Looking for a credit card that won't cost you anything in annual fees while still offering great rewards? This comprehensive guide explores the top no-fee credit cards available in Canada for February 2025, helping you maximize your benefits without paying annual fees.
What Are No-Fee Credit Cards?
No-fee credit cards are credit cards that don't charge an annual fee while still offering valuable benefits like cash back rewards, travel points, or purchase protection. These cards are perfect for budget-conscious Canadians who want to enjoy credit card perks without the extra cost.
Best No-Fee Credit Cards in Canada This Month (February 2025)
1. Scotiabank Red American Express® Card
The Scotiabank Red American Express® Card stands out with its impressive rewards rate and no annual fee structure. Cardholders can earn up to 3x Scene+ points on everyday purchases.
- Welcome Bonus: Up to 10,000 Scene+ points
- Rewards Rate: 1-3x Scene+ points
- Purchase Interest Rate: 19.99%
- Income Requirement: $12,000
2. Simplii Financial™ Cash Back Visa Card
The Simplii Financial™ Cash Back Visa Card offers one of the highest cash back rates for dining and groceries among no-fee cards, making it an excellent choice for foodies.
- Welcome Bonus: Up to 10% cash back for 4 months
- Cash Back Rate: 0.5%-10%
- Purchase Interest Rate: 20.99%
- Income Requirement: $15,000
3. BMO CashBack® Mastercard®
Perfect for everyday spenders, the BMO CashBack® Mastercard® offers reliable cash back rates on essential purchases with no annual fee.
- Welcome Bonus: 5% cash back for 3 months
- Cash Back Rate: 0.5%-3%
- Purchase Interest Rate: 21.99%
- Income Requirement: None specified
4. RBC ION Visa Credit Card
RBC's newest no-fee offering provides flexible rewards earning and modern digital banking features that appeal to tech-savvy consumers.
- Welcome Bonus: 2,500 points
- Rewards Rate: 1-1.5x Points
- Purchase Interest Rate: 20.99%
- Income Requirement: None specified
5. EQ Bank Card
A straightforward no-fee option that combines basic cash back rewards with EQ Bank's excellent digital banking experience.
- Cash Back Rate: 0.5% on all purchases
- No foreign transaction fees
- Purchase Interest Rate: N/A
- Income Requirement: None specified
6. Tangerine World Mastercard®
The Tangerine World Mastercard® stands out for its customizable cash back categories and comprehensive insurance coverage, all without an annual fee.
- Cash Back Rate: 0.5%-2%
- Choose 2-3 categories for enhanced cash back
- Purchase Interest Rate: 20.95%
- Income Requirement: $60,000 individual or $100,000 household
7. TD Rewards Visa Card
A solid entry-level rewards card that earns TD Points on every purchase, which can be redeemed for travel, merchandise, or statement credits.
- Welcome Bonus: 15,000 TD Points
- Earn 2 TD Points per $1 on grocery, restaurant and fast food purchases
- Purchase Interest Rate: 19.99%
- Income Requirement: None specified
8. Rogers Red World Elite® Mastercard®
An excellent choice for Rogers customers and those who make foreign currency purchases, offering enhanced cash back on Rogers/Fido products.
- Cash Back Rate: Up to 3% on Rogers/Fido products
- No foreign transaction fees on US dollar purchases
- Purchase Interest Rate: 20.99%
- Income Requirement: $80,000 individual or $150,000 household
Summary of the Best No-Fee Credit Cards in Canada This Month (February 2025)
| Card Name | Rewards Type | Welcome Bonus | Purchase Interest Rate |
|---|---|---|---|
| Scotiabank Red Amex | Scene+ Points | 10,000 points | 19.99% |
| Simplii Cash Back Visa | Cash Back | Up to 10% for 4 months | 20.99% |
| BMO CashBack Mastercard | Cash Back | 5% for 3 months | 21.99% |
| RBC ION Visa | RBC Rewards | 2,500 points | 20.99% |
| EQ Bank Card | Cash Back | None | N/A |
| Tangerine World Mastercard | Cash Back | None | 20.95% |
| TD Rewards Visa | TD Points | 15,000 points | 19.99% |
| Rogers Red World Elite | Cash Back | None | 20.99% |
Final Words
No-fee credit cards have evolved significantly, now offering competitive rewards and benefits without the burden of annual fees. Whether you're looking for cash back, travel rewards, or simple everyday perks, there's a no-fee card that can match your needs. Remember to compare offers and read the fine print before applying, and always use credit responsibly.
For more credit card options, check out our guides on best cash back credit cards and best overall credit cards in Canada.
