There is something so wonderful about the first true signs of spring…and the month of May is usually filled with them.
Things start to turn green, flowers start to bloom, and going outside doesn’t seem like as much of a chore.
In fact, for most of us, May weather makes us want to be outdoors. Whether we are just running around enjoying the sights, heading to restaurants as they set up their outdoor patio seating, or even just firing up the BBQ for the first time this year, May is filled with wonderful outdoor adventures.
However you’re spending your time this May, or what you’re spending your money on…wouldn’t it be nice if you were earning valuable rewards while you were doing it?
Cash back, travel rewards, or flexible rewards that you can use for a new bbq or patio set… No matter what it is you’re looking for this month, (when used responsibly) credit cards are a great way to reward yourself.
Up to 20,000 in bonus rewards – plus no annual fee
Do you have the travel bug, but you’re not quite ready for a premium travel credit card. If so, a solid no fee travel card could help you get your feet wet in the world of travel credit cards. The BMO Rewards Mastercard is a great card to consider ‒ and for a limited time, BMO is offering the top no fee travel sign up bonus on the market – up to 20,000 BMO Rewards points.
You will be awarded 10,000 points just for signing up and making your first purchase – and another 10,000 points if you spend $1,000 in your first 3 months…
That’s $142 worth of travel rewards ON TOP of the rewards you will earn on your spending.
So, whether you’re just starting out – or you don’t spend enough to justify paying an annual fee – this card is a solid contender because:
- You get flexible rewards you can redeem for travel, statement credits, investment and donations, gift cards, merchandise and even “experiences” (from menu tasting to whale watching, your pick).
- There is no annual fee to cut into our rewards.
- And no minimum income requirement to worry about.
Get the details right here:
Up to 25,000 bonus points – 0% foreign transactions
If you are planning a “getaway” this year (especially any that will be taking you out of the country), the newest no FX credit cards to hit the market in Canada is the Scotiabank Passport Visa Infinite Card.
You get great travel rewards, comprehensive insurance (that extends past age 65), 0% foreign exchange transaction fees, plus premium perks like complimentary Avis Preferred Membership, Priority Pass Membership, and 6 free airport lounge visits per year.
Although the annual fee for this card is a little higher, there are a few things that lessen the blow:
- 25,000 welcome bonus points worth $250 in travel which is nearly enough to cover 2 years worth of annual fees.
- If your account is part of a Scotia Total Equity Plan, your annual fee will actually be reduced to $69.
- If you spend $40,000 annual (that’s a little over $3,000 a month), you will qualify for the 10,000 bonus points – that’s $100 in travel. Subtract that from your annual fee, and you’re only out $40.
Find out all the details here:
2% cash back in up to 3 spending categories – the best no-fee cash back card in Canada
If cash back is what you’re looking for, the Tangerine Money-Back Credit Card is the best in Canada when it comes to no-fees and no income requirements for 2018.
You get 2% cash back in 2 spending categories of your choice, and they will even throw in a 3rd category if you have (or get) a Tangerine banking account. Anything you buy outside of your chosen spending categories will give you a 0.5% return.
This card is a good fit if:
- You do most of their spending in up to 3 categories.
- You have another credit card that gives you high returns in some categories, but not in others.
- Your spending habits change as the year goes on.
Get the full details here:
A sign up bonus of 35,000 points – and the first year free
The BMO World Elite Mastercard is an incredibly flexible rewards card that starts you off with 35,000 BMO Reward points.
Not sure what that really means?
Check out some of the things you could get when redeeming your BMO Rewards:
|Flight from Toronto to Montreal||$235.82 (round-trip, taxes included)||33,014 points|
|4 nights at Las Vegas Hotel||$249.00 ($55.09/night, taxes included)||34,859 points|
|Best Western Hotel gift card||$200||35,000 points|
|Female Fossil Watch||$150 on Fossil website||25,000 points|
|Whale Watching Tour in Nova Scotia for 2||$100||13,200 points|
And the best part? You can try this card for FREE, because BMO is waiving the annual fee for new applicants.
Get the details right here:
12 months of 0% Balance Transfers – and no annual fee
Or maybe your plan this spring and summer is to stay close to home and start working on your finances. If you have some pre-existing credit card debt hanging over your head, a credit card with a good balance transfer rate could be a good move.
Because wouldn’t it be great if 100% of your payments were going to pay off your balance and not new interest charges?
With the MBNA Platinum Plus Mastercard, you have that option.
This no annual fee credit card is the Best Balance Transfer Credit Card on the Canadian market right now and for good reason – 12 months of 0% balance transfers.
What does that mean in terms of interest savings? If you’re carrying a $5,000 balance at the typical 19.99% interest rate, then you’ll save almost $1,000 in 12 months.
Read our detailed review right here:
Permanent low interest rate of only 11.9% on purchases, cash advances and balance transfers
Credit card interest is not fun…and being charged interest on your credit card balance means that your hard earned money is going straight to the bank.
While the best way to avoid this is to always pay your bill in full, sometimes it could slip our minds or something could come up and we are just unable to. If this is the case for you, having a credit card in your wallet that charges you 20% interest might not be the best thing.
The BMO Preferred Rate Mastercard gives you an introductory rate of 3.99% on balance transfers for your first 9 months. And it also has a permanent low interest rate of only 11.9% – saving you over 8% interest (compared to most credit cards which charge 19.99%).
Plus…this card has a low annual fee, no minimum income, and even some insurance to protect your purchases.
Find out more here:
Up to 30,000 bonus points, plus 5x the rewards on groceries and dining
The American Express Cobalt card is the best credit card in Canada in 4 different categories for 2018:
…and with good reason.
No other card lets you earn 5x the points on food and drinks – whether you’re out for date night, getting your weekly groceries, or grabbing a coffee on the go.
You also get 2x the points on gas, travel and transit – so, whether you’re going to the beach, heading on a summer road trip, or taking public transit home after a summer music festival, you’ll earn double the points with this card.
Food and travel, aren’t the only way to earn rewards though. You’ll still earn 1 reward point for every $1 spent everywhere else you use your card – the standard amount for most rewards credit cards.
Plus, on top of that, each month that you spend $500 in your first year, you’ll earn 2,500 reward points.
Add that all together and you’re looking at bonus of 30,000 points worth $525 in travel.
What’s more? It has a decent insurance package, fun Amex perks and benefits, and an annual fee that is divided into manageable $10 monthly payments.
Read our detailed review right here:
Which of these credit card offers is for you?
Do you have any goals in your head for the coming warmer months?
Are you hoping to earn some cash back while you replace your patio set or bbq?
Are you hoping to get rid of some debt this spring?
Or are you in full on summer vacation planning mode?
For now, here is our top credit card offers for May:
|Credit Card||Deal||Annual Fee||Income Requirement||Apply|
|BMO Rewards Mastercard||20,000 welcome bonus points||$0||$0||Apply|
|Scotiabank Passport Visa Infinite||New – 0% foreign transactions||$139||$60,000||Apply|
|Tangerine Money-Back Credit Card||The best no-fee cash back card in Canada||$0||$0||Apply|
|BMO World Elite Mastercard||35,000 sign up points and no annual fee||$150
(waived for the 1st year)
|MBNA Platinum Plus Mastercard||0% balance transfer for 12 months||$0||$35,000||Apply|
|BMO Preferred Rate Mastercard||One permanently low interest rate of only 11.9%
on purchases, cash advances and balance transfers
|American Express Cobalt Card||The highest earn rate on Food and Drinks||$120
(spread out over 12 months)