What are the most valuable credit card sign-up bonuses?
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It’s time for our annual rank of the best UK travel credit card sign-up bonuses in terms of cold hard cash.
This article was updated on 1st December 2021, and all of the information is correct as of that date. Ignore the original publication date shown.
How do I value my miles and points?
The biggest question mark is over the value of the sign-up bonus.
- For hotel points, I have used my standard valuations (0.5p per Marriott Bonvoy point, 0.4p per IHG Rewards point)
- For airline miles, I assume they are worth 1p each. Of course, for airlines where short-haul redemptions are bad value, a small amount of miles can be effectively worthless. In some programmes, you would need to already have a decent balance to get full value from the bonus miles.
- I have valued American Express Membership Rewards points at 1p since they transfer 1:1 into airline miles and I am valuing those at 1p
All of these cards add a 3% foreign exchange fee so you might want to get a separate free credit card to use abroad.
Unfortunately there are no travel rewards cards without a foreign exchange fee. One option is to get a free card from Currensea. Currensea is a simple but clever idea. You pay abroad with your Currensea Mastercard debit card. Currensea translates the cost to Sterling with just a 0.5% fee (83% less than usual) and withdraws the money from your bank account. You can find out more by clicking here. Currensea is free so there is no risk in giving it a try.
It is important to remember that annual fees on American Express cards are refundable pro-rata if you cancel. Cancel a card after three months, for example, and 75% of the fee will be refunded. You will keep any sign-up bonus you have earned.
Bring on the winners
OK … here we go. Remember that full details on all the cards can be found on our airline and hotel credit cards directory, which is updated monthly.
GOLD: £400 of value – HSBC Premier World Elite Mastercard
You get 80,000 HSBC points (which convert to 40,000 Avios or other airline mile) which I value at £400. You need to spend spend £12,000 in your first year. You need to pay the fee for the second year in order to receive the full bonus. Note that HSBC Premier has strict eligibility criteria and most people will not qualify.
Sign-up bonus and earnings rate:
- Get 80,000 HSBC points, paid over two years
- Earns 2 HSBC points per £1 spent
- Points convert at 2:1 into Avios
Other information:
- Only available to HSBC Premier account holders
- Receive free airport lounge access with LoungeKey
- Annual fee: £195
Representative 59.3% APR variable based on an assumed £1,200 credit limit and £195 annual fee. Interest rate on purchases 18.9% APR variable.
The sign-up bonus on the HSBC Premier World Elite Mastercard is 80,000 points.
This is paid in two parts. You receive 40,000 HSBC points (worth 20,000 Avios or other airline miles) for spending £2,000 within three months and a further 40,000 HSBC points (=20,000 miles) for spending £12,000 within twelve months.
The annual fee is £195 and you need to pay the fee for the second year in order to receive the second half of the bonus.
There is no restriction on receiving the bonus if you have previously held the card, as long as you cancelled it over six months ago, or are upgrading from the free HSBC Premier Mastercard.
The points earned with the HSBC Premier World Elite Mastercard can be transferred to four airline frequent flyer schemes – British Airways Avios, Cathay Pacific Asia Miles, Etihad Guest or Singapore Airlines KrisFlyer.
They can also be redeemed for other items including retailer gift cards.
Cardholders can access any airport lounge in the LoungeKey network for free. No guest are allowed, but you can get your partner a supplementary credit card on your account for an annual fee of £60. Children would be charged at £20 per visit.
You need to be a HSBC Premier current account holder to apply for this card. HSBC Premier comes with a range of additional benefits including comprehensive travel insurance.
GOLD: £300 of value – The Platinum Card from American Express
You get 30,000 Membership Rewards points (worth £300 as they convert to 30,000 airline miles, assuming 1p per airline mile) when you spend £4,000 in three months. Annual fee refunded pro-rata if you cancel.
Most importantly, though, you will retain your Marriott Bonvoy Gold card, Radisson Rewards Gold card, MeliaRewards Gold and Hilton Honors Gold card for a full 12 months, even if you cancel. This adds substantial extra value to the package. Apply here.
Sign-up bonus and earnings rate:
- Get 30,000 Membership Rewards points when you spend £4,000 within three months
- Earn 1 Membership Rewards point per £1 spent
- Points transfer at 1:1 into Avios, Virgin and other airline and hotel schemes
Other information:
- Two Priority Pass cards, each allowing two people into 1,300 airport lounges
- Elite status in four major hotel loyalty programmes
- Comprehensive travel insurance
- Annual fee: £575
This is a charge card, not a credit card. You must clear your balance in full each month. Annual fee £575.
