No annual fee credit cards

Compare credit cards with no annual fee to find the best mix of rewards and benefits for your unique set of needs and budget.

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Claire Horwood

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Are you looking for a no fee credit card with plenty of benefits and a solid return on points? We’ve compiled a list of some of the best credit cards with no annual fee on the market. You can also use this post to find out more about how no fee credit cards work and why you might want to sign up for one.

What is a no annual fee credit card?

No annual fee credit cards (also known as fee-free credit cards) are credit cards with no annual fee. This means you won’t have to pay anything extra to use them. It also means that they typically come with fewer benefits and a lower return on points or cashback in comparison to more premium cards.

For example, credit cards with no annual fee come with basic benefits such as purchase protection and extended warranty. However, the majority won’t offer extra perks such as mobile device protection, travel insurance or roadside assistance. It’s also common for fee-free cards to give you a lower return on points than credit cards that come with an annual fee.

Compare no annual fee credit cards for 2026

5 of 12 results
Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score
Up to $100 in bonus cash back
Up to 2% cash back
21.99%
$0
In your first 3 months, earn a bonus 5% cash back on all purchases on top of your everyday cash back earn rates (up to $2,000 in purchases). That’s up to $100 in bonus cash back. T&Cs apply.
Min. recommended credit score: 700
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Up to 5% cash back
Up to 2% cash back
21.99%
$0
Get 5% extra cash back on your first $2,000 in spend for 6 months. Apply by February 2, 2027.. T&Cs apply.
Min. recommended credit score: 650
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Up to 25,000 bonus points
Up to 5 points per $2 spent
21.99%
$0
Get up to 25,000 welcome points and 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee. Apply by October 31, 2027. Plus, earn up to 5,000 bonus points every year. T&Cs apply.
Min. recommended credit score: 660
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Neo Mastercard image
Neo Mastercard
N/A
up to 15% boosted cashback at thousands of partners across Canada
19.99% - 29.99% (up to 24.99% in Quebec)
$0
Min. recommended credit score: 640
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RBC ION Visa image
RBC ION Visa
Up to 14,000 points
Up to 1.5X Avion points per $1 spent
20.99%
$0
Get up to 14,000 Avion points. That's up to $100 of value in gift cards. Apply by November 4, 2026. T&Cs apply.
Min. recommended credit score: 660
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How to compare no annual fee credit cards

There are a number of features you can compare to find the best no fee credit card for your personal situation.

  • Interest rates. Most credit cards with no annual fee come with an interest rate of 19.99% for purchases and 21.99% for cash advances. That said, some no fee cards may offer a lower interest rate in lieu of extra benefits or rewards. Aim to choose the card that makes the most sense for your personal situation.
  • Welcome offers. There are several no annual fee credit cards that come with a generous welcome bonus when you sign up. Look for a credit card that offers a decent return on long-term rewards and benefits, and then whittle down your choices by comparing welcome offers.
  • Balance transfer rate. This is the interest rate applied to balance transfers and is particularly relevant if you plan to consolidate existing debt onto your new credit card.
  • Return on rewards. The majority of no fee credit cards come with a mediocre return on rewards when compared to premium cards. That said, these rewards will go directly into your pocket instead of going towards paying an annual fee. Find a card that offers the best return on points or cashback in combination with a basic level of benefits.
  • Cash advances. Cash advances, which include but are not limited to ATM withdrawals and cash equivalent purchases, attract cash advance fees and high cash advance interest rates. You should avoid making cash advances on your credit card if possible since these incur high fees.
  • Foreign transaction fees. This is usually around 1-3% of the transaction value for overseas transactions, but note that internet purchases made in foreign currencies may also attract these fees. Travel credit cards, however, often don’t have foreign transaction fees.
  • Benefits. Most fee-free credit cards come with basic benefits such as purchase protection and extended warranty. If you find a fee-free card with additional benefits, it’s definitely worth exploring. This is because these cards typically don’t include extra perks such as travel insurance, roadside assistance or mobile device insurance.
  • Additional fees. It’s important to look into any additional fees you might have to pay with your card. For example, you could be charged a $2 fee to get a paper statement or a $40 fee for making a late payment. Make sure you know what you’re up against before you buy into the “no fee” promise of a fee-free credit card.
  • Provider. When comparing credit cards with no annual fee, you can choose from many providers. These include big banks, digital banks and private companies such as Costco or PC Financial. Look for a card with an establishment you trust and make sure the rewards are tailored to your lifestyle.

