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If you’re considering a new credit card, one of the first things you should look at is what are the current credit card offers in Canada. That’s right – to get you to sign with them, many credit cards have incentives such as an increased welcome bonus or the annual fee being waived for the first year, all of which can be incredibly valuable.

Of course, the sign-up bonus isn’t the only thing you should look at when applying for a new card. You also need to consider the earn rate and additional benefits since the value you get from them can vary quite a bit depending on your spending patterns. Here’s a look at the best credit card promotions in Canada.

Current Best Credit Card Offers in Canada 

Credit CardCredit Card OfferAnnual FeeMore Info 
Tangerine Money-Back Credit CardEarn an extra 10% back* for a limited time with the Tangerine Money-Back Credit Card. (Conditions apply.)$0Read OnVisit Site
CIBC Dividend® Visa Infinite* CardGet 10% cash back (up to $200)* Plus, a first-year annual fee rebate!† $120 (first year annual fee rebate)† Read OnVisit Site
SimplyCash™ Preferred Card from American Express10% cash back on purchases for the first 4 months (up to $400 in cash back)$99Read OnLearn More
BMO CashBack® World Elite®* Mastercard®*Get up to 10% cash back in your first 3 months (up to $2,000 in total purchases)$120 (first year annual fee rebate)Read OnVisit Site
TD Cash Back Visa Infinite* CardGet 6% cash back on all card purchases for the first 3 months (up to a total spend of $2,000). Must apply by August 16, 2021$120 (Annual fee rebate for first year). Must apply by August 16, 2021Read OnVisit Site
BMO CashBack® Business Mastercard®*Get 10% cash back on gas, office supplies and cell phone/internet bills for 3 months*$0Read OnVisit Site
TD® Aeroplan® Visa Infinite* Card10,000 Aeroplan points after first purchase + 10,000 Aeroplan points after spending $1,000 in the first 90 days. Must apply by August 16, 2021$139 – rebated first year if you apply by August 16, 2021Read OnVisit Site
BMO AIR MILES®† World Elite®* Mastercard®2,000 AIR MILES Bonus Miles$120 (waived for first year)Read OnVisit Site
The American Express® Aeroplan®* CardUp to 15,000 Aeroplan points and a bonus Buddy Pass$120Read OnVisit Site
The American Express® Aeroplan®* Reserve CardUp to 65,000 Aeroplan points and a $100 statement credit$599Read OnVisit Site
CIBC Dividend Platinum® Visa* CardGet 10% cash back (up to $200)* Plus, a first-year annual fee rebate!† $99 (first year annual fee rebate)†Read OnVisit Site
CIBC Select Visa* Card0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate† $29 (first-year annual fee rebate)† Read OnVisit Site

†Conditions apply

Tangerine Money-Back Credit Card

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The Tangerine Money-Back Credit Card is always a handy card to have in your wallet, but now there’s an exciting welcome bonus as well. If you sign up as a new cardholder before August 16, 2021, you’ll get 10% cash back over the first two months (up to $1,000 in purchases). After that your earn rate goes down to 2% for two money-back categories of your choice, and 0.5% for everything else, which is still great for your everyday shopping. Plus, there are no limits on how much cash you can earn, and you can get a third 2% money-back category if you also have a Tangerine Savings account.

The Details:

  • Annual Fee: $0
  • Minimum Income Eligibility: $12,000
  • Credit Score Required: Good to Excellent
  • Additional Benefits: Automatic, monthly reimbursement to your credit card balance or savings account; unlimited cash back
  • Interest on Purchases: 19.95% | Interest on Cash Advances: 19.95%
  • Welcome offer: Apply for the Tangerine Money-Back Credit Card by August 16, 2021 and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*

Learn more about the Tangerine Money-Back Mastercard


CIBC Dividend® Visa Infinite* Card

Apply Now

The CIBC Dividend® Visa Infinite* Card has a stellar promo right now: new cardholders get a first-year annual fee rebate and 10% cash back for the first 4 statements on total purchases up to $2,000. That’s a value of $320! After that, you’ll get 4% cash back on eligible gas and grocery purchases, 2% cash back on eligible transportation, dining purchases and recurring payments†, and 1% cash back on all other purchases†. Plus, there’s no limit on the total cash back you can earn.

This card also comes with a suite of insurance coverage (including travel medical) and access to the exclusive luxury hotel and travel benefits offered through the Visa Infinite program.

