14 Best Credit Card Promotions In Canada (Dec 2022)

October 31, 2022
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There are quite a few good credit card promotions out there, but some stand out above the rest for their impressive welcome bonuses, promotional cash back rates, and excellent rewards. I constantly keep up with the latest promo rates and policy changes and make my recommendations below based on years of experience.

I recommend the American Express Cobalt Card as the #1 credit card promotion in Canada due to its 30,000 points welcome bonus, low monthly fees, and access to exclusive American Express Experiences. You can transfer your points to other loyalty programs, and it comes with comprehensive insurance.

What Are Credit Card Promotions?

Credit card promotions are welcome (or sign-up) bonuses that credit card issuers use to entice users to apply for their credit cards. Credit card promotions can be very generous, and it's common to earn $100 or more worth of benefits. However, it's important to note that these offers are usually short-lived – promotional rates usually have an expiration date, a built-in limit (a maximum you can earn), or a time limit. It's very common for cash back credit cards to offer a very high cash back rate for the first 3-6 months, but it's not the only type of card that offers welcome bonuses; travel and low-interest credit cards offer bonus points and introductory rates respectively.

It's important to not be blinded by credit card promotions – eventually, they end, and you can end up with a credit card that that doesn't fit your long-term goals. It's important to check the rates after the period ends before picking one of these.

Without further ado, here are the best credit card promotions Canada has to offer:

The Best Credit Card Promotions In Canada

  1. American Express Cobalt Card: Best for generous welcome bonus and high earn rate on Eats & Drinks
  2. TD Aeroplan Visa Infinite Card: Best for earning Aeroplan points
  3. BMO Ascend World Elite Mastercard: Best for no annual fee for the first year
  4. BMO CashBack World Elite Mastercard: Best for promotional cash back for the first 3 months
  5. MBNA True Line Mastercard credit card: Best for no annual fee
  6. American Express Aeroplan Reserve Card: Best for comprehensive travel and medical insurance
  7. Scotiabank Gold American Express Card: Best for no foreign transaction fees
  8. Scotia Momentum Visa Infinite Card: Best for access to Visa Infinite Hotel Collection plus Visa Infinite Dining & Wine
  9. American Express Platinum Card: Best for access to American Express Experiences
  10. American Express Gold Rewards Card: Best for complimentary Priority Pass membership
  11. RBC Avion Visa Infinite: Best for booking flights with no blackout periods
  12. Tangerine World Mastercard: Best for customizable cash back categories
  13. Marriott Bonvoy American Express Card: Best for booking hotel stays with no blackout periods
  14. BMO CashBack MasterCard: Best for no annual fee cash back

American Express Cobalt Card

Great for exchanging MR points with other rewards program and high MR earn rate
  • Annual Fee
    $156
  • Interest Rate
    20.99% on purchases, 21.99% on cash advances
  • Welcome Bonus
    30,000 MR points
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 2,500 Membership Rewards points as a welcome bonus after you spend $6,000 within a year ($500/month)
    • $300 in statement credits towards purchases charged to your card
    • $225 credit in American Express Prepaid Cards
    • Access to American Express Experiences
    • Access to American Express Front Of The Line presales
  • Pros & Cons

    Why we like it

    Great for exchanging MR points with other rewards program and high MR earn rate

    Pros

    • 30,000 MR bonus points
    • Earn 5 points per $1 spent on eligible eats & drinks purchases
    • Transfer points 1:1 to other loyalty programs (Aeroplan, Marriot Bonvoy, and more)
    • Access to presale tickets and VIP seating in select events through American Express' Front Of The Line program
    • $100 Travel Credit and 4 complimentary visits to Plaza Premium Lounges
    • Comprehensive travel and medical insurance
    • Relatively low annual fee ($156)

    Cons

    • Needs a fairly good credit score (660+)
  • More Details

    Bonuses and fees

    The American Express Cobalt Card is a premium credit card with an annual fee of $156. This card is unique because its Membership Reward points can be exchanged 1:1 with some of the best rewards programs, including the Aeroplan and the Marriot Bonvoy program.

    Rewards

    You can earn MR points at a rate of:

    • 5 MR points per $1 spent on eats & drinks
    • 3 MR points per $1 spent on streaming subscriptions
    • 2 MR points per $1 spent on travel & transit
    • 1 MR point per $1 spent on everything else

    Redeeming your points

    The American Express Cobalt Card offers plenty of options to exchange your points. You can spend them directly on categories like streaming subscriptions, various eats & drinks, movie tickets, or statements of credit.

    Additionally, you can Exchange your MR points for Aeroplan, Avianca LifeMiles, Hilton Honors, Choice Privileges, or Marriott Bonvoy points.

