Here are the top credit card bonuses available now that the Chase Sapphire Preferred record-high offer is gone

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A credit card welcome bonus is an incentive offered by banks to entice new customers to begin spending on their cards. These typically come in the form of a lump sum of travel rewards or cash back. For consumers, it's an excellent opportunity to jumpstart their credit card rewards journey.

The Chase Sapphire Preferred® Card card recently offered a record-breaking welcome bonus for new cardholders. However, that deal has now ended — but that doesn't mean that there aren't other amazing bonuses available.

However, before you select a card on a whim, it's critical to reflect on your own financial needs, your budget and what type of rewards you desire to ensure you select the right card.

Select analyzed current welcome bonuses available to consumers in each credit card category, and found several with excellent value and features. Keep in mind that if you're a small business owner you can find some excellent offers on small business credit cards that may be higher than the bonuses listed on personal cards below.

Travel card with transferable points: The Platinum Card® from American Express

Current welcome bonus: 80,000 Membership Rewards® points after spending $8,000 within six months of account opening.

The Amex Platinum is one of the most sought-after travel cards because of its points-earning potential and long list of benefits and credits. And with an excellent welcome offer of 80,000 Membership Rewards points, it delivers a lot of upfront value to cardholders. However, it comes with a steep $695 annual fee (see rates and fees). But as with many credit card annual fees, by using the benefits, you can quickly offset the cost.

And the points you can earn in this welcome bonus are extremely valuable. At the bare minimum, you will have 88,000 Membership Rewards points after you meet the minimum spend threshold. Membership Rewards are generally valued at two cents per point, giving you $1,760 in rewards that can be transferred to Amex's travel partners.

Cash back: Blue Cash Preferred® Card from American Express

Current welcome bonus: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first six months.

The Blue Cash Preferred® Card from American Express is an excellent choice for a cash back credit card, especially with the broad spending categories and valuable welcome offer it comes with. As you spend on the card, you will earn: 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1%) and with select U.S. streaming services, 3% cash back on transit (i.e. taxis and rideshare) and at U.S. gas stations and 1% cash back on all other purchases.

Additionally, the card comes with a 0% intro APR on purchases for the first 12 months from the date of account opening, then a variable APR, 19.24% - 29.99% (see rates and fees; variable APRs will not exceed 29.99%). This is a great strategy to finance a large purchase like an iPhone, or possibly for your upcoming holiday shopping.

After meeting the minimum spend threshold of $3,000 within the first six months, you will have at least $380 back in your pocket — a net return of more than 12% on your spending.

Select calculated how much the average American can earn in a year using the Blue Cash Preferred. We worked with the location intelligence firm Esri, who provided us with a sample annual spending budget of $22,126. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953).

With these numbers in mind, the average American would earn $524 in cash back per year with the Blue Cash Preferred, and that doesn't even include the welcome bonus offer.

0% intro APR: Wells Fargo Active Cash® Card

Current welcome bonus: $200 cash rewards bonus after spending $500 in purchases in the first three months.

A 0% intro APR credit card doesn't have to simply be about interest-free financing on your purchases. You can also earn rewards at the same time. The Wells Fargo Active Cash® Card is a perfect example of this.

With this card, you will earn 2% cash-rewards on purchases, in addition to having a 15 month 0% introductory period on purchases and qualifying balance transfers from account opening (after, 20.24%, 25.24%, or 29.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a balance transfer fee of up to 5%, $5 minimum).

And using the same annual spending budget number above ($22,126), the average American would earn $442 in cash back using the Active Cash Card. And once you add in the $200 welcome offer, that is a cumulative $642 in the first year of spending.

No annual fee: Blue Cash Everyday® Card from American Express

Current welcome offer: Earn a $200 statement credit after you spend $2,000 in purchases on your new card within the first 6 months.

A no-annual-fee credit card can be a great spending solution for someone looking for a no-frills credit card. And the Blue Cash Everyday Card from American Express is a great card for that (see rates and fees). And you can still earn a solid welcome bonus along the way.

With this card, you will earn 3% cash back at U.S. supermarkets (up to $6,000 a year, then 1% thereafter). You can also earn 3% cash back at U.S. gas stations, (on up to $6,000 in purchases per year, then 1%), and 1% cash back on all other purchases.

There is a very similar question among consumers who are new to credit card rewards: "What's the best credit card?" Well, there is no best credit card. The best credit card is the one that fits your goals and spending patterns.

To find the right credit card for you, try to "reverse engineer" your needs. In other words, don't get a credit card and make it work for you. Ask yourself these questions, and then find a card that fits how you spend:

• Am I more interested in travel rewards or cash back?
• Am I open to paying an annual fee? If so, what's my limit?
• Where do I make the majority of purchases?
• What benefits would I find most useful?

But most importantly, be sure to ask yourself if you're financially responsible enough for a credit card. Millions of Americans end up in credit card debt each year for a multitude of reasons, with one of them being overspending. If you fear you may not be ready for a credit card, there is nothing wrong sticking with a debit card or paying with cash.

Earning a credit card sign-up bonus is the best way to earn a ton of rewards quickly. Once you decide cash back or travel rewards are your preference, ask yourself if you can earn the applicable welcome bonus in a responsible way. It isn't advisable to overspend or make purchases you don't need in order to attain a welcome bonus.

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For rates and fees of The Platinum Card® from American Express, click here.

For rates and fees of Blue Cash Preferred® Card from American Express, click here.

For rates and fees of Blue Cash Everyday® Card from American Express, click here.