The Details:

  • Annual Fee: $120 (first-year annual fee rebate)
  • Annual Interest on Purchases: 19.99%
  • Annual Interest on Balance Transfers: 22.99%
  • Annual Interest on Cash Advances: 22.99%† (21.99% QC only)
  • Income Eligibility: $60,000 individual or $100,000 household
  • Credit Score Required: Good
  • Welcome Offer: Get 10% cash back (up to $200)* Plus, a first-year annual fee rebate!†
  • Additional Benefits: Earn cash back on every dollar you spend, includes travel insurance, access to Visa Infinite benefits

†Conditions apply

Quebec Residents – Learn More about this CIBC product here

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce lien

Learn more about the CIBC Dividend® Visa Infinite* Card.

SimplyCash™ Preferred Card from American Express

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The SimplyCash™ Preferred Card from American Express offers excellent value. As a welcome offer, new cardholders earn 10% cash back on all eligible purchases for the first 4 months of card membership (up to $400 cash back). This is double the amount you can typically expect to earn with other cards offering a 10% cash back welcome offer, as it’s usually capped at $200 cash back.

After the promo period ends, you earn 2% cash back on all card purchases, with no limit to how much you can earn. There are very few credit cards on the market that offer such a generous base earn rate — and without a cap on earnings. So if you spend $2,000/month in card purchases, you would earn a grand total of $720 cash back in your first year.

If you refer any family or friends to this credit card, you could also get a referral bonus. For every approved referral, you get a $100 bonus that’s added to your cash back balance, up to a maximum of $1,500 cash back.

This card also includes travel insurance, shopping coverage (e.g. purchase protection) and exclusive American Express Invites®. Overall, the $99 annual fee is a drop in the bucket when you consider the cash-back earning potential and included perks.

The Details:

  • Annual Fee: $99
  • Minimum Income Eligibility: N/A
  • Credit Score Required: Good to Excellent
  • Welcome Offer: 10% cash back on purchases for the first 4 months (up to $400 in cash back)
  • Additional Perks: Travel insurance, shopping coverage, exclusive entertainment access
  • Purchase APR: 19.99% | Cash Advance APR21.99%

Learn more about the SimplyCash Preferred™ Card from American Express.


The BMO CashBack® World Elite®* Mastercard®*

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The BMO CashBack® World Elite®* Mastercard®* has a fantastic promo right now: new cardholders get up to 10% cash back in your first 3 months (up to $2,000 in total purchases) and the $120 annual fee waived in the first year*. That’s up to $200 that you can put towards your next splurge or sock away in your savings account. After the promo ends, you can earn a minimum of 1% cash back on all card purchases* – with no caps or category limits.

Redemption is easy: cash back rewards can be deposited into your BMO chequing or savings account, applied as a statement credit, or deposited into your BMO InvestorLine account. The choice is yours!

The Details:

  • Annual Fee: $120 (first-year annual fee rebate)
  • Minimum Income Eligibility: $80,000 individual or $150,000 household
  • Credit Score Required: Excellent
  • Additional Benefits: Travel insurance, complimentary membership in Mastercard Airport Experiences provided by LoungeKey*, shopping protection
  • Interest on Purchases: 20.99% | Interest on Cash Advances: 22.99% (21.99% for Quebec residents)

Learn more about the BMO CashBack® World Elite®* Mastercard®*


TD Cash Back Visa Infinite* Card

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The TD Cash Back Visa Infinite* Card has a great limited-time welcome offer for new cardholders: get 6% cash back on all card purchases for the first 3 months (up to a total spend of $2,000). Plus, you get a first-year full annual fee rebate for the primary and first additional cardholder. Conditions apply, and you must apply by August 16, 2021 to take advantage of this fantastic limited-time offer.

After the promo ends, you’ll get 3% in Cash Back Dollars on eligible grocery and gas purchases and on regularly recurring bill payments set up on your account. For everything else, you get 1% cash back. Another big perk is that Cash Back Dollars can be redeemed whenever you like, simply by applying a credit to your card’s balance.

