The credit cards on this page offer travel points or cash back. And right now, they all have a welcome offer that includes a first-year annual fee rebate!
These are often the best offers on the market as they are credit cards that usually charge an annual fee.
These credit cards offer:
- Elevated points or cash back earning rates
- Premium insurance for your travels or purchases
- Benefits such as travel credits and airport lounge access
Best First-Year Free Credit Cards - Summary
Two tables summarize the different offers (travel or cash back). For more details, read on or click on the name of a card.
Here are the best first-year free travel credit card offers:
Here are the best first-year free cash back credit card offers:
Best First-Year Free Credit Cards - Travel Points
TD First Class Travel® Visa Infinite* Card
With the TD First Class Travel® Visa Infinite* Card, you can get up to 115,000 TD Points† and a first-year annual fee rebate:
- Welcome Bonus of 20,000 TD Points when you make your first Purchase with your Card†
- 95,000 TD Rewards Points if you spend $5,000 within 180 days of Account opening†
- A Birthday Bonus of up to 10,000 TD Rewards Points†
Get an Annual Fee Rebate for the first year†.
With the TD First Class Travel® Visa Infinite* Card, you get:
- 8 TD Rewards Points† for every $1 you spend when you book travel through Expedia® For TD
- 6 TD Rewards Points† for every $1 you spend on Groceries and Restaurants
- 4 TD Rewards Points† for every $1 you spend on regularly recurring bill payments set up on your Account
- 2 TD Rewards Points† For every $1 you spend on other Purchases
This TD credit card is one of the best TD travel rewards cards.
CIBC Aventura® Visa Infinite* Card
The CIBC Aventura® Visa Infinite* Card is one of the best Visa credit cards with travel rewards.
You can earn up to 40,000 Aventura points with this CIBC digital exclusive offer for Milesopedia readers.
- 20,000 Aventura Points when you make your first purchase†
- 20,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods†
Plus, you can get a first-year annual fee rebate (a $139 value). With this CIBC Aventura Credit Card, you get:
- 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre†
- 1.5 points for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†
- 1 point for every $1 spent on all other purchases†
The CIBC Aventura® Visa Infinite* Card also offers:
- Airport lounges access: Visa Airport Companion Program membership with 4 complimentary visits per year
- A NEXUS application fee rebate (a $50 value)
The minimum annual income required for this card is $60,000 (personal) or $100,000 (household).
CIBC Aventura® Gold Visa* Card
If you don’t meet the income requirements for the CIBC Aventura® Visa Infinite* Card, you can apply for the CIBC Aventura® Gold Visa* Card. The minimum annual income required for this card is $15,000 (household).
You can earn up to 40,000 Aventura points with this CIBC digital exclusive offer for Milesopedia readers.
- 20,000 Aventura Points when you make your first purchase†
- 20,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods†
Plus, you can get a first-year annual fee rebate (a $139 value). With this CIBC Aventura Credit Card, you get:
- 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre†
- 1.5 points for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†
- 1 point for every $1 spent on all other purchases†
The CIBC Aventura® Gold Visa* Card also offers:
- Airport lounges access: Visa Airport Companion Program membership with 4 complimentary visits per year
- A NEXUS application fee rebate (a $50 value)
TD® Aeroplan® Visa Infinite* Card
With the TD® Aeroplan® Visa Infinite* Card, you can earn up to 50,000 Aeroplan points with no annual fee for the first year:
- A welcome bonus of 10,000 Aeroplan points when you make your first purchase with your new card†
- 25,000 Aeroplan points when you spend $5,000 within 180 days of Account opening†
- 15,000 Aeroplan points when you spend $7,500 within 12 months of Account opening†
- $100 NEXUS fee rebate†
- Up to eight passengers travelling on the same reservation will all enjoy their first checked bag free (up to 23kg/50lb) when your travel originates on an Air Canada flight†
It’s the best TD credit card for occasional Air Canada travellers.
