Canada’s 31 Finest Credit score Card Gives for February 2023

If you happen to’re out there for a brand new bank card, it’s vital to think about the welcome bonus that the bank card is providing. It is a one-time incentive to encourage you to use for the cardboard, solely obtainable in your first yr with the cardboard.

The signup bonus is a giant a part of the worth you’ll get from a brand new bank card, above and past its core options, a minimum of within the first yr. Typically the signup bonus will affect your choice to use, maybe much more strongly than the cardboard’s different qualities.

Listed below are the very best bank card presents in Canada for February 2023.

What’s Taking place This Month?

To kick off the brand new yr, we noticed the extension of all-time-high presents on some bank cards and an intriguing provide seem to spice up your Bonvoy steadiness. Right here’s a abstract of a few of this month’s highlights, together with elevated bonuses and key deadlines to pay attention to:

• The elevated presents on RBC’s Avion cards had been as soon as once more prolonged, this time to April 30, 2023. That is nice information for anybody who hasn’t taken benefit of the presents but.
• HSBC applied modifications to its flagship HSBC World Elite Mastercard. The incomes charge now has two class bonuses, the bottom charge has dropped, and there have been enhancements to the insurance coverage protection. The present signup bonus expires on February 28, 2023.
• A brief sturdy provide for the Marriott Bonvoy American Categorical Card debuted, albeit paired with the next minimal spending requirement. The provide is accessible till February 28, 2023.
• The record-high provide on the Nationwide Financial institution World Elite Mastercard was prolonged to June 30, 2023.

Methodology

This record is an opinionated rating of the very best bank card presents in Canada, primarily based on a number of key components that we use to evaluate the appeal of a signup bonus.

At the beginning, we have a look at the web worth you possibly can anticipate to earn once you apply for the cardboard. That is the worth of any first-year bonuses, rebates, and offers, minus annual charges. Rewards factors are adjusted to a money worth primarily based on our Points Valuations.

Subsequent, we think about how straightforward it’s to earn the welcome bonus. Playing cards might get a lift for a low spending requirement, or a protracted timeline to satisfy the spending threshold to qualify for the bonus. In the meantime, they could get dinged for a excessive spending requirement, service provider class spending necessities, or drawn-out recurring month-to-month necessities.

All else being equal, we want playing cards with low annual charges. Any card with a first-year annual payment waiver, providing a bonus above a sure worth, is a candidate for this record. Nonetheless, the full first-year worth of the provide is a much bigger issue, as you possibly can earn factors sooner and nonetheless come out forward by paying excessive annual charges for playing cards with bigger signup bonuses.

Lastly, we might give a card a slight increase if its provide is considerably higher than traditional, or if we just like the long-term options of the cardboard. Nonetheless, this record is usually decided by what you possibly can acquire within the first yr with a brand new bank card, in comparison with different offers obtainable now.

TD Aeroplan Visa Infinite Privilege Card

TD’s premium Aeroplan card is providing the strongest bonus in Canada proper now.

As a plus, there’s no month-to-month requirement to maintain observe of. As a substitute, the full required spending is sort of excessive, at $12,000, however that is mitigated by the truth that you might have a full yr to satisfy this threshold. Moreover, due to the way in which the spending requirement is structured, you’ll obtain a giant batch of factors earlier than you’ve hit the total $12,000.

Between an all-time excessive factors complete and a comparatively easy spending requirement, now can be a superb time to use for this card.

Enterprise Platinum Card from American Categorical

Not surprisingly, the Enterprise Platinum Card from American Categorical is among the many cream of the crop.

Whereas this premium Amex card comes with a excessive annual payment, it’s properly price it, as it is going to simply be offset by the worth of the big signup bonus. Plus, you could even discover long-term worth in preserving the cardboard due to its best-in-class perks, together with in depth lounge access, complete travel insurance, and beneficiant refer-a-friend bonuses.

The provide continues to be wonderful despite coming down from its current all-time excessive. If you happen to’re trying to rack up factors shortly, it’s undoubtedly an excellent place to start out.

American Categorical Aeroplan Enterprise Reserve Card

The enterprise variant of Amex’s premium Aeroplan card is definitely providing the next first-year worth than the Enterprise Platinum Card.

Nonetheless, the up-front chunk of factors is decrease. You’ll should maintain month-to-month spending for a full yr to unlock the total worth of the welcome bonus.

If that fits your wants, this card can be a superb selection. If not, although, the full factors you’d earn is likely to be decrease, and a premium private card can be a greater match.

