Top 5 Cash Back Credit Card Sign Up offers for February – These cards provide the best value out of their welcome bonuses + MORE Feb 6th

Finding the right credit card could save you hundreds, if not thousands, of dollars a year. Whether you’re looking for lower fees, more rewards or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your credit card wisely, pay off your balance monthly and find the right rewards program for you, and you are sure to come out ahead. There’s a slew of credit card options out there, and it can be challenging to find the best deal—but this list of best credit cards in Canada is here to help. We’ve highlighted the best in 13 different categories so that you can zero in on the ones that fit your spending habits, and offer features you truly value. Remember, this “best credit cards” ranking is the starting point; the final decision is yours to make. 
The best credit cards in Canada 2021

Card
Rewards / Features
Annual fee

American Express Cobalt
(get more details)*

5 pts/$1 on groceries & dining
2 pts/$1 on travel, gas & transit
1 pt/$1 on everything else
1 pt = 1% / up to 1…

 Yesterday we brought you the news that BMO will be changing its AIR MILES World Elite Mastercard come this May. Turns out that is not the only card they are changing, the BMO CashBack® World Elite®* MasterCard®* will also be going through a revision at that time. Compared to the AIR MILES changes these ones are really good. For most people this truly will be an enhancement.Image via BMO The changes come to the earn rates and interest rates. Most of you will be concerned about the earn rates as the card has been an easy one in that category – a nice simple 1.5% on all purchases. BMO even advertised that fact that it is easy to understand your earn rates with no confusing category bonuses or spending caps. Well BMO is going down the rabbit hole as the card will take on category bonuses with spending caps in May. Don’t this sway way away from the card as in fact these changes are for the better for most people.  Let’s take a look at new earn rates and what it could mean for you: - 5% cash back on grocery purchases – up to $500 per statement cycle then 1% after (effectively capped at $6,000 per year)- 4% on ground transportation – including ride sharing, taxis and public transit up to $300 per statement cycle then 1% after  (effectively capped at $3,600 per year)- 3% on gas and electric vehicle charging – up to $300 per statement cycle then 1% after  (effectively capped at $3,600 per year)- 2% on recurring bill payments like your monthly phone bill or gym membership – up to $500 per statement cycle then 1% after (effectively capped at $6,000 per year)- 1% unlimited cashback on all other purchases with no limit on how much cash back you can earn If you add up the categories you have $19,200 in annual spending that can be bonused…

 Here are Rewards Canada’s Top 5 Cash Back Credit Card Sign Up offers for the month of February 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.Only one change this month from last and that sees to the return of the 10% cash back offer on the CIBC Dividend Visa Infinite Card which puts it back on the list. This change knocks out the American Express Cobalt Card from the Top 5 into 6th spot.Here are the Top 5 Cards for February 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…