The Details:

  • Annual Fee: $120 (Annual fee rebate for first year. Must apply by August 16, 2021)
  • Minimum Income Eligibility: $60,000 personal or $100,000 household income
  • Credit Score Required: Good to Excellent
  • Welcome Offer: Earn 6% in Cash Back Dollars on all purchases for the first 3 months up to a total spend of $2,000 (Conditions apply. Must apply by August 16, 2021.)
  • Additional Benefits: Earn up to 3% cash back on eligible everyday purchases; includes travel insurance and Emergency Road Services with the Deluxe TD Auto Club Membership

Interest on Purchases: 20.99%| Interest on Cash Advances: 22.99%

This offer is not available for residents of Quebec. For Quebec residents, please click here.   

Learn more about the TD Cash Back Visa Infinite*.

BMO CashBack® Business Mastercard®*

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If you’re looking for a business credit card that offers rewards, look no further than the BMO CashBack® Business Mastercard®*. With this card, you’ll earn 1.5% cash back on eligible gas station, office supplies purchases, and on recurring cell phone/internet billings charged to the card, as well as 1.75% cash back at participating Shell locations. Everything else charged to the card earns 0.75% in cash back.

The card also comes with an excellent welcome bonus: get 10% cash back on gas, office supplies and cell phone/internet bills for 3 months*. Did we mention that it has no annual fee?

The Details:

  • Annual Fee: $0
  • Income Eligibility: N/A
  • Credit Score Required: N/A
  • Welcome Offer: Get 10% cash back on gas, office supplies, and cell phone/internet bills for 3 months*
  • Additional Benefits: Earn cash back on every dollar you spend, purchase protection and extended warranty
  • Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99%
Learn more about BMO CashBack® Business Mastercard®*.

TD® Aeroplan® Visa Infinite* Card

Apply Now

Air Canada took over Aeroplan in the summer of 2020 and the TD® Aeroplan® Visa Infinite* Card has a decent credit card promotion to get you excited. Be approved by August 16, 2021, to get an annual fee rebate for the first year and the welcome bonus of 10,000 Aeroplan points after making your first purchase. Plus, earn a bonus Buddy Pass after making $1,000 in purchases in your first 90 days from account opening AND another 10,000 Aeroplan points for a total of 20,000. The annual fee of $139 is also rebated for both the primary and additional cardholders (conditions apply), so there’s really no reason to not get this card.

The earn rate on this card is impressive too since you’ll earn 1.5 points for every $1 spent on eligible grocery, gas and AirCanada.com purchases. All other purchases will get you 1 point per $1 spent. Keep in mind that you can earn double the points at participating Aeroplan merchants. Just show your loyalty card or app first and then pay for your purchases with your TD® Aeroplan® Visa Infinite* Card.

The Details:

  • Annual Fee: $139 (first year annual fee rebate if you apply by August 16, 2021)
  • Minimum Income Eligibility: $60,000 personal or $100,000 household
  • Credit Score Required: Good to Excellent
  • Welcome Offer: Get a welcome bonus of 10,000 Aeroplan points when you are approved by August 16, 2021 and another 10,000 Aeroplan points when you spend $1,000 in the first 90 days.
  • Additional Perks: Travel insurance, $100 Nexus fee rebate, priority boarding/check-in and free first checked bag on Air Canada flights, Auto Rental Collision/Loss Damage Insurance.
  • Other Card Info: Purchase APR: 19.99%| Cash Advance APR: 22.99%
Learn more about the TD® Aeroplan® Visa Infinite* Card.

*This offer is not available for residents of Quebec. For Quebec residents, please click here.


BMO AIR MILES®† World Elite®* Mastercard®

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AIR MILES is one of the most popular loyalty programs in Canada and if you sign up for the BMO AIR MILES®† World Elite®* Mastercard®, you’ll get 2,000 AIR MILES as a welcome bonus when you charge $3,000 to your card in the first three months of card membership. In addition, the annual fee of $120 is waived for the first year.

AIR MILES is one of the most popular loyalty programs in Canada and is unique since you get to decide if you want to earn cash or Dream Miles. With Dream Miles, you can redeem your miles for rewards like flights, hotels, car rentals, and so forth. On the other hand, Cash Miles can be redeemed at merchants for instant cash off your purchases. You get to decide what ratio you earn your Cash or Dream miles (e.g. 50/50, 80/20, 100/0) and you have the flexibility to change that ratio when you want.

