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Canada's 8 Best No Annual Fee Credit Cards of November 2025
Published Sep 26, 2025 1:01 AM
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Lead WriterYou don’t need to pay a fee to get a great credit card. There are many no-annual-fee credit cards that offer decent rewards and benefits. Some of the best options are listed below.
Data-driven rankings of 120+ credit cards using a proprietary algorithm
Comprehensive analysis using 25+ data points including terms and conditions, points programs, and more
Objective editorial approach - we strive for unbiased reviews following our editorial guidelines
FinlyWealth's credit cards content, including rankings and recommendations, is overseen by a team of engineers and writers who specialize in credit cards, banking, and personal finance. Our work has been featured in The Globe and Mail, GoBankingRates, and AOL. Our proprietary analysis systems evaluate product features, terms, and conditions to deliver comprehensive reviews and comparisons while maintaining strict editorial standards for accuracy and integrity.
Rogers Red World Elite® Mastercard®: Best No Annual Fee Cashback Credit Card
MBNA True Line® Mastercard®: Balance Transfer
American Express® Green Card: Points and Rewards
Simplii Financial™ Cash Back Visa* Card: Dining and Restaurant
Neo World Mastercard® Secured: Secured Credit Card
Triangle World Elite Mastercard: Free Roadside Assistance
Tangerine Money-Back Mastercard: Flexible Credit Card
RBC RateAdvantage Visa: Low interest
Our choice for: Best No Annual Fee Cashback Credit Card
APPLY NOW
on Rogers Bank's website
Welcome Bonus
N/A
Annual Fee
$0
Interest Rates
20.99% - 25.99%* / 22.99% - 27.99%*
This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!
Pros
- Voted the Best No Annual Fee Cash Back Card in Canada by FinlyWealth.
- There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
- Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
- Offers the flexibility to redeem cash towards Rogers, Shaw, Comwave or Fido services, potentially increasing your rewards.
- The Roam Like Home benefit is a benefit unique only to this card through an eligible Rogers mobile plan.
- It is accepted at nearly all locations as it's a Mastercard.
Cons
- Harder to qualify due to the high credit score and income requirements.
- Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.
Rewards
- Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.^
- Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave or Shaw.^
- Otherwise earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.^
- Get 1.5 times more cash back every time you redeem for Rogers, Fido, Comwave or Shaw purchases.^
- 5 Roam Like Home days at no cost with an eligible Rogers mobile plan every year (up to $90 value).^
Insurance
Coverage
Emergency Medical Term
Up to 10 daysEmergency Medical (65+)
Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Trip Interruption
$1,000/person, $5,000 maximum.svg)
Car Rental Damage & Theft
31 days, $65,000 car MSRP
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days with eligible Rogers mobile plan
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
**, ^, Terms and conditions apply. Rogers Bank is not responsible for maintaining or controlling the accuracy of the information published on this website. For full and up-to-date product information, visit Rogersbank.com. Standard rate on Purchases and Fees: 20.99%. Standard rate on Cash Advances, Cash-like Transactions and Balance Transfers: 22.99%. If you are not approved for an Account at the above rates and you reside outside Quebec, we (Rogers Bank) may still issue you an Account at our alternate interest rates, as follows: Standard Rate for Purchases and Fees: 25.99%, Standard Rate for Cash Advances, Cash-like Transactions and Balance Transfers: 27.99%. ®/TM Mastercard and World Elite are registered trademarks and the circles design is a trademark of Mastercard International Incorporated. Used under license. TM Rogers and Mobius Design, Rogers Bank and related marks, logos and brand names are trademarks of Rogers Communications Inc., or an affiliate, used under license. © 2025 Rogers Bank. Rogers Bank is the issuer of this credit card. Check here for full details and current product information.
Our choice for: Balance Transfer
APPLY NOW
on MBNA's website
Welcome Bonus
0% rate on balance transfers for 12 months (3% fee applies). Not available for residents of Quebec.†
Rewards Rate
0%
Annual Fee
$0
Interest Rates
12.99%* / 24.99%*
Even though this card offers no benefits or rewards, the amount you can save on interest is substantial, making it an excellent option for reducing your monthly payments.
Pros
- Great to reduce monthly interest payments during the promotional period.
- Low purchase interest rate for people planning to put some balance on their credit card.
Cons
- A flat fee has to be paid on the balance to make the transfer happen.
- Not a good card other for purposes other than balance transfer.
Rewards
- No rewards earned on purchases.
- Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers✪, and 24.99% on cash advances.
