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10 Best NO ANNUAL FEE Rewards Credit Cards of April 2020

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With all the no-annual-fee rewards credit cards on the market, how do you decide which one is best for you? The obvious answer is to choose one that offers the most rewards.

We searched our list of rewards cards to find the very best credit cards in the top categories. While you might find credit cards with an annual fee can give you the best rewards, we’re sticking to no-fee cards, even if you don’t have excellent credit (good credit should be fine for most of these).

The first cards we list here offer unlimited double rewards on everything you purchase, while the remaining offer 3% or better rewards on spending in popular categories so you can mix and match to maximize your rewards, or they offer the chance for better earning if you use your rewards for travel.

1. Double Rewards on Everything, $0 ANNUAL FEE – Citi® Double Cash Card – 18 month BT offer

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
13.99% – 23.99% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Citi offers you rewards twice. First, you earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. All with a $0 annual fee and no spending cap. Read our review for more details on the Citi® Double Cash Card – 18 month BT offer.

If you want to maximize your earning potential, consider pairing the Citi® Double Cash Card – 18 month BT offer with a card that offers bonus rewards in specific spending categories. See which no-annual fee cards we recommend below.

2. Honorable Mention: Fidelity® Rewards Visa Signature® Card, $0 ANNUAL FEE

Fidelity® Rewards Visa Signature® Card

Fidelity® Rewards Visa Signature® Card

Regular Purchase APR
15.49% Variable
Annual fee
$0
Rewards Rate
Unlimited 2% cash back on everyday purchases.
The Fidelity® Rewards Visa Signature® Card provides a $0 annual fee and unlimited 2% cash back on everyday purchases. — but only if you deposit the cash you earn into a Fidelity account. However, you don’t need to have any stocks or investments to have an account. Fidelity has no-fee cash accounts where you can deposit your rewards, then withdrawal when you’re ready to spend. Be aware, though, this card is designed for people with excellent credit, while the Citi® Double Cash Card – 18 month BT offer might be easier to get.

Both cards offer you the flexibility to earn double rewards on anything you purchase; so either one of these is a nice addition to a rewards strategy. The advantage of the Fidelity® Rewards Visa Signature® Card over the Citi® Double Cash Card – 18 month BT offer is that its foreign transaction fees are just 1% versus 3% for the Citi® Double Cash Card – 18 month BT offer. But setting up the Fidelity® Rewards Visa Signature® Card and rewards is more cumbersome than the dead simple Citi® Double Cash Card – 18 month BT offer. Read our review of the Fidelity® Rewards Visa Signature® Card

If you want to earn more than 2% cash back, here’s a rundown of the best no-fee rewards credit cards that earn 3% or more in the most popular categories. You can click on each category for our take and details:

  • Rotating 5% categories: Chase Freedom®, Discover it® Cash Back, Visa® Platinum Rewards Credit Card from Nusenda Credit Union
  • Dining: Uber Visa Card – 3%
  • Travel spending: AAA Member Rewards Visa Signature® Card – 3%
  • Gas spending: Platinum Visa® from Abound Credit Union – 5%
  • Grocery shopping: Blue Cash Everyday® Card from American Express – 3% (up to $6,000 of spend annually, then 1%), Golden 1 Credit Union Platinum Rewards – 3%

And if you’re interested in traveling, here are the best no-annual-fee rewards credit card deals:

If you like to dig, we also have a complete (and long) list of cards that earn more than 3% on purchases in many more special categories, including cards with an annual fee.

3. Dining: Uber Visa Card – 3% Rewards, $0 ANNUAL FEE

Uber Visa Card

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The information related to Uber Visa Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Uber Visa Card

Regular Purchase APR
17.24% - 27.99% Variable
Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases

If you frequently dine out, the Uber Visa Card offers a great 5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases To learn more about the Uber Visa Card, check out our review.

4. Travel Spending: AAA Member Rewards Visa Signature® Card – 3% Rewards, $0 ANNUAL FEE

No need to be a AAA member to take advantage of this rewards card. You earn points when you shop at travel merchants including airlines, car rental agencies, hotels, cruise lines and travel agencies. You earn 3 points for eligible travel & AAA purchases, 2 points on gas, grocery store, wholesale club and drugstore purchases, and 1 point per $1 everywhere else. Learn about the AAA Member Rewards Visa Signature® Card here.

5. Gas Spending: Platinum Visa® from Abound Credit Union – 5% Rewards

Platinum Visa® from Abound Credit Union

Platinum Visa® from Abound Credit Union

Regular Purchase APR
10.75% - 18.00% Variable
Annual fee
$0
Rewards Rate
Unlimited 5% cash rewards for gas and 1% cash rewards for other eligible purchases.

Spend a lot of cash at the pump? The Platinum Visa® from Abound Credit Union lets you earn unlimited 5% cash rewards for gas and 1% cash rewards for other eligible purchases. Anyone can join the Fort Knox Credit Union by becoming a member of the American Consumer Council for $5.

6. Supermarket Shopping: Blue Cash Everyday® Card from American Express – 3% Rewards

Blue Cash Everyday® Card from American Express

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Blue Cash Everyday® Card from American Express

Intro Purchase APR
0% on purchases for 15 months
Intro BT APR
0% on balance transfers for 15 months
Regular Purchase APR
12.99%-23.99% Variable
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

The Blue Cash Everyday® Card from American Express offers 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. Read our review of the card for more detail.

7. Honorable Mention: Amazon Prime Rewards Visa® Signature Card – 5% at Whole Foods Market

Amazon Prime Rewards Visa® Signature Card

The information related to Amazon Prime Rewards Visa® Signature Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Prime Rewards Visa® Signature Card

Regular Purchase APR
15.74% to 23.74% Variable
Annual fee
$0
Rewards Rate
Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.

If you frequently buy groceries at Whole Foods Market, the Amazon Prime Rewards Visa® Signature Card earns a great rate on your purchases there. Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. This cash back program is very competitive and earns loyal Amazon and Whole Foods Market shoppers great rewards. Keep in mind that while there is a $0 annual fee, this card requires a Prime membership — annual plans cost $99 or $49 for students.

5% Cash Rewards in Rotating Categories: NO FEE

Cards with a rotating rewards program can give you 5% cash back rewards with no annual fee, but you’re limited to spending in special categories each quarter and there’s a cap on how much spending earns the 5% rate. You also have to opt into the 5% cash back category each quarter.

8. Chase Freedom® – 5% in rotating categories, $0 ANNUAL FEE

Chase Freedom®

The information related to Chase Freedom® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Freedom®

Regular Purchase APR
16.49% - 25.24% Variable
Annual fee
$0
Rewards Rate
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. Check out our review for more benefits of the Chase Freedom®.

9. Discover it® Cash Back – 5% in rotating categories

With the Discover it® Cash Back, Earn 5% cash back on everyday purchases at
different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. (The 5% is limited to $1500 spending per quarter, 1% after that. Activation is required). Earn 1% unlimited cash back automatically on all other purchases. You can redeem your cash back for any amount at any time. And your cash back never expires.
Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up, and no limit to how much is matched. Our review explains the other features of this card.

10. Visa® Platinum Rewards Credit Card from Nusenda Credit Union – 5% in rotating categories, NO FEE

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Regular Purchase APR
11.00% - 15.00% Variable
Annual fee
$0
Rewards Rate
Earn 3 bonus points, or 5% cash back, respectively, for every dollar they spend on purchases for movies, restaurants, and home improvements (up to $1,500 per quarter).
Earn 3 bonus points, or 5% cash back, respectively, for every dollar they spend on purchases for movies, restaurants, and home improvements (up to $1,500 per quarter). This quarter, cardholders will earn cash back on gas and education expenses. There’s a cash back cap of $1,500 per quarter. Anyone can join the Nusenda Credit Union by donating $10 to the New Mexico Wilderness Alliance; contact a customer representative for details. The advantage of this card is that its categories tend to be more broad, and not store-specific like those on the Chase Freedom® and Discover it® Cash Back, so it’s a great way to get you closer to 5% rewards on everything you spend.

If you’re going to go through the effort of enrolling in a rewards program, consider all three cards to see which categories will benefit you the most. But, if you’re looking for freedom to spend without restrictions, sticking with the Citi® Double Cash Card – 18 month BT offer may be your best bet.

