Credit Cards

Best Credit Card Offers and Promotions in Canada

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If you’re considering a new credit card, one of the first things you should look at is what are the current credit card offers in Canada. That’s right – to get you to sign with them, many credit cards have incentives such as an increased welcome bonus or the annual fee being waived for the first year, all of which can be incredibly valuable.

Of course, the sign-up bonus isn’t the only thing you should look at when applying for a new card. You also need to consider the earn rate and additional benefits since the value you get from them can vary quite a bit depending on your spending patterns. Here’s a look at the best credit card promotions in Canada.

Current Best Credit Card Offers in Canada

Credit CardCredit Card OfferAnnual FeeMore InfoLearn More
Tangerine Money-Back Credit CardSpecial 15% cash back rate* on the first $1,000 spent with the card ($150 cash back) in the first two months, apply by December 29, 2022.$0Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.Full Review
CIBC Dividend® Visa Infinite* CardGet a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†$120 (first year annual fee rebate)†20.99%† Purchase Annual Interest Rate,
22.99%† (21.99% QC only) Cash Advance Annual Interest Rate,
22.99%† (21.99% QC only) Balance Transfer Annual Interest Rate
Full Review
SimplyCash® Preferred Card from American ExpressIn your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Terms and conditions apply.$9.99/month (Equals a total fee of $119.88 annually)Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases.Full Review
BMO CashBack® World Elite®* Mastercard®*Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year*.$120 (first-year annual fee rebate)*Interest on Purchases: 20.99% Interest on Cash Advances: 23.99% (21.99% for Quebec residents)Visit Site
TD Cash Back Visa Infinite* CardEarn 10% Cash Back on all Purchases for the first 3 months† up to a total spend of $2,000. Plus, first year no Annual Fee for the Primary and Additional Cardholders†. Conditions apply. Must apply online by May 28, 2023.$139 (first year annual fee rebate)†Cardholders earn 3% in Cash Back Dollars on eligible grocery and gas purchases†, and on regularly recurring bill payments† set up on your account. All other card purchases earn at 1% cash back†.Full Review
BMO CashBack® Business Mastercard®*Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*.$0Purchase APR: 19.99%
Cash Advance APR: 22.99%
Visit Site
TD® Aeroplan® Visa Infinite* CardOnline exclusive: Earn up to 50,000 Aeroplan points†. Plus, first year no Annual Fee†. Conditions Apply. Must apply online by January 3, 2023.$139 (first year annual fee rebate)†Earn 1.5 points† for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®) made with your card. Earn 1 Aeroplan point† for every $1 spent on all other purchases made with your card.Full Review
BMO AIR MILES®† World Elite®* Mastercard®*Get 2,000 AIR MILES Bonus Miles and the $120 annual fee waived for the first year*.$120 (waived for first year)*Purchase APR: 20.99%
Cash Advance APR: 23.99% (21.99% for Quebec residents)
Visit Site
American Express® Aeroplan®* CardNew American Express® Aeroplan®* Cardmembers can earn up to 50,000 Aeroplan points. Conditions apply.$120Earn 2X the points on eligible purchases made directly with Air Canada®* and Air Canada vacations®*, 1.5X the points on eligible Dining and Food Delivery purchases in Canada, and 1X the points on everything else.Full Review
American Express® Aeroplan®* Reserve CardNew American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points. Conditions apply.$599Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*; 2X the points on eligible Dining and Food Delivery purchases in Canada; and earn 1.25X the points on everything else.Full Review
CIBC Dividend Platinum® Visa* CardGet a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†$99 (first-year annual fee rebate)†20.99%† Purchase Annual Interest Rate,
22.99%† (21.99% QC only) Cash Advance Annual Interest Rate,
22.99%† (21.99% QC only) Balance Transfer Annual Interest Rate
Full Review
CIBC Select Visa* CardTransfer your credit card balance - Get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate.†$29 (first-year annual fee rebate)†13.99%† Purchase Annual Interest Rate,
13.99%† Cash Advance Annual Interest Rate,
13.99%† Balance Transfer Annual Interest Rate
Full Review

†Terms and conditions apply.

The offer for the TD Cash Back Visa Infinite* Card is not available for residents of Quebec. For Quebec residents, please click here.

The offer for the TD® Aeroplan® Visa Infinite* Card is not available for residents of Quebec. For Quebec residents, please click here.

Tangerine Money-Back Credit Card

Tangerine Credit Cards logo

Apply for a Tangerine Money-Back Credit Card by December 29th, 2022 and earn an extra 15% back* (up to $150) when you spend up to $1,000 in everyday purchases within your first 2 months.

    The Tangerine Money-Back Credit Card is always a handy card to have in your wallet, but now there’s an exciting welcome bonus as well. New cardholders are eligible for a Welcome Offer: Special 15% cash back rate* on the first $1,000 spent with the card ($150 cash back) in the first two months, apply by December 29, 2022. After that: Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases. Plus, there are no limits on how much cash you can earn, and you can get a third 2% money-back category if you also have a Tangerine Savings account.

    The Details:

    • Annual Fee: $0
    • Minimum Income Eligibility: $12,000
    • Credit Score Required: Fair;Good
    • Additional Benefits: Automatic, monthly reimbursement to your credit card balance or savings account; unlimited cash back
    • Interest on Purchases: 19.95% | Interest on Cash Advances: 19.95%
    • Welcome offer: Special 15% cash back rate* on the first $1,000 spent with the card ($150 cash back) in the first two months, apply by December 29, 2022.

    *Terms and conditions apply


    CIBC Dividend® Visa Infinite* Card

    CIBC Credit Cards logo

    Get a first-year annual fee rebate for you and up to three Authorized Users† and 10% cash back for the first 4 statements on net purchases of up to $2,500.†

      The CIBC Dividend® Visa Infinite* Card has a stellar promo right now for new cardholders: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†

      After that- After the Welcome Offer ends, get 4% cash back on eligible gas and grocery purchases†; 2% cash back on eligible transportation, dining purchases and recurring payments†; and 1% cash back on all other purchases†. Plus, there’s no limit on the total cash back you can earn.† Get cash back on demand - redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†.

      This card also comes with a suite of insurance coverage (including travel medical) and access to the exclusive luxury hotel and travel benefits offered through the Visa Infinite program.†

      The Details:

      • Annual Fee: $120 (first-year annual fee rebate)†
      • Purchase Annual Interest Rate: 20.99%†
      • Balance Transfer Annual Interest Rate: 22.99%† (21.99% QC only)
      • Cash Advance Annual Interest Rate: 22.99%† (21.99% QC only)
      • Income Eligibility: $60,000 individual, or $100,000 household†
      • Credit Score Required: Good;Excellent
      • Welcome Offer: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†
      • Additional Benefits: Earn cash back on every dollar you spend, including travel insurance, and access to Visa Infinite benefits†

      This is a digital-exclusive offer.† To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.†

      †Conditions apply 

      Quebec Residents – Learn More about this CIBC product here.

      Résidents du Québec – Pour en savoir plus sur ce produit CIBC, suivez ce lien.


      SimplyCash® Preferred Card from American Express

      American Express Canada Credit Cards logo

      In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Terms and conditions apply.

        The SimplyCash® Preferred Card from American Express offers excellent value. In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Terms and conditions apply.

        Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases. There are very few credit cards on the market that offer such a generous base earn rate — and without a cap on earnings.

        If you refer any family or friends to this credit card, you could also get a referral bonus. For every approved referral, you get a $100 bonus that’s added to your cash back balance, up to a maximum of $1,500 cash back.

        This card also includes travel insurance, shopping coverage (e.g. purchase protection) and access to events and special offers curated for Cardmembers with American Express® Experiences. Overall, the $9.99/month (Equals a total fee of $119.88 annually) annual fee is a drop in the bucket when you consider the cash-back earning potential and included perks.

        The Details:

        • Annual Fee: $9.99/month (Equals a total fee of $119.88 annually)
        • Minimum Income Eligibility: N/A
        • Credit Score Required: Good;Excellent
        • Welcome Offer: In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Terms and conditions apply.
        • Additional Perks: Travel insurance, shopping coverage, exclusive entertainment access
        • Purchase APR: 20.99% | Cash Advance APR: 21.99%

        The BMO CashBack® World Elite®* Mastercard®*

        BMO Credit Cards logo

        New cardholders can get an annual fee rebate for the primary cardholder* ($120 value), plus 10% cash back for their first three months*.