- You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
- Use available credit on your credit card to transfer funds right to your chequing account.
- Around-the-clock fraud protection.
Benefits
Details
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Eligibility
Credit Score
GoodAnnual Income
N/A
*†, ✪, 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. Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 3.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group). Important Notice: Effective September 25, 2025: If the Balance Transfer fee is less than $3.50, we will charge a minimum Balance Transfer fee of $3.50. Check here for full details and current product information.
Our choice for: Points and Rewards
APPLY NOW
on American Express' website
Welcome Bonus
Up to 10,000 Membership Rewards® points
Annual Fee
$0
Interest Rates
21.99%* / 21.99%*
The American Express® Green Card is a great option for those looking for a no-frills card that earns rewards on all purchases without any annual fee or minimum income requirement. It's an accessible card with no cap on rewards, making it ideal for those who want to earn points without the higher costs and complexities of premium cards. However, it does come with lower rewards earnings across most categories and a modest welcome bonus.
Pros
- No Spending Limits: Earn unlimited rewards with no caps.
- Flexible Redemption: Transfer points to other loyalty programs for maximum value.
- VIP Perks: Access a variety of exclusive benefits through Amex Experiences™.
- Eco-Friendly: The card is made from 99% recycled plastic.
Cons
- Lower Reward Rates: Earn rates are lower compared to other no-fee cards.
- Limited Travel Perks: Lacks some of the travel benefits and insurance options provided by other cards.
Rewards
- 1x point per $1 spent on all purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Amex Experiences™
With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada
Extra points
2 points on Amex Travel Online purchases
Eligibility
Credit Score
FairAnnual Income
N/A
**Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
Our choice for: Dining and Restaurant
APPLY NOW
on Simplii Financial™'s website
Welcome Bonus
8% cash back† up to $1,000 in spending
Annual Fee
$0
Interest Rates
20.99%* / 22.99%*
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
Pros
- Highest cashback rate on restaurant purchases in Canada!
- Decent cashback rate on high spent categories such as groceries and gas.
- No annual fee for a card with great rewards.
Cons
- No insurance and benefits other than the standard purchase protection and extended warranty.
- Cap on the rewards that can be earned on each category.
Rewards
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback on all other purchases†
Insurance
Coverage
Purchase Protection
Up to 90 daysExtended Warranty
Up to 1 year
Eligibility
Credit Score
GoodAnnual Income
$15,000 household
*†Terms and conditions apply. Click ‘Apply Now’ for complete details. Banking services are not available in Quebec. *“Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time. Check here for full details and current product information.
Our choice for: Secured Credit Card
APPLY NOW
on Neo Financial's website
Welcome Bonus
N/A
Annual Fee
$96
$8 Paid Monthly
Interest Rates
19.99% - 29.99%□ / 22.99% - 31.99%□
Most secured cards give you very low to no rewards for using your card as you build your score over time. This card, however, offers balanced rewards for everyday purchases. This is a fantastic card to help build your score while you also get to earn solid cash back rates.
Pros
- Instant approval and access to virtual card
- Guided credit building tools with built-in credit score tracking
- Additional cash back earning at over 10,000 Neo partners
- No minimum credit score requirement
Cons
- Basic insurance coverage
- Cash back spend caps can limit your rewards
Rewards
- 2% cash back on grocery purchases up to $1,000 spending per month
- 2% cash back on gas purchases up to $1,000 spending per month
- 2% cash back on recurring purchases up to $500 spending per month
- 0.5% cash back on all other purchases up to $2,500 spending per month
- Up to 15% cash back at over 10,000 Neo Partners
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Eligibility
Credit Score
PoorAnnual Income
$50,000 personal or $80,000 household
Our choice for: Free Roadside Assistance
APPLY NOW
on Canadian Tire's website
Welcome Bonus
N/A
Annual Fee
$0
Interest Rates
21.99% / 22.99%
This card is the only one with no annual fee that provides a roadside assistance benefit, which can be a lifesaver for people who travel on the road a lot. The main reason to apply for this card is to have free access to this benefit, given that the rewards are not great in most categories (except for Canadian Tire and grocery purchases).
Pros
- The only credit card in Canada that offers the highly valuable benefit of roadside assistance!
Cons
- This card has a very low acceptance rate based on prior user applications.
It's not a great option to have as your primary credit card, either in terms of rewards or benefits. However, it's a good card to complement your other credit cards.