You will receive 30,000 American Express Membership Rewards points as a sign-up bonus on The Platinum Card if you spend £4,000 within three months of signing up.
Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
This is the ONLY personal American Express card where you still qualify for the bonus if you already hold a British Airways American Express card.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card which earns Membership Rewards points. This includes The Platinum Card and Preferred Rewards Gold.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held any other American Express card, including the British Airways, Marriott and Nectar cards.
If you cancel The Platinum Card at any point, you will receive a pro-rata refund of your membership fee. You will not lose your sign-up bonus.
For clarity, you can still apply for The Platinum Card even if you do not qualify for the bonus. You would still benefit from the long list of other benefits.
The Platinum Card from American Express comes with an unrivalled list of benefits for the keen traveller.
Your personal travel patterns will determine which of these is the most valuable. The key benefits are:
Full comprehensive travel insurance for you, your family and the family of up to five supplementary cardholders, subject to enrolment
Two Priority Pass cards, each of which allows the holder and a guest unlimited free access to 1,300 airport lounges
Elite status in four major hotel loyalty schemes: Marriott Bonvoy (Gold), Hilton Honors (Gold), Radisson Rewards (Gold), MeliaRewards (Gold)
Access to Eurostar lounges, irrespective of travel class
£10 per month of Addison Lee taxi credit
SILVER: £250 of value – British Airways American Express Premium Plus
You get 25,000 Avios points (worth £250 assuming 1p per Avios) when you spend £3,000 in three months. Annual fee refunded pro-rata if you cancel. Apply here.
Sign-up bonus and earnings rate:
- Get 25,000 Avios when you spend £3,000 within 90 days
- Earn 1.5 Avios per £1 spent
- Earn 3 Avios per £1 spent with British Airways and BA Holidays
Other information:
- Receive a companion voucher, letting you book two flights for the Avios of one, when you spend £10,000 in a card year
- The voucher is valid for flights in any cabin
- Annual fee: £250
Representative 101.1% APR variable based on an assumed £1,200 credit limit and £250 annual fee. Interest rate on purchases 24.5% APR variable.
You will receive 25,000 Avios as a sign-up bonus on the British Airways American Express Premium Plus card if you spend £3,000 within 90 days of signing up.
To qualify for the bonus, you must not have held the British Airways Premium Plus or the free British Airways American Express cards in the previous 24 months.
You are OK if you had a supplementary card on someone else’s British Airways American Express account.
You are OK if, currently or in the previous 24 months, you have held any other American Express card.
For clarity, you can still apply for the British Airways Premium Plus card even if you do not qualify for the bonus. You would still benefit from the companion voucher and all of the other card benefits.
When you spend £10,000 on the British Airways American Express Premium Plus card, you receive a companion voucher entitling you to book two Avios redemption flights for the miles of one. This voucher is valid for two years. (Full taxes and charges need to be paid on both tickets.)
This voucher is the most valuable perk available in the UK airline and hotel credit card sector in my view. It could save you 150,000 or more Avios when used for a long-haul redemption in a premium cabin.
The voucher with the Premium Plus card is far more powerful than the voucher given with the free British Airways American Express card. You only need to spend £10,000, instead of £20,000, in a card year to receive it. More importantly, the Premium Plus voucher is valid for two years and is valid in ALL cabins. The voucher on the free British Airways American Express card is only valid for one year and can only be used for Economy flights.
You receive your voucher within a few days of reaching the spending target. You need to fly the outbound leg of your 2-4-1 flight before the expiry date of the voucher.
SILVER: £200 of value – American Express Preferred Rewards Gold
You get 20,000 Membership Rewards points. These convert 1:1 into Avios and many other airline schemes so I have valued them at £300, assuming 1p per mile. You need to spend £3,000 in three months. No fee in the first year. Apply here.
Sign-up bonus and earnings rate:
- Get 20,000 Membership Rewards points when you spend £3,000 within 90 days
- Earn 1 Membership Rewards point per £1 spent
- Get a 10,000 points bonus if you spend £15,000 in a card year
- Earn double points on all airline and overseas spend
- Points transfer at 1:1 into Avios, Virgin and other airline schemes
Other information:
- Amex Gold is our recommended ‘first card’ for a miles and points beginner
- Get two free airport lounge passes when you sign up, and a further two each year
- After your two free passes, you can visit further lounges for a small fee
- You receive £120 of Deliveroo credit each year (24 x £5 credits)
- Annual fee: Free for the first year, £140 from Year 2
Representative 59.9% APR variable. Annual fee applies after the first year.