Honorable mentions for travelers

No foreign transaction fees with plain cash back: Capital One® Quicksilver® Cash Rewards Credit Card – 1.5% Rewards

The Capital One® Quicksilver® Cash Rewards Credit Card gives you 1.5% Cash Back on every purchase, every day. And like all Capital One credit cards, there are no foreign transaction fees. Even though you earn less rewards than the Citi® Double Cash Card – 18 month BT offer or Fidelity American Express, this card is a better option for your international spending, since you avoid fees of 1 to 3%. To learn more, read our review.

Real airline miles: The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express is a $0 annual fee rewards credit card that earns Amex Membership Rewards® points. Those points can be transferred to 18 airline loyalty programs. Read our review for more information.

Beyond the rewards program, The Amex EveryDay® Credit Card from American Express has the longest intro period for purchases of any no-fee travel card on this list, at 0% for 15 Months (after, 12.99% - 23.99% variable APR). This gives you the opportunity to not only pay for new purchases over the course of many months without accruing interest but also earn rewards on those purchases that can be redeemed in a wide variety of ways, like the airline miles mentioned earlier.

Points for travel on any airline: Bank of America® Travel Rewards Credit Card

The Bank of America® Travel Rewards Credit Card allows you to Earn unlimited 1.5 points per $1 spent on all purchases, and you can use the points to erase travel purchases from your statement. Every 10,000 points is worth $100 when you use them for travel, so each point is worth one cent. Where the card gets interesting is if you’re a Bank of America customer with a checking, savings, or IRA account.  Even better, if you’re a Platinum level member of Bank of America® Preferred Rewards (which you get by keeping a lot of your money with them), you can earn up to 2.625x points per dollar, which is an incredible deal. There are also no foreign transaction fees to worry about.

How can you get the most value from a rewards credit card?

In order to best benefit from no annual fee rewards credit cards, follow these tips:

  • Narrow your focus: Before choosing a no-annual-fee rewards credit card (or cards), take a look at your budget and several months’ worth of bank statements. Then, pick cards that’ll offer you the most cash back for things you already buy. You shouldn’t change your spending habits to match a rewards program.
  • Give your rewards cards a job: Don’t spread out your spending onto too many cards without a purpose or you risk making less cash back overall. Choose a few cards and assign them a job so you know what purchases to make on each one to maximize your cash back.
  • Don’t get overzealous: Rewards shouldn’t justify overspending, especially if you’re struggling with debt. It’s a reward for making legitimate purchases. After all, you won’t make enough back to put a big dent in your monthly statement. For instance, $2,500 spent on the Fidelity American Express card equals a $50 deposit. It’s a great perk, but it shouldn’t be your sole reason for buying something.
  • Read the fine print: Understand the implications of each rewards program. For the rotating category cards, you get a huge amount of cash back, but you’ll have to strategize your spending each quarter to earn it. And you have to enroll into the program by the deadline to qualify. Set a reminder on your smartphone or calendar if necessary. You don’t want to miss out on a cash back category for an entire quarter.

The information related to AAA Member Rewards Visa Signature® Card, The Amex EveryDay® Credit Card from American Express and Bank of America® Travel Rewards Credit Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Credit Cards

Best Cashback Sign-Up Bonus Offers of April 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

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Searching for the best cashback sign-up bonus deals? Look no further. MagnifyMoney has compiled the best cashback card deals right here.

Take, for example, someone who spends approximately $1,800 per month during a two-year period. That person would earn on average nearly $750 in cashback rewards over the two years after taking into account any annual fees the cards assess.

After looking at the available cashback cards, we found five we felt offered the best sign-up bonuses. All five cards offer a cashback bonus without having to spend large amounts of money to get it. Plus, they all offer ongoing cashback options and benefits once the cashback intro bonus is gone — all with no annual fees.

Cards with the best sign-up bonuses

The sign-up bonus for the Capital One® Savor® Cash Rewards Credit Card lets you earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening. It has solid rewards, where cardmembers can earn 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.

