The best credit card promotions in Canada for November 2023


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MoneySense is an award-winning journal, serving to Canadians navigate cash issues since 1999. Our editorial workforce of educated journalists works carefully with main private finance specialists in Canada. That will help you discover the most effective monetary merchandise, we evaluate the choices from over 12 main establishments, together with banks, credit score unions and card issuers. Be taught extra about our promoting and trusted companions.

One of the best bank card promotions in additional element

Bank card promotions or bonuses are not often the only real purpose to enroll in a particular card, however the suitable provide can positively sweeten the pot. Whether or not you’re searching for money again, a jump-start on journey rewards or deep financial savings in your bank card debt, likelihood is there’s a promotion to fit your wants. Learn on for a few of our high picks and to study extra about how one can get essentially the most out of those time-limited presents.

High choices for every type of spenders

Bank card promotions are continually altering, so it’s at all times good observe to survey the scene earlier than making an software. To get you began, listed below are some current excellent presents which have captured our consideration.


Finest money again card promotions

Money is essentially the most versatile reward round, so discovering a sturdy money again promotion is prone to attraction to any type of spender. These trying to put a refund into their wallets will wish to think about the next bank card promotions.

TD Money Again Visa Infinite*

  • Welcome provide: You may earn as much as $500 in worth, together with 10% in Money Again {Dollars} within the first 3 months on Bonus Eligible Purchases as much as a complete spend of $3,500. Situations apply. Account should be accredited by March 4, 2024.
  • Annual charge: $139 (rebated for the primary 12 months—situations apply to qualify.)
  • Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers
  • Common earn fee: 3% in money again on groceries, gasoline, and recurring invoice funds; 1% again on every little thing else
  • Extra perks: Journey medical insurance coverage, delayed and misplaced baggage protection, and emergency journey help; auto rental collision protection; as much as $1,000 in cell gadget insurance coverage; complimentary membership within the Deluxe TD Auto Membership; Visa Infinite perks
  • Annual earnings requirement: Private earnings of $60,000 or family earnings of $100,000

Tangerine Cash-Again Mastercard*

  • Welcome provide: You may earn an additional 10% again on as much as $1,000 in on a regular basis purchases throughout the first 2 months. Should apply by October thirty first, 2023.
  • Annual charge: $0
  • Rates of interest: 19.95% on purchases, 19.95% on money advances, 19.95% on stability transfers
  • Common earn fee: 2% money again in as much as 3 spending classes and 0.5% on every little thing else
  • Extra perks: Prolonged guarantee and buy safety
  • Annual earnings requirement: $12,000

Finest journey card promotions

Frequent travellers can money in big-time by benefiting from travel-related bank card promotions. Listed below are a couple of of the most effective on provide. 

MBNA Rewards Platinum Plus Mastercard*

  • Welcome provide: You may earn 10,000 bonus factors ($50 in money again worth)
  • Annual charge: $0
  • Rates of interest: 19.99% on purchases, 24.99% on money advances, 22.99% on stability transfers
  • Common earn fee: 2 factors per $1 spent on eligible gasoline, groceries and restaurant purchases and 1 level per $1 on all different purchases
  • Extra perks: Financial savings with Avis and Price range Lease A Automotive; buy assurance and prolonged guarantee
  • Annual earnings requirement: None

TD First Class Journey Visa Infinite*

TD First class Travel Visa Infinite
  • Welcome provide: earn as much as 115,000 TD Rewards factors. Situations apply. Account should be accredited by January 3, 2024. Plus, get an annual birthday bonus of 10% of your earlier 12 months’s factors (as much as 10,000 factors).
  • Annual charge: $139 (annual charge rebate—situations apply to qualify)
  • Rates of interest: 20.99% on purchases, 22.99% money advances, 22.99% on stability transfers
  • Common earn fee: 8 TD factors per $1 spent once you guide journey by way of Expedia For TD; 6 Factors per $1 on groceries & eating places; 4 factors per $1 spent on recurring payments; 2 factors per $1 spent on every little thing else
  • Extra perks: Journey medical and journey accident insurance coverage, journey cancellation and interruption protection, delayed and misplaced baggage safety; as much as $1,000 in cell gadget insurance coverage; auto rental loss and harm safety, financial savings with Avis and Price range Lease A Automotive
  • Annual earnings requirement: Private earnings of $60,000 or family earnings of $100,000

