Rewards rate

2x - 5x
Info

Annual fee

Recommended credit

Good to Excellent (670 – 850)
Info
Image of Ink Business Unlimited® Credit Card

Best business sign-up bonus

Ink Business Unlimited® Credit Card

Apply now Lock
on Chase's secure site
Rating: 4.2 stars out of 5
4.2 Bankrate review
Info

Rewards rate

1.5%
Info

Annual fee

Recommended credit

Good to Excellent (670 – 850)
Info
Image of Southwest Rapid Rewards® Plus Credit Card
Apply now Lock
on Chase's secure site
Rating: 4.5 stars out of 5
4.5 Bankrate review
Info

Rewards rate

1X - 2X
Info

Annual fee

Recommended credit

Good to Excellent (670 – 850)
Info

Compare Bankrate's top sign-up bonus credit cards

Card Sign-up bonus Spending requirement Bankrate review score
Bank of America Customized Cash Rewards credit card $200 online cash rewards bonus $1,000 within first 90 days 4.8 / 5
(Read full card review)
Chase Sapphire Preferred Card 60,000 points (worth $750 toward travel when redeemed through Chase Ultimate Rewards) $4,000 within first 3 months 4.9 / 5
(Read full card review)
Ink Business Unlimited Credit Card $900 bonus cash back $6,000 within first 3 months 4.2 / 5
(Read full card review)
Southwest Rapid Rewards Plus Credit Card

50,000 bonus points

$1,000 within first 3 months  4.3 / 5
(Read full card review)
Citi Rewards+ Card 20,000 points $1,500 within first 3 months 3.9 / 5
(Read full card review)
Chase Freedom Flex

$200 cash bonus

$500 within first 3 months 4.8 / 5
(Read full card review)

A closer look at the best sign-up bonus credit cards

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Bank of America® Customized Cash Rewards credit card

Best for choice of cash back category

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Cardholders can select where they earn elevated rewards from the available categories and change their selection once per calendar month. The categories have uniquely broad merchant coverage. For example, the online shopping category is one of the most comprehensive available.

Flexibility seekers will benefit from this card. Consider it if you value a customizable rewards structure, since this card provides plenty of options. 

Cardholders who prefer flat-rate rewards can find more value in the Bank of America® Unlimited Cash Rewards Credit Card. You’ll be able to earn cash back on all your purchases while enjoying a similar welcome bonus and intro APR offer as the Bank of America Customized Cash Rewards.

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Chase Sapphire Preferred® Card

BEST TRAVEL SIGN-UP BONUS

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This card provides travelers with great flexibility. Your points are worth an extra 25 percent if you book through the Chase Ultimate Rewards portal, or you can transfer your points at a 1:1 ratio to Chase’s impressive list of airline and hotel partners.

People looking for a quick influx of points to fund upcoming travel, as the card has an exceptional sign-up bonus. Budget travelers will also get great value, if they don’t mind the annual fee.

If your flights are mostly domestic, the Southwest Rapid Rewards® Plus Credit Card could be a good option. It includes a strong welcome offer and an anniversary bonus that you can use toward future Southwest flights.

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Ink Business Unlimited® Credit Card

Best for business sign-up bonus

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A sign-up bonus as high as the Ink Business Unlimited’s is usually reserved for credit cards with an annual fee. It also comes with an introductory APR offer on purchases.

New small-business owners looking for an easy-to-use flat-rate credit card with no annual fee.

The Chase Freedom Flex is a great choice for business owners looking for a personal everyday card. It has stronger rewards rates, a good intro APR and an accessible welcome bonus that makes this card a well-rounded alternative.

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Southwest Rapid Rewards® Plus Credit Card

BEST AIRLINE SIGN-UP BONUS

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As a frequent Southwest flyer, you’ll receive many benefits, including reimbursements for lost luggage up to $3,000 per passenger and insurance for delayed luggage up to $100 per day for three days automatically. Plus, you can check your bag for free (size and weight limits apply).

Frequent Southwest flyers looking for a travel card with a low annual fee.

For those who don’t often spend big – travel or otherwise – the Citi Rewards+® Card may be a better fit. On top of its high rewards rates for Citi Travel, it also has a feature that rounds up all cash back earned to the nearest 10 points.

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Citi Rewards+® Card

Best for rounding up rewards

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The round-up feature is a unique perk of this card. Cardholders will see points rounded up for every purchase to the nearest 10 points. So, a $3 coffee earns 10 ThankYou points.

Everyday shoppers who make lots of small purchases will benefit from this card. The rewards structure means cardholders earn respectable  rewards through everyday spending.

While the roundup feature is nice, travelers may not get the most value out of the card. The Chase Sapphire Preferred is one of the best travel cards on the market, featuring a strong welcome bonus, $50 annual hotel credit when booking through Chase’s travel portal and 10 percent anniversary bonus.

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Chase Freedom Flex℠

Best for rotating cash back categories

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It’s one of the few cards with an elevated rewards rate on drugstore purchases, plus it comes with quarterly bonus categories. It also offers a solid rewards rate on dining.

