Best No Fee Credit Cards in Canada

Best no annual fee credit cards Canada

Fact checked by Scott Birke

Updated Jun 4, 2025

11M

Readers

150+

Reviews

1,000+

Metrics

Partners on this page may provide us earnings.

Top 3 no annual fee credit cards

Many high-end Canadian credit cards offer perks to justify their annual fees—but for many Canadians, a no-fee credit card is non-negotiable, regardless of income or credit score. Here's our top 3 list followed by some other no fee card options by category.

Compare the best no annual fee credit cards by category

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 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. We analyzed 28 credit card programs, considered more than 135 features, reviewed over 200 cards and sifted through approximately 27,000 data points to identify the best options available.

    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.

🏅 Gold: BMO Eclipse Rise Visa

Welcome Bonus: Get 20,000 points when you spend $1,500 in the first 3 months - that's a $133 value! Expires Jan 31, 2026

On BMO'sSecure Site

Get this card if you...

  • want to quickly earn points on everyday spending
  • want flexible point redemption options
  • value a great welcome offer

  • The BMO Eclipse Rise Visa comes out on top as our Gold winner for the Best No Annual Fee credit card category as it offers exceptional value for everyday spending.
  • New cardholders can claim a generous welcome bonus, making it one of the most competitive offers in its category.
  • Users earn an impressive earn rates on dining, groceries, gas and public transit purchases, maximizing rewards on essential expenses.
  • The card includes a balance transfer offer, making it ideal for managing or consolidating existing credit card debt at a lower cost.
  • Designed for students, young professionals and budget-savvy shoppers, this card combines high earn rates with flexible reward redemption and no annual fee.

Disclosures:

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information. 


🥈 Silver: BMO CashBack Mastercard

Welcome Bonus: Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.† Expires Jan 31, 2026

On BMO'sSecure Site

Get this card if you...

  • want to earn cash back on everyday purchases
  • value the flexibility to redeem cash back at any time
  • value a great welcome offer

  • The BMO CashBack Mastercard is a no annual fee cashback card that offers strong rewards on everyday purchases.
  • Cardholders earn cash back on gas, making it one of the best no-fee options for commuters and frequent drivers.
  • The card features a balance transfer welcome offer, providing a practical way for new users to save money on interest payments.
  • With automatic monthly cashback payouts, users enjoy hassle-free rewards without the need for manual redemptions.
  • It offers broad Mastercard acceptance, secure online shopping protection and access to BMO’s digital banking tools for easy account management.

Disclosures:

  • *Terms and conditions apply.
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

🥉Bronze: Tangerine Money-Back card

Welcome Bonus: Earn 10% cash back for 2 months† (up to $100). Expires Aug 31, 2025

On Tangerine'sSecure Site

Get this card if you...

  • want flexible cash back categories
  • want unlimited cash back
  • want to avoid paying an annual fee

  • The card provides flexibility, allowing users to tailor their rewards to match personal spending patterns and priorities.
  • 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. 
  • Cashback is automatically deposited into your account, ensuring seamless and convenient access to your earned rewards.
  • It also comes with valuable Mastercard perks, such as purchase protection and extended warranties, adding extra value and security to purchases.

Best no annual fee Visa card in Canada

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). Expires Oct 31, 2025

On Scotiabank'sSecure Site

Get this card if you...

  • want to earn cash back with no annual fee
  • value a good welcome offer
  • don't need comprehensive insurance benefits

  • If you’re looking for a no-fee, no-frills credit card that’ll let you earn points as you spend on essentials, the Scotiabank 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.

Disclosures:

  • *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 no fee Mastercard with insurance perks

Welcome Bonus: Earn 10% cash back for 2 months† (up to $100). Expires Aug 31, 2025

On Tangerine'sSecure Site

Get this card if you...

  • want flexible cash back categories
  • want great perks like lounge access
  • want to avoid paying an annual fee

  • 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 Canadian no annual fee card for Amazon

Welcome Bonus: Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for the first 6 months† ($3,000 total spending cap).

