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

 

Here are Rewards Canada's Top 5 Cash Back Credit Card Sign Up offers for the month of July 2021. 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 is a status quo - no changes to report from June

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. 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

CIBC Dividend® Visa Infinite* Card - 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 four billing cycles 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 up to three additional cards. You can cash out at anytime so long as your rewards balance is $25 or more.
Minimum Income: $60,000 (individual) or $100,000 (household) 

 

Scotia Momentum® VISA* Infinite card - 10% cash back on 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 up to three supplementary cards. Cash back on this card is awarded once per year
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)

 

SimplyCash™  Card from American Express - 4% cash back on all purchases up to $5,000 (Apply here)
Welcome offer cash back value: $200
The no annual fee cash back option from American Express sees a rare welcome bonus and it is a great one for a no annual fee card. Earn 4% cash back on all purchases up to $5,000 in total in your first 6 months. That works out to up to $200 cash back! Then you earn 1.25% back on all purchases after that - this is one of the highest base earn rates of all no annual fee cash back cards.
Minimum Income: N/A

 

Between these five cards there is just $1,100 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.

Disclaimers:

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.