If you're a Canadian looking for a great credit card, there are a ton of options. But it can be daunting to sift through all of the cards out there to figure out which one credit card Canada has that is right for you.
This is especially true when you're looking for a specific feature like the cards with the best sign up bonus.
That's why I put together this post on the best credits cards that Canada has to offer. It has a focus on the cards that give you a solid sign up bonus, but I also go over all the other great features that each has as well.
So you'll have a pared-down set of cards you can go through to decide which one suits your needs.
Sound good? Keep reading to find out more!
Disclaimer:
The content in this article or page is for informational purposes only. While we only conduct the most thorough research and evaluations, and update our content continuously, we cannot guarantee 100% accuracy of the details shown. Users may choose to visit the actual company website for more information.
American Express Cobalt Card
The American Express Cobalt Card is considered by many to be the best card in Canada. And there are a lot of compelling reasons why.
For starters, it comes with a robust 30,000 point welcome bonus. And then when you get 2,500 points every month for the first year, as long as you spend $500 on the card that month.
So the sign up bonus is huge for anyone who gets the card and then spends consistently on it throughout the first year.
The rewards program for the Cobalt card is also excellent. You get five points for every dollar spent on dining and food delivery and two points for every dollar spent on travel. This includes gas as well as transit passes.
Finally, you get one point per every dollar spent on anything else.
Their redemption package is also great. You can redeem your points on any airline, and there are blackout dates.
The American Express Cobalt Card also offers a $10 credit on your statement towards travel purchases whenever you hit 1,000 points.
The net result on this is 5% return on food and drink purchases, as well as a 3.5% return for everything else.
Finally, cardholders get access to American Express Invites. This is a program that gives you a chance for advance purchase on concert and show tickets.
It has a solid insurance package with $250K of travel accident insurance. Expect to pay an annual fee of $120.
TD Aeroplan Visa Infinite
The TD Aeroplan Visa Infinite card is an excellent one for people looking for a sign up bonus centered on airline miles.
You'll get 30,000 Aeroplan miles when you sign up. 15,000 of them are credited to you immediately, and then the other 15,000 come after you spend $1,000 on the card within the first three months.
Those 30,000 points come out to a round trip flight within Canada and the U.S., (with some miles leftover).
You also get miles for standard purchases. For example, 1.5 miles for every dollar spent on groceries, at drugstores, on gas, and on aircanada.com purchases.
Then beyond that, you get 1 mile for every dollar spent on everything else. So you'll feel confident in your rewards no matter how you're using your card.
Travelers love that when you use your Aeroplan points for flights on Air Canada, you get travel perks like a free checked bag and priority check in and boarding. Plus a free guest pass to the Maple Leaf Lounge once a year
And an added bonus is that there's no annual fee for the first year.
Marriott Bonvoy American Express
If you'd like a card with a great sign up bonus that's geared more towards hotel rewards, then the Marriott Bonvoy American Express is a great option.
It offers a huge bonus of up to 50,000 points. Just spend $1,500 on the card within the first three months of signing up. That's enough points for three nights at certain hotels.
Beyond that, you get 5 points for every dollar you spend at Marriott properties, as well as two points for every dollar you spend on everything else.
So your Marriott Bonvoy points will accumulate quickly, and you'll be able to use them on any of more than 7,000 Mariott properties around the world.
Some other excellent perks of the cards are that you get a free night stay on the anniversary of when you signed up for the card. It's worth up to 35,000 points. And the free night balances out the $120 annual fee.
You also get Silver Elite status automatically, which enhances each stay by giving you bonus points as well as priority check in.
And you can be bumped up to Gold Elite status once you spend $30,000 in a given year. In addition, you'll get 15 Elite Night credits per year.
Other perks are that you can transfer points to a variety of 40 different airline rewards programs, and there's no annual fee on additional cards.
Alaska Airlines Platinum Plus Mastercard
The Alaska Airlines Platinum Plus Mastercard is another great card with a solid sign up bonus.
You'll start with 20,000 miles that kick in once you make $1,000 of purchases within the first three months of card ownership. After that, you get one mile for every dollar you spend on the card.
Plus you get three times the miles on any purchases on Alaska Airlines. In addition, you'll have access to the companion voucher program, where for $99 you can add someone else to your trip on Alaska Airlines.
The card provides you with seven assorted types of purchase and travel insurance. Plus the annual fee is lower than most of the other cards on this list, at only $75 a year.
You'll be able to redeem your Alaska Mileage Plan miles on all of the global airline partners of Alaska Airlines, giving you access to over 900 destinations worldwide.
BMO AIR MILES Mastercard
The BMO AIR MILES Mastercard is a good alternative if you're seeking a no fee travel card.
After you sign up for the card, you'll get a sign up bonus of 800 miles. 400 of which apply immediately and 400 more apply after you spend $1,000 on the card during the first three months.
Beyond that, you'll get one mile for every $10 you spend at select AIR MILES sponsors. Plus one mile for every $20 you spend everywhere else.
You can use your miles from this card on a huge variety of things such as car rentals, vacation packages, flights, hotels and more.
The card offers a 1.99% intro interest rate on Balance transfers for the first nine months. And there's a 1% fee for balance amounts transferred.
You can also add additional cardholders to your account for free and earn more miles that way.
Other perks are a discount on car rentals, as well as extended warranty and purchase protection.
Scotiabank Passport Visa Infinite
The card is another excellent card with an impressive sign-up bonus.
Earn up to $850* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.1. Offer ends 30 April 2023.
While there aren't any points that apply after activation, once you spend $1,000 on the card within three months you get 40,000 points.
Then if you spend $40,000 on the card annually, you get 10,000 more points. That's a value of up to $400, which is pretty sweet.
You’ll earn 3x the Scene+ points for each dollar charged to your account on all eligible purchases at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés TradItIon, Rachelle Béry and Co-Op.
Earn 2 points on other entertainment purchases, dining purchases, and purchases at eligible grocery stores. It also counts for daily transit purchases, which can include buses, subways, and taxis.
And you get 1 Scene+ point for every dollar you spend on the card anywhere else. You can add additional cards to your account to help accumulate rewards points faster, and the first extra card has no annual fee.
The Scotiabank Passport Visa Infinite has a lot of great travel benefits as well. There's no foreign currency conversion markup, for one.
And you get complimentary Priority Pass membership entitling you to six visits a year to the membership lounges.
SimplyCash Preferred Card from American Express
If you'd like your sign up bonus to be more in the form of cash back, the SimplyCash Preferred Card from American Express might be more for you.
And having, say, one card with a great rewards points bonus and one with a cash back bonus can be a great strategy.
When you sign up, you get 5% cash back every time you use the card within the first three months (or first $2,000 in purchases). That's a value of up to $100.
When the sign up offer ends, you'll still get 1% cash back on all of your purchases. The card also has no annual fee, which is also great.
It has excellent travel insurance policies, including $100,000 of travel accident insurance, flight delay insurance and car rental theft and damage insurance.
Not to mention hotel burglary insurance, baggage delay insurance, and lost or stolen baggage insurance.
And cardholders can get presale tickets to all kinds of events, like shows at the theater, concert tickets, and even restaurant reservations.
What Credit Card Canada Has To Offer Will You Pick?
As mentioned before, it can be tough to figure out which one credit card Canada has that is right for you. But hopefully, this list has given you a sense of some of the excellent options out there.
You should be sure to research each potential card more thoroughly before choosing the one that's right for you. But all of the cards on this list have great sign up bonuses.
If you have any questions, contact us today!
