No fee
Best no annual fee credit cards in Canada
Becky · Founder, PointsMaxxing
Numbers checked October 9, 2026 · 5 min read
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A $0 card never has to earn its keep. That makes it the right starting point for most people, and a sensible second card for almost everyone. The trade-off is lower earn rates and fewer perks than a card that charges $120 or more a year. Here are the ones worth knowing, as of October 2026.
CIBC Dividend Visa
- Best for
- Groceries at stores that don't take Amex
- Earn rates
- 2% groceries; 1% gas, EV charging, transit, dining, recurring bills; 0.5% elsewhere
- Catch
- $15,000 household income minimum.
Tangerine Money-Back Mastercard
- Best for
- Choosing your own categories
- Earn rates
- 2% in 2 categories of your choice (3 with a Tangerine savings account); 0.5% elsewhere
- Catch
- 2.5% fee on foreign purchases. You can change categories every 90 days.
Scotiabank American Express
- Best for
- Scene+ collectors
- Earn rates
- 3 Scene+ points per $1 on groceries; 2 on dining, entertainment, gas, transit and streaming; 1 elsewhere
- Catch
- It's an Amex, so no Loblaw stores and no Costco.
American Express Green
- Best for
- Earning Membership Rewards for free
- Earn rates
- 1 Membership Rewards point per $1
- Catch
- The only $0 card that earns Amex points, which transfer to Aeroplan at 1:1.
Rogers Red World Elite Mastercard
- Best for
- Rogers, Fido or Shaw customers
- Earn rates
- 2% for Rogers customers (1.5% otherwise); 3% on US-dollar purchases
- Catch
- Income requirements apply to the World Elite tier.
CIBC Costco Mastercard
- Best for
- Costco members
- Earn rates
- 3% restaurants and Costco gas; 2% Costco.ca; 1% elsewhere
- Catch
- Members only. Paid once a year as a Costco certificate. See our Costco guide.
Home Trust Preferred Visa
- Best for
- Travel without a fee
- Earn rates
- 1% cash back in Canada; no foreign transaction fee
- Catch
- Not available in Quebec. $12 inactivity fee.
| Card | Best for | Earn rates | Catch |
|---|---|---|---|
| CIBC Dividend Visa | Groceries at stores that don't take Amex | 2% groceries; 1% gas, EV charging, transit, dining, recurring bills; 0.5% elsewhere | $15,000 household income minimum. |
| Tangerine Money-Back Mastercard | Choosing your own categories | 2% in 2 categories of your choice (3 with a Tangerine savings account); 0.5% elsewhere | 2.5% fee on foreign purchases. You can change categories every 90 days. |
| Scotiabank American Express | Scene+ collectors | 3 Scene+ points per $1 on groceries; 2 on dining, entertainment, gas, transit and streaming; 1 elsewhere | It's an Amex, so no Loblaw stores and no Costco. |
| American Express Green | Earning Membership Rewards for free | 1 Membership Rewards point per $1 | The only $0 card that earns Amex points, which transfer to Aeroplan at 1:1. |
| Rogers Red World Elite Mastercard | Rogers, Fido or Shaw customers | 2% for Rogers customers (1.5% otherwise); 3% on US-dollar purchases | Income requirements apply to the World Elite tier. |
| CIBC Costco Mastercard | Costco members | 3% restaurants and Costco gas; 2% Costco.ca; 1% elsewhere | Members only. Paid once a year as a Costco certificate. See our Costco guide. |
| Home Trust Preferred Visa | Travel without a fee | 1% cash back in Canada; no foreign transaction fee | Not available in Quebec. $12 inactivity fee. |
As of October 2026. Welcome offers change monthly and are left out on purpose.
How to choose
- Start with where you shop. An Amex card at a Loblaw store earns nothing. A Visa or Mastercard works almost everywhere.
- Then look at your biggest category. For most households it's groceries, then gas or transit, then restaurants.
- Pick the card with the best rate there. Ignore the base rate; it's 0.5% to 1% on all of these.
- Pair two if it helps. A Dividend Visa for groceries plus a Scotiabank Amex for restaurants is a common no-fee pair.
When a fee card is worth it
Simple math: the extra rewards have to beat the fee. Someone spending $800 a month on groceries and restaurants earns about $192 a year on a 2% no-fee card. On the Amex Cobalt at 5 points per dollar and roughly 2¢ a point, that same spending is worth about $960 a year, which clears the $191.88 fee many times over. At $200 a month, the fee card barely breaks even. Run your own numbers in the spending estimator.
Card terms, earn rates and fees change often. Check the issuer's site before you apply. This is general information, not financial advice.
Sources
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