Best no fee credit cards in Canada for July 2024

Money.ca rates no annual fee credit cards on a scale of 1 to 5 (with 5 being the best) and are based on the following criteria (if applicable): annual percentage rate (APR), annual fee, balance transfer fee, foreign transaction fee, penalty fee and APR, rewards programs, sign-up bonuses, customer service, security, insurance coverage, additional features, acceptance, and credit score requirements.

Our ratings process collects and analyzes more than 70 unique data points, including the features listed above, to better understand the real-world and everyday value each credit card provides Canadians. Different categories of cards are rated using different weightings, with the top no fee credit cards listed below. Money.ca’s business relationships have no effect on ratings.

For more, read Money.ca’s complete review methodology.

Other no-annual-fee cards in the cash back category find it difficult to compete with the MBNA Smart Cash Platinum Plus, which saves you from paying an annual fee while still offering a very high 2% cash back on on gas and groceries (up to the $500 monthly spend cap). All other purchases earn cash back at 0.5%, and cash back is credited into your MBNA card account on a convenient monthly schedule rather than yearly.

With no limits on how much cash back you collect, car rental discounts with Avis and Budget and access to the MBNA Payment Plan feature, the Smart Cash card provides superior flexibility.

Accelerated cash back rate: 2% cash back on gas and groceries ($500 monthly spend cap)

Flat cash back rate: 0.5% cash back on everything else

Added features: Purchase assurance and extended warranties

Eligibility criteria:

Minimum credit score: Fair/Good

Minimum income: None

Age: 18+/Age of majority

Residency: Canadian citizen/permanent resident

Other: No bankruptcy for the past 7 years

*Terms and Conditions apply

With its max 2% cash back rate and an unlimited, choose-your-own cash back policy, the Tangerine Money-Back Credit Card has become one of the most popular no annual fee credit cards in Canada. The card is ideal for those newer to credit cards as it provides impressive rewards with no annual fee.

Accelerated cash back rate: Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.). Plus, get a Tangerine Savings account and add a 3rd 2% cash back category.

Regular cash back rate: Earn 0.50% on all your other everyday purchases.

Added features: Purchase protection* and extended warranties*

Eligibility criteria

Credit score required: Fair

Minimum personal income required: $12,000

Annual fees: $0

If you’re looking for a no-fee, no-frills credit card that’ll let you earn points as you spend on essentials, the Scotia Momentum No-Fee Visa Card might be right for you. The card is designed to help you earn points on your everyday purchases, including gas, groceries, drugstore purchases, and recurring bill payments. You'll earn a 1% cash back rate on these categories, making it perfect for those who want to earn rewards on their routine spending.

Annual fee: $0

Welcome bonus: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0)

Regular earn rates: The card earns 1% cash back at gas stations, grocery stores, drugs stores, and on recurring payments; 0.5% cash back on all other purchases†

Other features: 25% off base rates at Avid and Budget locations in North America.

Interest rates: 19.99%† Purchase Annual Interest Rate, 22.99%† (for non-Quebec residents only) Cash Advance Annual Interest Rate, and 22.99%^† (for non-Quebec residents only)

Most merchants today accept both Mastercard and Visa, and in general we advise readers to focus on a card’s individual attributes rather than the payment network it belongs to. That said, some stores only accept one or the other, so if you shop frequently at a spot that accepts only Visa and not Mastercard, the Scotia Momentum No-Fee Card is probably the best no annual fee card for you, particularly if groceries are the largest line item in your budget.

To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.^†

Eligibility criteria:

Minimum credit score: Fair

Minimum income: None

Age: Age of majority in province

Other: No bankruptcy for the past 7 years

† Conditions apply

Of all the no annual fee cards, we like the MBNA Amazon.ca Rewards Mastercard because of how well it performs with its namesake brand.

If you're into cash back, you'll earn unlimited 2.5% cash back at Amazon.ca, Whole Foods and no foreign currency fees (as a Prime member) and 1.5% for non-prime members at Amazon.ca and Whole Foods; plus 1% cash back for all other purchases where Mastercard is accepted worldwide.

So, if you value cash back and online shopping, the MBNA Amazon.ca Rewards credit card is a great option to consider. Oh, it works for regular Costco or No Frills shoppers, too!

A sweet welcome offer worth up to $400.

They also give you a decent earn rate for a no annual fee credit card of 1 point per dollar on eligible gas stations, EV charging, grocery stores and drug stores^† You can earn on travel purchased through the CIBC Rewards Centre^†, too.

But, the fact they throw in travel accident insurance and credit card rental car insurance is the biggest plus that you won't find with many other no annual fee travel cards.

