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Credit Cards

The best credit card sign-up bonuses of May 2023

We analyzed the most popular credit cards available in the U.S. that are open to anyone and offer welcome bonuses to find the best ones based on your spending habits.

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The offers mentioned below for the for the Aeroplan® Credit Card are no longer available.

Credit card welcome bonus offers are an easy way to earn extra rewards during the first few months after you open an account. You typically need to meet spending requirements that range from $500 to $5,000, within the first three months after opening your account in order to earn the bonus.

Cash-back cards tend to have the lowest spending requirements with the best return rates, while travel rewards cards usually offer larger bonuses after you reach higher spending requirements. You should consider your budget before you sign up for a card with a good bonus offer and only take advantage of one if you're able to pay off your balance on time and in full. You don't want to pay big interest charges on your balance just because you were hoping to earn some extra bonus points.

The good news: There are a few cards that waive spending requirements altogether and reward you with a bonus immediately following account approval or after you make your first purchase.

CNBC Select analyzed over 100 cards that offer welcome bonuses and rounded up the best deals that can earn you over $1,000 in value, if you meet the requirements.

This month's top credit card welcome bonuses

Winner

Chase Freedom Flex℠

  • Rewards

    5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

  • Welcome bonus

    $200 cash back after you spend $500 on purchases in your first three months from account opening

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    19.74% - 28.49% variable

  • Balance transfer fee

    Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See our methodology, terms apply. Information about the Chase Freedom Flex℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Pros

  • No annual fee
  • Generous welcome bonus
  • Opportunity to earn up to 5% cash back in select categories upon activation
  • Rewards can be transferred to a Chase Ultimate Rewards card

Cons

  • Bonus categories must be activated each quarter
  • 3% fee charged on foreign transactions

Who's this for? The Chase Freedom Flex℠ has one of the best welcome bonuses around: Earn $200 cash back after you spend $500 on purchases in your first three months from account opening. That's like earning 40% back.

This card can help you maximize cashback in a variety of rotating categories. The 5% cash-back calendar changes every quarter and can include useful categories such as grocery stores. (Learn more about how Chase classifies bonus category purchases.)

Other great perks: Cardholders can take advantage of a competitive no-interest intro period for the first 15 months from account opening on new purchases and balance transfers (after, 19.74% to 28.49% variable APR). The Freedom card also provides cell phone protection and select partner benefits, such as 5% cash back on Lyft purchases through March 2025 and up to $10 back each quarter in statement credits for using Instacart, plus three free months of delivery through Instacart+ when activated by July 31, 2024.

Runner-up

Chase Freedom Unlimited®

On Chase's secure site
  • Rewards

    Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases

  • Welcome bonus

    Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back. That's 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    19.74% - 28.49% variable

  • Balance transfer fee

    Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

    3% of each transaction in U.S. dollars

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • No annual fee
  • Rewards can be transferred to a Chase Ultimate Rewards card
  • Generous welcome bonus

Cons

  • 3% fee charged on foreign transactions

Who's this for? The Chase Freedom Unlimited® is very similar to the Chase Freedom Flex℠ mentioned above and offers the same welcome bonus, which yields a 40% return. However, the Freedom Unlimited has a more straightforward cash-back program that doesn't require activating bonus categories, making it a better choice for those seeking simplicity.

Other great perks: Cardholders have access to travel benefits and protections such as auto rental collision damage waivers, trip cancellation and interruption insurance, travel and emergency assistance, purchase protection and extended warranty protection, as well as discounts with GoPuff, DoorDash and Instacart+.

Best for travel

Chase Sapphire Preferred® Card

On Chase's secure site
  • Rewards

    $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, 3X points on select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs), 2X points on all other travel purchases, and 1X points on all other purchases

  • Welcome bonus

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

  • Annual fee

    $95

  • Intro APR

    None

  • Regular APR

    21.24% - 28.24% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • Points are worth 25% more when redeemed for travel via Chase Ultimate Rewards®
  • Transfer points to leading frequent travel programs at a 1:1 rate, including: IHG® Rewards Club, Marriott Bonvoy™ and World of Hyatt®
  • Travel protections include: auto rental collision damage waiver, baggage delay insurance and trip delay reimbursement
  • No fee charged on purchases made outside the U.S.

Cons

  • $95 annual fee
  • No introductory 0% APR

Who's this for? The Chase Sapphire Preferred Card has a loyal following among travelers looking for a travel-centric rewards program and a robust suite of perks. This card also has a generous welcome bonus that's worth $750 toward travel when you redeem through Chase Ultimate Rewards® or more when redeeming points through Chase's transfer partners.