Can I get a premium credit card for no annual fee?

Most no-fee credit cards come with the bare minimum for benefits and rewards. You’ll typically need to pay an annual fee to get extended benefits or a high return on points or cashback. One of the only ways that you can get a premium credit card with no annual fee is to link it to your everyday bank account.

To go this route, you’ll usually need to keep a minimum balance in a high-end account. For example, you can qualify for an annual fee waiver for a TD premium credit card if you sign up for a TD All-Inclusive Banking Plan and keep a minimum balance of $5,000 in your account at all times. This can be a good solution if you want more benefits and rewards but don’t want to pay an annual fee for your credit card.

Credit cards that waive the annual fee in the first year

There is a wide range of credit cards that include a promotional annual fee waiver for new customers. This means that you pay a $0 annual fee for the first year, helping to reduce the initial costs of getting a new card. But since the annual fee usually kicks in again in the second year, it’s important to factor in the card’s other features when deciding if it will offer any value.

Opting for a credit card with promotional fee-free period can be a great way to lock in the benefits of a premium card without paying the hefty annual fee upfront.

Popular credit cards with no annual fee for the first year

Best for waived annual fee with…Promotional annual feeAnnual fee after promotionCredit card perks
Cash-back rewards:

Scotia Momentum Visa Infinite + Card

$0 in the first year$120Earn 4% cash back for every $1 spent on eligible grocery purchases & recurring payments, 2% per $1 spent on eligible gas, daily transit purchases & food delivery and 1% per $1 spent on everything else. Plus, get up to 7¢/L in value on fuel purchases at Shell stationsGo to siteRead review
Perks and flexible cash-back:

BMO CashBack World Elite Mastercard

$0 in the first year$139Earn 5% cash back on groceries (up to a maximum of $500 per statement cycle period—1% unlimited cash back thereafter), 4% on transit including ride sharing, taxis and public transportation (up to a maximum of $300 per statement cycle period—1% unlimited cash back thereafter), 3% on gas and electric vehicle charging (up to a maximum of $300 per statement cycle period—1% unlimited cash back thereafter), 2% on recurring bill payments (up to a maximum of $500 per statement cycle period—1% unlimited cash back thereafter) and 1% unlimited cash back on all eligible purchases.Go to siteRead review
A welcome bonus:

TD Cash Back Visa Infinite Card*

$0 in the first year$139Earn 3% cash back when you make eligible purchases of up to $15,000 per year on groceries, gas, EV charging, public transit, recurring bill payments, streaming, digital gaming and media purchases on your credit card. Earn 1% for eligible purchases above $15,000 and for all other spending.Read review

No annual fee credit cards by provider

You can sign up for a credit card with no annual fee with several providers. These include big banks, digital banks and private companies. It’s easy to compare the no-annual-fee credit cards on offer from different providers by expanding the links below:

What makes credit cards with no annual fee unique?

The obvious feature that makes no-annual-fee credit cards unique is that they come with no obligation to pay an annual fee for the duration of card ownership. This is different from certain premium cards that waive your annual fee in the first year. You also won’t have to keep a minimum balance in your bank account to qualify for fee-free status.

Another major selling point of fee-free cards is that they’re easy to qualify for. Unlike many premium cards, you typically won’t need to have a high income to sign up, and you can usually get your foot in the door with an average credit score. This makes these cards a decent option for low-income earners, students and those who are just starting to build their credit.

Who can qualify for a no-fee credit card?

Almost anyone can qualify for a no-fee credit card since the eligibility requirements are usually not very strict. That said you’ll want to make sure you meet the following criteria to apply:

  • Be 18 years old or the age of majority in your province or territory
  • Be a Canadian citizen or a permanent resident with a valid Canadian address
  • Have a working bank account (this is sometimes not a requirement – it varies between providers)
  • Have an average credit score and do not struggle with a bankruptcy or consumer proposal
  • Be willing to meet additional requirements put forth by your credit card provider

How to apply for a no-annual-fee credit card

You can follow these steps to apply for a no-annual-fee credit card:

  1. Compare no-fee credit cards. Compare credit cards with no annual fee from a number of providers to find the one with the best mix of rewards and benefits for your personal situation.
  2. Apply for the card of your choice. Apply for the credit card of your choice by visiting the main site of the provider you’re interested in.
  3. Fill out the application details. Fill out personal details such as your full name, address, email and phone number to start your application.
  4. Submit to a credit check. Submit to a personal credit check to get approved for a no-annual fee credit card (if this is a requirement for your provider).
  5. Review final details. Read the fine print of your contract and make sure you understand what you’re getting yourself into before you hand in your application.
  6. Click submit. Once you’re ready to apply, click submit on your application or call your credit card provider directly to apply over the phone.
  7. Wait for your card to arrive. When your application is approved, your provider should send your card out in the mail or allow you to pick it up at a branch location.

Benefits of no-fee credit cards

No-fee credit cards come with a number of benefits that make them an optimal choice if you’re looking for a basic credit card:

  • No out-of-pocket costs. You won’t have to worry about paying an annual fee.
  • Easy to qualify. There are usually no minimum income requirements, and you can apply with average credit.
  • Many cards to choose from. You can take advantage of a number of different types of cards such as cashback, low-interest, frequent flyer and rewards cards.

What to watch out for

There are also a couple of drawbacks to consider before you sign up for a no-fee credit card:

  • High-interest rates. You’ll usually pay interest rates around 19.99% for purchases.
  • Limited benefits. You won’t often qualify for extra benefits with these cards such as travel insurance, mobile device protection, or roadside assistance.
  • Lower return on rewards. You’ll usually receive a lower return on points than you would with a more premium card.

Paying rent or a mortgage with a credit card

Paying rent or a mortgage by cash or cheque has one big advantage. While you might have to walk it over to your building’s office or mail it, you won’t have to pay any big fees. Using a credit card to pay rent or a mortgage will cost you extra.

  • If you use a third-party payment service, you’ll likely be looking at credit card fees of 1% to 2.5%.
  • If your landlord directly accepts credit cards, banks typically charge them a 2% to 3% fee for each transaction – which they’ll likely pass on to you.

As an example, if your rent is $1,000 per month and you pay with a credit card, you could pay an additional fee of $10 to $30.

How to pay rent or mortgage with a credit card

Your first step is to double-check with your landlord or mortgage provider to determine if credit card payments are accepted directly. If not, you still have options.

To pay your rent or mortgage by credit card, you can use a third-party bill payment service. Below are three providers, their fees and the credit cards accepted, along with an explanation of their services.

ServiceCredit card feeCredit cards acceptedFee on $1,500 rent
Paytm0% to 3%Visa, Mastercard, Amex$0 to $45
Plastiq2.85%Visa, Mastercard, Amex$42.75
RentMoola0.99% to 3.99%Visa, Mastercard, Amex$14.85 to $59.85

How to pay your landlord through a rent pay service

While it can vary between services, you’ll usually need to:

  1. Sign up for an online account with the rent pay service of your choice
  2. Initiate a new payment
  3. Add your landlord’s name and address
  4. Add your payment info and submit your payment

Bottom line

No annual fee credit cards are relatively easy to qualify for, and they come with no yearly fee. Unlike premium credit cards, these cards tend to come with a low return on rewards and few benefits. That said, they can be a cheap and easy way to get access to credit if you don’t have the means or budget to qualify for a premium card.

No annual fee credit cards FAQs

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Claire Horwood was a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee. See full bio

Claire's expertise
Claire has written 240 Finder guides across topics including:
  • Banking
  • Personal Loans
  • Car Loans
  • Business Loans
  • Credit Cards
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