Best Credit Card Welcome Bonuses in Canada
Signing up for a new credit card? A 100,000-point welcome bonus sounds exciting, but it may require thousands in spending, a specific travel portal or a second annual fee before the final points arrive.
We compared current offers by net first-year value, spending required, redemption friction and whether the card itself is a good fit for the long term.
Browse the best credit card welcome bonuses by category
BACK TO TOPBest for | Credit card | Welcome offer counted in year one | Max value of points or cash bonus (CAD) | Annual fee | Total value, first year |
|---|---|---|---|---|---|
TD First Class Travel Visa Infinite Card | 146,000 TD Rewards Points | $730 | $139 (fee waived in the first year) | $730 | |
55,000 Avion points | $1,100 | $120 | $980 | ||
10% cash back on bonus eligible purchases for 3 months | $350 | $139 (fee waived in the first year) | $350 | ||
10% cash back on up to $1,000 in purchases for 60 days | $100 | $0 | $100 | ||
60,000 Aeroplan points | $960 | $599 | $361 | ||
BMO Student CashBack Mastercard | 5% cash back up to $2,500 for 3 months | $125 | $0 | $125 | |
35,000 Scene+ points | $350 | $350 | $350 | ||
80,000 Marriott Bonvoy points | $608 | $120 | $488 |
Note that the cards listed here are based on welcome bonus value only. If you’re looking for your first card or want to focus on a long-term option, check out our list of the best credit cards in Canada.
The best credit card welcome bonuses in Canada
BACK TO TOPBest overall — TD First Class Travel Visa Infinite* Card
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Points for every $1 you spend when you book travel through Expedia® For TD†.
Points for every $1 you spend on Groceries, Dining, and Public Transit†.
Points for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media†.
Points for every $1 you spend on other Purchases made using your Card†.
Avid Expedia users will get the most out of this card, with its top earn rate (8x TD points) on bookings made through the travel platform. An annual travel credit, airport lounge access and insurances round out this card as a solid pick for jetsetters. But the $139 may be too steep for some, and if you don’t use Expedia, the rewards may not be as fruitful. Best for: Frequent travellers and Expedia surfers who spend big on groceries, dining, and transit.
Pros
- $100 travel credit, annually.
- Airport lounge access and four free passes.
- Comprehensive travel insurance.
Cons
- Higher than average $139 annual fee for points card.
- Top earn rate (8x points) only applies to Expedia bookings.
- Earn up to $1,300 in value†, including up to 146,000 TD Rewards Points, receive an Annual Fee rebate for the first year† and additional travel benefits. Conditions Apply.
- Earn a welcome Bonus of 20,000 TD Rewards Points when you make your first Purchase with your Card†.
- Earn 126,000 TD Rewards Points when you spend $7,500 within 180 days of Account opening†.
- Get an Annual Fee Rebate for the first year†.
- Get an annual TD Travel Credit† of $100 when you book at Expedia® For TD.
- Earn a Birthday Bonus of up to 10,000 TD Rewards points†.
- Enjoy your time at the airport with global airport lounge access and 4 complimentary lounge visits with Visa Airport Companion Program (a value of up to $277)*.
- To receive the first-year annual fee rebate for the Primary Cardholder, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening. To receive the Additional Cardholder(s) first-year annual fee rebate, you must add your Additional Cardholder(s) while the offer is in effect.
- Offer may be changed, withdrawn, or extended at any time and cannot be combined with any other offer unless otherwise indicated.
- Earn 8 TD Rewards Points† for every $1 you spend when you book travel through Expedia® For TD†.
- Earn 6 TD Rewards Points† for every $1 you spend on Groceries, Dining, and Public Transit†.
- Earn 4 TD Rewards Points† for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media†.
- Earn 2 TD Rewards Points For every $1 you spend on other Purchases made using your Card† plus earn an annual Birthday Bonus† of up to 10,000 TD Rewards Points.
- Earn more at Starbucks: Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.
- No travel blackouts†, no seat restrictions† and no expiry† for your TD Rewards Points as long as your account is open and in good standing.
- Each year, you will receive one $100.00 TD Travel Credit on your first Eligible Travel Credit Purchase of $500.00 or more made with Expedia For TD and posted to the Account in a calendar year.
- Interest Rates: 21.99% on purchases and 22.99% on cash advances.
- Go Places on Points: Your Points are worth more when you redeem through Expedia® For TD: Search over a million flights, hotels, packages and more! When you’re ready to book, you can redeem† your TD Rewards Points towards your travel purchase right away.
- Travel Medical Insurance†: Up to $2 million of coverage for the first 21 days. If you or your spouse is aged 65 or older, you are covered for the first 4 days of your trip. Additional top-up coverage is available.
- To be eligible, $60,000 (individual) or $100,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
- †Terms and conditions apply.
- The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.
The TD First Class Travel Visa Infinite Card has the strongest mix of attainable spending, clear redemption value and first-year cost among the personal card offers we reviewed.
The offer includes:
20,000 TD Rewards points after the first purchase.
126,000 additional points after spending $7,500 within 180 days of opening the account.
A rebate of the $139 annual fee for the first year, provided the offer conditions are met.
