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Best No Fee Credit Cards in Canada

Best No Fee Credit Cards in Canada

In the past, you had to pay annual fees if you sought to get rewards from any credit card. These charges unlocked various bonuses, which included the potential to get rewards — either points or cash back— on each dollar spent. Luckily, there are more options now. In this post, we look at the best no annual fee credit card. 

What are No Fees Credit Cards and How They Compare to Others

A rewards credit card does not make financial sense if you do not use it enough to compensate for the fees. A lot of Canadians can’t justify an outlay of as much as $100 annually for the benefit of receiving rewards. There are numerous reasons why fee-based cards with bonuses don’t make sense financially, whether you’re a newcomer to Canada, a meticulous budgeter, or you’re on a reduced income. There are, luckily, numerous credit cards with no fees that still permit you to access various other benefits, for example, insurance, and to earn rewards.

Best No Annual Fees Credit Cards – Editors Pick

31 Results Updated: October 17, 2019

19.99%

Interest Rate

 

$

Annual Fee

 

-

Balance Transfer

 

$80,000

Minimum Income

More Details

  • Annual Fee: No annual fee
  • Interest: purchases - 19.99%
  • Interest: cash advances - 22.99%
  • Additional Cards: Free

Card details

Network: Mastercard
Provider: Rogers
Card type: Cashback, No Annual Fee

19.99%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Minimum Income

More Details

  • Annual Fee: No annual fee
  • Interest: purchases - 19.99%
  • Interest: cash advances - 22.99%
  • Additional Cards: Free

Card details

Network: Mastercard
Provider: Rogers
Card type: Cashback, No Annual Fee

Special Offers

Get $25 in cash back rewards when you make your first card purchase within 3 months of receiving your card

19.90%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 640

More Details

Additional card features
Accord D financing
Quick and flexible financing for projects that are important to you.

Mobile payments
Tap and pay with your smartphone. It’s easy, free and secure.

Zero Liability in the event of fraud
Against fraudulent transactions made to your card.


Additional card at no annual fee
You can get an additional card for your spouse or other family member free of charge.


Manage your account
On your computer, smartphone or tablet


Cash advances
Up to $2,500 a day, anywhere in the world.


Hertz discount
Up to 15% at participating Hertz locations worldwide.


Balance transfers
Transfer the outstanding balances of your credit cards from other financial institutions to your Desjardins credit card account.


Other features

  • 21-day grace period to pay your bill without incurring credit charges
  • No transaction fees
  • Contactless payment technology
  • Online shopping protection
  • Visa Checkout (available on Visa cards only)
  • Masterpass

Options

  • Overdraft transfer to cover a cheque, bill payment, or any other transaction that exceeds the balance in your Personal Chequing Account (PCA) or any other eligible account
  • Credit Balance Insurance for a minimal fee
  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Online monthly account statements at no charge

Card details

Network: Mastercard
Provider: Desjardins Credit Cards
Card type: Cashback, No Annual Fee

19.90%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 640

More Details

Additional card features
Accord D financing
Quick and flexible financing for projects that are important to you.

Mobile payments
Tap and pay with your smartphone. It’s easy, free and secure.

Zero Liability in the event of fraud
Against fraudulent transactions made to your card.


Additional card at no annual fee
You can get an additional card for your spouse or other family member free of charge.


Manage your account
On your computer, smartphone or tablet


Cash advances
Up to $2,500 a day, anywhere in the world.


Hertz discount
Up to 15% at participating Hertz locations worldwide.


Balance transfers
Transfer the outstanding balances of your credit cards from other financial institutions to your Desjardins credit card account.


Other features

  • 21-day grace period to pay your bill without incurring credit charges
  • No transaction fees
  • Contactless payment technology
  • Online shopping protection
  • Visa Checkout (available on Visa cards only)
  • Masterpass

Options

  • Overdraft transfer to cover a cheque, bill payment, or any other transaction that exceeds the balance in your Personal Chequing Account (PCA) or any other eligible account
  • Credit Balance Insurance for a minimal fee
  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Online monthly account statements at no charge

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Cashback, No Annual Fee

19.90%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 640

More Details

You also get

  • Purchase Protection and Extended Warranty
  • Easy account management
  • Accord D financing: fast and flexible
  • Mobile payment: pay with your smartphone
  • Cash advances: up to $2,500 per day
  • An easier way to pay online with Visa Checkout
  • Zero Liability in the event of fraud
  • Option to transfer your balances to your Desjardins credit card

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Cashback, No Annual Fee, Student

19.95%

Interest Rate

 

Free

Annual Fee

 

3.00%

Balance Transfer

Promotional Balance Transfer: 1.95% interest for the first 6 months

$35,000/year

Minimum Income

Min Credit Score: 640

$25 Gift Card upon Approval

More Details

Earn cash back

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

Card details

Network: Mastercard
Provider: Tangerine Credit Cards
Card type: Cashback, Low Interest, No Annual Fee, Travel Rewards

Special Offers

Earn 4% Money-Back Rewards in up to 3 Categories for 3 Months

19.99%

Interest Rate

Promotional APR: 7.99%

Free

Annual Fee

 

22.99%

Balance Transfer

 

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Cashback, No Annual Fee

Special Offers

7.99% introductory interest rate on everyday purchases for the first 6 months

16.99%

Interest Rate

 

Free

Annual Fee

 

16.99%

Balance Transfer

Promotional Balance Transfer: 3.99% for 6 Months

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Great reasons to get this card

  • Save up to hundreds of dollars a year
  • Pay down higher interest rates balances faster
  • Transfer higher rate balances and save even more

Scotiabank No Annual Fee Credit Card with Low-Interest Rate

GET AN INTRODUCTORY 3.99% INTEREST RATE ON BALANCE TRANSFERS FOR THE FIRST SIX MONTHS

Save up to hundreds of dollars a year on interest

Save with the combination of a low-interest rate and no annual fee – it could add up to hundreds a year!

Pay down higher interest rate balances faster

Stay one step ahead of your balance – a lower interest rate makes this card an affordable way to finance those medium to large purchases you are making.

Transfer higher rate balances and save more

Switch balances over from higher-interest-rate credit cards to the No-Fee Scotiabank Value Visa Card. By consolidating your higher rate balances, you’ll save on interest and make paying bills easier.

Save up to hundreds of dollars a year

  • Introductory 3.99% interest rate on Balance Transfers for the first six months†.
  • 16.99% after the introductory rate
  • Pay down balances faster
  • Simplify your monthly payments

 

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Balance Transfer, No Annual Fee

Special Offers

3.99% introductory interest rate on balance transfers for the first 6 months

19.99%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • Get 150 Bonus AIR MILES®* Reward Miles when you spend $1,000 within the first three months of Cardmembership
  • Earn 1 mile for every $15 in Card purchases at AIR MILES®* Sponsors and 1 for every $20 in Card purchases everywhere else
  • Show your Collector Card and use your AIR MILES®* Gold Business Card at Sponsor locations to earn miles twice
  • Pay no annual fee. Plus, enjoy the flexibility to pay balances in full or over time
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, No Annual Fee, Travel Rewards

Special Offers

150 Bonus AIR MILES®* Reward Miles when you spend $1,000 within the first three months of Cardmembership

19.99%

Interest Rate

 

Free

Annual Fee

 

22.99%

Balance Transfer

 

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership
  • Earn 1.25% cash back on purchases when your Welcome Rate ends
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Optional Balance Transfer Offer – Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Balance Transfer, No Annual Fee, Travel Rewards

Special Offers

2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership

Here are the choices from CompareMyRates.ca for the best no annual fee credit cards for the year 2018 in Canada. We have a credit card that’s suitable for you, regardless if you desire rewards or cash back because you pay a lot for groceries, or you’re seeking to pay down your debt.