The card comes with broad cash-back earning categories. Dining includes restaurants, cafes, bars, lounges, fast-food chains and bakeries. Entertainment covers tickets for movies, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls and bowling alleys. It also covers purchases at record and video rental stores. However, the entertainment category does not include digital streaming and subscription services. Cash back won’t expire as long as the card is active and there are no limits on how much cash back you can earn.

Additional card benefits include travel assistance services, a concierge, extended warranty and price protection. As for foreign transaction fees? There are none.

This card is best for those who want to earn more cash back on dining and groceries. Outside of that, there are other cashback cards that offer better rewards in top spending categories. Just know, there is an annual fee after the first year — $0 intro for first year; $95 after that.

The Capital One® Quicksilver® Cash Rewards Credit Card starts with a one-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. Once you spend $500 in three months to get the cashback bonus, it’s applied to your rewards balance within two billing cycles. Cardmembers get a flat rate of 1.5% cash back on every purchase, every day, and you don’t have to register every quarter to get it. You’re also not limited to select categories to get the cash back. And foreign transaction fees? There are none. Let’s say you spend $2,000 a month on the card. At unlimited 1.5% cash back, you’ll get $360 at the end of the year. Your rewards don’t expire during the life of the account, and you can redeem cash back for any amount.

The benefits with the Capital One® Quicksilver® Cash Rewards Credit Card are pretty good considering it’s a no-fee credit card. There are the usual benefits that come with Visa Signature®, including access to once-in-a-lifetime experiences and food events, free 24-hour concierge service and special offers from retailers. There are also popular benefits like purchase security, roadside dispatch, travel and emergency assistance, auto rental collision damage waiver, lost luggage reimbursement and travel accident insurance.

Other cards may offer more bonus points or miles — for a higher spend — than the Capital One® Quicksilver® Cash Rewards Credit Card. They may also offer more in cashback rewards, especially in targeted categories like travel and dining, than what’s offered with this card.

Uber Visa Card

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The information related to Uber Visa Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Uber Visa Card

Regular Purchase APR
17.24% - 27.99% Variable
Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases
New Uber Visa Card members can earn $100 in uber cash after spending $500 on purchases in the first 90 days. The cashback bonus is applied to your card as soon as you make the required purchases within the first 90 days after you open your account. As for foreign transaction fees? There are none for this card.If you spend around $800 a month on dining, you’ll earn $384 a year in cash back. The cash back in the travel category includes airfare, hotels and home share services like Airbnb. Spend $1,500 a month with the Uber Visa Card on these categories and get $540 back after a year.

Additionally, music lovers who spend at least $5,000 a year on it can get up to a $50 credit for online digital subscription services. Plus, you get up to $600 for mobile phone damage or theft when you pay your mobile phone bill with your card. The card also gives you access to invitations to exclusive events and offers in select U.S. cities.

You can redeem your Uber Visa Card points for Uber credits, gift cards or cash back, all via the Uber app. As long as the account is active and in good standing, your points never expire. Redemptions for Uber Cash start at 500 points for $5. All other redemptions start at 2,500 points for $25.

There are other cards that offer higher cash back for popular categories like airfares, hotels and dining. Your cash back redemption is capped at $500 a day. And the card doesn’t have an intro balance transfer rate.

TruWest Visa® Signature Card

Regular Purchase APR
8.40%-9.40% Variable
Annual fee
$0
With the TruWest Visa® Signature Card, you earn $100 when you spend $100 in the first 90 days after being approved. It’s not the most lucrative bonus out there, but we like it for a different reason: This is by far the lowest spend requirement among the three cards in this review. The best feature of the TruWest Visa® Signature Card is that it starts with a generous 0% introductory APR for 18 months on all purchases and balance transfers. After 18 months, there’s a very reasonable 8.40%-9.40% Variable APR.

Earn up to 1.5% cash back with the TruRewards program, plus get up to 1 point for every $1 spent.

The fine print: You must be a member of TruWest Credit Union, with a minimum deposit of $5 to qualify, before you can apply for the TruWest Visa® Signature Card. To become a member, you must either: live, work or own a business in Maricopa, Pinal, Pima or Yavapai counties in Arizona, or Travis or Williamson counties in Texas; attend school in Travis or Williamson, Texas; or be related to a current member or be the surviving spouse of a deceased member.