Other great perks: Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®. You can also get more value from the rewards program by taking advantage of Chase's airline and hotel transfer partners, including United Airlines, British Airways, World of Hyatt, Marriott Bonvoy and more.

Beyond rewards, this card comes with a number of helpful benefits, such as a $50 annual Ultimate Rewards Hotel Credit, no foreign transaction fees and baggage and trip delay insurance.

Best for low annual fee

Capital One Venture Rewards Credit Card

On Capital One's secure site
  • Rewards

    5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase

  • Welcome bonus

    Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening

  • Annual fee

    $95

  • Intro APR

    N/A for purchases and balance transfers

  • Regular APR

    20.74% - 28.74% variable

  • Balance transfer fee

    0% at the regular transfer APR

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • 5 miles per dollar on hotel and rental cars booked through Capital One Travel
  • Global Entry or TSA PreCheck application fee credit up to $100 every 4 years

Cons

  • No introductory APR
  • There’s a $95 annual fee

Who's this for? The Capital One Venture Rewards Credit Card is for people who want luxury benefits without paying the high annual fee of a premium credit card. It also offers a generous welcome bonus that's worth at least $750 in travel rewards, or potentially more if you transfer your miles to one of Capital One's travel partners.

Other great perks: Benefits include two complimentary airport lounge visits each year, a Global Entry or TSA PreCheck application fee credit every four years worth up to $100 and no foreign transaction fees. As an added plus, you can use your Venture Rewards card to get access to exclusive sporting and music events, plus premiere culinary experiences.

Best for premium perks

The Platinum Card® from American Express

On the American Express secure site
  • Rewards

    Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases

  • Welcome bonus

    Earn 80,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.

  • Annual fee

    $695

  • Intro APR

    None

  • Regular APR

    See Pay Over Time APR

  • Balance transfer fee

    N/A

  • Foreign transaction fee

    None

  • Credit Needed

    Excellent/Good

Pros

  • Up to $200 in annual airline fee credits
  • Up to $200 in annual Uber savings. Benefit renews annually.
  • Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card®.
  • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card®  on one or more of the following: Disney+, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment required.
  • $155 Walmart+ Credit: Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive a statement credit that covers the full cost each month. $12.95 plus applicable taxes. Plus Up Benefits not eligible.

Cons

  • $695 annual fee
  • No special financing offers on new purchases

Who's this for? The Platinum Card® from American Express is for those looking to travel in luxury and benefit from high rewards on eligible airfare and hotel expenses. It is currently offering a phenomenal welcome bonus of 80,000 Membership Rewards® points after spending $6,000 within six months of card membership. Many rewards experts value Amex points at 2 cents each when transferred to travel partners, making this offer worth a whopping $1,600.

The card comes with a steep annual fee but there are a number of perks that help offset it.

Other great perks:

  • Up to $200 annual hotel credit
  • Up to $200 annual airline fee credit
  • Up to $300 per calendar year Equinox credit
  • Up to $100 annual Saks Fifth Avenue credit
  • Up to $189 credit to enroll in CLEAR® Plus (subject to auto-renewal)
  • Up to $240 annual digital entertainment credit
  • Up to $155 annual Walmart+ credit. Plus Ups not eligible. Subject to auto renewal.
  • Worldwide airport lounge access, including Delta SkyClubs and Amex Centurion Lounges
  • Up to $200 annual Uber credit. Benefit renews annually.
  • $100 fee credit for Global Entry or up to $85 for TSAPreCheck
  • Automatic hotel elite status with Hilton Honors and Marriott Bonvoy
  • Comprehensive travel insurance
  • Complimentary Amex concierge service
  • Terms apply

Don't miss: The Amex Platinum is one of the most expensive cards on the market — is it worth the $695 annual fee?

Best for cash back

Capital One SavorOne Cash Rewards Credit Card

On Capital One's secure site
  • Rewards

    Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024, 8% cash back on Capital One Entertainment purchases, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel; Terms apply, 3% cash back on dining and entertainment, 3% on eligible streaming services, 3% at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases

  • Welcome bonus

    Earn a one-time $200 cash bonus after you spend $1,000 on purchases within the first 3 months from account opening

  • Annual fee

    $0

  • Intro APR

    0% intro APR on purchases and balance transfers for 15 months

  • Regular APR

    19.74% - 29.74% variable 

  • Balance transfer fee

    3%

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • 3% cash back on dining and entertainment purchases
  • Ability to redeem rewards at any amount, unlike some other cards with $25 minimums
  • Competitive special financing offer on both new purchases and balance transfers
  • No fee charged on purchases made outside the U.S.

