Best Credit Card Promotions and Sign-Up Bonuses Canada 2022

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by Enoch Omololu

Updated

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If you are in the market for a new credit card, do yourself a favour and take advantage of the best credit card sign-up bonuses, offers, and promotions available in Canada.

Credit card usage can be expensive if you carry a balance month to month. on the other hand, the right credit card can be very rewarding and offer a suite of perks, annual fee waivers, and a host of other benefits.

Read on to learn about the best credit card promotions currently available in Canada in 2022.

Best Credit Card Promotions in Canada Jul 2022

Credit CardPromotionAnnual FeeApply
Tangerine Money-Back Credit Card10% extra cash back ($100 value); 1.95% balance transfer; Regular rate up to 2% in 3 categories$0Apply
SimplyCash Card from American Express4% bonus cash back ($200 value); travel accident insurance; 1.25% unlimited cash back standard rate$0Apply
Scotia Momentum Visa Infinite10% cash back ($200 value); annual fee is waived in the first year$120Apply
American Express Cobalt30,000 points (up to $300 value)$155.88Apply
Scotiabank Gold American Express Card40,000 Scene+ points ($400 value)$120Apply
Scotiabank Passport Visa Infinite Card35,000 Scene+ points ($350 value)$139Apply
Scotiabank SCENE Visa5,000 bonus Scene+ points$0Apply

Best Cash Back Credit Card Promotions

Cash back credit cards are popular because it is easier for you to enjoy the rewards you receive (i.e. cash back). You are not limited to purchasing travel or merchandise.

They typically also offer other benefits in addition to the cash back rewards.

1. Tangerine Money-Back Credit Card

  • Income eligibility: $12,000
  • Annual fee: $0
  • Promo: 10% cash back. Offer valid until July 31, 2022

The Tangerine Money-Back Credit Card is a no-frills card that offers one of the best cash back rewards rates in Canada. You also earn an unlimited 2% cash back rate on up to three categories of spending.

Spending categories that qualify for the highest cash back rate include grocery, restaurants, recurring bill payments, entertainment, hotel-motel, drugstore, public transportation, parking, and more.

For a limited time, new cardholders also get an extra 10% cash back worth $100.

For all spending outside of your chosen 2% categories, you earn an unlimited 0.50% cash back.

This card has no annual fee and also comes with a 1.95% balance transfer rate for 6 months if you need it. Other benefits of the card are its purchase assurance and extended warranty.

Tangerine recently introduced the Tangerine World Mastercard which offers similar cash back offerings. You can read our review.

Tangerine Cash Back Credit Card
APPLY FOR THIS CARD

2. Scotia Momentum Visa Infinite Card

  • Promotion: $120 annual fee waived in year one; 10% cash back ($200 value)
  • Income eligibility: $60,000 minimum personal income
  • Annual fee: $120 (waived in the first year)
  • Offer validity: Apply by August 31, 2022

The Scotia Momentum Visa infinite card is rated as one of the best cash back cards in Canada.

This card offers:

  • 10% promo cash back in the first 3 months (valued at $200)
  • 4% cash back on groceries and recurring bill payments
  • 2% cash back on gas and daily transit
  • 1% cash back on everything else
  • New mobile device insurance
  • Comprehensive travel insurance benefits
  • Rental car collision loss/damage insurance
  • Purchase security and extended warranty

For more details, read my Scotia Momentum Visa Infinite review.

Scotia momentum visa infinite
APPLY FOR THIS CARD

3. SimplyCash Card from American Express

  • Income eligibility: N/A
  • Annual fee: $0
  • Promo: 4% cash back ($200 value)

The SimplyCash Card from American Express is one of the best no fee credit cards in Canada for earning unlimited cash back rewards.

It offers:

  • Promotional 4% cash back in the first 6 months up to $200
  • 1.25% regular unlimited cash back on all purchases
  • $100,000 travel accident insurance
  • Extended warranty for up to 1 extra year
  • Purchase protection for 90 days
  • Access to American Express Experiences

Learn more about the SimplyCash Card from AMEX in this detailed review.

SimplyCash Credit Card
APPLY FOR THIS CARD

Best Credit Card Welcome Bonus in Canada

These credit cards offer some of the best welcome bonus points you can convert into rewards. Both cards are also some of the best travel rewards credit cards.

