Best No Fee Credit Cards In Canada 2021 - Calculate Rewards

Calculate which no fee Canada credit cards will earn you the best return, get our picks for the best cards of 2021, and compare top cards.
Last Updated 2021-08-12
Unlimited 2% Cash Rewards Paid Monthly With No Annual Fee. Earn 15% Cash Back When You Apply Today.

Credit card with annual fees can easily be worth it if you run enough spend through them to justify the cost. Whether that's through rewards earned directly through spend or how much you value the benefits of a card.

If you don't run enough spend through credit cards to make paying the fee worth it, only plan on using credit cards occasionally, or just have them as backup in the case of an emergency, a no annual fee credit card will be a solid option.

Review the best no annual fee credit cards in Canada and calculate which cards can earn you the most rewards and best return based on your spend.

Best No Fee Credit Cards In Canada

Tangerine Money-Back Credit Card
Best Overall No Fee Card
Simplii Financial Cash Back Visa
Best No Fee Card For Dining
BMO CashBack Mastercard
Best No Fee Card For Grocery
Home Trust Preferred Visa Card
Best No Fee & No FX Fee Card

This page details our top picks for the best no annual fee credit cards in Canada. There's also a Rewards Calculator at the bottom of this page that you can use to estimate which credit cards can earn you the best average return on your spend.

The cards on this page are updated periodically. New cards are introduced from time to time and the benefits of current cards could change at any time.

You can also use our Credit Card Finder Tool to search by spend across all credit cards in our database.


Best Overall No Fee Card

Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is one of the best no annual fee credit cards in Canada.

It earns 2% cash back on two select categories of your choice with the ability to select a third category if you choose to deposit your rewards into a Tangerine Savings Account.

There's no limit to the amount of rewards you can earn and you'll have access to your rewards monthly. You'll also be able to chance your 2% categories to suit your spending.

With the ability to focus your spending on a set two to three categories, the Tangerine Money-Back Credit Card is hard to beat.

Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Card
Intro Bonus
Earn an extra 15% back
Rewards Rate
2%
Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice
2%
Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.
0.5%
Earn 0.5% Money-Back Rewards on all other purchases.
Main Card Highlights
  • Earn an extra 15% back (up to $150) on up to $1,000 of your everyday purchases in the first 2 months with a Tangerine Money-Back Credit Card.
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
  • Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
  • No limit on the amount of Money-Back Rewards you can earn.
  • Change your 2% Money-Back Categories to suit your spending.
  • Extended warranty and purchase protection.
  • Income Requirement: $15,000/year Individual.
  • Want the same great earnings at no annual fee, but with additional benefits? Check out the Tangerine World Mastercard®.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

If you have an annual income of $60,000 or more, you'll receive the Tangerine World Mastercard which features the same great earning capabilities at no annual fee, but comes with additional benefits such as lounge access and travel insurance.

Tangerine World Mastercard®
Tangerine World Mastercard®
Intro Bonus
Earn an extra 15% back
Rewards Rate
2%
Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice
2%
Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.
0.5%
Earn 0.5% Money-Back Rewards on all other purchases.
Main Card Highlights
  • Earn an extra 15% back (up to $150) on up to $1,000 of your everyday purchases in the first 2 months with a Tangerine World Mastercard.
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
  • Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
  • No limit on the amount of Money-Back Rewards you can earn.
  • Change your 2% Money-Back Categories to suit your spending.
  • Extended warranty and purchase protection.
  • Rental car collision/loss damage insurance and mobile device insurance.
  • Mastercard Benefits: Mastercard® Airport Experiences Provided by LoungeKey, Boingo Wi-Fi for Mastercard®, and Mastercard® Travel Rewards.
  • Enjoy special benefits and offers from a growing lineup of on-demand apps and subscription services made available to you as a Tangerine World Mastercard cardholder.
  • Income Requirement: $60,000/year Individual.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No Fee Card For Dining

Simplii Financial Cash Back Visa
Simplii Financial Cash Back Visa

If you're looking to maximize your rewards on dining spend, look no further than the Simplii Financial Cash Back Visa.

This card earns 4% cash back on up to $5,000 in annual spend across restaurant, bar, and coffee shop purchases. The card also earns 1.5% cash back on up to $15,000 on eligible gas, grocery, and drugstore purchases and pre-authorized payments.

Benefits of the card include purchase security and extended protection insurance.

