A while ago, I did a post on the best airline card bonuses and the best hotel card bonuses. At the time, I meant to do one on cash-back cards but, well, life happens. Reminds me of an old saying, something about good intentions and paving a road. In any case, I have finally gotten around to it.
Here’s the rules: This post is based on who has the best cash offer for signing up for a card and completing the minimum spend requirement. First year annual fees are netted against the bonus, as are the opportunity costs of the minimum spend versus a 2% card (e.g., If a card requires $1,000 in spending in the first three months and gives 1% cash back on all purchases, you’ll lose a percent on that $1,000 in spend. Your opportunity cost is 1%*$1,000, or $10.). Although some cards earn you double or triple points in certain categories, for the sake of ease, I’ll assume that “opportunity cost” purchases are ordinary point earners.
Citibank Premier
Sign-up bonus: $470-$602.50
I’m a fan of the Premier’s older brother, the Citi Prestige card, but this card isn’t bad in its own right. The card comes with 50,000 bonus points, which are worth $500, or $625 if used for travel. Other goodies:
3X points on travel, 2X on restaurants and entertainment
- No foreign transaction fees
- 25% bonus on rewards when used for travel
This card is a good one for travel and worth holding onto, even with a $95 annual fee (waived the first year), if you have a lot of travel expenses. With triple points on travel, your return on the card can be as high as 3.75%. It can be found by clicking through the banner here.
Capital One Venture
Sign-up bonus: $400 on travel
This card is one of the better ones out there in credit card land. It pays a generous sign-up bonus, offers 2% back on travel purchases (and Capital One is very generous on what it will consider travel) and has a host of travel benefits, including no foreign transaction fees. The annual fee, which is waived the first year, is $59, so if the travel benefits are worth it to you, keep the card the second year. Otherwise, switch to a 2% card like the Citi Double Cash. You can get the Cap One card by clicking through the banner here.
Barclaycard Arrival Plus World Elite MasterCard
Sign-up bonus: $400 on travel
A couple of months ago, this card would have been ahead of the Capital One Venture card, with the same sign-up bonus, an $89 annual fee but 2.2% back when used for travel. But change has come, and that benefit will be sliding down to 2.1% for travel, half that for everything else. They’ve also raised the minimum number of points that you have to use at once and reduced the merchants that are considered travel. In and of itself, none of that is a big deal but, for the extra 0.1%, the added complication just isn’t worth it. On the other hand, $400 is $400. You can get the card at Barclay’s website here.
Chase Sapphire
Sign-up bonus: $360-460
I’ve never quite gotten the appeal of this one, outside of the sign-up bonus. Chase points are very useful, but only travel and dining are doubled, with everything else at a point per dollar. But this post is about sign-up bonuses, so take the free first year and then ditch the card before you hit the $95 annual fee. You can get it by clicking through the banner here.
And that’s all I’ve got in terms of the best cash back sign-up bonuses. Usual rules apply, I may be compensated if you apply through my links. Thanks!
Note: This post may contain credit card affiliate links. All credit card proceeds are donated to charity.
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