Rewards
- 4% back in CanadianTire dollars on almost everything at Canadian Tire, Sport Chek, Mark’s, L’Équipeur, Party City, Pro Hockey Life, Atmosphere, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores
- 3% back in CanadianTire dollars on Groceries (Max 360) Except Costco and Walmart
- 1% back in CanadianTire on all other purchases
Insurance
Coverage
Purchase Protection
Up to 90 daysCar Rental Damage & Theft
31 days
Benefits
Details
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Gas Discount
Save 7¢/L on premium fuel and 5¢/L on all other fuel types at Gas+ and Petro-Canada locations on gas.svg)
Concierge Services
Roadside Assistance
Roadside Assistance Gold Plan: With the Triangle World Elite Mastercard Roadside Assistance Gold Plan, you get towing distance of up to 250 km per service call to the destination of your choice (within Canada or the US)
Eligibility
Credit Score
ExcellentAnnual Income
$80,000 personal or $150,000 household
Our choice for: Flexible Credit Card
APPLY NOW
on Tangerine's website
Welcome Bonus
10% Cash Back (up to $100 value)†† + 1.95% balance transfer promo rate for 6 months†
Annual Fee
$0
Interest Rates
20.95%* / 22.95%*
While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.
Pros
- Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
- 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada.
- Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
- Easy credit score requirements needed for this card.
- Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.
Cons
- Insurance coverage is the most basic.
- Very low cashback rate on the other categories not selected.
Rewards
- 2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits.
- Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category.
- 0.5% cashback on all other credit card purchases.
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Up to a year
Eligibility
Credit Score
FairAnnual Income
N/A
*Tangerine is not responsible for maintaining accuracy of content on this site. Please refer to Tangerine's site for the latest product details. Check here for full details and current product information.
Our choice for: Low interest
APPLY NOW
on RBC's website
Welcome Bonus
N/A
Rewards Rate
No Rewards
Annual Fee
$0
Interest Rates
10.44% - 14.44% / 10.44% - 14.44%
A low-interest credit card in case you want to carry a balance every month.
Pros
- No Annual Fee
Cons
- No rewards
- No welcome bonus or promotional interest rate
- Interest changes with prime so you can't setup a fixed amount payment plan
Rewards
No rewards earned on purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Doubled Up to 1 year
Benefits
Details
Extra points
50 Be Well points for every $1 spent on eligible products at RexallGas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada and 20% more Avion points at Petro-Canada
Eligibility
Credit Score
Very GoodAnnual Income
N/A
How we picked these cards
Initially we limited the cards across Canada to the ones that come with no annual fee. The next step were to choose one card per use case given not everyone needs the same thing. Some might want to travel, some want to pay off their balance etc. In cases where a fee other than annual fee was involved like balance transfer or interest rate, the ones with the lowest fee took the best spot. For other categories, depending on spending patterns, the card that offered the highest overall rewards and perks was ranked highest.
From our editors: The full list of No Annual Fee Credit Cards in Canada For 2025
Best for cashback: Rogers Red World Elite Mastercard
The Rogers Red World Elite Mastercard shines for those who love earning cash back on everyday purchases, especially when spending in foreign currencies. Added benefits like Airport Lounge pass, no cost roaming, and multiple insurances make it a well-rounded card. Learn more in our Rogers Red World Elite Mastercard review.
Best for balance Transfer: MBNA True Line Mastercard
The MBNA True Line Mastercard is a smart choice for anyone looking to pay less interest with a balance transfer. It features a low introductory rate on transfers, allowing cardholders to save on interest while paying off higher-rate balances. With no annual fee and a simple structure, it’s built for people who want to get control of their finances without unnecessary complexity. Learn more in our MBNA True Line Mastercard review.
Best for points and rewards: American Express Green Card
The American Express Green Card is a go-to option for points collectors who want flexibility and value. It earns points on all purchases, and these points can be used toward a wide range of rewards like travel, merchandise, and gift cards. It’s a solid starting point for anyone interested in tapping into one of the most popular reward programs in the country. Learn more in our American Express Green Card review.
Best for dining and restaurant: Simplii Financial Cash Back Visa Card
For food lovers, the Simplii Financial Cash Back Visa Card delivers generous rewards on dining and restaurant purchases. Its simplicity and strong earning potential make it a favorite among young professionals and students that go out often. Learn more in our Simplii Financial Cash Back Visa Card review.
Best secured credit card: Neo World Mastercard Secured
The Neo World Mastercard Secured is designed for those building or rebuilding credit. It offers guaranteed approval with a low security deposit and provides modern digital features alongside cash back on purchases. This card helps users improve their credit profile while still enjoying the benefits of a traditional credit card, all without the need for a strong credit history. Learn more in our Neo World Mastercard Secured review.
