Team Clark spent hours reviewing the market for credit card sign-up bonuses and evaluated them according to the guidelines for usage set by money expert Clark Howard.
Clark believes credit cards with exorbitant annual fees are a bad idea for most consumers. So, for the purposes of these rankings, we eliminated from consideration any card with an annual fee of more than $100. (Team Clark will soon have an article on the best credit cards sign-up bonuses from cards with higher annual fees.)
In addition to sign-up bonuses, we considered factors like rewards programs, introductory APR and bonus categories when assembling the list. You can read our methodology here.
Here are the top options for 2023:
Top Sign-Up Bonus Credit Cards Right Now
Chase Sapphire Preferred® Card
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Citi Premier® Card
Offer: Earn 60,000 bonus ThankYou® Points
Offer Disclaimer: after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.
Annual Fee: $95 (See Rates & Fees)
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Capital One Venture Rewards Credit Card
Offer: Enjoy a one-time bonus of 75,000 Miles
Offer Disclaimer: once you spend $4,000 on purchases within 3 months from account opening
Annual Fee: $95
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Blue Cash Preferred® Card from American Express
Offer: Earn a $250 statement credit
Offer Disclaimer: after you spend $3,000 in purchases on your new Card within the first 6 months.
Annual Fee: $0 intro annual fee for the first year, then $95. (See Rates & Fees)
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Wells Fargo Active Cash® Card
Offer: Earn a $200 cash rewards bonus
Offer Disclaimer: When you spend $1,000 in purchases in the first 3 months.
Annual Fee $0.00
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Wells Fargo Autograph Card
Offer: Earn 30,000 bonus points when you spend $1,500 in purchases in the first 3 months.
Offer Disclaimer: when you spend $1,500 in purchases in the first 3 months.
Annual Fee: $0.00
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Discover it® Cash Back
Offer: Unlimited dollar-for-dollar match of all the cash back you’ve earned at the end of your first year.
Annual Fee: $0.00
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Sign-Up Bonus Selection Methodology
There are some caveats to shopping for cards with sign-up bonus offers. Here are four things to consider before picking your favorite from the list:
- I considered only those cards that carry an annual fee of $100 or less. While there are some great welcome offers for credit cards with annual fees that can be as high as $700, Clark believes most consumers are best served by avoiding large annual fees. Team Clark will cover sign-up bonuses for credit cards with higher annual fees in a future article.
- I included both cash back and rewards points bonuses. Sometimes it can be confusing to find an actual value for rewards points because the cash-equivalent value of those points can fluctuate based on how you redeem them. In the case of rewards points bonuses, note that there sometimes is no cash value.
- You may get a welcome offer for a card that’s different from the offer listed in this article. Welcome offers can vary based on a number of factors, such as date and location. I checked these offers in various web browsers over multiple days to get the most recent and accurate information possible, but please note that your results may vary.
- Clark’s philosophy is that you should never carry a balance on a rewards credit card. All welcome offer advice issued here is given with the assumption that you’ll pay your bill in full each month as part of following Clark’s seven rules for using credit cards.
Clark Howard on Sign-up Bonuses for Credit Cards
If you’re in the market for a new credit card in 2023, you may be hoping to cash in on the hundreds of dollars in sign-up bonuses offered to new customers.
Welcome offers and offers are a marketing tool that credit card issuers use to lure new customers: They offer the chance to score extra rewards points or get cash back for a limited time. Some are easy to get if you spend a relatively small amount on your new card. Others offer a greater cash reward but may carry an annual fee and require that you spend heavily right away.
Money expert Clark Howard cautions against making a long-term decision for a short-term reward.
“I never want people to be so enamored with the sign-up bonus that they end up with a card that over time will ultimately under-reward,” Clark says. “The credit card issuers are making an assumption that you’re going to be really profitable over time for them. So often the bonus will be really generous, but the card itself will be pretty rotten.”
Clark Howard acknowledges that shrewd credit card customers can “game the system” by jumping from one welcome offer to another, but he believes that most consumers are going to find themselves unable to keep up.
A welcome offer can be a great way to pocket a few hundred bucks during your honeymoon period with a new card. But it’s important to remember there are many other factors that determine whether a credit card is the right long-term fit for you. Clark believes you should focus on long-term factors: your APR, annual fees and rewards programs.“If you’re the kind of person who will get hooked by a signing bonus but won’t do anything about switching credit cards later — you’ve got to make sure that moving forward the card is still a good deal for you,” Clark says.
Chase Sapphire Preferred® Card
Citi Premier® Card
Annual Fee:
$95 (See Rates & Fees)
Rewards Program Details:
Earn 3 Points per $1 spent at Restaurants and Supermarkets. Earn 3 Points per $1 spent at Gas Stations, Air Travel and Other Hotels. Earn 1 Point per $1 spent on all other purchases.
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Offer: Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024. |
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Annual Fee:
$95
Rewards Program Details:
2 Miles per dollar on every purchase, every day. 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
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Offer: Enjoy a one-time bonus of 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening |
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Annual Fee:
$0 intro annual fee for the first year, then $95. (See Rates & Fees)
Rewards Program Details:
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
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Offer: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Terms apply. |
Wells Fargo Active Cash® Card
Annual Fee:
$0.00
Rewards Program Details:
Earn unlimited 2% cash rewards on purchases with no categories to track or quarterly activations. |
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Offer: Earn a $200 cash rewards bonus when you spend $1,000 in purchases in the first 3 months. |
Wells Fargo Autograph Card
Annual Fee:
$0.00
Rewards Program Details:
Earn unlimited 3X points on the following: Restaurants: dining in, take-out, catering, delivery and more Plus, earn 1X points on other purchases. |
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Offer: For a limited time, earn 30,000 bonus points when you spend $1,500 in purchases in the first 3 months. That’s a $300 cash redemption value. |
Discover it® Cash Back Credit Card
Annual Fee:
$0.00
Rewards Program Details:
5%Cash Back:
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
1% Cash Back
Earn 1% cash back on all other purchases – automatically.
Unlimited Cashback Match:
With Cashback Match, get an unlimited dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
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Offer: Earn a dollar-for-dollar match on your cash back earned during the first year of card membership. |
To see the rates and fees for the American Express cards featured, please visit the following links: Blue Cash Preferred® Card from American Express: See Rates and Fees.