American Categorical Enterprise Gold Rewards Card

The American Categorical Enterprise Gold Rewards Card can also be providing a really sturdy bonus, and it comes with a smaller $199 annual payment. At 75,000 Membership Rewards factors, this provide is the usual high-water mark for this card.

It’s easy to earn the bonus, with a spending requirement of $5,000 in three months on any class of purchases. With the presents on different Amex playing cards coming down whereas the Enterprise Gold stays excessive, now can be a great time so as to add this one to your assortment.

American Categorical Aeroplan Reserve Card

The American Categorical Aeroplan Reserve Card presents an identical complete bonus because the Enterprise Platinum Card. Nonetheless, with a month-to-month spending requirement, you do should be sure to hit the brink in every of the primary six months to realize the total bonus.

With the welcome bonuses separated by a hair, the choice between a premium Aeroplan card or a Platinum card will possible come right down to your choice for all-around journey advantages or staunch Air Canada loyalty.

American Categorical Enterprise Edge Card

With a low annual payment of $99, this card is an efficient possibility when you’re trying to rack up factors at a low price.

Nonetheless, you’ll face the identical $5,000 spending requirement because the Enterprise Gold Rewards Card, however with a smaller welcome bonus.

Notice that you just’ll must maintain spending of $3,000 per 30 days to earn the ultimate 12,000 MR factors, a prospect which I’d advocate forgoing in favour of higher methods to earn factors on different playing cards.

American Categorical Cobalt Card

The American Categorical Cobalt Card is a favorite for on a regular basis incomes, with an unbeatable 5x charge on groceries and eating places. The cardboard is arguably extra enticing for its keeper enchantment than it’s for its signup bonus.

Nonetheless, the worth of the welcome provide is price making use of for, even with a baseline welcome bonus. There’s by no means a nasty time so as to add a Cobalt Card to your rotation.

American Categorical Aeroplan Card

The American Categorical Aeroplan Card is one more mid-tier Amex with a decent welcome bonus.

Regardless of its decrease annual payment, there’s a modest month-to-month spending requirement, which can be a minor trouble to trace for restricted acquire. Whereas the worth of the provide is sort of sturdy, I’d sooner select an MR card to earn factors in a extra easy method, or a premium Aeroplan card for higher advantages.

American Categorical Platinum Card

The non-public Platinum Card is providing an honest welcome bonus, at a complete of 85,000 Membership Rewards factors.

Nonetheless, a giant chunk of these factors are earned within the second yr. With a premium annual payment (which you’d should pay twice) and a excessive spending requirement, there are different premium playing cards that can get you extra mileage on your efforts.

TD Aeroplan Visa Infinite Card

The TD Aeroplan Visa Infinite Card is routinely one among our favorite mid-tier Aeroplan playing cards.

Like its premium counterpart, it’s at the moment providing a excessive factors bonus. Whereas the spending requirement is excessive, it’s additionally unfold out over a full yr, so you should not have any bother reaching it.

RBC Avion Visa Infinite (Prolonged)

Departing now from the Aeroplan ecosystem, the RBC Avion playing cards are all providing elevated bonuses proper now.

You’ll be able to earn 55,000 Avion factors upon spending $5,000 within the first six months. That’s by far the very best bonus we’ve ever seen on the cardboard. Whereas the spending requirement is excessive, you’ll have a protracted timeframe to satisfy it.

When you’ll earn extra factors extra shortly with Amex playing cards and Aeroplan factors, RBC Avion playing cards are a good way to broaden into the Oneworld airline alliance. You should utilize your Avion factors to complement your Amex MR switch to British Airways Avios or Cathay Pacific Asia Miles, or for the distinctive capacity to transform to American AAdvantage miles.

The provide for this card has been prolonged to April 30, 2023.

RBC Avion Visa Platinum (Prolonged)

In case your earnings doesn’t qualify for the RBC Avion Visa Infinite, you can too apply for the RBC Avion Visa Platinum, with the identical provide and perks.

The provide for this card has been prolonged to April 30, 2023.

CIBC Aeroplan Visa Infinite Card

The CIBC Aeroplan Visa Infinite Card has rejoined the ranks as one among our favorite mid-tier Aeroplan playing cards.

It’s at the moment providing a excessive factors bonus, with a really low spending requirement.

Additionally, the cardboard is providing a first-year annual payment waiver, a standard and in style characteristic of its welcome bonus.

