Top Credit Cards in Canada with No Annual Fee

Credit cards are widely used in Canada, and they come in different shapes and sizes, each with its pros and cons. However, for many people, one of the significant factors they consider before applying for a credit card is whether or not it comes with an annual fee. Luckily, there are various credit cards in Canada with no annual fee, making it possible for users to save on credit card costs while still enjoying all the benefits that come with using a credit card. In this article, we’ll explore some of the best credit cards without an annual fee in Canada and what features make them stand out.

Top 10 Credit Cards in Canada with No Annual Fee

If you’re someone who is looking for credit cards with no annual fee in Canada, then you’ve come to the right place. There are several credit cards available in Canada that have no annual fee and offer exciting rewards and benefits. Here are the top 10 credit cards in Canada with no annual fee that you should consider:

1. Tangerine Money-Back Credit Card

One of the most preferred credit cards in Canada with no annual fee is Tangerine Money-Back Credit Card. This card offers 2% cashback on purchases in up to three categories of your choice and 0.5% cashback on all other purchases.

2. BMO CashBack Mastercard

The BMO CashBack Mastercard is a perfect card for people who love earning cashback effortlessly. With this card, you can earn 3% cashback on grocery purchases, 1% cashback on recurring bills, and 0.5% cashback on all other purchases.

3. RBC Cash Back Mastercard

The RBC Cash Back Mastercard offers 2% cashback on grocery purchases and 1% cashback on all other purchases, making it an excellent card for people who spend a lot on groceries.

4. CIBC Dividend Visa Card

The CIBC Dividend Visa Card is another great credit card that offers cashback. With this card, you can earn 2% cashback on gas and groceries and 1% cashback on all other purchases.

5. SimplyCash™ Card from American Express

The SimplyCash™ Card from American Express is perfect for people who love earning cashback on everyday purchases. This card offers 2.5% cashback on all purchases for the first three months and 1.25% cashback on all purchases afterwards.

6. TD Cash Back Visa Card

The TD Cash Back Visa Card is an excellent credit card for people who love earning cashback on all purchases. With this card, you can earn 1% cashback on all purchases.

7. PC Financial® Mastercard®

If you’re someone who shops a lot at Loblaws stores, then the PC Financial® Mastercard® is the perfect card for you. With this card, you can earn PC Optimum points on all purchases and redeem them for discounts on groceries.

8. MBNA Rewards Platinum Plus® Mastercard®

The MBNA Rewards Platinum Plus® Mastercard® is a great credit card for people who love earning rewards. With this card, you can earn 2 points on every $1 spent on gas, groceries, and restaurant purchases, and 1 point on every $1 spent on all other purchases.

9. Scotia Momentum® No-Fee Visa Card

The Scotia Momentum® No-Fee Visa Card is a good credit card for people who love earning cashback on everyday purchases. With this card, you can earn 1% cashback on gas, groceries, drugstore purchases, and recurring payments, and 0.5% on all other purchases.

10. Home Trust Preferred Visa

If you’re someone who travels a lot, then the Home Trust Preferred Visa is the perfect credit card for you. This card has no foreign transaction fees, making it a great option for people who shop online or travel outside Canada frequently.

Conclusion

These are the top 10 credit cards in Canada with no annual fee that you should consider. When choosing a credit card, always look for one that offers rewards and benefits that align with your spending habits and lifestyle.

Top 10 Credit Cards in Canada with No Annual Fee

Looking for a credit card in Canada that doesn’t charge an annual fee? You’re in luck because there are plenty of options available. In this article, we’ve rounded up the top 10 credit cards in Canada with no annual fee. Whether you’re looking for a card that offers cash back, travel rewards, or low interest rates, we’ve got you covered.

1. Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card offers 2% cash back on up to three spending categories of your choice, and 0.5% cash back on all other purchases. The card has no annual fee and no limit on the amount of cash back you can earn. Plus, if you apply before October 31st, 2021, you’ll get a $75 bonus.

