Best Credit Card Deals and Bonuses This Week: May 30, 2022

With the busy summer travel season approaching, it’s an excellent time to boost your points, miles, and cash back balances by opening a new credit card. There are dozens of lucrative offers currently available — including increased bonuses and even brand-new cards from major card issuers. Many are record-high welcome bonuses of 100,000 points or more — but some are only available for a limited time.

Credit card news this week

It’s your last chance to apply for the huge offer on the much-loved Chase Sapphire Preferred® Card. Until June 1, 2022, you can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s worth $800 in cash back, $1,000 in travel booked through Chase, or $1,440 or more when you transfer points to Chase’s airline and hotel partners for award travel.

Southwest flyers have new welcome bonus offers to consider on the Southwest Rapid Rewards® Plus Credit Card, Southwest Rapid Rewards® Premier Credit Card, and Southwest Rapid Rewards® Priority Credit Card — and they’re among the highest we’ve ever seen. Through July 11, 2022, all three cards are offering 75,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening (worth around $1,050 in flights, based on Insider’s valuations). These bonuses and points earned from spending on the cards also count toward the Southwest Companion Pass, which can get you nearly 2-for-1 travel once you qualify for it.

New offers are landing constantly, which makes for an excellent opportunity to take advantage of an increased credit card bonus to set you up with rewards you can use for travel or to offset your everyday expenses..

Here are some of the best credit card offers to consider this week.

Flexible rewards credit card bonuses

Transferable credit card points are best if you value flexibility because there are so many ways to redeem them. With programs like American Express Membership Rewards, Chase Ultimate Rewards, Citi ThankYou Rewards, and Capital One Rewards, you’ve got options that include:

• Transferring points to airline and hotel partners
• Redeeming points directly for travel at a fixed rate
• Turning points into cash back or statement credits
• Cashing in points for gift cards, merchandise, and more

The Chase Sapphire Preferred® Card has long been one of the most popular travel rewards cards, and right now it’s got a bonus that’s 20,000 points higher than the usual offer. New cardholders can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening — an excellent value for a modest $95 annual fee. 

The Chase Sapphire Preferred® Card comes with outstanding travel and purchase protections, along with useful perks that include up to $50 in annual credits toward hotels booked through Chase and a 10% points bonus on your account anniversary. Here’s our full Chase Sapphire Preferred review for all the details.

If you missed out on the 100,000-mile Capital One Venture X Rewards Credit Card bonus that ended recently, there’s still good reason to consider the card. The new offer to earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening is worth $750 in travel when you redeem miles at a rate of 1 cent each to erase eligible travel bookings. But you could potentially get even more value when you transfer Capital One miles to airline and hotel partners for award travel.

Our favorite under-the-radar card is the Citi Premier® Card. It offers excellent earnings in categories that fit well whether you’re sticking close to home or on the road — 3x points on air travel, gas stations, restaurants, supermarkets, and hotels, and 1 point per dollar on everything else. 

Another excellent deal is one of the best cards with premium travel and shopping benefits, The Platinum Card® from American Express
. You can currently earn 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership — here’s our Amex Platinum card review to learn more.

Small-business credit card bonuses

If you’re a small-business owner, opening a small-business credit card can offer a lot of benefits. Keeping your business and personal expenses separate makes it easier to keep track of expenses, and many cards offer bonus points, miles, or cash back in popular business spending categories.

You don’t have to own a full-time business or make millions to be eligible to apply — even if you’re a freelancer or have a side gig, you could qualify for a small-business card. The Business Platinum Card® from American Express
and Ink Business Preferred® Credit Card are both offering six-figure bonuses after meeting minimum spending requirements, and, depending on how you redeem them, you could get a value of $2,160 for the The Business Platinum Card® from American Express and $1,800 for the Ink Business Preferred® Credit Card.

Cash-back credit card bonuses

Our top pick for the best cash-back credit card overall, the Wells Fargo Active Cash® Card (Rates & Fees), is a good pick if you prefer a strong 2% cash rewards rate on your purchases. Other excellent options, like the Chase Freedom Flex℠, Chase Freedom Unlimited®, and the Citi Custom Cash℠ Card, aren’t exclusively cash-back cards (though they’re marketed that way) — and they, too, are worth considering.

But right now, the Blue Cash Preferred® Card from American Express has an elevated welcome bonus offer that can help you offset some of your upcoming expenses. New cardholders can earn a $300 statement credit after spending $3,000 in purchases on your new card within the first 6 months. 

You’ll also earn 6% cash back on your first $6,000 in U.S. supermarket spending each year (then 1% back), 6% cash back on select U.S.

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services, 3% back on U.S. gas stations and transit, and 1% back on all other eligible purchases (cash back is earned in the form of Rewards Dollars).