The Ultimate Guide to Credit Cards
Saturday, November 28, 2020

15 Best Bank Bonus Credit Cards (2020)

Bank Bonus Credit Cards

credit card advice

Brittney Mayer
By: Brittney Mayer
Updated: April 7, 2020
Advertiser Disclosure

Every time you use your favorite credit card to make a purchase, the merchant must pay the credit card issuer a fee for the pleasure of collecting your money. While the specific fee varies by issuer, it’s generally around 2% of your purchase price — and that adds up quickly.

Because these purchasing fees are a big part of how many issuers make their money, it’s in each one’s best interest to encourage you to use its brand of card over its competitors. As the credit card market becomes increasingly saturated, however, issuers have needed to incentivize the use of their particular cards.

It was then that credit card rewards were born — and so, too, was their supersized sibling: the signup bonus. Fairly brimming with potential points and cash back, cards with succulent signup bonuses can be found from nearly every major bank. Let’s take a look at some of our experts’ top picks for the best bank bonus cards on the market today, including cash back bonuses, travel bonuses, and points bonuses.

Cash Back | Travel | Points

Top “Cash Back” Bank Signup Bonuses

The simplest of the credit card rewards, the cash back bonus is exactly what it sounds like: the bank or issuer gives you a portion of your spending back.

While this is usually a statement credit, not actual paper currency, cash back rewards are essentially like having a rebate coupon that’s good everywhere your credit card is accepted.

When it comes to finding the best cash back signup bonus, you’ll want to look at the minimum spending requirement; most signup bonuses have them. Make sure you can afford to pay off your purchases, or you may spend more on interest payments than what you receive in cash back rewards. You’ll also want to look out for annual fees, which can put a dent into any bonus.

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn unlimited 1.5% cash back on all other purchases.
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

With a minimum spending requirement attainable by most credit card users, the Chase Freedom Unlimited® has a solid signup bonus offer. You’ll also get an introductory 0% APR on new purchases, giving you a little more wiggle room to repay your purchases.

2. Discover it® Cash Back

This card is currently not available.

Cash Back Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

The Discover it® Cash Back did away with the spending requirement, instead offering a a unique year-end bonus that can really add up. This puts the amount of your signup bonus in your hands, and there’s no limit to how much you can earn.

Chase Freedom FlexSM Review

at the issuer'ssecure website

CASH BACK RATING

★★★★★
4.9

OVERALL RATING

4.9/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

Those interested in the Chase Freedom Unlimited®, but whose spending fits into a few key categories, should instead look at the Chase Freedom FlexSM. The Chase Freedom FlexSM has the same solid signup bonus offer, as well as 5% cash back in rotating categories such as groceries and gas.

4. Capital One® Savor® Cash Rewards Credit Card

This card is currently not available.

Cash Back Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

If your monthly spending is enough to hit the minimum requirement, the Capital One® Savor® Cash Rewards Credit Card signup bonus is a good choice. Not only is it one of the larger cash back signup offers, but the card also offers up to 4% cash back.

CASH BACK RATING

★★★★★
4.7

OVERALL RATING

4.8/5.0
  • One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.49%-25.49% variable APR after that
  • Pay no annual fee or foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

The Capital One Quicksilver Cash Rewards Credit Card has a good-sized signup bonus with a very attainable minimum spending requirement, making it a top choice for cash back signup bonus offers.

Top “Travel” Bank Signup Bonuses

Although cash may be king in many respects, when it comes to credit card rewards, it’s not always best. Anyone who travels regularly may prefer to earn miles, which often give you a greater dollar value per mile when redeemed for travel expenses like airline flights or hotel stays.

Travel rewards signup bonuses will have similar minimum spending requirements as those required for cash back bonuses, so be sure you can meet them if the bonus is your goal.

You’ll also want to make sure you can redeem your travel rewards with the specific airlines or hotel chains you use while traveling, as well as investigating the blackout dates or other availability restrictions.

AIR MILES RATING

★★★★★
5.0

OVERALL RATING

4.9/5.0
  • Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months
  • Earn unlimited 2X miles on every purchase, every day
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Redeem on travel—from vacation rentals to car rentals and more. Plus transfer your miles to over 10+ travel loyalty programs
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.24% - 24.49% (Variable)
$95
Excellent, Good

The rewards from your Capital One Venture Rewards Credit Card signup bonus can be redeemed in a few ways. You can redeem through Capital One® to cover eligible card purchases with any airline or hotel, so you can use your favorite brands. Or, transfer miles to a qualifying airline loyalty program to turn them into branded frequent flyer miles. The minimum spending requirement might be a little hefty for some, so make sure you don’t get in over your head.