          The BMO CashBack® World Elite®* Mastercard®* has a fantastic promo right now: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year*. That’s up to $380 that you can put towards your next splurge or sock away in your savings account. After the promo ends, you can keep earning cash back. Earn 5% on groceries*, 4% on transit including ride sharing, taxis and public transportation*, 3% on gas and electric vehicle charging*, 2% on recurring bill payments like your monthly phone bill or favourite streaming service*, and 1% unlimited cashback on all other purchases*.

          Redemption is easy: cash back rewards can be deposited into your BMO chequing or savings account, applied as a statement credit, or deposited into your BMO InvestorLine account. The choice is yours!

          The Details:

          • Annual Fee: $120 (first-year annual fee rebate)
          • Minimum Income Eligibility: Minimum $80,000 (individual) or $150,000 (household)
          • Credit Score Required: Excellent
          • Welcome Offer: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year*.
          • Additional Benefits: Travel insurance*, Complimentary membership in Mastercard Travel Pass provided by DragonPass*, shopping protection*
          • Interest on Purchases: 20.99% | Interest on Cash Advances: 23.99% (21.99% for Quebec residents)

          *Terms and conditions apply.


          TD Cash Back Visa Infinite* Card

          TD Credit Cards logo

          Earn 10% Cash Back on all Purchases for the first 3 months† up to a total spend of $2,000. Plus, first year no Annual Fee for the Primary and Additional Cardholders†. Conditions apply. Must apply online by May 28, 2023.

            The TD Cash Back Visa Infinite* Card has a great limited-time welcome offer for new cardholders.

            Apply online by May 28, 2023 and earn 10% 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.
            • Plus, no Annual Fee† for the first year for the Primary and Additional Cardholders.

            To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening.

            After the promo ends, Cardholders earn 3% in Cash Back Dollars on eligible grocery and gas purchases†, and on regularly recurring bill payments† set up on your account. All other card purchases earn at 1% cash back†. Another big perk is that Cash Back Dollars can be redeemed whenever you like†, simply by applying a credit to your card’s balance.

            The Details:

            • Annual Fee: $139 (Annual fee rebate for first year)
            • Minimum Income Eligibility: $60,000 personal or $100,000 household annual income.
            • Credit Score Required: Good;Excellent
            • Welcome Offer: Earn 10% Cash Back on all Purchases for the first 3 months† up to a total spend of $2,000. Plus, first year no Annual Fee for the Primary and Additional Cardholders†. Conditions apply. Must apply online by May 28, 2023.
            • Additional Benefits: Includes travel insurance†, and Emergency Road Services with the Deluxe TD Auto Club Membership†, Mobile Device Insurance†
            • Interest on Purchases: 20.99% | Interest on Cash Advances: 22.99%

            †Terms and conditions apply.

            This offer is not available for residents of Quebec. For Quebec residents, please click here.


            BMO CashBack® Business Mastercard®*

            BMO Credit Cards CA logo

            Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months (up to a maximum of $150 cash back)*.

              If you’re looking for a business credit card that offers rewards, look no further than the BMO CashBack® Business Mastercard®*. Get 1.5% cash back on eligible gas stations, office supplies purchases and on your cell phone and internet recurring payments*, 1.75% cash back at Shell®*, and 0.75% cash back on all other card purchases*

              The card also comes with an excellent welcome bonus: Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*. Did we mention that it has no annual fee?

              The Details:

              • Annual Fee: $0
              • Income Eligibility: N/A
              • Credit Score Required: N/A
              • Welcome Offer: Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*.
              • Additional Benefits: Earn cash back on every dollar you spend, purchase protection and extended warranty*
              • Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99%

              *Terms and conditions apply.


              TD® Aeroplan® Visa Infinite* Card

              TD Credit Cards logo

              Online exclusive: Earn up to 50,000 Aeroplan points†. Plus, first year no Annual Fee†. Conditions Apply. Must apply online by January 3, 2023.

                The TD® Aeroplan® Visa Infinite* Card has an appreciable welcome promotion to get you excited.

                Earn up to $1,400 in value† including up to 50,000 Aeroplan points, no annual fee for the first year and additional travel benefits. Must apply online by January 3, 2023.