On MBNA Credit Cards'Secure Site

Get this card if you...

  • shop at Amazon.ca or Whole Foods and want cash back rewards
  • want to save on fx fees with rewards on international purchases
  • want no annual fee while still earning great rewards

  • 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 no fee travel credit card

Welcome Bonus: Earn up to 10,000 Aventura Points† for no annual fee.

On CIBC'sSecure Site

Get this card if you...

  • want to earn Aventura points with no annual fee
  • value travel perks, including comprehensive travel insurance
  • value a great welcome offer

  • We love the CIBC Aventura® Visa* thanks to its generous sign-up bonus for new accounts:
  • Get up to 10,000 Aventura Points (up to $100 in travel value).†

    • 2,500 Aventura Points when you complete all five of these activities within 60 days of your CIBC Aventura® Visa* card account approval.†

    • 7,500 Aventura Points after you make your first purchase within the first 4 monthly statement periods.†

  • 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.

Disclosures:

  • †Terms and Conditions Apply. This offer is not available in Quebec.
  • The information for the CIBC Aventura® Visa* Card been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

Best no fee low-interest card

Welcome Bonus: Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening.

On MBNA Credit Cards'Secure Site

Get this card if you...

  • want a low interest rate with no annual fee
  • value extended warranty and purchase protection
  • want to pay down existing credit card debt

  • 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. 
  • Plus, the purchase APR is 12.99% so you won’t have to feel so guilty for using it when you shop. 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.

Disclosures:

  • †, ✪, 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 no fee annual fee credit card with reward points

Welcome Bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. Plus, earn up to 10,000 bonus points†.

On MBNA Credit Cards'Secure Site

Get this card if you...

  • want to earn rewards on everyday purchases such as groceries
  • value flexible redemption options
  • want to avoid paying any annual fees

  • As one of Canada's best no fee credit cards, MBNA offers rewards on digital media memberships, bills, groceries, and dining/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.

Disclosures:

  • ‡, ††, ✪, ***, 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.

No annual fee credit card pros and cons

Pros
  • Cost savings: The most obvious benefit - you’re not paying a yearly fee just to keep the card in your wallet
  • Less pressure to max out: Without an annual fee to offset, you don’t need to stress about whether you’re getting enough value from the card to justify its cost
  • Great for beginners or occasional users: Perfect for those new to credit cards or building credit, as they’re often easier to qualify for and have lower risk. If you don’t use credit cards frequently, a no-fee card ensures you’re not paying for something you rarely use
Cons
  • Basic insurance: You might snag purchase protection or extended warranty coverage, even without the annual fee
  • Higher APR: Some no-fee cards compensate with higher APRs, so carrying a balance could be more costly
  • Foreign transaction fees: Many no-fee cards charge fees (often around 2.5%) on purchases made in foreign currencies
How-To

How to negotiate a credit card's annual fee

It's possible to negotiate your credit card's annual fee, but it's not a sure thing. Call your credit card company and politely ask if they can waive the annual fee. Make sure to highlight your loyalty as a customer and your good payment history. Additionally, some banks offer annual fee waivers on credit cards as part of their premium chequing account packages.

Cory Santos Credit card editor

When is a credit card annual fee worth paying?

The best no annual fee credit card is the one that aligns perfectly with your spending habits and financial goals. Whether you're a cash back enthusiast, a travel rewards junkie, or simply looking to build your credit, there's a no-fee card out there with your name on it.

Remember, just because you're not paying an annual fee doesn't mean you should settle for less. The right no-fee card can offer a treasure trove of perks, from juicy welcome bonuses to robust insurance coverage. It's like finding a loonie on the sidewalk every time you swipe!

Best no annual 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.

Cory Santos Credit card 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, BlogTO, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk. He's also the creator and author of the annual Money.ca Credit Card Awards.

Tyler Wade Personal finance 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.

Disclaimer

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.

†Terms and Conditions apply.