Most rewards cards in Canada come with a welcome offer: extra points, a higher cash back rate for the first months, or a first-year fee rebate for new cardholders. Offers change often, sometimes monthly, so this page doesn’t list them. It explains how they’re built, the conditions attached, and how to judge one, with a link to each issuer’s own page for the current terms. It’s part of our credit card reviews and roundups.
Kinds of welcome offers
| Offer type | How it works | Cards that have used it |
|---|---|---|
| Points after a spending requirement | A block of points once you spend a set amount within the first months | Amex Platinum, Scotiabank Passport Visa Infinite, CIBC Aventura Visa Infinite |
| Points in stages | Points released in steps: on the first purchase, after a spending requirement, and sometimes at the first anniversary | TD Aeroplan Visa Infinite |
| Monthly points | Points for each month you meet a monthly spending target during the first year | Amex Cobalt |
| Boosted cash back | A higher cash back rate on purchases up to a limit for the first few months | Scotia Momentum Visa Infinite+, TD Cash Back Visa Infinite, Tangerine Money-Back |
| Fixed cash back | A set cash amount after a spending requirement | SimplyCash Preferred from Amex, CIBC Dividend Visa Infinite |
| First-year fee rebate | The annual fee is waived or refunded for the first year, often alongside points or cash | TD and Scotiabank Visa Infinite cards |
| Travel perks | A companion voucher, lounge passes or status for the first year, on some travel cards | Airline co-branded cards |
The conditions that come with an offer
Every offer has written terms on the issuer’s site, and they decide whether you get it. The ones that matter most:
- A spending requirement and a deadline. Most points and fixed cash offers need a set amount of purchases within a set number of days from account opening. Balance transfers, cash advances, fees and interest usually don’t count toward it.
- An application window. Offers apply to accounts opened between two dates; applying a day late can mean a different offer or none.
- Eligibility limits. Issuers often exclude people who hold, or recently held, a card from them. Scotiabank’s terms for one Passport offer exclude anyone who was a Scotiabank personal credit cardholder in the past two years; Tangerine limits its offer to one per client; TD reserves the right to limit the number of accounts one person opens.
- Good standing at payout. The account usually has to be open and in good standing when the bonus is paid. TD’s Aeroplan terms say the account must be in good standing when each part of the offer is issued, and Tangerine’s say the same at the time of payout.
- Timing. Points can take several weeks after you meet a condition to appear, and staged offers pay their last part a year or more after opening.
- Clawbacks. Some issuers’ terms let them withhold or take back bonus points if the account is closed, converted to another card or not in good standing soon after the bonus is paid. Whether a card has such a rule, and for how long, is in that offer’s terms.
Where to check the current offer
| Issuer | Credit card page |
|---|---|
| American Express | americanexpress.com/en-ca |
| TD | td.com |
| Scotiabank | scotiabank.com |
| CIBC | cibc.com |
| BMO | bmo.com |
| RBC | rbcroyalbank.com |
| Tangerine | tangerine.ca |
Each issuer’s card page shows the current offer, and its legal footnotes hold the spending requirement, deadline and eligibility rules.
Judging whether an offer is worth it
A welcome offer is a one-time payment, while the fee and the earn rate are with you every year. That makes the order of questions:
- Would you want this card without the offer? If the ongoing rewards don’t suit your spending, the offer only delays the point where the fee outweighs them. The credit card comparison table and the category roundups help answer this.
- Can you meet the spending requirement with purchases you’d make anyway? Spending extra to reach it, or carrying a balance, costs more than most offers return.
- What is the offer worth in dollars? Points have different values depending on the program and how you redeem them; the rewards programs guides set out what each program’s points are worth. Subtract the first-year fee if it isn’t rebated.
- Does the application suit your plans? Each application can add a hard inquiry; if you’re about to apply for a mortgage or car loan, a new card can wait. The guide to time between card applications explains the effect.
Applying for cards mainly for their offers
Opening cards for their welcome offers and closing them afterwards is known as churning. It’s harder in Canada than in the U.S. because issuers limit repeat offers, and it affects your credit file and your relationship with the issuer. The credit card churning guide covers how it works and its risks.