Travel card sign-up bonus history 2019–2026: how welcome offers have grown
The average travel card sign-up bonus has grown 44% since 2019. Here's the full timeline — and what changed to drive issuers to compete harder.
Travel card sign-up bonuses increased sharply in 2020–2021 as issuers competed for customers during the pandemic travel freeze — unusually large offers (100,000–150,000 points) became common as banks tried to acquire new cardholders despite low near-term spending.
The post-pandemic travel surge (2022–2023) maintained bonus inflation. Issuers found that elevated welcome offers drove acquisition without significantly increasing redemption costs — most bonus points go unredeemed or are redeemed at low-value options.
Ultra-premium cards (Amex Platinum at $695/yr, Chase Sapphire Reserve at $550/yr) offer the largest absolute bonuses (80,000–150,000 points in elevated periods), but the effective value per fee dollar is often comparable to mid-tier cards. The real differentiation is in ongoing earn rates and travel benefits.
Last updated 2026-04-01 · CFPB Consumer Credit Card Market Report 2023
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Compare Chase Sapphire, Amex Gold, Capital One Venture, and Citi Premier side by side on sign-up bonus, annual fee, and points-per-dollar.
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FAQ
How often can I earn a sign-up bonus?
Most issuers restrict bonus eligibility to once per card. Chase's 5/24 rule limits new card approvals if you've opened 5+ cards in 24 months. Amex has a 'once per lifetime' rule per card product but allows bonuses on different products. Capital One has no published restriction.
What's the minimum spend requirement to earn a sign-up bonus?
Most travel cards require $3,000–$5,000 in purchases within the first 3 months. Ultra-premium cards like Amex Platinum sometimes require $6,000–$8,000. If you can't hit the spend requirement organically, the bonus may not be worth applying for.
Are sign-up bonuses taxable?
No. The IRS treats credit card rewards (including sign-up bonuses earned through spending) as rebates, not income. Referral bonuses not tied to spending may be taxable — check with your tax advisor.
What was the biggest travel card sign-up bonus ever offered?
The Amex Platinum and Chase Sapphire Reserve have each offered 100,000+ point bonuses during elevated periods. Some targeted retention offers have gone higher. The Amex Business Platinum has offered up to 200,000 points in select periods.
Sources
For general guidance only — individual results vary. Not financial, legal, or tax advice.