American Categorical Gold Rewards Card

Just like the Platinum Card, the Gold Card’s bonus provide is unfold throughout the primary two years with the cardboard.

As you’ll have to attend to get the total quantity of factors marketed, and also you’ll should pay a second annual payment for the privilege, the worth of this provide isn’t so clear.

RBC Avion Visa Infinite Privilege (Prolonged)

Like its junior counterparts, RBC’s top-tier Avion card is providing 55,000 Avion factors upon spending $5,000 within the first six months.

This card is knocked down the record for providing the identical variety of factors at the next annual payment. It’s nonetheless a really sturdy worth proposition despite the elevated prices, nevertheless it wouldn’t be my first selection for an Avion card presently.

The provide for this card has been prolonged to April 30, 2023.

TD First Class Journey Visa Infinite Card

TD’s in-house rewards playing cards make for an excellent stat-padder once you’re in search of basic journey worth, exterior of airline or lodge loyalty applications.

After a current refresh, the TD First Class Journey Visa Infinite Card is flaunting an all-time excessive welcome bonus, price 135,000 TD Rewards points within the first yr. That’s price a set worth of as much as $675 in the direction of any journey reserving by way of Expedia for TD. Keep in mind that the spending requirement is sort of a bit increased than earlier than, at $5,000 spent within the first six months.

Plus, you’ll now get a $100 annual journey credit score, which fits a protracted option to enhancing the worth proposition on the cardboard, whether or not within the first yr or long-term.

CIBC Aeroplan Visa Infinite Privilege Card

CIBC’s top-tier Aeroplan card is providing an interesting bonus, with 60,000 factors achievable for spending an affordable $3,000 within the first 4 months.

This alone is sort of good worth for the annual payment, and a excessive one at that. If you happen to do resolve to maintain the cardboard long-term for its premium advantages, there’s a second-year factors bonus which is sufficient to offset your second annual payment.

RBC British Airways Visa Infinite (Ending Quickly!)

RBC has additionally boosted the provide on its British Airways co-branded card. Whereas the worth is sort of sturdy, the spending requirement is increased and on a shorter timeframe than the Avion playing cards.

Additionally, Avios are more durable to make use of and extra restrictive than Avion factors. As Avion may be transferred 1:1 to Avios, I’d all the time go for flexibility first, and solely apply for the extra restricted card after exhausting different choices.

Apply earlier than February 28, 2023 to be eligible for the elevated provide.

HSBC World Elite Mastercard (Ending Quickly!)

The HSBC World Elite Mastercard is an efficient possibility, even when its signup provide is decrease.

At present it’s providing 80,000 factors, however solely 60,000 are awarded within the first yr. Sadly this appears to be changing into the norm, and fortunately the $100 annual journey credit score and a few new banking rebates make it price it to maintain the cardboard till you’ve earned the total bonus.

As a substitute, it’s one among our favorite keeper playing cards. It’s one of many few bank cards in Canada with no foreign transaction fees, options the aforementioned annual travel credit, and HSBC Rewards are the one Canadian financial institution program to switch to Singapore KrisFlyer.

Apply earlier than February 28, 2023 to be eligible for this provide.

CIBC Aeroplan Visa Enterprise Card

CIBC’s Aeroplan enterprise card is a story of two presents: an achievable portion up-front for good worth, adopted by an extreme spending requirement for a meagre prize.

For the primary half alone, the cardboard has a first-year annual payment waiver and an affordable spending requirement. Even with out contemplating the long-term spending threshold, you can do so much worse for a brand new enterprise bank card.

TD Aeroplan Visa Enterprise Card

Equally, TD’s provide on its Aeroplan enterprise card is excessive on paper, however with an inconvenient month-to-month spending requirement.

You’ll be able to earn the primary 30,000 factors upon spending $5,000 within the first three months. For the remaining 30,000 factors, you’d should maintain $2,500 spent every month for a full yr.

For a situational spender in search of to optimize signup bonuses, there are different simpler methods to earn Aeroplan factors.

CIBC Aventura Visa Infinite Card

The CIBC Aventura Visa Infinite Card is providing a excessive bonus proper now, with 40,000 factors obtainable upon spending $1,000.

Whereas Aventura factors aren’t essentially the most tantalizing forex, there’s at the moment a promotion to redeem against any travel expense at an elevated valuation of 1.25 cents per level.

Get this card and redeem the bonus towards journey bills which can be in any other case tough to make use of factors for, corresponding to impartial resorts, cruises, and automotive leases.

