Best no fee credit cards in Canada

Fact Checked: Amy Tokic

🗓️

Updated: November 07, 2024

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Compare the best no annual fee credit cards by category

High-end credit cards in Canada offer you many benefits that (hopefully) justify the annual fees they charge. However, many Canadians looking for a free credit card situation refuse to pay an annual fee for a credit card, no matter their credit score or income level.

Why pay fees on a credit card if you don't earn a benefit or barely recoup its annual fee? With no annual fee, you can ‘try out’ a card without losing any money and gain insights on the bank, its app, and the card's potential. But that doesn’t mean credit cards with no annual fees deliver insignificant value by comparison. Here are the best no annual fee credit cards in Canada (part of our full Best Credit Cards Canada 2024 list).

  • Why you can trust Money.ca's best no fee credit cards in Canada list

    +

    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.

Best no fee card of 2024

Best no annual fee credit card of 2024

BMO CashBack® MasterCard®

Apply now

3.4

5% cash back

Welcome offer

Good

Suggested credit score

Get 5% cash back in your first 3 months*

Expires

Nov 30, 2024

Pros

  • No Annual Fee: A rare find in Canada for a cash back card

  • A generous 3% cash back on groceries (up to $500 monthly)

  • Easily redeem from $1, set up automatic redemptions, or use as a statement credit

  • Additional perks include discounts on rentals, free supplementary cards and show discounts

Cons

  • Outside of groceries and recurring payments, the standard earn rate drops to 0.5%

  • Monthly caps on top earn rates for groceries and recurring payments

  • A 2% balance transfer fee applies

  • The interest rate on the remaining balance transfer amount increases after the introductory period

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Pros

  • No Annual Fee: A rare find in Canada for a cash back card

  • A generous 3% cash back on groceries (up to $500 monthly)

  • Easily redeem from $1, set up automatic redemptions, or use as a statement credit

  • Additional perks include discounts on rentals, free supplementary cards and show discounts

Cons

  • Outside of groceries and recurring payments, the standard earn rate drops to 0.5%

  • Monthly caps on top earn rates for groceries and recurring payments

  • A 2% balance transfer fee applies

  • The interest rate on the remaining balance transfer amount increases after the introductory period

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Cardholders earn 3% (up to a monthly max of $500) cash back on groceries

3%

Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*

1%

Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

0.5%

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

  • Overview of the BMO CashBack Mastercard

    +

    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 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.

    Special cash back rate: 3% (up to a monthly max of $500) cash back on groceries. 0.50% cash back on all other purchases..

    Added features: Purchase protection and extended warranty

Best for beginners

Best no annual fee credit card for beginners in Canada

Tangerine Money-Back Credit Card

Apply now

4.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Pros

  • No annual fee

  • Choose the spending categories where you want to earn the most cash back

  • Unlimited cash back—no maximum spending limit for any purchase category

  • Cash back is paid out monthly rather than annually

  • Periodically includes a special welcome offer where you can get extra cash back

  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee

  • Limited extra perks or benefits beyond the cash back and balance transfer promotion

  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart

  • Tangerine does not have any physical bank branches

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$12,000

Pros

  • No annual fee

  • Choose the spending categories where you want to earn the most cash back

  • Unlimited cash back—no maximum spending limit for any purchase category

  • Cash back is paid out monthly rather than annually

  • Periodically includes a special welcome offer where you can get extra cash back

  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee

  • Limited extra perks or benefits beyond the cash back and balance transfer promotion

  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart

  • Tangerine does not have any physical bank branches

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$12,000

Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)

2%

Get a Tangerine Savings account and add a 3rd 2% cash back category.

3

Earn 0.50% on all your other everyday purchases.

0.5%

Variable APR

19.95% - 24.95%

Balance Transfer Rate

1.95%

Cash Advance APR

19.95%

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Overview of the Tangerine Money-Back credit card

    +

    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.

    Earn 2% cash back on two categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.) Get a Tangerine Savings account and add a third 2% cash back category.

    Added features: Purchase protection* and extended warranties*

Best Visa

Best no annual fee Visa card in Canada

Scotia Momentum No-Fee Visa Card

Apply now

3.0

5% cash back

Welcome offer

Fair

Suggested credit score

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)

Expires

Nov 1, 2025

Pros

  • No annual fee: The card does not charge an annual fee, making it cost-effective for users.

  • Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.

  • Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.

  • Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).

  • Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.

Cons

  • Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.

  • Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.

  • Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.

  • Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.

  • Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.

  • Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.

Eligibility

Recommended Credit Score

Fair

Pros

  • No annual fee: The card does not charge an annual fee, making it cost-effective for users.

  • Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.

  • Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.

  • Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).

  • Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.

Cons

  • Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.

  • Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.

  • Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.

  • Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.

  • Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.

  • Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.

Eligibility

Recommended Credit Score

Fair

Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.

1%

Cash back on all other eligible purchases.

0.5%

Off base rates at Avid and Budget locations in North America.

25%

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Overview of the Scotia Momentum No-Fee Visa*

    +

    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.

    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.

    † Conditions apply

    *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Best Mastercard

Best no fee Mastercard

Tangerine World Mastercard®

Apply now

4.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Pros

  • No annual fee

  • Unlimited money-back rewards

  • High 2% earn rate

  • Exclusive experiences through MasterCard

Cons

  • $60,000 minimum income requirement

  • Travel insurance would be a welcome addition to the travel-related benefits

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Pros

  • No annual fee

  • Unlimited money-back rewards

  • High 2% earn rate

  • Exclusive experiences through MasterCard

Cons

  • $60,000 minimum income requirement

  • Travel insurance would be a welcome addition to the travel-related benefits

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Earn 2% cash back in two categories of your choice (e.g. groceries, restaurants, gas, entertainment, recurring bill payments and more)

2%

Get a Tangerine Savings account and get a 3rd 2% cash back category.

3

Boingo Hotspot membership for Wi-Fi at airports and on planes

1

A DragonPass membership to airport lounges (no passes)

1

Mobile device insurance up to $1,0000

$1000

Purchase assurance and extended warranty protection up to $60,000 lifetime

$60,000

Purchase APR

20.95%

Balance Transfer Rate

22.95%

Cash Advance APR

22.95%

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Overview of the Tangerine World Mastercard®

    +

    The Tangerine World Mastercard is very similar to the previously mentioned Tangerine Money-Back, just with more to love. Earn 2% cash back in two categories of your choice (e.g. groceries, restaurants, gas, entertainment, recurring bill payments and more) 0.5% back on everything else.

    Where the World Mastercard version shines, however, is its impressive insurance and travel perks. Cardholders enjoy access to premium travel insurance protections and travel perks like Boingo Wi-Fi and more.

Best for Amazon

Best Canadian no annual fee card for Amazon

Amazon.ca Rewards Mastercard

Apply now

2.5

5% back

Welcome offer

Fair

Suggested credit score

Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants. Valid for the first 6 months, on your first $3,000 in eligible purchases††.

Pros

  • No annual fee

  • Good returns on Amazon.ca, Whole Foods Market stores and foreign currency transactions

  • Competitive welcome bonus

  • Serviceable for regular Costco and No Frills shoppers

Cons

  • Earning maximum rewards requires paying for Amazon Prime

  • Other cards have higher earn rates on non-Amazon.ca purchases

  • Rewards points are only redeemable for Amazon.ca gift cards

  • Relatively few Whole Foods locations in Canada

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$0

Required Annual Household Income

$0

Pros

  • No annual fee

  • Good returns on Amazon.ca, Whole Foods Market stores and foreign currency transactions

  • Competitive welcome bonus

  • Serviceable for regular Costco and No Frills shoppers

Cons

  • Earning maximum rewards requires paying for Amazon Prime

  • Other cards have higher earn rates on non-Amazon.ca purchases

  • Rewards points are only redeemable for Amazon.ca gift cards

  • Relatively few Whole Foods locations in Canada

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$0

Required Annual Household Income

$0

Earn 2.5% on eligible purchases at Amazon.ca and Whole Foods Market stores for eligible Prime members (1.5% back for non-members)‡

2.5%

Get 2.5% back on eligible foreign currency transactions for eligible Prime members (1% back for non-members)‡

2.5%

Get 1% back on eligible purchases everywhere else Mastercard is accepted.‡

1%

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

1.5%

  • Why we picked the MBNA Amazon.ca Rewards Mastercard as the best no annual fee card for Amazon purchases

    +

    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.

    Eligible Prime members get 2.5% back on eligible purchases at Amazon.ca and Whole Foods Market stores. Get 1% back on eligible purchases everywhere else Mastercard is accepted.

    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!

