Best No Fee Credit Cards Canada - Calculate Rewards & Compare

October 2022
Check out our top picks for best no annual fee credit cards in Canada and calculate which cards will earn you the most rewards based on spend.
Last Updated 2022-01-26

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 For Cash Back
Annual Fee: $0
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.
Earn 15% Back
Earn an extra 15% back (up to $150) when you spend up to $1,000 in everyday purchases within your first 2 months.
Best For Dining
Simplii Financial™ Cash Back Visa Card
Simplii Financial™ Cash Back Visa Card
Annual Fee: $0
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.
Best For Travel Rewards
MBNA Rewards Platinum Plus® Mastercard®
MBNA Rewards Platinum Plus® Mastercard®
Annual Fee: $0
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.
Best For Flat-Rate Cash Back
SimplyCash™ Card from American Express
SimplyCash™ Card from American Express
Annual Fee: $0
Rewards Rate
1.25%
Earn an unlimited 1.25% cash back on all purchases
Best For Grocery
BMO CashBack® Mastercard®
BMO CashBack® Mastercard®
Annual Fee: $0
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
Best For No Foreign Transaction Fees
Home Trust Preferred Visa Card
Home Trust Preferred Visa Card
Annual Fee: $0
Rewards Rate
1%
Earn 1% cash back on all eligible purchases to get more out of your everyday spending

This page details our top picks for the best no annual fee credit cards in Canada. Use the Rewards Calculator to estimate which no annual fee 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 For Cash Back

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.

Best 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.

Best For Travel Rewards

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.

Best For Flat-Rate Cash Back

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.

Best 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.

Best For No Foreign Transaction Fees

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.

Best No Fee Credit Cards Summary

Best No Fee Credit Cards Canada
Credit Card Annual Fee Best For
Tangerine Money-Back Credit Card $0 Cash Back
Simplii Financial Cash Back Visa $0 Dining
MBNA Rewards Platinum Plus Mastercard $0 Travel Rewards
SimplyCash™ Card from American Express $0 Flat-Rate Cash Back
BMO CashBack Mastercard $0 Grocery
Home Trust Preferred Visa Card $0 No Foreign Transaction Fees

Best No Fee Credit Cards By Spend Calculator

Use the rewards calculator to find out which no annual fee credit cards will earn 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.

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These estimates are to help guide you towards making the best decision when it comes to picking up a rewards credit card. They should be used for illustrative purposes only.

All spend entered in the fields above will carry over to every credit card rewards calculator on the site so there's no need to re-enter spend.