Thursday, November 7, 2019

A look at what you have to actually spend to get some of the best credit card welcome bonus offers

Yesterday we released our monthly Top Credit Card Sign Up Offers post which strictly looks at the value of the welcome or sign up bonus for cards in the Canadian market.  To recap, these are the top five cards on the list for November:

For some reason yesterday we received not just one but two requests to take a look at this list based on what you have to spend to get those bonuses!

So shout out to Anik and DC for this idea!

And here it is! We've taken nine of the better card welcome bonuses out there and list them in order of the spend required to get the bonus from the minimum to the maximum! We've also added in maximum travel value and also the timeline to get the bonus. As you can see the WestJet RBC World Elite Mastercard actually has one of the easiest bonuses to get where you only have to spend $1 (it could be less as I don't recall if RBC awards WestJet dollars on spend under $1) while the latest CIBC offers not only takes a full 12 months to earn you have to pay two annual fees (1st and 2nd year) to get the full bonus.

Card Welcome Bonus Min Value toward travel* Max Value towards travel Minimum spend required to actually get the full bonus ** Time to get the bonus

WestJet RBC World Elite Mastercard
Get 250 welcome WestJet dollars + for a limited time, earn an additional 100 WestJet dollars when you make your first purchase in the first 3 months. $231 $231 $1.00 3 mo max

Marriott Bonvoy™ American Express® Card
Earn 50,000 Marriott Bonvoy™ points enough for 3 free nights at a Category 2 hotel after you charge $1,500 in purchases to your Card in your first three months of Cardmembership $380 No set max - could easily get above $1,000 $1,500 3 mo max

HSBC World Elite Mastercard
Earn up to 60,000 Bonus HSBC Rewards Points and first year annual fee rebate when you apply for and are approved for the card. $300 $300 $2222.22 90 days max

BMO World Elite Mastercard
Get 35,000 points when you spend $3,000 in the first three months and the $150 annual fee waived in the first year $250 $250 $3,000 3 mo max

BMO AIR MILES World Elite Mastercard
Get up to 3,000 AIR MILES Bonus Miles and we’ll waive the $120 annual fee for the first year $315 No set max - could easily get above $500 $3,000 3 mo max

TD® First Class Travel® Visa Infinite* Card
Earn up to 90,000 TD Points plus, first year no Annual Fee1 for the Primary Cardholder. $310 $400 $3333.34 3 mo max

National Bank of Canada World Elite Mastercard
Earn up to $480 in cash back in the first year. Get $40 cashback for each month you charge at least $500 in net purchases to card over a 12-month period (maximum cashback of $480). $330 $330 $6,000 12 mo max

TD® Aeroplan® Visa Infinite* Card
Earn up to 40,000 Aeroplan Miles (equivalent to 2 premium economy short-haul roundtrip flight rewards)1 and first year no Annual Fee1 for the Primary Cardholder. $400 No set max - could easily get above $1,000 $6666.67 3 mo max

CIBC Aventura Visa Infinite Card
Earn up to 35,000 Aventura Points - Get 20,000 Aventura Points when you make your first purchase and get a 15,000 Aventura Points anniversary bonus when you have at least $10,000 in purchases within your first year $110 $560 $10,000 12 mo min
* Calculated by taking the value of the full amount of miles earned from the bonus less the annual fee(s)
** Minimum spend is calculated by using the highest possible category multiplier for earning points/miles.

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