HSBC has a new promo for the World Elite MasterCard.
You must have an annual individual income of $80,000 or $150,000 household income.
Chronic churners (like me) have had difficulty getting this card from HSBC.
YMMV.

Link:
https://www.hsbc.ca/credit-cards/products/world-elite/

Non-Quebec promotional offer :

• FYF
• 20,000pts at sign-up
• 18pts/$ spent on travel in first 90 days up to 40,000pts

Quebec promotional offer :

• $149 annual fees
• 20,000pts at sign-up
• 70,000pts if you keep your account open and in good standing for 90 days

Other features :

• Annual $100 travel enhancement credit
• No FX fees
• Wifi Boingo free membership
• 10% off hotel bookings on Agoda and Expedia
• Earn 3pts/$ spent on everything
• Earn 6pts/$ spent on travel

200 points is generally worth $1 in travel redemption.

Good discussion here:
https://www.reddit.com/r/churningcanada/comments/cyd7bv/hsbc_world_elite_mastercard_new_signup_bonus/?utm_source=share&utm_medium=ios_app

As pointed out in the Reddit thread, redemptions can only be made at the 25K, 35K, 45K, 55K, etc. values.

So, one sweet-spot option (for non-Quebecers) to get $425 value is:
Get card and 20,000 points at sign-up = $100 travel credit
(If you can... ) Spend $3056, in first 3 months, on travel.
Earn 18 points per dollar on the first $2,222 = 40,000 points
Earn 6 points per dollar on the next $834 = 5,004 points
Together, that's 45,000 points, which can be redeemed for a $225 travel credit
Also get $100 annual travel enhancement credit it, redeemable towards select airline seat upgrades, airline baggage fees and airport lounge passes.