Best National Bank No Fee Credit Cards in Canada

If you need any help comparison shopping, read our frequently asked questions below:

What is a no fee credit card?

Most rewards credit cards require the cardholder to pay an annual fee, typically in the $99-120 range. No fee credit cards, however, have no annual fee. As a result, they also typically have fewer (if any) rewards. It’s as simple as that!

Why should I get a no fee credit card?

The benefit of a no fee credit card is obvious: there is no annual fee. It’s a great option if you don’t use credit cards often, but still want one to pay for online purchases, as well as to build your credit history in Canada. There’s no point paying money for something you’re not using or earning rewards from; no fee credit cards exist to serve that niche of credit card users.

What are the drawbacks of no fee credit cards?

While no fee credit cards can be a great choice for some people, they come with little to no rewards or free add-ons (such as insurance, etc.). If you plan on using your credit card for everyday purchases, you could see a greater benefit from using a rewards credit card that collects points with every purchase you make. It’s also important to remember that although you don’t have to pay an annual fee to use these cards, regular interest charges (typically at 19.99%) and other credit card fees still apply.

Do any Canadian no fee credit cards offer rewards?

As you’ll see in the chart above, yes, some of the best no fee credit cards offer rewards. However, the value of the points is typically much lower than regular rewards credit cards, so it may take you a while to earn anything – especially if you don’t use your card often.

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