Best Credit Card Offers in Canada – December 2022 Promotions

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Are you looking for the best current credit card offers in Canada? Then this post is for you.

Most credit card issuers offer rewards in the form of airline miles, travel rewards, or reward points to retain their current customers and attract new ones. 

As a matter of fact, these rewards are the reasons why many people use credit cards to pay for their expenses.

This article covers some of the best current credit card offers in Canada and some factors to always keep in mind when comparing credit card offers.

Let’s get started!


Overview of the Best Credit Card Offers in Canada For 2022

Credit CardOfferAnnual Fee
Neo Financial Credit Card15% cashback$0 
Tangerine Money-Back Credit Card15% extra cash back$0
WestJet RBC World Elite Mastercard450 welcome WestJet dollars $119
SimplyCash Preferred Card from American Express10% cash back$99
HSBC World Elite Mastercard100,000 points plus first-year fee rebate$149
TD Cash Back Visa Infinite Card6% cash back$120
BMO Cash Back Business Mastercard10% cash back$0
TD Aeroplan Visa Infinite Card25,000 Aeroplan points plus$139
Marriott Bonvoy American Express 65,000 bonus points$120
Scotiabank Gold American Express20,000 Scene+ points$120
CIBC Dividend Platinum Visa Card10% cash back$99
American Express Aeroplan Business Reserve Card110,000 points$599

Let’s have a detailed view of each of the above credit cards based on the categories they represent.


Best Credit Card Promotions in Canada For 2022

The following are some of best credit card promotions/offers in Canada across different categories.

Best For Cashback

Cashback credit cards offer some of the highest rewards in Canada. And new clients can earn more than 10x the standard cashback rate with a promotional cashback credit card. The following are the current best cashback credit card promotions in Canada.

1. Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card is one of the Best Current Credit Card
  • Bonus/offer: Apply for this credit card to get extra 15% cash back when you make purchases of up to $1,000 in the first 2 months. Plus 1.95% promotional interest rate balance transfer for the first 6 months.
  • Income requirement: An individual annual income of $12,000
  • Annual fee: $0
  • Offer Expires: December 29, 2022

Apply for the Tangerine Money-Back Credit Card by December 29, 2022 to get 15% cash back when you spend at least $1,000 within the first 2 months. 

In addition to this, you will also get an unlimited 2% cash back on up to 3 spending categories. 

The spending categories include entertainment, gas, restaurants, grocery, home improvement, and public transportation, to name a few. You can redeem your cash back rewards into your savings account or you can apply them to your credit card balance.

You will need an annual $12,000 to be eligible for the Tangerine Money-Back Credit Card. What’s so good about this credit card is that it has no annual fee. 

For extra perks, you may choose the Tangerine World Mastercard with a $0 annual fee and the same welcome bonus as the Money-back card.

But it has a higher income requirement of a combined household income of $100,000 or an individual annual income of $60,000.

Related: Tangerine World Mastercard Review

2. Neo Financial Credit Card

Neo financial card
  • Bonus/offer: 15% cashback
  • Income requirement: N/A
  • Annual fee: $0 to $107.88
  • Offer Expires: N/A

Neo Financial Credit Card is our overall best credit card for cashback promotions in Canada. It offers a 15% promotional cashback for your first purchase without an annual fee. 

After that, the Neo credit card offers an average of 5% cashback for purchases at partner stores with 1% cash back guarantee on other purchases.

Learn more about the card in this detailed Neo Financial Credit Card review.

3. TD Cash Back Visa Infinite Card

TD Cash Back Visa Infinite Card
  • Bonus/offer: Apply for this credit card to receive 10% cash back on the first $2,000 on purchases in the first 90 days of account opening.
  • Income requirement: A personal income of $60,000 or a household income of $100,000
  • Annual fee: $120
  • Offer Expires: September 5, 2022

Individuals who have a personal income of $60,000 or a household income of $100,000 qualify for this credit card. 

Apply for this credit card by the offer expiry date to get 10% cash back after you spend $2,000 on purchases in the first 90 days of account opening. Plus, you can still earn 6% on selected spending categories and pre-authorized payments (up to a cap of $3,500 within the first 3 months) after you reach the limit for 10%.

The best thing about this credit card is that there are no annual fees for the additional and primary cardholders for the first year. 

New cardholders can also get 3% cash back on qualifying gas and grocery purchases and recurring bills. All other categories earn a 1% cash back. 

This credit card has an annual fee of $120, which is rebated for the first year. The first additional cardholder has a fee of $50, but subsequent additional cardholders are free.