                • Earn a welcome bonus of 10,000 Aeroplan points when you make your first purchase with your new card†

                • Earn 20,000 Aeroplan points when you spend $1,500 within 90 days of Account opening†

                • Plus, earn an additional 20,000 Aeroplan points when you spend $7,500 within 12 months of Account opening†

                • Enroll for NEXUS and once every 48 months get an application fee rebate†, and share free first checked bags†

                • Plus, get an annual fee rebate for the first year†.

                To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening and you must add your Additional Cardholders by January 4, 2023.

                In addition, the earn rate on this card is impressive: Earn 1.5 points† for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®) made with your card. Earn 1 Aeroplan point† for every $1 spent on all other purchases made with your card. Keep in mind that you can earn double the points at participating Aeroplan merchants†. Just show your loyalty card or app first and then pay for your purchases with your TD® Aeroplan® Visa Infinite* Card.

                You can also earn big rewards on the little things with your favorite cup of coffee. Earn 50% more Aeroplan Points and 50% more Stars at participating Starbucks® stores. Simply link your TD® Aeroplan® Visa Infinite* Card to your Starbucks® Rewards account. Conditions apply. Learn more here.

                The Details:

                • Annual Fee: $139 (first year annual fee rebate)
                • Minimum Income Eligibility: $60,000 personal or $100,000 household annual income
                • Credit Score Required: Good;Excellent
                • Welcome Offer: Online exclusive: Earn up to 50,000 Aeroplan points†. Plus, first year no Annual Fee†. Conditions Apply. Must apply online by January 3, 2023.
                • Additional Perks: Travel insurance†, free first checked bag on Air Canada flights†, Auto Rental Collision/Loss Damage Insurance†
                • Purchase APR: 20.99% | Cash Advance APR: 22.99%

                †Terms and conditions apply.

                This offer is not available for residents of Quebec. For Quebec residents, please click here.


                BMO AIR MILES®† World Elite®* Mastercard®*

                BMO Credit Cards logo

                Sign up for the BMO AIR MILES®† World Elite®* Mastercard® and get 2,000 AIR MILES as a welcome bonus when you charge a minimum of $3,000 to your card in the first three months of card membership*. Plus, the annual fee of $120 is waived for the first year*.

                  AIR MILES is one of the most popular loyalty programs in Canada and if you sign up for the BMO AIR MILES®† World Elite®* Mastercard®*, you’ll collect an impressive welcome bonus. Get 2,000 AIR MILES Bonus Miles and the $120 annual fee waived for the first year*.

                  AIR MILES is a unique type of loyalty program since you get to decide if you want to earn cash or Dream Miles. With Dream Miles, you can redeem your miles for rewards like flights, hotels, car rentals, and so forth. On the other hand, Cash Miles can be redeemed at merchants for instant cash off your purchases. You get to decide what ratio you earn your Cash or Dream miles (e.g. 50/50, 80/20, 100/0) and you have the flexibility to change that ratio when you want.

                  The Details:

                  • Annual Fee: $120 (free-waived for the first year)*
                  • Minimum Income Eligibility: Minimum $80,000 (individual) or $150,000 (household)
                  • Credit Score Required: Excellent
                  • Welcome Offer: Get 2,000 AIR MILES Bonus Miles and the $120 annual fee waived for the first year*.
                  • Other Perks: Use fewer Miles with our exclusive 25% discount on one worldwide AIR MILES flight redemption during the calendar year*, comprehensive travel insurance*, and complimentary membership in Mastercard Travel Pass provided by DragonPass*
                  • Purchase APR: 20.99% | Cash Advance APR: 23.99% (21.99% for Quebec residents)

                  *Terms and conditions apply.


                  The American Express® Aeroplan®* Card

                  American Express Canada Credit Cards logo

                  New American Express® Aeroplan®* Cardmembers can earn up to 50,000 Aeroplan points. Conditions apply.

                    The new American Express® Aeroplan®* Card comes with a very attractive welcome offer.

                    New American Express® Aeroplan®* Cardmembers can earn up to 50,000 Aeroplan points:

                    • Earn 35,000 Aeroplan points after spending $3,000 in net purchases on your Card within the first 6 months of Cardmembership
                    • Plus, earn 2,500 Aeroplan points for each monthly billing period in which you spend $500 in purchases on your Card for the first 6 months of Cardmembership. That could add up to 15,000 Aeroplan points
                    • New Cardmembers: Earn up to $1,100 in value within your first year. Spend applies to bonus point offers valued at up to $1,000
                    • Conditions apply

                    Additionally, the card features strong standard reward rates. Earn 2X the points on eligible purchases made directly with Air Canada®* and Air Canada vacations®*, 1.5X the points on eligible Dining and Food Delivery purchases in Canada, and 1X the points on everything else. When you pair the points-earning potential with the welcome offer, it’s easy to see how you can quickly rack up points for travel rewards.

                    The Details:

                    • Annual Fee: $120
                    • Minimum Income Eligibility Requirement: N/A
                    • Credit Score Required: Good;Excellent
                    • Welcome Offer: New American Express® Aeroplan®* Cardmembers can earn up to 50,000 Aeroplan points. Conditions apply.
                    • Additional Benefits: Comprehensive insurance, Air Canada travel benefits, access to exclusive American Express benefits
                    • Interest on Purchases: N/A | Interest on Cash Advances: N/A

                    The American Express® Aeroplan®* Reserve Card

                    American Express Canada Credit Cards logo

                    New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points. Conditions apply.

                      Like the American Express® Aeroplan®* Card, the American Express® Aeroplan®* Reserve Card gives you a very warm welcome. But this card comes with much a bigger price tag at $599 per year. While it may seem daunting at first, frequent travellers can use the points-earning potential and welcome offer to more than cover that fee.

                      New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points:

                      • Earn 55,000 Aeroplan points after spending $6,000 in net purchases on your Card within the first 6 months of Cardmembership
                      • Plus, you can also earn 5,000 Aeroplan points for each monthly billing period in which you spend $1,000 in purchases on your Card for the first 6 months of Cardmembership. That could add up to 30,000 Aeroplan points
                      • New Cardmembers: Earn up to $2,600 in value within your first year. Spend applies to bonus point offers valued at up to $1,700
                      • Conditions apply

                      As with many travel cards, travel purchases get you the most points. Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*; 2X the points on eligible Dining and Food Delivery purchases in Canada; and earn 1.25X the points on everything else.

                      Beyond points, the card brings with it some incredible perks. You get access to select Air Canada Maple Leaf Lounges™* and Air Canada Café™ in North America for you and a guest, with a same-day ticket on a departing Air Canada or Star Alliance flight, Air Canada Priority Airport Services, and special perks at Pearson International Airport, plus comprehensive travel insurance, and much more.

                      The Details:

                      • Annual Fee: $599
                      • Minimum Income Eligibility Requirement: N/A
                      • Credit Score Required: Good;Excellent
                      • Welcome Offer: New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points. Conditions apply.
                      • Additional Benefits: Comprehensive insurance, access to select Air Canada lounges and Priority Airport services, Annual Worldwide Companion Pass, access to exclusive American Express benefits
                      • Interest on Purchases: 20.99% | Interest on Cash Advances: 21.99%

                      CIBC Dividend Platinum® Visa* Card

                      CIBC Credit Cards logo

                      Get a first-year annual fee rebate for you and up to three Authorized Users† and 10% cash back for the first 4 statements on net purchases of up to $2,500.†

                        If you’re looking for a generous cash back earn rate and tempting welcome offer, then check out the CIBC Dividend Platinum® Visa* Card. After the Welcome Offer ends, get 3% cash back on eligible gas and grocery purchases†, 2% cash back on eligible transportation, dining purchases and recurring payments†, and 1% cash back on all other purchases.† Get cash back on demand - redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†. The welcome offer includes a rebate of the $99 annual fee† (which is lower than other cards with the same cash back earn rate): Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†

                        As for the extras, there’s $500,000 of common carrier accident coverage, auto rental damage and collision loss insurance, and you can opt to add travel medical coverage too.† And finally, the purchase security and extended protection insurance have got your back in case anything goes wrong with your new purchases.†

                        The Details:

                        • Annual Fee: $99 (first-year annual fee rebate)†
                        • Purchase Annual Interest Rate: 20.99%†
                        • Balance Transfer Annual Interest Rate: 22.99%† (21.99% QC only)
                        • Cash Advance Annual Interest Rate: 22.99%† (21.99% QC only)
                        • Minimum Income Eligibility: $15,000 household†
                        • Credit Score Required: Good
                        • Welcome Offer: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!†
                        • Additional Perks: $500,000 in common carrier accident protection and auto rental collision and loss damage insurance; purchase security and extended protection insurance

                        This is a digital-exclusive offer.† To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.†

                        †Conditions apply 

                        Quebec Residents – Learn More about this CIBC product here.