You will receive 20,000 American Express Membership Rewards points as a sign-up bonus on the American Express Preferred Rewards Gold card if you spend £3,000 within 90 days of signing up.
Membership Rewards points are hugely flexible, which is why we recommend this as the best choice for your first miles and points card. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the American Express Preferred Rewards Gold card even if you do not qualify for the bonus. You would still benefit from the two free airport lounge passes and the ‘no fee in Year 1’ offer.
American Express Preferred Rewards Gold comes with two free airport lounge passes. These allow either you and a friend, or yourself twice, to visit any lounge in the Priority Pass network. You make additional lounge visits for £20 per person. You receive an additional two free passes each year.
You earn double Membership Rewards points on all airline spend (made directly on an airline website) and all spend made outside the UK.
If you spend over £15,000 in a card year, you will receive an additional 10,000 Membership Rewards points when you renew.
Starting in May 2021, you receive £120 of Deliveroo credit each year. Amex will repay you £5 for the first two Deliveroo orders charged to your Gold card each month.
Other benefits include a 10% discount on Hertz car rentals and special deals at 350 selected hotels worldwide, where Preferred Rewards Gold cardholders receive a $75 in-hotel credit per stay.
BRONZE: £150 of value – Virgin Atlantic Reward+ Mastercard
You get 15,000 Virgin Points (£150 based on achieving 1p per point) bonus with your first purchase. £160 fee. Apply here.
Sign-up bonus and earnings rate:
- Get 15,000 Virgin Points when you spend £3,000 within 90 days
- Earn 1.5 Virgin Points per £1 spent
- Earn 3 points per £1 spent with Virgin Atlantic
- Highest return per £1 of any UK Visa or Mastercard
Other information:
- Get a ‘2 for 1’ voucher, valid on cash or points tickets, when you spend £10,000 in a year
- Alternatively, claim an upgrade voucher or Clubhouse lounge passes
- Get free access to Virgin Money lounges across the UK
- Annual fee: £160
Representative 63.9% APR variable based on an assumed £1,200 credit limit and £160 annual fee. Interest rate on purchases 22.9% APR variable.
You receive a bonus of 15,000 Virgin Points with your first purchase.
There are no restrictions on earning the bonus if you are accepted. However, you cannot apply for a card if you currently have, or in the previous six months have had, a Virgin Atlantic credit card.
All Virgin Atlantic credit card holders receive free access to Virgin Money lounges across the UK.
When you spend £10,000 per year on the Virgin Atlantic Reward+ Mastercard, you can choose a benefit. This is what you can pick from:
A 2-4-1 voucher, valid for two years, for a Virgin Atlantic cash flight or Virgin Flying Club redemption, in Upper Class, Premium or Economy
A return upgrade – on either a cash or points ticket – from Premium to Upper Class, or from Economy Delight/Classic to Premium. You can either upgrade 1 x return flight if travelling alone or 2 x one-way legs of two return flights if travelling with someone else.
A Virgin Clubhouse lounge pass (requires a same-day Virgin Atlantic, Delta, KLM or Air France flight)
Here’s the small print:
If you are a Red (no status) member, you need to pay 50% of the points for your 2nd ticket if you redeem your 2-4-1 voucher in Upper Class. This means that, for Upper Class redemptions for Red members, it is effectively a ‘2 for 1.5’ voucher. For Economy or Premium redemptions, it is a genuine ‘2 for 1’.
If you are a Gold member, you would receive two Clubhouse lounge passes instead on one if you chose that option
Taxes and charges need to be paid on the ‘free’ ticket as part of your 2-4-1 booking
Vouchers are valid for two years and you must fly the outbound leg of your trip before the expiry date
BRONZE: £125 of value – Nectar American Express
You get 20,000 Nectar points. These convert at 400:250 into Avios (12,500 Avios in total) so I have valued them at £125, assuming 1p per mile. You need to spend £2,000 in three months. Annual fee refunded pro-rata if you cancel. Apply here.
Sign-up bonus and earnings rate:
- Get 20,000 Nectar points when you spend £2,000 within 90 days
- Earn 2 Nectar points per £1 spent
- Points transfer at 400 : 250 into Avios
- Points are worth 0.5p each when spent at Sainsbury’s, Argos or eBay
Other information:
- From January 2021, you can convert Nectar points into Avios (and vice versa)
- Annual fee: Free for the first year, £25 from Year 2
Representative 29.8% APR variable. Annual fee applies after the first year.
