Sign-Up Bonus Credit Cards

Sign-up bonus credit cards provide attractive offers featuring bonus points, complimentary flights, $0 annual fees, promotional interest rates and other perks.

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Although sign-up bonuses may initially draw you to a credit card, it’s apparent that the interest rates on additional purchases and card fees are higher compared to other credit cards that don’t offer sign-up bonuses. Some credit cards will waive card fees as a sign-up bonus for a specific period of time, but then may not offer as many rewards, while others offer 0% interest for a specific period on balance transfers.

If you’ve found a sign-up bonus offer and feel that you can utilize that offer effectively while saving money or gaining rewards that you will use, a sign-up bonus can be a great option. However, you should spend a fair amount of time researching and weighing up the pros and cons of the sign-up bonus card, as you could end up paying fees and interest rates that are higher than your current credit card.

Scotiabank Gold American Express Card

Scotiabank Gold American Express Card

19.99 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

Scotiabank Gold American Express Card

Apply today and receive a bonus of 30,000 Scotia Rewards points in the first of card membership.

  • Purchase interest rate: 19.99%
  • Cash advance rate: 22.99%
  • Balance transfer rate: 22.99%
  • Annual fee: $120
  • Credit rating: 650+ recommended credit score
  • Minimum age: Age of majority in province/territory of residence
  • Minimum income: $12,000
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Compare credit cards with bonus points on sign-up

Name Product Welcome Offer Reward Purchase Interest Rate Cash Advance Rate Annual Fee
Earn 2,500 points with minimum spend of $500 for each billing period. Up to 30,000 bonus points in your first year.
Earn 5x points on eligible eats and drinks, including groceries and food delivery, 2x points on transit, gas, travel purchases, and 1 point on all other spend.
19.99%
22.99%
$120
Earn 5x the points on eligible eats and drinks, including groceries and food delivery, 2x points on transit, gas, travel purchases, and 1 point on all other spend.
Get up to 40,000 Aeroplan Miles and pay no Annual Fee for the first year. Conditions apply. Ends 1 December 2019.
Earn 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and aircanada.com purchases and 1 mile for every $1 spent elsewhere. T&C's apply.
19.99%
22.99%
$120
Apply by December 1, 2019 to get an Annual Fee Rebate for the Primary Cardholder for the first year and earn up to 40,000 Aeroplan Miles (equivalent to 2 premium economy short-haul roundtrip flight rewards).
Offers 35,000 BMO Rewards bonus points with minimum spend of $3,000 in the first three months of card membership. Ends 31 October 2019.
Earn 3 BMO Rewards points per $1 spent on dining, travel and entertainment purchases.
19.99%
22.99%
$0 annual fee for the first year ($150 thereafter)
Offers 35,000 BMO Rewards bonus points upon minimum spend of $3,000 in the first three months of card membership. Ends 31 October 2019.
Earn up to 35,000 bonus Scotia Rewards points in your first year of card membership.
Earn 2 Scotia Rewards points per $1 spent on eligible grocery stores, dining, entertainment purchases, and daily transit. Earn 1 Scotia Rewards points per $1 spent on all other eligible purchases.
19.99%
22.99%
$139
Earn 2 Scotia Rewards points per $1 spent on eligible grocery stores, dining, entertainment purchases, and daily transit. Earn 1 Scotia Rewards points per $1 spent on all other eligible purchases. Plus, an extra 10,000 points with a min. annual spend of $40,000 on your card.
Get up to 90,000 TD Points and pay no Annual Fee for the first year. Conditions apply. Ends 1 December 2019.
Earn 9 TD Points per $1 in travel booked online through Expedia for TD, and 3 points/$1 spent elsewhere.
19.99%
22.99%
$120
Apply by December 1, 2019 to get an Annual Fee Rebate for the Primary Cardholder for the first year and earn up to 90,000 TD Points (a travel value of $450 when you book travel purchases through ExpediaForTD.com).

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Cards to consider with cash back offers

Name Product Welcome Offer Purchase Interest Rate Cash Advance Rate Cash Back Rate Annual Fee
Receive 5% cashback (up to $300 cashback) in the first six months.
19.99%
22.99%
2%
$99
Offers 1.99% balance transfer rate in the first 6 months to new cardmembers. No balance transfer fee upon application.
Earn 2.5% cash back (up to $150 cash back) in the first three months.
19.99%
22.99%
1.25%
$0
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
First year annual fee waived for new cardholders. Ends 31 October 2019.

20.99%
22.99%
4%
$0 annual fee for the first year ($120 thereafter)
Save with no annual fee for the first year. Ends 31 October 2019.
Receive a 7.99% introductory interest rate on all spend for the first six months. Ends 31 October 2019.
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
1%
$0
Get 1% cash back on payments made at gas stations, grocery stores and pharmacies, including recurring payments.
Offers a 7.99% introductory interest rate on all spend for the first 6 months. Ends 31 October 2019.
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
1%
$0
Receive 1% cash back on payments made at petrol stations, supermarkets, pharmacies and recurring bill payments.

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*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Things to consider with sign-up bonus credit cards

  • What factors should be considered with sign-up bonus credit cards?

Interest rates are always one of the most important factors to consider since lower rates over the long run could save you a considerable amount of money. Therefore, you’ll need to be sure that you understand the interest rate offered, and if low interest is only charged during specific time periods (as is the case with promo interest rate credit cards).

Where cards are concentrating on frequent purchase rewards as the main special offer, be sure that the purchase rate is sustainable or that you pay your credit card in full every month so as not to pay interest. Looking at the long-term impact of acquiring a new credit card is far safer than only going for the immediate short-term rewards.

  • Is a sign-up bonus credit card right for you?

The answer to this question will depend on your individual circumstances. For example, if you have a high interest credit card with over $10,000 owing currently which you plan on paying off in less than a year, then a 0% transfer balance card for 9 months would be an ideal option.

If you spend large and/or frequent amounts of money every month on your credit card and pay the balance off every month on time, then frequent purchase specials will give you additional benefits for something you do anyway. Some people may already have a great card that has low interest and low fees, and simply switching cards for a sign-up bonus may not be worth it.

  • How and where can I apply for my sign-up bonus credit card?

The easiest way to apply for a sign-up bonus credit card is to look at the existing options available in the lists above. After comparing the credit cards and identifying the best sign-up bonus credit card for you, apply online for the card and complete the application process. Ensure that you meet the eligibility requirements and have the necessary information available in order to apply. If you have any questions regarding the card, you should contact the credit card provider before you apply, in case the card is not right for you.

  • Once approved, how long does it take before I can receive the sign-up bonus credit card?

After approval, the specific bank or credit card provider will mail your new sign-up bonus credit card, which you should receive within a week. For security purposes, the credit card will not be activated until it has been safely received by you. You can call the number on the back of the card to activate your new credit card. As soon as your credit card has been activated, you will be able to use it immediately and earn rewards.

Conclusion

A sign-up bonus credit card can be a great way to use your purchasing power to your benefit, as it can get you great rewards or save you from high interest rates. Credit card companies will always make money so, no matter how good a deal looks, be sure you understand all of the fine print, fees, terms and conditions. It should always be your goal to eliminate or reduce credit card debt, so don’t be tempted to get in further debt for the sake of a sign-up bonus unless it truly serves your financial needs.

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