Advertiser Disclosure Editorial Disclosure

The Best Credit Card Signup Bonus for 2020

Examining the best credit card signup bonus for 2020 if you’re in the market for rewards cards can ensure that you pick the most rewarding card. Many rewards cards will entice you with huge points bonuses on top of introductory 0% APRs, waived fees, and glamorous perks. However, it can sometimes be difficult to see what the real value of these bonuses are. And some credit cards can offer such a large package of deals with so many terms and conditions, that you may end up signing up for something you don’t really want.

At first glance, for instance, you might think that a credit card that offers $700 worth of bonus rewards and a low annual fee is a better bargain that another card that offers the same bonus but with a much larger fee. If you factor in all the additional perks, however, you may see that the card with the higher fee actually provides much more value.

Let BestCards.com break it down for you, so you’ll know exactly what’s in store when you sign up for a big-bonus card. Below is our curated list of the top five signup bonuses for 2020.

Chase Sapphire Preferred®

Earn 60,000 Bonus Points ($750 Value)

Chase Sapphire Preferred®
  • Regular Purchase APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 24.99% variable based on Prime Rate
  • Annual Fee $95
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from opening
  • Earn 2X points on travel and dining, including airfare, hotels, cafés, and more
  • Earn 1 point per dollar spent on every other purchase
  • Get 25% more in travel redemption when you redeem through Chase Ultimate Rewards
  • 1:1 point transfer to various airline and hotel travel partners
  • No foreign transaction fees
Rates & Fees
  • Regular Purchase APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 5% of each transfer amount, whichever is greater
  • Cash Advance APR: 24.99% variable based on Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of each transaction amount, whichever is greater
  • Annual Fee: $95
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
Credit Card Deals
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The London Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Barcelona Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Bangkok Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

Starting this list of the best credit card signup bonus for 2020 is the Chase Sapphire Preferred® credit card. It offers you 60,000 bonus points when you apply and spend $4,000 in the first three months. This spending requirement is very accessible for the majority of consumers. You only need to spend about $1,300 per month to rake in those bonus points.

Points are normally valued at $0.01 (one cent) per point. However, Chase gives more value to your points when you redeem them through the Chase Ultimate Rewards® program for airfare or hotels. In fact, your points are worth 25% more through Ultimate Rewards® than if you were to redeem them for cash back.

Those 60,000 bonus points you earn convert to a $750 credit if you go this route. And this is on top of earning 2X points on dining, airfare, and hotels. If you’re a frequent traveler, you can cover the spending requirement in two trips, especially if you’re taking long-haul flights. You’ll also be earning 8,000 additional points, which comes out to $100 in Ultimate Rewards credits.

For a limited time, cardholders also earn 5X points on Lyft rides. This can really help you rack up points if you don’t own a car and use this ride sharing service to commute to, and from, work. If your average fare comes out to $20 each way, you’ll end up spending around $1,200 a month. You can get closer to meeting the bonus spending requirement and earn 18,000 points along the way.

One of the Chase Sapphire Preferred’s benefits is its comparatively low annual fee of $95. Many rewards cards that offer huge signup bonuses can charge several times this amount (including some of the cards on this list). If you factor in the annual fee, the Sapphire Preferred card still gives you one of the biggest bonuses around.

Capital One® Venture® Rewards Credit Card

Earn 50,000 Bonus Miles

Capital One® Venture® Rewards Credit Card
  • Regular Purchase APR 17.24%, 21.99% or 24.49% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 17.24%, 21.99% or 24.49% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 24.49% variable based on the Prime Rate
  • Annual Fee $0 for the first year, $95 after that
  • Credit Needed Excellent
  • Processing Network Visa
Best Benefits
  • 5X miles per dollar spent on hotels and car rentals through Capital One Travel portal
  • 2X miles per dollar spent on all other purchases
  • Receive up to a $100 credit for TSA Pre-check or Global Entry
  • Transfer miles to 15 available travel partners
  • No foreign transaction fees
Rates & Fees
  • Regular Purchase APR: 17.24%, 21.99% or 24.49% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR: 17.24%, 21.99% or 24.49% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount of each transfer at promotional APRs. None for balances transferred at the Transfer APR
  • Cash Advance APR: 24.49% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
  • Annual Fee: $0 for the first year, $95 after that
  • Late Payment Penalty Fee: Up to $39
Credit Card Deals
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The London Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Barcelona Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Bangkok Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

The Capital One® Venture® Rewards Credit Card is another darling among credit card aficionados. This travel rewards card gives new cardholders 50,000 bonus miles in their first 90 days.