CIBC Aventura Gold Visa Card

The Gold model is equivalent to the above, with a decrease earnings requirement. You should not have any bother capitalizing on both provide, if not each.

Marriott Bonvoy American Categorical Card (Ending Quickly!)

The Marriott Bonvoy private card is at the moment providing an elevated welcome bonus of as much as 80,000 Bonvoy factors. The lion’s share of the factors, 65,000, are awarded after spending $5,000 within the first three months, and the remaining 15,000 come within the second yr.

It’s price noting that the upper welcome bonus comes with a higher spending requirement in comparison with referral or public presents. In comparison with the general public provide, you’ll should spend $3,500 extra to earn an additional 15,000 factors, and for the referral provide, you’ll should spend $2,000 extra to earn an additional 10,000 factors.

Nonetheless, the cardboard struggles to rank increased as a result of middling value of the Bonvoy program. It’s getting more durable to extract the total worth of the factors except you might have a selected redemption in thoughts.

Your finest wager is to maximise the welcome bonus after which burn the factors on a priceless redemption as shortly as doable.

Apply earlier than February 28, 2023 to be eligible for the elevated provide.

Nationwide Financial institution World Elite Mastercard (Prolonged)

Nationwide Financial institution is providing an elevated signup bonus on its flagship Mastercard, as much as 70,000 factors.

Whereas virtually half of the bonus requires excessive spending over the primary yr, the cardboard’s new 5x earn charge on groceries and eating places ought to make it extra interesting as a each day driver.

Plus, you could discover worth in preserving the cardboard long-term, with versatile annual journey credit score that offsets the annual payment and a few of the finest insurance coverage obtainable in Canada.

The provide has been prolonged to June 30, 2023. 

Scotiabank Gold American Categorical Card

Just like the Cobalt Card, the Scotiabank Gold American Categorical Card is understood extra for its keeper prowess than for its signup presents. You’ll earn 5x factors on groceries and eating places, or 6x points at Empire grocery stores.

The welcome bonus is strong, at the moment providing 25,000 Scene+ factors with low spending, or a complete of 45,000 factors with increased spending. The primary yr annual payment waiver can also be a pleasant perk.

As these factors are usually not transferable to loyalty applications and are solely good for basic journey bills at fastened worth, the Cobalt Card is a a lot better first selection. Likewise, although, there’s by no means a nasty time to get this card.

RBC Avion Visa Infinite Enterprise

The RBC Avion Visa Infinite Enterprise card has an elevated bonus proper now, good for 35,000 Avion factors.

As a giant plus, the cardboard has no spending requirement. With an affordable annual payment for a high-end enterprise bank card, it’s a priceless option to increase your Avion steadiness.

You’ll possible must have a registered business with documentation to be permitted for an RBC enterprise bank card.

Marriott Bonvoy Enterprise American Categorical Card

The enterprise variant of Amex’s Bonvoy playing cards takes a little bit of successful in comparison with the non-public card, with a decrease signup bonus and no bonus element on groceries and a barely increased annual payment in addition.

RBC Cathay Pacific Visa Platinum

A secondary precedence, the RBC Cathay Pacific Visa Platinum presents good worth on paper. Nonetheless, it’s extra of a distinct segment card, with increased spending necessities and a decrease signup bonus than the RBC Avion playing cards, which might be a extra environment friendly option to earn in the direction of your Asia Miles targets.

TD Enterprise Journey Visa Card

As you proceed to amass TD Rewards points, the TD Enterprise Journey Visa Card is an efficient selection when the provide is comparatively sturdy.

Proper now, the provide is damaged down into two components: the primary bonus upon spending $5,000, and a second element upon spending $5,000 every month.

Assuming you ignore the second half, the preliminary factors are price $450, a worthwhile endeavour for the spend when you’re out of higher choices.

TD Aeroplan Visa Platinum Card

With a signup bonus of 20,000 Aeroplan factors, no first-year annual payment, and a low earnings requirement, this card is among the higher methods for learners early of their credit score journey to start accumulating significant sums of Aeroplan factors.

If you happen to’re simply getting your ft moist with excessive annual charges, and may’t be permitted for higher-income playing cards, this card is pretty much as good a place to begin as they arrive.

Conclusion

We hope that this record will assist information you as you choose your subsequent card utility, with an emphasis on the worth of the signup bonus.

Be at liberty to view all credit cards to kind and filter by your personal standards as you examine different choices. You too can e book a Points Consulting name with the Prince of Journey staff when you’d like some customized recommendation.