Canada’s 27 Finest Credit score Card Provides for November 2023

If you’re in the market for a new credit card, it’s important to consider the welcome bonus that the credit card is offering. This is a one-time incentive to encourage you to apply for the card, only available in your first year with the card.

The signup bonus is a big part of the value you’ll get from a new credit card, above and beyond its core features, at least in the first year. Often the signup bonus will influence your decision to apply, perhaps even more strongly than the card’s other qualities.

Here are the best credit card offers in Canada for November 2023.

What’s Happening This Month?

There’s been a cornucopia of activity in the Canadian credit card landscape so far this fall. We’ve seen significant changes to some of Canada’s most popular cards, record-high welcome bonuses appearing on others, and the loss of some longstanding popular cards.

Here’s a summary of some of this month’s highlights, including elevated bonuses and key deadlines to be aware of:

Methodology

This list is an opinionated ranking of the best credit card offers in Canada, based on a few key factors that we use to evaluate the appeal of a signup bonus.

First and foremost, we look at the net value you can expect to earn when you apply for the card. This is the value of any first-year bonuses, rebates, and deals, minus annual fees. Rewards points are adjusted to a cash value based on our Points Valuations.

Next, we consider how easy it is to earn the welcome bonus. Cards may get a boost for a low spending requirement, or a long timeline to meet the spending threshold to qualify for the bonus. Meanwhile, they may get dinged for a high spending requirement, merchant category spending requirements, or drawn-out recurring monthly requirements.

All else being equal, we prefer cards with low annual fees. Any card with a first-year annual fee waiver, offering a bonus above a certain value, is a candidate for this list. However, the total first-year value of the offer is a bigger factor, as you can earn points faster and still come out ahead by paying high annual fees for cards with larger signup bonuses.

Finally, we may give a card a slight boost if its offer is significantly better than usual, or if we like the long-term features of the card. However, this list is mostly determined by what you can gain in the first year with a new credit card, compared to other deals available now.

Business Platinum Card from American Express

Not surprisingly, the Business Platinum Card from American Express remains among the cream of the crop. Currently, the card offers Canada’s most sizeable total welcome bonus: 80,000 points upon spending $15,000 in the first three months, and another 40,000 in the second year.

While this premium Amex card comes with a high annual fee of $799, it’s offset by the value of the large signup bonus alone.

Plus, you may even find long-term value in keeping the card thanks to its best-in-class perks, including extensive lounge access, comprehensive travel insurance, $200 annual travel credit, and generous refer-a-friend bonuses. 

In fact, you’ll need to keep it into the second year to earn the second portion of the welcome bonus, which is sizeable enough to warrant consideration.

The current total offer is less than the all-time high we saw in Summer 2022, but it’s also better than what we’ve seen since.

If you’re looking to rack up points quickly, the Business Platinum Card from American Express is without a doubt a great place to start, as long as you can meet the beefy minimum spending requirement.

American Express Business Gold Rewards Card

The American Express Business Gold Rewards Card is also offering a very strong bonus, and it comes with a smaller $199 annual fee to boot. At 75,000 Membership Rewards points, this offer is the standard high-water mark for this card.

It’s simple to earn the bonus, with a spending requirement of $5,000 in three months on any category of purchases. With the offers on other Amex cards down while the Business Gold stays high, now would be a good time to add this one to your collection.

American Express Gold Rewards Card

Earning the full welcome bonus of 70,000 MR points on the Gold Rewards Card requires you to spend $1,000 each month, for the first 12 months. The total amount you need to spend is less than on the Business Platinum and more than the Business Gold, and you’ll need to keep track of it every month.

The 10,000 points upon spending $4,000 in the first three months isn’t great, but the total welcome bonus over the course of the year adds up, and is undoubtedly attractive.

On the other hand, since you’ll have to spend at least $13,000 spread out over the first year, you’d probably be better off looking elsewhere, especially if you can get more points sooner with smaller spend with the Business Gold.

However, if you’re somebody who tends to max out the 5x earning rate on your Cobalt every year, then this could serve as a decent backup.

American Express Business Edge Card

With a low annual fee of $99, this card is a good option if you’re looking to rack up points at a low cost.

Still, you’ll face the same $5,000 spending requirement as the Business Gold Rewards Card, but with a smaller welcome bonus.

Note that you’ll need to sustain spending of $3,000 per month to earn the final 12,000 MR points, a prospect which I’d recommend forgoing in favour of better ways to earn points on other cards.

