Best No Annual Fee Credit Cards in Canada (December 2025)
No annual fee credit cards let you earn rewards without paying a yearly cost. While premium cards with fees often offer higher earn rates, the best no-fee cards provide solid value for light-to-moderate spenders who don't want recurring charges.
These cards are also excellent for building credit, as a secondary card for specific purchases, or for occasional use without worrying about justifying an annual fee.
How We Rank These Cards
We rank no-fee cards by calculating expected first-year value based on rewards earnings and welcome bonus offers. Since there's no fee to subtract, these cards show pure rewards value. We also consider flexibility, acceptance, and credit-building features.
Top Best No Annual Fee Credit Cards Ranked
Compare Cards
12 cards available
Simplii Financial Cash Back Visa Card
Rewards
0.5% cash back
Interest
20.99%
Annual Fee
$0
1st Year Value
$488
Welcome Bonus
Up to 8% cash back on restaurants/bars in first 3 months (up to $80)
Min. credit score: Fair to Good (620+)
BMO CashBack Student Mastercard
Rewards
0.5% cash back
Interest
21.99%
Annual Fee
$0
1st Year Value
$425
Welcome Bonus
Up to 5% cash back in first 3 months (up to $125)
Min. credit score: Fair to Good (620+)
BMO CashBack Mastercard
Rewards
0.5% cash back
Interest
21.99%
Annual Fee
$0
1st Year Value
$400
Welcome Bonus
Up to 5% cash back in first 3 months
Min. credit score: Good (660+)
Tangerine World Mastercard
Rewards
0.5% cash back
Interest
20.95%
Annual Fee
$0
1st Year Value
$240
Welcome Bonus
Extra 10% cash back in first 3 months (up to $120)
Min. credit score: Excellent (725+)
CIBC Aventura Visa Card for Students
Rewards
1 Aventura point per $1
Interest
20.99%
Annual Fee
$0
1st Year Value
$305
Welcome Bonus
Up to 12,500 Aventura Points ($125 value)
Min. credit score: Good (660+)
Wealthsimple Cash Card
Rewards
1% cash back (stock, crypto, or cash)
Interest
0%
Annual Fee
$0
1st Year Value
$240
Welcome Bonus
None currently listed
Min. credit score: No Credit Check
Tangerine Money-Back Credit Card
Rewards
0.5% cash back
Interest
20.95%
Annual Fee
$0
1st Year Value
$220
Welcome Bonus
Extra 10% cash back in first 2 months (up to $100)
Min. credit score: Fair to Good (600+)
Neo Credit Card
Rewards
0.5% cash back (guaranteed minimum)
Interest
24.99%
Annual Fee
$0
1st Year Value
$145
Welcome Bonus
Up to 15% cash back on first purchase with partners
Min. credit score: Fair (600+)
Neo Secured Credit Card
Rewards
0.5% cash back (guaranteed minimum)
Interest
19.99%
Annual Fee
$0
1st Year Value
$145
Welcome Bonus
Up to 15% cash back on first purchase with partners
Min. credit score: No Credit Check
Welcome Bonus
None currently listed
Min. credit score: No Credit Check
Tips for Choosing Best No Annual Fee Credit Cards
Pro Tips
Expert advice to maximize your card benefits
- 1No-fee cards are perfect as a second card for places that don't accept Amex
- 2Calculate if your spending justifies upgrading to a fee card
- 3Keep no-fee cards open to maintain credit history length
- 4Look for cards with no-FX-fees for international travel
Frequently Asked Questions About Best No Annual Fee Credit Cards
The Tangerine Money-Back Credit Card stands out with 2% cash back on up to 3 categories of your choice. For travel rewards, the Wealthsimple Cash Card offers 1% back with no foreign transaction fees. The Simplii Financial Cash Back Visa is excellent for dining (4% back at restaurants).