Simplii Financial™ Cash Back Visa Card
Simplii Financial™ Cash Back Visa Card
Intro Bonus
View Issuer's Website
Rewards Rate
4%
Earn 4% cash back on eligible restaurant, bar and coffee shop purchases, up to $5,000 per year.
1.5%
Earn 1.5% cash back on on eligible gas, groceries, drugstore purchases and pre-authorized payments, up to $15,000 per year.
0.5%
Earn 0.5% cash back on all other credit card purchases with no limit on how much you can earn.
Main Card Highlights
  • Dine at restaurants, fill your gas tank, buy groceries — there's no limit to the total cash back you can earn
  • Get all the benefits of the Simplii Financial Cash Back Visa Card with no annual fee.
  • Add up to 3 additional cardholders and earn cash back faster. Don't worry, you can set spending limits.
  • Add your credit card to your mobile wallet and pay with Apple Pay, Google Pay™ or Samsung Pay®.
  • Protection your purchases with Purchase Security and Extended Protection Insurance.
  • Minimum Income Requirements: $15,000 Household
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No Fee Card For Travel

MBNA Rewards Platinum Plus Mastercard
MBNA Rewards Platinum Plus Mastercard

The MBNA Rewards Platinum Plus Mastercard is at the top of the list for earning travel rewards at no annual fee.

The card earns 2X MBNA Rewards Points on restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually in the applicable category. You can also earn Birthday Bonus Points which are equal to 10% of the total points earned in the 12 months prior to your birthday.

MBNA Rewards Points can be redeemed for 1 cent each towards travel or at a lower value for other redemptions such as cash back or gift cards.

Other benefits of the card includes mobile device insurance, savings on car rentals with Avis and Budget, extended warranty benefits, and purchase assurance.

MBNA Rewards Platinum Plus® Mastercard®
MBNA Rewards Platinum Plus® Mastercard®
Intro Bonus
View Issuer's Website
Rewards Rate
2X
Earn 2X points for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually in the applicable category.
1X
Earn 1X points for every $1 spent on other eligible purchases.
Main Card Highlights
  • Each year, you will receive Birthday Bonus Points equal to 10% of the total number of Points the account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 10,000 Points
  • Redeem points for cash back, brand-name merchandise, gift cards from participating retailers, charitable donations, and travel.
  • No Annual Fee
  • Your MBNA Rewards Points never expire as long as your account is open and in good standing
  • The redemption value for travel is 100 points per $1, while cash and charity donations are 200 points per $1.
  • With Mobile Device Insurance, you’ve got up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown.
  • Extended Warranty Benefits and Purchase Assurance
  • Use your MBNA credit card to save a minimum of 10% off the base rates in Canada and the U.S., and a minimum of 5% off the base rates internationally, on qualifying car rentals at participating Avis and Budget locations.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No Fee Flat-Rate Card

SimplyCash™ Card from American Express
SimplyCash™ Card from American Express

If you're looking to earn rewards at a flat-rate across all purchases, the SimplyCash Card from American Express is the way to go.

It earns an unlimited 1.25% cash back on all purchases ran through the card. No need to worry about bonus categories and when to use the card to maximize your earnings.

If you plan on spending more than $1,100 a month across the card, the SimplyCash™ Preferred Card from American Express will be the better option as it will generate a higher return even with the annual fee factored in.

SimplyCash™ Card from American Express
SimplyCash™ Card from American Express
Intro Bonus
View Issuer's Website
Rewards Rate
1.25%
Earn an unlimited 1.25% cash back on all purchases ran through the Card.
Main Card Highlights
  • As an eligible Basic Cardmember, you could earn up to a maximum annual referral bonus of $750 cash back for approved referrals.
  • Enjoy exclusive ticket access, virtual events, live performances and more with American Express® Experiences.
  • Make everyday purchases more rewarding with offers that are tailored to you for dining, shopping, and more through the Amex App or Online Services with AMEX Offers.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No Fee Card For Grocery

BMO CashBack Mastercard
BMO CashBack Mastercard

The BMO CashBack Mastercard is the best no annual fee card when it comes to maximizing your return on grocery.

The card earns 3% back on up to $500 in grocery purchases per cycle, then 0.5% for the remainder of the billing cycle. It also earns 1% back on recurring bill payments which can earn you some cash back if you have streaming services, subscriptions or monthly utilities.

Cash back earned with the card can be redeemed at anytime you want for as little as $1 which is great considering lots of cards only offer rewards once per calendar year.

