Credit card providers are courting customers in a big way in early 2023, and they’re using up-front bonuses to get the job done.
“Credit card sign-up bonuses can offer great value if you find the right deal,” said Debt Hammer founder Jake Hill. “Ultimately, it's important for any consumer shopping for a new credit card to keep in mind what kind of value the provider has to offer and whether the customer is looking for an introductory bonus or an impressive cashback program when signing up for a new card.”
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Six Solid Credit Card Sign-up Offers
Of course, some up-front credit card deals are better than others. Credit card experts point to these offers as being among the best.
The Platinum Card from American Express: This card deal offers 80,000 points after spending $6,000 in your first six months.
“Beloved by travelers, this card also offers a lot of everyday value, such as lifestyle credits for everything from a Walmart-plus membership to Uber/Uber Eats credits, free or discounted streaming subscriptions, and more),” Bankrate senior industry analyst Ted Rossman. “We value each of these points at 2.1 cents apiece, which would make the sign-up bonus worth about $1,680.”
Chase Sapphire Preferred: This card’s opening offer is 60,000 points after spending $4,000 in your first three months. “This is a popular mid-tier travel card with an annual fee of $95,” Rossman noted. “We peg each point at 2 cents apiece, making the bonus worth $1,200.”
Wells Fargo Active Cash. Wells Fargo is offering $200 after spending $1,000 in your first three months. “This is a very straightforward no annual fee cash back card that gives 2% back on everything you buy,” Rossman added. “That's a solid option with mass appeal.”
American Express Platinum Card. The Amex card currently offers 80,000 points after spending $6,000 within the initial six months of card membership. “Based on reliable assessments, that outstanding offer is easily worth $1,600,” said iCash senior investment advisor Steven Holmes.
The Ink Business Unlimited Credit Card and Ink Business Cash Credit Card. Both of these cards have no annual fees and continue to provide equal (and best-ever) bonuses of $900 if you spend $6,000 on purchases in the first three months of opening an account.
“It's critical to time your application for when there is a good offer because many issuers have limitations on how frequently you can receive a bonus on a card,” Holmes told TheStreet. “Additionally, larger bonuses only last for a short time, so if you're considering accepting one of these offers, you should do it as soon as possible.”
American Express Blue Cash Preferred Card. The Blue Cash card offers up to 6% cash back on select U.S. grocery store purchases, 3% cash back on U.S. gas station purchases, and 1% back on all other purchases.
“It also comes with a sign-up bonus of $200 back after you spend $1,000 in purchases within the first three months of card membership,” said Digital Honey founder Garit Boothe. “It's an attractive offer for anyone looking to maximize their rewards from everyday purchases.”
Be Smart With New Credit Card Offers
Consumers should be careful with new card offers and learn how to manage any up-front deals with diligence and caution.
“Credit card rewards are only worth pursuing if you can pay your bills in full to avoid interest (the average credit card charges a record-high 19.95%),” Rossman noted. “Also, make sure you're not overspending to earn the sign-up bonus.”