                        Résidents du Québec – Pour en savoir plus sur ce produit CIBC, suivez ce lien.


                        CIBC Select Visa* Card

                        CIBC Credit Cards logo

                        Transfer your credit card balance - Get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate.†

                          Sometimes life happens and you need to carry a credit card balance from month to month. If that’s your situation, then consider a credit card that has the potential to save you hundreds of dollars on interest every year. The CIBC Select Visa* Card has a Purchase Annual Interest Rate of just 13.99%†, whereas most credit cards will charge you 19.99%, or more! Plus, if you transfer an existing credit card balance, you can get 0% interest for up to 10 months with a 1%† transfer fee and a first-year annual fee rebate.† Plus the income eligibility threshold is low, making this card an attractive option for anyone who needs to carry a balance now and then.

                          The Details:

                          • Annual Fee: $29 (first-year annual fee rebate)†
                          • Purchase Annual Interest Rate: 13.99%†
                          • Balance Transfer Annual Interest Rate: 13.99%†
                          • Cash Advance Annual Interest Rate: 13.99%†
                          • Income Eligibility: $15,000 household†
                          • Credit Score Required: Good
                          • Welcome Offer: Transfer your credit card balance - Get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate.†
                          • Additional Benefits: Low-interest rate on purchases and cash advances; common carrier accident insurance coverage†; three free additional cardholders†

                          †Conditions apply 

                          Quebec Residents – Learn More about this CIBC product here.

                          Résidents du Québec – Pour en savoir plus sur ce produit CIBC, suivez ce lien.


                          What Are Credit Card Promotions and How Do They Work?

                          Credit card promotions typically refer to two things: the welcome bonus and the annual fee. The welcome bonus is usually extra points or additional cash back. In both cases, you still need to meet certain conditions to get the entire bonus (e.g. a minimum spend amount within a certain time period).

                          Every bonus is different and since every rewards program varies, you sometimes need to read the fine print in order to find out how you can maximize your welcome bonus. If the annual fee has a promotion, it’ll just be waived or rebated for the first year. A general rule to remember: any credit card promotion where the annual fee is rebated and offers a welcome bonus worth at least $250 is a good deal.

                          Different Types of Sign-Up Bonuses

                          Unlike banks that can give you actual cash or merchandise as a sign-up bonus, credit cards can really just offer additional points or cash back multipliers. This isn’t a bad thing, but you just need to recognize what’s actually a good deal. For example, if the promotion is offering 5,000 to 10,000 extra points, then that’s totally worth signing up for.

                          Some promotions even go above and beyond by waiving the annual fee for the first year. This essentially allows you to collect the sign-up bonus and try out the card for the first year for free.

                          Credit Card Bonus Conditions

                          Although credit card promotions are appealing, there are always conditions. With points promotions, you’ll need to spend a certain amount within three months to get the full bonus. That could range from $500 to $7,000. If you were already planning to spend that money then it’s no big deal, but if you need to carry a balance just to get the welcome bonus, it’s not worth it since you could end up paying a lot in interest charges.

                          With cash back promotions, you’ll earn a higher earn rate, but there’s usually a cap. Let’s say you can earn 10% cash back for three months and it tops out at $200 in cash back. That means you would need to charge $2,000 to your card to get the full bonus. Again, that’s only good if you were planning to spend that money.

                          Is It Worth It?

                          Yes, credit card promotions are always worth it, but this assumes that you meet the conditions to get your bonus. Some of these deals are so good that it’s worth signing up, even if you weren’t looking for a new card. If you see a credit card promotion that gives you at least $250 in value, it may be worth applying for.

                          The Best Credit Cards by Category:

                          This post was not sponsored. The views and opinions expressed in this review are purely my own.

                          American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

                          BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

                          Lisa Jackson

                          Lisa Jackson

                          Lisa Jackson is a freelance journalist, editor, and blogger who contributes to various online and print media outlets in Canada and abroad, including The Globe & Mail, Al Jazeera News, The Independent UK, CAA Magazine, The Toronto Star, West Jet Magazine, Huffington Post Canada, and many others.



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