There are several different ways to accumulate points to fund your travel. Many people do so passively by selecting a credit card and going about their regular day buying what they normally buy. Some people take it to the next level by considering which cards should be used for which purchases to maximize their return, such as the Amex Cobalt for food. Similarly, many take advantage of program partnerships such as Aeroplan's partnership's with Journie fuel, Starbucks, and Uber while some are a bit more deliberate and use the Aeroplan Estore to get far more significant returns. The same pattern applies to Sign Up Bonuses or SUBs; many just get the bonus that comes with the card they selected, while others go SUB Hunting to find the best, and chase them down one at a time.
As always I write to a Canadian Professional market, but many could benefit. This article is accurate to the best of my ability at the time of writing, but always consult the specific wording in the terms and services before making financial decisions.
The SUB-Way
Card issuers have several different tools to try to entice you their way, with the hope of getting you to agree to their annual fees and to funnel your purchasing through their network which takes fees from the merchant you shop with. Of course they're in it to make money, don't mistake it for charity, but they know that most people wont fully take advantage of every perk - not us though, we are going to squeeze them for maximum return before we move on.
The first tip of SUB hunting is to focus on cards that you dont intend to hold long term. While you should certainly get the SUBs on your Keeper Cards, given enough time, those bonuses will fade into the past. Conversely, don't select your keeper card simply based on the tantalizing sign up bonus. Select the cards you want to keep, and separately hunt the SUBs, whenever possible.
Focus on cards that you dont intend to hold long term
But how do we get started? There seems to be a dizzying supply of cards from different issuers with different bonuses in different point currencies with different requirements to unlock. Some give a welcome bonus just for signing up, many give a lump sum for a set amount of spending in a several month timeframe, and more and more commonly they are restricting another bonus to the second year of ownership to keep you from dropping the card early. Some points can be flexibly used for travel or cash back, and some have very strict limitations and unclear value. I've already gone over Why Amex should be on your short list, and I think it represents one of the best choices for SUB Hunting.
Amex's Fleet of SUBs
Amex not only has an incredibly versatile and powerful point system, but they also have a number of different cards in both personal and business varieties with generous SUBs. They use these bonuses to help would be clients overcome the hesitation they might have towards the hefty annual fee or their allegiance to their big bank. For example, the Amex Platinum typically has a 70k Amex MR point SUB for spending $10k in the first 3 months of ownership, cash back value $700 and estimated travel value of of $1400 with a travel partner like Aeroplan. This helps balance out the eyewatering $799 annual fee long enough for you to see if you get value from the many other perks such as lounge access. As SUB hunters however we are less concerned about those things - those would factor into whether we'd want to keep this card long term, but for chasing SUBs there are just a few simple questions.
Picking the Right SUB
The first step in picking the right SUB to hunt is considering what kind of rewards we want, but as mentioned above we are going to use Amex as our example.
The second step is to make sure that we consider restrictions on SUBs. For example, it should come as no surprise that many issuers will not just repeatedly award SUBs back to back to back on the same card being opened and closed. Some do, but generally speaking most SUBs are one time per person. Also, some issuers have tier based rules which is to say that if you've already received the SUB for one of their top tier cards, they wont issue one for a lower tier signed up for subsequently (SUBsequently?). For example if you've already owned the Amex Platinum, the Gold reward is no longer available to you (note that this currently just applies to the personal Platinum and Gold cards, the Cobalt is separate). More recently, Aeroplan has even added cross issuer rules such that having previously owned a TD AP VIP would exclude you from the bonuses for the CIBC AP VIP or Amex AP Reserve or vice versa. Thats why the second tip is to make sure you don't block yourself from valuable SUBs by rushing to get started, create a smart plan before you rush into battle. When there is language preventing you from getting multiple members from the same family, target the best effective return that you are confident you can reach.
Don't block yourself from valuable SUBs...target the best effective return that you are confident you can reach
The third step is to consider the right time to strike. You ideally want an overlap between a generous bonus and a minimum spend requirement that you can confidently make. One of the worst things you can do is let a SUB get away, particularly if once per person rules apply. So my tip is that for particularly ambitious spend requirements try to line it up with expected large expenses. For example, I'm looking to buy a new sectional, maybe this is the time I should chase a new SUB.
Fourth, consider whether you can take advantage of additional promotions. For example, Amex periodically runs supplemental card promotions where additional points can be earned by adding a "supp card" to an existing credit line. With that in mind I wouldn't open a supp card at the same time as the application, I would wait until there was a promo and add it after the fact for more points. Note that supp card do not rely on or report to the supp card holder's credit, and will not impact their eligibility for SUBs in the future.
Fifth, consider when to close the card. Typically the ideal time to close a card is when the annual fee posts again. This accomplishes several things - you may be offered a retention offer (another sub!), if you do close the card you'll get the fee reimbursed, and the behaviour is the most "normal consumer". By this I mean that it is not surprising a consumer may see a new $599 fee on an Amex Aeroplan Reserve and reconsider if they want to hold it long term for lounge access - deciding to cancel at this point is natural.
