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:
The record-high welcome bonuses of up to 55,000 Avion points on RBC’s suite of Avion credit cards are available until November 27, 2023.
RBC ® has debuted a record-high offer on the WestJet RBC ® World Elite Mastercard , worth up to 700 WestJet Dollars.
Brim’s Air France KLM World Elite Mastercard has an all-time high welcome bonus of up to 60,000 Flying Blue miles, set to expire on November 18, 2023.
After many years reigning supreme as Canada’s best no foreign transaction fee card, the HSBC World Elite Mastercard is no longer open for applications .
CIBC has kept some offers on its Aeroplan cards steady, while others have dropped down from their usual levels.
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.
Business Platinum Card from American Express
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First-Year Value: $1,574
Earn 80,000 MR points upon spending $15,000 in the first three months
Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
And, earn 1.25x MR points on all purchases
Also, receive a $200 annual travel credit
Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
Credits and rebates for business expenses throughout the year with Amex Offers
Bonus MR points for referring family and friends
Qualify for the card as a sole proprietor
Annual fee: $799
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 Business Gold Rewards Card
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First-Year Value: $1,561
Earn 70,000 75,000 MR points upon spending $5,000 in the first three months
Plus, earn 10,000 MR points in each calendar quarter you spend $20,000
Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
Enjoy the exclusive benefits of being an American Express cardholder
Bonus MR points for referring family and friends
Annual fee: $199
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 Gold Rewards Card
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First-Year Value: $1,676
Earn 10,000 MR points upon spending $4,000 in the first three months
Plus, earn an additional 5,000 MR points upon spending $1,000 in each of the first 12 months, up to 60,000 MR points
Also, receive an annual $100 travel credit and a $50 NEXUS credit
Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
Plaza Premium membership with four annual lounge passes
Credits and rebates for daily expenses throughout the year with Amex Offers
Bonus MR points for referring family and friends
Annual fee: $250
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 Business Edge Card
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First-Year Value: $1,419
Earn 45,000 55,000 MR points upon spending $5,000 in the first three months
Plus, earn an additional 1,000 MR points for each of the first 12 months in which you spend $3,000, for an additional 12,000 MR points
Also, earn 3x 10x MR points on food and drinks, ridesharing, gas, office equipment, and electronics, up to an additional 10,000 MR points
Transfer MR points to Aeroplan, Avios, or Marriott Bonvoy
Enjoy the exclusive benefits of being an American Express cardholder
Bonus MR points for referring family and friends
Annual fee: $99
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.
American Express Platinum Card
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First-Year Value: $1,361
Earn 70 ,000 MR points upon spending $10,000 in the first three months
Plus, earn 30,000 MR points upon making a purchase in months 14–17 as a cardholder
Also, earn 2x MR points on all dining and travel purchases
Also, receive an annual $200 travel credit
Also, receive an annual $200 dining credit
Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
Credits and rebates for daily expenses throughout the year with Amex Offers
Bonus MR points for referring family and friends
Annual fee: $799
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 Infinite†
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First-Year Value: $1,080
Earn 15,000 35,000 RBC Avion points † when you get approved for the card
Plus, earn another 20,000 RBC Avion points † upon spending $5,000 in the first six months
Earn 1x 1.25x RBC Avion points † on qualifying travel purchases
Transfer RBC Avion points to British Airways Executive Club and other frequent flyer programs for premium flights †
Minimum income: $60,000 personal or $100,000 household
Annual fee: $120 †
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.
RBC® Avion Visa Platinum†
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First-Year Value: $1,080
Earn 15,000 35,000 RBC Avion points † when you get approved for the card
Plus, earn an additional 20,000 RBC Avion points † upon spending $5,000 in the first six months
Earn 1 RBC Avion point per dollar spent † on travel purchases
Transfer RBC Avion points to British Airways Executive Club and other frequent flyer programs for premium flights †
No minimum income requirement
Annual fee: $120 †
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.
