Best Credit Card Offers and Promotions for November 2019

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credit card promotions canadaIf 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
TD® Aeroplan® Visa Infinite*Up to 40,000 Aeroplan miles ($500+ value)$120 - 1st year freeLearn More
BMO® AIR MILES®† World Elite®* Mastercard®3000 AIR MILES$120 - 1st year freeLearn More
Tangerine Money-Back Credit Card4% cash-back on up to 3 categories for 3 months$0Learn More
TD First Class Travel® Visa Infinite* CardUp to 90,000 TD Points($450 value)$120 - 1st year freeLearn More

TD® Aeroplan® Visa Infinite* Card

td aeroplan visa

Credit score required: Good to excellent
Income Eligibility: $60,000 personal or $100,000 household annual income
Annual Fee: $120 (first-year annual fee rebate)
*This offer is not available for residents of Quebec. For Quebec residents, please click here.

Air Canada is set to take over Aeroplan in the summer of 2020 and the TD® Aeroplan® Visa Infinite* Card has an incredible credit card promotion to get you excited. New applicants can earn up to 40,000 Aeroplan Miles when they apply. Here’s how it works: you get a welcome bonus of 15,000 Aeroplan Miles when you make your first purchase with your card, and then earn 2X Aeroplan Miles on eligible purchases in the first three months up to a total of 20,000 Miles. If you add another authorized user to your account by December 1, 2019, you'll score an additional 5,000 Aeroplan Miles. The annual fee of $120 is also waived, so there’s really no reason to not get this card.

It's the equivalent to 2 premium economy short-haul roundtrip flight rewards, so those miles could easily have a value of $500+. The earn rate on this card is impressive too since you’ll earn 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and AirCanada.com purchases. All other purchases will get you 1 mile 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*.

Other card details: Purchase APR: 19.99% | Cash Advance APR: 22.99%

Learn more about the TD® Aeroplan® Visa Infinite.*


BMO® AIR MILES®† World Elite®* Mastercard®

bmo world elite mastercardCredit score required: Excellent
Income Eligibility: $80,000 personal or $150,000 household annual income
Annual Fee: $120 (FREE – waived for the first year)

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 up to 3,000 AIR MILES as a welcome bonus. 1,000 miles are awarded after your first purchase and you’ll get an additional 2,000 miles 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.

Learn more about the BMO® AIR MILES®† World Elite®* Mastercard®.


Tangerine Money-Back Credit Card

tangerine credit cardCredit score required: Fair to Good
Minimum personal income required: $12,000
Annual Fee: $0

Do you prefer a cash back card over travel rewards? If yes, then the Tangerine Money-Back Credit Card is a good choice since it has no annual fee and a unique way for you to earn cash back. With the current limited time promotion, new customers can earn 4% cash back in up to three categories. You get to choose two categories right away and a third one if you set your cash back to deposit straight into your Tangerine account. Apply now, because this crazy-good offer ends on January 31, 2020!

This credit card promotion lasts three months, but once that time is up, you’ll earn 2% cash back on your selected categories. All other purchases earn you 0.5% cash back during and after the promotion. The nice thing about the Tangerine Money-Back Credit Card is that your cashback is paid monthly, whereas many other cash back cards only payout annually.

Learn more about the Tangerine Money-Back Credit Card.


TD First Class Travel® Visa Infinite* Card

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

td visa infinite first classCredit score required: Good to Excellent
Income Eligibility: $60,000 personal or $100,000 household annual income
Annual Fee: $120 (first year annual fee rebate)

Right now, the TD First Class Travel® Visa Infinite* Card has one of the best straight-up credit offers: you’ll get 20,000 TD Points after your first purchase and earn 2X TD Points on all purchases in the first 3 months up to a total of 60,000 TD Points. You'll get an additional 10,000 TD Points if you add an authorized user to your account by December 1, 2019. That brings the total to 90,000 TD Points, which are worth $450 in travel rewards, plus you get the annual fee of $120 waived for the first year, so you’re getting over $500 in value with this card.

The regular earn rate is 9 TD points per $1 spent on travel booked online through Expedia for TD, and 6 TD Points per $1 spent on travel booked via phone on Expedia for TD. Earn 3 TD Points per $1 spent on everything else. Expedia for TD is no different than the regular Expedia website, which means you’ll have no problem booking flights, hotels, car rentals, and more. In addition, you get a comprehensive travel insurance package included that covers you for up to 21 days per trip.

Other card details: Purchase APR: 19.99% | Cash Advance APR: 22.99%

Learn more about the TD First Class Travel® Visa Infinite* 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 waived 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:

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Lisa Jackson

Lisa Jackson is a freelance journalist, editor, and blogger who contributes to various online and print media outlets in Canada and abroad, including The Globe & Mail, Al Jazeera News, The Independent UK, CAA Magazine, The Toronto Star, West Jet Magazine, Huffington Post Canada, and many others. When she's not writing from her home office, she's busy chasing after an energetic toddler.

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