For Canadians, CapOne Aspire World MC has a special 50K points sign-up bonus, up from normal 35K points. Similar to the now famous US CapOne Venture, the points are worth 1c each towards travel and earning is 2 points per C$ (effectively 2% back towards trave). So, the sign-up bonus is worth $500. Annual fee is $120, and the second and subsequent year annual fees are offset by 10K renewal bonus points.

http://www.capitalone.ca/lp/redflagd...4_ZZ_ZZ_T_ZZZZ

Note that there are tiers for redemption. Also, points can be cashed out for 0.75c each (effectively 1.5% cashback).

The card comes with some great insurance coverages.