Best Credit Card Offers & Promotions This Fall
Summer is over, but some credit cards are upping the ante to make this coming fall a memorable one! Check out our roundup of the best new promotions, new cards, and overlooked gems in Canada.
Best Promotion: BMO AIR MILES World Elite Mastercard
The offer details are valid at the time of writing and might be subject to change.
BMO regularly sends us juicy offers, and they’re not disappointing this month, either. The new welcome offer has been pumped up from 2,000 AIR MILES to 3,000, plus a Companion Flight rebate. As summer turns to fall and temperatures drop, you can combine your 3,000 free miles with about $2,000 of monthly spending to fly for FREE from:
- Quebec to the Caribbean
- British Columbia to sunny California
- Ontario to Florida
Additionally, there’s a limited-time waiver on the $120 annual fee for the first year. Add in that savings and you can live a little larger on your next vacation.
Featured Cards: the MBNA Rewards & Rewards World Elite Cards
MBNA has fantastic offers for every type of income. Their Rewards World Elite card is called the All-In-Wonder, and for good reason: it might be the easiest way for Canadians to accrue and redeem rewards. Here are some of the benefits:
- 10,000 bonus points ($100 value) awarded upon first eligible purchase
- 2 points earned for every $1 spent
- Redeem points for major ticket items like the Health Smart Steamer, 4-person inflatable boat, an iPad Mini, or Coleman 4-person tent, or for flights and gift cards.
- No limit on points earned
Note that MBNA Rewards World Elite is only available for individuals with an annual income of at least $80,000, or household income of $150,000. Lower-income Canadians should look toward the MBNA Rewards Card instead. It’s a great option for those of less financial means, as it has no minimum income requirement whatsoever. Here’s what it offers:
- 1 MBNA point for every dollar you spend
- 5,000 bonus points after first eligible purchase, worth $50 if you trade it in for cash back or travel perks
- No annual fees
- Points can be redeemed for all the things you love, like travel, merchandise, gift cards from some of the best retailers in Canada, making charitable donations to causes you believe in, and even just getting some cash back for yourself
- Interest-free grace period of 21 days
New Card on the Block: RBC Cash Back Preferred World Elite Mastercard
RBC is offering a new cash back card with some highly attractive features to take note of. Perhaps the most impressive aspect of the card is its cash back offer during a 6-month intro period: 1.75% cash back on EVERYTHING. It doesn’t get much more flexible than that. And the cash back rate only drops to 1.5% after the intro period ends. And again, on everything.
The card also gives new members other benefits such as:
- Receive unlimited cash back, no matter how often you make purchases
- Enjoy unlimited WiFi with a Boingo connection (they have one million hotspots around the world)
- Get advanced purchase protection for up to four months after a purchase
Plus, cardholders will receive an extended warranty package that triples the manufacturer’s original Canadian warranty. That’s huge. Cardholders can also protect their rental car with Auto Rental collision/Loss Damage Insurance via the new RBC Cash Back Preferred World Elite MasterCard. A juicy cash back policy + all those other perks? RBC is pulling ahead in August.
*ANOTHER* New Card on the Block: TD Cash Back Visa Infinite®
TD’s Visa Infinite® is also making waves fast with features like:
- For the first three months, you get a colossal welcome bonus of 6% cash back for every dollar spent on gas, gas station services/products, grocery purchases, and PAP rebates (regular purchases like monthly subscriptions, memberships, and other recurring payments)
- A post-promotional 3% cash back rate on all of the above
- First year annual fee waiver
- 1% on all other purchases throughout the promotional period and afterward
Another impressive feature is that the TD Cash Back Visa Infinite® rewards never expire as long as your account is open and remains in good standing. That’s almost unheard of in Canadian credit card offerings.