    Insurance

    This card offers very complete coverage, including categories like:

    • Emergency Medical Insurance
    • Flight Delay Insurance
    • Lost or Stolen Baggage Insurance
    • Mobile Device Coverage
    • $250,000 Travel Accident Insurance

TD Aeroplan Visa Infinite Card

Great for earning Aeroplan points, a generous welcome bonus, and exclusive travel perks
  • Annual Fee
    $139
  • Interest Rate
    19.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    50,000 pts
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 10,000 Aeroplan points as a welcome bonus when you make your first purchase
    • Earn 20,000 bonus Aeroplan points after you spend $1,500 within 90 days
    • Earn 20,000 Aeroplan points as a welcome bonus when you spend $7,500 within 12 months
    • No annual fee for the first year
    • Emergency Road Services plus complimentary TD Auto Club membership
    • Access to Visa Infinite Concierge service
  • Pros & Cons

    Why we like it

    Great for earning Aeroplan points, a generous welcome bonus, and exclusive travel perks

    Pros

    • 50,000 bonus welcome points
    • Earn 1.5 Aeroplan points per $1 spent
    • Earn double the points when you pay with your card at over 320 partner brands
    • Your Aeroplan points won't expire as long as your card is in good standing
    • Comprehensive travel and medical insurance
    • Complimentary Concierge service

    Cons

    • Needs a good credit score (660+)
    • Requires a minimum yearly income of $60,000
  • More Details

    Bonuses and fees

    The annual fee is $139, somewhat high compared to other credit cards, but it makes up for it with very good perks and benefits and a completely free first year. It also comes with 50,000 Aeroplan points, and you get an additional 20,000 points when you spend $1,500 within 90 days of opening your account and when you spend $7,500 within 12 months of opening your account.

    Earning points

    With the TD Aeroplan Visa Infinite Card, you can earn points on everyday spending. For all purchases made from Air Canada, you’ll earn 1.5 Aeroplan points; the same rate applies when you purchase groceries and pay for gas. Earn 1 point on all other purchases.

    Perks and Benefits

    • Link your TD Aeroplan account with your Starbucks Rewards Account and earn 50% more Aeroplan points and 50% more Stars at Starbucks stores
    • Twice the points when you pay using the TD Aeroplan Visa Infinite Card at over 300 partner brands
    • Another benefit is that you can set up payments over $100 and pay them over 18 months at a 0% annual interest rate.
    • Enroll for NEXUS and get a $100 rebate every 48 months
    • Free Uber Pass membership for 6 months

BMO Ascend World Elite Mastercard

Great for travel perks and bonus points on all travel-related purchases
  • Annual Fee
    $150 (1st year free)
  • Interest Rate
    20.99% on purchases, 23.99% on cash advances
  • Welcome Bonus
    70,000 pts
  • Rec. Credit Score
    760+
  • Features & Benefits

    • Earn 70,000 points as a welcome bonus on your first year
    • Annual fee waived for the first year
    • Mastercard Travel Pass membership
    • Cover all flight charges and taxes using your points
    • Access to BMO Concierge services and Mastercard Travel Rewards when travelling abroad
  • Pros & Cons

    Why we like it

    Great for travel perks and bonus points on all travel-related purchases

    Pros

    • 70,000 bonus welcome points
    • Earn 5 BMO Rewards points per $1 spent on eligible travel purchases
    • Complimentary Mastercard Travel Pass membership (4 free passes/year) & BMO Concierge services
    • Earn 3 BMO Rewards points per $1 spent on dining, entertainment, and recurring bills
    • Annual fee is completely waived for the first year
    • Comprehensive travel and medical insurance for up to $2 million

    Cons

    • Requires a minimum yearly income of $80,000
    • Needs an excellent credit score (760+)
  • More Details

    Bonuses and fees 

    The BMO Ascend World Elite Mastercard is a premium travel card with an annual fee of $150 (waived for the first year for new cardholders). To apply for this card, you need an excellent credit score of at least 760, plus an annual income of $80,000 or more. It comes with a free Mastercard Travel Pass membership, medical coverage, and more.

    Rewards

    With this card, you can earn points on all purchases, but some categories offer better rates:

    • 5 points per $1 spent on travel-related purchases
    • 3 points per $1 spent on entertainment, dining, and subscriptions & recurrent purchases
    • 1 point per $1 spent everywhere else

    You can redeem your BMO Ascend World Elite Mastercard points for:

    • Flights, hotels, vacation packages, and transportation
    • Contributions to your BMO Savings or Investment account
    • Directly use your points to pay for eligible purchases

    Perks and benefits

    • Complimentary Concierge services
    • 25% off at partner rentals National Car Rental and Alamo Rent A Car locations
    • Complimentary access to the Boingo Wi-Fi network worldwide
    • Zero liability policy

    Insurance 

    The BMO Ascend World Elite Mastercard lives up to its name and offers comprehensive travel and medical insurance, including:

    • Baggage delay and loss insurance
    • Flight delay insurance
    • Car rental insurance
    • Travel accident insurance
    • Medical emergency insurance
    • Roadside Assistance program

BMO CashBack World Elite Mastercard

Great for high promotional earn rate for the first three months and high cash back on groceries
  • Annual Fee
    $120 (1st year free)
  • Interest Rate
    20.99% on purchases, 23.99% on cash advances
  • Welcome Bonus
    $200
  • Rec. Credit Score
    760+
  • Features & Benefits

    • Earn $200 in cash back after spending $2,000 in your first 3 months
    • Complimentary Mastercard Airport Experiences membership
    • Complimentary Roadside Assistance Program
    • Mastercard Travel Rewards membership and access to cash back offers when travelling abroad
  • Pros & Cons

    Why we like it

    Great for high promotional earn rate for the first three months and high cash back on groceries

    Pros

    • Earn 10% cash back on all purchases for the first 3 months
    • 5% cash back on groceries
    • First year's fee is completely waived
    • Comprehensive travel and medical insurance
    • Access to a comlimentary road assistance program
    • Purchase ProtectionPlus insurance for stolen or damaged items

    Cons

    • Requires a minimum yearly income of $80,000
    • Relatively high annual fee
  • More Details

    Bonuses and fees

    The annual fee for the BMO CashBack World Elite Mastercard is $120 (waived for the first year). It comes with one of the best promotional cash back rates of 10% for the first three months, and you can redeem your cash back for as little as $1 at any time. You can also set up automatic deposits and get your cash back sent to your BMO chequing or savings account, your InverstorLine account, or use it directly as credit in your monthly statement.

    Perks and Benefits

    The BMO CashBack World Elite Mastercard offers many ways to earn cash back. For the first three months, you will get 10% cash back on all categories. After the promotional period, you will still earn a substantial amount of cash back on eligible categories: groceries (5% cash back), transit (4% cash back, including taxis and public transportation), gas and EV charging (3% cash back), recurring payments and subscriptions (2% cash back), and 1% on all other purchases.

    Additional benefits include a Mastercard Airport Experiences complimentary membership and access to exclusive Mastercard Travel Reward offers when travelling and shopping outside Canada.

    Insurance

    The BMO CashBack World Elite Mastercard lives up to its name and offers comprehensive travel and medical insurance, including:

    • Baggage delay and loss insurance
    • Flight delay insurance
    • Car rental insurance
    • Travel accident insurance
    • Medical emergency insurance
    • Roadside Assistance program

MBNA True Line Mastercard credit card

Great for no interest on balance transfers for the first year and no annual fee
  • Annual Fee
    $0
  • Interest Rate
    12.99% on purchases, 24.99% on cash advances
  • Welcome Bonus
    N/A
  • Rec. Credit Score
    660+
  • Features & Benefits

    • 0% introductory interest rate for the first 12 months
    • Around-the-clock fraud protection
    • Transfer your credit to your chequing account
  • Pros & Cons

    Why we like it

    Great for no interest on balance transfers for the first year and no annual fee

    Pros

    • 0% interest rate on balance transfers for the first 12 months
    • No annual fee
    • 10% off car rentals (Avis and Budget) in Canada and the US
    • Make payments on the go with Apple Pay
    • Add up to 9 authorized users at no cost
    • Industry low annual interest rates on purchases starting at 12.99%

    Cons

    • Needs a good credit score (660+)
    • High interest rates on cash advances (24.99%)
  • More Details

    Bonuses and fees

    The MBNA True Line Mastercard doesn’t charge annual fees and supports up to 9 authorized users – at no additional cost. You can also set up eligible credit card purchases over $100 and pay them back in monthly installments over the course of 6-18 months.

    To apply for this card, you just need to be a Canadian resident of age – there’s no minimum income required. However, you will need a credit score of at least 660.

    Perks and Benefits

    One of the main perks of the card is its low-interest fees. The regular annual interest rate is just 12.99%, compared to the industry standard of 19.99%, and the interest rate on balance transfers is also 12.99%.

    Using your MBNA True Line Mastercard to rent a car at participating Budget and Avis locations will get a 10% discount (applies internationally).

    Insurance

    This card comes with Mastercard Zero Liability and extended protection on all purchases, so you won’t be responsible for unauthorized purchases.

American Express® Aeroplan® Reserve Card

Great for high earn rate at eligible eats & drinks, access to lounges, and priority travel perks
  • Annual Fee
    $599
  • Interest Rate
    20.99% on purchases, 21.99% on cash advances
  • Welcome Bonus
    85,000 Aeroplan points
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 55,000 Aeroplan points as a welcome bonus after spending $6,000 within your first 6 months
    • Earn 30,000 Aeroplan bonus points if you spend at least $1,000 each month for the first 6 months (5,000 Aeroplan points per month)
    • 5% discount on partner restaurants when you spend over $15
    • Hotel Room Category Upgrade on the first and last night
    • Worldwide Companion Pass when you spend over $25,000 in a year
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks, access to lounges, and priority travel perks

    Pros

    • 85,000 bonus welcome points
    • 3X the points on eligible spending with Air Canada® and Air Canada Vacations
    • Priority Check-In, Boarding, and Baggage Handling when flying Air Canada
    • Access to Air Canada Maple Leaf Lounges and Café for you and a guest
    • 15% discount on parking rates
    • Earn 3 points per dollar spent with Air Canada and Air Canada Vacations

    Cons

    • High annual fee
    • You can only earn Aeroplan points
  • More Details

    Bonuses and fees

    The American Express Aeroplan Reserve Card is a premium travel card with a $599 annual fee and a welcome bonus of up to 85,000 Aeroplan points. You'll earn 55,000 of those Aeroplan points by spending $6,000 in the first 6 months of having the card, plus another 5,000 points for each month you spend $1,000 or more on the card (in the first 6 months).

    Rewards

    You can earn Aeroplan points at a rate of:

    • 3 Aeroplan points per $1 spent on Air Canada
    • 2 Aeroplan points per $1 spent on eats & drinks and food deliveries
    • 2 Aeroplan points per $1 spent at Rocky Mountaineer rail-tours
    • 1.25 Aeroplan points per $1 spent everywhere else

    Perks and benefits

    • Enroll in NEXUS and get a $100 rebate
    • Access to Maple Leaf Lounges a
    • Priority Check-in and Priority Boarding when flying Air Canada
    • Annual Worldwide Companion Pass if you spend at least $25,000 in a year

    Insurance

    Like most American Express cards, the Aeroplan Reserve offers comprehensive travel and medical coverage:

    • Emergency medical insurance
    • Flight delay & trip cancellation insurance
    • Lost or stolen baggage insurance
    • Mobile device coverage
    • $500,000 travel accident insurance

Scotiabank®* Gold American Express® Card

Great for generous welcome bonus and high earn rate on Scene+ points
  • Annual Fee
    $120
  • Interest Rate
    19.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    45,000 pts
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 45,000 bonus Scene points as a welcome bonus in your first year
    • No foreign transaction fees
    • Shop online and abroad, only only the exchange rate applies
  • Pros & Cons

    Why we like it

    Great for generous welcome bonus and high earn rate on Scene+ points

    Pros

    • 45,000 bonus welcome points
    • No foreign exchange fees when purchasing abroad or online
    • Earn 5x Scene+ points per $1 spent at grocery stores, restaurants, and food deliveries
    • Access to presale tickets and VIP seating in select events through American Express' Front Of The Line program
    • Comprehensive travel and medical insurance
    • No annual income requirement to apply for the card

    Cons

    • Needs a good credit score (660+)
    • It isn't as widely accepted in Canada as Visa or Mastercard
  • More Details

    Bonuses and fees

    The Scotiabank Gold American Express Card has an annual fee of $120 (completely waived for the first year). If you find yourself travelling abroad often or making online purchases, this card might be for you. It doesn’t charge any kind of foreign transaction fee, and it is accepted everywhere the American Express network is supported.

    Perks and Benefits

    With this card, you can earn Scene+ points on all purchases, and It has all the benefits you can expect from an Amex card; here’s the breakdown:

    • 5 Scene+ points per $1 spent on groceries, restaurants, food delivery, entertainment, movies, and ticket agencies
    • 3 Scene+ points per $1 spent on transit, including subway, taxis, buses, and streaming services subscriptions
    • 1 Scene+ point per $1 on all other purchases
    • Access to presale tickets through Amex’s Front Of The Line program
    • Complimentary concierge service
    • Access to airport lounges and invites to exclusive events

    Redeeming Your Rewards

    Redeeming with the Scotiabank Gold Amex card is very easy – you can book flights and exchange your points at any time through the Scene+ Travel portal. You will need to create a Scene+ Travel account to start browsing through all the offers and destinations.

    Insurance

    The Scotiabank Gold American Express Card offers comprehensive insurance that includes both travel and medical coverage. Here are the supported categories:

    • Travel emergency medical insurance
    • Trip delay or cancellation insurance
    • Delayed or lost baggage insurance
    • Rental car insurance
    • Hotel/motel burglary insurance

Scotia Momentum Visa Infinite Card

Great for promotional cash back rate and high earn rates on groceries and online subscriptions
  • Annual Fee
    $120 (1st year free)
  • Interest Rate
    20.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    $200
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn $200 cash back as a welcome bonus after spending $2,000 within 3 months
    • Annual fee waived in the first year
  • Pros & Cons

    Why we like it

    Great for promotional cash back rate and high earn rates on groceries and online subscriptions

    Pros

    • $200 bonus
    • Earn 10% cash back on all purchases for the first 3 months
    • Comprehensive travel and medical insurance
    • 4% cash back on groceries and subscription purchases
    • Extended warranty and protection on all purchases
    • No fees when requesting additional cards

    Cons

    • Requires a minimum yearly income of $60,000
    • Rewards can only be redeemed yearly
  • More Details

    Bonuses and fees

    The Scotia Momentum Visa Infinite Card is one of the best promotional cash back cards. It has an annual fee of $120, which is completely waived for the first year. For the first three month, you will have a 10% cash back rate on all purchases, up to a maximum of $2,000 spent ($200 cash back).