Cons

  • 3% balance transfer fee on the amounts transferred within the first 15 months

Who's this for? The best cash-back credit cards have some of the simplest welcome bonus offers that provide great rewards with minimum spending requirements. The Capital One SavorOne Cash Rewards Credit Card offers a one-time $200 cash bonus once you spend $1,000 on purchases within the first three months from account opening. That's like earning 40% cash back.

This card's bonus spending categories are also great for foodies, entertainment gurus and frequent Uber users.

Other great perks: There is no foreign transaction fee associated with this card, and you can benefit from introductory no-interest on purchases for the first 15 months your account is open. After, there's a 19.74% - 29.74% variable APR (3% fee on the amounts transferred within the first 15 months).

This card also comes with numerous added perks, such as a free Uber One membership through Nov. 14, 2024, access to exclusive entertainment events (concerts, food experiences, sporting events), extended warranty protection (automatically doubles the original manufacturer's warranty on eligible purchases made with this card) and may include travel *accident insurance.

Best for no annual fee

Capital One Quicksilver Cash Rewards Credit Card

On Capital One's secure site
  • Rewards

    Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, 1.5% cash back on every purchase

  • Welcome bonus

    Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

  • Annual fee

    $0

  • Intro APR

    0% intro APR for 15 months on purchases and balance transfers

  • Regular APR

    19.74% - 29.74% variable

  • Balance transfer fee

    3% fee on the amounts transferred within the first 15 months

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • No annual fee
  • Low spending requirement for the welcome bonus
  • Redeem cash back for any amount at any time
  • No foreign transaction fee

Cons

  • 3% balance transfer fee during the first 15 months your account is open
  • No bonus rewards categories

Who's this for? The Capital One Quicksilver Cash Rewards Credit Card is a great choice for consumers looking for a no-annual-fee credit card that has a generous welcome bonus. Like the Capital One SavorOne Cash Rewards Credit Card mentioned above, the Quicksilver card's bonus provides a 40% return.

This card has a straightforward cash

-back program where you can earn 1.5% cash back on everything you buy. Cashback can be conveniently redeemed at any time and for any amount.

Other great perks: Cardholders can finance new purchases or transfer debt with a 0% intro APR for the first 15 months from account opening (then 19.74% - 29.74% variable APR; 3% fee on the amounts transferred within the first 15 months). The card also has no foreign transaction fee and may include travel *accident insurance, 24-hour travel assistance, extended warranty protection and access to premier culinary, entertainment and sports event experiences.

*Terms, conditions and exclusions apply.  Refer to your Guide to Benefits for more details.

Best for no spending required

Prime Visa

  • Rewards

    5% cash back at Amazon.com and Whole Foods Market; 5% back on purchases made through Chase Travel; 2% back on local transit and commuting, including rideshare; 2% back at restaurants, gas stations and drugstores; 1% back on all other purchases

  • Welcome bonus

    Earn a $150 Amazon gift card and 5% cash back on all purchases (up to $2,500 in purchases) for the first three months after account opening

  • Annual fee

    $0 (but Prime membership is required)

  • Intro APR

    None

  • Regular APR

    18.99% to 26.99% variable

  • Balance transfer fee

    5%, $5 minimum

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

Pros

  • No annual fee
  • $150 Amazon.com gift card upon approval, with no spending requirements
  • 5% back at Amazon.com and Whole Foods Market
  • No fee charged on purchases made outside the U.S.

Cons

  • Prime membership is required
  • The 5% back on groceries only applies to groceries bought on Amazon.com or at Whole Foods Market
  • Estimated rewards earned after 1 year: $792
  • Estimated rewards earned after 5 years: $2,960

Rewards totals incorporate the points earned from the welcome bonus

Who's this for? The Prime Visa, issued by Chase, is one of few cards that award a welcome bonus automatically after account approval. If you're approved for this card, you'll instantly receive a $100 Amazon.com gift card. This welcome bonus is a great way to fund an Amazon purchase or offset the cost of your Prime membership, which is required to open this card and currently costs $139 annually or $14.99 a month.

Other great perks: This card doesn't have an annual fee (except for the Prime membership requirement) and also has no foreign transaction fees. As a Visa Signature card, cardholders also enjoy perks like travel and emergency assistance, lost Luggage reimbursement, baggage delay insurance, purchase protection and extended warranty protection.

Best for airline and hotel loyalists

Right now, there are also some impressive, elevated welcome bonuses being offered by the top airline and hotel credit cards. In fact, there are several co-branded credit cards currently offering welcome bonus offers of 100,000 points or more. If you favor a particular airline or hotel group, this might be a good option for you.