Best for free roadside assistance: Triangle World Elite Mastercard
The Triangle World Elite Mastercard stands out for including complimentary roadside assistance, a rare perk for a no-fee card. It's a strong fit for drivers who want peace of mind on the road while earning rewards on categories like gas and everyday purchases. Learn more in our Triangle World Elite Mastercard review.
Best for flexiblity: Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card gives users the freedom to choose their own reward categories, offering unmatched customization. It’s ideal for those whose spending habits don’t fit neatly into preset categories. Whether your biggest expenses are groceries, gas, or recurring bills, you can tailor the rewards to suit your lifestyle. Learn more in our Tangerine Money-Back Credit Card review.
Best for low interest: RBC RateAdvantage Visa
The RBC RateAdvantage Visa is designed for those who carry a balance and want to minimize interest charges. It offers a low variable interest rate based on credit rating, making it a reliable tool for managing purchases without accumulating high costs. Its straightforward structure and no-fee setup make it a very attractive card. Learn more in our RBC RateAdvantage Visa review.
Is a no-annual-fee credit card the right card for you?
A no-annual fee credit card is right for you if you'd like to dodge yearly costs or if you don't plan on using any premium perks that make the annual fee worthwhile. There are also some no-fee options that are designed for those who are new to credit. Essentially, no-fee cards are ideal for casual users, newcomers to Canada, students, and budget-conscious spenders.
Learn more: Best Newcomer Credit Cards, Best Student Credit Cards
To find the perfect no-fee fit for you, enter your spending habits into the filters on our credit card compare tool and select the "no fees" toggle. From there, you'll be presented with personalized top picks!
Pros and Cons of a No Annual Fee Credit card
Let's breakdown the pros and cons of a no-fee credit card:
Pros | Cons |
|---|---|
No fixed yearly cost (budget-conscious) | Often include fewer premium perks |
Often easier for beginners, newcomers, students, and those looking to build credit to manage and qualify for | Sometimes the total value of the rewards and benefits is lower compared to premium cards |
There are still plenty of options with impressive value | Limited insurance coverage in most cases, especially when it comes to travel coverage |
Great supplementary cards for diversifying reward categories and building your credit history (without accumulating yearly costs) | High spenders may earn more overall with a premium card, since higher rewards can outweigh the annual fee |
Differences between a debit card and a no Fee credit card
The main difference between a debit card and a no-fee credit card is that debit cards pull money from your bank account, whereas no-fee credit cards borrow money from your lender up to your credit limit.
There are several other distinctions too. For instance, a no-fee credit card will help you build your credit history, while a debit card will not. That said, debit cards minimize the risk of accumulating debt, since you're only spending money you already have. No-fee credit cards may also offer a few extra protections, especially when it comes to purchases (think only the basic purchase protection and extended warranty insurance). Many no-fee credit cards also earn you rewards. Earning rewards with a debit card is uncommon in Canada.
Ultimately, debit cards are best for simple and controlled spending, but no-fee credit cards are great for optimizing your spending, building credit for future financial opportunities, and pocketing extra protections, just make sure you pay your balance in full and on time!
Frequently Asked Questions
Yes, many no-annual-fee credit cards come with rewards categories. Whether that be specialized categories (like gas, groceries or recurring payments) or a flat rate covering all eligible expenses. There are, however, some no-fee contenders that lack rewards programs, usually those that prioritize low-interest or balance transfers.
Yes, it's possible to get a no-annual-fee card with bad credit, but this may narrow your options. If you're having trouble getting approved for a no-fee credit card due to poor credit, try one of the best secured credit cards instead or opt for a no-fee credit-building card.
You should consider switching from a card with an annual fee to a card with no annual fee if you realize you're not extracting enough value out of your current card to make the annual fee worthwhile. For example, if you're not earning enough rewards or using all the benefits included on the card to offset the yearly cost, it might be time to swap your paid card for a budget-friendly alternative.
About the author
Kevin Shahnazari
Credit Card Expert
Kevin started FinlyWealth and juggles a bit of everything—digging into data, running our marketing, and keeping the finances on track. Before this, he spent years as a data scientist at tech companies...
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Abid Salahi
Credit Card Expert
Abid leads the design and engineering of the FinlyWealth website, making sure everything runs smoothly and looks great. He’s a seasoned software engineer who follows best practices and designs interfa...
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Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
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