06 Best Credit Card Sign up Bonus Canada

Are you looking for the best credit card sign up bonus Canada? The Canadian rewards market is highly competitive, with major banks like RBC and Amex offering increasingly aggressive welcome bonuses to attract customers.

The promotional value can potentially reach up to $1,100 CAD, but you must understand that this total amount includes points, annual fee waivers, and extra benefits.

To find the best credit card sign up bonus Canada, you need to know how the value is calculated and which spending requirements must be met to redeem the full bonus.

In this objective guide, we will analyze the cards with the best offers available. This way, you will know how the bonus value is calculated, which options offer the highest return, and what truly makes a bonus the ideal best credit card sign up bonus Canada for your finances.

Understanding the Real Value of Sign-Up Bonuses

When a bank announces a sign-up bonus of $1,000 or more, this number usually represents the maximum potential value.

You should know that this value is the sum of several components, and not all of it is liquid cash or points in your pocket. The total promotional value combines:

• Initial Points: The bonus granted upon approval.
• Additional Points: Extra rewards after meeting a qualified minimum spend within a period (usually 3 to 4 months).
• Annual Fee Waiver: Most premium cards with large bonuses waive the annual fee in the first year.
• Niche Benefits: The value attributed to advantages such as airport lounge access or specific annual credits (for hotels or restaurants).

For the consumer, the First Year Free Waiver (FYFW) is fundamental. It allows you to test the card for 12 months, ensuring the bonus is maximized.

Getting to Know the Best Credit Card Sign Up Bonus Canada

The market is divided between flexible loyalty points cards (like RBC Rewards and Membership Rewards) and Cash Back cards (direct reimbursement). Below, we present an objective overview of the main alternatives.

1. RBC Avion® Visa Infinite Card (Best Credit Card Sign up Bonus Canada)

The RBC Avion® Visa Infinite Card is the most popular rewards card in the country, thanks to its high bonus and the great flexibility of the RBC Rewards program.

As a rule, the sign-up bonus can reach up to 55,000 Welcome Points, which RBC estimates at up to $1,100 CAD, requiring progressive spending and time requirements to reach this value.

The card’s main focus is to help you with travel. With it, you will earn 1.25 RBC Rewards points for every $1 spent on travel-related purchases, representing 25% more than the basic rate.

The security and travel benefits are a differential, including Mobile Device Insurance with coverage of up to $1,000 in case of loss, damage, or theft of devices purchased with the card.

Additionally, the card grants four complimentary annual visits included through the Visa Airport Companion Program and offers Rental Car Collision/Damage Insurance (standard primary coverage), complemented by Extended Warranty and Purchase Protection.

2. Scotiabank Gold American Express® Card

This card stands out with a benefit in the Canadian market, making it superior for those who travel abroad.

Welcome offers, first-year rewards, and savings can total up to $1,050, which includes up to 50,000 bonus Scene+ points.

The standard annual fee of $120 is waived in the first year ($0).

Its focus is on Travel and International Daily Spending, mainly due to the Foreign Transaction Fee Waiver (0% FTF).

You will also get a 6x Scene+ Points Multiplier per $1 CAD spent at specific grocery stores. In addition to a 5x Scene+ Points Multiplier on restaurants, entertainment, and food delivery services. Not to mention the 3x Scene+ Points Multiplier on daily transportation, gas, and streaming services.

Scene+ points are flexible for redeeming any travel item, and the card also includes Comprehensive Travel Insurance (accidents and luggage) and Extended Warranty and Purchase Protection.

3. American Express Cobalt® Card (Best Credit Card Sign up Bonus Canada)

The American Express Cobalt® Card is considered one of the best travel credit card Canada. With this card, you get a bonus of 1,250 bonus points for each month you spend $750, up to a maximum of 15,000 points, in the first year.

The annual fee is not waived but is charged monthly at $12.99/month (total of $155.88 annually), thus facilitating the entry of new customers.

Its points program is also very interesting, it works like this:

• 5x Membership Rewards Points per $1 spent on restaurants, supermarkets, and food delivery services;
• 3x Membership Rewards Points on eligible streaming services and travel;
• 2x Membership Rewards Points at gas stations and local transit.

The card also includes protections such as Travel Accident Insurance, Travel Interruption/Delay Insurance, Rental Car Collision/Damage Insurance, and access to the Amex Offers Program with exclusive offers and credits.

4. CIBC Dividend® Visa Infinite* Card (CIBC)

If you are looking for the best credit card sign up bonus Canada in terms of cash back, the CIBC Dividend® Visa Infinite Card* offers clarity and transparency in value.

The sign-up offer is simple and direct: 10% cash back on the first 4 statements, up to a maximum of $250 return.

The focus is on cashback and reimbursement, and after the initial 10% bonus, the standard earning is a solid 4% cashback on gas stations, electric vehicle charging, and grocery stores, and 2% cashback on restaurants and entertainment.

Insurance benefits include Travel Emergency Medical Insurance with coverage of up to $5,000,000 for up to 10 days (for cardholders under 65), in addition to Travel Accident Insurance (coverage of up to $500,000) and Car Rental Insurance (coverage of up to $65,000 for up to 48 days).

5. American Express Platinum Card

As a rule, the American Express Platinum Card has an annual fee of $799, but a sign-up bonus that can reach up to 70,000 Membership Rewards points in the first 3 months.

Its focus is Ultra-Premium Travel and Annual Credits. The value is justified by luxury benefits, such as the Global Lounge Collection™, which offers industry-leading access to over 1,400 VIP lounges worldwide, including The Centurion® Lounge and Delta Sky Club.

To offset the high fee, it offers an Annual Travel Credit of $200 (for bookings on Amex Travel Online) and an Annual Dining Credit of $200 at selected elite restaurants in Canada.

6. TD Aeroplan Visa Infinite Card (Best Credit Card Sign up Bonus Canada)

This card is one of the main ones for those loyal to Air Canada. Using it, you will get a sign-up bonus that can reach 45,000 Aeroplan points, with a total value of up to $1,450.

One of the most valued benefits is the Free Checked Bag for the cardholder and up to eight travel companions on the same reservation.

Additionally, the card has a NEXUS Reimbursement and the ability to share Aeroplan points through the Family Sharing feature with up to 8 family members.

Comparative Table of the Best Credit Card Sign-Up Bonus Canada

This table summarizes the crucial data to objectively compare the main offers and find the best credit card sign up bonus Canada for your profile.

Card (Issuer)	Sign-Up Bonus (Est. Value)	Annual Fee (1st Year)	Minimum Spend/Conditions	Income Requirement (Min.)	FTF
RBC Avion® Visa Infinite Card	Up to $1,100 (55K pts)	$0 (Waiver)	Tiered spending and time	$60K personal / $100K household	2.5%
Scotiabank Gold American Express® Card	Up to $1,050 (50K Scene+)	$0 (Waiver)	Tiered spending and time	$60K personal / $100K household	0% (Waived)
American Express Cobalt® Card	Up to 15,000 MR points	$12.99/month	$750/month	Not explicitly stated (Ideal >$60K)	2.5%
CIBC Dividend® Visa Infinite* Card	$250 Cash Back (10%)	$0 (Waiver)	10% Cash Back in the first 4 months	$60K personal / $100K household	2.5%
American Express Platinum Card	Up to 70,000 MR points	$799	Spending in the first 3 months	High Level	2.5% (Estimated)
TD® Aeroplan® Visa Infinite Card*	Up to 45,000 Aeroplan pts	$0 (Waiver)	Spending in the first 3 months	$60K personal / $100K household	2.5% (Estimated)

Conclusion (Best Credit Card Sign up Bonus Canada)

In this analysis, we saw that the best credit card sign up bonus Canada is the one that aligns with your spending habits and ability to meet income requirements.

The RBC Avion® Visa Infinite Card has the highest value and robust insurance, while the Scotiabank Gold American Express® Card is good for travelers with its 0% FTF. Now, for those seeking simplicity, the CIBC Dividend® Visa Infinite* Card offers the clearest value with its Cash Back bonus.

However, the high value of the bonus must be weighed against the quality of service.

Issuers with massive bonuses, such as Scotiabank and RBC, often have notoriously low customer service ratings. This suggests that the initial attraction of the bonus requires extra patience when managing the account.