12 Best No-Fee Credit Cards in Canada for June 2025
Whether you’re trying to save money, pay down debt, earn rewards or build your credit, the best no-fee credit cards in Canada offer spectacular benefits — without the burden of an annual fee.
- + SHOW SUMMARY OF OUR SELECTIONS
Scotiabank American Express Card: Best overall no-fee credit card
BMO AIR MILES Mastercard: Our pick for Air Miles
CIBC Aeroplan Visa Card: Our pick for Aeroplan
Home Trust No Fee Preferred Visa Card: Our pick for no FX fees
BMO CashBack Mastercard: Our pick for grocery spending
Neo World Mastercard: Our pick for cashback
Simplii Financial Cash Back Visa Card: Our pick for restaurants and dining
Desjardins Flexi Visa: Our pick for Low interest rates
Tangerine World Mastercard: Our pick for flexible cash-back rewards OR BALANCE TRANSFERS
Scotiabank American Express Card (for students): Our pick for students
RBC ION Visa Credit Card: Our pick for newcomers
Wealthsimple Card: Our pick for prepaid
Why do you want a no-fee card?
Compare top cards by need. Choose your goal:
Methodology
BACK TO TOPBest No-Fee Credit Cards in Canada: Top picks for every goal
If you see yourself in any of these statements, you’re in the right place. You can skip the guesswork, because we’ve already done the hard part — these are the top picks for the real-life budgets and goals that make no-fee credit so popular.
"I just want to save money."
Cutting back on unneeded expenses. Juggling debt payments. The continual uptick in the cost of living. Whatever your reason for maintaining a mindful budget, we get it — but “no fee” doesn’t have to mean no perks.
Scotiabank American Express Card
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Consider if you want to earn Scene+ rewards alongside Amex premium perks.
The Scotiabank American Express Card packs some pretty respectable value. It earns up to 3x Scene+ points per $1 spent — roughly 3% cash-back, since Scene+ points are worth one cent apiece. Not bad for a free-to-carry credit card.
It also offers car rental discounts and mobile device protection — a form of insurance coverage that’s less common than you’d think. Plus, the card provides access to American Express Experiences, so this trade-off could be worthwhile for the right cardholder.
Now, caveat: American Express card acceptance can be spotty, but if your go-to shops take Amex, this card’s rewards and perks are hard to beat.
"I love to travel, but I'm on a budget."
A no-fee travel card may not have all the bells and whistles of, say, a $599 Visa Infinite Privilege Card or top-shelf Amex. But you’d be surprised by the travel perks on offer from cards with no annual fee.
BMO AIR MILES Mastercard
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Consider if you’re already collecting Air Miles — or want to start without the annual fee.
The BMO Air Miles Mastercard proves that stacking Air Miles on every eligible dollar spent doesn’t need to be complex or cumbersome. You’ll earn Air Miles no matter where you transact, but look forward to an extra boost when you spend at grocery stores, wholesale clubs, alcohol retailers and Air Miles partners, like Shell and Pharmasave.
This card can help you swipe your way closer to free airfare (or any other Air Mile redemption, for that matter), but the 7 cents off per litre on Shell? That’s the umbrella in your tropical drink — a fun bonus for an already-enticing travel card.
CIBC Aeroplan Card
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Consider if you're a budget traveller who wants Aeroplan perks — and access to over 50 flight partners.
You don’t have to be an Air Canada loyalist to enjoy all the CIBC Aeroplan Visa Card has to offer. As far as flight redemptions are concerned, Aeroplan’s lineup of 50+ flight partners helps. Plus: the Aeroplan program has a bevy of attractive redemption options besides airfare.
Beyond its rewards points, the CIBC Aeroplan Visa also comes with car rental insurance, a free 12-month Skip+ trial and fee-free international money transfers to over 120 countries. All told, a surprisingly well-equipped travel card for zero dollars a year.
Home Trust No Fee Preferred Visa Card
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Consider if you travel or shop in foreign currencies and want to skip the extra fees.
Foreign transaction fees — typically an extra 2% to 3% tacked on to all purchases made abroad — can eat into your available credit. For travellers on a budget, these added fees can be a real buzzkill. The solution? A travel card that waives foreign transaction fees.
Not only is the Home Trust No Fee Preferred Visa free to carry, but it won’t nickel and dime you on your every international transaction, even ones made online. Plus, you earn a straightforward 1% cash back on every dollar spent, helping you save on fees and putting cash back in your pocket.
"I want cash back on my everyday purchases."
If you’re going to spend the money, you might as well get a reward. And cash back — arguably the most versatile of card rewards — can be earned on just about anything, from a cart of groceries to a tank of gas.
BMO CashBack Mastercard
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Consider if you get sticker shock at checkout every time you need groceries.
If the cost of your weekly grocery store runs is gobbling up your budget, the BMO CashBack Mastercard can help soften the blow. You’ll get 3% back on what you spend on groceries, plus 1% on recurring bills and streaming subscriptions and a flat 0.5% on everything else.
Sure, these aren’t the highest cash-back rates on the market, but there’s no annual fee to recoup, which means every cent you earn puts you ahead.
Neo World Mastercard
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Consider if you bank with Neo — or don’t mind switching — and can keep a balance that boosts your rewards.
Neo calls this the best no annual fee card in Canada. And there may be something to that, as far as cash-back rewards are concerned. The Neo World Mastercard earns a respectable 2% back across the board for groceries, gas and recurring bill payments. And if you link this card with a Neo Everyday account and maintain an account balance of at least $10,000, those rates double to 4%. Toss in additional cash-back opportunities with Neo retail partners and a secured version of the card for those with low or no credit, and you’re looking at one of the most competitive no-fee cash-back cards around.
Simplii Financial Cash Back Visa Card
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Consider if your favourite place to splash cash is during a night out on the town.
Foodies, gourmands and cocktail connoisseurs, let me introduce you to the Simplii Financial Cash Back Visa Card. I’ve yet to find a no-fee card with higher rewards rates on dollars spent dining out, so rest assured — the 4% cash back on bars, restaurants and coffee shops is generous. You’ll also get 1.5% back on gas, groceries, drugstore spending and pre-authorized payments, plus a flat 0.5% on everything else. The free $50 PRESTO voucher is a nice bonus, too — but to earn it, you’ll need to spend $50 on transit with PRESTO within your first two months of card membership.
"I have credit card debt and need a break on fees and interest."
Chipping away at a balance month to month can be a bummer. Especially when you feel like you aren’t gaining any ground. No-fee cards with balance transfer offers and low ongoing interest rates can help you make headway against your debt.
Desjardins Flexi Visa
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Consider if you typically carry a card balance and want a no-frills card with low interest.
Interest charges make your debt more expensive and chew away at your available credit. So if you’re someone who carries a balance month to month, the Desjardins Flexi Visa’s 10.9% interest rate — nearly half that of the typical Canadian credit card — could be a game-changer. It comes with some neat ‘nice-to-have’ perks, too, like travel insurance and car rental discounts.
You won’t earn rewards, but for someone trying to keep their debt in check, the Desjardins Flexi Visa could be well worth the tradeoff.
Tangerine World Mastercard
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Consider if you have credit card debt and want a leg up on paying it down.
The Tangerine World Mastercard offers a 1.95% interest rate on balances transferred from another card for the first six months of card membership. After that, a 22.95% interest rate applies, but still — six months of rock-bottom interest charges can help you pay down your balance quicker and enjoy some added breathing room in your budget.
Enhanced 2% cash-back rates are available on a veritable smorgasbord of everyday spending categories, offering a choose-your-own-adventure opportunity among its cash-back categories. You can collect on two spending categories of your choice (three if you link a Tangerine savings account). Throw in rental car coverage and discounted airport lounge access, and you’ve got a brag-worthy budget-friendly card.
"I'm a student and have zero interest in extra fees."
Books, tuition, rent — being a student is expensive enough. Why add the financial burden of a credit card that costs you hundreds of dollars a year? Well, don’t sweat it. Most major Canadian banks offer credit cards specifically for students that won’t cost you a dime.
Scotiabank American Express Card (for students)
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Consider if you’re a post-secondary student on the hunt for your first credit card.
You’re not seeing double. The Scotiabank Amex makes its way into our best no-fee credit card lineup twice because it’s got a student edition of its entry-tier card.
The Scotiabank Amex Card for Students is almost indistinguishable from its standard issue counterpart — up to 3x Scene+ points, mobile device protection, car rental discounts of up to 25% — except it’s explicitly geared towards post-secondary students with little to no credit history.
Whether you want to earn points on essentials, build your credit history or have a cushion for financial emergencies in your back pocket, this student-friendly Scotiabank card should fit the bill.
"I'm new to Canada and want to build my credit history."
Starting fresh is an endeavour that often comes with a cascade of financial challenges. But you can build your Canadian credit history, even if money’s tight.
RBC ION Visa Credit Card
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Consider if you’re settling into life in Canada and want to build credit and earn rewards.
Many of Canada’s major banks offer credit cards for newcomers, so what makes the RBC ION special? The Avion points (RBC’s in-house rewards program) are a good place to start, which can be redeemed for an impressive selection of perks, spanning free flights to a zeroed-out credit card balance. But it’s the card extras that sell it for me: Petro-Canada discounts of up to 3 cents per litre of fuel, bonus Rexall Be Well points and a three-month complimentary DoorDash DashPass subscription. What’s not to love?
As for what makes this a newcomer-friendly card, you don’t need an established credit history to qualify — though this eligibility leniency is only available for those with RBC bank accounts. Not a particularly big deal, unless you have your heart set on banking with a different Canadian financial institution.
"My credit's not great — I just need a simple card."
The path to better credit is rarely linear. Even if you’ve had some missteps, you can still get a credit card. Prepaid and secured cards don’t require a credit check, so you’re guaranteed to qualify. You just need some cash to cover the deposit. Insurance coverage is limited to purchase security and extended warranty protection, though that’s fairly standard for no-fee cards.
Wealthsimple Card
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Consider if you’ve hit a roadblock with traditional credit and want a card that puts you in control.
If the name of the game is helping you save cash, the Wealthsimple Card has the market cornered. There are no annual fees, no monthly fees, no foreign exchange fees, no ATM fees and reimbursements of up to $5 a pop if you’re charged a fee by a domestic ATM provider. Plus, earn 1% cash back on eligible purchases — cash back that can be converted into stock or crypto, if that’s your thing. There’s no hard credit check involved, so you’re eligible as long as you have cash for the deposit. Like all prepaid cards, your deposit becomes your available credit, and you can reload the card as needed.
How to compare no-fee credit cards
Here are some other things to consider when comparing no-fee credit cards in Canada.
All credit cards — even no-fee cards — charge interest and those interest rates should factor into the card you choose. The no-fee cards on our list carry an average purchase interest rate of about 20%, which is pretty standard. Cards with lower rates in the 10%-12% range exist, though they often have fewer perks.
If you tend to carry a balance on your card, keep your eyes peeled for no-fee cards with lower interest rates — anything under 20% is a competitive rate in this category.
Introductory offers often come in the form of special cash-back offers or extra rewards points. They’re designed to help incentivize new card applications and could be a factor worth considering as you narrow down your no-fee credit card options.
The caveat to welcome bonuses? You typically don’t get the points or cash just for signing up. To nab the intro offer, you may have to spend a minimum amount within a certain time frame after opening the card, for example. The thing to note about welcome bonuses or intro offers is that they’re typically temporary, often ending after a few months.
When comparing no-fee card options, take a look at what type of rewards the card will earn even after the intro offer expires — more specifically, how they’re earned and ways they can be redeemed.
Whether you earn points from affiliated travel programs or cold hard cash back on eligible purchases, you’ll want a rewards program that will encourage you to make the most of your spending.
Perhaps even more important, however, is how points are earned. One card may offer triple the points on your weekly grocery bill, while another may let you double down on your travel miles each time you book a flight with a qualifying carrier.
Some no-fee credit cards come with insurance coverage, but not all. Insurance coverage offerings may include travel insurance, event ticket protection, extended warranty and purchase security protection and more.
Insurance coverage through your no-fee credit card may not be a strict necessity if you have coverage through an independent insurer or through your employer. But it can offer added protection and peace of mind, depending on the coverage available.
Frequently asked questions
How are no-fee credit cards different from debit cards?
How are no-fee credit cards different from debit cards?
Credit cards operate like short-term loans. You borrow money from your credit card issuer and those funds must eventually be paid back. With your debit card, you can only spend money from your bank account. Since you aren’t borrowing money with a debit card, you won’t be charged interest.
Is a no-fee credit card a free credit card?
Is a no-fee credit card a free credit card?
While no-fee credit cards don’t charge you an annual fee, there are often other associated costs, including:
Over limit fees.
Inactivity fees.
All of these additional fees should be clearly outlined in the terms and conditions that come with your card. As long as you use your no-fee credit card responsibly, it may be possible to avoid fees completely.
Do no-fee credit cards still earn rewards?
Do no-fee credit cards still earn rewards?
There are many no-fee credit cards that earn rewards. Common rewards categories include"
General rewards points, like Scene+, PC Optimum and more.
Travel rewards points, like Aeroplan points and Air Miles.
Cash back.
How do I apply for a no-fee credit card?
How do I apply for a no-fee credit card?
Before you apply for a no-fee credit card, review its eligibility criteria, including any applicable annual income requirements, to ensure you qualify.
To apply for a credit card, you can typically visit the provider’s website or mobile app to access its online application. Alternatively, if the card provider offers in-person facilities, you can visit a branch during business hours to complete an application.
Can you get a no-annual-fee credit card with bad credit?
Can you get a no-annual-fee credit card with bad credit?
If you have a low credit score, you may not be approved for a traditional no-fee credit card. That said, there are credit cards for people with low or no credit, including prepaid and secured cards.
What are the pros and cons of a no-fee credit card?
What are the pros and cons of a no-fee credit card?
Pros
Budget-friendly. No-fee credit cards are a budget-friendly alternative to cards that charge annual fees.
Earn rewards. A number of no-fee cards earn rewards, offering the opportunity to earn points or cash-back that can be redeemed for travel, merchandise and more.
Contributes to credit history. Since there’s no annual cost, it’s more feasible to keep a no-fee card account open, even if you decide to get a card with an annual fee at a later date. This contributes to the length of your credit history and may have a positive impact on your credit utilization ratio.
Emergency use. Without the burden of an annual fee, no-fee cards can serve as excellent backup or emergency-use credit cards.
Cons
Limited benefits. Generally speaking, the higher a card’s annual fee, the more luxurious its perks. Credit cards with no annual fee may still earn rewards and offer benefits, though they may be limited compared to cards that charge more to carry them.
High-interest debt. Like all credit cards, no-fee cards carry the potential for high-interest debt if the card’s balance isn’t paid before the statement’s due date.
When is an annual fee worth paying?
When is an annual fee worth paying?
Whether a credit card’s annual fee is worthwhile depends on your financial situation, lifestyle and spending habits. Generally speaking, the fee may be worth paying if the amount of value you can squeeze from the card’s benefits or insurance offerings offsets the cost of the fee.
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Georgia Rose