2. SimplyCash Card from American Express

The SimplyCash Card from American Express offers 1.25% cash back on all purchases, with no limit on the amount of cash back you can earn. The card has no annual fee and includes travel insurance and purchase protection.

3. BMO CashBack Mastercard

The BMO CashBack Mastercard offers 5% cash back on all purchases for the first three months, up to a maximum of $100 cash back. You’ll also earn 3% cash back on groceries, 1% cash back on recurring bill payments, and 0.5% cash back on all other purchases. There’s no annual fee, and you’ll get a 1.99% introductory interest rate on balance transfers for 9 months.

4. PC Financial Mastercard

The PC Financial Mastercard offers 25 PC Optimum points per dollar spent at Shoppers Drug Mart, and 10 PC Optimum points per dollar spent on all other purchases. The card has no annual fee and includes purchase protection and extended warranty coverage.

5. MBNA Rewards Mastercard

The MBNA Rewards Mastercard offers 1 point per dollar spent on all purchases, which can be redeemed for cash back, travel, merchandise, or charitable donations. The card has no annual fee and includes purchase protection, price protection, and travel accident insurance.

6. Rogers World Elite Mastercard

The Rogers World Elite Mastercard offers 1.75% cash back on all purchases, with no limit on the amount of cash back you can earn. Plus, you’ll get a $25 welcome bonus and waived foreign transaction fees. The card has no annual fee for Rogers customers, and $29 for non-Rogers customers.

7. Triangle Mastercard from Canadian Tire

The Triangle Mastercard from Canadian Tire offers 4% back in Canadian Tire Money at Canadian Tire, Sport Chek, and participating Mark’s locations, and 1.5% back on all other purchases. There’s no annual fee, and the card also includes purchase protection and extended warranty coverage.

8. Tangerine World Mastercard

The Tangerine World Mastercard offers 2% cash back on up to three spending categories of your choice, and 0.5% cash back on all other purchases. The card has no annual fee and no limit on the amount of cash back you can earn. Plus, you’ll get a free subscription to Mastercard Airport Experiences provided by LoungeKey.

9. Scotiabank American Express Card

The Scotiabank American Express Card offers 1 reward point per dollar spent on all purchases, which can be redeemed for travel, merchandise, or gift cards. The card has no annual fee and includes travel insurance and purchase protection.

10. Simplii Financial Cash Back Visa Card

The Simplii Financial Cash Back Visa Card offers 4% cash back on eligible restaurant and bar purchases, 1.5% cash back on eligible gas, grocery, and drugstore purchases, and 0.5% cash back on all other purchases. The card has no annual fee and includes purchase protection and extended warranty coverage.

Credit Cards with No Annual Fees in Canada

Are you in search of a credit card in Canada that saves you the extra cost of annual fees? Well, you are in the right place. In this section, we will explore five credit cards with no annual fees. These include:

Rogers Platinum Mastercard

The Rogers Platinum Mastercard offers a cashback of 3% on all purchases made on foreign currency and 1.25% on everything else. Besides, it has zero annual fees and no foreign exchange fees, making it an ideal option for travel enthusiasts.

BMO Cashback Mastercard

Another option to consider is the BMO Cashback Mastercard. This credit card offers flexibility in redeeming your cashback by depositing the money into your bank account in increments of $50. It has no annual fees and offers cashback of 3% on groceries, 1% on recurring bills, and 0.5% on all other purchases.

Scotiabank American Express Credit Card

Are you looking for a credit card with exclusive rewards and no annual fees? The Scotiabank American Express Credit Card is an excellent choice. This card offers a rewards program that includes travel insurance, complimentary concierge services, and more. Plus, it has no annual fees, which is a great advantage.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card gives you the freedom to choose up to three categories where you can earn 2% cashback and 0.5% on all other purchases. You have the option to change categories every three months. This credit card has no annual fees and offers purchase assurance and extended warranty on eligible purchases.

