Cashback Cards that Offer Sign Up Bonuses
Earning cash back rewards on your credit card spending is a simple way to save money. Many popular cashback cards turbo-charge rewards by also offering generous signup bonuses to new cardholders.
In this guide, we’ll highlight cashback credit cards currently offering $100, $150, $200 or higher bonuses. We’ll look at bonus eligibility details, additional card rewards, and tips to qualify for offers. Read on to find the best signup bonus cashback card for your wallet.
How Credit Card Signup Bonuses Work
Signup bonuses provide incentive to open a new credit card by rewarding you with statement credits, points, or additional cashback after meeting initial spending requirements. Here is an overview of how they work:
- Issuers offer bonuses like “Earn $200 cashback after spending $500 in the first 3 months”.
- You must apply for the card and qualify for approval to be eligible. Good credit is often required.
- After getting approved, you work toward spending the minimum required amount within a defined timeframe.
- Once you reach the spending requirement, the bonus cashback is credited to your rewards balance.
- Most bonuses range from $100-$500 in value based on the card. Popular amounts are $150, $200 and $250.
- Bonuses help you maximize rewards in the first year. But the ongoing earning rates are important too.
Now let’s look at some of the best cashback cards offering lucrative signup bonuses in 2023.
Chase Freedom Unlimited – $200 Bonus
Earns 5% cashback on travel booked through Chase, 3% dining and drugstores, 1.5% on all other purchases
The Chase Freedom Unlimited is offering new cardholders $200 bonus cashback after spending just $500 on purchases within the first 3 months of account opening.
Beyond the bonus, you’ll earn:
- 5% cashback on travel booked through Chase
- 3% cashback on dining, drugstores, and gas stations
- 1.5% cashback on all other purchases
There is no annual fee for this card. The signup bonus coupled with solid ongoing earn rates on common purchases makes this a valuable cashback card.
Chase also makes it easy to redeem rewards into your bank account, as gift cards, and more.
Citi Custom Cash Card – $200 Bonus
Earns 5% cash back on top eligible spend category each billing cycle (up to $500 per month)
With the Citi Custom Cash Card, you can earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to $500 in purchases per month. All other purchases earn 1% back.
Currently, Citi is offering a $200 cashback bonus after spending $750 on purchases in the first 3 months of account opening.
Categories for the 5% cashback include gas stations, restaurants, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, live entertainment, and more.
There is no annual fee for this card. The flexible 5% category and solid signup bonus make this a strong choice.
Wells Fargo Active Cash Card – $200 Bonus
Unlimited 2% cash rewards on purchases
The Wells Fargo Active Cash Card offers new cardholders a $200 cash rewards bonus after spending $1,000 on purchases in the first 3 months.
On top of the bonus, you’ll earn an unlimited 2% cash rewards on all purchases with no category exclusions or earning caps. This straightforward earning makes it easy to know exactly what you’ll earn on every transaction.
There is a 0% intro APR for 15 months (16.99% – 26.99% variable APR after that). There are also valuable benefits like cell phone protection, travel accident insurance, and more.
With no annual fee, the $200 signup bonus makes this 2% back card even more rewarding for everyday spending.
Capital One SavorOne Cash Rewards- $200 Bonus
Earns 8% cashback on dining and entertainment, 3% at grocery stores, 1% on other purchases
The Capital One SavorOne Cash Rewards card offers a $200 cash bonus after you spend $500 on purchases within 3 months from account opening.
Beyond the bonus, you’ll earn:
- 8% cashback on dining and entertainment
- 3% cashback at grocery stores
- 1% cashback on all other purchases
There are no rotating categories or caps to track with this card. Entertainment includes eligible streaming services, movie theaters, sports events, and more.
The SavorOne card has no annual fee. With generous dining rewards and a solid $200 signup bonus, it’s a great option for cashback on daily spending.
Citi Double Cash – $200 Bonus
Earns 2% on all purchases (1% when you buy, 1% when you pay)
For a straightforward, flat-rate cashback card, the Citi Double Cash offers new applicants a $200 bonus after spending $1,500 on purchases within 6 months of account opening.
In addition to the bonus, the Double Cash earns an easy 2% cashback on all purchases with no category exclusions. You earn 1% when you purchase, and another 1% when you pay off the purchase.
With no earning caps and no annual fee, this is one of the best cards for accelerating your everyday cashback rewards from routine spending. It also pairs well with cards that offer bonus category rewards.
How to Qualify for the Best Cashback Bonuses
To qualify for a lucrative signup bonus, follow these tips when applying:
- Maintain a credit score over 670 so you meet approval requirements
- Reduce credit card balances below 30% of your total limits
- Avoid applying for too many new accounts close together
- Provide accurate information on the card application
- Consider banking with the card issuer already
- Meet any minimum income requirements (often around $15,000/year)
- Set up autopay or alerts to avoid missing minimum spend
- Use the card for purchases you already planned to make rather than overspending
The best signup bonuses accelerate your rewards in a card’s first year. But also consider ongoing earning rates to maximize long-term value too.
Maximizing Rewards with Cashback Cards
Once you’ve earned a lucrative signup bonus, you want to keep cashback rewards flowing with ongoing card use. Follow these tips:
- Use your cashback card for as many purchases as possible to let rewards add up quickly.
- Take advantage of rotating bonus categories and activate them each quarter. Mark your calendar with reminders if needed.
- Use mobile wallet payment apps like Apple Pay and Google Pay to make rewards earning more automatic.
- Pay your credit card bill on time and in full each month to avoid interest charges negating rewards earned.
- Stack rewards using online shopping portals and cashback sites like Rakuten. These bonus percentages add up.
- Refer friends and family to cards you use to earn additional referral cashback rewards.
- Redeem your cash rewards at least annually so they don’t sit in your account too long.
- Review rewards activity in your account frequently to identify new bonus opportunities.
Closing Thoughts on Cashback Credit Card Bonuses
The best signup bonus offers provide a rewarding incentive for taking on a new credit card, often adding $150-$500 in value during the first year. Just be sure to consider the ongoing rewards structure, fees, APRs and other card details before applying.
Aim for cashback cards that align bonus categories with your largest spending categories beyond just the signup incentive. This ensures you’ll continue earning robust rewards long-term with routine card use.
With the right strategy, signup bonuses combined with ongoing cashback can effectively put money back in your pocket on the things you buy every day. Enjoy the perks of maximizing your spending power with the right rewards credit card in your wallet.