4. Scotiabank Gold American Express Card

  • Promotion: Earn 40,000 bonus points ($400 value); 0% balance transfer for 6 months
  • Income eligibility: $12,000
  • Annual fee: $120 (waived in the first year)
  • Offer validity: Apply by October 31, 2022

The Scotiabank Gold American Express card is one of the best travel credit cards in Canada.

The promotional offer of 20,000 Scene+ points is earned after you have spent at least $1,000 in your first 3 months. You also get an additional 20,000 points after spending $7,500 in the first year. The total bonus offer has a $400 value.

You also enjoy the following premium perks:

  • 5 points per $1 spent on grocery, restaurants, fast food, bars, and food delivery
  • 3 points per $1 spent on gas, daily transit, and streaming services
  • 1 point per $1 spent on everything else
  • 0% balance transfer for the first 6 months
  • 2.5% foreign transaction fee is waived
  • Discounted Priority Pass membership
  • Comprehensive travel insurance benefits
  • Rental car collision loss/damage insurance
  • Purchase security and extended warranty

Check out the card’s complete review.

Scotia Gold American Express card
APPLY FOR THIS CARD

5. Scotiabank Passport Visa Infinite Card

  • Promotion: Earn up to 35,000 bonus points ($350 value)
  • Income eligibility: $60,000 minimum personal income
  • Annual fee: $139 (waived in the first year)
  • Offer validity: Apply by October 31, 2022

The Scotiabank Passport Visa infinite card holds a top position on our list of the best travel rewards cards in Canada.

It starts off with a 25,000 Scene+ points welcome offer when you spend $1,000 or more in the first 3 months ($250 value). Following this, you get an additional 10,000 points when you make $40,000 in purchases on your card annually (an extra $100 value).

This premium card also offers:

  • 2 points per $1 spent on grocery, dining, entertainment, and daily transit purchases (on up to $50,000 in purchases)
  • 5 points per $1 spent on travel purchases
  • Earn 1 point per $1 spent on everything else
  • No foreign currency transaction fee (a saving of 2.5%)
  • Complimentary airport lounge access with 6 free visits per year (worth $397)
  • Comprehensive travel insurance
  • Rental car insurance
  • Purchase security and extended warranty
  • Price protection

Read more about this card here.

Scotiabank Passport Visa Infinite Card
APPLY FOR THIS CARD

Best Travel Credit Card Promotions in Canada

If you are looking for a credit card that racks up travel rewards and you want to jumpstart your quest with promotional points, these travel rewards cards deliver.

6. American Express Cobalt

  • Promotion: Earn up to 30,000 points (value of up to $300)
  • Income eligibility: N/A
  • Annual fee: $155.88 (paid at $12.99 per month)
  • Offer validity: N/A

New cardholders of the American Express Cobalt card can earn up to 30,000 rewards points in one year. You get 2,500 points for each month you spend $500 or more for a total of 30,000 points in 12 months.

You also enjoy:

  • 5 points per $1 spent on grocery, restaurants, bars, cafes and food delivery services
  • 3 points per $1 spent on streaming subscriptions
  • 2 points per $1 spent on gas, transit, and travel
  • 1 point per $1 spent on everything else
  • Comprehensive travel insurance
  • Purchase assurance
  • Car rental theft and damage insurance
  • Access to American Express Invites

You can easily redeem your points for travel, food, gift cards, merchandise, Amazon purchases and more. Read my complete American Express Cobalt review for more information.

amex cobalt new card
APPLY FOR THIS CARD

7. TD First Class Travel Visa Infinite Card

  • Promotion: Earn up to 100,000 points ($500 value)
  • Income eligibility: $60,000 minimum personal income
  • Annual fee: $120
  • Offer validity: Apply by October 29, 2022

The TD First Class Travel Visa Infinite offers a welcome bonus of 20,000 TD Points when you make your first purchase with the card. You get an additional 80,000 points when you spend $1,500 within 90 days of opening your account.