Best For Travels

With a travel-friendly credit card offer, you can save a significant portion of your travelling cost with exclusive deals, discounts and special rewards on purchases. The following are some of the Canadian best credit card promotions for travel.

4. TD Aeroplan Visa Infinite Card 

Best Current Credit Card for travels in Canada
  • Bonus/offer: Get up to $1,400 in total bonus value including up to 50,000 Aeroplan points and annual fee rebate for the first year
  • Income requirement: An individual income of $60,000 and a household income of $100,000
  • Annual fee: $139
  • Offer Expires: September 5, 2022

You will need an individual income of $60,000 and a household income of $100,000 to qualify for this credit card. Apply for this card by the offer expiry date to get up to 50,000 Aeroplan points. 

The TD Aeroplan Visa Infinite gives you a bonus:

  • 10,000 Aeroplan points when you make your first purchase with the credit card.
  • An extra 20,000 Aeroplan points is awarded when you spend at least $1,500 within your 90 days of membership and
  • Extra 20,000 points for spending $7,500 within the first 12 months.

You can transfer Aeroplan points to another member or donate them to participating charities. Credit cardholders can redeem Aeroplan Points for vacation packages, travel rewards, car rentals, and hotel stays.

5. Scotiabank Gold American Express

Best Current Credit Card for travels in Canada
  • Bonus/offer: Get 25,000 Scene+ points after you spend $1,000 on purchases within the first 90 days of opening the account, and 20,000 Scene+ points after you spend $7,500 on daily purchases in your first year. 
  • Income requirement: An annual income of $12,000
  • Annual fee: $120
  • Offer Expires: October 31, 2022

If you like travelling and spend a lot on your card, then Scotiabank Gold American Express is ideal for you. 

This credit card is one of the top travel credit cards in Canada because it has an excellent sign-up bonus and earning rate. 

With this credit card, new cardholders will get 20,000 Scene+ points after they spend $1,000 on purchases in the first 90 days of opening the account. Plus, they will receive 20,000 Scene+ points after they spend $7,500 on daily purchases in their first year. 

The value of the Scotiabank Gold American Express offer is worth $400

You will also get 5 Scene+ points for every $1 you spend on entertainment, dining, and grocery and 3 Scene+ points for each $1 you spend on rideshares, public transportation, and gas.

And you will receive 1 Scene+ point on all your other purchases. The card has an annual fee of $120, which is waived for the first year. 

The best thing about this credit card is that it does not charge foreign transaction fees. You can redeem credit card points for gift cards, merchandise, and travel. 

6. WestJet RBC World Elite Mastercard

WestJet RBC World Elite Mastercard
  • Bonus/offer: 450 welcome WestJet dollars within the first three months of card holding
  • Income requirement: A household income of $150,000 or an individual income of $80,000
  • Annual fee: $119
  • Offer Expires: N/A

You will need a household income of $150,000 or an individual income of $80,000 to be eligible for this credit card. 

What makes this credit card a winner is the companion voucher, which allows you to get a round-trip ticket for a travel companion on the same flight as you. 

Other than that, cardholders receive 2% cash back on vacation packages or flights. And you receive 1.5% cash back on your other purchases. In addition to this, you also get free Boingo Wi-Fi access worldwide. 

This credit card offers access to several airport lounges.


Best For Business

Offsetting your business’ everyday purchases will help you maximize your overall profits. This is exactly what a business promotional credit card helps you achieve. The following are the current best promotional business credit cards to choose from.

7. BMO Cash Back Business Mastercard

BMO Cash Back Business Mastercard
  • Bonus/offer: 10% cash back on eligible purchases
  • Income requirement: Not applicable
  • Annual fee: $0
  • Offer Expires: December 6, 2022

The BMO CashBack Business Mastercard is perfect for individuals who want a business credit card that offers rewards.

It allows you to get 1.75% cash back at participating Shell gas locations and 1.5% cash back on eligible office supplies and gas station purchases. All other purchases made using the BMO CashBack Business Mastercard would earn you 0.75% cash back. 

This credit card has no annual fees. As a welcome offer, you will get 10% cash back on eligible mobile phone bills, office supplies, and gas for the first 90 days when you spend a minimum of $1,500 – a $150 cash value.

8. American Express Aeroplan Business Reserve Card

  • Bonus/offer: Up to 110,000 points in your first year plus 
  • Income requirement: N/A
  • Annual fee: $599
  • Offer Expires: N/A

The American Express Aeroplan Business Reserve Card distinguishes itself in the competition with a low-interest rate on purchase (16.99%) in addition to competitive promos.

You can earn up to 110,000 in your first year with this card by performing the following tasks: 

  • Spend 7,000 in the first three months of card holding = 90,000 bonus points 
  • Make eligible purchases in your first six months of card holding = 20,000 points

When the promotion expires, you will earn the following points: 

  • 2 points on hotel and car rental spending.
  • 10x points Air Canada and Air Canada Vacations related spending.
  • 1.25x points for travel, gas and dining eligible expenses.

In addition, you will enjoy comprehensive insurance on business, travel, and purchase coverage. 

Learn about the best business credit cards in Canada here.


Best For Hotel Stays

If you spend frequently on hotel bills, you need a hotel-friendly credit card offer to offset some of those costs and enjoy special perks. 

Unfortunately, this type of credit card offer is limited in Canada. However, you can’t make the wrong choice with the following option.

9. Marriott Bonvoy American Express

Marriott Bonvoy American Express
  • Bonus/offer: Get 65,000 bonus points after you spend $1500 on purchases in the first three months of account opening.
  • Income requirement: N/A
  • Annual fee: $120
  • Offer Expires: September 20, 2022

With this credit card, you can get 65,000 bonus points after you spend $1,500 on purchases within the first three months of account opening.  

Apart from this, you will also get 5x points for every $1 you spend on eligible gas and travel purchases in Canada for the first 90 days of account opening.

This credit card has an annual fee of $120 for the primary cardholder but $0 for additional cards.


Best For Groceries and Everyday Purchases

Do you make frequent grocery and everyday purchases? You can offset a significant portion of your expenses with the perfect promotional credit card. 

The following are the current best credit card offers for groceries and everyday purchases in Canada.

10. CIBC Dividend Platinum Visa Card

Best Current Credit Card For Groceries and Everyday Purchases
  • Bonus/offer: Up to $320 in value. Earn 10% cash back when you spend $2,500 on purchases in the first four months.
  • Income requirement: A minimum yearly income of $15,000 (household)
  • Annual fee: $99
  • Offer Expires: N/A

This credit card is a great choice for people who spend a lot on groceries and gas. You should have a minimum yearly household income of $15,000 to qualify for this credit card. 

With this credit card, you will earn 10% cash back when you spend $2,000 on purchases in the first four months. 

Additionally, you receive 2% cash back on purchases such as dining and transportation and 3% cash back on purchases like grocery and gas. The card has a yearly fee of $99, which is rebated for the first year. 

11. SimplyCash Preferred Card from American Express

SimplyCash Preferred Card from American Express
  • Bonus/offer: Get 10% cash back (up to $400) on purchases for the first four months of account opening.
  • Income requirement: Not applicable
  • Annual fee: $99
  • Offer expires: N/A

This credit card from American Express offers great value. It offers you 10% cash back on purchases for the first four months of account opening, up to $4,000 in purchases or $400 in bonus.

What’s more, you can add 9 authorized users to your credit card for free. 

The SimplyCash Preferred Card has an fees of $99. The fee will increase to $119.88 effective October 12, 2022.

Credit cardholders can get a referral bonus if they refer any relatives or family to this card. They also receive a bonus of $100 for each approved referral, up to $1,500 in total referral bonus per year.

SimplyCard Preferred cardholders get 2% cash back on all their purchases after the end of the welcome offer. 

The best part is there is no limit on how much you can earn. And the cash back can be redeemed yearly.

12. HSBC World Elite Mastercard

Best Current Credit Card For Groceries and Everyday Purchases
  • Bonus/offer: Get up to 80,000 points and a fee rebate for the annual fee for the first year.
  • Income requirement: A minimum individual income of $80,000 or a household income of $150,000 or $400,000 valued assets.
  • Annual fee: $149
  • Offer Expires: October 31, 2022

To be eligible for the HSBC World Elite Mastercard, you need to have a minimum individual income of $80,000 or a household income of $150,000 or$400,000 valued assets.

This credit card has a very attractive welcome offer for new cardholders. Apply for this card by the offer expiry date to get up to 80,000 points ($400 value) and a full rebate of the first year’s annual fee. 

The card has an annual fee of $149 and $50 for extra authorized users added. 

It allows you to get 3 points for every $1 you spend on other eligible purchases and 6 points for every $1 you spend on qualifying travel purchases. 

Quebec residents can earn up to 110,000 points, a $550 value.