How to use points

You can earn 5,000 bonus points when you add a cardholder to your account, which gives you more ways to boost your point totals. You also earn up to 10 extra points per $1 spent when you use them to make qualifying purchases on the TruRewards website.

You can use your points and cash back in the Get Extra Points program, where you can apply your cash back to your credit card account, buy gift cards from TruWest or retailers, book a flight, hotel or cruise, buy more than 300 different items ranging from electronics to jewelry and donate points to your favorite charities. You can choose the split-pay option, where you can redeem points and pay for items using your TruWest Visa® Signature Card. Points that aren’t used within 48 months of the date they were issued will expire annually on Dec. 31.

Like the Capital One® Quicksilver® Cash Rewards Credit Card, the TruWest Visa® Signature Card gives you access to many of the benefits of the Visa Signature program.

Bank of America® Cash Rewards Credit Card

The Bank of America® Cash Rewards Credit Card gives new cardmembers a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening, one of the highest in this category. Once you meet the spending requirement, the bonus will be applied to your rewards balance after eight to 10 weeks. This card offers 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases. The choice category is automatically set to gas; however, you can select a new category one tie each calendar month in the Bank of America mobile banking app or via online banking. Also, you aren’t required to select a new category each month – the current category will remain in effect until you decide to update it.
While the ability to choose which categories you earn bonus rewards in is ideal, keep in mind that the 3% and 2% bonuses can only be earned on combined spending of $2,500 per quarter. After that, the rewards drop to 1% cash back per dollar spent. That said, there are competing cards that offer more rewards per dollar spent in popular categories.

Chase Freedom Unlimited®

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The information related to Chase Freedom Unlimited® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Freedom Unlimited®

Regular Purchase APR
16.49% - 25.24% Variable
Intro Purchase APR
0% Intro APR for 15 months
Intro BT APR
0% Intro APR for 15 months
Annual fee
$0
Rewards Rate
1.5% cash back offer.
Balance Transfer Fee
3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5, then either $5 or 5% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

$150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases. For cardholders who want simplicity, the Chase Freedom Unlimited® is a great option, since you won’t have the hassle of opting into bonus categories that rotate each quarter. Plus, if you transfer your Chase Freedom Unlimited® rewards to a Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can get even more value from your card. After transferring your rewards to either card, you’ll get  25% or 50% more value on those rewards (depending on which card you use) when you redeem them for travel through Chase Ultimate Rewards®.
If you use this card outside of the country, be prepared to pay a foreign transaction fee of 3% of each transaction in U.S. dollars. Also, despite the convenience that the Chase Freedom Unlimited® offers, there are cards that offer higher rewards rates in popular categories, such as travel or dining. The only benefits that come with the Chase Freedom Unlimited® are purchase protection, zero liability protection, fraud protection and extended warranty.

Alternatives to these cards

If these cashback bonus offers aren’t quite showing you the money, you may want to consider no annual fee cards that offer double cashback benefits as an alternative.

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
13.99% – 23.99% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Credit required
good-credit
Excellent/Good

The Citi® Double Cash Card – 18 month BT offer allows you to earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. There are no caps on the total amount of cash back you can earn. So if you charge $1,000 a month on the card, you’ll earn $120 cash back in a year. However, once you factor in the additional 1% cash back you earn when you pay your bill, that amount doubles to $240.

Once your cash rewards balance hits $25 or more, you can redeem your cash rewards for a check, a statement credit to your account or a credit to a linked Citi savings or checking account or to a checking account where you have paid a Citi credit card bill at least twice.

If your account is closed, you won’t be able to earn or redeem your cash rewards, and you forfeit any accumulated cash rewards. Your cash rewards balance will expire if you have not earned any cash back from purchases or payments for 12 months. Also, if you use this card when traveling outside of the U.S., you’ll be charged a 3% foreign transaction fee.

The great thing with the Discover it® Cash Back is that it matches all the cash back new card members earn at the end of their first year. So if you earned $1,200 in cash back in your first year, Discover will match that for a total of $2,400 after your first 12 consecutive billing periods. The cash back is then applied to your account in the following one or two billing periods.

You can earn 5% cash back on categories that rotate quarterly on up to $1,500 in purchases. You must activate the bonus categories each quarter to earn the cashback reward. All other purchases earn 1% cash back. Although you can only earn the 5% rate on the first $1,500 in purchases each quarter in the bonus categories, there is no limit on the overall amount of cash back you can earn.

The Discover it® Cash Back gives you free access to your FICO® Score on monthly statements, online and on the mobile app, and allows you to use the Freeze it® on/off switch feature that stops purchases, cash advances and balance transfers if you misplace your card.

After the first year, the Discover it® Cash Back’s cashback match rewards goes away. It also does not offer the more robust travel and purchase benefits of some other cards.

The bottom line

The introductory cashback bonuses for these credit cards can seem appealing when you first sign up. But you need to ask which benefits remain once you spend that initial bonus. And you need to balance whether the card is just as appealing once the more attractive intro purchase and balance transfer rates expire.

Since you don’t have to worry about annual fees, focus on a card with benefits that go beyond the initial intro cashback bonus. You want to get unlimited rewards with at least 1% cash back at a bare minimum.

It’s even better if you get a card that goes above the usual 1% on items in selected categories. And you want a card that offers secondary benefits like travel discounts, purchase and travel insurance and car rental collision coverage.

Keep your balances low and pay your card on time because you may end up paying your credit card company for the privilege of getting cashback rewards.

The information related to Bank of America® Cash Rewards Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Credit Cards

Best Credit Card Sign-Up Bonus For April 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

Lured into applying for a new rewards credit card with a generous sign-up bonus? Make sure you’re making the right choice.

Typical sign-up bonuses require you to spend a given amount (usually ranging from $500 – $5,000) within the first few months of account opening (on average the first three months) before you can reap your reward. The type of bonus you earn can differ by credit card and may come in the form of points, miles or cash back.

In this post, we list the best sign-up bonuses you can earn, organized by credit cards for personal or business use and by category (travel, airline, cash back and more).

Personal

Best travel rewards sign-up bonus: Chase Sapphire Preferred® Card

 Chase Sapphire Preferred® Card

The information related to Chase Sapphire Preferred® Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Sapphire Preferred® Card

Regular Purchase APR
15.99% - 22.99% Variable
Annual fee
$95
Rewards Rate
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide

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

What the points are really worth: 1 point is worth 1 cent, and when you redeem for travel via Chase Ultimate Rewards, 1 point is worth 1.25 cents.

Other reasons to like this card:

  • 25% more in redemption value: When you redeem points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®, your points get 25% more value. For example, 60,000 points are typically worth $600. However, when redeemed through Chase Ultimate Rewards, those same points are worth $750 toward travel.
  • 1:1 point transfer: Points can be transferred at a 1:1 rate to participating frequent travel programs currently including: Aer Lingus AerClub, British Airways Executive Club, Flying Blue Air France KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.

Bottom Line: The Chase Sapphire Preferred® Card is a good fit for people who frequently travel and would like a 25% boost when they redeem their points for travel through Chase Ultimate Rewards.

Best airline credit card sign-up bonus: Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Regular Purchase APR
17.74% - 25.74%* (Variable)
Annual fee
$99, waived for first 12 months*
Rewards Rate
Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases*

The bonus offer: Earn 50,000 American Airlines AAdvantage® bonus miles after making $2,500 in purchases within the first 3 months of account opening*

What the points are really worth: The value of AAdvantage® miles varies by redemption method, and there is no set monetary value.

Other reasons to like this card:

  • Preferred boarding: You can board the plane faster when flying with American Airlines*.
  • First checked bag free: On domestic American Airlines flights, your first checked bag is free for you and up to four companions.
  • 25% inflight savings: Receive 25% in savings on eligible inflight food and beverage purchases when you use your card on American Airlines flights*.

Bottom Line: The Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® is a great choice for American Airlines flyers who want to enjoy extra benefits on their flights such as preferred boarding and inflight savings.

Best cash back sign-up bonus: Capital One® Savor® Cash Rewards Credit Card

The sign-up bonus: Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.