TD® Aeroplan® Visa Infinite Privilege* Card
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First-Year Value: $1,068
Earn 20,000 Aeroplan points † upon first purchase †
Plus, earn an additional 50,000 Aeroplan points † upon spending $7,500 in the first 180 days †
Plus, earn an anniversary bonus of 30,000 Aeroplan points † upon renewing the card for a second year, after having spent at least $12,000 in the first year †
Earn 2x Aeroplan points † on eligible direct Air Canada ® purchases, including Air Canada Vacations ® †
Earn 1.5x Aeroplan points † on eligible gas, groceries, dining, food delivery, and other travel purchases †
Aeroplan preferred pricing, free checked bag, priority check-in and boarding on Air Canada flights †
Unlimited Air Canada Maple Leaf Lounge † access
DragonPass membership † with six free lounge visits per year †
Minimum income: $150,000 personal or $200,000 household
Annual fee: $599
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.
RBC® British Airways Visa Infinite†
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First-Year Value: $899
Earn 15,000 Avios † when you get approved for the card
Then, earn 25,000 35,000 Avios † when you spend $6,000 in the first three months
Also, earn 10,000 Avios † when you renew the card for a second year
Plus, earn 1x Avios † on all purchases
Get a Companion Award eVoucher for an Avios redemption on British Airways flights upon spending $30,000 in a calendar year †
Annual fee: $165 †
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.
TD® Aeroplan® Visa Infinite* Card
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First-Year Value: $840
Earn 10,000 Aeroplan points † upon first purchase †
Plus, earn 25 ,000 Aeroplan points † upon spending $5,000 in the first 180 days of account opening †
Plus, earn an additional 15,000 Aeroplan points † on renewal when you spend $7,500 within 12 months of account opening †
Earn 1.5x Aeroplan points † on eligible gas, groceries, and direct Air Canada ® purchases, including Air Canada Vacations ® †
Preferred Aeroplan pricing and free checked bags on Air Canada ® flights †
Minimum income: $60,000 personal or $100,000 household
Annual fee: $139, rebated for the first year †
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.
RBC® Avion Visa Infinite Privilege†
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First-Year Value: $826
Earn 25,000 35,000 RBC Avion points† when you get approved for the card
Plus, earn an additional 20,000 RBC Avion points † upon spending $5,000 in the first six months
Plus, earn 1.25x RBC Avion points † on all qualifying purchases
Use your rewards for any business class flight with no restrictions on dates, seats, or airlines †
Transfer points to one of four airline partners †
DragonPass membership with six free lounge visits per year †
Minimum income: $200,000 personal or household
Annual fee: $399 †
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.
American Express Aeroplan Business Reserve Card
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First-Year Value: $819
Earn 7,500 Aeroplan points upon spending $3,000 in each of the first six months, up to 45,000 Aeroplan points
Plus, earn a further 5,000 Aeroplan points upon adding a supplementary card with an annual fee at the time of application, up to 10,000 Aeroplan points
Plus, earn a further 45,000 Aeroplan points upon spending $9,000 in months 13–16
Also, earn 3x Aeroplan points on Air Canada purchases
Aeroplan preferred pricing, free checked bag, priority check-in and boarding on Air Canada flights
Unlimited Air Canada Maple Leaf Lounge access
Bonus Aeroplan points for referring family and friends
Qualify for the card as a sole proprietor
Annual fee: $599
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.
Air France KLM World Elite Mastercard
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First-Year Value: $723
Earn 10,000 Flying Blue miles upon first purchase
Plus, earn 10,000 Flying Blue miles upon spending $5,000 in the first year
Plus, earn 10,000 Flying Blue miles upon spending an additional $10,000 in the first year
And, earn 30,000 Flying Blue miles upon renewing the card for a second year
Get 60 XP towards Flying Blue Elite status in the first year, and 30 XP in subsequent years
Earn up to 30x Flying Blue miles per dollar spent with select merchants
Earn 5x Flying Blue miles per euro spent on Air France/KLM flights
Earn 2x Flying Blue miles per dollar spent on food and drink
Minimum income: $80,000 personal or $150,000 household
Annual fee: $132
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.
American Express Aeroplan Card
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First-Year Value: $720
Earn 3,000 Aeroplan points upon spending $1,000 in the each of the first ten months, up to 30,000 points
Plus, earn a further 15,000 Aeroplan points upon making a purchase in months 14–17
Always earn 2x Aeroplan points on Air Canada purchases
Aeroplan preferred pricing, free checked bag on Air Canada flights
Bonus Aeroplan points for referring family and friends
Annual fee: $120
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.
CIBC Aeroplan Visa Business Card
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First-Year Value: $714
Earn 10,000 Aeroplan points upon first first purchase
Plus, earn 10,000
