Top 5 No Annual Fee Credit Cards in Canada

Alyssa Furtado
by Alyssa Furtado March 29, 2016 / No Comments

It’s true that the top-earning rewards credit cards all come with annual fees. However, if you’re not a “big spender”, you can still earn rewards with a no fee credit card. Whether you want to earn cash back, free merchandise or travel rewards, the options are endless. We analyzed each card on our site, to bring you a list of the best no fee credit cards in Canada.

1. SimplyCash Card from American Express *Best Introductory Offer* [tied]

If you want a cash back credit card, look no further than the SimplyCash Card from American Express, which ranks third on our list of top 5 cash back credit cards in Canada of 2015. As one of the newest cards in Canada, it comes with the best introductory offer of all cash back credit cards:

SimplyCash Card from American Express

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  • Earn 5% cash back on gas, groceries and restaurants for the first 6 months (up to $250 cash back total)
  • Earn 1.25% cash back after, and on all other purchases throughout the introductory period
  • No limit to the amount of cash back you can earn, after the introductory period is over

1. Tangerine Money-Back Credit Card [tied]

Another top no fee cash back card is the Tangerine Money-Back Credit Card. While the SimplyCash offers the best introductory offer and a competitive cash back rate, the Tangerine card actually earns you more cash back rewards in subsequent years. So if you’re not a fan of churning, then this card is definitely the one for you!

Tangerine Money-Back Credit Card

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  • Earn 2% Money-Back Rewards on purchases in up to three 2% Money-Back categories of your choice, and 1% Money-Back Rewards on all other purchases
  • For a limited time, earn 4% Money-Back Rewards for the first three months in your chosen 2% Money-Back categories
  • No annual fee for yourself and additional cardholders
  • Accepted at Costco and all Loblaws stores

2. Scotiabank SCENE Visa

If you’re a movie lover, consider the Scotiabank SCENE Visa instead: 

Scotiabank SCENE Visa

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  • Get a sign-up bonus of 4,000 SCENE points (value = 4 free movie tickets)
  • Earn 1 SCENE point for every $1 spent on the card
  • Earn 5 SCENE points for every $1 spent at Cineplex Theatres

3. Best Western Rewards MasterCard

If you hate annual fees but still want a good travel card, the Best Western Rewards MasterCard is a great card that’ll get you some free hotel nights:

Best Western Rewards MasterCard

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  • Earn 20,000 Best Western Rewards points on your first purchase – enough for a free night stay
  • Earn 1 Best Western Rewards points for every $1 in eligible purchases
  • Earn 5 Best Western Rewards points for every $1 in eligible purchases at Best Western properties

4. American Express Blue Sky Credit Card

If earning hotel points isn’t your cup of tea, and you’d still prefer a travel rewards credit card, the American Express Blue Sky Credit Card may be more up your alley: 

American Express Blue Sky Credit Card

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  • Get a free bonus of 10,000 points after charging your first $500 to the card
  • Earn 1.25 Blue Sky Points for every $1 spent
  • 10,000 points = $100 credit towards travel purchases

5. Scotia GM Visa

Finally, if saving towards a vehicle is your goal, then the Scotia GM Visa will help you get that brand new car a little quicker:

Scotia GM Visa

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  • Earn 5% in GM Earnings on your first $5,000 annually
  • Earn 2% in GM Earnings thereafter

If you currently have a credit card with an annual fee, compare it to these cards and see which one you’d get the best value from. After you deduct your annual fee, you may find you’d actually earn more rewards with one of these no fee credit cards instead.

Happy credit card comparison shopping!

Flickr: smemon