I love credit cards and how aggressively they compete with one another for our business. If you aren’t carrying any credit card debt and have a pretty good credit score, you can be taking advantage of the cut-throat competition and researching a credit card that will reward you for your business.
Even with travel coming to a standstill because of the Coronavirus, some credit card companies are still offering aggressive bonuses but extending the time in which you can meet those minimum spends. Some companies, like Chase, are adding tools to help you know how much you need to spend to reach a bonus – a nice addition that helps you avoid missing out on a bonus.
Your mix of optimal credit cards will vary from ours. If you routinely fly a certain airline, that airline’s card should be higher on your list because you are more likely to use those points or miles. We don’t list every loyalty program’s credit card, that wouldn’t be feasible, so we tried to list the most aggressive offers with the broadest appeal.
If you always fly with an airline or have status with a hotel, you should always check those first and compare it with a card that offers a broader rewards structure, like Chase Ultimate Rewards, to see which is best.
Finally, remember Chase has a 5/24 rule. If you’ve been approved for 5 cards in the last 24 months, they will decline you automatically.
Below is a list of the best credit card bonus offers, updated for this month:
Table of Contents
- What’s New?
- 1. Chase Sapphire Reserve – 60,000 Ultimate Rewards points
- 2. Chase Freedom Flex – $200
- 3. Blue Cash Preferred – $300 statement credit
- 4. Southwest Rapid Rewards Plus Credit Card – 40,000 points
- 5. Capital One Quicksilver Cash Rewards Credit Card – $200
- 6. Wells Fargo Cash Wise Visa Card – $150
- 7. Marriott Bonvoy Boundless – 75,000 bonus points
- 8. Capital One Venture Rewards Credit Card – 100,000 miles
- 9. Hilton Honors American Express Surpass Card – 130,000 Hilton Honors Points
- 10. Ink Business Credit Cards
- Capital One Spark Business Cards
With the economic strain on many American families, there hasn’t been a lot of activity in the bonus market the last few months but I suspect things will recover quickly as vaccines get into arms and people get back to work:
1. Chase Sapphire Reserve – 60,000 Ultimate Rewards points
Chase often leads the pack because of their generous Chase Ultimate Rewards program. With this card, you will get 60,000 Ultimate Rewards points after you spend $4,000 in purchases within the first three months. You also earn 3X points on travel and dining purchases and 1x everywhere else.
For reference, 50,000 Chase Ultimate Rewards points are worth approximately $750 on the Chase Ultimate Rewards platform.
This card is for travelers because you also get $300 in travel credit, 50% more value when you redeem points for travel through Chase Ultimate Rewards, and you get up to $100 application reimbursement for Global Entry or TSA PreCheck. There’s a sizable $550 annual fee – offset by all the bonuses. It’s a direct competitor to the American Express Platinum.
Why We Love It: Chase Sapphire Reserve has a great welcome bonus offer with a reasonable spend requirement plus a generous travel credit and the best rewards program in Chase Ultimate Rewards.
2. Chase Freedom Flex – $200
The Chase Freedom Flex card will give you $200 after $500 in purchases in the first 3 months. You can also earn 1% on all other purchases.
It also offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter (must be activated)
All this is available to you with $0 annual fee.
Why We Love It: A low spend required to get a $200 welcome bonus. Plus a higher cash back rate for rotating categories means you can really get solid cash back with this card.
Chase Freedom Unlimited is the cousin to the Chase Freedom Flex Card and one key difference is that you earn 5% on travel purchases through Chase Ultimate Rewards, 3% at drug stores and dining, plus 1.5% cash back on all other purchases. $0 annual fee.
3. Blue Cash Preferred – $300 statement credit
The Blue Cash Preferred from American Express offers $300 statement credit after you spend $3,000 in purchases in the first 6 months.
It’s cashback rewards are solid – 6% on supermarkets, 3% at gas stations with no limit and 1% on everything else. There is a $95, $0 introductory annual fee for one year.
Why We Love It: If you want an American Express, this one offers one of the easiest welcome offers to get. When you consider that the cashback rates are good and that American Express has some solid credit card perks out there (especially for travelers), it makes this card very appealing.
4. Southwest Rapid Rewards Plus Credit Card – 40,000 points
If you fly a lot of Southwest Airlines, you should look at this card. You can get 40,000 points, worth hundreds in Southwest flights, when you spend $1,000 in purchases in the first 3 months.
You also earn 2 points for every $1 you spend on Southwest purchases and Rapid Rewards hotel and car rental partner purchases. You earn 1 point per dollar on all other purchases.
The best part about this is that the points count towards Companion Pass, one of the best airline perks, and one of the ways I initially got CP for me and my wife.
There is a $69 annual fee and you get 3,000 bonus points after your Cardmember anniversary, which helps defray the cost.
Why We Love It: This one is personal because we live near Baltimore Washington International, a major airport for Southwest, so we fly them a lot. If you do too, this is a crucial step in getting Companion Pass.
