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 2020.
Best Credit Card Promotions in Canada
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
The Tangerine Money-Back Credit Card is a no-frills card that offers one of the best cash back rewards rates in Canada.
The promo offers a $250 cash bonus when you spend up to $5,000 combined in your first 3 months while 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 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 here.
Apply for the Tangerine Money-Back Credit Card.
2. Scotia Momentum Visa Infinite Card
- Promotion: 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 April 30, 2020
The Scotia Momentum Visa infinite card is rated as one of the best cash back cards in Canada.
It starts off with a promotional 10% cash back on all purchases for 3 months on up to $2,000 in purchases. This is a $200 bonus right off the bat.
After the promotion ends, you enjoy:
- 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.
Apply for the Scotia Momentum Visa Infinite here.
3. TD Cash Back Visa Infinite
- Promotion: Earn 6% 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 May 31, 2020
The TD Cash Back Visa Infinite offers new cardholders a worthwhile promotional cash back offer.
It starts off with a 6% 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.
Apply for the TD Cash back Visa Infinite here.
4. BMO CashBack Mastercard
- Promotion: 5% cash back in your first 3 months ($100 value)
- Income eligibility: $15,000
- Annual fee: $0
- Offer validity: Apply by October 31, 2020
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 $2,000 in purchases. This is equivalent to a $100 welcome bonus.
After the promotional period ends, you earn a 1% cash back on all 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.
Apply for the BMO CashBack Mastercard here.
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.
5. Scotiabank Gold American Express Card
- Promotion: Earn 20,000 bonus points ($200 value)
- Income eligibility: $12,000
- Annual fee: $120
- Offer validity: Apply by July 1, 2020
The Scotiabank Gold American Express card is one of the best travel credit cards in Canada.
The promotional offer of 20,000 points is earned after you have spent at least $1,000 in your first 3 months. This welcome bonus is a $200 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
- 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.
Apply for the Scotiabank Gold American Express here.
6. Scotiabank Passport Visa Infinite Card
- Promotion: Earn up to 40,000 bonus points ($400 value)
- Income eligibility: $60,000 minimum personal income
- Annual fee: $139
- Offer validity: Apply by July 1, 2020
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 30,000 points welcome offer when you spend $1,000 or more in the first 3 months ($300 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)
- 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.
Apply for the Scotiabank Passport Visa Infinite.
7. TD First Class Travel Visa Infinite Card
- Promotion: Earn up to 65,000 points
- Income eligibility: $60,000 minimum personal income
- Annual fee: $120
- Offer validity: Apply by May 31, 2020
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.
In addition, you earn an additional 15,000 points every month you spend $1,000 for the first 3 months…for a total of 65,000 points.
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.
Apply for the TD First Class Travel Visa infinite.
Best Credit Card Welcome Bonuses in Canada
These credit cards offer some of the best welcome bonus points you can convert into rewards.
8. American Express Cobalt
- Promotion: Earn up to 30,000 points (value of $400)
- Income eligibility: N/A
- Annual fee: $120 (paid at $10 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
- 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.
Apply for the American Express Cobalt Card here.
9. BMO World Elite Mastercard
- Promotion: Get 35,000 points ($250 value)
- Income eligibility: $80,000 minimum personal income
- Annual fee: $150; waived in year one
- Offer validity: Apply by May 31, 2020
This premium credit card offers a welcome bonus of 35,000 points when you spend $3,000 within your first 3 months.
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.
Apply for the BMO World Elite Mastercard.
10. Scotiabank SCENE Visa
- Promotion: Get 2,500 bonus SCENE points when you spend $500 in the first 3 months
- Income eligibility: $12,000
- Annual fee: $0
- Offer validity: July 1, 2020
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 2,500 bonus SCENE points (equivalent to two 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.
Apply for the Scotiabank SCENE Visa Card.
Conclusion
This 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 Low Rate Credit Cards in Canada
- The Top Balance Transfer Credit Cards
- Overall Best Credit Cards in Canada
- How To Get Your Free Credit Score