This is lower than what the Chase Sapphire Preferred card offers, but the spending requirement is not as high. You only have to spend $3,000 in your first three months to qualify for these miles. Each mile has a value of just over $0.01 (one cent), which is about the same as the Sapphire Preferred Card.

However, given the lower spending requirement, you’re earning one extra point per dollar spent with this card over the Chase card. Additionally, you can earn five miles for every dollar spent through the Capital One Travel Portal.

In total, you could be earning 65,000 miles in your first three months of owning this credit card. Furthermore, this Capital One card covers the fee for Global Entry or TSA PreCheck, valued at a maximum of $100. This brings the total potential rewards value up to $750.

This credit card normally features a $95 annual fee, but new cardholders don’t need to pay it their first year. As such, you don’t need to worry about your rewards offsetting the cost of the annual fee. That’s up to $750 in your pocket.

The Platinum Card® from American Express

Earn Up To 60,000 Bonus Membership Rewards® Points

The Platinum Card® from American Express
  • Regular Purchase APR See Pay Over Time APR
  • Cash Advance APR 25.24% variable based on the Prime Rate
  • Annual Fee $550
  • Credit Needed Excellent
  • Processing Network American Express
Best Benefits
  • 5X Membership Rewards® Points on flights booked directly with airlines or with American Express Travel
  • 5X Membership Rewards® Points on prepaid hotels through American Express Travel
  • Annual $200 statement credit on airline incidentals
  • Statement credit for Global Entry or TSA Precheck
  • Access to the American Express Global Lounge Collection
  • VIP status and $200 Uber savings on rides or eats orders in the US annually
  • Complimentary Gold status in Marriott Bonvoy and Hilton Honors programs
  • Complimentary membership in premium car rental programs
Rates & Fees
  • Regular Purchase APR: See Pay Over Time APR
  • Cash Advance APR: 25.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: See Rates & Fees
  • Annual Fee: $550
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40

Right now, the Platinum Card® from American Express offers new cardholders 75,000 bonus points when they sign up. This is 15,000 points more than what the Amex Platinum Card usually awards new cardholders. However, you do have to spend $5,000 in your first three months to earn this bonus, which comes out to around $1,666 per month.

What’s more, if you book airfare or hotel stays through American Express Travel, you’ll be earning 5 points for every dollar you spend. You can meet your bonus points spending requirement this way and earn 25,000 additional points. In total, new cardholders can earn up to 100,000 points in their first three months.

American Express places different values on points depending on how you redeem them. Cardholders get the most value for their points when they redeem them for one of the following:

With the above redemption options, points are worth around $0.01 (one cent) each. That means that you have the potential to earn up to $1,000 in rewards.

Now, the Platinum Card from American Express does feature one of the highest annual fees on this list at $550. Superficially, this fee might appear to eat away at over half of the rewards you earn in your first year. However, you also need to factor in the value of all the other perks you get with this card.

American Express Platinum benefits include:

  • $200 yearly Uber credit
  • $200 yearly airline fee credit
  • $100 credit for Global Entry application
  • $100 hotel credit per two-night stay at an American Express Hotel Collection property
  • $550 per year in complimentary hotel amenities
  • $100 yearly credit at Saks Fifth Avenue

The above perks have a combined value of $1,250, and there are still many other valuable perks included in this card. Combine the value of these perks with the value of the points you earn in your first 90 days, and you’re looking at $2,250 worth of benefits. When you take this into consideration, the $550 annual fee is a drop in the bucket.

Even still, the Platinum Card is a jet setter’s credit card. In order to get the most value from this card, you will need to do a lot of higher-end traveling. In fact, many of the rewards you’ll earn on this card apply to luxury retail and five-star accommodations. If you don’t normally travel in this style, the American Express Platinum may have you spending beyond your means.

Bank of America® Premium Rewards® Credit Card

50,000 Bonus Points ($500 Value) + Unlimited Rewards Earning

Bank of America® Premium Rewards® Credit Card
  • Regular Purchase APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 18.99% to 25.99% variable based on creditworthiness and Prime Rate
  • Annual Fee $95
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening
  • 2X points per dollar spent on travel and dining purchases
  • 1.5X points per dollar spent on all other purchases
  • $100 Airport Security Statement Credit towards TSA Pre? ® or Global Entry Application fee, every four years
  • Annual $100 statement credit for airline incidentals
  • No blackout dates
  • No foreign transaction fee
Rates & Fees
  • Regular Purchase APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR: 15.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 18.99% to 25.99% variable based on creditworthiness and Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Penalty APR: Up to 29.99% variable based on creditworthiness the Prime Rate
  • Annual Fee: $95
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $29
Credit Card Deals
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The London Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Barcelona Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Bangkok Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

Bringing the list of best credit card signup bonus for 2020 back down to a more widely accessible level is the Bank of America® Premium Rewards® card. This credit card awards new cardholders 50,000 bonus points when they spend $3,000 in the first 90 days. This bonus is on par with that of the Capital One Venture Rewards Card, and points have the same value on this card (about $0.01 per point).