People who like to earn boosted cash back in multiple categories will find it offers the opportunity to earn rewards in many areas.

The Bank of America® Customized Cash Rewards credit card has cash back similar to the Chase Freedom Flex but has some key differences that add to its value. Cardholders can change their cash back category once per calendar month, giving it additional flexibility. You also have potential to get a lower APR after a generous intro APR period.

The information about the Chase Freedom Unlimited® and Chase Freedom Flex℠ has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

 

What is a sign-up bonus?

A sign-up bonus — also known as a welcome bonus, intro bonus or welcome offer — is an incentive a credit card issuer offers potential applicants to sign up for a credit card. A sign-up bonus can come in the form of cash back, points, travel miles or another perk offered by the credit card issuer. To receive a sign-up bonus, a cardholder usually has to spend a certain dollar amount on purchases within a specified period (usually three months, but six months or even a year isn’t unusual). 

Types of welcome offers

Sign-up bonuses are typically distributed as additional cash back, points or miles. However, there are also other types of welcome offers to watch for that can be just as valuable — if not more so.

  • Invest

    Traditional bonus points, miles or cash back

    These offers are quite common, and let you earn a set amount of cash back or number of miles or points based on a specific spending requirement. The bonuses , and are usually worth around $150 to upwards of $1,000, and they tend to vary depending on your annual fee and the required spend. For example, a no-annual-fee cash back card may offer a $200 cash bonus after spending $500 on purchases within three months.
  • Credit Card Balance Transfer
    Two-stage bonuses
    A two-stage bonus usually operates like a traditional sign-up bonus, providing a typical bonus value and spending requirement within the first three months. However, you may be able to double that value by reaching a larger total spend within the first six months.
  • Dollar Reload

    Reward-matching offers

    This welcome offer doesn’t state an upfront value but instead matches the rewards you earn within a set period, making it a valuable opportunity for big spenders. The most famous example is Discover’s first-year Cashback Match offered on all of the issuer’s rewards cards.
  • Add Card
    Approval bonuses
    Rarely, a credit card may provide an upfront bonus the moment you’re approved for the card instead of requiring you to spend a certain amount in a set period. An offer like this is more likely among store credit cards, such as the Amazon gift card usually granted with the Prime Visa card.
  • Cd Rates

    Increased rewards rates

    Some credit cards offer to increase the card’s rewards rates for a limited time — or until you hit a spending limit. If you apply for the Chase Freedom Unlimited®, you’ll earn an additional 1.5 percent cash back on top of your purchase’s original cash back rate for the first year (on up to $20,000 in purchases).
  • Clock Wait

    Limited-time bonus categories

    Like an increased rewards rate offer, a credit card may occasionally offer an additional bonus category to add to your current roster for a set period or until you reach a certain spending threshold. A bonus of this kind may allow you to earn 3 percent cash back on grocery store purchases (usually excluding wholesale clubs and superstores, like Walmart) for six months or until you’ve made $6,000 in category purchases, for instance.
  • Congrats

    Additional perks, credits and other limited-time offers

    There are several cases of major credit cards offering a valuable perk like statement credits or complimentary elite loyalty status (such as for a hotel or airline brand) instead of bonus cash back, points or miles. Southwest Airlines credit card’s acclaimed bonus Companion Pass is an excellent example, which comes and goes as a limited-time offer. It’s notably valuable since it allows you to skip the qualifying flights and other requirements to let a travel companion fly free for a year or more (taxes and fees excluded). Since an offer like this could save you thousands, it can be much more valuable than a typical sign-up bonus.

Pros and cons of sign-up bonus credit cards

There's a good and a bad side to using a credit card with a sign-up bonus. Before you apply, consider the pros and cons:

Pros

  • Checkmark

    Competitive offers: The credit card market is highly saturated, which works in the consumer’s favor, as card issuers are willing to offer strong sign-up bonuses to make their credit card more attractive to applicants.

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    Versatile redemptions: Depending on the card, a sign-up bonus can be a lump sum of cash back, points or miles. That means the right card can help you reduce balances or trim the costs of future purchases.

  • Checkmark

    Added value: When used responsibly, a credit card helps you build or maintain your all-important credit score and credit history. A sign-up bonus takes the value of a credit card even further by allowing you to earn extra rewards that can be worth hundreds of dollars.

Cons

  • Spending requirements: To earn the sign-up bonus, you’ll have to spend a certain amount on the credit card in a limited time. Make sure the spending requirement fits your budget before applying for a card.

  • Higher interest rates: Rewards credit cards typically carry higher interest rates. If you carry a balance from month to month, the interest you pay will diminish the value of the rewards and sign-up bonuses you earn.

  • Requires good credit: Most credit cards with sign-up bonuses require good or excellent credit. Not there yet? Making on-time payments and keeping your account balances low are two of the most important ways to build credit fast.

How to choose the best sign-up bonus

When considering a credit card with a sign-up bonus, be especially mindful of the spending requirement and how it will impact your budget. If you’re looking to snag a welcome offer, there are some questions you should keep top of mind:

Can you meet the spending requirement?