Other reasons to like this card:

  • Good rewards: 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • Broad category definitions. Dining includes restaurants, cafes, bars, lounges, fast-food chains and bakeries. Entertainment covers tickets for movies, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls and bowling alleys. It also covers purchases at record and video rental stores.
  • No rotating cashback bonuses: No quarterly sign-ups are required to earn cash rewards. Cash back won’t expire as long as the card remains active and there are no limits on how much cash back you can earn.
  • Fair benefits. The card comes with travel assistance services, a concierge, extended warranty, and price protection. As for foreign transaction fees — there are none.

Bottom Line: This card is best for those who want to earn more cash back on dining, groceries and entertainment purchases. Plus, you won’t be responsible for paying an annual fee the first year (the annual fee is $0 intro for first year; $95 after that). Just keep in mind that the entertainment category does not include digital streaming or membership services.

Outside of that, there are other cashback cards that offer better rewards in top spending categories, such as gas, home improvement stores and travel.

Best luxury card sign-up bonus: Chase Sapphire Reserve®

Chase Sapphire Reserve®

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The information related to Chase Sapphire Reserve® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Sapphire Reserve®

Regular Purchase APR
16.99%-23.99% Variable
Annual fee
$550
Rewards Rate
3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.

The bonus offer: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

What the points are really worth: 1 point is worth 1 cent, and when you redeem for travel via Chase Ultimate Rewards, 1 point is worth 1.5 cents.

Other reasons to like this card:

  • 50% more in redemption: Points redeemed for travel through Chase Ultimate Rewards earn 50% more in redemption value. For example, 50,000 points are typically worth $500. However, when redeemed for travel through Chase Ultimate Rewards, they are worth $750.
  • $300 annual travel credit: Automatically receive up to $300 in statement credits as reimbursement for travel purchases charged to your card each anniversary year.
  • 1:1 point transfer: Easily transfer points at a 1:1 rate to participating frequent travel programs currently including: Aer Lingus AerClub, British Airways Executive Club, Emirates Skywards, Flying Blue Air France KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.
  • Global Entry or TSA PreCheck credit: Receive a statement credit of up to $100 for your Global Entry or TSA PreCheck application every four years.
  • Airport lounge access: You can access over 1,000 airport lounges worldwide with a complimentary, one-time enrollment in Priority Pass™ Select.

Bottom Line: The Chase Sapphire Reserve® offers a fantastic sign-up bonus that can benefit from 50% more value in rewards value when redeemed for travel through Chase Ultimate Rewards.

Business

Best cash back sign-up bonus for businesses: Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card

The information related to Ink Business Cash℠ Credit Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Cash℠ Credit Card

Regular Purchase APR
14.74% - 20.74% Variable
Annual fee
$0
Rewards Rate
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

The bonus offer: Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.

Other reasons to like this card:

  • 0% Intro period: This card offers an introductory rate of 0% for 12 Months on purchases allowing your business time to pay off any large purchases made during this period. After the intro period ends, a 14.74% - 20.74% Variable APR applies.
  • Higher rewards rate for select business purchases: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
  • Free employee cards: You can add employee credit cards at no additional charge.

Bottom Line: The Ink Business Cash℠ Credit Card is great for business owners who want to earn a generous rewards rate in the spending categories of their choosing.

Best travel points sign-up bonus for businesses: Ink Business Preferred℠ Credit Card

Ink Business PreferredSM Credit Card

The information related to Ink Business PreferredSM Credit Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business PreferredSM Credit Card

Regular Purchase APR
17.49% - 22.49% Variable
Annual fee
$95
Rewards Rate
Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

The bonus offer: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening

What the points are really worth: 1 point is worth 1 cent, and when you redeem for travel via Chase Ultimate Rewards, 1 point is worth 1.25 cents.

Other reasons to like this card:

  • 25% more in redemption: When you redeem points for travel through Chase Ultimate Rewards, they are worth 25% more. For example, 80,000 points are normally worth $800. However, when redeemed through Chase Ultimate Rewards for travel, they are worth $1,000.
  • 1:1 point transfer: If you’re a part of participating frequent travel programs, you can transfer points at a 1:1 rate. Partners currently include: Aer Lingus AerClub, British Airways Executive Club, Emirates Skywards, Flying Blue Air France KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.
  • Higher rewards rate for select business purchases: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. This is a great way for you to earn bonus points on purchases your business makes the most.
  • Free employee cards: You can add employee credit cards at no additional charge.