The Details:

  • Annual Fee: $120 (free-waived for the first year)
  • Minimum Income Eligibility: $80,000 individual or $150,000 household annual income
  • Credit Score Required: Good to Excellent
  • Welcome Offer: 2,000 AIR MILES
  • Other Perks: 15% off AIR MILES flights within North America booked with AIR MILES, comprehensive travel insurance, Mastercard Airport Experiences provided by LoungeKey
  • Other Card Info: Purchase APR: 20.99% | Cash Advance APR: 22.99% (21.99% for Quebec residents)
Learn more about the BMO AIR MILES®† World Elite®* Mastercard®

The American Express® Aeroplan®* Card

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The new American Express® Aeroplan®* Card comes with a very attractive welcome offer. New cardholders can get up to 15,000 Aeroplan points and a bonus Buddy Pass that can be used for a companion ticket within North America. Up to 9,000 points and that Buddy Pass are awarded after spending $1,500 in your first three months and then up to 6,000 more points are awarded for every month in the first six months that you spend $500/month.

One-way short-haul flights within North America start at 6,000-10,000 points, so depending on where you fly, you (and your buddy!) may be able to get a free trip within your first year.

On an ongoing basis, you’ll earn points at an accelerated rate of 2X the points on Air Canada® and Air Canada Vacations®, 1.5X the points on eligible dining and food delivery card purchases, and 1X the points on everything else. Earn double the points in the Aeroplan eStore and when you shop with Aeroplan partners. When you pair the points-earning potential with the welcome offer, it’s easy to see how you can quickly rack up points for travel rewards.

  The Details:

  • Annual Fee: $120
  • Minimum Income Eligibility Requirement: N/A
  • Credit Score Required: Good to Excellent
  • Welcome Offer: Up to 15,000 points plus a bonus Buddy Pass (for an eligible round-trip flight in North America).
  • Additional Benefits: Comprehensive insurance, Air Canada travel benefits, access to exclusive American Express benefits
  • Interest on Purchases: 30%| Interest on Cash Advances: 30%

Learn more about the American Express® Aeroplan®* Card


The American Express® Aeroplan®* Reserve Card

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Like the American Express® Aeroplan®* Card, the American Express® Aeroplan®* Reserve Card gives you a very warm welcome. But this card comes with much a bigger price tag at $599 per year. While it may seem daunting at first, frequent travellers can use the points-earning potential and welcome offer to more than cover that fee.

For starters, new cardholders are treated to a welcome package of up to 65,000 points and a $100 statement credit. You earn the first 35,000 points and the credit by spending $3,000 on your card within the first three months. The other 30,000 points are awarded at a rate of 5,000 for each month that you spend $1000 on your card in the first six months.

As with many travel cards, travel purchases get you the most points. With this card, you get 3X the points per $1 spent on Air Canada and Air Canada Vacations purchases. Then there’s 2X the points per $1 on eligible dining out and food delivery card purchases, and 1 point per $1 spent on everything else. So, if in a year you spend $8,000 on a flight and hotel package, $2,000 on dining, and 10,000 on everything else, that’s already 38,000 points! Add that to your welcome bonus of up to 65,000, and you have 103,000 points—enough for an economy seat from Calgary to Paris and back!

Beyond points, the card brings with it some incredible perks. You get access to Air Canada Maple Leaf LoungesTM, Air Canada Priority Airport Services, and special perks at Pearson International Airport, plus comprehensive travel insurance, and much more.

The Details:

  • Annual Fee: $599
  • Minimum Income Eligibility Requirement: N/A
  • Credit Score Required: N/A
  • Welcome Offer: Earn up to 65,000 Aeroplan points and a $100 Statement Credit
  • Additional Benefits: Comprehensive insurance, access to select Air Canada lounges and Priority Airport services, Annual Worldwide Companion Pass, access to exclusive American Express benefits
  • Interest on Purchases: 19.99%| Interest on Cash Advances: 21.99%

Learn more about the American Express® Aeroplan®* Reserve Card


CIBC Dividend Platinum® Visa* Card

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If you’re looking for a generous cash back earn rate and tempting welcome offer, then check out the CIBC Dividend Platinum® Visa* Card. Gas and grocery purchases get you 3% cash back on eligible gas and grocery purchases†, 2% cash back on eligible transportation, dining purchases and recurring payments†, and 1% cash back on all other purchases† The welcome offer includes a rebate of the $99 annual fee† (which is lower than other cards with the same cash back earn rate), and you’ll Get 10% cash back (up to $200)*

As for the extras, there’s $500,000 of common carrier accident coverage, auto rental damage and collision loss insurance, and you can opt to add travel medical coverage too. And finally, the purchase security and extended protection insurance has got your back in case anything goes wrong with your new purchases.

The Details:

  • Annual Fee: $99 (first-year annual fee rebate)†
  • Annual Interest on Purchases: 19.99%
  • Annual Interest on Balance Transfers: 22.99%
  • Annual Interest on Cash Advances: 22.99%† (21.99% QC only)
  • Minimum Income Eligibility: $15,000 (household)
  • Credit Score Required: Good 
  • Welcome Offer: Get 10% cash back (up to $200)* Plus, a first-year annual fee rebate!†
  • Additional Perks: $500,000 in common carrier accident protection and auto rental collision and loss damage insurance; purchase security and extended protection insurance

†Conditions Apply

Quebec Residents – Learn More about this CIBC product here

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce lien

Learn more about the CIBC Dividend Platinum® Visa* Card.


CIBC Select Visa* Card 

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Sometimes life happens and you need to carry a credit card balance from month to month. If that’s your situation, then consider a credit card that has the potential to save you hundreds of dollars on interest every year. The CIBC Select Visa* Card has an interest rate of just 13.99% on purchases†, whereas most credit cards will charge you 19.99%, or more! Plus, if you transfer an existing credit card balance, you can get 0% interest for up to 10 months with a 1% transfer fee† and a first-year annual fee rebate†  Plus the income eligibility threshold is low, making this card an attractive option for anyone who needs to carry a balance now and then. 

The Details:

  • Annual Fee: $29 (first-year annual fee rebate)†
  • Annual Interest on Purchases: 13.99%
  • Annual Interest on Balance Transfers: 13.99%
  • Annual Interest on Cash Advances: 13.99%
  • Income Eligibility: $15,000 household
  • Credit Score Required: Good
  • Welcome Offer: Transfer your credit card balance – Get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate†
  • Additional Benefits: Low-interest rate on purchases and cash advances; common carrier accident insurance coverage; three free additional cardholders

†Conditions Apply

Quebec Residents – Learn More about this CIBC product here

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce lien

Learn more about the CIBC Select Visa* Card.

What Are Credit Card Promotions and How Do They Work?

Credit card promotions typically refer to two things: the welcome bonus and the annual fee. The welcome bonus is usually extra points or additional cash back. In both cases, you still need to meet certain conditions to get the entire bonus (e.g. a minimum spend amount within a certain time period).

Every bonus is different and since every rewards program varies, you sometimes need to read the fine print in order to find out how you can maximize your welcome bonus. If the annual fee has a promotion, it’ll just be waived or rebated for the first year. A general rule to remember: any credit card promotion where the annual fee is rebated and offers a welcome bonus worth at least $250 is a good deal.

Different Types of Sign-Up Bonuses

Unlike banks that can give you actual cash or merchandise as a sign-up bonus, credit cards can really just offer additional points or cash back multipliers. This isn’t a bad thing, but you just need to recognize what’s actually a good deal. For example, if the promotion is offering 5,000 to 10,000 extra points, then that’s totally worth signing up for.

Some promotions even go above and beyond by waiving the annual fee for the first year. This essentially allows you to collect the sign-up bonus and try out the card for the first year for free.

Credit Card Bonus Conditions

Although credit card promotions are appealing, there are always conditions. With points promotions, you’ll need to spend a certain amount within three months to get the full bonus. That could range from $500 to $7,000. If you were already planning to spend that money then it’s no big deal, but if you need to carry a balance just to get the welcome bonus, it’s not worth it since you could end up paying a lot in interest charges.

With cash back promotions, you’ll earn a higher earn rate, but there’s usually a cap. Let’s say you can earn 10% cash back for three months and it tops out at $200 in cash back. That means you would need to charge $2,000 to your card to get the full bonus. Again, that’s only good if you were planning to spend that money.

Is It Worth It?

Yes, credit card promotions are always worth it, but this assumes that you meet the conditions to get your bonus. Some of these deals are so good that it’s worth signing up, even if you weren’t looking for a new card. If you see a credit card promotion that gives you at least $250 in value, it may be worth applying for.

The Best Credit Cards by Category:

This post was not sponsored. The views and opinions expressed in this review are purely my own.

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