Top Cash Back Credit Card Offers for August 2018
Several promotions came to an end from last month, but got extended. You will find that most promotions run until the end of October.
Keep in mind that we also have an going Top Cash Back Credit Cards page which consists of permanent and temporary offers, while this post focuses on temporary offers only.
Note that we also have two other types of recent monthly lists going on:
Please let us know in the comment section below if you would like to see other types of monthly lists as well!
For this post, I listed the credit cards based on their annual fees.
BMO CashBack MasterCard
- No annual fee
- Earn 4% cash back on all purchases (for the first 4 months, up to $3,125 in spending or $125 in cash back) (if you apply before October 31, 2018)
- Earn 1% cash back on all other purchases
- Receive cash back: (1) direct deposit into a BMO chequing, savings or InvestorLine account; or (2) a statement credit
- Redeem: (1) annually; (2) when a recurring amount has accumulated a minimum of $50 and in increments of $10; or (3) a one-time lump sum with a minimum of $50 and in increments of $10
BMO SPC CashBack MasterCard
- No annual fee
- Earn 4% cash back on all purchases (for the first 4 months, up to $3,125 in spending or $125 in cash back) (if you apply before October 31, 2018)
- Earn 1% cash back on all purchases
- Receive cash back through a: (1) direct deposit into a BMO chequing, savings or InvestorLine account; or (2) statement credit
- Redeem: (1) annually; (2) when a recurring amount has accumulated a minimum of $50 and in increments of $10; or (3) a one-time lump sum with a minimum of $50 and in increments of $10
Laurentian Bank Visa Dollars
- $65 annual fee
- No annual fee for a supplementary cardholder
- Earn 6% cash back on gas and grocery (in the first 3 months; up to $2,000) (if you apply before October 31, 2018)
- Earn 3% cash back on pre-authorized debits
- Earn 2% cash back on gas and grocery (after the promotional period mentioned above has expired)
- Earn 1% cash back on all other purchases
- Redeem a cash back credit anytime when the balance is $25 or greater
Scotia Momentum Visa Infinite Card
- $99 annual fee (first year fee waived if you apply before October 31, 2018)
- $30 annual fee for a supplementary cardholder
- Earn 4% cash back for every $1 spent on gas and grocery purchases
- Earn 2% cash back for every $1 spent on drug store purchases and recurring bill payments
- Earn 1% cash back for every $1 spent on all other purchases
- Receive cash back through a: (1) direct deposit into a Scotiabank banking account; or (2) statement credit
- Redeemed automatically every November monthly statement
CIBC Dividend Visa Platinum Card
- $99 annual fee for first time cardholders (first year fee waived if you apply before October 31, 2018)
- $30 annual fee for a supplementary cardholder (maximum 3 cards)
- Earn 4% cash back on gas and grocery purchases
- Earn 2% cash back on Tim Hortons and TELUS purchases
- Earn 1% cash back on all other purchases
- Redeem as a statement credit
- Cash back awarded automatically on the December statement
Note, the 4% and 2% cash back are on the first $80,000 in total purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20,000 on gas, grocery, TELUS or Tim Hortons purchases on your account, whichever comes first.
CIBC Dividend Visa Infinite Card
- $99 annual fee for first time cardholders (first year fee waived if you apply before October 31, 2018)
- $30 annual fee for a supplementary cardholder (maximum 3 cards)
- Earn 4% cash back on gas and grocery purchases
- Earn 2% cash back on Tim Hortons and TELUS purchases
- Earn 1% cash back on all other purchases
- Redeem as a statement credit
- Cash back awarded automatically on the December statement
Note, the 4% and 2% cash back are on the first $80,000 in total purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20,000 on gas, grocery, TELUS or Tim Hortons purchases on your account, whichever comes first.
Meridian Visa Infinite Cash Back Card
- $99 annual fee (first year fee waived for a limited time)
- $30 annual fee for supplementary cardholders
- Earn 4% cash back on gas and grocery store purchases (on the first $25,000 in purchases, then 1% for all other purchases)
- Earn 2% pharmacy purchases and utility bill payments (on the first $25,000 in purchases, then 1% for all other purchases)
- Earn 1% cash back on all other purchases
- Require either $60,000 annual personal income or $100,000 annual household income
- Cash back awarded as an account credit
- Available to Ontario residents only
There is no specified end date for the first year fee waived, but it does say that it is limited time only:
- First year free is a limited time offer and is activated after the first transaction. Annual fee will appear on initial statement and a credit will be applied on the second statement following the transaction. Meridian reserves the right to modify or withdraw this offer at any time without prior notice.
RBC Cash Back Preferred World Elite MasterCard
- $99 annual fee
- No annual fee for a supplementary cardholder
- Earn 1.75% cash back for the first 6 months (could be limited time)
- Earn 1.5% cash back on all other purchases thereafter
There does not seem to be an expiry date on the 1.75% cash back bonus. However, on the main RBC website, it still shows that you can only earn 1.5%. Because it is a special link only, I am uncertain how long it will be available for.
TD Cash Back Visa Infinite Card
- $120 annual fee (first year fee waived if you apply before August 27, 2018)
- Earn 6% cash back on all purchases (for the first 3 months, up to $3,500 in spending or $210 in cash back) (if you apply before August 27, 2018)
- Earn 3% cash back on gas, grocery and recurring bill payments
- Earn 1% cash back on all other purchases
BMO CashBack World Elite MasterCard
- $120 annual fee
- Earn 4% cash back on all purchases (for the first 4 months, up to $3,125 in spending or $125 in cash back) (if you apply before October 31, 2018)
- Earn 1.5% cash back on all purchases
- Receive cash back: (1) direct deposit into a BMO chequing, savings or InvestorLine account; or (2) a statement credit
- Redeem: (1) annually; (2) when a recurring amount has accumulated a minimum of $50 and in increments of $10; or (3) a one-time lump sum with a minimum of $50 and in increments of $10
Please let us know if we missed any credit cards in the comment section below!
I have a strange datapoint to share for product change to TD Cash Back Visa Infinite. Even though I was an existing cardmember on a different product, TD let me product change to cashback and get 6% promotional bonus for spending upto $3500 first 3 months ‘only in grocery, gas and recurring bills category’ 🙁
That’s good news!
OC, did they also waive the annual fee for you … and 6% first 3 months not on ALL purchases, only 3 categories? I just logged into my TD online account and saw this online offer (see below).
Matt, I have read the offer + footnotes and not sure if worth it … $3,500 spend for $210 reward seems low?
Welcome Bonus
Earn 6% on all purchases for the first 3 months2 up to a total spend of $3,500. Plus, get a full Annual Fee Rebate1 for the Primary Cardholder for the first year. Apply online by August 27, 2018.
At a Glance
Earn 3% in Cash Back Dollars on eligible grocery Purchases and gas Purchases3, and on regularly recurring bill payments4 set up on your Account
Earn 1% in Cash Back Dollars on all other Purchases made with your Card5
Redeem your Cash Back Dollars to help pay down your Account balance whenever you please – the choice is yours!6
Your Cash Back Dollars never expire as long as your account is open and in good standing.
Emergency Road Services with the Deluxe TD Auto Club Membership7
Travel with confidence with Travel Medical Insurance8.
Complimentary Visa Infinite Concierge service9 available 24/7
It may seem like, but that is the point of diversifying our portfolio. At least as we always come out ahead, however much or little the rewards are.
Anna,
I have all inclusive banking plan so I get annual fee waived anyway for a bunch of TD cards. In this case I was just product changing from TD aeroplan VISA infinite to this card. Looks like the offer I got is more restrictive because of me being an existing customer.
From value standpoint I think $210 for spending $3500 is respectable if not awesome for Canadian CC scene. The feature I like most from this card is Deluxe TD Auto Club Membership. Compare that with CAA plus membership (worth ~$150) as towing is available for upto 200 km.
Matt, yep, always come out ahead, and as you said, best to diversify with points and cash, if one’s wallet can hold all 🙂
OC, good to know, thanks! At least you are saving the hard pull doing a product change.
And the Deluxe TD Auto Club was the one feature that was appealing. Myself, I prefer points based cards as they seem to offer more, although, as Matt said, always good to diversify.
Are you saying that you get more than one annual fee waived for multiple primary credit cards? We have 2 primary cards and ended up having to open 2 All Inclusive Bank Accounts, as I was also under the impression previously, that you could have multiple credit cards’ annual fees waived with ONE All Inclusive Account.
https://www.td.com/ca/en/personal-banking/products/bank-accounts/chequing-accounts/all-inclusive-banking-plan/
I mentioned this to another reader:
I usually do not write posts linking banking accounts to credit cards. Though not exactly the same, I find multi-product rebate very close to the definition of “Tied Selling”
https://www.investopedia.com/terms/t/tiedselling.asp