The welcome bonus is the top reason why people shop for new credit cards—here are 3 not to miss

While the pandemic upended consumers' spending habits — with people more hesitant to shop in-person or to enjoy a dinner out — it didn't significantly change credit card usage. According to a new 2021 JD Power study looking at the experiences of Americans who applied for, or were thinking about applying for, credit cards in the past year, people were as likely to sign-up for travel credit cards in 2020 as they have been in years past.

The results of the study showed that travel credit card acquisition and satisfaction remained steady, says John Cabell, director of banking and payments intelligence at JD Power. He notes that credit card issuers have responded to consumers' changing spending behavior by adapting and changing their rewards programs.

"It will be interesting to see as consumer behavior continues to evolve how these programs will continue to adapt, and whether [credit card] issuers will continue to offer as much flexibility as they have in the last few months with different sorts of rewards programs," Cabell says. "There's definitely a competition right now with promotional offers and bonus offers."

The study found people were more likely to sign up for a new card in order to get a better rewards program, collect a sign-up bonus and/or receive better credit card terms.

There are no shortage of tempting welcome bonus offers at the moment, with cards like Chase Freedom Flex℠, Chase Sapphire Preferred® Card and the Capital One SavorOne Cash Rewards Credit Card (see rates and fees) all offering new cardholders a good reason to sign up.

Below, Select breaks down some of the best bonuses you won't want to miss.

The Chase Freedom Flex℠ offers new cardholders a bonus of $200 if you spend $500 within three months of opening the account. With this card, there's no annual fee, and you can get 5% cash back on up to $1,500 worth of purchases each quarter in rotating categories, then 1%. (Activation is required — read more about the Chase 5% cash-back calendar). 

New cardholders signing up for a Chase Sapphire Preferred Card can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

The bonus is worth $600 if redeemed for cash back, but if you book travel through the Chase Ultimate Rewards® portal, point redemptions are worth 25% more, so the bonus is worth $750. The Sapphire Preferred also gives cardholders a $50 annual Ultimate Rewards Hotel Credit, plus 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases.

This card does have a $95 annual fee, but the welcome bonus covers the cost of the annual fee many times over. There are no foreign transaction fee, making it a great option for international travelers.

The Capital One SavorOne Cash Rewards Credit Card gives cardholders a one-time $200 cash bonus if they spend $500 within the first three months of opening the account. Beyond that, there's no annual fee or foreign transaction fees (see rates and fees), and the card offers 3% cash back on dining and entertainment, 3% on eligible streaming services, 3% at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases. It's great for people who anticipate dining out or attending concerts more in the near future.

Regardless of whether you're searching for a credit card to get a big bonus or to reap more rewards or cash back on your purchases, there are a multitude of different cards available that offer you both.

It's important to remember that you should avoid overspending in order to get a credit card welcome bonus, as you'll pay more in interest charges if you carry a balance than you'll make up in points or cash back.