If a sign-up bonus requires spending more than you usually would, it may be wise to think twice before applying. Overspending on a credit card to meet a welcome offer requirement could lead to debt and consequently, make the card’s sign-up bonus far less valuable to you by incurring interest payments.

Is the bonus worth it?

If you’re earning a cash back bonus, then what you get is fairly straightforward, but if you’re earning points, miles or some other type of offer (like a cash back match, airline companion certificate or limited-time bonus rewards category), it’s key to put them on the same playing field by calculating the likely value you’ll receive from each. For example, if two cards offer a 60,000-point sign-up bonus but Card A’s points are worth 1 cent each and Card B’s points are worth 1.5 cents — but only toward an airline transfer partner you’re not likely to use — then Card A’s bonus may be a better fit for you.

What can you redeem the bonus for?

While sign-up bonuses are convenient for helping to cover the cost of an annual fee, it’s important to consider how you’ll be able to use the points, miles or statement credit you receive. With certain issuers, you’ll want to evaluate their list of transfer partners to try extract maximum value when redeeming your bonus. With others, it may be more worthwhile to use the proceeds to cover an existing balance.

Will you continue to use the card?

Knowing what type of rewards you want to earn is essential when choosing a card for its sign-up bonus. If you want to earn free nights at a particular hotel or reduced prices on flights with a specific airline, then you should sign up for cards that align with those goals over a card that offers a generous sign-up bonus but only earns cash back rewards.

If you anticipate canceling your card after receiving the sign up bonus, familiarize yourself with your issuer’s terms and conditions. In some cases, the issuer will take back the bonus if the card is canceled within a certain period so plan to keep the card open at least as long as the policy stipulates. In fact, frequently closing and opening new accounts can be a red flag for issuers and cause you to be ineligible to open new accounts or receive a future bonus.

How to earn a sign-up bonus

Credit card sign-up bonuses can offer great rewards for those who take the time to research and compare offers. When signing up for a credit card, make sure you understand the terms and conditions so you know what kind of bonus you'll receive and how much spending is necessary to qualify. With careful planning and budgeting, you can use a sign-up bonus to your advantage and reap the benefits.

If you fulfill the issuer's spending requirements within the time frame specified, you can expect to see your sign-up bonus reflected in your account within six to 12 weeks, depending on the particular issuer. If you’ve met the requirements, waited that time and still haven’t received your sign-up bonus, contact your issuer.

What happens after you earn the sign-up bonus

Credit card sign-up bonuses are a great way to earn extra rewards on your purchases. But is it worth keeping the card after you have earned the bonus? 

Generally, to protect your credit score, you should plan to keep the card open. That’s why it’s a good idea to choose a card that fits your spending habits and individual needs, rather than opening a card purely for the sign-up bonus. You should also look for recurring benefits, such as annual credits, to make sure that the card maintains its value beyond the sign-up bonus

If a card has an annual fee but short-term value, one option is to downgrade to a no-annual-fee card, if possible. 

How to calculate the value of a sign-up bonus

It’s important to calculate the value of a sign-up bonus through the lens of your own personal needs and goals. 

For example, if you love travel and want to earn points toward travel rewards, then you'll want to look for a card that offers a sign-up bonus with generous points or miles values. But if you're more interested in cash back rewards, then you might want to focus more on the cash back redemption value of the sign-up bonus.  

It isn't just about choosing between rewards programs or deciding what kind of perks appeal to you — it's also about finding a card that fits your budget and meets your financial goals.

Who should apply for a card and its sign-up bonus?

If you’re already in the market for a credit card, it may be tempting to apply immediately if its welcome offer catches your eye. However, it’s better to scope out competing cards’ offers and research whether the current sign-up bonus is the best the card has offered (or when the best offer may return). Rewards cards that generally keep the same terms and features may not cycle out sign-up bonuses much (especially those with no annual fee), but premium cards known for a teeming list of perks tend to increase their sign-up bonuses more often.

In the news: How to use a sign-up bonus to pay for your vacation

Some issuers upgraded their sign-up bonuses for their cards just in time for late summer travel. With travel prices increasing, a strong sign-up bonus can help recoup some of your expenses. This is especially true with travel cards, which often have the best bonuses and redemption for airfare and hotels.

Former Bankrate expert Meredith Hoffman navigates the top strategies for using a sign-up bonus to fund your trip, how long a bonus may take to earn and the best credit cards and rewards programs for getting you to your destination. Using a reference such as Bankrate’s travel toolkit can also help you find the best tips and guidance on travel credit cards, travel hacks and more. 

How we assess the best credit card sign-up bonuses

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250+
cards rated
Congrats
50+
rewards programs valued
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5000
data points analyzed
Credit Card Reviews
40+
perks evaluated

When evaluating the best credit card for sign-up bonuses, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest. 

We analyzed over 250 of the most popular credit cards and selected standouts with sign-up bonuses. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more to determine whether it belonged in this month’s roundup. 

Here are some of the key factors that we considered:  

Frequently asked questions about credit cards with sign-up bonuses