Important Things to Remember When Comparing Credit Card Offers

1. Do not presume that credit cards with no yearly fees are always good

Some credit cards do not have yearly fees, while other credit cards do. However, opting for the inexpensive option is not always better. 

Granted, some credit cards’ annual fees are costlier than what they offer, while others offer perks and rewards whose value surpasses the cost of the yearly fee. 

Opt for a credit card with a yearly fee of $0 if you don’t use your credit card frequently or enough to fully take advantage of all the perks and benefits of cards with annual fees.

2. Always compare credit cards before applying

You should take your time to do a comparison of credit cards. And do not accept the first credit card offer that comes your way. 

Comparing credit cards is vital because it helps you decide on which credit card is best for your needs. 

Interest rates are one of the most important factors to consider when looking to get a credit card. Some credit card issuers will entice new clients with a low introductory fee.

But, it is important for you to understand that these introductory interest rates are limited-time offers. 

So, consider the interest rate that’ll apply after the promotional period in deciding if the card is the best one for you.

Apart from interest rates, you should also take into account cash advance fees, balance transfers fees, and annual fees. 

3. Check your credit score before comparing credit cards

Your credit score is crucial in determining which credit cards you are eligible for. It’s worth knowing that most rewards credit cards require excellent or good credit to be approved. However, there are also credit cards for individuals who have fair credit or no credit history.

4. Compare card features and terms that are applicable to you

Don’t get obsessed with terms and features that are not important to you. Instead, give importance to those terms and features that are relevant to you, such as points, bonuses, credit score requirements, annual percentage rates, and annual fees. 


What is a Credit Card Welcome Offer?

As the name implies, credit card welcome offers are temporary bonuses, rates or fees provided to new cardholders by the card issuer.

Also known as credit card promotions, credit card offers aim to entice potential users and give new users a great first-time impression.

Credit cards welcome offers often come in the form of special rewards or low-interest rates on purchase and cash advance. Some credit card providers also waive the first-year annual fee as part of their welcome offer.  

Since different credit cards have different terms and conditions, credit cards welcome offer requirements vary as well. 

While some credit cards don’t have any requirements, others require you to meet certain conditions to qualify. The common requirements for qualifying for some credit card offers in Canada include:

  • Making initial purchase
  • Spending up to a given amount within a period
  • Making purchases in specific categories

Regardless of the conditions, the welcome offer usually expires within a short time, often a few months or up to a year in some cases. 


What is the Value of Your Credit Card Offer?

Your card terms and conditions contain the welcome offer. Usually the worth or your credit offer depends on the type and rate of your card’s reward.

For example, if you use a cash back credit card with a 2% reward on every purchase, you will earn $100 worth of cashback on every $5,000 spent. 

If the offer lasts for two months and you make $100,000 purchases within the period, you will earn up to $2,000 worth of cashback. 

But usually, the cash back is capped at a specific amount. E.g. the 2% cash back may only apply to the first $20,000 purchases.


Types of Credit Card Offers 

The following are the common types of the credit card offers in Canada:

1. Reward Bonuses

In Canada, reward bonuses are more popular than any other type of welcome offer. They are extra bonuses on top of the standard reward program of your credit card. 

Usually, reward bonuses are more than the standard reward structure, making it easier to maximize your earnings within your first year of membership.

Reward bonuses could be in the form of cashback, travel points or AIR Miles. While some card providers require you to meet a given requirement to qualify, others don’t have any requirements. 

2. Introductory Rates

Introductory rates reduce the standard rates of your credit card for a temporary period. They are usually in the form of low-interest rates on:

  • Purchases
  • Cash advances
  • Balance transfers

There are credit cards in Canada that offer both reward bonuses and introductory rates. Using any of those cards will help you save more while maximizing your reward in the first year. 

3. Fee Rebates

With these offers, the credit card issuer usually waives the first-year annual fee for new cardholders. This could be worth hundreds of dollars depending on the credit card. 

While there are many credit cards with no fee in Canada, sometimes those with annual fees have exclusive benefits and luxury perks that make the fees worth it. 

By waiving the first-year fee for you, you get to enjoy these exclusive benefits at no cost. 


Verdict on the Best Credit Card Offers in Canada

The credit card offers help boost your earnings and save you cost within the first few months or year of your membership. 

By comparing the best credit card offers, you can earn and save more on your purchases and pay lower interest on your balances.

Hopefully, now you know the current credit card offers in Canada and how to choose the perfect one for your needs. 

If you need more help, please leave a comment below.

That brings us to the end of this review. Kindly explore our existing blog posts to learn more about the best financial products and services in Canada.

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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