Here
are Rewards Canada’s Top 5 Cash Back Credit Card Sign Up offers for
the month of December 2021. This is not a ‘best’ credit card
list like our Top Cash Back 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
just sign
up bonus, but when some of these cards are first year free, they
can and
do pay off even when you grab them strictly for the sign up rewards.
Some
slight changes this month as TD has come out with a new offer on their Cash Back Infinite Card that puts it back into the top 5.
Here are the Top 5 Cards for this month in order of value:
American Express Cobalt Card – 50,000 points (Apply here)
Welcome offer cash back value: $344 ($500 – $155.88 annual fee)
Better
known as a travel card the American Express Cobalt Card became Canada’s
#1 cash back card in June 2021 as American Express bumped up its Use
Points for Purchases (cash back) rate to 1,000 points for $10. That
makes the card’s new limited welcome bonus of 50,000 points (20,000 in
the first three months when you spend $3,000 + 2,500 per month when you
spend $500 each month in the first twelve months) worth $500. Subtract
the $12.99 per month fee for the card and you have a cash back value of
$344 just from the welcome offer.
Minimum Income: N/A
SimplyCash™ Preferred Card from American Express – 10% cash back on all purchases up to $4,000 (Apply here)
Welcome offer cash back value: $301 ($400 – $99 annual fee)
This card is offering 10% cash back on
all spending during the first four months of having the card.
The 10%
is capped at $4,000 of spending for a maximum return of $400 cash back
as your welcome bonus. This is the only card on the list that does not
have its first year annual fee waived. That fee is $99 hence the welcome
bonus sign up value of $301. Cash back
on this card is awarded once per year as a statement credit.
Minimum Income: N/A
CIBC Dividend® Visa Infinite* Card – 10% cash back on all purchases up to $2,500 (Apply here)
Welcome offer cash back value: $250
This card is offering 10% cash back on
all spending during the first four billing cycles of having the card.
The 10%
is capped at $2,500 of spending for a maximum return of $250 cash back
as your welcome bonus. The card does come with a first year annual fee
waiver on the primary card and up to three additional cards. You can
cash out at anytime so long as your rewards balance is $25 or more.
Minimum Income: $60,000 (individual) or $100,000 (household)
CIBC Dividend® Visa Platinum* Card – 10% cash back on all purchases up to $2,500 (Apply here)
Welcome offer cash back value: $250
This card is offering 10% cash back on all spending during the first
three months of having the card. The 10% is capped at $2,500 of spending
for a maximum return of $250 cash back as your welcome bonus. The card
does come with a first year annual fee waiver on the primary card and
up to three supplementary cards. Cash back on this card is awarded once per year
Minimum Income: $15,000
TD Cash Back Visa Infinite Card – 6% cash back on all purchases up to $3,500 (Apply here)
Welcome offer cash back value: $210
This card is offering 6% cash back on all purchases for the first 3 months up to a total spend of $2,000.
After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases
and Pre-Authorized Payments will continue to earn 6% up to a total spend
of $3,500 for the first 3 months. The card
does come with a first year annual fee waiver on the primary card and
allows to redeem as little as $25 cash back at anytime for a statement
credit. You must apply by May 29, 2022 and this offer is not available for Quebec
Minimum Income: $60,000 (individual) or $100,000 (household)
6. BMO CashBack World Elite Mastercard
10% cash back on purchases for the first 3 months (up to $2,000). No annual fee in the first year.
Welcome offer cash back value: $200
7. SimplyCash Card from American Express
4% cash back on purchases for the first 6 months (up to $5,000) No annual fee ever
Welcome offer cash back value: $200
8. Laurentian Bank Visa Infinite Card
Up to 8 points on each dollar spent up to $2,500 during the first
three months at restaurant, grocery and gas stations. No annual fee in the first year.
Welcome offer cash back value: $200
9. Tangerine World Mastercard®
15% back* (up to $150) when you spend up to $1,000 within your first 2 months. No annual fee ever
Welcome offer cash back value: $150
10. Tangerine Money-Back Credit Card
15% back* (up to $150) when you spend up to $1,000 within your first 2 months. No annual fee ever
Welcome offer cash back value: $150
10. MBNA Smart Cash Platinum Plus® Mastercard®
Get 5% Cash Back on eligible gas and grocery
purchases for the first 6 months (until the total gas and
grocery
purchases in the applicable month reaches $500) No annual fee ever
Welcome offer cash back value: $150
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