TD Rewards points are worth 0.5 cent each through Expedia for TD, making the 146,000-point bonus worth $730. The catch is that this value is tied to Expedia for TD. The same points are worth about $482 at Amazon.ca and tanking the offer to $365 when redeemed as a statement credit.
The offer is more useful than some larger-looking bonuses because all the points can be earned within six months and the first-year fee is rebated. Applicants must meet the income requirements and should still consider whether the card is worth its $139 a year after the rebate ends.
Best for flexible flight rewards — RBC Avion Visa Infinite
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Points on eligible travel-related purchases.
Points on everything else.
The RBC Avion Visa Infinite simplifies reward accrual with 1 Avion point per $1 spent and boosted rates of 1.25x on travel purchases. A broad swath of insurance coverage, paired with value-adding extras like gas, car rental and food delivery discounts, makes this a well-rounded card for travellers. Best for: Travellers who want flexible rewards points and built-in travel protections.
Pros
- Car rental discounts of up to 20% at Hertz.
- Fuel discounts of 3 cents per litre at Petro-Canada.
Cons
- No airport lounge access.
- Highest earn rate only applies to travel spending.
- Get up to 55,000 Avion points¹, (max travel value of $1,100†), that’s up to3 short haul round trip flights. Apply by August 12, 2026.
- Earn 1.25 Avion points on travel related purchases.¹² Earn 1 Avion point on all other eligible purchases.²
- Use your Avion points to book any flight, anytime, on over 500 airlines. No blackouts or seat restrictions, even during peak season†!
- Avion Visa Infinite Cardholders earn points that never expire so your points will be waiting for your next adventure.
- Redeem your points for travel and more. Use points for anything from paying bills and paying your card balance to redeeming for Gift Cards and Merchandise at top brands like Apple. The Avion Rewards program gives you the freedom of choice to use your points your way, and helps you make the most as an Avion Visa Infinite Cardholder.
- Eligible Avion Rewards members can also convert points to other loyalty programs including WestJet dollars, British Airways Avios points and Hudson’s Bay Rewards points.
- Link your RBC card with a Petro-Points membership to instantly save 3₵ per litre on fuel⁴ at Petro-Canada stations and earn 20% more Petro-Points⁵ and 20% more Avion points⁶.
- Link your RBC card with a Rexall Be Well account and get 50 Be Wellᵀᴹ points for every $1 spent on eligible products at Rexall¹³. Redeem Be Well points faster for savings in store on eligible purchases where 25,000 Be Well points = $10.
- Get access to RBC offers which provides access to earn points faster at specified brands.
- Extensive insurance⁷ including: mobile device insurance, travel insurance (trip cancellation, interruption and emergency medical) and other eligible purchases to protect you and your family.
- Avion Visa Infinite Cardholders get access to luxury Visa Infinite benefits including first in line for exclusive events, and hotel and dining benefits.
- Avion Visa Infinite Cardholders no longer need 14-days to book travel using the RBC grid.
- Add your credit card to your DoorDash account and get a free 12 monthly DashPass subscription¹⁶
- Enjoy unlimited deliveries with $0 delivery fees on orders of $15 or more when you pay with your eligible RBC credit card.
- Corresponding legal references and product terms are available on the RBC website, which will be available and agreed upon in the customer onboarding process.
- ¹ This offer only applies to new applications for an RBC Avion Visa Infinite or RBC Avion Visa Platinum credit card (each, an “Eligible Credit Card”) received between “July 16, 2026” and “August 12, 2026” (“Offer Period”) and approved by Royal Bank of Canada (“Royal Bank”) subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the Eligible Credit Card account, as well as existing cardholders on any RBC Royal Bank personal credit card account transferring to an Eligible Credit Card account during the Offer Period, are not eligible for the offer. 35,000 welcome Avion points (“Welcome Points”) will appear on your monthly credit card statement within sixty (60) days after your application has been approved, provided that your Eligible Credit Card account remains open and in good standing at the time the Welcome points are credited to your account, “good standing” meaning that your Eligible Credit Card account must not be past due for more than two (2) consecutive credit card account statement periods, closed, charged off or in credit revoked status. You will receive 20,000 bonus Avion points (“Bonus Points”) if a total of $5,000 or more (“Qualifying Transaction Amount”) in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your Eligible Credit Card account within the first six (6) months from your Eligible Credit Card account opening date (“Period”). The Bonus Points will appear on your monthly credit card statement within sixty days (60) after you reach $5,000 in Qualifying Transactions, provided your Eligible Credit Card account remains open and in good standing at the time the Bonus Points are credited to your account. Qualifying Transactions exclude cash advances (including balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges and fees. Credits for returns and adjustments posted to your Eligible Credit Card account during the Period will reduce the amount of your Qualifying Transactions. The Qualifying Transaction Amount is based on the transaction posting date of each Qualifying Transaction, not the transaction date. This means that transactions that take place prior to the last day of the Period will not be considered for the Qualifying Transaction Amount if they have not yet been posted or processed by the merchant, the payment network (Visa) or Royal Bank by the last day of the Period. If you close or change your Eligible Credit Card for another type of RBC Royal Bank credit card before the Welcome Points and/or the Bonus Points have been credited to your account, you may lose the benefit of this offer. This offer may not be combined or used in conjunction with any other offer. Royal Bank reserves the right to cancel, modify or withdraw this offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by Royal Bank in its sole discretion. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com or call 1-800-769-2512.
- ^ Based on the Air Travel Reward redemptions from the Air Travel Redemption Schedule starting at 15,000 Avion points for a round trip within or to an adjacent Canadian province/territory or U.S State with a maximum ticket price of $350. You will need a minimum of 45,000 Avion Points for three round-trips within or to an adjacent Canadian province/territory or U.S State. All applicable taxes, service fees and surcharges are the responsibility of the traveller. For more details, including information on redeeming for first class and business class seats, please visit: www.avionrewards.com/travel/index.html. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, please visit: www.avionrewards.com or call 1-800 ROYAL 1-2 (1-800-769-2512).
The RBC Avion Visa Infinite card is a strong fit for travellers who value booking flexibility and are willing to learn RBC's flight-redemption schedule. There are some higher-earning cards on the market, but because they have a sky-high annual fee to factor in, RBC’s offer is all the more lucrative.
The welcome offer is worth up to 55,000 Avion points, earned in two steps:
35,000 Avion points on approval.
20,000 additional points after spending $5,000 in the first six months.
The advertised $1,100 value for those 55,000 points assumes an eligible flight priced close to the maximum allowed by RBC’s Air Travel Redemption Schedule. Taxes and fees are extra. A simpler hotel or car-rental redemption values the same points at $550.
The $120 annual fee is much more palatable than other premium travel cards, and it includes travel benefits that are quite strong for a card of this tier, but the card still has to earn its place after the first year.
After the $120 annual fee, the bonus is worth about $430 through a simple travel redemption or as much as $980 in a best-case flight redemption.
Best cash-back bonus — TD Cash Back Visa Infinite
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Cash back on all purchases for the first 3 months†.
Cash Back Dollars on Grocery, Gas & Electric Vehicle Charging, Public Transit Purchases†.
Cash Back Dollars on Recurring Bill Payments, and Streaming, Digital Gaming & Media Purchases†.
Cash Back Dollars on all other Purchases.†
This card offers a good selection of perks, such as travel insurance, rental car discounts and free roadside assistance. Plus, you can earn 3% on a range of everyday purchases — from groceries to digital gaming. But the insurance offerings are limited and the 3% earn rate is capped at $15,000 a year. Best for: Occasional travellers who want to earn accelerated cash back across multiple categories.
Pros
- Medical, baggage and car rental coverage.
- Free Deluxe TD Auto Club Membership.
- Solid 3% earn rate on everyday categories.
Cons
- Higher than average $139 annual fee for a cash-back card.
- 3% earn rate is capped at $15,000 per year.
- Earn up to $600 in value†, includes 10% in Cash Back Dollars in the first 3 months on Bonus Eligible Purchases up to a total spend of $3,500† and receive an Annual Fee rebate for the first year†. Conditions apply.
- 24/7 Emergency Roadside Assistance with Free Deluxe TD Auto Club membership†.
- Get an annual fee rebate for the first year†.
- To receive the first-year annual fee rebate for the Primary Cardholder, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening. To receive the first Additional Cardholder first-year annual fee rebate, you must add your first Additional Cardholder while the offer is in effect.
- Offer may be changed, withdrawn, or extended at any time and cannot be combined with any other offer unless otherwise indicated.
- Earn 3% in Cash Back Dollars on Grocery, Gas & Electric Vehicle Charging, Public Transit Purchases†.
- Earn 3% in Cash Back Dollars on Recurring Bill Payments, and Streaming, Digital Gaming & Media Purchases†.
- Earn 1% Cash Back Dollars on all other Purchases.†
- Redeem your Cash Back Dollars to help pay down your Account balance whenever you please - the choice is yours!†
- Earn more at Starbucks: Link your eligible Card to earn more Starbucks Stars at participating Starbucks stores. Conditions apply.
- Your Cash Back Dollars never expire as long as your account is open and in good standing.
- Interest Rates: 21.99% on purchases and 22.99% on cash advances.
- Travel Medical Insurance† - Up to $2 million of coverage for the first 10 days. If you or your spouse is aged 65 or older, you are covered for the first 4 days of your trip. Additional top-up coverage is available.
- Delayed and Lost Baggage Insurance† - Up to $1,000 overall coverage per insured person toward the purchase of essentials such as clothes and toiletries if your baggage is delayed more than 6 hours or lost.
- Emergency Travel Assistance Services† - Help is just a call away. Toll-free access to help in the event of a personal emergency while travelling.
- Complimentary Visa Infinite* Concierge†: On call, 24 hours a day, seven days a week, to help you get the most from life whenever you travel, shop and use your Card.
- Emergency Road Services with Deluxe TD Auto Club Membership† is included with the product.
- To be eligible, $60,000 (individual) or $100,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
- †Terms and conditions apply.
- This offer is not available for residents of Quebec.
- The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.
The best cash-back welcome bonus belongs to the TD Cash Back Visa Infinite. It pays 10% cash back on up to $3,500 in bonus-eligible purchases during the first three months, for a maximum of $350. The $139 annual fee is rebated in the first year if the offer conditions are met.
The ceiling is lower than some points cards, but the reward is actual cash. There’s no portal, award chart, or point valuation that you need to navigate. You can just spend in a way that suits your lifestyle.
Still, cash isn’t exactly a unique value proposition. And some would argue that the BMO Cash Back World Elite Mastercard’s offer is better: $40 after spending $2,000 in purchases for each of 12 billing cycles, you would come away with $480 at the end of the year.
But BMO's $480 bonus requires $24,000 in spending. TD pays $350 after $3,500 in eligible spending, making it the more attainable offer for most applicants.
Note: TD values this welcome offer at $600, including $350 cash back, $189 in annual fee rebates, and an $89 Deluxe TD Auto Club membership with 24/7 roadside assistance.
Best no-fee cash bonus — Tangerine Money-Back Mastercard
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Cash back on up to three categories.
Cash back on everything else.
Tangerine lets you pick up to three categories from a pool of 10 that you’ll earn 2% back on, making it one of the more flexible cash-back programs on the market. Other cash-back cards offer higher earn rates on similar categories, but the Tangerine Money-Back card doesn’t have caps — so, you could earn unlimited 2% back on furniture, for example, throughout the year. Best for: People who spend big in unusual categories and want a simple cash-back card.
Pros
- No annual fee.
- Choose the 2% cash-back categories based on your spending.
- 15% off H&R Block.
Cons
- Other cards offer higher rates on similar categories.
- Must have a Tangerine savings account to unlock 3rd cash-back category.
- Earn 10% cash back¹⁰ for 2 months (Up to $100) – That’s on top of regular cash back. Plus, get a promo rate on balances you transfer for a limited time. Offer Expires September 30, 2026.
- Two Categories – 2% Money-Back Rewards on purchases in two categories of your choice. OR Three categories Deposit your Rewards into a Tangerine Savings Account and get a third 2% Money-Back category. 13 Categories to explore – Groceries, gas, and beyond, choose from 13 categories to suit your spending. And change them up every 90 days to match your purchases.◊
- 0.50% on everything else.
- Redeem cash back monthly as a statement credit or deposited into a Tangerine Savings Account.
- No annual fee.
- Transfer balances within your first 30 days and pay only 1.95% interest on the transferred balance for the first six months (22.95% after that). 1% balance transfer fee applies to the amount transferred.
- Get free cards for any authorized users on your account.
- It only includes purchase assurance and extended protection insurance. For more insurance, consider the Tangerine® Money-Back World Mastercard®* which requires a minimum personal income of $60,000. If you meet this requirement, you will automatically be considered for the World card if you apply for the Money-Back card.
- Preferred rates: 20.95% for purchases, 22.95% for cash advances (including balance transfers).
- To be eligible, a $12,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
The Tangerine Money-Back Mastercard has an offer that’s modest but easy to understand and obtain. New cardholders can earn 10% cash back on up to $1,000 in purchases made during the first 60 days, for a maximum bonus of $100.
Other no-fee cards can look more lucrative under a specific redemption, and we’ve debated whether the TD Rewards Visa should take this place instead.
TD offers 30,310 TD Rewards points when you spend $1,500 in 90 days, but the difference in value is closer than one may think.
While Tangerine’s challenger promises $100 cash back, TD’s reward points could be worth more, and in that case, you could earn about $50 extra if you book through their Expedia portal. If you go for something more flexible with the TD option, like an Amazon gift card, it’d only be worth $100 anyway as the conversion rate for an option like that is lower at 0.33 cents per point.
So unless you had specific travel plans that could be unlocked through Expedia, it would usually be better to stick with the more flexible Tangerine card and collect more personalized cash back. This is especially true if you plan on keeping the card long-term as it is a great companion card with its truly flexible earn rates.
Best premium card — American Express Aeroplan Reserve Card
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Points on eligible purchases made directly with Air Canada and Air Canada Vacations.
Points on eligible Dining and Food Delivery purchases in Canada.
Points on on everything else.
This top-shelf Aeroplan card offers 3x points on purchases made with Air Canada — the highest Aeroplan earn rate on the market. Comprehensive insurance coverage, annual companion passes and priority airport services add to the luxe factor, but the hefty $599 annual fee may be more than some cardholders are willing to spend. Best for: Air Canada enthusiasts who want to maximize their Aeroplan point accumulation.
Pros
- Up to 3x points on eligible dollars spent.
- Free Maple Leaf Lounge access, plus a complimentary Priority Pass membership.
- Free checked bags.
- Priority check-in, boarding and baggage handling.
Cons
- Steep $599 annual fee.
- Priority airport services only apply to Air Canada itineraries.
- Pay-per use rates apply to Priority Pass lounges.
- New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points.
- Earn 60,000 Aeroplan points after spending $7,500 in purchases on your Card within the first 3 months
- Plus, earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13
- You could earn up to $4,400 in value within your first 13 months. When you combine the Welcome Bonus offer of up to $1,700 in value, your earn potential in accelerated and everyday spend earn rate categories with approximately $1,760 in value, and the $1,000 in value you get from exceptional benefits, you can earn up to $4,400 or more in value within your first 13 months. Terms and usage assumptions apply.
- Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points. Enjoy even more at over 300,000 hotel properties worldwide
- Receive up to $100 CAD in statement credits every four years when a NEXUS application or renewal fee is charged to your American Express Aeroplan Reserve Card
- Highest Air Canada earn rate on an Aeroplan payment card in Canada: Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*.
- Standard Earn Rate: Earn 2X the points on eligible Dining and Food Delivery purchases in Canada and earn 1.25X the points on everything else.
- Get through the airport quicker with Air Canada Priority Check-In, Air Canada Priority Boarding and Air Canada Priority Baggage Handling.
- Receive one Annual Worldwide Companion Pass when you spend $25,000 in net purchases prior to your Card anniversary date; your Pass entitles you to buy an accompanying Air Canada economy class ticket for a companion at a fixed base fare from $99 to a maximum of $599 CAD (plus taxes, fees, charges, and surcharges)
- Enjoy access to select Air Canada Maple Leaf Lounges™* and Air Canada Café™ in North America for you and a guest, with a same day ticket on a departing Air Canada or Star Alliance flight.
- Enjoy your eligible first checked bag free for up to 9 people travelling on the same reservation on Air Canada flights.
- Get a 10% Head Start. Starting in 2027, eligible Basic Cardmembers with Aeroplan Elite™* Status will receive a 10% head start toward qualification, based on Status Qualifying Credits (SQC) accumulated the year before. Roll over any unallocated unused eUpgrade Credits to the following year to enjoy during your travels
- Get access to more than 1,200 Priority Pass™ airport lounges and enjoy an oasis of comfort before your flight, regardless of your airline or cabin class.
- Amex Experiences™ opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more
- Get more from your travel experience at Toronto Pearson International Airport with:
- Access to Pearson Priority Security Lane
- Complimentary valet service at the Express Park and Daily Park
- 15% discount on parking rates at the Express Park and Daily Park
- 15% discount on Car Care Services
- Insurance Coverage: whether you’re shopping nearby or travelling abroad, you can feel confident knowing you can be taken care of.
- American Express® Aeroplan®* Reserve Card is made from precision cut and engraved 13g metal – it’s the perfect companion on your next exceptional journey
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
The American Express Aeroplan Reserve Card is a points juggernaut, allowing you to rake in up to 60,000 Aeroplan points in the first year alone. With each point being valued at 1.6 cents each, that works out to $960 in value.
Subtracting the annual fee of $599, you will end up with up to $361 in net value.
To claim the bonus, you’ll need to spend $7,500 in your first 3 months of cardmembership.
You can also earn 25,000 points by spending $2,500 in the 13th month, but that only earns a maximum of $400, which falls well short of the annual fee cost.
Where this card really shines is through its numerous perks. These include, but are not limited to:
Air Canada Priority Check-in, boarding, and baggage handling.
Access to Maple Leaf Lounges at select airports, as well as access to over 1,200 Priority Pass lounges.
First free checked bags for up to 9 people travelling on the same airline reservation.
$100 CAD in NEXUS application or renewal fees every 4 years.
Comprehensive insurance coverage.
One extra free night’s stay at a hotel for every 3 nights redeemed.
The perks are the main driver of the high annual fee, so if you can make the most out of all of the perks, you may find long-term value in getting it. Otherwise, it may be better to get a less fancy card with better overall value.
Best for students — BMO CashBack Mastercard for Students
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Cash back on grocery purchases.
Cash back on recurring bill payments.
Cash back on all other purchases.*
This card sports an impressive grocery earn rate of 3% and keeps things simple for student budgets with no annual fee. Beyond cash-back rewards, there aren’t many bells and whistles to speak of, but students seeking budget-friendly simplicity may not mind. Best for: Students who want to earn cash-back where it counts on daily essentials.
Pros
- No annual fee.
- Redeem cash-back rewards of as little as $1 whenever you want.
- Up to 20% off car rentals are National, Alamo and Enterprise.
Cons
- No travel insurance.
- Welcome offer: Get 5% cash back in your first 3 months.*
- Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
- Now earn the highest cash back on groceries in Canada without paying an annual fee!†
- Get cash back every time you spend, plus start building a healthy credit history.
- Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account.*
- No Annual fee.*
- Extended Warranty.*
- Purchase Protection.*
- Receive a discount on car rentals.*
- Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
The BMO CashBack Mastercard for Students pairs a simple, easy-to-understand welcome bonus with strong earn rates, no annual fee and accessible eligibility requirements.
New cardholders earn boosted 5% cash back for the first three billing cycles, up to $125 on $2,500 in purchases. The only things to watch out for are the welcome bonus spending caps.
$500 qualified spend on grocery.
$500 qualified spend in recurring bill payments.
$1,500 qualified spend on all other purchases.
Other than that, there are no points to think about converting or any math to do, making this an mostly anxiety-free option for students who should be worrying about a million other things instead.
To qualify for this student credit card, you must be a student at a recognized post-secondary institution in Canada between the ages of 18 and 24. You also need to prove that you have a source of income, whether it be from a part-time job, student loan, scholarship, or parental allowance. International students can apply in a branch.
The no-fee RBC ION Visa is another accessible option. Its current offer is 14,000 Avion points: 7,000 on approval, and 7,000 after spending $500 in the first three months.
One wrinkle: ION cardholders cannot use RBC’s Air Travel Redemption Schedule. At the card’s standard travel rate, 14,000 points are worth about $81. However, redeeming your points for gift cards will be worth $100.
Best for newcomers — Scotiabank Passport Visa Infinite +*
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Cash back on every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
Cash back on every $1 you spend on gas, daily transit purchases, and food delivery.
Cash back on all other purchases with no cash back limit.
You can earn a lot of cash back with this card if you max out the spending categories — for example, get up to $1,000 back each year when you spend $25,000 on groceries and recurring payments. The catch: Cash back is only deposited into your account once a year, in November, and the $120 annual fee is higher-than-average for a cash-back card. Best for: Big spenders on groceries and gas who don’t mind reaping their rewards annually.
Pros
- High 4% cash-back rate on groceries.
- Comprehensive insurance coverage included.
Cons
- Can only redeem cash back once a year.
- Earn 15% Cash Back on all purchases for the first 3 months (up to $2,000 in total purchases)¹. Plus, get a 0% introductory interest rate on balance transfers for the first 12 months (2% fee per cash advance, 22.99% after that).
- No annual fee in the first year, including on additional cards.¹
- 4% for every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
- 2% for every $1 you spend on gas and daily transit purchases.
- 1% cash back on all other purchases with no cash back limit.
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Comprehensive Travel Insurance & New Mobile Device Insurance coverage
- New 2% Cash Back earn category: You will earn 2% on all eligible purchases of Food Delivery¹.
- Rates, fees and other information are effective as of July 2, 2026. Subject to change.
The Scotiabank Passport Visa Infinite +* card offers newcomers to Canada up to 35,000 Scene+ points in its welcome offer:
25,000 Scene+ points by making at least $2,000 in eligible purchases in your first three months.
10,000 bonus Scene+ points by making at least $10,000 in eligible purchases in your first six months.
A 1 cent per Scene+ point each, the offer is worth up to $350 in value.
Normally, the annual fee is $150, but with a few easy steps, you can have that cut down to $110 by signing up through the Scotiabank StartRight Program. Under the program, you can sign up for the Scotiabank Preferred Package and have the monthly fee waived for the first year. The package comes with a $40 credit card fee waiver.
The $60,000 personal or $100,000 household income requirements will put the card out of reach for some. A no-fee alternative with no stated income requirement is the RBC Cash Back Mastercard. Through the RBC Newcomer Advantage, eligible clients can earn 10% bonus cash back on up to $2,000 in purchases during the first three months, for up to $200 in value.
Best niche welcome bonus — Marriott Bonvoy American Express Card
View details
Points for every dollar in eligible Card purchases at hotels participating in Marriott Bonvoy®.
Points for every $1 in all other Card purchases.*
The Marriott Bonvoy American Express Card helps travellers earn free stays and experiences at some of the world’s ritziest hotels, restaurants and spas. But if you’re not a frequent hotel guest, there’s little reason to get this card. Best for: Marriott Bonvoy loyalists who spend big on hotels.
Pros
- High 2x base rate on all purchases.
- Full suite of travel insurance.
- Ability to convert points to other popular frequent flyer programs.
Cons
- Top 5x earn rate only applies to Marriott Bonvoy purchases.
- Earn up to 110,000 bonus Marriott Bonvoy® points
- New Marriott Bonvoy® American Express®* Cardmembers can earn 80,000 bonus Marriott Bonvoy® Points after you spend $6,000 on your Card in your first 6 months of Cardmembership
- Plus, earn 30,000 points when you make a purchase in your 15th month of Cardmembership.
- Offer ends September 22, 2026.
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score.*
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- Earn 5 points for every dollar in eligible Card purchases at hotels participating in Marriott Bonvoy®.
- Earn 2 points for every $1 in all other Card purchases.
- Receive an Annual Free Night Award for up to 35,000 points at eligible hotels and resorts worldwide every year after your first anniversary.
- No annual fee on Additional Cards.
- Redeem points for free nights with no blackout dates at over 7,000 of the world’s most desired hotels.
- Automatic Marriott Bonvoy Silver Elite status membership.
- Receive 15 Elite Night Credits each calendar year with your Marriott Bonvoy® American Express®* Card. These can be used towards attaining the next level of Elite status in the Marriott Bonvoy program.
- Enjoy an automatic upgrade to Marriott Bonvoy Gold Elite status when you reach $30,000 in purchases on the Card each year or when you combine 10 qualifying paid nights within one calendar year with the 15 Elite Night Credits from your card.
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. Conditions Apply. If you apply and get approved for an American Express Card, NerdWallet may receive compensation from American Express, which can be in the form of monetary payment.
The Marriott Bonvoy American Express Card offers 80,000 Marriott Bonvoy points in the first year. With a value of 0.76 cents per point, this is equivalent to $608.
To claim the bonus, you’ll need to spend $6,000 in your first 6 months of cardmembership.
You can also earn 30,000 points by making a purchase in the 15th month — boosting the overall welcome offer to 110,000 — but that next-year bonus only earns a maximum of $228.
The card carries an annual fee of $120, which gives it a first year value of $588. If you keep the card for a second year, you’ll see a value of $108.
The card is designed with Marriott Bonvoy stays in mind, and it includes other perks like a free night’s stay, Marriott Bonvoy Silver Elite Status and 15 Elite Night credits.
That said, this card is designed for travellers who stay with Marriott as the 3:1 transfer rate decimates the value if you choose to use your points towards flights instead.
More great welcome bonuses in Canada
BACK TO TOP| Card | NerdWallet rating | Intro offer | Apply Now |
|---|---|---|---|
| BMO CashBack® World Elite®* Mastercard®* | APPLY NOW on BMO's website | ||
 APPLY NOW on BMO's website | 5.0/5 | Up to $650 in value | |
| RBC® Cash Back Mastercard‡ | APPLY NOW on RBC's website | ||
 APPLY NOW on RBC's website | 3.9/5 | 7% Cash Back | |
| TD Rewards Visa* Card | APPLY NOW on TD's website | ||
 APPLY NOW on TD's website | 4.2/5 | 30,310 Points | |
Methodology
BACK TO TOPHow did we select credit cards for this roundup?
For this roundup, we focused on first-year value. This was broken down into the value of the welcome bonus, which was then translated into a cash value. We then subtracted the annual fee to get the total first-year value. If a card had a waiver on the annual fee, we deducted it in the calculation.
We did not include any points earned from spending in the welcome bonus period, nor did we add any perks or benefits in the first year like free subscription services.
Factors in our evaluation include:
Welcome offer
Annual fee and annual fee waiver
Welcome bonus target threshold
Card acceptance
How welcome bonuses work in Canada
BACK TO TOPWelcome bonuses, also called sign-up bonuses or intro offers, reward eligible applicants for opening a new credit card. An offer may include:
A large lump sum of rewards points after the first purchase.
Additional points after reaching one or more spending thresholds.
An elevated cash-back rate for a limited period or amount of spending.
An introductory interest rate on balance transfers.
A rebate or waiver of the card's first annual fee.
The offer terms determine who is eligible, which purchases count, how long the account must remain open and when the bonus posts. Card approval does not automatically guarantee offer eligibility.
How to calculate welcome bonus value
Multiply the number of points by the value of each point, then subtract any annual fee charged during the period you are measuring. Use the value of a redemption you would realistically make, not the card’s theoretical maximum.
Take the MBNA Rewards World Elite Mastercard as an example.
Meeting both welcome offer thresholds earns 30,000 MBNA Rewards points, worth up to 1 cent each.
30,000 points × 0.01 = $300 in value.
Subtract the $120 annual fee for a net first-year bonus value of $180.
Minimum spend for big reward point bonuses
Most welcome bonuses have one or more minimum spend thresholds to meet. Examples include:
Making one purchase after you activate a card.
Needing to spend a certain amount within a certain timeframe.
Making a purchase after 12 months of activating the card.
Let’s consider a popular credit card from TD, the TD Aeroplan Visa Infinite card. Its 40,000 Aeroplan point welcome bonus includes:
10,000 points with your first purchase.
15,000 points if you spend $3,000 within 90 days.
15,000 points after spending $12,000 in the first year.
The first target is easy. That’s $160 in instant value (assuming an Aeroplan point is worth 1.6 cents each), even with the purchase of a singular banana.
The second threshold is the more important one. $240 can be had here, but you’ll need to spend 10 times that ($3,000 in three months) in order to get it.
The final 15,000 points require $12,000 in first-year spending. The full 40,000-point offer is worth about $640 at 1.6 cents per point, but the spending is not a reason to buy anything you did not already plan to buy.
Watch for second-year spending milestones
If the final installment posts after the first anniversary, the second annual fee may arrive before the points do. Count that renewal fee when deciding whether the milestone is worth chasing.
For example, 40,000 Aeroplan points are worth about $640 at 1.6 cents each. If earning them requires a $599 renewal, only about $41 of value remains before you count the card’s perks.
Welcome bonuses for cash back credit cards
Cash-back welcome offers usually boost the earn rate for a limited time and cap the amount of spending that qualifies. Some add a fixed bonus for an action, such as setting up a pre-authorized payment.
For example, the CIBC Dividend Visa Infinite currently earns 10% cash back for up to $2,000 within the first four statements, plus $50 for setting up a pre-authorized payment.
That is up to $250 in bonus cash back. The current offer also rebates the $120 annual fee for the first year, so do not subtract it from the $250 bonus first-year value.
Balance transfer offers
A balance-transfer offer lets you move eligible debt to a new card at a lower promotional interest rate for a limited time. It is not a points or cash-back bonus, and the savings depend on your balance and repayment plan.
An introductory balance-transfer rate can save more than a rewards bonus, but it cannot be compared using a simple point valuation.
If your goal is to save money with a balance transfer offer, try our balance transfer calculator to estimate costs, or compare the best balance transfer credit card offers in Canada to find your match.
Welcome bonus eligibility
Repeat-bonus rules vary by issuer and even by card. American Express commonly excludes current and former cardmembers of the same card. Several current TD offers exclude people who opened or closed that specific account within the past 12 months. Aeroplan card offers may also apply restrictions across issuers within the same card category.