You will receive 20,000 Nectar points as a sign-up bonus on the Nectar American Express credit card if you spend £2,000 within 90 days of signing up.
Nectar points are worth 0.5p each if spent in Sainsbury’s, Argos or eBay. From January 2021 they can also be converted to Avios at the rate of 400 : 250. 1 Nectar point gets you 0.625 Avios.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the Nectar American Express card even if you do not qualify for the bonus. You would still benefit from the ‘no fee in Year 1’ offer.
The Nectar American Express credit card comes lets you earn 2 Nectar points for every £1 you spend. This is on top of any Nectar points you would usually earn at Sainsbury’s and other Nectar partners.
Converted to Avios, you would be earning 1.25 Avios per £1. This makes the card better value than the free British Airways American Express credit card for your first year, as the Nectar American Express is ‘fee free’ for the first 12 months. There is a £25 annual fee from Year 2.
The sign-up bonus of 20,000 Nectar points is worth £100 to spend in Sainsbury’s, Argos or eBay.
20,000 Nectar points can also be converted into 12,500 Avios.
BRONZE: £100 of value – Marriott Bonvoy American Express
You get 20,000 Marriott Bonvoy points, valued at £100 as I value Marriott Bonvoy points at 0.5p each. You need to spend £3,000 in three months. Annual fee refunded pro-rata if you cancel. Apply here.
Sign-up bonus and earnings rate:
- Get 20,000 Marriott Bonvoy points when you spend £3,000 within 90 days
- Earn 2 Marriott Bonvoy points per £1 spent
- Earn 6 points per £1 spent at Marriott hotels
- Points convert at 3:1 into Avios or other airline miles
Other information:
- 15 elite night credits per year to help you towards higher status
- Free night, up to 25,000 points, when you spend £25,000 per year.
- Upgrade to Gold Elite status when you spend £15,000 in a card year
- Annual fee: £75
Representative 41.6% APR variable based on an assumed £1,200 credit limit and £75 annual fee. Interest rate on purchases 24.5% APR variable.
You will receive 20,000 points as a sign-up bonus on the Marriott Bonvoy American Express card if you spend £3,000 within 90 days of signing up.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the Marriott Bonvoy American Express card even if you do not qualify for the bonus. You would still benefit from the 15 elite night credits per year, the free night (up to 25,000 points) for spending £25,000 and Gold Elite status for spending £15,000.
You will receive 15 elite night credits per year in Marriott Bonvoy. The first batch will arrive within 60 days on applying and then in Spring in each subsequent year.
15 elite nights will automatically get you Silver Elite status in Marriott Bonvoy and put you nearer to Gold Elite and higher tiers.
If you spend £15,000 per card year, you will be upgraded to Gold Elite status in Marriott Bonvoy.
If you spend £25,000 per card year, you will receive a free night voucher, valid at any hotel where reward nights cost up to 25,000 points.
£50 of value – British Airways American Express
You get 5,000 Avios, which I value at £50 based on achieving 1p per mile, when you spend £1,000 within three months. No annual fee. Apply here.
Sign-up bonus and earnings rate:
- Get 5,000 Avios when you spend £1,000 within 90 days
- Earn 1 Avios per £1 spent
Other information:
- Receive a companion voucher, letting you book two flights for the Avios of one, when you spend £12,000 in a card year
- The companion voucher is only valid on Economy flights
- Annual fee: Free
Representative 24.5% APR variable
You will receive 5,000 Avios as a sign-up bonus on the free British Airways American Express card if you spend £1,000 within 90 days of signing up.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s British Airways American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the British Airways American Express card even if you do not qualify for the bonus. You would still benefit from the companion voucher and the other card benefits.
When you spend £12,000 on the British Airways American Express card, you receive a companion voucher entitling you to book two Avios redemption flights for the miles of one. This voucher is valid for one year. (Full taxes and charges need to be paid on both tickets.)
The voucher on the free British Airways American Express card can only be used on Economy flights.
You receive your voucher within a few days of reaching the spending target. You need to fly the outbound leg of your 2-4-1 flight before the expiry date of the voucher.
If you want more flexibility, the voucher issued with the British Airways Premium Plus American Express card is valid for two years, only requires £10,000 of annual card spend and is valid in ALL cabins including Business and First. The Premium Plus card also has a higher earning rate of 1.5 Avios per £1 on general spend and 3 Avios per £1 on spend with British Airways and BA Holidays.