Canadians looking to consolidate their other credit card balances or lines of credit under one low rate can do so with this card at no annual fee. The MBNA True Line Mastercard credit card offers 0% promotional interest rate† on balance transfers✪ for the first 12 months which then jumps to 12.99%✪ interest, which is definitely lower than you’d be paying on other cards (without paying an annual fee). Plus, the purchase APR is 12.99% so you won’t have to feel so guilty for using it when you shop.

This is especially true if your balances were previously exposed to high rates. It’s also worthwhile to note that MBNA offers a slightly different card (the MBNA True Line® Gold Mastercard® credit card) to those who would pay a small annual fee in exchange for a lower standard rate on balance transfers and purchases.

Annual fee: $0

Promotional Balance Transfer Rate: 0% for 12 months†

Balance transfer rate: 12.99%✪

Purchase interest rate: 12.99%

Cash advance rate: 24.99%

Eligibility criteria

Credit score required: Fair/Good

Minimum personal income required: N/A

This offer is not available for residents of Quebec.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

†, ✪, Terms and Conditions apply.

The combination of one of Canada’s top cash back rate on groceries and no annual fee is already an advantageous opportunity for cardholders, but the BMO CashBack Mastercard^® raises the bar further adding 1% back (up to $500 per month) on any recurring bill payments*.

The card is ideal for for consumers looking for a cash back card with no annual fee who spend a lot on groceries and recurring bills for things like streaming services or other bills but adds a level of simplicity thanks to its automatic cash back redemptions starting at just $1.

Regular cash back rate: 0.5% cash back on all other purchases

Special cash back rate: 3% cash back (up to a monthly max of $500) cash back on groceries; 1% (up to $500 per month) on any recurring bill payments*

Sign-up bonus: Get 5% cash back in your first 3 months*

Added features: Purchase protection and extended warranty

Eligibility criteria:

Credit score required: Good

Minimum personal income required: $15,000

Annual fees: $0

If you’re looking for a rewards credit card that offers a great points program on everyday purchases and strong welcome offer along with its no annual fees, then we recommend the MBNA Rewards Platinum Plus Mastercard (for more options, check out our full list of the Best Rewards Credit Cards in Canada).

As one of Canada's best no fee credit cards, MBNA offers rewards on digital media memberships, utility payments, groceries, and restaurant purchases (a hefty portion of most monthly bills). the MBNA Rewards Platinum Plus^® Mastercard^® earns two MBNA Rewards points^‡ per $1 spent, and 1 point^‡ per $1 spent on everything else. These rewards don’t expire and can be spent on a variety of useful things like travel, cash back, merchandise, gift cards and more.

Earn four MBNA Rewards points^†† for every $1 spent on grocery, restaurant, digital media membership and utility payments for the first 90 days of account opening.

As a bonus, cardholders will earn up to 10,000 additional points^†† just for making $500 in purchases (5,000^††) and for signing themselves up for paperless e-statements (another 5,000^††) (both within the first 90 days). 10,000 points have a value of $100 when redeemed on travel. If that’s not enough, on your birthday^‡, you’ll earn 10% of the points earned the previous year, up to 10,000 points total.

Accelerated earn rate: four MBNA Rewards points†† for every $1 spent on digital media membership, utility payments, grocery, and restaurant purchases for the first 90 days of account opening. Goes down to two points‡ after 90 days.

Regular earn rate: one MBNA Rewards point‡ per $1 spent elsewhere

Intro bonus: Up to 10,000 points††

Added features: purchase assurance and extended warranties

Purchase interest rate: 19.99%

Cash advance rate: 24.99%

Balance transfer rate: 22.99%✪

Credit score required: Fair/Good

Minimum personal income required: N/A

Annual fees: $0

^‡, ^††, ^✪, ***, Terms and Conditions apply

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ^®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

Yes, responsibly using a no-fee credit card can improve your credit score by establishing a history of timely payments.

No-fee credit cards may offer fewer benefits and rewards compared to those with annual fees, which often provide more extensive perks and higher rewards rates.

No-fee credit cards may offer fewer benefits and rewards compared to those with annual fees, which often provide more extensive perks and higher rewards rates.

Eligibility for no-fee credit cards in Canada typically depends on your credit score and financial history.

While there's no annual fee, some no-fee credit cards may have other charges like late payment fees or foreign transaction fees.

Foreign transaction fees on no-fee cards can vary, and some might offer competitive rates similar to fee-bearing cards.

Obtaining a no-fee credit card with bad credit is challenging, but some issuers offer options designed for building or rebuilding credit. Read our guide on credit cards for fair credit for more info.