    Rewards

    After the promotional period, the cash back rates are still very generous, and you will earn:

    • 4% cash back on groceries, subscriptions, and recurring bills
    • 2% cash back on all gas and transit spending
    • 1% cash back on all other purchases

    There are no limits on how much cash back you can earn every year.

    Perks and Benefits 

    Some additional benefits of this card include:

    • Complimentary Visa Concierge services
    • Access to the Visa Infinite Hotel Collection and the Visa Infinite Dining and Wine program
    • 25% off car rentals at Budget and Avis stores worldwide

    Insurance

    This card comes with comprehensive insurance; some of the insured categories include:

    • Auto rental collision insurance
    • Trip delay or cancellation insurance
    • Flight delay and lost or stolen baggage insurance
    • New Mobile Device Insurance
    • Travel Emergency Medical Insurance
    • Travel accident protection

American Express Platinum Card

high earn rate at eligible eats & drinks and the option to transfer points to other programs
  • Annual Fee
    $699
  • Interest Rate
    N/A
  • Welcome Bonus
    90,000 MR points
  • Rec. Credit Score
    760+
  • Features & Benefits

    • Earn 90,000 Membership Rewards points after you spend $6,000 within your first 3 months
    • Earn 20,000 Membership Rewards points after spending $2,000 at eligible eats & drinks purchases within your first 3 months
    • Full access to the American Express Global Lounge Collection, the Centurion Lounge network, the Plaza Premium Lounges, and more
    • Redeem your points through American Express Travel Online, the Flexible Points Travel Program, or the Fixed Points Travel Program
    • Transfer your points to other reward programs: Marriott International, Hilton Hotels and Resorts, Radisson Hotel Group Americas, Hertz and Avis
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks and the option to transfer points to other programs

    Pros

    • 90,000 MR points
    • Earn 10 MR points per $1 spent on eligible eats & drinks purchases
    • Access to over 1,200 American Express lounges worldwide
    • Transfer MR points between Aeroplan and Avios (1:1)
    • Comprehensive travel and medical insurance
    • Travel accident and emergency insurance

    Cons

    • High annual fee
    • Needs a good credit score (660+)
  • More Details

    Bonuses and fees

    The American Express Platinum Card is a premium credit card with one of the highest annual fees, set at $699. It requires an excellent credit score of at least 760 to apply. This card offers a promotional earn rate of 10 MR points per $1 spent on eligible eats & drinks for your first three months. 

    Rewards

    You can earn MR points at a rate of:
    • 3 MR points per $1 on eats & drinks, dining, and food deliveries
    • 2 MR points per $1 spent on travel-related purchases (flights, hotels, and more)
    • 1 MR point per $1 spent on everything else
    • 1 additional point per $1 spent on eligible hotels or car rentals

    Perks and benefits

    • Access to presale tickets through Amex’s Front Of The Line program
    • Complimentary membership to Hilton Honors Gold Status and Marriot Bonvoy Gold Elite status
    • Exclusive access to American Express Experiences (entertainment, dining, retail)
    • Enroll for NEXUS and get a $100 rebate 
    • Special offers when booking travel through American Express Travel Online
    • Priority lane at the Toronto Pearson International Airport

    Insurance

    Like most American Express cards, the Platinum Card offers very complete coverage:
    • Emergency medical insurance
    • Flight delay & trip cancellation insurance
    • Lost or stolen baggage insurance
    • Mobile device coverage
    • $500,000 travel accident insurance

American Express Gold Rewards Card

high earn rate at eligible eats & drinks, and medical & travel insurance
  • Annual Fee
    $250
  • Interest Rate
    20.99% on purchases, 21.99% on cash advanes
  • Welcome Bonus
    50,000 pts
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 40,000 Membership Rewards points as a welcome bonus after you spend $3,000 within 3 months
    • Earn an additional 10,000 points when you make a purchase between 14 and 17 months of Cardmembership
    • Annual $100 Travel Credit
    • Priority Pass membership and 4 complimentary visits to Plaza Premium Lounges in Canada
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks, and medical & travel insurance

    Pros

    • 50,000 MR points
    • Earn 2 points for every $1 in Card purchases on eligible travel
    • Transfer points 1:1 to other loyalty programs (Aeroplan, Marriot Bonvoy, and more)
    • Comprehensive travel and medical insurance
    • $100 travel credit and 4 complimentary visits to Plaza Premium Lounges
    • Complimentary Priority Pass membership

    Cons

    • High annual fee ($250)
    • $50 to request an additional Gold Rewards Card
  • More Details

    Bonuses and fees

    The American Express Gold Rewards Card is a premium travel card with an annual fee of $250. You can earn 2 MR points per $1 spent on travel-related purchases, as well as 2 MR points per $1 spent on groceries, gas, and drugstores. To apply for this card, you need a good credit score of at least 660. There is no minimum annual income requirement.