With the TD® Aeroplan® Visa Infinite* Card, you earn 1.5 points† per dollar of eligible purchases for:
- Grocery stores
- Gas stations
- Air Canada purchases, including Air Canada Vacations
BMO eclipse Visa Infinite* Card
When you sign up for our exclusive offer on the BMO eclipse Visa Infinite* Card, you can earn up to 70,000 BMO Rewards points as well as a$120 annual fee waiver for the first year:
- 40,000 points after $3,000 in purchases in the first three months
- 30,000 points at annual renewal if you have made $25,000 in purchases with the card in the first 12 months
Plus, you’ll get a $50 annual lifestyle credit – per calendar year – to spend however you want.
With the BMO eclipse Visa Infinite* Card, you can earn 5 BMO Rewards points per dollar spent on:
- Groceries
- Dining
- Food delivery
- Gas
- Transit
And 1 BMO Rewards point for every $1 spent on everything else. Plus, if you add an authorized user to your account, you’ll earn 10% more points.
BMO Ascend World Elite Mastercard
The BMO Ascend World Elite Mastercard is one of the best World Elite Mastercard credit cards with travel points in Canada. With our exclusive offer, you can get up to 70,000 Welcome Bonus Points:
- 40,000 points when you spend $3,000 in the first 3 months
- 2,500 points per month after $2,000 in monthly purchases from the 4th to the 15th month, up to 30,000 points
Plus, the annual fee is waived in the first year for both the primary cardholder and authorized users.
With the BMO Ascend World Elite Mastercard, a premium credit card from BMO, you get:
- 5 points per dollar on travel purchases
- 3 points per dollar on dining purchases
- 3 points per dollar for entertainment purchases
- 3 points per dollar on recurring bill payments
And 1 point for every $1 spent everywhere else, including at Costco. You can use your points for travel purchases on the BMO Rewards website (flights, hotels, car rentals, all-inclusive).
The BMO Ascend World Elite Mastercard also offers:
- Four annual complimentary passes to airport VIP lounges
- Excellent Premium insurance for your travels or purchases
- a premium concierge service
BMO Rewards® World Elite®* Business Mastercard®*
The BMO Rewards® World Elite®* Business Mastercard®* is one of Canada’s best Business travel Mastercard credit cards. You can earn up to 70,000 points as a welcome bonus:
- 50,000 points after you spend $5,000 in the first 3 months
- 20,000 points after you spend $35,000 in the first twelve months
Plus, there is no annual fee for the first year! And you get 2 free visits a year to DragonPass airport lounges.
You can also enjoy a 0% introductory interest rate on balance transfers for nine months (with a 3% transfer fee).
With BMO World Elite Business Mastercard, you earn 4 points for every dollar you spend on:
- gas purchases
- office supply purchases
- cell phone/internet payments
And 1.5 points for every dollar you spend, including at Costco or for significant purchases at home improvement stores.
You can use your points for travel purchases on the BMO Rewards website (flights, hotels, car rentals, all-inclusive). Finally, you can combine the points you earn with the other two BMO Rewards cards to save even more on your travel.
With the BMO World Elite Business Mastercard, you get premium insurance:
- Collision Damage Waiver
- Car Rental Personal Effects & Business Property
- Car Rental Accidental Death & Dismemberment
- Baggage & Personal Effects
- Baggage insurance in case of delay
- Trip Cancellation Insurance
- Trip Interruption/Trip Delay
- Departure flight delay insurance
- Common Carrier Insurance
And for your purchases :
- Extended Warranty
- Purchase Protection
Best First-Year Free Credit Cards - Cash Back
TD Cash Back Visa Infinite* Card
With the TD Cash Back Visa Infinite* Card, you earn 3% cash back on:
- Grocery stores
- Gas stations
- Recurring bill payments
And 1% cash back on all other purchases.
It’s the best TD cash back credit card, especially for gas purchases.
With this new welcome offer, you could earn 10% cash back on gas and grocery purchases and pre-authorized payments for the first three months (up to $3,500 in purchases). So you can earn up to $350 cash back!
Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.
Finally, you have good insurance coverage, such as travel medical insurance, delayed or lost baggage insurance, collision/loss damage insurance for car rentals and mobile device insurance.
BMO® CashBack® World Elite®* Mastercard®*
The BMO® CashBack® World Elite®* Mastercard®* is one of the best cash back Mastercard credit card in Canada.
For a limited time, you will earn up to 10% cash back on select purchases for the first 3 months (that’s up to $260 cash back). Besides, the annual fee is waived in the first year!
With the BMO® CashBack® World Elite®* Mastercard®*, you earn between 2% and 5% cash back on many spending categories:
- 5% on grocery purchases (on the first $500 you spend monthly)
- 4% on transit (on the first $300 you spend monthly)
- 3% on gas and electric vehicle charging (on the first $300 you spend monthly)
- 2% on recurring bill payments (on the first $500 you spend monthly)
Everywhere else, you’ll earn 1% cash back, including at Costco.
Finally, it is one of the only credit cards in its category to offer an extended warranty of 2 additional years.
CIBC Dividend® Visa Infinite* Card
The CIBC Dividend® Visa Infinite* Card is one of the best Visa credit cards with cash back in Canada.
With this CIBC Cash Back Credit Card, you get:
- 4% cash back on gas, EV charging, and grocery purchases†
- 2% cash back on eligible transportation, dining purchases and recurring payments†
- 1% cash back on all other purchases†
For example, if you spend $1,000 per month on groceries and/or gas and/or electric vehicle charging, you’ll earn $40 cash back per month or $480 cash back per year with this card for this category of purchases!
And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).
Earn 10% cash back welcome bonus of up to $200 (first 4 statements)!† And you’ll get a first-year annual fee rebate†!
And this CIBC Cash Back Credit Card offers many insurance coverages:
- Auto Rental Collision/Loss Damage Insurance
- $500,000 Common Carrier Accident Insurance
- Out-of-Province Emergency Travel Medical Insurance
- Purchase Security and Extended Protection Insurance
This is a digital-exclusive offer.† To be eligible for the offer:
- this offer must have been directly communicated to you from CIBC or from a partner/affiliate;
- you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you†.
This offer is reserved for you. Please do not forward it to anyone else. If you have opened, transferred or cancelled another eligible card within the last 12 months, we may approve your application, but you may not receive this offer.†
Scotia Momentum® VISA Infinite* Card
The Scotia Momentum® VISA Infinite* card is recognized year after year as one of the best cash-back credit cards in Canada.
Currently, there is no annual fee in the first year, including on additional cards. And you can earn 10% cash back on all purchases for the first three months (up to $2,000 in total purchases).
With the Scotia Momentum® VISA Infinite* card, you get :
- 4% on groceries and recurring payments
- 2% on gas and daily transit
- 1% on all other purchases
For example, if you spend $1,000 per month on groceries and/or recurring payments, you’ll earn $40 cash back per month, or $480 cash back per year with this card for this category of purchases! And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).
The Scotia Momentum® VISA Infinite* card is an excellent Visa credit card for cash back.
And its insurance benefits are excellent!
BMO AIR MILES®† World Elite®* Business Mastercard®*
The BMO AIR MILES® World Elite Business Mastercard particularly rewards AIR MILES collectors who wish to separate their personal and business spending.
You can earn up to 15,000 Bonus AIR MILES in your first year! In addition, there is no annual fee for the first year.
You earn 4x the Miles when you use your card at participating AIR MILES Partners. And 1 Mile for every $12 you spend everywhere else, including Costco.
With the BMO AIR MILES®† World Elite®* Business Mastercard, you benefit from various travel protections:
- Collision Damage Waiver
- Car Rental Personal Effects & Business Property
- Car Rental Accidental Death & Dismemberment
- Baggage & Personal Effects
- Baggage insurance in case of delay
- Flight Cancellation
- Trip Interruption/Trip Delay
- Flight delay
- Common Carrier Insurance
And for your purchases:
- Extended Warranty
- Purchase Protection
CIBC Dividend Platinum® Visa* Card
If you don’t meet the income requirements for the CIBC Dividend® Visa Infinite* Card, you could apply for the CIBC Dividend® Platinum Visa* Card. The minimum annual income required for this card is $15,000 (household).
With the CIBC Dividend® Platinum Visa* Card, you get:
- 3% cash back on eligible gas, electric vehicle charging and grocery purchases
- 2% cash back on eligible transportation, dining purchases and recurring payments
- 1% on all other purchases
For a limited time, receive a 10% welcome bonus in the form of up to $200 cash back (period covered by your first 4 statements). And you’ll get a first-year annual fee rebate!
And this CIBC Cash Back Credit Card offers some insurance coverage:
- Auto Rental Collision/Loss Damage Insurance
- $500,000 Common Carrier Accident Insurance
- Purchase Security and Extended Protection Insurance
BMO® AIR MILES® World Elite®* Mastercard®*
Thanks to this exclusive offer for the BMO® AIR MILES® World Elite Mastercard®*, you earn 2,000 miles after $3,000 in purchases, representing a cash value of $210.
Besides, the annual fee is waived in the first year! And until October 4, 2023, you can also get a samsung.ca promo code worth $518!
With this card, you earn 3 miles for every $12 spent at participating AIR MILES Partners. Everywhere else, you’ll earn 1 Mile for every $12 spent, including at Costco and Walmart.
And it’s the only AIR MILES credit card in Canada to offer a 25% discount on one worldwide AIR MILES flight redemption during the calendar year
The BMO® AIR MILES® World Elite®* Mastercard®* card also offers:
- Premium insurance for your travels or purchases
- Double the miles for car rentals with National or Alamo
- Concierge services
Who benefits from no-fee credit cards?
No-fee credit cards, also known as no-annual-fee cards, are aimed at various groups of people, including:
- Beginners and students: Those new to the world of credit cards, such as university students or young adults, can opt for a no-fee card to establish and build their credit history without incurring additional costs.
- People on a Limited Budget: Those who don’t want to or can’t pay an annual fee for a credit card may prefer a no-fee card. These cards avoid unnecessary costs for people who don’t use their cards regularly or who don’t spend enough to justify an annual fee.
- Occasional users: Those who don’t use their credit card frequently or have another main card with fees may opt for a no-fee card as a back-up or for specific expenses.
- People looking for Simple Rewards: Many no-fee cards offer simple rewards programs. These programs can be interesting for those who want to accumulate points or cashback without the hassle of complex reward structures or limitations.
- Travellers: Some travellers opt for no-annual-fee cards with no foreign transaction fees. These cards are ideal for occasional travellers who don’t want to pay extra for purchases abroad.
- People looking for a Complementary Card: Some credit cardholders choose a no-fee card as a complementary card for specific spending categories not covered by their primary card.
- Individuals in Transition: For those who have just closed another credit card or are looking for a temporary solution, a no-annual-fee card may be an attractive option while they determine their long-term credit card needs.
It’s always important to note that even if a credit card has no annual fee, other costs may be associated, such as high interest rates on outstanding balances or payments for different types of transactions. It is, therefore, essential to read the terms and conditions carefully and understand all the features and potential charges before applying for a credit card.
Best First-Year Free Credit Cards - Conclusion
These first-year free credit cards are great for getting started with rewards points or taking advantage of elevated welcome offers.
But be aware that some credit cards on the market charge a first-year annual fee and have outstanding welcome offers! This is, for example, the case of this HSBC credit card offer or all American Express credit cards.
Check out the best credit card offers available in Canada this month.
Best First-Year Free Credit Cards - Frequently Asked Questions
Here are frequently asked questions in the milesopedia community about credit cards in Canada.
Why are these credit cards first-year free?
Credit card issuers regularly run promotions to showcase their best credit cards.
So, to encourage you to sign up for one of these credit cards, the banks run first-year free offers. This allows you to test the product to see if it will work for you in future years.
How is the first-year annual fee rebated?
Generally, the first-year annual fee is charged on your first statement and immediately refunded.
In other cases, you will need to meet the Welcome Offer requirements to get the first-year annual fee refunded on the 4th or 5th statement/billing cycle.
Is it possible to have the annual fee waived for subsequent years?
Yes, you may get the annual fee waived for subsequent years. But to do this, you will need to negotiate your annual fee when you renew your credit card in the second year.
The customer representative may refund your annual fee for a second year if, for example, you made a significant volume of purchases on your credit card in the first year or if you have other products with the institution (mortgages, investments, etc.)
What is the best credit card with Reward Points?
With the many credit cards on the market, Milesopedia offers you to compare credit cards, according to your profile and with everything you need to know about current offers. Milesopedia is along your side to help you make the best credit card choice for you.
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: