1.Scotia Momentum Visa Infinite
Scotiabank
- 4%Cash back on groceries and recurring payments
- 2%Cash back on gas and daily transit
- 1%Cash back on all other purchases
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).
Earn 4% cash back on groceries and recurring payments, 2% on gas and daily transit, and 1% on all other purchases.
20.99%
22.99%
The Scotia Momentum Visa Infinite stands out as the top choice because it offers a remarkable 10% cash back on all purchases for the first three months, making it an excellent option for new cardholders looking to maximize their rewards quickly.
Pros:
- High cash back on groceries and recurring payments
- No annual fee in the first year
Cons:
- Annual fee after the first year
- Spending limits on higher cash back categories
- 4%Cash back on groceries, gas, and EV charging
- 2%Cash back on dining, transportation, and recurring payments
- 1%Cash back on all other purchases
Earn 10% cash back for the first 4 months, up to $3,000 in spend.
Earn 4% cash back on groceries, gas, and EV charging, 2% on dining, transportation, and recurring payments, and 1% on all other purchases.
21.99%
22.99%
What sets the CIBC Dividend Visa Infinite apart is its impressive cash back rates, particularly the 4% on groceries and gas, making it a top choice for those who prioritize everyday spending.
Pros:
- High cash back on essential spending categories
- First-year annual fee rebate
Cons:
- Requires a high income for eligibility
- Annual fee after the first year
3.American Express Cobalt Card
American Express
- 5xPoints on eats/drinks
- 3xPoints on streaming
- 2xPoints on transit/gas
- 1xPoints on other purchases
Earn 1,250 points for each monthly billing period in which you spend $750 on your Card.
Earn 5x points on eats/drinks, 3x on streaming, 2x on transit/gas, and 1x on other purchases.
21.99%
21.99%
This card shines for its exceptional earning rates on dining and groceries, making it a favorite among foodies and frequent diners who want to maximize their rewards.
Pros:
- High earning potential on dining and groceries
- Flexible rewards redemption options
Cons:
- Monthly fee structure can be costly
- Limited to specific spending categories for maximum rewards
4.American Express Aeroplan Reserve Card
American Express
- 3xPoints on Air Canada purchases
- 2xPoints on dining
- 1.25xPoints on other purchases
Earn 60,000 Aeroplan points after spending $7,500 in the first 3 months, plus 25,000 points after spending $2,500 in month 13.
Earn 3x points on Air Canada purchases, 2x on dining, and 1.25x on other purchases.
21.99%
21.99%
The standout feature here is the extensive travel benefits, including unlimited lounge access and a generous welcome bonus, making it ideal for frequent travelers.
Pros:
- Extensive travel perks including lounge access
- High points earning potential on Air Canada purchases
Cons:
- High annual fee
- Requires significant spending to maximize rewards
5.American Express Platinum Card
American Express
- 5xPoints on flights/prepaid hotels
- 1xPoints on other purchases
Earn 100,000 Membership Rewards points after spending $10,000 in the first 3 months.
Earn 5x points on flights/prepaid hotels, 1x on other purchases.
21.99%
21.99%
This card is designed for individuals who travel frequently and can utilize the extensive luxury perks, making it a top-tier choice for premium travelers.
Pros:
- Extensive travel and lifestyle rewards
- Comprehensive airport lounge access
Cons:
- Very high annual fee
- Requires significant spending to maximize benefits
6.Scotiabank Platinum American Express
Scotiabank
- 2Scene+ points on all purchases
Earn 60,000 Scene+ points after spending $3,000 in the first 3 months, plus 20,000 points after spending $10,000 within the first 14 months.
Earn 2 Scene+ points per $1 on all purchases.
9.99%
9.99%
A key differentiator is its low interest rate and comprehensive travel benefits, making it a solid choice for those who travel frequently but want to avoid high fees.
Pros:
- Low interest rate
- No foreign transaction fees
Cons:
- Annual fee may be high for casual users
- Limited rewards on non-travel purchases
Final Words
As you consider the best credit card signup bonuses this February, remember that the right choice can enhance your financial strategy. Take time to compare options based on your spending habits and preferences to ensure you make an informed decision that maximizes your rewards.
Frequently Asked Questions
The Scotia Momentum Visa Infinite card offers a welcome bonus of Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). This is a great way to maximize your rewards during your initial spending period.
With the CIBC Dividend Visa Infinite Card, you can earn 4% cash back on groceries, gas, and EV charging, 2% on dining, transportation, and recurring payments, and 1% on all other purchases. This tiered cash back structure allows you to maximize rewards based on your spending habits.
The American Express Cobalt Card allows you to earn 5x points on eats/drinks, 3x on streaming, 2x on transit/gas, and 1x on other purchases. This diverse rewards structure is ideal for individuals who frequently dine out or use streaming services.
The Scotia Momentum Visa Infinite card has an annual fee of CA$120. This fee is common for premium cards that offer higher rewards and additional benefits.
To choose the best credit card, consider your spending habits, the types of rewards that interest you, and any fees associated with the card. Compare different cards based on their welcome bonuses, reward rates, and other benefits to find one that aligns with your financial goals.
Yes, both the Scotia Momentum Visa Infinite and CIBC Dividend Visa Infinite cards have spending requirements to earn their welcome bonuses. For example, the Scotia Momentum card offers a bonus of Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases), while the CIBC Dividend card offers Earn 10% cash back for the first 4 months, up to $3,000 in spend.
When evaluating a credit card's rewards program, consider the reward rate, the categories in which you'll earn rewards, and how easily you can redeem those rewards. Additionally, look for any restrictions or expiration policies that might affect your ability to use your rewards.
