Top 5 Cash Back Credit Card Sign Up offers for December - These cards provide the best value out of their welcome bonuses

 
Here are the Rewards Canada Top 5 Cash Back Credit Card Sign Up offers for the month of December 2020! 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. This month we see six of the seven cards offering the first year free. Oh and this month we had to go with 7 cards instead of our usual 5 cards due to the four of them all offering the same welcome bonus.

I had to update this list as I totally forgot about the National Bank of Canada World Elite Mastercard offer I wrote about back at the start of November. It has been added to the list in the #3 spot!

Here are the Top 5 Cards for December 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. This is the only card on the list that does not have its first year annual fee waived. That 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

HSBC World Elite Mastercard - 100,000 points (Apply here)
Minimum value: $300
This card offers a welcome bonus of 100,000 points, split between 20,000 on first purchase and 80,000 more when you spend $5,000 within 180 days of getting the card. The annual fee of $149 is waived in the first year as well meaning these points come to you at no cost other than card spend. The card has a lot of other good benefits like no foreign transaction fees to consider as well! Those 100,000 points are worth $300 in cash back rewards but those points can also be used for $500 on travel credits or converted to British Airways Executive Club, Cathay Pacific Asia Miles or Singapore Airlines KrisFlyer.
Minimum Income: $80,000 personal or $150,000 household or $400,000 in assets at any Canadian Financial Institution

NBC World Elite Mastercard  - $300 cash back when you spend $4,000 (Apply here)
Welcome offer cash back value: $300
This card is offering $300 cash back when you spend $4,000 on the card in the first three month and no annual fee on the primary card in the 1st year. The cashback will be credited to your account on the fourth or fifth statement after your account is opened. This offer runs until Jan 31, 2021
Minimum Income: $80,000 (individual) or $150,000 (household)

ManulifeMONEY+ Visa  Infinite  - 10% cash back on grocery purchases up to $2,500 (Apply here)
Welcome offer cash back value: $250

This card is offering 10% cash back on grocery spending during the first three months of having the card. The 10% is capped at $2,500 of spending for a maximum return of $250 cash back as your welcome bonus. The card does come with a first year annual fee waiver on the primary card. Cash back on this card is awarded quarterly as a statement credit.
Minimum Income: $60,000 (individual) or $100,000 (household)

BMO CashBack World Elite Mastercard  - 10% cash back on all purchases up to $2,000 (Apply here)
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 on the primary card and allows to redeem as little as $1 cash back at anytime for a statement credit.
Minimum Income: $80,000 (individual) or $150,000 (household)

 

Between these seven cards there is over $1,350 in cash back welcome bonus rewards! However even if you only take on one or two you are helping your finances at no cost other than regular credit card spend. We don't really recommend getting all five in one month unless you know you can meet the minimum spend for them all at once, rather you'd want to pick one or two right now, perhaps another next month and so on.