Best No Annual Fee Credit Cards in Canada for 2023

Premium credit cards aren’t the only ones offering consumers lots of attractive extras. There are a bunch of excellent no fee credit cards that you should consider adding to your wallet. If you’re looking for the best no fee credit card in Canada, check out our list.

I’ll be frank: I’ve never thought that Canada’s best no annual fee credit cards get the respect and attention they deserve.

They tend to be outshined by their premium counterparts. You know which cards I mean: those that, for the privilege of paying an annual fee of $120 (or more), give cardholders a big welcome bonus or perks like comprehensive insurance packages or airport lounge access.

I’m not saying that those costly cards aren’t worth the price (they often are). I just think that there’s a lot to be said for no annual fee credit card cards in Canada that deliver nice perks without the hefty price tag.

While the best no-fee credit cards haven’t got the bells and whistles of premium plastic, many pack an impressive punch underneath their no-frills exterior.

But what is the best no-fee credit card in Canada? The answer depends on what you’re looking for, but here’s a list of the best no-fee credit cards in Canada.

Best No Fee Credit Cards in Canada

Credit Card	Best For
Tangerine Money-Back Credit Card	Cash Back
BMO CashBack® Mastercard®*	Cash Back
SimplyCash® Card from American Express	Cash Back
*CIBC Dividend® Visa Card**	Cash Back
RBC Cash Back Mastercard	Cash Back
MBNA Rewards Platinum Plus® Mastercard®	Flexible Rewards
American Express® Green Card	Flexible Rewards
Home Trust Preferred Visa	No Foreign Transaction Fees
MBNA True Line® Mastercard® Credit Card	Low-Interest Rate
BMO® AIR MILES®† No-Fee Business® Mastercard®*	Business
BMO CashBack® Business Mastercard®*	Business

Best For Cash Back

Tangerine Money-Back Credit Card

Apply for a Tangerine Money-Back Credit Card by July 5th, 2023. If you're approved, you’ll earn an extra 10% back on up to $1,000 in everyday purchases made within your first 2 months.*

The Tangerine Money-Back Credit Card is one that I proudly have in my wallet. Few no-fee cards can compete with its outstanding cash back: Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases. Receive that third 2% category if you deposit the cash reward you accrue from your credit card into a Tangerine Savings account (not a tough requirement given what good rates and low/no fees Tangerine accounts offer compared to Canada’s five big banks).

This is an excellent offer, especially since the 2% cash back is not a promotional offer but rather the standard earn amount—such generosity is rare for a no-fee card.

Another bonus: Special 10% extra cash back rate on the first $1,000 spent with the card on everyday purchases (max. $100 cash back) in the first two months if you're approved, apply by July 5, 2023.*

What solidifies Tangerine’s place among the best no annual fee credit cards in Canada is that cardholders get to pick what two or three categories they want to earn 2%. You can pick popular purchases like gas or groceries or more niche ones like parking or home improvement stores.

No other card (be it basic or premium) offers such flexibility.

As another plus, there is no cap whatsoever on how much you can earn in cash back and you can even switch categories should your spending habits change.

The card is also full of additional perks like a low balance transfer interest rate of only 1.95% interest for the first 6 months (1%* transfer fee applies), as well as purchase assurance and extended warranty.

The Details:

Annual Fee: $0
Minimum Income Eligibility: $12,000
Credit Score Required: Fair;Good
Additional Benefits: Automatic, monthly reimbursement to your credit card balance or savings account; unlimited cash back
Other Card Info: Purchase APR: 19.95% | Cash Advance APR: 19.95%
Welcome offer: Special 10% extra cash back rate on the first $1,000 spent with the card on everyday purchases (max. $100 cash back) in the first two months if you're approved, apply by July 5, 2023.*

*Terms and conditions apply

BMO CashBack® Mastercard®*

Get 5% cash back in your first 3 months* and a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred*.

If your spending doesn’t really fall into a few set categories but you want a no-fee credit card with big money-back rewards, check out the no-fee BMO CashBack® Mastercard®*.

Now earn the highest cash back on groceries in Canada without paying an annual fee!†

After the Welcome Offer ends get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases.*

Another nice feature is that new cardholders can transfer balances from their other credit cards to the BMO CashBack® Mastercard®* and enjoy an introductory interest rate of a very attractive 0.99% for the first 9 months*. There is a 2%* fee for balance transfers, but that’s pretty standard.

Cardholders will also enjoy rental car benefits, purchase protection* and extended warranty*.

The Details:

Annual Fee: $0
Income Eligibility: Minimum $15,000 (individual)
Credit Score Required: Good
Welcome Offer: Get 5% cash back on purchases in your first 3 months*. Plus, 0.99% introductory interest rate on Balance Transfers for 9 months (with a 2%* transfer fee).
Additional Benefits: Car rental discounts*, purchase protection* and extended warranty*
Other Card Info: Purchase APR: 20.99% | Cash Advance APR: 22.99% (21.99% for Quebec residents)

*Terms and conditions apply.

†Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.

SimplyCash® Card from American Express

In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Terms and conditions apply.

The SimplyCash® Card from American Express is an excellent no annual fee cash rewards credit card for anyone who wants to earn cash back in a simple (but competitive) way. Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases.

Finally, when you book travel or make purchases with the SimplyCash® Card from American Express, your spending is protected by travel and shopping insurance coverage. You’ll be covered by travel accident insurance, buyer’s assurance, and purchase protection.

The Details:

Annual Fee: $0
Minimum Income Eligibility: None
Credit Score Required: Fair;Good
Welcome Bonus: In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Terms and conditions apply.
Additional Benefits: Travel insurance, purchase protection, Access events and special offers curated for Cardmembers with American Express® Experiences, refer a friend incentive
Other Card Info: Purchase APR: 20.99% | Cash Advance APR: 21.99%

CIBC Dividend® Visa* Card

Get 5% cash back for the first 4 statements on net purchases of up to $2,000 (up to $100 cash back)†

You can’t go wrong adding the CIBC Dividend® Visa* Card to your wallet. Not only does it have no annual fee, but you’ll earn cash back on purchases charged to the card. How it works: After the Welcome Offer ends, get 2% cash back on eligible grocery purchases and up to 1% on everyday purchases like books, movies, food and more; 1% cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†; and 0.5% cash back on all other purchases†. You can get your cash back on demand - redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†.

Additionally, the card offers a solid Welcome Offer: Get 5% cash back for the first 4 statements on net purchases of up to $2,000 (up to $100 cash back)† Plus, there’s no limit on the total cash back you can earn.† This card also comes with travel accident insurance and shopping coverage.†

The Details:

Annual Fee: $0
Purchase Annual Interest Rate: 20.99%†
Balance Transfer Annual Interest Rate: 22.99%† (21.99% QC only)
Cash Advance Annual Interest Rate: 22.99%† (21.99% QC only)
Minimum Income Eligibility: $15,000 household†
Credit Score Required: Good
Welcome offer: Get 5% cash back for the first 4 statements on net purchases of up to $2,000 (up to $100 cash back)†
Additional Benefits: Earn cash back on card purchases, includes travel insurance, includes shopping protection†

This is a digital-exclusive offer.† To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.†

†Conditions apply

Quebec Residents – Learn More about this CIBC product here.

Résidents du Québec – Pour en savoir plus sur ce produit CIBC, suivez ce lien.

The RBC Cash Back Mastercard

Earn 2% cash back on all your grocery store purchases² (up to $6,000/year) and receive 1% unlimited cash back on grocery spend over $6,000/year. All other card purchases will fetch you 0.5% cash back, up to $6,000 annually. After that, you’ll start racking up to 1% unlimited cash back on all your card purchases² in excess of $6,000 per an annual period.

If you think getting access to a decent cash back rate means you need to pay a premium, you’ll be pleasantly surprised to find out you’re mistaken. The RBC Cash Back Mastercard offers many opportunities to collect cash back. Earn 2% cash back on all your grocery store purchases² (up to $6,000/year) and receive 1% unlimited cash back on grocery spend over $6,000/year. All other card purchases will fetch you 0.5% cash back, up to $6,000 annually. After that, you’ll start racking up to 1% unlimited cash back on all your card purchases² in excess of $6,000 per an annual period.

On top of that, you’ll get an automatic saving of 3¢ per litre at Petro Canada and earn a 20% bonus in Petro Points when you link your card⁵. And don’t forget the 90-day purchase security and extended warranty protection (up to one year longer)³ that comes with your purchases when you use this cash rewards credit card.

The Details

Annual Fee: $0
Minimum Income Eligibility: N/A
Credit Score Required: Good
Rewards: Earn 2% cash back on all your grocery store purchases² (up to $6,000/year) and receive 1% unlimited cash back on grocery spend over $6,000/year. All other card purchases will fetch you 0.5% cash back, up to $6,000 annually. After that, you’ll start racking up to 1% unlimited cash back on all your card purchases² in excess of $6,000 per an annual period.
Additional Perks: Purchase security and extended warranty protection³, savings of 3¢ per litre on fuel at Petro Canada, and 20% more Petro Points when you link your RBC card⁵
Purchase APR: 20.99% | Cash Advance APR: 22.99% (21.99% if you reside in Quebec)

Refer to RBC Page for up to date offer terms and conditions.

Best Low-Interest Rate No Annual Fee Credit Cards

MBNA True Line® Mastercard® Credit Card

You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening. 3% Balance Transfer fee applies. Any balance transfers made after the promotional period will be subject to the standard 12.99% rate.

Another no-fee credit card offering an excellent interest rate is the MBNA True Line® Mastercard® Credit Card. The annual interest rate on purchases is 12.99% —which is attractive if you tend to carry a balance. As a special offer, you could get a 0% promotional annual interest rate (“AIR”)† for 12 months† on balance transfers completed within 90 days of account opening.* Adding this card to your wallet could save you oodles in interest charges. But watch out for the interest rate on cash advances – it’s a whopping 24.99%.

The Details

Annual Fee: $0
Minimum Income Eligibility: No Income Requirement.
Credit Score Required: Fair;Good
Welcome Offer: 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening.
Additional Perks: Low annual interest rate
Interest on Purchases: 12.99%| Interest on Cash Advances: 24.99% | Interest on Balance Transfers & Access Cheques: 12.99%✪

†, ✪, Terms and Conditions apply.

This offer is not available for residents of Quebec.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

Best For Flexible Rewards

MBNA Rewards Platinum Plus® Mastercard®

Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days (until $10,000 is spent annually in the applicable category). Plus, get up to 10,000 MBNA Rewards points as an introductory bonus: 5,000 bonus points†† ($25 in cash back value) after you make $500 or more in eligible purchases within the first 90 days of your account opening and 5,000 bonus points†† ($25 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening.

Thought platinum cards were only for consumers who were willing to pay an annual fee? No way. A plethora of rewards points is what makes the MBNA Rewards Platinum Plus® Mastercard® rank among the best no annual fee credit cards in Canada.

After the Welcome Bonus ends earn 2 points‡ for every $1 spent on eligible purchases on eligible restaurant, grocery, digital media, membership and household utility purchases – these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases. Those categories represent common expenditures for most Canadian consumers that often make up the lion’s share of monthly spending. Points can be redeemed for an array of items like cash-back, brand-name merchandise and more.

Right now, there’s an appealing welcome bonus for new cardholders. Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days and up to 10,000 bonus points††. Terms and conditions apply.

With no annual fee, there’s really no reason to not sign up!

The Details

Annual Fee: $0
Income Eligibility: N/A
Credit Score Required: Fair;Good
Welcome Bonus: Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days and up to 10,000 bonus points††. Terms and conditions apply.
Interest Rate on Purchases: 19.99% | Interest on Cash Advances: 24.99% | Interest on Balance Transfers & Access Cheques: 22.99%✪

‡, ††, ✪, ***, Terms and Conditions apply.

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

The American Express® Green Card

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. That’s $100 towards groceries or concert tickets. Terms and conditions apply.

Rack up the rewards on every credit card purchase with the American Express® Green Card. You may have already been collecting Membership Rewards® points, or you may be new to the program, but either way, the welcome offer means your tally grows by 10,000 Membership Rewards® points after you spend $1,000 on your card in the first three months. After the welcome period ends, you can continue to rack up rewards with the card’s standard earn rate. Earn 1 Membership Rewards® point for every $1 spent on eligible everyday purchases.

When it comes time to redeem you have a few options. You can redeem your points toward eligible everyday card purchases such as groceries and streaming services, plus travel and more. You can visit Membershiprewards.ca and redeem your points for gift cards and merchandise, or even use them towards eligible Amazon.ca purchases. And last, but not least, you can spend your points on new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program.

The Details:

Annual Fee: $0
Minimum Income Eligibility: N/A
Credit Score Required: N/A
Welcome Bonus: 10,000 Membership Rewards® points
Additional Perks: Exclusive entertainment access, earn reward points on every card purchase
Purchase APR: 20.99% | Cash Advance APR: 21.99%

Best No Foreign Transaction Fees with No Annual Fee Credit Cards

Home Trust Preferred Visa

Earn 1% cash back¹ on every eligible purchase you make with no cap on your annual cash back earnings.

For a good all-around no-fee card, check out the Home Trust Preferred Visa. It offers a suite of practical benefits and perks. If you are spending a lot on online purchases, you may be spending money in shops outside of Canada. This card will save you the 2.5% foreign exchange fee that so many cards charge on top of foreign currency purchases. For all card purchases made within Canada, you also get cash back rewards! Earn 1% cash back¹ on every eligible purchase you make with no cap on your annual cash back earnings. While it isn’t the most competitive earn rate, it’s the icing on the cake when you consider the other fees that you’re saving on. And it’s always nice to see some cash coming back to you as you spend. The purchase security and rental car coverage are fairly standard, but still a great benefit as well.

The Details

Annual Fee: $0
Income Eligibility: You will need to make at least $15,000 as annual income
Credit Score Required: Fair;Good
Welcome Bonus: N/A
Interest Rate on Purchases: 21.99% | Interest on Cash Advances: 21.99%

This credit card product is not available in Quebec.

