Here are Rewards Canada's Top 5 Cash Back Credit Card Sign Up offers for the month of March 2022. This is not a 'best' credit card list like our Top Cash Back Credit Card rankings but instead a look at cards that have very good acquisition (welcome/sign up) offers. As always when choosing a card you should always take other factors into account other than the just sign up bonus, but when some of these cards are first year free, they can and do pay off even when you grab them strictly for the sign up rewards.
One change this month as the American Express Cobalt Card went back to its standard welcome bonus offer which means it has dropped down the list from the first spot all the way down to ninth spot.
Here are the Top 5 Cards for this month in order of value:
SimplyCash™ Preferred Card from American Express - 10% cash back on all purchases up to $4,000 (Apply here)
Welcome offer cash back value: $301 ($400 - $99 annual fee)
This card is offering 10% cash back on all spending during the first four months of having the card. The 10% is capped at $4,000 of spending for a maximum return of $400 cash back as your welcome bonus. The annual fee is $99 hence the welcome bonus sign up value of $301. Cash back on this card is awarded once per year as a statement credit.
Minimum Income: N/A
Welcome offer cash back value: $290
This card is offering 10% cash back on all purchases for the first 3 months up to a total spend of $2,000. After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases and Pre-Authorized Payments will continue to earn 6% up to a total spend of $3,500 for the first 3 months. The card does come with a first year annual fee waiver on the primary card and allows to redeem as little as $25 cash back at anytime for a statement credit. You must apply by Sep 5, 2022 and this offer is not available for Quebec
Minimum Income: $60,000 (individual) or $100,000 (household)
Welcome offer cash back value: $250
Minimum Income: $60,000 (individual) or $100,000 (household)
Welcome offer cash back value: $250
Minimum Income: $15,000
Welcome offer cash back value: $200
This card is offering 10% cash back on all spending during the first three months of having the card. The 10% is capped at $2,000 of spending for a maximum return of $200 cash back as your welcome bonus. The card does come with a first year annual fee waiver and the great thing with this card is you can cash out at any time your balance is $1 or more.
Minimum Income: $80,000 (individual) or $150,000 (household)
10% cash back on purchases for the first 3 months (up to $2,000) plus your first year annual fee waived
Welcome offer cash back value: $200
4% cash back on purchases for the first 6 months (up to $5,000) No annual fee ever
Welcome offer cash back value: $200
8. Laurentian Bank Visa Infinite Card
Up to 8 points on each dollar spent up to $2,500 during the first three months at restaurant, grocery and gas stations. No annual fee in the first year.
Welcome offer cash back value: $200
9. American Express Cobalt Card - 50,000 points
In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card.
Welcome offer cash back value: $144 ($300 - $155.88 annual fee)
10. MBNA Rewards World Elite® Mastercard®
20,000 points when you spend $2,000 in the first three months + 10,000 points for enrolling in paperless e-statements. Those 30,000 points are worth $249 in cash back and the card has a $120 annual fee.
Welcome offer cash back value: $129
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