You also enjoy:

  • 9 points per $1 spent on booking travel through Expedia For TD
  • 3 points per $1 spent on everything else
  • Comprehensive travel insurance
  • Discounted Priority Pass membership
  • Auto rental insurance
  • Purchase security and extended warranty

When you combine the promotional offer with the first-year fee waiver, this card is definitely worth checking out.

TD First Class Travel Visa Infinite

Noteworthy Credit Card Promotions

8. Scotiabank SCENE Visa

  • Promotion: Get 5,000 bonus SCENE points when you spend $750 in the first 3 months
  • Income eligibility: $12,000
  • Annual fee: $0
  • Offer validity: August 31, 2022 

The Scotiabank SCENE Visa card is a great starter credit card for students, newcomers to Canada, and anyone who is looking at simply building their credit profile.

It offers a starting 5,000 bonus SCENE points (equivalent to four free general admission or 3D movie tickets) and you earn:

  • 1 SCENE point per $1 spent on everyday purchases
  • 5 SCENE points per $1 spent on purchases at Cineplex

Read about how to watch free movies and this SCENE card review.

SCENE Visa Card
APPLY FOR THIS CARD

9. TD Cash Back Visa Infinite

  • Promotion: Earn 10% cash back for 3 months ($200 value)
  • Income eligibility: $60,000 minimum personal income
  • Annual fee: $120; waived in the first year
  • Offer validity: Apply by September 5, 2022

The TD Cash Back Visa Infinite starts off with a 10% cash back reward rate in your first 3 months on a total spend of $2,000 ($200 savings).

After the promotion ends, you continue to enjoy:

  • 3% cash back on grocery, gas and recurring bill payments (capped at a maximum of $15,000 in spending per year)
  • 1% cash back on all other purchases
  • Roadside assistance
  • Travel medical insurance
  • Auto rental collision loss/damage insurance

The $120 annual fee is waived in the first year.

TD Cash Back Visa Infinite

10. BMO CashBack Mastercard

  • Promotion: 5% cash back in your first 3 months ($125 value)
  • Income eligibility: $15,000
  • Annual fee: $0
  • Offer validity: Apply by December 6, 2022

The BMO Cash Back Mastercard is a no-fee cash back card offering 5% cash back on all purchases in your first 3 months…on up to $2,500 in purchases. This is equivalent to a $125 welcome bonus.

After the promotional period ends, you earn 0.50% to 3% cash back depending on your purchases.

This card also offers a 1.99% balance transfer rate for 9 months (a 1% balance transfer fee applies).

Lastly, you enjoy the free purchase protection and extended warranty. Read my BMO Cash Back Mastercard review.

BMO Cashback Mastercard

11. BMO World Elite Mastercard

  • Promotion: Get up to 30,000 points ($150 value)
  • Income eligibility: $80,000 minimum personal income
  • Annual fee: $150; waived in year one
  • Offer validity: Apply by December 6, 2022

This premium credit card offers a welcome bonus of 25,000 points when you spend $3,000 within your first 3 months, plus an extra 5,000 points on your first anniversary.

The $150 annual fee is waived in the first year and you enjoy:

  • 3 BMO Rewards points per $1 spent on travel, dining, and entertainment (on up to $50,000 annually)
  • 2 points per $1 spent on everything else
  • Complimentary membership in Mastercard Airport Experiences provided by Loungekey including four annual complimentary passes
  • Comprehensive travel insurance
  • Purchase protection and extended warranty

Read my BMO World Elite Mastercard review for more information about this card.

BMO World Elite Mastercard

Conclusion

These credit card promotions and sign-up bonuses are worth taking a look at if you are planning on getting a new credit card.

Related posts

Best Credit Card Promotions and Sign-Up Bonuses Canada 2022

Best Credit Offers in July 2022

Earn up to 10% cash back for a limited time ($100 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 10% bonus cash back in first 2 months ($100 value).

1.95% balance transfer offer for 6 months.

Get up to 10% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

1 thought on “Best Credit Card Promotions and Sign-Up Bonuses Canada 2022”

  1. also neo credit card $50 bonus

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  • 10% cashback on $1,000 spent in first 2 months ($100 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 10% cashback on up to $1,000 spent in first 2 months ($100 value).* No annual fees!
*Limited time offer. Terms and conditions apply.
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