Here are the Rewards Canada Top 5 Credit Card Sign Up offers for the month of August 2020! This is not a ‘best’ credit card
list like our Top Travel Rewards Credit Card rankings but instead a look at cards that have very good acquisition (welcome/sign up) offers. As always when choosing a card
you should always take other factors into account other than the
up bonus, but when some of these cards are first year free, they
do pay off even when you grab them strictly for the sign up rewards.
This month we see two first year free cards on the list
For this month the list is the exact same as July’s list as there
haven’t been any significant changes to the higher end welcome offers in
As travel is curtailed right now these offers are more
forward looking and can and should be used towards your long term
travel plans – whether that’s later this year, next year or even beyond.
Getting the cards now allows you to achieve the sign up bonuses as you
wish and then continue to spend to build up those points and miles
balances to make those future vacations that much better. – Or in the
case of all the cards except the Alaska Airlines Mastercard you can also
look at cash back or cash back equivalents like gift cards from each
program if you are looking at short term financial help. If you are
going for the latter focus on the cards that have no fee in the first
year so that you can maximize your value.
Remember as well that you will find this list smack dab in the middle of the Rewards Canada homepage for
Here are our top 5 credit card sign up offers for July (in order of
welcome bonus value, calculated as minimum mile/points value minus
Marriott Bonvoy American Express Card – 50,000 Points (Apply here)
Minimum value: $380
The 50,000 points, awarded after
spending $1,500 on the card in three months are worth at least $500 in
our minds which means after subtracting the annual fee you are coming
out ahead by $380. In reality you can pull even more value out of the card (into four figures) as we outlined in our post A look at how The Marriott Bonvoy American Express Card provides huge value! Don’t forget you get an annual free night with the card as well on the card anniversary date, automatic Silver Elite status, 15 night credit towards the next elite status and more.
Minimum Income: N/A
Alaska Airlines World Elite Mastercard – 30,000 Miles (Apply here)
Minimum value: $330
This card offers a welcome bonus of 30,000 miles when you spend $1,000
on the card in the first three months of having it. This is one of the
easiest bonuses to achieve and this card is one of the most churnable in
Canada. There are really no problems in getting it 2-4 times in one
year alone! Those 30,000 miles are worth no less than $330 when
redeeming for economy class flights and just go up from there like the
TD Aeroplan card.
Personal or $150,000 Household
CIBC Aerogold Visa Infinite Card – 20,000 Miles (Apply here)
Minimum value: $240
bonus is awarded as follows: 15,000 Aeroplan Miles when you make your
first Purchase with your Card + 5,000 Aeroplan Miles when you spend
$3,000 or more in the first four billing periods. Plus your first year annual fee is waived! Depending on how
you redeem those Aeroplan miles should be
worth no less than $240 but more likely closer to $500 or more! In fact
if you take the per mile value from our post from late July 2019 this welcome bonus would be worth $1,500 or more.
Personal or $100,000
WestJet RBC World Elite Mastercard – 350 WJD (Apply here)
Minimum value: $231
The WestJet RBC World Elite Mastercard actually requires the least
amount of spend out of any of the cards on this list. Spend $1 and
you’ll get the 350 WestJet dollars bonus. You do have to pay the $119
annual meaning you come out $231 ahead. This card will earn 2x rewards on groceries and dining until August 31, 2020
Minimum Income: $80,000 personal or $150,000 household
If you went for all these cards you ultimately could end up with
anywhere from $1,400 to over $2,500 in travel value. However even if you only take
one or two you are helping your travel budget significantly at no cost
other than regular credit card spend. We don’t really recommend getting
all five in one month unless you know you can meet the minimum spend for
them all at once, rather you’d want to pick one or two right now,
perhaps another next month and so on.
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