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Before It’s Too Late! Best Credit Card Welcome Offers of December 2020
If you can believe it, sometimes the best credit cards in Canada can get even better. A great welcome offer can reward cardholders with extra points or cash back on an already exceptional card.
But these bonuses only run for a limited time, so before it’s too late, check out the best credit card welcome offers for this month:
| Our top picks | ||
|---|---|---|
Credit card | Welcome offer | Annual fee |
| American Express CobaltTM Card |
| $10 per month ($120 per year) |
| American Express® Aeroplan®* Reserve Card |
| $599 |
| BMO eclipse Visa Infinite* Card |
| $120 (Waived year 1) |
| TD Cash Back Visa Infinite* Card |
| $120 (Rebated year 1) |
American Express CobaltTM Card
*Best of Finance Winner: Best Rewards Credit Card in Canada for 2020
Apply for the American Express CobaltTM Card and earn up to 45,000 bonus Membership Rewards® points in the first year. Get 2,500 Membership Rewards® points each month you make at least $500 in purchases on the card.
Plus, earn 15,000 Membership Rewards® points when you spend at least $3,000 in purchases on your card in the first three months of opening the account.
Regular features and benefits of this card include:
- Monthly fee: $10 ($120 per year)
- Annual fee for additional cards: $0
- Earn five points per dollar you spend at eligible restaurants, bars, cafés, food delivery services and grocery stores.
- Get two points per dollar you spend on eligible transit, gas and travel purchases, including buses, taxis, and rideshare services.
- Receive one point per dollar you spend on all other everyday purchases.
- Redeem the flexible Membership Rewards® for travel or statement credits.
This card also provides a full suite of travel and shopping coverage, as well as all that American Express Invites® has to offer. Access advanced ticket sales, exclusive experiences, and special offers.
Offer expiry date: May 5, 2021
American Express® Aeroplan®* Reserve Card
New cardholders of the American Express® Aeroplan®* Reserve Card can earn up to 65,000 Welcome Bonus Aeroplan®* points and a $100 statement credit. Receive 35,000 Aeroplan points and a $100 statement credit when you make at least $3,000 in purchases in the first three months of opening the account. Earn an additional 5,000 Aeroplan points for each monthly billing period you spend $1,000 in purchases on the card for the first six months.
Regular features and benefits of this card include:
- Annual fee: $599
- Annual fee for additional cards: $199 to share in benefits and earn rewards quicker, or $0 to earn more rewards and forgo the extra benefits
- Earn three times the Aeroplan points per dollar you spend on eligible Air Canada®* and Air Canada Vacations®* purchases.
- Earn two times the Aeroplan points per dollar you spend on eligible dining and food delivery in Canada.
- Earn one Aeroplan point per dollar you spend on all other everyday purchases.
This card offers top tier benefits from the revamped Aeroplan program. Access Air Canada Maple Leaf Lounges, priority check-in and boarding, and a whole lot more.
Offer expiry date: N/A subject to change without notice
BMO eclipse Visa Infinite* Card
Cardholders of the BMO eclipse Visa Infinite* Card can earn up to 40,000 bonus BMO Rewards points in the first year. Receive 25,000 BMO Rewards points when you make at least $3,000 in purchases in the first three months. Get an additional 15,000 points at your 12-month account anniversary. Also, BMO will waive the $120 annual fee for the first year.
Regular features and benefits of this card include:
- Annual fee: $120
- Annual fee for additional cards: $50
- Earn five BMO Rewards points per dollar you spend on groceries, dining, gas and transportation, up to $50,000 in purchases annually. After, earn one point per dollar you spend.
- Earn one BMO Rewards point per dollar on all other everyday purchases.
- Pay with points for as little as $1, or save up your balance for travel, merchandise and more.
The new BMO eclipse Visa Infinite* Card is undoubtedly ready to impress. Not only does it offer basic travel insurance and mobile device insurance, but it also features a $50 lifestyle credit every year. Plus, earn 10% more rewards by adding an authorized user to the account.
Offer expiry date: October 31, 2021
TD Cash Back Visa Infinite* Card
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*Best of Finance Winner: Best Cash Back Credit Card in Canada for 2020
Sign up for the TD Cash Back Visa Infinite* Card to earn 6% cash back everywhere you shop for the first three months, up to $2,000 in total purchases. Plus, TD will rebate the annual fee for the primary and additional cardholders for the first year.
Regular features and benefits of this card include:
- Annual fee: $120
- Annual fee for additional cards: $50
- Earn 3% cash back on eligible grocery and gas purchases, as well as recurring bill payments.
- Earn 1% cash back on all other purchases.
This card’s other great benefits include a Deluxe TD Auto Club Membership, travel insurance, and complimentary Visa Infinite Concierge services.
This offer is not available for residents of Quebec. For Quebec residents, please click here.
Offer expiry date: May 30, 2021
Rates, product information, and rewards estimates are subject to change at any time and do not constitute financial advice. This post was not sponsored. The views and opinions expressed in this review are purely those of RATESDOTCA. Information in this article is accurate as of the date of this posting, December 7, 2020.
This article has been updated.
Hayley Osmond, Freelance writer
Hayley Osmond is an editor and writer in the personal finance space, where she uses her eight years of media and marketing experience to bring content to life. She specializes in money products, including mortgages, home and auto insurance, and credit cards. Hayley holds a Broadcast Journalism diploma from Sheridan College and was awarded the Shaw Media Journalism and Media Award for graduating at the top of her class. Her work has appeared in Global News and diverse digital corporate training materials behind the scenes.
Hayley is passionate about making complex subjects, such as home buying and financial literacy, concise and intriguing. Her work has garnered media coverage from The Globe and Mail, blogTO, Yahoo! News, and CityNews 680 and has been syndicated across other publications.
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