No-Fee ScotiaGold Visa Card

If you’re a frequent traveler looking for a credit card that provides travel rewards and has no annual fees, the No-Fee ScotiaGold Visa Card is for you. This card offers travel rewards, including travel insurance, car rental insurance, and more. Additionally, it has no annual fee, making it an affordable option.

Credit Card Rewards Annual Fee
Rogers Platinum Mastercard Cashback of 3% on all purchases made on foreign currency and 1.25% on everything else No annual fee
BMO Cashback Mastercard Cashback of 3% on groceries, 1% on recurring bills, and 0.5% on all other purchases No annual fee
Scotiabank American Express Credit Card Rewards program that includes travel insurance, complimentary concierge services, and more No annual fee
Tangerine Money-Back Credit Card 2% cashback on up to three categories and 0.5% on all other purchases No annual fee
No-Fee ScotiaGold Visa Card Travel rewards, including travel insurance, car rental insurance, and more No annual fee

In conclusion, finding a credit card with no annual fees is a wise financial decision. The cards highlighted above offers various reward programs or benefits that cater to different lifestyles, from travel to groceries, etc. Consider choosing one of these credit cards to save extra cash.

There are plenty of options for those who want a credit card without an annual fee in Canada, as discussed in this article.

Pros of Credit Cards in Canada with No Annual Fee

Credit cards that come without an annual fee have become increasingly popular in Canada. With such cards, individuals do not have to pay for the privilege and convenience of having a credit card. Here are some of the advantages of using credit cards in Canada with no annual fee:

1. Lower Costs

One of the main benefits of using a no-annual-fee credit card is that it can help you save money. If you are an individual who pays off your credit card debt in full each month, you will not have to pay any interest fees. As such, owning a credit card with no annual fee can give you increased savings and lower costs.

2. Rewards Programs

Many credit cards that come without an annual fee offer cashback rewards programs. These rewards systems enable customers to earn cash when they spend money using their credit card. Rewards programs provide an excellent opportunity for those who make regular purchases, as they can earn rewards for things they were going to buy anyway.

3. Flexibility

When you use a credit card, you have the option to pay for purchases over time, making it an attractive option for those individuals looking for financial flexibility. Some no-annual-fee credit cards also offer a flexible payment plan that allows you to make payments over an extended period without accruing any interest charges.

4. Building Credit Score

Owning a no-annual-fee credit card in Canada also has an added advantage of helping to build an individual’s credit score. When you use your credit card and make timely payments, it shows a history of responsible borrowing, which may lead to higher credit scores.

5. Safety

Credit cards come with fraud protection, making it a safer option for making transactions compared to cash. In Canada, if you report fraudulent activity immediately, you will not be liable for any money stolen from your account.

6. Global Acceptance

Another benefit of using a credit card in Canada with no annual fee is that it can be used globally. This makes traveling easier, and you do not have to carry cash around with you in a foreign country, where it can be unsafe.

7. Convenience

Credit cards make it more convenient to pay for purchases online or in-store without carrying cash. They also offer the option of setting up automatic payments for bills and subscriptions.

8. Sign-up Bonuses

Some credit cards in Canada offer sign-up bonuses, giving cardholders access to a range of perks, such as gift cards or cashback rewards.

9. Customer Service

Credit card companies offer customer service support to help customers resolve any issues they may encounter, such as losing their card or detecting fraud.

10. Lower Debt Amounts

Using a credit card with no annual fee can also help you keep a smaller amount of credit card debt. This can help at the end of the month and may allow you to save money on interest charges.

Overall, credit cards in Canada with no annual fee offer numerous benefits ranging from lower costs, rewards programs, and flexibility to building credit scores and enhanced safety. However, they also come with some disadvantages that must be considered before choosing the card that best suits your needs.

Wrap it up!

And that’s a wrap on our discussion about credit cards in Canada with no annual fee! We hope you enjoyed reading this article and learned a thing or two. Now you can go ahead and choose the best credit card that suits your lifestyle and financial needs. Don’t forget to come back for more articles like this, and as always, thanks for reading!

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