Which credit card offers the best sign-up bonus?

Even like many Americans cut back on discretionary spending, credit card companies have stumbled upon themselves to offer rewards recently, with welcome bonuses at record levels. If you are looking for a new card, now is a good time to get one.

Among the major credit cards, American Express and Chase have record offers for cash back bonuses or reward points. These enticements are limited-time offers that might disappear without notice (a recent Chase Sapphire welcome bonus of 80,000 points is no longer available, for example), so you may need to act quickly. Of course, it has to be said that if you’re already having trouble paying off your credit card balance, you shouldn’t be chasing rewards.

Here is a description of the offer, as well as the “value” of the different bonuses, according to The Points Guy:

American Express Gold Card

Amex offers a disc 60,000 points if you spend $ 4000 within six months, which is worth $ 1200 according to the Points Guy.

Annual fee of $ 250

American Express Platinum Card

Amex offers 75,000 points (valued at $ 1,500 according to Point Guy) if you spend $ 5,000 on purchases within 6 months of signing up for the card. This offer includes a very good 10x points on qualifying purchases.

ANNUAL FEE OF $ 550

Blue Cash American Express preferential card

You can win $ 300 cash back after spending $ 3,000 in your first 6 months and your annual fee is waived for the first year (after $ 95). Expires December 10.

ANNUAL FEE OF $ 0 FOR THE FIRST YEAR

Chase Freedom Flex

Win a $ 200 cash back bonus after spending $ 500 in the first 3 months, plus 5% cash back on grocery store purchases and 0% introductory APR for the first 15 months

NO ANNUAL FEES

Chase Sapphire Favorite Card

To win 60,000 bonus points (which is worth $ 1,200 according to Point Guy) when you spend $ 4,000 on purchases within the first 3 months of opening the account.

Annual fee of $ 95