A no-fee credit card costs nothing to keep, so every dollar of cash back or points is yours. The best one depends on where you spend: groceries, restaurants, Canadian Tire, Loblaw stores or trips abroad. We compared seven no-fee cards using each issuer’s own rates, checked in October 2026.
The shortlist at a glance
| # | Card | Best for | Main earn rate | Income needed |
|---|---|---|---|---|
| 1 | Tangerine Money-Back | Most people | 2% in 2 or 3 categories you pick | $12,000 |
| 2 | Simplii Cash Back Visa | Restaurants | 4% on dining (first $5,000 a year) | $15,000 household |
| 3 | CIBC Dividend Visa | Groceries | 2% on groceries, no cap | $15,000 household |
| 4 | American Express SimplyCash | Everything else | 1.25% on all other purchases | Not published |
| 5 | PC Financial World Elite | Loblaw and Shoppers | 3% at Loblaw stores, 4.5% at Shoppers (in points) | $80,000 / $150,000 household |
| 6 | Triangle World Elite | Canadian Tire | 4% at Canadian Tire (in CT Money) | $80,000 / $150,000 household |
| 7 | Home Trust Preferred Visa | Foreign currency | No foreign transaction fee, 1% in Canada | $15,000 |
What a no-fee card is (and isn’t)
- It is a card with a $0 annual fee. You can keep it open for years at no cost, which also helps your credit history.
- It is a good first card, a backup card, or a card for one category you spend a lot on.
- It isn’t free if you carry a balance. Interest on these cards is about 21% to 22% a year.
- It isn’t free abroad. Most charge a 2.5% foreign transaction fee on purchases in other currencies.
- It usually isn’t as rewarding as a card with a fee. Fee cards often earn more and include travel insurance, so they can be worth it if you spend enough. Our annual fee calculator shows when a fee pays for itself.
The 7 best no-fee credit cards
1. Tangerine Money-Back Credit Card: best overall
Why it’s here: You choose the categories where you earn 2%, and Tangerine doesn’t cap it. The income requirement is one of the lowest of any card here, and it includes mobile device insurance.
Watch out for: Everything outside your chosen categories earns only 0.5%. The foreign transaction fee is 2.5%.
Details: Tangerine Money-Back Credit Card (official page)
2. Simplii Financial Cash Back Visa: best for restaurants
Why it’s here: 4% on dining is the highest restaurant rate among the no-fee cards we checked. On $5,000 of restaurant spending a year, that’s $200 back.
Watch out for: The 4% stops after $5,000 a year. Everyday purchases earn just 0.5%.
Details: Simplii Financial Cash Back Visa (official page)
3. CIBC Dividend Visa: best for groceries
Why it’s here: 2% on groceries with no cap suits families with a big grocery bill. It also earns 1% on gas, dining and recurring bills.
Watch out for: Everything else earns 0.5%. Check CIBC’s page for the current interest rate, which we couldn’t confirm.
Details: CIBC Dividend Visa (official page)
4. American Express SimplyCash Card: best for everything else
Why it’s here: 1.25% on everything that isn’t gas or groceries is the best base rate on this list. If your spending is spread out, that adds up.
Watch out for: American Express isn’t accepted everywhere in Canada, so you’ll want a Visa or Mastercard as a backup. Our list of stores that accept Amex can help. We couldn’t confirm its interest rate or income requirement on Amex’s site.
Details: American Express SimplyCash Card (official page)
5. PC Financial World Elite Mastercard: best for Loblaw and Shoppers
Why it’s here: If you shop at Loblaws, No Frills, Real Canadian Superstore or Shoppers, it earns more than any card here at those stores, and it includes travel emergency medical insurance. Our PC Optimum points calculator shows what your points are worth.
Watch out for: Points are worth the most when you redeem them in store (10,000 points = $10). PC Financial says 10,000 points are worth $7 as a statement credit.
Details: PC Financial World Elite Mastercard (official page)
6. Triangle World Elite Mastercard: best for Canadian Tire
Why it’s here: 4% at Canadian Tire family stores plus 3% on groceries is a strong combination, and it includes roadside assistance. See our Triangle Mastercard vs World Elite comparison.
Watch out for: CT Money can only be spent at Triangle stores, not on gas or tires. If you don’t qualify, the regular Triangle Mastercard earns the same 4% at Canadian Tire.