AIR MILES RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent

With a whopping signup bonus worth up to $0.0125 per mile when redeemed for travel, the Chase Sapphire Preferred® Card is a stellar choice and the best value of the bunch. Of course, that’s provided you comfortably meet the large spending requirement without getting stuck with a bundle of interest charges.

AIR MILES RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 10+ travel loyalty programs
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

For those who like the Capital One Venture Rewards Credit Card but don’t feel they can meet the large spending requirement, the Capital One VentureOne Rewards Credit Card is a good alternative. You can get the same blackout-free redemption through Capital One, but with a slimmed down signup bonus and spending requirement.

9. Discover it® Miles

This card is currently not available.

Air Miles Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

The Discover it® Miles comes with the same twist on the signup bonus as its cash back card. It’s a generous offer that can provide a lot of miles that translate to free travel accommodations in the future.

AIR MILES RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99%-20.99% Variable
$95
Good/Excellent

With a good-sized signup bonus, the Ink Business Preferred® Credit Card can get you the most rewards when you redeem for travel through the Ultimate Rewards® portal or transfer to an eligible hotel or airline partner.

Top “Points & Rewards” Bank Signup Bonuses

Don’t want to be limited to cash back rewards, but not really into travel? Don’t fret, you still have tons of options for quality signup offers, including cards offering flexible points and unique bonuses.

Points and rewards cards offer greater versatility in the types of goodies you can redeem your rewards for, with options ranging from gift cards to your favorite stores and restaurants to brand-name merchandise direct from the issuer.

As always, keep an eye on minimum spending requirements and potential annual fees that can cut into your bonus. You’ll also want to make sure the individual rewards program offers the type of redemption options for which you’re looking.

POINTS & GIFTS RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent

POINTS & GIFTS RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99%-23.99% Variable
$550
Good/Excellent

Both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® earn the popular Ultimate Rewards. And while you may get top dollar when you use your  for travel purchases, that’s not the only way to redeem your points. Your Ultimate Rewards® points can also be used for things like gift cards, or even be redeemed for cash.

POINTS & GIFTS RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99%-20.99% Variable
$95
Good/Excellent

The Ink Business Preferred® Credit Card card not only earns Ultimate Rewards® points, but the card also offers a significant signup bonus for those who can meet the spending requirement.

CITI® RATING

★★★★★
4.6

OVERALL RATING

4.6/5.0
  • Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening
  • Earn 2X ThankYou® Points at supermarkets & gas stations for the first $6,000 per year and 1 point per $1 spent thereafter
  • Earn 1 ThankYou® Point per $1 spent on all other purchases
  • Automatically rounds up to the nearest 10 ThankYou® Points on every purchase - with no cap, and get 10% Points Back for the first 100,000 ThankYou® Points you redeem per year
  • 0% Intro APR offers on purchases and balance transfers (balance transfer fee applies)
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
13.49% - 23.49% Variable
$0
Good/Excellent

Another incredibly flexible rewards program, the signup bonus you get from meeting the moderate spending requirement on the Citi Rewards+℠ Card can be redeemed for travel, entertainment, or retail purchases. You can even make a contribution to your favorite charity using ThankYou points.

Bank of America® Travel Rewards Credit Card Review

at Bank Of America'ssecure website

EXPERT'S RATING

★★★★★
4.7

OVERALL RATING

4.7/5.0
  • Earn 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening – which can be redeemed for a $250 statement credit toward travel purchases
  • Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time, and no expiration on points
  • Enjoy no annual fee and no foreign transaction fees while earning points to use for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Introductory 0% APR offer on purchases
  • Preferred Rewards members earn 25%-75% more points on every purchase. That means you could earn up to 2.62 points for every $1 you spend, everywhere, every time.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 12 billing cycles
N/A
14.99% - 22.99% Variable
$0
Excellent/Good

The Bank of America® Travel Rewards Credit Card not only offers a solid signup bonus, but it also comes with an unlimited 1.5 points for every $1 you spend — making it a simple way to earn points everyday.

The Best Way to Earn While You Spend

In today’s world, many of us would rather use plastic than paper — at least when it comes to how we make our purchases. And while rewards programs and signup bonus offers aren’t the only reasons we like to swipe when we buy, they certainly seem to be the effective incentive the issuers intended them to be.

Regardless of how sweet the deal may appear, however, remember that interest payments can add up quickly, so never spend more than you can afford to pay back in a timely manner. Signup bonuses are little good if you spend more than they’re worth trying to pay off your credit card.

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