American Express Platinum Card

The personal Platinum Card is currently offering a solid welcome bonus of 100,000 Membership Rewards points. As we saw with the Business Platinum, you’ll earn the lion’s share in the first year, with the second batch awarded after you’ve paid the $799 annual fee once more.

However, there’s a fairly hefty spending requirement of $10,000 in the first three months to earn 70,000 points. If that doesn’t pose a barrier, then now could be a good time to add a chunk of metal to your wallet.

The offer isn’t the highest we’ve ever seen, but a the range of ongoing benefits on this card, you may also find value in keeping it around for a while.

If you apply before the end of 2023, you’ll benefit from a $200 dining credit to use before the end of 2023, another $200 dining credit to use in 2024, and the $200 annual travel credit to use in your first year.

Now would be an excellent time to add this card to your wallet, for the welcome bonus and a double-dipped dining credit in the first year as a cardholder.

RBC^® Avion Visa Infinite^† (Ending Soon)

After a brief reprieve with a lower welcome bonus, the record-high offers on the suite of RBC^® Avion cards are back, but only until later this month.

Fortunately, the bulk of the points are awarded upon approval, and the second chunk of 20,000 RBC^® Avion points is unlocked upon spending $5,000 in the first six months. That averages out to $833 per month, or faster if you put a few large purchases on the card.

While you’ll earn more points more quickly on day-to-day spending with Amex cards and Aeroplan points, RBC^® Avion cards are a great way to expand into the Oneworld airline alliance.

You can use your Avion points to supplement your Amex MR transfers to British Airways Avios or Cathay Pacific Asia Miles, or for the unique ability to convert to American Airlines AAdvantage miles. You can also find value in the Air Travel Redemption Schedule. 

The offers on the Avion cards are valid for applications through to November 27, 2023, so act soon if you haven’t taken advantage of this offer.

RBC^® Avion Visa Platinum^†(Ending Soon)

If your income doesn’t qualify for the RBC^® Avion Visa Infinite^†, you can also apply for the RBC® Avion Visa Platinum^†, with the same offer and perks.

Just make sure you apply before November 27, 2023, to take advantage of the current offer.

TD^® Aeroplan^® Visa Infinite Privilege^* Card

After a long run at the top of this list with a record-high offer, TD’s premium Aeroplan card has dropped a few positions with a lower welcome bonus of up to 100,000 points^†, down from 115,000 points.

As a plus, there’s no monthly requirement to keep track of. Instead, the total required spending is quite high, at $12,000^†, but this is mitigated by the fact that you have a full year to meet this threshold.

Furthermore, because of the way the spending requirement is structured, you’ll receive a big batch of 70,000 points^† before you’ve hit the full $12,000.

This offer is set to expire on January 3, 2024,^† which leaves plenty of time to consider its merits. 

RBC^® British Airways Visa Infinite^†

RBC^® has a boosted offer on its British Airways co-branded card. While the value is quite strong, the spending requirement is higher and on a shorter timeframe than the Avion cards.

Also, Avios are harder to use and more restrictive than Avion points. As Avion can be transferred 1:1 to Avios, I’d always opt for flexibility first, and only apply for the more limited card after exhausting other options.

TD^® Aeroplan^® Visa Infinite^* Card

The TD^® Aeroplan^® Visa Infinite^* Card is routinely one of our favourite mid-tier Aeroplan cards.

The latest offer for up to 50,000 Aeroplan points^† is down from the all-time-high welcome bonus of up to 70,000 Aeroplan points for Summer 2023. While the spending requirement is high, it’s also spread out over a full year, so you should have no trouble reaching it.

In order to receive the third dose of points, you’ll need to pay the annual fee for the second year^†. However, this new offer comes with an annual fee rebate for the first year,^† and even then, the boost in points should make it worthwhile for the second year, too.

You have until January 3, 2024^† to consider the offer, which is amongst the best for mid-tier Aeroplan cards available in Canada. 

RBC^® Avion Visa Infinite Privilege^†

Like its junior counterparts, RBC’s top-tier Avion card is offering up to 55,000 Avion points as a total welcome bonus.

This card is knocked down the list for offering the same number of points at a higher annual fee. It’s still an okay value proposition despite the increased costs, but it wouldn’t be my first choice for an Avion card at this time.

American Express Aeroplan Business Reserve Card

The latest offer on the business variant of Amex’s premium Aeroplan card has a high monthly spending requirement to unlock the first batch of points, and you’ll have to pay for supplementary cardholders to get a further boost.

You’ll also have to eat the annual fee twice, and spend an additional $9,000 in three months during the second year, to unlock the full value of the welcome bonus.

Overall, you’re presented with a rather onerous task to extract value from the card with this offer. It’s a lot of work for 55,000 Aeroplan points in the first year, so your efforts are likely better spent elsewhere for the time being.

Air France KLM World Elite Mastercard (Ending Soon)

In September, we saw the first-ever welcome bonus in the form of Flying Blue miles appear on Brim’s Air France KLM World Elite Mastercard.

The structure of the offer is interesting, too, as you get 10,000 Flying Blue miles upon first purchase, and then again at the $5,000 and $10,000 thresholds in the first year. The last part of the welcome bonus comes in year two, which is certainly worth paying the $132 annual fee for.

If you’re in pursuit of status with Air France or KLM, the welcome bonus also includes 60XP, which you can use to leapfrog towards elite status.

Flying Blue has been adding features, and recently reduced business class award prices on many routes. It’s rare to see a program adding so much value, and this card would be a great addition to your wallet while the welcome bonus is still available.

Be sure to apply before November 18, 2023, which is when the offer is set to expire.

American Express Aeroplan Card

The American Express Aeroplan Card is yet another mid-tier Amex with a respectable welcome bonus.

Despite its lower annual fee, there’s a modest monthly spending requirement, which may be a minor hassle to track for limited gain.

While the value of the offer is quite strong, I’d sooner choose an MR card to earn flexible points in a more straightforward manner, or another Aeroplan card with a simpler structure.

CIBC Aeroplan Visa Business Card

CIBC’s Aeroplan business card is a tale of two offers: an achievable portion up-front for good value, followed by an excessive spending requirement for a meagre prize.

For the first part alone, the card has a first-year annual fee waiver and a reasonable spending requirement. Even without considering the long-term spending threshold, you could do a lot worse for a new business credit card.

For what it’s worth, the total spending threshold was reduced from $65,000 to $35,000 for the latest offer.

TD First Class Travel^® Visa Infinite^* Card

TD’s in-house rewards cards make for a great stat-padder when you’re looking for general travel value outside airline or hotel loyalty programs.

The previous offer on the TD First Class Travel^® Visa Infinite^* Card was for 100,000 TD Rewards Points in the first year; however, the Fall 2023 offer has boosted that to up to 115,000 TD Rewards Points,^† with an annual fee rebate in the first year.

That’s worth a fixed value of up to $575 towards any travel booking via Expedia^® for TD^†. Bear in mind that the spending requirement is a bit higher than what we’ve seen before, at $5,000 spent in the first six months.

However, you’ll also get a $100 annual travel credit^†, which goes a long way to improving the value proposition on the card, whether in the first year or long-term.

The new offer for this card ends on January 3, 2024.

American Express Cobalt Card

The American Express Cobalt Card is a favourite for everyday earning, with an unbeatable 5x rate on groceries and restaurants. The card is arguably more attractive for its keeper appeal than it is for its signup bonus.

Still, the value of the welcome offer is worth applying for, even with a baseline welcome bonus. There’s never a bad time to add a Cobalt Card to your rotation.

American Express Aeroplan Reserve Card

The current offer for the American Express Aeroplan Reserve Card has a lower total bonus than its business variant above.

However, the spending requirements are also lower, which you may find more appealing. Still, with a monthly spending requirement, you do have to make sure you hit the threshold in each of the first six months to achieve the full potential in the first year.

Keep in mind that you’ll also have to pay to add two supplementary cardholders to maximize the offer, which isn’t a good deal.

For the time being, you’re likely better off looking to another premium Amex card, such as the American Express Platinum Card, for a similar boost of points with a more straightforward structure.

CIBC Aeroplan Visa Infinite Privilege Card

CIBC’s top-tier Aeroplan card is offering the most appealing bonus from the bank’s personal Aeroplan cards, with 50,000 points achievable for spending $6,000 in the first four months. 

This alone is quite good value for the annual fee, and a high one at that.

If you do decide to keep the card long-term for its premium benefits, there’s a second-year points bonus which is enough to offset your second annual fee, as long as you charge at least $25,000 to the card in year one.

By doing so, you’ll also have an Annual Worldwide Companion Pass in your Aeroplan account.

CIBC Aventura^® Visa Infinite* Card

The CIBC Aventura^® Visa Infinite* Card is offering a decent bonus right now, with up to 40,000 Aventura Points available upon spending $3,000 in the first four months. This is down from the previous offer of 45,000 points.

While Aventura Points aren’t necessarily the most tantalizing currency, there’s currently a promotion to redeem against any travel expense at an elevated valuation of 1.25 cents per point, which has been extended through to March 31, 2024.

Get this card and redeem the bonus against travel expenses that are otherwise difficult to use points for, such as independent hotels, short-term rentals, cruises, and car rentals.

CIBC Aeroplan Visa Infinite Card

After a solid run higher up on this list, the CIBC Aeroplan Visa Infinite Card has dropped down into third place amongst the core Aeroplan co-branded credit cards, with the lowest welcome bonus in years.

This offer has a higher minimum spending requirement than before, and you have to renew the card for a second year to receive the full welcome bonus. You’ll also have to spend at least $10,000 in the first year, which is higher than its TD counterpart.

On the plus side, the card is offering a first-year annual fee rebate, which is a common and popular feature of its welcome bonus.

As before, there’s no published expiry date for this offer. It could be worth looking elsewhere for now, perhaps to the CIBC Aeroplan Visa Infinite Privilege Card, as this isn’t the strongest offer we’ve seen.

CIBC Aventura^® Gold Visa Card

The offer on the CIBC Aventura^® Gold Visa Card is nearly identical to the offer on its Visa Infinite counterpart, albeit with a lower income requirement and 5,000 fewer Aventura points available. You should have no trouble capitalizing on either offer, if not both.

TD^® Aeroplan^® Visa Platinum^* Card

With a signup bonus of up to 20,000 Aeroplan points^†, an annual fee rebate for the first year^†, and a low income requirement, this card is one of the best ways for beginners early in their credit journey to begin collecting meaningful sums of Aeroplan points.

If you’re just getting your feet wet with high annual fees, and can’t be approved for higher-income cards, this card is as good a starting point as they come.

Unlike the other TD Aeroplan credit card offers, this one is set to expire on March 4, 2024.

Marriott Bonvoy American Express Card 

The Marriott Bonvoy personal card is currently offering its standard bonus of 55,000 Bonvoy points. 

The card struggles to rank higher due to the middling value of the Bonvoy program. It’s getting harder to extract the full value of the points unless you have a specific redemption in mind.

Your best bet is to maximize the welcome bonus and then burn the points on a valuable redemption as quickly as possible. Then, keep it in the sock drawer for the 35,000-point Free Night Award each year.

Scotiabank^® Gold American Express^* Card

Like the Cobalt Card, the Scotiabank^® Gold American Express^* Card is known more for its keeper prowess than for its outstanding signup offers. You’ll earn 5x Scene+ points on eligible grocery and restaurant purchases^†, or 6x points at Empire grocery stores.^†

On the other hand, the welcome bonus is solid, currently offering 20,000 Scene+ points^† with a low spending threshold, or a total of up to 40,000 points^† with higher spending, which is worth up to $400.

Scene+ points are great for general travel expenses at fixed value, and along with the Scotiabank Passport Visa Infinite Card, the Scotiabank Gold American Express Card is a top contender for a no foreign transaction fee travel card. 

Marriott Bonvoy Business American Express Card

The business variant of Amex’s Bonvoy cards takes a bit of a hit compared to the personal card. Even with the same welcome bonus, its annual fee is higher than that of the personal card.

At the same time, it’s worth having two of these cards as keeper cards, due to the Free Night Award you can earn with both.

RBC^® Avion Visa Infinite* Business

The RBC^® Avion Visa Infinite* Business card has an standard bonus right now, good for 25,000 Avion points.

As a big plus, the card has no spending requirement. With a reasonable annual fee for a high-end business credit card, it’s a valuable way to boost your Avion balance, and worth keeping around for its 1.25x base earning rate.

You’ll likely need to have a registered business with documentation to be approved for an RBC business credit card.

Conclusion

We hope that this list will help guide you as you select your next card application, with an emphasis on the value of the signup bonus.

Feel free to view all credit cards to sort and filter by your own criteria as you compare other options. You can also book a Points Consulting call with the Prince of Travel team if you’d like some personalized advice.

^† Terms and conditions apply.