Details: Triangle World Elite Mastercard (official page)
7. Home Trust Preferred Visa: best for foreign currency
Why it’s here: Most cards add 2.5% to purchases in other currencies. This one doesn’t, so on a $2,000 trip you’d save about $50 in fees. Our foreign transaction fee calculator works out your savings.
Watch out for: It earns nothing on foreign purchases, and only 1% at home. Most people use it as a travel card alongside another card.
Details: Home Trust Preferred Visa (official page)
Also worth knowing
- Rogers Red World Elite Mastercard: no annual fee, with higher cash back for Rogers customers. Rogers Bank is changing the card on November 18, 2026, so we’ll review it after the changes take effect.
- BMO CashBack Mastercard: 3% on groceries, but only on the first $500 spent each statement period, 1% on recurring bills and 0.5% on everything else.
- MBNA Rewards Platinum Plus Mastercard: 2 points per $1 on restaurants, groceries, digital media, memberships and household utilities (up to $10,000 per category a year). Points are worth 1¢ each on travel, or half that as cash.
- TD Cash Back Visa and Scotia Momentum No-Fee Visa: 1% on everyday categories with yearly caps, 0.5% on everything else. Lower rates than our picks.
- WestJet RBC Mastercard: no longer a no-fee card. RBC lists a $39 annual fee.
How we picked
We looked at no-fee cards from Canada’s major banks, card issuers and retailers, and checked every rate on the issuer’s own website in October 2026. We ranked them on the rate in each card’s strongest category, then on the base rate for everything else, the income requirement and included insurance. We left out welcome offers because they change often. No issuer paid to be on this list, and partners never decide what we recommend.
To compare cards using your own spending, try our cash back calculator.
Frequently asked questions
What is the best no-fee credit card in Canada?
For most people, the Tangerine Money-Back Credit Card: 2% cash back in 2 categories you choose (3 with a Tangerine Savings Account), 0.5% on everything else, no cap and a $12,000 income requirement.
Which no-fee credit card has the highest cash back?
In a single category, the Simplii Financial Cash Back Visa earns 4% on restaurants (first $5,000 a year), and the Triangle World Elite Mastercard earns 4% in CT Money at Canadian Tire. On everything else, the American Express SimplyCash Card earns 1.25%.
Is there a no-fee credit card with no foreign transaction fee?
Yes. The Home Trust Preferred Visa has no annual fee and no foreign transaction fee. It earns 1% cash back on purchases in Canada but nothing on foreign purchases.
Do no-fee credit cards have insurance?
Some do. The Tangerine Money-Back card includes mobile device insurance, and the PC Financial World Elite Mastercard includes travel emergency medical insurance for trips of up to 10 days.
Are no-fee credit cards worth it?
Yes, if you pay your balance in full each month. You keep all the rewards because there’s no fee. If you spend a lot, a card with a fee may earn more, so compare with our annual fee calculator.
Is the WestJet RBC Mastercard still no fee?
No. RBC lists a $39 annual fee for the WestJet RBC Mastercard.
Related reading
- All credit card reviews: reviews and best-card shortlists
- Best travel credit cards: eight picks for trips, compared
- Home Trust credit card review: no foreign transaction fee
- Brim credit card review: points on any purchase
- Rogers credit card review: 2% back for Rogers customers, no fee
- Is KOHO a credit card?: prepaid cards vs credit cards
- Simplii credit card review: 4% on restaurants, no fee
- Best credit cards for groceries: the shortlist
- Cash back calculator: compare cards with your spending
- Annual fee calculator: when a fee card pays for itself
- Rewards programs: what points are worth
- Cash back vs. travel points: which type of card fits you
- Best credit cards for dining: restaurants and food delivery
- CIBC Costco Mastercard review: 3% at restaurants and Costco gas, no fee
- Best rewards credit cards: including fee cards worth paying for
How we checked: Every fee, earn rate, cap, interest rate, income requirement and insurance benefit comes from the issuer’s own card page or disclosure, checked in October 2026. Where we couldn’t confirm something on the issuer’s site, we left it out and said so. Rates change, so check the issuer’s page before you apply. This list is for general information, not financial advice. Sources: Tangerine Money-Back Credit Card; Simplii Financial Cash Back Visa; CIBC Dividend Visa; American Express SimplyCash Card benefits; PC Financial World Elite Mastercard; Triangle World Elite Mastercard; Home Trust Preferred Visa. Last checked October 2026.
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