Sign-Up Credit Cards

Sign-up bonus credit cards offer a great way to earn rewards as soon as you become a card member. Most rewards cards let you start earning a percentage of cash back or a couple of airline miles for each dollar you spend. Sign-up bonus credit cards do the same, but also give you a big payout early on if you reach a spending threshold in the first few months.

These cards are great, if used wisely. Since many sign-up bonus credit cards come with a spending threshold in order for you to get the bonus, opening a new card can lead to an initial burst in spending. Unless you're prepared to pay off that new credit card balance quickly, it's best to wait to get one of these cards. Carrying a balance can quickly offset the sign-up bonus if you end up paying more in interest. Additionally, the best sign-up bonus credit card typically require excellent credit for approval, so check your approval odds on Credit Karma before you apply.