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Best no annual fee Credit cards

Best No-Fee Credit Cards in Canada

Best No-Fee Credit Cards in Canada

Are you looking for a no-fee credit card? These credit cards have no annual fee.

It is therefore advised to keep a card like that, year after year, to improve your credit history.

Here is a table summarizing the different offers. For more details, read on or click on the name of a card.

SimplyCash™ from American Express

Would you like a cashback credit card with no-annual-fee and a high earning rate on all your purchases? Here’s an option for you: the SimplyCash™ from American Express.

With this Card, you earn a 1.25% cashback on all purchases.

For the first 6 months, you can earn 4% cash back with the SimplyCash™ from American Express (up to $200 cash back).

And you’ll get insurance with it: $100,000 travel accident insurance, Purchase Protection® Plan, Buyer’s Assurance® Protection Plan.

Best Western Rewards Mastercard

If you’re looking for a credit card with no annual fee but with a welcome bonus, the Best Western Rewards® Mastercard is the card for you!

You earn 20,000 Best Western points after your first purchase! It can get you at least one free hotel night.

With this card you earn:

  • 5 points per dollar at Best Western properties
  • 1 point per dollar anywhere else, including Costco

American Express® Green Card

Would you like a travel rewards credit card with no annual fee? Here is an option for you: the American Express® Green Card.

By signing up for the American Express® Green Card, you can earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your Card in the first 3 months of Cardmembership. It’s equal to $100, 10,000 Aeroplan points or 12,000 Marriott Bonvoy points.

With this no-fee Credit Card, you will also have access to online promotional offers to get points or rebates on your purchases.

BMO® AIR MILES® MasterCard®

With this exclusive offer for the BMO® AIR MILES® Mastercard®*, you earn 1,500 AIR MILES Bonus Miles after $1,000 in Card purchases, representing a $150 cash value. Besides, it’s a no-annual-fee credit card.

With the BMO® AIR MILES® Mastercard®*, you get 3x the Miles for every $25 spent at participating AIR MILES Partners. And 1 mile for every $25 you spend, Costco included.

You can also get a 1.99% introductory interest rate on Balance Transfers for 9 months (1% fee applies to balance amounts transferred).

MBNA Rewards Platinum Plus® Mastercard®

The MBNA Smart Cash Platinum Plus® Mastercard® is one of Canada’s best no-fee cash back credit cards.

With this card you can get 2% for some purchases:

  • gas
  • grocery stores

Until the total gas and grocery purchases in the applicable month reaches $500. And 0.5% everywhere else.

For a limited time, you can get 5% cash back for the first 6 months, up to $150.

CIBC Aventura® Visa* Card

The CIBC Aventura® Visa* Card is one of the best no-fee Visa credit cards with travel rewards in Canada.

You can get 7,500 bonus Aventura Points when you make your first purchase. Plus, earn up to 2,500 additional Aventura Points for a total of 10,000 points.

With this Card, you earn:

  • 1 point for every $1 spent at eligible gas stations, 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

And this card has valuable insurance:

  • Auto Rental Collision and Loss Damage Insurance
  • $100,000 Common Carrier Accident Insurance
  • Purchase Security and Extended Protection Insurance

Scotia Momentum® No-Fee VISA* Card

With the Scotia Momentum® No-Fee VISA* Card, you earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases)

With this no-fee credit card you earn:

  • 1% cash back on gas station, grocery store and drug store purchases and recurring bill payments
  • 0.5% cash back on all other purchases†

Would you like more cash back? Consider the Scotia Momentum® VISA Infinite* card or Scotia Momentum® VISA* card.

MBNA Rewards Platinum Plus® Mastercard®

The MBNA Rewards Platinum Plus® Mastercard® is one of the best no-fee credit cards in Canada.

With this card, you earn 2 points per dollar on some purchases:

  • gas
  • grocery stores
  • restaurants

One caveat: there is a $5,000 max annual spend per category. And 1 point per dollar everywhere else.

For a limited time, you can get 10,000 welcome bonus points, a $100 value on travel purchases charged to your Card.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card has no annual fee and offers cashback.

You can earn an additional 15% cash back (up to $150) when you spend up to $1,000 on everyday purchases in the first 2 months.

You can choose two to three categories of purchases (grocery, gas, furniture, home improvement, recurring bill payments, drug store, etc.) to earn 2% cashback! And with unlimited annual cashback!

Besides, the Tangerine Money-Back Credit Card comes with additional benefits:

  • 90 days purchase insurance
  • One year extended warranty

Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.

NBC mycredit Mastercard

With the NBC mycredit Mastercard, you earn:

  • 1% cash back on restaurant purchases and recurring pre-authorized payments
  • 0.5% cash back on all other purchases, including at Costco

Cash back is automatically applied to your credit card statement every billing cycle.

We recommend this credit card for those who are new to credit cards and want a credit card with no annual fee. Especially since this credit card comes with some insurance for your purchases, including mobile device insurance (which is rare for a no annual fee credit card ).

Frequent Asked Questions about credit cards

Here are frequently asked questions in the milesopedia community about credit cards in Canada.

What is the best credit card with no annual fee in Canada?

Most of the credit cards with no annual fee on this page are excellent to get started. If you want points for travel, you could apply for the

Should I have a credit card with no annual fee in my wallet?

A credit card with no annual fee is a useful card when you’re starting or don’t have a long credit history.

As the name implies, you won’t pay any fee from year to year, and you can keep it for the long term. Be aware that although they are free, they are not the most rewarding. Many credit cards at $120, $399 or even $699 will save you a lot more on your trips than someone who swears by “no fee cards”.

Thus this credit card will generally be the first one on your credit history, a significant asset for establishing your credit score, or allowing you to use it at a specific retailer. You can apply for it along with other credit cards. Depending on the institution, there is no minimum income required, and you could get welcome bonus points or cashback.

Can I earn reward points with no-fee credit cards ?

Of course, you do. You can earn a bonus with some no-annual-fee credit cards like cash back, travel rewards or even a free hotel night! But these offers are often less than those coming with a credit card with an annual fee.

Are there any disadvantages to choosing credit cards with no annual fee?

These credit cards may offer attractive bonuses, help you build your credit history, but the insurance, benefits and accrual rates on spending are not equivalent to those of credit cards with annual fees.

What is the best credit card in Canada?

There are more than 200 credit cards in Canada. There is no “one best credit card” in Canada.

Several credit cards can match your needs: