Top 5 Cash Back Credit Card Sign Up offers for September - 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 September 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.

One change this month that sees the Scotia Momentum Visa Infinite Card drop off the list as they bank quietly removed the 10% limited time cash back offer on the card. That means the CIBC Dividend Visa Platinum Card moves into the top 5. Also note the no annual fee SimplyCash Card from American Express offers 4% back on $5,000 in spending for $200 in cash back as well.

Here are the Top 5 Cards for this month in order of value:

American Express Cobalt Card - 50,000 points  (Apply here)
Welcome offer cash back value: $344 ($500 - $155.88 annual fee)
Better known as a travel card the American Express Cobalt Card became Canada's #1 cash back card in June 2021 as American Express bumped up its Use Points for Purchases (cash back) rate to 1,000 points for $10. That makes the card's new limited welcome bonus of 50,000 points (20,000 in the first three months when you spend $3,000 + 2,500 per month when you spend $500 each month in the first twelve months) worth $500. Subtract the $12.99 per month fee for the card and you have a cash back value of $344 just from the welcome offer.
Minimum Income: N/A

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

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)

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) 

 

CIBC Dividend® Visa Platinum* 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 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: $15,000

 

Between these five cards there is over $1,200 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.