Best for travel

Best no fee travel credit card

CIBC Aventura® Visa* Card

Apply now

4.0

up to 2,500 pts

Welcome offer

Good

Suggested credit score

Earn up to 2,500 Aventura Points† for no annual fee.

Pros

  • Easy to earn welcome bonus

  • Points can be earned on all purchases

  • Use Aventura Points to cover full airfare including taxes and fees

  • Can book with any airline with no blackout periods and points don’t expire†

Cons

  • Lower earn rate than some other travel cards on the market

Eligibility

Recommended Credit Score

Good

Required Annual Household Income

$15,000†

Pros

  • Easy to earn welcome bonus

  • Points can be earned on all purchases

  • Use Aventura Points to cover full airfare including taxes and fees

  • Can book with any airline with no blackout periods and points don’t expire†

Cons

  • Lower earn rate than some other travel cards on the market

Eligibility

Recommended Credit Score

Good

Required Annual Household Income

$15,000†

point for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†

1

point for every $1 spent on travel purchased through the CIBC Rewards Centre†

1

point for every $2 spent on all other purchases†

1

Purchase APR

20.99%†

Balance Transfer Rate

22.99%†

Cash Advance APR

22.99%†

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Why we picked the CIBC Aventura Visa as the best no fee travel credit card

    +

    Comes with a generous welcome offer.

    Earn 1 point on gas, EV charging, groceries and drug stores†, 1 point on travel through the CIBC Rewards Centre† and 1 point for every $2 spent on all other purchases†.

    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.

    †Terms and Conditions Apply

     This is a digital-exclusive offer.† To be eligible for this offer:

    this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and

    you must apply for the eligible card through the link provided in the CIBC or partner/affiliate com-munication to you.† This offer is reserved for you. Please do not forward it to anyone else.

    CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Aventura eligible card within the last 12 months.†

Best for low rate

Best no fee low-interest card

MBNA True Line Mastercard

Apply now

3.0

0% intro rate

Welcome offer

Good

Suggested credit score

Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.

Pros

  • Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)

  • No annual fee or minimum income requirement

  • Low standard interest rate of 12.99% for all new purchases charged to the card

  • Some extra perks like fraud protection and a discount on car rentals

Cons

  • 3% balance transfer fee is comparatively high

  • Very high cash advance interest rate of 24.99%

  • No insurance benefits

  • Can’t transfer a balance owed to either MBNA or TD

Eligibility

Recommended Credit Score

Good

Pros

  • Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)

  • No annual fee or minimum income requirement

  • Low standard interest rate of 12.99% for all new purchases charged to the card

  • Some extra perks like fraud protection and a discount on car rentals

Cons

  • 3% balance transfer fee is comparatively high

  • Very high cash advance interest rate of 24.99%

  • No insurance benefits

  • Can’t transfer a balance owed to either MBNA or TD

Eligibility

Recommended Credit Score

Good

Promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account.

0%

This card is made from 100% recycled plastic

100%

Purchase APR

12.99%

Balance Transfer Rate

17.99%

Cash Advance APR

24.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Overview of the MBNA True Line Mastercard

    +

    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 a great welcome offer. Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer 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.

    †, ✪, 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.

Best for points

Best no fee annual fee credit card with reward points

MBNA Rewards Platinum Plus Mastercard

Apply now

4.0

up to 10K pts

Welcome offer

Good

Suggested credit score

Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.

Pros

  • No annual fee

  • Accelerated rewards on groceries, restaurants, and more

  • Simple point structure with flexible redemption options

  • Generous introductory bonus of up to 10,000 points

  • No cap on total points earned

Cons

  • Lower cash back redemption rate compared to designated cash back cards

  • Limited benefits beyond rewards

  • Points system may not appeal to cash back enthusiasts

  • Higher earning categories have a spending cap of $10,000 annually

  • Better suited for travel rewards than cash back

Eligibility

Recommended Credit Score

Good

Pros

  • No annual fee

  • Accelerated rewards on groceries, restaurants, and more

  • Simple point structure with flexible redemption options

  • Generous introductory bonus of up to 10,000 points

  • No cap on total points earned

Cons

  • Lower cash back redemption rate compared to designated cash back cards

  • Limited benefits beyond rewards

  • Points system may not appeal to cash back enthusiasts

  • Higher earning categories have a spending cap of $10,000 annually

  • Better suited for travel rewards than cash back

Eligibility

Recommended Credit Score

Good

Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)

10,000

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

24.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

  • Overview of the MBNA Rewards Platinum Plus® Mastercard®

    +

    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). Earn 2 MBNA Rewards points for every $1 spent†† in several categories, including groceries, restaurants, digital media, memberships, and household utilities. Earn 1 MBNA Rewards point for every $1 spent†† on any eligible purchase made with the card.

    Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.

    ‡, ††, ✪, ***, 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.

Summary of top no annual fee credit cards in Canada

Card name Special feature Apply
MBNA Smart Cash Platinum Plus Mastercard Earn 2% cash back on on gas and groceries (up to $500 per month spend cap) Apply now
MBNA Amazon.ca Rewards Mastercard Eligible Prime members get 2.5% back on eligible purchases at Amazon.ca and Whole Foods Market stores. Apply now
Tangerine Money-Back Credit Card Earn 2% cash back on two categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.) Get a Tangerine Savings account and add a third 2% cash back category. Apply now
Scotia Momentum No-Fee Visa* Earn 1% cash back on all eligible gas stations, grocery stores, drug stores purchases and recurring payments. Apply now
CIBC Aventura® Visa Earn 1 point on gas, EV charging, groceries and drug stores†.Earn 1 point on travel through the CIBC Rewards Centre†
Apply now
MBNA True Line® Mastercard® Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. Apply now
BMO CashBack® MasterCard® 3% (up to a monthly max of $500) cash back on groceries Apply now
MBNA Rewards Platinum Plus® Mastercard® Earn 2 MBNA Rewards points for every $1 spent†† in several categories, including groceries, restaurants, digital media, memberships, and household utilities. Apply now
How we rate cards

How did we choose these no fee credit cards in Canada?

No fee credit cards offer a range of benefits and features that cater to the needs of savvy Canadian consumers. While they may differ from more premium cards in terms of annual fees, there are other factors to consider, such as earn rates, welcome bonuses, and travel perks.

To identify the best no fee credit cards, our methodology focuses on the critical features that Canadians value, including insurance coverage, interest rates, and rewards. We carefully evaluate each card, considering fees, interest rates, and essential insurance benefits, while also keeping an eye out for lucrative rewards and sign-up bonuses.

In addition to our top picks, we have identified the no annual fee card that provides exceptional value in each specific feature category. For instance, while there are several cards in the Canadian market that offer cash back with no fee, the Tangerine Money-Back Credit Card stands out because it allows cardholders to choose the spending categories in which they want to earn rewards.

With our comprehensive analysis, Canadian consumers can confidently find a no fee credit card that strikes the right balance between great features and a $0 annual fee.

How to choose

How do you choose the best no annual fee credit card?

When choosing the best no annual fee credit card, you have to consider what would personally benefit you most. Not all no annual fee credit cards are created equal. Are a great rewards program and a sign-up bonus most important to you?  Or are you more focused on obtaining the lowest interest rate on cash back and purchases? Of course, your own credit history and annual income may be a determining factor in the best credit cards for you, so it’s important to do your research on what you are eligible for.

Are annual fees worth it?

When is a credit card annual fee worth paying?

Wondering why anyone would choose a card with an annual fee when there is such a strong selection of no annual fee credit cards available? Well, cards with annual fees may offer more in terms of lower interest rates, bigger rewards, and other features that you may find desirable. Therefore, it’s important to look at your spending habits and take into consideration whether a card with an annual fee may actually benefit you more.

No fee FAQs

Best no fee credit cards in Canada FAQs

  • Can no-fee credit cards in Canada improve my credit score?

    +

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

  • What are the differences between no-fee credit cards and cards with annual fees in terms of benefits?

    +

    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.

  • What are the differences between no-fee credit cards and cards with annual fees in terms of benefits?

    +

    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.

  • How do I qualify for a no-fee credit card in Canada?

    +

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

  • Are there any hidden charges associated with no-fee credit cards?

    +

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

  • How does the foreign transaction fee on no-fee credit cards compare to those with fees?

    +

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

  • Can I get a no-fee credit card with bad credit in Canada?

    +

    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.

  • Can I get free credit cards in Canada?

    +

    Free credit cards in Canada don't exist but no-fee credit cards do, which means they don't charge an annual fee for the cardholder, however, these no fee credit cards still charge interest on purchases, cash advances and balance transfers.

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Cory Santos Finance editor

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

Tyler Wade Content strategist & writer

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.

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