£50 of value – Sainsbury’s Nectar Mastercard
You get 8,000 Nectar points which converts to 5,000 Avios. I value these at £50 based on achieving 1p per mile. You need to spend £400 at Sainsbury’s and Argos in two months. No annual fee. Apply here.
Sign-up bonus and earnings rate:
- Get 8,000 Nectar points when you spend £400 at Sainsbury’s or Argos within 60 days
- Earn 1 Nectar point per £5 spent
- Points convert at 1:0.625 into Avios
Other information:
- Sign-up bonus converts to 5,000 Avios
- Card earns a higher rate of 1 Nectar point per £1 in Sainsbury’s and Argos
- Annual fee: Free
Representative 20.9% APR variable
You receive 8,000 Nectar points as a sign-up bonus when you spend £400 at Sainsbury’s and Argos within 60 days.
It is recommended that you have held a Nectar reward card for six months before applying but you may still be accepted if you haven’t.
You will receive 0% interest on balance transfers for 12, 14 or 17 months depending on circumstances.
You will receive 0% interest on purchases for 12, 14 or 17 months depending on circumstances.
£50 of value – Amex Rewards Credit Card
You get 5,000 Membership Rewards points, worth £50 as they convert 1:1 into Avios, assuming 1p per airline mile. You need to spend £2,000 within three months. No annual fee. Apply here.
Sign-up bonus and earnings rate:
- Get 5,000 Membership Rewards points when you spend £2,000 within 90 days
- Earn 1 Membership Rewards point per £1 spent
- Points transfer at 1:1 into Avios, Virgin and other airline schemes
Other information:
- Your best choice if you want a ‘free for life’ card which earns Membership Rewards points
- A good choice if you want to close a Gold or Platinum card but keep your points intact
- Annual fee: Free
Representative 24.5% APR variable
You will receive 5,000 American Express Membership Rewards points as a sign-up bonus on the American Express Rewards card if you spend £2,000 within 90 days of signing up.
Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the American Express Rewards card even if you do not qualify for the bonus. You may want to do this if you are thinking of swapping your Preferred Rewards Gold or Platinum card for a free alternative, and would prefer to keep your existing Membership Rewards points balance alive.
American Express Rewards is the only ‘free for life’ American Express card which lets you collect Membership Rewards points.
We do NOT recommend this card if you would also qualify for the sign-up bonus on American Express Preferred Rewards Gold. The Gold card is free for the first year, comes with two free airport lounge passes and has a higher sign-up bonus of 10,000 points.
The best reason to get American Express Rewards is if you are coming to the end of your free first year with American Express Preferred Rewards Gold, or no longer want to pay the fee on The Platinum Card, but want to keep your Membership Rewards points intact.
£40 of value – IHG Rewards Mastercard
10,000 IHG Rewards points, worth £40 as I value an IHG point at 0.4p, when you spend £200 in 90 days. No annual fee.
Sign-up bonus and earnings rate:
- Get 10,000 IHG Rewards points when you spend £200 within 90 days
- Earn 1 IHG Rewards point per £1 spent
- Points convert at 5:1 into Avios or other airline miles
Other information:
- Receive Gold Elite status in IHG Rewards
- Points from spend count towards elite status
- Annual fee: Free
Representative 22.9% APR variable
You receive 10,000 IHG Rewards points as a sign-up bonus when you spend £200 within 90 days.
There are no restrictions on receiving the bonus if you have previously held this card or the (no longer available) IHG Rewards Premium Mastercard.
All IHG Rewards cardholders receive Gold Elite status in IHG Rewards for as long as they hold the card.
This is the only UK travel card where the points you earn from spending count towards elite status. The 10,000 points you receive as a sign-up bonus do not count towards elite status, however.
The HSBC Premier credit card, Virgin Atlantic Reward Mastercard and Tesco Clubcard Mastercard (points convert to Virgin Points) have no sign-up bonus.
Summary
If there is anything to learn from this bit of fun, it is this:
If you and your partner took out the best three credit cards each, you could get almost £2,000 of value from the sign-up bonuses between you based on my valuation model. This is certainly nothing to be sniffed at.
Do not underestimate the value of the hotel cards. Whilst a small number of airline miles has little value, a small number of hotel points can get you one night somewhere, and one night is often all you need.
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Card Offers’ link in the menu bar at the top of the page.)
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.
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