5. Capital One Quicksilver Cash Rewards Credit Card – $200
The Capital One Quicksilver Cash Rewards Credit Card will give you a $200 after you spend $500 on purchases within 3 months. This is on top of an unlimited 1.5% cashback on every purchase, which are great perks for a cashback card with no annual fee. There are no rotating categories to worry about, no juggling cards, just a simple high rate for everything.
If you’re in the market for a 0% offer, this card also has a 0% intro APR on purchases for 15 months. $0 annual fee.
Why We Love It: A low spend is required to get the welcome bonus of $200 and a simple 1.5% cash reward on all purchases. For simplicity, you really can’t beat it. Plus $0 annual fee!
6. Wells Fargo Cash Wise Visa Card – $150
Wells Fargo is best known for its banks but did you know about their Wells Fargo Cash Wise Visa Card? You can get $150 cash when you spend $500 in your first three months of account opening, one of the highest bonuses for that level of spend. You also get 1.5% cash rewards on all purchases plus 1.8% cash rewards when you use a “qualified mobile wallet purchase” like Apple Pay (first 12 months).
$0 annual fee too – very nice. We dig deeper into the Wells Fargo Cash Wise card if you wish to learn more.
Why We Love It: Yet another card that has a low spend required to get a $150 welcome bonus. Then, 1.5% cash reward on all purchases. For simplicity, you really can’t beat it.
7. Marriott Bonvoy Boundless – 75,000 bonus points
The Marriott Bonvoy Boundless Card from Chase has a great bonus of 75,000 bonus points after you spend $3,000 on purchases in the first 3 months of opening your account.
You get 6X points on spending at Marriott Bonvoy hotels, 2X on all purchases, and you even get a free night award each year. The annual fee is $95.
8. Capital One Venture Rewards Credit Card – 100,000 miles
The Capital One Venture Rewards card will give you 100,000 miles when you spend $20,000 on purchases within the first 12 months of opening the account, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months. You can transfer those miles to 12 travel loyalty programs.
One of the nice perks about this card is that you can get a $100 application fee credit for Global Entry or TSA PreCheck.
The annual fee is $95.
9. Hilton Honors American Express Surpass Card – 130,000 Hilton Honors Points
The Hilton Honors American Express Surpass Card will give you 130,000 Hilton Honors Points after you spend $2,000 in purchases within the first 3 months of Card Membership, plus earn a $150 statement credit after your first purchase on the Hilton Surpass Card within your first 3 months.. You also earn a free Weekend Night Reward from Hilton Honors after you spend $15,000 on the card in the calendar year.
On your spend, you earn 12X points per dollar spent at a hotel or resort in the Hilton Portfolio, 6X at restaurants, supermarkets and gas stations in the United States; and 3X on all other eligible purchases.
Lastly, when you spend $40,000 in a calendar year, you get Hilton Honors Diamond status through the end of the next calendar year. Diamond status comes with complimentary breakfast, upgrades, lounge access, premium internet, late check-out, 100% bonus on base points and a fifth night free when booking with points.
$95 annual fee.
10. Ink Business Credit Cards
I listed these cards last because they’re business credit cards and not everyone owns a business, but the rewards for these cards are incredible.
There are actually two Chase Ink cards I want to highlight – the Ink Business Cash and the Ink Business Preferred Credit Card. The big difference is that the Ink Business Cash Credit Card has no annual fee and a small bonus.
Chase Ink Business Cash Credit Card
You also earn $5 cash back on the first $25,000 spent at office supply stores, internet, cable, and phone services; 2% cash back on the first $25,000 spent at gas stations and restaurants; 1% cash back on all other purchases.
Best of all, the annual fee is $0.
Chase Ink Business Preferred Credit Card
The Ink Business Preferred Credit Card gives you 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening in the .. You also earn 3 points per $1 on the first $150,000 spent on travel and elect business categories plus 1 point per $1 on all other purchases with no limit.
There’s just a $95 annual fee.
Capital One Spark Business Cards
Capital One Spark Cash
The Capital One Spark Cash card has a bonus of $500 after you spend $4,500 in the first 3 months from account opening. It’s a business card with unlimited 2% cash back on every purchase but the welcome offer is solid.
This is on top of the great perks of the card which include free employee cards, convenient year-end summary reports, no foreign transaction fees and the ability to download transactions into Quicken, Quickbooks, and Excel.
The annual fee is $0 intro for the first year and then $95 after that.
Capital One Spark Miles
The Capital One Spark Miles is the miles version of the Capital One Spark Cash card. For a limited time, you can get 50,000 miles after you spend $4,500 in the first 3 months from account opening.
This card also features a lot of useful options for business owners including free employee cards, summary reports, no foreign transaction fees, and the ability to download transactions into Quicken, Quickbooks, and Excel.
The annual fee is $0 intro for the first year and then $95 after that.