    Rewards

    You can earn MR points at a rate of:
    • 2 MR points per $1 spent on travel-related purchases
    • 2 MR points per $1 spent on groceries, gas, and drugstores
    • 1 MR point per $1 on all other purchases
    • 1 MR bonus point on Amex Travel Online bookings

    Perks and benefits

    • 1 free additional card 
    • Access to American Express’ Front Of The Line program and American Express Experiences
    • Worldwide Airport Lounge Access
    • Complimentary $100 Annual Travel Credit

    Insurance

    The American Express Gold Rewards Card’s got you covered in most insurance categories:
    • Emergency medical insurance
    • Flight delay and cancellation insurance
    • Lost or stolen baggage insurance
    • Travel emergency assistance
    • $500,000 travel accident insurance

RBC Avion Visa Infinite

Great for high earn rates on travel-related purchases, rentals, and flights
  • Annual Fee
    $120
  • Interest Rate
    19.99% on purchases, 21.99% on cash advances
  • Welcome Bonus
    55,000 pts
  • Rec. Credit Score
    760+
  • Features & Benefits

    • 15,000 RBC Rewards points as a welcome bonus
    • Earn bonus RBC Rewards points when you shopping at RBC Rewards eMall
    • Earn bonus RBC Rewards points when you use Carlson Wagonlit Travel to book your travel or rent a car at Thrifty Car Rental
  • Pros & Cons

    Why we like it

    Great for high earn rates on travel-related purchases, rentals, and flights

    Pros

    • 55,000 bonus welcome points
    • Earn 1 RBC point per $1 on all purchases
    • Earn 25% more points (1.25 RBC points per dollar) on travel related purchases like travel, rentals, and bookings
    • Book flights and don't worry about blackout periods or seat restrictions
    • Comprehensive travel and medical insurance
    • Plan your vacations and purchase flight tickets directly from RBC's travel portal

    Cons

    • Requires a minimum yearly income of $60,000
    • Needs an excellent credit score (760+)
  • More Details

    Bonuses and fees

    The RBC Avion Visa Infinite card has an annual fee of $120 and has one of the best welcome offers of a travel credit card. It requires a minimum income of $60,000+ and an excellent credit score (760+).

    Perks and Benefits

    With this card, you can earn RBC Rewards points on all your purchases and redeem them for travel rewards. Here are the current rates:

    • 35,000 RBC Rewards points after getting your card approved
    • 20,000 bonus RBC Rewards points if you spend $5,000 within the first 6 months of receiving your card
    • 1 RBC Rewards point per $1 spent on all purchases
    • 1.25 RBC Rewards points (25% bonus points) at eligible travel purchases

    Redeeming Your Rewards

    You can redeem your RBC Rewards points through RBC’s Rewards portal and choose from the Air Travel Redemption schedule a destination, an airline, and more. Flights start at 15,000 RBC and can go as high as 100,000 for destinations like New Zealand, the Middle East, and Asia. Here are some other ways you can redeem your points:

    • Choose from over 50,000 tech products and merchandise
    • Gift cards
    • RBC Financial Vouchers
    • Convert your points to other rewards programs like Hudson Bay Rewards points and WestJet Dollars
    • Use your points to pay your credit card balance

    Insurance

    This card comes with comprehensive insurance, and some of the categories include are:

    • Out of province/country emergency medical insurance
    • Travel accident insurance
    • Auto rental collision insurance
    • Trip delay or cancellation insurance
    • Hotel/motel burglary insurance
    • Mobile device insurance

    You can check their page for an extensive breakdown of all the applicable scenarios and exceptions.

Tangerine World Mastercard

Great for promotional cash back rate and customizable cash back categories
  • Annual Fee
    $0
  • Interest Rate
    19.95% on purchases, 19.95% on cash advanes
  • Welcome Bonus
    $150
  • Rec. Credit Score
    725+
  • Features & Benefits

    • Earn $100 cash back welcome bonus after spending $1,000 within your first 2 months
    • Earn bonus cash back on 2 categories plus an additional category when you link your Tangerine Savings Account
    • No limit on how much cash back you can earn
  • Pros & Cons

    Why we like it

    Great for promotional cash back rate and customizable cash back categories

    Pros

    • $150 bonus
    • Earn 10% cash back on all purchases for the first 2 months (2% cash back on 2 categories afterwards)
    • Unlock a third category and earn 2% cash back by creating a Tangerine Savings Account
    • There's no annual limit to how much cash back you can earn
    • Mobile device & rental car insurance
    • Customizable cash back spending categories

    Cons

    • No free passes included with the Mastercard Travel Pass (DragonPass)
    • Requires a minimum yearly income of $60,000
  • More Details

    Bonuses and fees

    The Tangerine World Mastercard is a no-fee customizable cash back card that allows you to choose how to earn additional cash back. You can choose from 10 categories and earn bonus cash back with no annual limits. New cardholders will get promotional cash back of 15% for the first two months on all purchases up to $1,000 spent ($150 cash back).

    Rewards

    With Tangerine, you can select which categories you will earn extra cash back on. Keep in mind you can change them at any time, but it will take up to 90 days before it takes effect.