However, you only earn a maximum of two points for every dollar you spend. Additionally, you receive 2X points on only travel and dining purchases. As such, you earn 56,000 points in your first three months versus 65,000 points with the Venture Card.

However, your earning rate increases if you have a certain balance in a Bank of America checking or savings account over three months. This is part of BOA’s Preferred Rewards Program that consists of three tiers:

  • Gold Status
    • $20,000 – $50,000 balance
    • 25% rewards bonus
  • Platinum Status
    • $50,000 – $100,000 balance
    • 50% rewards bonus
  • Platinum Honors Status
    • $100,000+ balance
    • 75% rewards bonus

If you qualify for Platinum Honors status, you’ll essentially earn 3.5 points for every dollar you spend on dining and travel. That will potentially bring your total points up to 60,500, which has a cash value of $605.

Just like the Venture card, the BoA Premium Rewards Visa features a $95 annual fee. However, there is no fee waiver for your first year. This slightly lessens the value of your bonus, but there are some additional perks that make up for this.

Cardholders receive up to $100 in credits to cover TSA PreCheck or Global Entry application fees. Additionally, this BoA Visa issues cardholders up to $100 in credits to cover any airline incidentals. These include baggage fees and seat upgrades. In total, new cardholders can receive up to $805 in rewards with this card.

Hilton Honors American Express Surpass® Card

150,000 Hilton Honors Bonus Points for Redemption

Hilton Honors American Express Surpass® Card
  • Regular Purchase APR 15.74% to 24.74% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 25.24% variable based on the Prime Rate
  • Annual Fee $95
  • Credit Needed Excellent , Good
  • Processing Network American Express
Best Benefits
  • 12X Hilton Honors points per $1 spent on purchases at participating Hilton properties
  • 6X Hilton Honors points per $1 spent on purchases at U.S. restaurants, U.S. supermarkets, and U.S. gas stations
  • 3X Hilton Honors points on all eligible purchases
  • Complimentary Gold status with your card
  • Free Weekend Night Reward after spending $15,000 on your card in a calendar year
  • No foreign transaction fees
Rates & Fees
  • Regular Purchase APR: 15.74% to 24.74% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 29.24% variable based on the Prime Rate
  • Annual Fee: $95
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40

The Hilton Honors Surpass® card from American Express® rounds out our list of best credit card signup bonus of 2020. New cardholders can earn 150,000 bonus points when they spend $3,000 in their first three months.

Bonus points have a value of a little over $0.005 (half a cent) for every dollar you spend. However, cardholders earn 12X points on hotel reservations they make directly through Hilton’s portfolio of hotels and resorts. That means that you earn about six cents for every dollar you spend, which is significantly more than with other cards on this list.

That being said, those 150,000 bonus points have a cash value of about $750. If you use your card to buy groceries, gas, or pay for dining at restaurants, you’ll earn about three cents per dollar spent (or 6X points). You can potentially earn over $900 in rewards in your first three months when you sign up for this card.

Now, the Aspire® Card from Hilton offers the same signup, but the annual fee is several times higher at $450. Compare that to the Surpass® Card’s $95 annual fee. Additionally, you won’t earn extra points on everyday essentials like groceries and gas. The Aspire® Card’s highest earning tiers only reward you for Hilton hotel stays and travel purchases.

The Aspire® Card does offer cardholders a $250 Hilton Resort Statement credit and a free weekend night stay after each account anniversary. These perks can have an average value of about $500, which will cover the cost of the high annual fee with a little money to spare. But after that, the rewards you earn with the Aspire® Card versus the Surpass® card are practically the same.

In the end, you get more bang for your buck with a lower annual fee, 12X points, and 150,000 bonus points. Deducting the annual fee amount, you can come away with over $800 in rewards in your first three months.

About: Carlos
Carlos Carter

Carlos reviews credit cards and covers all sorts of credit card news for Best Cards. As a lifelong foodie, his focus is on the credit cards that offer the best benefits for those who live to eat and cook.