Bottom Line: The Ink Business Preferred℠ Credit Card is a great option for business owners who travel frequently and who want to maximize their rewards earning potential. Along with receiving 25% more value when you redeem points for travel through Chase Ultimate Rewards, you can also choose which categories you want to earn bonus points in.

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How to maximize your sign-up bonus

Below we list some tips to help you choose the best sign-up bonus for you, including how to make sure you actually earn the bonus. Here’s what you need to know:

  • Understand how the minimum spend requirement and time period works. Nearly all sign-up bonuses require a minimum spend for you to earn the bonus. Take, for example, a card may require you to spend $1,000 on purchases in the first three months of account opening to earn 5,000 bonus points. If you open your account on January 1, you’ll have until March 30 to spend $1,000. Each sign-up bonus differs, so make sure to check the terms and conditions.
  • What qualifies as spending on purchases? Sign-up bonuses have clear terms that require you to spend a specific amount on certain purchases in order to receive the bonus. That means that certain transactions don’t count toward the spending requirement. Transactions that aren’t eligible often include: balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers, interest and fees of any kind.
  • Make a large purchase upfront to secure the bonus. If you plan on making a large purchase, such as a laptop or television, try to make it as early as possible in order to meet the required spend threshold for the bonus. But only do this if it’s feasible to pay it off soon after. If you make a large purchase upfront and are unable to pay it off before your statement is due, you will be stuck paying interest — unless your card has a 0% intro APR period. Still, you don’t want to fall into debt just to get the sign-up bonus.
  • Check other terms and conditions. A good rule of thumb is to look at the terms and conditions before you apply for any card. This allows you to see if and when the points, miles or cash back expire, as well as how they can be redeemed. You can also find out which purchases qualify towards earning the bonus.
  • Don’t be too greedy. To thwart people from nabbing sign-up bonuses and closing cards repeatedly, issuers may have rules that prevent customers from signing up for several cards from the same issuer over the course of a specific time period.
  • Take note: offers are time sensitive. Sign-up bonuses can change at any time, meaning an offer you click on may not be there later if you refresh or close the window.

How we picked the best sign-up bonus offers

We formulated this list by looking at cards from all major issuers as well as some credit unions. From there, we divided cards into two categories — travel rewards and cash back rewards. When comparing cards in the travel category, we considered the rewards value, spending requirements and rewards bonuses. For cash back cards, we simply looked at the amount of the bonus and spending requirements. If there were cards with similar sign-up bonuses, we considered other features, such as introductory APR periods, APRs and annual fees.

Let’s take, for example, where two rewards cards that require you to spend $3,000 in the first three months of card membership to earn the bonus:

  • Card A offers 50,000 bonus points
  • Card B offers 60,000 bonus points

Now, someone may only look at the sign-up bonus for Card B and think, “Wow, I can earn 10,000 more points compared to Card A. I want Card B.”

But a closer look at the terms and conditions reveal that the point values differ for each card:

  • Card A’s points are worth 1.25 cents each when redeemed through the issuer’s portal
  • Card B’s points are worth 1 cent each

Here’s the monetary value of the sign-up bonus for each card:

  • Card A: $625
  • Card B: $600

So the sign-up bonus for Card A is better when considering rewards value and redemption methods. Therefore, it’s always important to look at various aspects of a card, and not solely the sign-up bonus.

Now let’s look at a cash back example:

  • Card A requires you to spend $1,000 in the first three months of card opening to earn $150 cash back
  • Card B requires you to spend $500 in the first three months of card opening to earn $150 cash back
  • Card C matches your cash back at the end of 12 months, and doesn’t require a minimum spending amount

It’s pretty clear that Card A is the worst value. Card B is better since you have to spend half the amount to earn the same sign-up bonus as Card A. However, if you spend over $15,000 in the first 12 months of card opening, Card C is the best option with unlimited cash back matching and no required spend.

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