We usually sign up for credit cards because of special features and benefits – from cash-back earning rates to travel perks to balance transfer offers. And one feature that may make or break your decision between one credit card or another is the welcome promotion – a special bonus that adds value for new credit cardholders.

You’ve likely come across credit card promoters trying to sell you on a card for a free t-shirt or kitchen appliance as a welcome gift, but great sign-up offers come in much grander forms.

A lump-sum of cash-back or rewards points, free vouchers for airport lounge entry or companion flights, first-year annual fee exemptions…

Many credit card issuers give away these bonuses as soon as your account is opened, no questions asked. However, the most lucrative bonuses may require you to fulfill specific criteria first (like spending a certain amount or making an initial purchase).

Moreover, these promotions generally run for a limited time, so before it’s too late, check out the best credit card welcome bonus offers for this month: 

Tangerine Money-Back Credit Card

Apply for the Tangerine Money-Back Credit Card today and earn 4% Money-Back Rewards in up to three spending categories of your choice for the first three months of card membership.

Upon signing up for the card, you get to choose two special spending categories, but if you opt to have your Money-Back Rewards deposited into a Tangerine Savings Account, you get to choose one more spending category. All other purchases qualify for 0.5% cash-back too.

Once the sign-up bonus period has ended, the earning rate returns to normal (generally, this card offers 2% cash-back in your chosen spending categories).

Spending categories include:

• Grocery
• Restaurants
• Drug store
• Entertainment
• Hotel/Motel
• Gas
• Public transportation and parking
• Furniture
• Home improvement
• Recurring bill payments

The great thing about this card is that it’s flexible – you can choose the spending categories that best suit your spending habits – if you have a big home reno project coming up soon, you can choose the home improvement category. Or if you eat out a lot, you can choose the restaurant category.

You can also change your spending categories whenever you please. There’s no limit on the amount of cash-back you can earn, and there’s also no annual fee, meaning there’s no financial obligation on your end to earn rewards!

And lastly, if you have a balance you owe on another credit card with a higher interest rate, you can take your time to pay it off if you choose to transfer that balance to a Tangerine Money-Back Credit Card. New cardholders currently get a promotional interest rate of 1.95% for six months on balance transfers made within the first 30 days of opening the account (and 19.95% on any unpaid balances after six months). A balance transfer fee of 1% on the amount transferred does apply.

Sign-Up Bonus Expiry Date: July 31, 2019

Scotia Momentum^® Visa Infinite* Card

Apply for the Scotia Momentum^® Visa Infinite* Card and earn 10% cash-back on all purchases for the first three months of card membership, up to $2000 in total purchases.

This all-encompassing high earning rate is extraordinary for a cash-back card, considering the fact that this is a card that only earns cash-back at a premium rate in specific categories – not on all purchases. After the welcome offer, this card earns 4% on eligible gas/grocery purchases, 2% on eligible drug store purchases and recurring bill payments, and 1% cash-back on all other eligible purchases.

Better yet, the $99 annual fee is waived for the first year. According to Scotiabank, this welcome offer is worth $299 alone. 

Sign-Up Bonus Expiry Date: June 30, 2019 

MBNA True Line^® Mastercard^®

This card’s welcome bonus rewards you in savings and debt relief instead of points or cash-back. Apply for the MBNA True Line^® Mastercard^® and get a 12.99% interest rate on balance transfers. A 3% balance transfer fee does apply (minimum fee of $7.50 CAD), but thankfully, this card has no annual fee. It’s a small price to pay for a break on interest and a chance to catch up on debt repayment.

The interest rate on everyday purchases is also pretty low – 12.99%.

BMO^® CashBack^® World Elite^®* Mastercard^®*

While the typical cash-back earning rate on this card is somewhat meagre (1.5% on all purchases), the welcome bonus may change your mind on this card.

Sign up for the BMO^® CashBack^® World Elite^®* Mastercard^®* and get 5% cash back in the first three months and the $120 annual fee waived in the first year.

And as a premium option, this card also comes with its fair share of other perks. Cardholders get a complimentary membership to Mastercard Airport Experiences provided by LoungeKey, complimentary roadside assistance, and a discount on car rentals.

Additionally, the new BMO CashBack redemption program features a range of options so you can choose when and how you redeem your cash-back – as a statement credit, direct deposit to your BMO chequing or savings account, or as a deposit into your BMO InvestorLine account.

Sign Up Bonus Expiry Date: November 13, 2019

BMO^® World Elite™ Mastercard^®*

Sign up for the BMO^® World Elite™ Mastercard^®* and be eligible for 35,000 welcome points after you spend $3,000 in the first three months as well as the $150 annual fee waived in the first year. This card also comes with a simple, yet more-than-decent earning rate on rewards. Get three BMO Rewards points for every $1 spent on travel, dining and entertainment purchases, and two points for every $1 spent everywhere else.

Points can then be used to travel in style – you can fly on any airline with no blackout dates, and cover all flight charges and taxes with BMO Rewards Points. The card also gives you free access to Mastercard Airport Experiences provided by LoungeKey, plus four annual complimentary passes (a $140/year value).

Sign Up Bonus Expiry Date: October 31, 2019