BMO CashBack® Mastercard®
BMO CashBack® Mastercard®
Intro Bonus
View Issuer's Website
Rewards Rate
3%
Earn 3% cash back on grocery purchases
1%
Earn 1% cash back on recurring bill payments such as streaming services, subscriptions or monthly utilities
0.5%
Earn 0.5% cash back on all other purchases
Main Card Highlights
  • Your cash back rewards never expire as long as your account is open and in good standing
  • No waiting! Redeem you cash back any time you want for as little as $1
  • Save up to 25% off rentals at participating National Car Rental and Alamo Rent a Car locations.
  • Get 15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No Fee & No FX Fee Card

Home Trust Preferred Visa Card
Home Trust Preferred Visa Card

The Home Trust Preferred Visa Card is a solid option if you're looking to avoid foreign transaction fees when shopping online or traveling abroad.

It earns 1% cash back on all purchases ran through the card which isn't a lot, but anytime you shop internationally you'll be saving 2.5% in foreign transaction fees. That makes this card easily worth picking up, even if you only use it for international spending.

Benefits of the card include purchase security and the ability to request a guaranteed hotel reservation.

Home Trust Preferred Visa Card
Home Trust Preferred Visa Card
Intro Bonus
View Issuer's Website
Rewards Rate
1%
Earn 1% cash back on all eligible purchases to get more out of your everyday spending
Main Card Highlights
  • Pay no exchange fees on foreign currency transactions — even when you shop online
  • The versatile benefits of the Home Trust Preferred Visa are all yours for no annual fee
  • Purchase Security insures eligible items against theft or damage for 90 days from the date of purchase
  • Request a guaranteed hotel reservation — your room will be held even if you arrive late
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
0%

Best No Fee Credit Cards Summary

Credit Card Annual Fee Best For Learn More
Tangerine Money-Back Credit Card $0 Best Overall No Fee Card Learn More
Simplii Financial Cash Back Visa $0 Best No Fee Card For Dining Learn More
MBNA Rewards Platinum Plus Mastercard $0 Best No Fee Card For Travel Learn More
SimplyCash™ Card from American Express $0 Best No Fee Flat-Rate Card Learn More
BMO CashBack Mastercard $0 Best No Fee Card For Grocery Learn More
Home Trust Preferred Visa Card $0 Best No Fee & No FX Fee Card Learn More

Best No Fee Credit Cards By Spend Calculator

The Best No Fee Credit Cards By Spend Calculator will give you an idea of which no annual fee credit cards will offer you the most rewards and best return based on your spend.

Results will be sorted by net return. This is calculated by taking the average value of the rewards earned adding the average value of card benefits and subtracting any annual fees the card has.

Results will consist of top-rated credit cards in the market that have no annual fee. Cards that only have a waived annual fee the first year are not included.

Add Categories
Search for categories and click 'Add Category' to add it to the calculator. If you want to be more specific, you can specify domestic or international spend.
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Category Spend

Enter your spend per month, year, or quarter for the listed categories. You can then click Get The Best Cards to get the list of results.
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Income Requirements

Some credit cards require certain income requirements to be met either based on your individual income or the income of the entire household. You can set a max income to limit which cards are listed in the result. Cards that require an income limit over the amount selected will not be included in the results.
Income Type
Income Maximum

Personal or Business Card

Choose the type of card you're looking for.
These are your standard consumer credit cards that you use for your personal, everyday purchases.
If you want to earn rewards on your business spend, business credit cards are the way to go.
If you don't have a preference, why not display both?

Spend Duration

You can set the duration of the spend for the categories listed above. If you're looking for the best card for only n-months worth of spend, this is where you change the option.

If you want to calculate based on a full year of spending, you can leave it set to a duration of '1 Year'.

Adjust Transferable Points

Some rewards programs allow you to transfer your earned points to airline, hotel, and other loyalty programs. These programs will generally have higher point values when doing such.

Since these matter so much when choosing a credit card, you can enter your own point value for these programs to include in the calculations.

When set to zero (0), they will calculate based on The Point Calculator's valuations. Any non-zero value you enter will be used in the calculations.

You can click on the to learn more about the value of the currency when applicable (opens in a new tab/window). Depending on the calculations, all programs listed below may not be featured in the results.

Results

Note: Results may take a few seconds to generate after doing a search. The results and values listed are estimates to help guide you towards making the best decision. They are for illustrative purposes only.
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