Air Canada fans

  • Aeroplan® Credit Card: Earn up to 100,000 Aeroplan points within the first 12 months from account opening: 60,000 Aeroplan points after spending $4,000 on purchases in the first three months and an additional 40,000 Aeroplan points after spending $20,000 in total purchases in the first 12 months of account opening.

Read more about Aeroplan's new welcome offer.

Delta fans

For consumers:

For business travelers:

Read more about these Delta welcome bonus offers.

Hilton fans

  • Hilton Honors American Express Surpass® Card: Earn 130,000 Hilton Honors Bonus Points and one Free Night Reward from Hilton Honors after you spend $2,000 in purchases on the Hilton Honors American Express Surpass® Card in your first 3 months of Card Membership.
  • Hilton Honors American Express Business Card: Limited Time Offer: Earn 150,000 Hilton Honors Bonus Points plus a Free Night Reward after you spend $4,000 in purchases on the Hilton Honors Business Card within the first three months of Card Membership. Offer ends 7/19/23.
  • Hilton Honors American Express Aspire Card: Earn 150,000 Hilton Honors Bonus Points after spending $4,000 in the first three months of card membership
  • Hilton Honors American Express Card: Earn 70,000 Hilton Honors Bonus Points and a Free Night Reward after you spend $1,000 in purchases on the Card in the first 3 months of Card Membership.

Read more about these Hilton welcome bonus offers.

IHG fans

Read more about this IHG welcome bonus offer.

Marriott fans

Read more about the best way to use Marriott Bonvoy rewards points.

Southwest fans

Read more about Southwest bonus offers.

United fans

  • United Club℠ Infinite Card: Earn 80,000 bonus miles after spending $5,000 in the first three months from account opening
  • United Quest℠ Card: Earn 60,000 bonus miles and 500 Premier qualifying points after spending $4,000 in the first three months from account opening

Read more about United bonus offers and the United Quest Card.

Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.

FAQs

What is a credit card sign-up bonus?

A credit card sign-up bonus is an incentive to entice consumers to open a new credit card and make purchases with the card. You typically need to meet spend a certain amount within a specified period of time in order to earn the bonus.

Are credit card sign-up bonus offers worth it?

Credit card sign-up bonuses can definitely be worth it as they can add hundreds of dollars (or sometimes even over a thousand dollars) back to your wallet and are generally non-taxable since you had to spend money to earn them. However, you should only pursue a welcome bonus if you can meet the spending requirement without overspending or stretching yourself too thin. You don't want to carry a balance just to earn a bonus since the interest charges could outweigh the value of any rewards you earn.

Bottom line

There is no shortage of great welcome bonuses out there. American Express, Bank of America, Capital One, Chase and Discover are all offering new cardholders competitive bonus offers that can provide you over $1,000 in value, depending on the card.

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Our methodology

To determine which cards offer the best value, CNBC Select analyzed over 100 of the most popular credit cards available in the U.S. that are open to anyone and offer welcome bonuses. We compared each card on a range of features, including cash-back rewards, annual fees, welcome bonuses, introductory and standard APR, balance transfer fees and foreign transaction fees, as well as factors such as required credit and customer reviews when available.

CNBC Select teamed up with location intelligence firm Esri. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here.

Esri's data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.

CNBC Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.

It's important to note the value of a point or mile varies from card to card and is based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming cash back for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.)

Our final picks are weighted heavily toward the highest five-year returns since it's generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses.

While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits.

Catch up on CNBC Select's in-depth coverage of credit cardsbanking and money, and follow us on TikTokFacebookInstagram and Twitter to stay up to date.

For rates and fees of The Platinum Card® from American Express, click here.

For rates and fees of the American Express® Gold Card, click here.

For rates and fees of Delta SkyMiles® Gold American Express Card, click here.

For rates and fees of the Delta SkyMiles® Platinum American Express Card, click here.

For rates and fees of the Delta SkyMiles® Reserve American Express Card, click here.

For rates and fees of the Delta SkyMiles® Gold Business American Express Card, click here.

For rates and fees of the Delta SkyMiles® Platinum Business American Express Card, click here.

For rates and fees of the Delta SkyMiles® Reserve Business American Express Card, click here.

For rates and fees of the Hilton Honors American Express Surpass® Card, click here.

For rates and fees of the Hilton Honors American Express Business Card, click here.

For rates and fees of the Hilton Honors American Express Aspire Card, click here.

For rates and fees of the Marriott Bonvoy Business® American Express® Card, click here.

For rates and fees of the Marriott Bonvoy Brilliant® American Express® Card, click here.

Information about Prime Visa Card has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication; if you purchase something through CNBC Select links, we may earn a commission.

*For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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