By Julie Cazzin on September 21, 2017

Canada’s Best No-Fee Credit Cards 2017

By Julie Cazzin on September 21, 2017

These cards offer plenty of perks without an annual fee

Rewards No-Fee Cash-back Travel Rewards Student Rewards Boost your loyalty points

For our most up-to-date ranking of no-fee credit cards, go here.

Although not often as rich in rewards as the best credit cards that require you to pay an annual fee, the top three cards in this category offer a slew of rewards—everything from super low rates on balance transfers for six months to limitless cash-back and no restrictions on travel—all without having to ever dip into your pocket for an annual fee.

Winner: SimplyCash Card from American Express*

Highest no-fee cash back rate: This card has the highest no fee cash back rate in all of Canada, offering 5% cash-back for the first 6 months on gas, groceries and restaurants (up to a maximum of up to $250 back). After that, you’ll still get a decent 1.25% cash-back.

Cut your interest rate: With a 1.99% interest rate on balance transfers for 6 months, you’ll get a chance to really whittle down your debt. After that, you’ll earn 1.25%.

Great entertainment perks: access to Toronto lounges at Roy Thomson Hall and Princess of Wales Theatre, plus access to advance moving screenings and special shopping deals.

Click here to see everything the SimplyCash Card from American Express has to offer.*

Second place: Scotiabank American Express Card

2 points per dollar on the first $50,000 in purchases, 1 point per dollar thereafter (value of a point $0.01)
Redeem for travel anywhere, anytime, with no restrictions
Receive up to 25% off qualifying car rentals
Travel emergency medical coverage is automatically provided for eligible persons for up to 8 consecutive days

Third place: Tangerine Money-Back Credit Card*

2% cash back in 3 categories of your choice, and 0.5% everywhere else
No limits to how much cash back you can earn
Convenience and choice – you choose the 2-3 categories that you want to earn 2% in based on your spending habits
Money-back rewards are earned automatically and paid monthly

Click here to see everything the Tangerine Money-Back Credit Card has to offer.*

What can you expect in rewards in one year?

	Net reward (excluding 1^st year sign-up bonus
SimplyCash Card from American Express	$300
Scotiabank American Express Card	$375
Tangerine Money-Back Credit Card	$286

*Based on $2,000 of monthly spending

Honorary Mention: Blue Sky Credit Card*

$100 spending bonus
25% blue sky points for every $1 purchase
No blackout dates, advance purchase requirements, seat restrictions or travel restrictions (must redeem points for travel)

Click here to see everything the American Express Blue Sky Credit Card has to offer.*

More from Canada’s Best Credit Cards 2017:

Rewards No-Fee Cash-back Travel Rewards Student Rewards Boost your loyalty points

What does the * mean?

If a link has an asterisk (*) at the end of it, that means it's an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It's important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy.