Why Banks Offer Huge Credit Card Bonuses, And How You Can Be The Customer Who Comes Out Ahead

The highest and best returns you can get for your spending are earning initial bonuses from a credit card, followed by earning the most points in accelerator categories (like 5x airfare, 4x dining and grocery) followed by earning 2 or 3 points per dollar for your everyday spend.

That’s why you want to prioritize your spending. Back when I first started in miles and points, new card acquisition bonuses didn’t require any spending. You earned the bonus by being approved for a card and making a purchase. That changed twenty years ago, generally, to $250 spend requirements (Chase) and $750 spend requirements (Citibank).

Now banks try to get you to spend a certain minimum amount – to target the offers to customers who do spend enough on cards to be potentially valuable enough customers to warrant investing in acquiring them as cardmembers, and to get the customer used to pulling out the card and using it, and putting it top of wallet.

Always remember, though, that a card that’s worth getting and earning a bonus for may not be the card that’s worth keeping, or continuing to spend on. But a good bonus is a reason to consider the card, to apply, to try it out and see how it fits.

And these bonuses can be enough for to cover a trip on their own! Especially if you and your partner get a card – or two – each. And that’s by design.

• The bonus needs to be big enough that it’s focal, it gets you to stop and pay attention. Even if a card is the best choice for you, the issuer needs to make it important and valuable enough to get you to prioritize applying over all the other myriad things on your list.

• And a limited-time offer taps into a fear of missing out. That’s why you need to do it now rather than waiting.

• Plus, the bonus is big enough that you can redeem and get an award quickly. That demonstrates value to the cardmember quickly and up front. It overcomes trust problems. Rewards programs are intertemporal, usually requiring the consumer to commit first and hope for benefits later. The initial bonus inverts this, fronting value, the customer sees what the card delivers and doubles down on the card wanting more of those rewards

That’s the ‘why’ behind banks investing $1,000 or more in rewards value to a new customer right off the back. They hope to make it back on the customer’s spending (and, perhaps, interest charges) over time – a period of years – at least on a portfolio basis. You want to be one of the customers that’s less profitable in that portfolio, earning the most points possible for your spending and redeeming in the most expensive ways (like transferring points to Hyatt – that costs a lot).

Here are the 5 biggest and most valuable rewards card initial bonuses right now. That’s the quickest, easiest way to earn a large amount of miles and jump start your travel.

1. Chase Sapphire Reserve® (See rates and fees) is a $795 annual fee card comes with an offer to earn 150,000 point initial bonus after spending $6,000 on purchases in the first 3 months from account opening. Apply right now because this offer ends 9 a.m. Eastern on June 15.
   

   
   On an ongoing basis, earn 8x points on all purchases through Chase Travel^SM, including The Edit^SM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases.

   Get more than $3,000 in annual value with Sapphire Reserve including a $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year and get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables. Plus, get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music-all the music you love, across all your devices. Subscriptions run through 6/22/27 – a value of $250 annually.

   And I really like access to every Chase Sapphire Lounge® by The Club with two guests. My favorites are Philadephia and New York LaGuardia, though I’m looking forward to the openings of LAX and Dallas.

   

   Current points transfer partners include:

   • Airlines: United MileagePlus, British Airways Executive Club, Air France KLM Flying Blue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, Virgin Atlantic Flying Club, Iberia Plus, Aer Lingus AerClub, Air Canada Aeroplan, JetBlue TrueBLue
   • Hotels: World of Hyatt, Marriott Bonvoy, IHG One Rewards, Wyndham Rewards

   

2. American Express Platinum Card® is interesting considering that you may be eligible for as high as 175,000 Membership Rewards® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.

   Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.

   • More Value! With over 1,550 airport lounges – more than any other credit card company on the market* – enjoy the benefits of the Global Lounge Collection®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges. * As of 07/2025.

   • $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.

   • $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.

   • $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.

   • $400 Resy Credit + Platinum Nights by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card® to make eligible purchases with Resy, including dining purchases at U.S. Resy restaurants. Enrollment required. Plus, with Platinum Nights by Resy, you can get special access to reservations on select nights at participating in demand Resy restaurants with the Platinum Card®. Simply add your eligible Card to your Resy profile to book and discover Platinum Nights reservations near you.

   • $209 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.

   • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.

   • $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.

   • $155 Walmart+ Credit: Receive a statement credit* for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with the Platinum Card®.* Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.

   The card has an $895 annual fee. Terms Apply, see rates and fees.

   
   Centurion Lounge Seattle

3. Ink Business Preferred® Credit Card (See rates and fees) is back with a 100,000 bonus point offer after you spend $8,000 on purchases in the first 3 months from account opening.

   It’s a $95 annual fee that offers strong earn for your spend – 3 points per dollar 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.

   
   British Airways Business Class

4. Alaska Airlines Atmos Rewards Summit Card 100,000 Alaska Atmos Rewards bonus points after spending $6,500 within 90 days.

   You also earn a 25,000 point Global Companion Award after spending $6,500 within those 90 days, valid for a 25,000 mile discount taking a companion with you on an award redemtpion (valid for 12 months from issue).

   This $395 annual fee card offers 10,000 status points each account anniversary and a status point for ever $2 spent, comes with 8 annual lounge passes, and waives partner award booking fees and same day change fees, plus provides upgrade priority on Alaska flights and points-sharing.

5. United^SM Business Card (See rates and fees) has a $150 annual fee and an offer to earn up to 110,000 bonus miles.
   • 100,000 bonus miles + 2,000 PQP after you spend $5,000 on purchases in the first 3 months your account is open.
     
   • 10,000 BONUS MILES when you add an employee card in the first 3 months your account is open.

   You’ll receive a $125 United travel credit after making 5 United flight purchases of $100 or more each calendar year with the card. They even encourage you to have both a business and personal United card because you’ll receive receive a 5,000-mile “better together” bonus each anniversary when you have both the United^SM Business Card and a personal Chase United® credit card.

   

The key is remembering that a great card bonus is not the same thing as a great long-term card. Take the upfront value when the math works, shift spend to the cards that reward you most, and keep only the products that continue to justify their cost after the bonus is gone.