Compare All No-Fee Credit Cards

Tangerine Money-Back Credit Card

The card most likely to be the best no annual fee credit card for this year is the Tangerine Money-Back Credit Card, which was also popular in 2017. You receive 2 percent cash back in any two spending categories when you use this credit card for purchases. You also earn 0.5 percent cash back on anything else that you buy. Tangerine credits cash back once a month to your statement. You’ll get benefits in a third spending category receiving 2 percent cash back if you opt to let the bank place your earnings on a Tangerine savings account. The groupings available are restaurants, groceries, drugstore, gas, furniture, entertainment, recurring bills, hotel-motel, public transportation, home improvement, and parking. This credit card is well liked in Canada because the category choices make it very customizable to your distinctive spending patterns.

Why Use a No Annual Fee Credit Card

There has never been a better time to look for the best no annual fee credit card in Canada than now. Whether you’re looking for rewards, cash back, a free flight, miles, or low-interest rates, issuers are stuffing tons of value onto their no annual fee card offerings. There are usually four excellent reasons to look for the best no annual credit card for you:

  1. Firstly, you don’t spend enough to justify a yearly fee.
  2. Secondly, if your primary credit card is frozen or it gets lost or stolen, you’ll have a back-up in your wallet.
  3. Thirdly, you don’t need some of the extras offered by annual fee credit cards.
  4. Finally, you’re unwilling to commit to the account type without trying it first.

Regardless of your reason, it’s important to note that there have never been more credit cards without annual fees providing as much value as we have today.

No Annual Fees Credit Cards – Conclusion

If you like rewards, keep in mind that the best offer is no annual fee for the first year, coupled with a welcome bonus of a free flight. If there are no yearly fees, you can take out as many cards with strong welcome incentives as you’d like. Just make sure you pay attention to any minimum spend requirements and be careful to spread out your applications a bit. Besides that, it’s an excellent opportunity to obtain a free flight and to test different cards to figure out which rewards program is the best!

Compare Credit Cards with No Annual Fee

In some cases, no-fee cards can bear many great privileges and benefits with their use such as cash-back bonuses, travel benefits, medical benefits and other privileges. Here is an example: By owning an American Express AIR MILES Credit Card you will reap 1 bonus mile for every $15 you spend in card transactions with approved and associated AIR MILES Sponsors as well as 1 bonus mile collected for every $20 you spend in other transactions. Additionally, you will also get a reward of 500 bonus miles the first time of using your card and the best part is, there is no annual fee charged. In case you want some cash back benefits, getting the SimplyCash Card from American Express is a great option. This card offers up to 5%  cashback that applies to all gas, supermarket, and restaurant transactions for an initial 6-month period and up to 1.25% cash back for all transactions that apply on the program after that. A lot of no-fee credit cards come with some pretty good benefits like rental vehicle discounts and deals, theft protection, 24-hour service in case of an issue, and others. As long as you pay the balance on time and you don’t use the card recklessly, you will reap these rewards with no extra fees.

Best No Fee Credit Cards

There are many ways banks waive fees or give away no-fee credit cards to their members.

Some credit card providers may waive their annual fees usually on the first year for new customers and then charge low subsequent annual fees.  Other banks may still charge annual fees but offer discounted fees or low-interest rates to their customers. Some credit card providers go far and beyond to lure potential members to sign up by offering zero fees or no fees on certain transactions such as foreign transaction fees.  Some banks may waive fees for foreign transactions which are truly beneficial especially to those who travel for pleasure, purchasing items along the way, and those conducting their businesses abroad who earn huge savings by not being imposed the extra fees for multiple international transactions. As usual, additional bonuses are offered to new customers including cash back rewards and mileage points that can be converted to free airline tickets when the customers have accumulated enough points from their credit card transactions.