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No Fee Credit Cards

Last Updated: June, 2020

Best No Fee Credit Card Canada 2020

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.

No Fees Credit Card Interest Penalty 3d Illustration

COMPARE THE BEST NO FEE CREDIT CARDS FOR CANADIANS

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

  • 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¬†

No Fee Credit Cards Summary

CREDIT CARD

INTEREST RATE

PERKS

SIGN-UP BONUS

Tangerine Money-Back Credit Card

19.95%

2% cashback on two categories

Purchase Assurance

Extended Warranties

$250 if you spend $5000 on everyday purchases in the first three months.

Rogers World Elite Mastercard

19.99%

4% cashback on foreign transactions

2% on Rogers services

1.75% on all other eligible purchases

$25 for making your first purchase in teh first three months

MBNA Rewards Platinum Plus Mastercard

19.99%

2 points per dollar on gas, groceries and drug stores

1 point per dollar on everything else

10,000 points for making $500 in purchases and signing up for e-billing in the first three months

Four points per dollar on gas, grocers and drug stores in the first three months

Simplycash Credit Card from American Express

19.99%

1.25% cashback on every dollar spent

American Express Invites

2.5% cashback (up to $150) for the first three months

Scotiabank Scene Visa

19.99%

5 Scene points per dollar spent at Cineplex

1 Scene point per dollar spent

2500 Scene points after your first $500 purchases in the first three months

Other Popular Credit Cards for Canadians

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