Best No Annual Fee Credit Cards Canada

Top Picks + Rewards Calculator
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 2022-10-23 By R.Flowers III

Credit cards with no annual fee typically offer less rewards and benefits, but there are a handful of them that stand out. Review our top no annual fee credit cards for Canada and calculate which cards earn you the most rewards and best return on your spending.

Tangerine Money-Back Credit Card

Best For Unlimited 2% Money-Back
  • Earning Rate: Earn 2% Money-Back on up to two select categories of your choice and 0.5% on all other purchases. Choose a 3rd 2% Money-Back category if you deposit rewards into a Tangerine Savings account.
  • Main Highlights: Unlimited 2% Money-Back, rewards paid out monthly, and low income requirement.
  • Intro Bonus: Apply for a Tangerine Money-Back Credit Card by November 18, 2022. If you’re approved, you’ll earn an extra 15% back on up to $1,000 in everyday purchases made within your first 2 months.
  • Annual Fee: $0.
  • Summary: Being able to earn an uncapped 2% back on two select categories of your choice is the definition of flexibility. Overall, this is one of the best cash back cards in Canada.

Tangerine World Mastercard®

Best For Travel Benefits
  • Earning Rate: Earn 2% Money-Back on up to two select categories of your choice and 0.5% on all other purchases. Choose a 3rd 2% Money-Back category if you deposit rewards into a Tangerine Savings account.
  • Main Highlights: Airport lounge access, car rental collision/loss damage insurance, mobile device insurance, discounts, unlimited 2% Money-Back, and rewards paid out monthly.
  • Intro Bonus: Apply for a Tangerine World Mastercard® by November 18, 2022. If you’re approved, you’ll earn an extra 15% back on up to $1,000 in everyday purchases made within your first 2 months.
  • Annual Fee: $0.
  • Summary: You won't find many $0 annual fee cards that offer airport lounge access, travel insurance, and unlimited 2% Money-Back. If you want everything the Tangerine Money-Back Credit Card offers plus travel benefits at the same $0 cost, grab up this card instead.

Simplii Financial™ Cash Back Visa Card

Best For High Cash Back On Dining
Simplii Financial Cash Back Visa
  • Earning Rate: Earn 4% cash back on restaurant, bar, and coffee shop purchases (on up to $5,000 per year), 1.5% back on gas, grocery, drugstore, and pre-authorized payment purchases (on up to $15,000 per year), and 0.5% back on everything else.
  • Main Highlights: High earnings on restaurant/dining at no annual fee.
  • Annual Fee: $0.
  • Summary: If you dine out often, you can't beat the 4% return this card offers at no annual fee. It's a great card to have and the additional 1.5% cash back categories just makes it better.

MBNA Rewards Platinum Plus® Mastercard®

Best For Travel Rewards
MBNA Rewards Platinum Plus® Mastercard®
  • Earning Rate: Earn 2X MBNA Rewards points on restaurant, grocery, digital media, membership, and household utility purchases, on up to $10,000 in annual spend for each individual category. 1X on everything else.
  • Main Highlights: Earn up a 10% birthday bonus, up to 10K points per year
  • Annual Fee: $0
  • Summary: Points are worth 1 cent each when means you'll be sweeping in up to a 2% return on your spend plus a little extra on top with the birthday bonus. You'll also be able to enjoy mobile device insurance and shopping coverage.

American Express® Green Card

Best For Flexible Travel Rewards
American Express® Green Card
  • Earning Rate: Earn 1X Membership Rewards points on all purchases and an additional 1 point per $1 on hotels and car rentals through AMEX Travel Online.
  • Main Highlights: Shopping coverage.
  • Intro Bonus: As a new American Express® Green Cardmember, you can earn a Welcome Bonus of 10,000 Membership Rewards® points when you charge $1,000 in purchases to your Card in the first 3 months of Cardmembership.
  • Annual Fee: $0
  • Summary: Membership Rewards points can be transferred to a handful of airline and hotel partners for increased value including Air Canada, British Airways, Delta Airlines, and Marriott Bonvoy. So while you're only earning 1 point on all purchases, that 1 point is can be worth anywhere from 1.5 to 2 cents or more.

SimplyCash™ Card from American Express

Best For Flat-Rate Cash Back
SimplyCash™ Card from American Express
  • Earning Rate: Earn 2% cash back on gas station purchases in Canada, 2% back on grocery purchases in Canada (up to $300 cash back annually), and an unlimited 1.25% back on all other purchases.
  • Main Highlights: High cash back rates for a no annual fee card.
  • Annual Fee: $0.
  • Summary: High earnings on gas and grocery plus a wonderful 1.25% earning rate across all other purchases makes the SimplyCash Card one of the best no-annual fee flat-rate cash back credit cards in Canada. If you plan on spending more than $1,100 per month, don't cheat yourself out of cash back... grab up the SimplyCash Preferred Card instead.

Home Trust Preferred Visa Card

Best For No Foreign Transaction Fees
Home Trust Preferred Visa Card
  • Earning Rate: 1% cash back on all purchases.
  • Main Highlights: No foreign transaction fee and no annual fee.
  • Annual Fee: $0
  • Summary: If you want to earn cash back worldwide without being penalized, The Home Trust Preferred Visa is the best no annual fee option. You'll also be able to enjoy purchase security which can protect your purchases against theft and damage for 90 days from the date of purchase.

Best No Fee Credit Cards Summary

Best No Fee Credit Cards Canada
Credit Card Annual Fee Best For
Tangerine Money-Back Credit Card $0 Unlimited 2% Money-Back
Tangerine World Mastercard® $0 Travel Benefits
Simplii Financial Cash Back Visa $0 High Cash Back On Dining
MBNA Rewards Platinum Plus Mastercard $0 Travel Rewards
American Express® Green Card $0 Flexible Travel Rewards
SimplyCash™ Card from American Express $0 Flat-Rate Cash Back
Home Trust Preferred Visa Card $0 No Foreign Transaction Fees

No Annual Fee Credit Card Rewards Calculator

Input your monthly and yearly spend amounts to find out how which no-annual fee credit cards will earn you the most rewards and best return on your spending.

Loading Calculator...
If the calculator doesn't load after a few seconds, click here to re-load calculator.
Category Spending
Resets all fields in the Category Spending section for all columns. Also clears all saved spend values that carry from calculator to calculator.
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.
Type at least 3 characters.
Currently Selected:
Spend Region:
Income Requirement
Income Type
Select if you're looking for credit cards based on your own individual income or if you're looking for credit cards based on the income of the entire household.
Income Maximum
Select the maximum income requirement you want listed in your top picks.
Calculator Options

Find out which credit cards will offer you the most value based on the spend amounts you entered

No Results. This is usually due to:

  • There's no good card options based on the spend entered.
  • The calculator is having a brain-fart and is not calculating rewards properly.

Enter different values or try again later.

Results

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. You can click on the estimated earnings to see the calculations or click on the card to learn more.

Do note that all spend amounts entered into the tool above will carry over to every credit card rewards calculator on the site, so there's no need to re-enter spend if you choose to dive deeper into calculating rewards for credit cards on the site.

Calculate Total Rewards & Card Value Per $1 Spent For 100+ Canada Credit Cards
Search Results Display Here