    • 2% cash back in two categories (choose from gas, groceries, hotels, home improvement, and more)
    • 0.5% cash back on all other purchases

    Perks and benefits

    • Unlock an additional 2% bonus cash back category by linking your Tangerine Savings Account with your credit card
    • Access to the Mastercard Travel Rewards program when purchasing abroad
    • Access to the Boingo Wi-Fi network worldwide
    • Complimentary DragonPass Mastercard Travel Pass
    • Choose from 10 cash back categories to earn bonus cash back

    Insurance

    Up to $60,000 in coverage for all purchases plus:

    • Loss, theft, and damage insurance
    • Extended warranty (up to 1 additional year)

Marriott Bonvoy American Express Card

high earn rate at eligible eats & drinks
  • Annual Fee
    $120
  • Interest Rate
    19.99% on purchases, 21.99% on cash advances
  • Welcome Bonus
    65,000 pts
  • Rec. Credit Score
    725+
  • Features & Benefits

    • Earn 65,000 points as a welcome bonus after you spend $1,500 within your first 3 months
    • Earn 10,000 bonus points after spending $2,000 on eligible eats & drinks purchases within your first 3 months
    • Automatic Marriot Bonvoy Silver Elite status plus 35,000 bonus points after you first year, redeemable at over 7,000 hotels worldwide
    • Upgrade to Gold Elite status after you charge $30,000 in net purchases to your Card each year
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks

    Pros

    • 65,000 bonus welcome points
    • Earn 5 points per $1 spent at eligible eats and drinks
    • Request 3 additional cards at no cost
    • Anniversary award of up to 35,000 points at eligible hotels
    • Redeem points for no-blackout dates at over 7,000 hotels
    • 15 Elite Night Credits each year

    Cons

    • Not all hotel fees are waived when you pay with points
    • Points expire after 24 months of inactivity
  • More Details

    Bonuses and fees 

    The Marriott Bonvoy American Express Card is a travel card with an annual fee of $120. It comes with a promotional earn rate of 5 points per $1 spent on eats & drinks for the first three months, up to a maximum of $2,000 spent (10,000 points). Marriott Bonvoy points can be transferred to other flyer programs like Air Canada, Avios, and Etihad.

    Rewards

    • 5 points per $1 spent on eats & drinks for the first three months (max. $2,000 spent)
    • 5 points per $1 spent at participating Marriott Bonvoy hotels
    • 2 points per $2 spent on all other purchases
    Keep in mind that when you spend at participating Marriott Bonvoy hotels, you will double dip and earn 5 points per $1 plus what you earn as a Marriot Bonvoy member.

    Perks and benefits

    Some additional benefits include:
    • Birthday bonus: Annual Free Night after your card anniversary
    • Refer friends and earn up to 150,000 per year
    • Transfer your points to other flyer programs at a rate of 1 Marriot Bonvoy points for 3 Aeroplan, Emirates, or Etihad points
    • Request up to 9 additional cards at no cost

    Insurance

    • Flight Delay & baggage delay insurance
    • Hotel burglary insurance
    • Lost or Stolen Baggage Insurance
    • Travel Accident Insurance
    • Car rental insurance
    The travel accident insurance covers up to $500,000.

BMO CashBack MasterCard

Great for high earn rate on groceries and very low balance transfer fees
  • Annual Fee
    $0
  • Interest Rate
    19.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    $25
  • Rec. Credit Score
    660+
  • Features & Benefits

    • $125 in cash back as a welcome bonus after spending $2,500 within your first 3 months
    • Get a 1.99% introductory interest rate on Balance Transfers for 9 months, 1% fee applies to balance amounts transferred
    • Redeem your cash back as a direct deposit, credit on your statement, or a deposit to your BMO InvestorLine account
    • Extended Warranty and purchase protection
    • Discount on car rentals
  • Pros & Cons

    Why we like it

    Great for high earn rate on groceries and very low balance transfer fees

    Pros

    • Earn 5% cash back on all purchases for the first 3 months
    • 3% cash back on groceries
    • Very low introductory interest rate (1.99%) for the first 9 months
    • Redeem any amount of cash back instantly & set up automatic deposits
    • Extended warranty and protection on all purchases
    • 25% off at National Car Rental and Alamo Rent a Car locations

    Cons

    • Cash back capped at $500/month
    • Low base earn rate
  • More Details

    Bonuses and fees

    The BMO CashBack Mastercard is a no-fee credit card that offers very competitive cash back rates, even compared to some premium credit cards. New cardholders can enjoy a 5% cash back on all purchases for the first three months. If you’re looking to transfer your balance, this is also a great option; the BMO CashBack Mastercard charges just 1% in transfer fees and has a fixed 1.99% rate for the first 9 months.

