Best credit card sign-up bonuses for March 2023

Bank of America Customized Cash Rewards credit card: Best for choice of cash back category

• This card is a good fit for: Flexibility seekers. Credit card users who value a customizable rewards structure will find plenty of options with this card.
• This card is not a great choice for: Big spenders. Your rewards rate will drop if your budgeted spending exceeds the $2,500 combined spending cap per quarter on the 2 percent and 3 percent bonus categories. Cardholders who reach this limit receive just 1 percent until the next quarter.
• What makes this card unique? Cardholders can select where they earn elevated rewards from six bonus categories and change their selection once per month. What’s more, the categories have uniquely broad merchant coverage. For example, the online shopping category is one of the most comprehensive available. 
• Is the Bank of America Customized Cash Rewards credit card worth it? Yes. The sign-up bonus is notable, but cardholders may find even more value in the elevated cash back rate earned at grocery stores and wholesale clubs.

Read our Bank of America Customized Cash Rewards credit card review or jump back to offer details.

Chase Sapphire Preferred Card: Best for biggest travel sign-up bonus

• This card is a good fit for: Budget travelers. This card is a strong choice if you’re seeking great travel rewards value that can help keep your travel costs in check for a relatively low annual fee.
• This card is not a great choice for: Luxury-seeking travelers. If you are seeking high-end perks, this card’s lack of airport lounge access and similar frills will likely disappoint.
• What makes this card unique? This card provides travelers with flexibility that’s unique among travel cards. You can transfer your points at a 1:1 ratio to Chase’s impressive list of airline and hotel partners.
• Is the Chase Sapphire Preferred Card worth it? Yes. If you earn the sign-up bonus, you recoup the cost of the annual fee, plus you’ll see a 25 percent boosted rewards value from points redeemed through the Chase Ultimate Rewards portal.

Read our Chase Sapphire Preferred Card review or jump back to offer details.

Chase Freedom Flex: Best for rotating cash back categories

• This card is a good fit for: Variety seekers. People who like to earn boosted cash back in multiple categories will find this card offers the opportunity to earn rewards in many areas.
• This card is not a great choice for: Simplicity seekers. Cardholders must remember to activate the new bonus categories each quarter, or they’ll see much less value from the card. The rotating bonus categories are announced quarterly rather than farther ahead of time. Some cardholders may also prefer a more reliable category roster since they’ll have to pay close attention to the cash back calendar and their purchase tracking.
• What makes this card unique? The Chase Freedom Flex comes with quarterly bonus categories, and cardholders can earn elevated rewards in various categories.
• Is the Chase Freedom Flex card worth it? Yes. The sign-up bonus is solid despite the relatively low spending requirement — cardholders earn a $200 bonus after spending just $500 on purchases in the first three months of account opening. However, the cash back value is standard for a no-annual-fee cash back card.

Read our Chase Freedom Flex review or jump back to offer details.

Citi Rewards+ Card: Best for rounding up rewards

• This card is a good fit for: Everyday shoppers. Cardholders can earn respectable travel rewards through their everyday spending.
• This card is not a great choice for: Travel rewards seekers. This card only earns basic ThankYou points, which cannot be transferred to travel partners.
• What makes this card unique? The round-up feature. Cardholders will see points rounded up for every purchase to the nearest 10 points. So, a $3 coffee earns 10 ThankYou points.
• Is the Citi Rewards+ Card worth it? Yes. The card has a doable spend requirement — $1,500 within the first three months of account ownership — for 20,000 points. And with no annual fee, plus an intro APR for 15 months on purchases and balance transfers (then 17.99 percent to 27.99 percent variable; transfers must be within the first four months and pose a 3 percent balance transfer fee, $5 minimum), you’ll get a lot of value from this card.

Read our Citi Rewards+ Card review or jump back to offer details.

Ink Business Unlimited Credit Card: Best for business sign-up bonus

• This card is a good fit for: New small-business owners looking for an easy-to-use flat-rate credit card that doesn’t charge an annual fee.
• This card is not a great choice for: Business owners looking to earn high rewards in specific bonus categories. A card with a tiered rewards structure — like the Ink Business Cash® Credit Card — would serve you better.
• What makes this card unique? 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 0 percent APR offer on purchases for 12 months (a variable APR of 17.74 percent to 23.74 percent applies thereafter).
• Is the Ink Business Unlimited Credit Card worth it? It depends. The card has a simple rewards structure and valuable perks, but the spending requirement might be high for some business owners.

Read our Ink Business Unlimited Credit Card review or jump back to offer details.

Southwest Rapid Rewards Plus Credit Card: Best for airline sign-up bonus

• This card is a good fit for: Frequent Southwest flyers. This card offers a fair rewards rate on Southwest purchases and the lowest annual fee among Southwest credit cards.
• This card is not a great choice for: Someone who only occasionally flies with Southwest Airlines. You will see less value from the card, as rewards redeemed for outside of Southwest travel are less lucrative.
• What makes this card unique? 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).
• Is the Southwest Rapid Rewards Plus Credit Card worth it? Yes. For frequent Southwest flyers looking for an inexpensive, no-hassle card, the low annual fee (only $69) and its lucrative rewards structure pack this card with a lot of value.

Read our Southwest Rapid Rewards Plus Credit Card review or jump back to offer details.

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.

A sign-up bonus — also known as a welcome bonus, intro bonus or welcome offer — is an incentive a credit card issuer offers 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).

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

• 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, and are usually worth around $150 to upwards of $1,000 based 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.
• 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. For example, the Capital One Spark Cash Plus offers an initial $500 cash bonus after spending $5,000 in the first three months, plus another $500 bonus once you’ve spent a total of $50,000 within the first six months.
• 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.
• 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 Amazon Prime Rewards Visa Signature Card.
• 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).
• 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.
• 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.

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:

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.

For instance, it’s a pretty safe bet that the Capital One Quicksilver Cash Rewards Credit Card will cling to its $200 cash bonus (after spending $500 on purchases within the first three months), but a premier travel, airline or hotel card is more likely to increase its welcome bonus around peak travel periods or the holiday season. This observation may hold true when it comes to store credit cards as well. Case in point, the Amazon Prime Visa Signature card’s gift card approval bonus usually increases around Amazon Prime Day and the winter holidays each year.

Other than trying to catch the biggest bonus, there are a few different times it may be wise to wait to apply to maximize your sign-up bonus. Waiting until you have large expenses or bills on the horizon can help you reach the spending requirement without straying from your planned spending. That way, you can also take advantage of the card’s intro APR periods to avoid accruing interest if you need more time to pay off your balance.

Similarly, applying for a travel card a few months ahead of a planned trip allows you to put your sign-up bonus toward your travel costs — which is especially helpful if you aren’t a frequent traveler. But be ready to pounce (responsibly, of course) in case your ideal card tacks on a limited-time offer.

For more information, read our expert reviews for individual cards and check out more resources from Bankrate.com:

• When to sign up for a new credit card
• Best cash back card welcome bonuses
• 4 ways to kick-start good habits with a new rewards credit card

Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate

After enduring the long winter months, many people look forward to planning their next warm-weather vacation. In the U.S., this will be the first summer in two years that travel will be largely unhindered by Covid-19, and travelers will surely be looking for options to offset some of the cost. 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.