Do not rely on reports that another applicant received a repeat bonus, no matter how often you hear, for example, that CIBC tends to be more lenient. The written offer terms govern your eligibility, and issuers may withhold or delete points when they determine that the terms were not met.
Here’s a list of some of the most popular banks’ terms and conditions on repeat offers:
Bank or issuer | Rules |
|---|---|
Current or former cardholders of the same card will not be eligible for the welcome bonus offer. | |
Offers not available to current or former cardholders who reinstate a closed account or open a new account for the same card during the offer period. | |
Offer applies to newly approved card accounts only, and eligibility is lost if you have opened, transferred, or cancelled another card of the same type within the last 12 months. | |
Offers only available to new applications for each card. | |
Offers not available to any previous cardholders of a Scotiabank personal credit card in the past 2 years. | |
Offers are not available to customers who have activated or closed the same type of credit card in the past 12 months. | |
Specifically for Aeroplan-branded credit cards, members may only be granted a maximum of one welcome bonus for each type of Aeroplan card, regardless of issuer. Accounts may also be suspended for suspected churning activity. |
The written terms on the application you are considering are the source of truth, so be sure to read them carefully before signing up for a new card.
How to choose a welcome bonus
A welcome bonus shouldn’t be the sole reason for someone to choose a credit card, but it can be a helpful nudge in the right direction.
Considering things like how the rewards program suits you and the minimum spend are critical in choosing the right card.
Can you actually use the rewards?
Different credit cards have different rewards programs, so the golden rule is to always think about what redemption you can actually use, not the most valuable one available in theory.
50,000 Aeroplan points won’t be useful if you primarily fly WestJet or Porter. And if you don’t travel at all, cash back may be a better option.
You’ll also want to look at what each rewards system offers in terms of transfers. For instance, Amex Membership Rewards can be transferred to several airlines and hotel programs, as well as merchandise. And remember, it’s always important to read up on the different point values for each program to ensure you’re getting the best return for your rewards.
Can you meet the spending requirement without changing your habits (or overspending)?
The minimum spend thresholds are one of the most important things to consider as you won’t be able to earn the points at all if you can’t meet them. Or, in a case that’s just as bad, you may find yourself trying to spend more money than you needed to just to try to earn a few thousand extra points.
Planned expenses can help you reach a threshold, but buying more than you otherwise would defeats the purpose. A $500 bonus is not a win if it prompts $700 of unnecessary spending.
Can you afford the annual fee?
Cards with larger bonuses and richer perks often charge annual fees. Subtract the fee charged during the period you are measuring.
For the RBC Avion Visa Infinite, 55,000 Avion points are worth up to a cool $1,100. This is broken down as:
35,000 points on approval.
20,000 points for spending $5,000 in the first 6 months.
$1,100 in value sounds like a lot, but with an annual fee of $120, you’re losing 11% of it to an annual fee.
Can you get around the annual fee?
One common route is a first-year fee rebate or waiver. For example, the current BMO eclipse Visa Infinite card offer waives its $120 fee for the first year.
Some premium bank accounts rebate the annual fee on an eligible credit card. TD’s All Inclusive Banking Plan can rebate up to $139 each year.
The bank account has its own cost: $30.95 monthly, currently waived with a $6,000 minimum daily balance. Compare that cost and the value of tying up $6,000 with the card-fee rebate.
Is the card worth keeping?
Once the first-year offer ends, compare the card's ongoing rewards and benefits with its annual fee and with the value you could get from a no-fee alternative.
Earning rewards worth slightly more than the fee does not automatically make a card the best choice if another card would produce more net value.
Churning — risk versus reward
Credit card churning means opening cards mainly to earn welcome bonuses, then closing or switching them.
These bonuses can be chained together to collect a massive number of points or cash back, but there are many risks involved. Some of those risks include hard inquiries, a lower average account age, higher credit utilization after account closures, overspending to hit targets, application denials and bonus clawbacks.
Carrying a balance can wipe out the value of a bonus quickly.
Frequently asked questions
Can I get a welcome bonus even if I’ve had the card before?
Sometimes. Repeat-bonus rules vary by card and offer, so read the current terms before applying. Pay special attention if you held the same card, switched products or received a bonus in the same rewards category.
Is it worth getting a card just for the welcome bonus?
It can be, if the card fits your needs and the spending target matches purchases you already planned. A bonus is not worth debt or unnecessary spending.
Can I apply for multiple cards at the same time to take advantage of multiple welcome bonuses?
You can submit more than one application, but approval is not guaranteed. Each application may create a hard inquiry on your credit report, and you need enough normal spending to meet every bonus requirement without carrying a balance.
Do repeated credit card applications hurt my credit score?
Several applications in a short period can temporarily lower your score because each may create a hard inquiry. New accounts can also reduce the average age of your credit history.
I’m unsure whether to keep a card after the first year. Should I?
Compare the card’s ongoing net value with a no-fee alternative. Consider:
How much you’re earning in terms of rewards based on your spending habits.
Your card’s earn rates.
The value of the perks that come with the card.
The annual fee.
Keep the card if its ongoing rewards and perks are worth more to you than the annual fee and it remains a better fit than your alternatives.
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