    Rewards

    The BMO CashBack Mastercard offers cash back on all purchases and bonuses in certain categories. Here’s the breakdown:

    • 3% cash back on groceries 
    • 1% on subscriptions like streaming services and utilities
    • 0.5% on all other purchases

    Perks and Benefits

    Redeeming Your Cash Back

    After accumulating $25 in cash back, you can redeem it at any time. Here are the options you have:

    • Set up deposits directly into a BMO account (Savings, Chequing, or InvestorLine)
    • Get a credit on your monthly statement
    • Set up recurrent payments when you accumulate a certain amount of cash back
    • Get a one-time lump sum payment

    Keep in mind your cash back rewards won’t expire as long as your account is in good standing.

Pros & Cons Of Credit Card Promotions

Pros: Why Credit Card Promotions May Be Worth It

  • Earn rewards on every purchase and access unique benefits
  • Choose from dozens of credit cards with different perks
  • Establish a solid credit history and build your credit score
  • You can borrow money and make purchases instantly 
  • Pay your balance on time and you won’t pay interests
  • Extended warranty and purchase protection 

Cons: Why Credit Card Promotions May Not Be Worth It

  • It can be harder to budget and you might overspend
  • If you fall behind on payments you will have to pay higher interests than other forms of credit
  • Can damage your credit score if you pay on time

How To Choose Credit Card Promotions In Canada

Card Type

The most important thing you should consider when shopping for a credit card is the type of card it is. In Canada, there are many types of credit cards with excellent promotions, but not all will fit your long-term goals. In general, a good starting point is a cash back credit card. These are easy to incorporate into your day-to-day spendings like trips to the grocery store or gas stations, and there are many good options with little-to-no annual fees. If you travel often, you may want to look into specialized cards like travel or low-interest credit cards.

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Annual Fees

Another important fact to consider is the annual fees – a high annual fee can impact how effective a credit card is for you, all will determine if it's the right fit for you. If you end up paying more from the annual fee than all you earn from the benefits, that's a sure thing that card is not for you. Planning ahead is paramount when choosing a premium credit card, especially for travel or other points-based credit cards.

Interest Rates

Considering how cash back credit card rates are usually in the 1%-5% range, and interest rates are around 19.99%-22.99%, if you fall behind on your credit card payments, the interest rates can start eating at any potential benefit. Make sure you can keep up with the payments or choose a dedicated credit card with low-interest rates.

Welcome Bonus And Promotional Rates

All credit cards listed here come with very generous welcome bonuses and promotional rates to entice users, but don’t be blinded by them. Check the rates after the promotional period ends – because ultimately, it will end – and decide if it’s worth applying for the card and keeping it open even after the promo period ends. 

Credit Bureau Reporting

If you’re looking to build your credit, you want your credit card issuer to report to as many credit card bureaus as possible. The two biggest bureaus in Canada are Equifax and TransUnion, and those are the first two institutions that credit card issuers check. This is particularly relevant if you’re looking for a secured card, as the main purpose of these is to build your credit.

Issuer

The two biggest credit card networks in Canada are Visa and Mastercard. Both are acceptable options and are accepted almost universally. You will have no trouble using either of these when making online purchases or travelling abroad. 

Credit Card Insurance & Purchase Warranties

Some credit cards offer comprehensive travel and medical insurance. This type of card usually has the highest annual fees but is a great option if you travel often and want to make sure your family is also protected.

Credit Card Promotions FAQs

Are Credit Card Promotions Worth It?

When credit card promotions might be worth it for you:

  • If you are looking for the most cost-effective credit cards
  • If you find yourself making a lot of purchases and spending a lot of money every year at restaurants, gas stations, and grocery stores
  • If you have no trouble keeping up with your monthly credit card payments and are very unlikely to fall behind on payments
  • If you have a high credit score and can access the best credit cards with the best benefits
  • If you are looking to make a large purchase and need a line of credit 
  • If you want to start earning points for a vacation or cash back on regular purchases

When credit cards promotions might not be worth it for you

  • If you often fall behind on payments a credit card is not for you
  • If you don’t make enough from the perks and benefits to pay off the yearly fee of a credit card
  • If you are likely to build up more debt than you can handle, a credit card might not be for you
  • If the rates after the promotional period ends are unacceptable for you

What Is The Best Free Credit Card Promotion In Canada?

The best free Promotion Credit Card in Canada is the MBNA True Line Mastercard credit card. It offers a 0% introductory interest rate for the first 12 months plus discounts at car rentals in the US and Canada.

How Do I Get The Best Deal On My Credit Card?

If you want to get the best deals you will need to look for referral links, in-account upgrade offers (if you already have a card), or even emails from the issuer. Credit card promotions can usually be found directly on the card issuer's website – but these are seldom the best offers. It's worth taking some time and doing research to make sure you get the best deal. Keep in mind all our links offer the best credit card promotions available.

What Are Welcome Offers?

Welcome offers are time-limited bonuses or credit card promotions designed to entice users to apply for a credit card.

What Are The Hardest Credit Cards To Get?

The American Express Centurion Card – also known as the American Express Black Card – is the hardest and most prestigious American Express credit card to get. Not everyone can apply for this card because it requires an invitation to be eligible. Individuals with annual spending of at least $100,000 typically qualify for this card.

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