¹ Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.

Best For Business

BMO® AIR MILES®† No-Fee Business® Mastercard®*

Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash!*

If you are looking for a great no annual fee business card that will allow you to collect AIR MILES, then take a look at the BMO® AIR MILES®† No-Fee Business® Mastercard®*. Earn 1 AIR MILES Reward Mile on every $20 you spend*. Plus, get 1.25X the Miles for every $20 you spend at participating Shell stations*. While the earn rate leaves a lot to be desired, it is one of the only $0 annual fee travel credit cards on the market that allows cardholders to collect AIR MILES. Plus, new cardholders can cash in with the current welcome offer: Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash!* Not too shabby!

The Details

Annual Fee: $0
Income Eligibility: N/A
Credit Score: N/A
Welcome Bonus: Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash!*
Purchase APR: 19.99% | Cash Advance APR: 22.99%

*Terms and conditions apply.

BMO CashBack® Business Mastercard®*

Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months (up to a maximum of $150 cash back)* and a 0.00% introductory interest rate on Balance Transfers for 9 months with a 3% transfer fee.*

The BMO CashBack® Business Mastercard®* allows you to cash back on business expenses without paying an annual fee. Get 1.5% cash back on eligible gas stations, office supplies purchases and on your cell phone and internet recurring payments*, 1.75% cash back at Shell®*, and 0.75% cash back on all other card purchases*

The welcome offer is also highly competitive: Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*. Plus, there’s a 0.00% introductory rate on Balance Transfers for 9 months with a 3% transfer fee*. Other benefits include optional employee cards protected by a Liability Waiver Program*, as well as purchase protection and extended warranties*.

The Details

Annual Fee: $0
Income Eligibility: N/A
Credit Score Required: N/A
Welcome Offer: Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*.
Additional Benefits: Cash back on all purchases, purchase protection and extended warranty*, incredibly flexible redemption options
Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99%

*Terms and conditions apply.

Comparing the Best No Fee Credit Cards in Canada

Credit Card	Welcome Offer	Stand Out Feature
Tangerine Money-Back Credit Card	Special 10% extra cash back rate on the first $1,000 spent with the card on everyday purchases (max. $100 cash back) in the first two months if you're approved, apply by July 5, 2023.*	Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
BMO CashBack® Mastercard®*	Get 5% cash back on purchases in your first 3 months. + 0.99% introductory interest rate on Balance Transfers for 9 months (with a 2% transfer fee).	After the Welcome Offer ends get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases.*
SimplyCash® Card from American Express	In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Terms and conditions apply.	Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases.
*CIBC Dividend® Visa Card**	Get 5% cash back for the first 4 statements on net purchases of up to $2,000 (up to $100 cash back)†	After the Welcome Offer ends, get 2% cash back on eligible grocery purchases and up to 1% on everyday purchases like books, movies, food and more; 1% cash back on eligible gas, EV charging, transportation, dining purchases and recurring payments†; and 0.5% cash back on all other purchases†.
RBC Cash Back Mastercard	None	Earn 2% cash back on all your grocery store purchases² (up to $6,000/year) and receive 1% unlimited cash back on grocery spend over $6,000/year. All other card purchases will fetch you 0.5% cash back, up to $6,000 annually. After that, you’ll start racking up to 1% unlimited cash back on all your card purchases² in excess of $6,000 per an annual period.
MBNA Rewards Platinum Plus® Mastercard®	Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days and up to 10,000 bonus points††. Terms and conditions apply.	After the Welcome Bonus ends earn 2 points‡ for every $1 spent on eligible purchases on eligible restaurant, grocery, digital media, membership and household utility purchases – these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases.
American Express® Green Card	Welcome Offer: 10,000 Bonus Membership Rewards® points	Earn 1 Membership Rewards® point for every $1 spent on eligible everyday purchases.
Home Trust Preferred Visa	None	Earn 1% cash back¹ on every eligible purchase you make with no cap on your annual cash back earnings.
MBNA True Line® Mastercard® Credit Card	0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening.	Low-interest rates: Purchase APR: 12.99% Balance Transfer APR: 12.99%✪
BMO® AIR MILES®† No-Fee Business® Mastercard®*	Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash!*	Earn 1 AIR MILES Reward Mile on every $20 you spend. Plus, get 1.25X the Miles for every $20 you spend at participating Shell stations.
BMO CashBack® Business Mastercard®*	Get 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for 3 months*.	Get 1.5% cash back on eligible gas stations, office supplies purchases and on your cell phone and internet recurring payments, 1.75% cash back at Shell®, and 0.75% cash back on all other card purchases*

† Conditions apply

This post was not sponsored. The views and opinions expressed in this review are purely my own.

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.

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.