Other Tips
I strongly recommend that you keep record of when you sign up for a card and what the terms of its SUB were at that time. These offers change frequently and you don't want to be left unsure of how much spend you need to get your SUB and when the time limit expires.
Convert the SUB and minimum spend requirement (MSR) into an effective return to better compare your options. For example the Platinum's 70k for $10k is effectively an extra 7x on top of the base return of the card. This effective return number also helps confirm why you may be willing to manufacture spend, accepting a fee to use a credit card. For example if you had a $10k corporate tax bill and you paid it through Paysimply, or a personal tax bill through Chexy, even after the transaction fees you would be well ahead!
Current SUBs
Not an exhaustive list and always subject to change, if you're a business owner please reach out to discuss your specific situation.
Amex MR Points
Amex Gold - 5000 per $1000 a month for 12 mo - 5x effective bonus
Amex Platinum - 70k for $10k in 3mo and 30k for a purchase in 14-17mo - 7x effective bonus for first spend goal
Amex Business Gold - 40k for $7.5k in 3mo plus 10k in any quarter you charge $20k - 5.33x effective bonus for sub and 0.5x effective for quarterly bonus
Amex Business Platinum - 80k for $15k in 3mo plus 40k for a purchase in 14-17mo - 5.33x effective bonus
Remember that you should consider getting the personal gold before the personal platinum if you intend to obtain both bonuses.
Aeroplan Points - eligible for one from each category, note CIBC offers are typically the same or slightly worse than TD ones are are omitted for clarity
Personal Entry
TD AP Visa Platinum - 10k for first purchase and 10k for $1k in 90d - 20x effective earn
Personal Core
Amex AP - 30k for $3k in 3mo, 10k for $1k in month 13 - 10x effective in first bonus and 10x again in second
TD AP VI - welcome bonus 10k, 15k for $7.5k in 180d, anniversary of 15k if $12k in 12mo - effective bonus of 3.33x for the 180d and 1.25x for the year
Which to pick? The Amex has a lower spend amount required for its points but needs to be held 2 years vs. the Visa being more widely accepted and easier to get a fee waiver.
Personal Premium
60k for $7500 in 3mo - 8x effective
40k for $45k in 12mo - 2.2x effective on top of base earn
30k for any spend in month 15-17
TD AP VIP - welcome bonus 20k, 25k for $12k in 180d, anniversary of 30k if $24k in 12mo - effective bonus of 3.75x for the 180d and 1.25x for the year
Business premium
65k for $10.5k in 3mo - 6.19x effective bonus
45k for $75k in 12mo - 1.47x effective
30k for any spend in mo 15-17
Which to pick Amex or Visa?
The Amex cards typically have lower spend amounts required for its points and no specific personal or household income requirements, but need to be held 2 years
The Visas being more widely accepted and may be able to get a fee waiver (only partial on the personal premium
Amex is the only Premium Business issuer, and Visa is the only Core Business and personal entry issuer.
From the above my recommended first card to target, based on offers available as of April 2025 would be the TD AP VI as it is currently available with an annual fee waiver to all new applicants, this improves the net benefit despite its higher spending requirements compared to the Amex AP card in the same tier.
A note about SUBs that include points in the second year, make sure to re-evaluate the annual fee before hand. These exist to convince you to hold on to the card but are often not the best return when you subtract the fee.
Conclusion
SUB hunting is another strategy to maximize your travel by efficiently allocating your spend to cards with good bonuses without intending to hold them long term. Currently the TD AP VI stands out with its first year free promotion, it may be worth holding long term if you can get an ongoing fee waiver from TD or value the free checked bag it provides. For larger spend or business situations please consult me for help deciding the best offer.
Cautions
Opening new credit cards temporarily lowers your credit score due to the credit inquiry required at application and the calculation of credit utilization in the first statement month. Provided you continue to responsibly pay your bills on time your credit will rapidly recover to baseline within a few months. With this in mind I would caution about moving too rapidly from SUB to SUB, or doing this shortly before mortgage application or renewal. There are also some limitations that restrict the most aggressive of card manipulators that were not discussed here such as Amex's 4 credit card limit (note that they have no limit on charge cards).
Referrals
To see the access the best public offers for different Amex card such as the Business Gold, or Platinum click here. If you're a business owner considering your first business card, we would be happy to hop on a call to help you sort out the best card for you as there are more options to consider.
You're going to need somewhere to stay after all of these free flights. The Amex Bonvoy or the Business Bonvoy card will earn you free hotel stays and can be combined with the Aeroplan eStore for some incredible double dipped rewards.
If you're on the fence, or wondering about other cards reach out to me for a free consult, and if you sign up for a card through my link, let me know and I will walk you through advanced tricks and personalized advice to help you get the maximum benefit both from earning and redeeming points - getting your travel journey going faster than you ever thought possible.
Disclaimers
This should not be taken as financial advice and details are subject to change. I have made good intentioned efforts to be accurate but ultimately consult card terms and conditions