BMO Air Miles World Elite Mastercard*

  • Welcome provide: You may earn 3,000 AIR MILES Bonus Miles and we’ll waive the $120 annual charge for the primary 12 months.
  • Annual charge: $120 (waived for the primary 12 months)
  • Rates of interest: 20.99% on purchases, 23.99% on money advances, 22.99% on stability transfers
  • Common earn fee: 1 Mile for each $12 spent, thrice the rewards at Air Miles companions and two occasions at eligible grocery shops
  • Extra perks: Complimentary membership in Mastercard Journey Go offered by DragonPass, unique 25% low cost on one worldwide Air Miles flight redemption throughout the calendar 12 months, 15% flight low cost on all Air Miles flights in North America; 2 occasions the miles at Nationwide and Alamo automotive rental
  • Annual earnings requirement:  Private earnings of $80,000 or family earnings of $150,000

Video: Promotional charges: What to search for within the high-quality print

Dos and don’ts to benefit from bank card promotions

Whereas benefiting from bank card promotions can earn you worthwhile factors, money, or reductions in charges and curiosity fees, there are a couple of guidelines to bear in mind.

  • Do weigh the worth of a card or playing cards towards the hit your credit score rating may take from making the appliance. Every request could make a short lived dent in your rating so you must keep away from making functions until you significantly need the cardboard.
  • Don’t apply for a bank card primarily based on its welcome provide alone. If the cardboard isn’t an excellent match on your spending or rewards objectives, you’ll probably end up with an additional, unused card on the finish of the promotion interval. 
  • Do learn up on the phrases of the provide so that you perceive the promotion and to ensure the principles are life like on your spending type. Some playing cards, for instance, require that you simply make a minimal spend to obtain the bonus. Others, like some money again playing cards, cap their redemptions at a sure greenback restrict.
  • Don’t be pushed to overspend simply to max out a welcome provide throughout the promotional timeframe. An pointless debt load isn’t price it.
  • Do be sure you meet a card’s eligibility necessities earlier than making use of. These can embrace a minimal earnings, a minimal credit score rating and Canadian citizenship. In some circumstances, those that have beforehand opened an account with the cardboard issuer are ineligible.
  • Don’t fail to maintain your card in good standing. These with flags on their accounts will not be eligible for presents. 

What’s bank card churning?

Bank card churning is the observe of signing up for bank cards to entry their promotional bonuses after which closing the accounts when you’ve acquired the rewards. Whereas this may appear to be plenty of trouble only for some factors, in some circumstances the rewards are vital sufficient to justify the work. In case this units off your alarm bells, know that, sure, churning is authorized. 

Professionals: 

  • Should you can grasp the strategic juggling required, it’s attainable to entry glorious money again and factors rewards
  • The perks and bonuses included with many playing cards—like insurance coverage or membership in numerous golf equipment—can add to the attraction and worth of making use of for a sure card.

Cons:

  • Churning can negatively have an effect on your credit score rating. Frequent or a number of bank card functions will trigger your rating to dip. Nevertheless, it ought to be famous that well timed reimbursement holds much more weight in terms of your rating. Pay every little thing again on time and also you’re in all probability not going to see a lot of an impact. 
  • Profitable churning requires a sure period of time and group. Should you neglect a fee or get confused a couple of bonus timeline, you can end up paying out or hurting your credit score rating. 
  • Continuously, you’ll need to fulfill a minimal spend, which may end in overspending or shopping for stuff you merely don’t want. 

There are lots of tempting bank card promotions in Canada that would get your on a flight faster, pad your pockets with money again, or assist you pay down excellent debt. And, if none of those strike your fancy, don’t fear—bank card promotions are at all times altering.


Extra of Canada’s greatest bank cards: