BEST NO FEE CREDIT CARD CANADA
No annual fee credit cards are for consumers who want to enjoy a credit card without having to commit to a yearly fee. The rewards are often less generous than what you’ll see on annual fee rewards cards. Also, the APRs may be higher.
When comparing no-annual-fee credit cards, don’t forget to look at interest rates and other charges. Also, look at the card’s rewards rate for all purchases, not just bonuses. A card may offer 1% cashback on groceries and gas, for example, but only .05% on other purchases.
Tangerine Money-Back Credit Card
2% cashback on two categories
$250 if you spend $5000 on everyday purchases in the first three months.
Rogers World Elite Mastercard
4% cashback on foreign transactions
$25 for making your first purchase in teh first three months
MBNA Rewards Platinum Plus Mastercard
2 points per dollar on gas, groceries and drug stores
10,000 points for making $500 in purchases and signing up for e-billing in the first three months
Simplycash Credit Card from American Express
1.25% cashback on every dollar spent
2.5% cashback (up to $150) for the first three months
Scotiabank Scene Visa
5 Scene points per dollar spent at Cineplex
2500 Scene points after your first $500 purchases in the first three months
TANGERINE MONEY-BACK CREDIT CARD
Tangerine has long been one of the best online banks, and the Money-Back Credit Card earned a spot on this list. The card is cashback centric and gives you flexibility on what you make money on. You will have an option of two areas to earn 2% cashback on. The rest of your transactions provide you 0.5% cashback.
As well, the card has a 1.95% promotional interest rate for six months for balance transfers. Plus, with purchase assurance and extended warranties included, this card is sound.
Finally, the card offers a current promo of $250 if you spend $5000 in the first three months. If you are looking for a no-fee credit card with spunk, then it might be time to look at the Tangerine Money-Bank Card.
ROGERS WORLD ELITE MASTERCARD
Ideal for world travelers, the Rogers World Elite Mastercard is a great card to consider. The card itself comes with an aggressive 4% cashback on all foreign transactions. Plus, 2% cashback on Rogers services and 1.75% on all other purchases.
As well, the card has a great little sign-up bonus with $25 credited to your account with a single transaction.
Finally, you will also enjoy some great perks such as Mastercard Airport Experiences. The Rogers World Elite Mastercard is a great card and an ideal no-fee credit card for travellers!
MBNA REWARDS PLATINUM PLUS MASTERCARD
With great perks and a fixed rate, the MBNA Rewards Platinum Mastercard deserves a spot on this list. The card links to the MBNA Rewards program, which allows users to spend points for cash or on other items.
The card itself provides users with 2 points per dollar on gas, grocery and drug store purchases. As well, it provides users with 1 point per dollar on all other purchases. Plus, with the 10,000-point bonus and some great extras, the card is reliable.
Finally, you only need fair credit for approval. For a no-fee card, the MBNA Rewards Platinum Mastercard is worth a peek, if only for the perks.
SIMPLYCASH CREDIT CARD FROM AMERICAN EXPRESS
With the perks of AMEX, without the fee, the Simplycash Credit Card from American Express is great. The card comes with a 2.5% cashback for the first three months up to $150 back. After the welcome period ends, the card has a standard 1.25% cashback on all purchases.
As well, the card comes with AMEX Invites, which gives access to concerts and experiences. Plus, the card has shopping protection to cover your purchases.
Finally, the card comes with a 19.99% interest rate, and access to refer a friend bonus! The Simplycash Credit Card from American Express is one of the best no-fee cards on the market.
SCOTIABANK SCENE VISA
One of the perennial favourite no-fee cards, the Scene Visa deserves a spot on this list. This Scotiabank card partners with the Scene Rewards program, and we love it. The card offers five points per dollar on Cineplex purchases, including food. On everything else, the card offers one point per dollar.
As well, the card has a great bonus of 2500 Scene points after $500 spent in the first three months. That is two free movie tickets for using your card!
Finally, the card offers rental car deals and optional insurance, all included! For a no-fee card, the Scotiabank Scene Visa is the perfect card for cinephiles. For the rest of us, it is a solid no-fee option for everyday use.
THE BOTTOM LINE
Finding the right no-fee credit card is a bit of a journey, and there is no single card for everyone. The perfect card will fit your needs and reward you where you need it. Whether you are looking for perks, or rewards, the right card for you is on this list.
Best overall no-fee credit card: Tangerine Money-Back Credit Card
Best no-fee credit card for cashback: Tangerine Money-Back Credit Card
Best no-fee credit card for travellers: Rogers World Elite Mastercard
Best no-fee credit card for perks: Simplycash Credit Card from American Express
Best no-fee credit card for rewards program: Scotiabank Scene Visa