Hi all! I am looking for the best no annual-fee credit card for use as a 2nd card with low spend (approx $100 per month). This is mainly an in case of emergency card as I use my 1st card for most purchases. Currently, I have a WestJet Mastercard but I don’t use it enough to reap any of the benefits or justify the annual fee.

If it matters, my 1st card is an RBC Avion.

Thanks in advance!

Hi I am currently using CIBC credit card. they give me 2% on the groceries and 1% on gas (all selective).

I just want to know which is the best to go for which would provide me more cash back (without being selective vendors)
I heard wealthsimple but I dont know if it is a safe option considering the credit card provided by the main Banks
I also heard RBC, could you please guide me guys

Thank you in advance

Hello PFC!

So I'm in the market for a new credit card since Wealthsimple removed the 1% cashback from their prepaid MasterCard, my current daily driver. Would y'all be able to recommend a good alternative for me based on my situation? I'm a bit overwhelmed by the available options

Facts:

• I prefer to have one "daily driver" card for everything and at most one other card for recurring payments, for ease of reconciliations (I'm willing to forgo "cardmaxxing" for this)

• I would prefer a no-fee card but if the benefits vastly outweigh the costs, I might be open to it. I'd probably spend something like $500(?) a month, maybe?

• With my credit union: currently have an empty CHQ/SAV and an MC which I use for subscriptions/recurring bills. MC is no-fee with 1% cashback on grocery, gas + sustainable transit, select recurring bills + digital streaming purchases and 0.5% cashback on everything else

• With Simplii Financial: currently have an empty CHQ/SAV, have not yet applied for their Visa CC

• Projected income will likely be somewhere between $55,000-$65,000/year starting January

• Mobile phones are currently on Koodo but not tied to it (if the Rogers MC is a good option). I also currently have our "home" cell phone under Rogers in my name so I'm already considered a Rogers customer.

• I don't plan to own a car for the next few years ideally (although I know how to drive), so unsure how useful the Triangle Rewards MC will be

• I do plan to get a Costco membership shared with my brother when we move out later this year, so their MC could be an option although idk how we'll allocate points

• Too poor to travel for now (╥﹏╥)

Thank you for your help! :)

Hello all, I am turning 18 soon and looking for my first credit card. As a canadian student and RBC customer I am debating between: AMEX Green Card CIBC Aeroplan Visa Card RBC ION+ (with 0$ annual fee since I have student package) I spend around 200$/month on gas, 200$/month on dining out, 100$/month recurring payments and around an other 500$/month in other expenses. I plan on getting them all and spacing out applications in a year. In which order should I get these credit cards? Thank you! :)

Tl;dr

HippityHoppityBoop’s Ultimate No-Annual-Fee Credit Card Stack

Here’s a list of no annual fee credit cards that should get you the highest yield available for each category (unless you’re a Rogers/Fido customer):

1. Simplii Visa: Restaurants

2. Triangle World Elite MasterCard: Groceries, Bill Payments, Gas at Canadian Tire or Petro Canada

3. Amex SimplyCash: Gas (assuming Triangle doesn’t cut it for you)

4. Desjardins Bonus Visa: Transit, Entertainment, Pre-authorized Payments

5. Tangerine MasterCard: Parking/Furniture/Hotels/Drugstores/Home Improvement (switch categories as needed)

6. Rogers World Elite MasterCard: Travel, Amazon, Walmart, Costco, everything else

7. Home Trust Preferred Visa: Foreign Currency Transactions

Caveat for Rogers/Fido customers:

• For all categories, if you are a Rogers/Fido/Chatr/Shaw customer, you can assume a base earning of 3% for all categories since redemption of the cash back from either of the Rogers MasterCard against your Rogers/Fido bill gives a 1.5x bonus, yielding you 3%. I didn’t include that below to avoid repetition.

• You just need to add a Simplii Visa for 4% cash back on restaurant purchases, and you’re done, just 2 cards, unless you want special features like bill payments, no foreign transaction fees, etc.

• If you qualify, go for the Rogers World Elite MasterCard as that will give you extended warranty, ability to buy a phone on an interest-free 48 month payment plan, basic travel insurance, net you 0.5% cash back on USD purchases, etc.

I have put together a list of spending categories along with a corresponding no annual fee credit card that has the highest yield for the category. I hope this list helps you find the right long term hold credit card for your spending patterns.

This is an ongoing list so please feel free to correct me over time as credit cards evolve and I shall update the list from time to time.

Hopefully this will help people establish a baseline for how much they can earn for each spending category for free and then analyze paid credit card offers based on whether the annual fee is justified by the incremental yield they’d get with the paid credit card.

Restaurants

• Simplii Visa: 4%

Groceries

• BMO Cash Back MasterCard: 3% for first $500/month

• Triangle World Elite MasterCard: 3% in Canadian Tire Money (CTM)

Gas

• Amex SimplyCash/Tangerine MasterCard: 2%

• Collabria credit cards available at most credit unions: 2%

• Triangle World Elite MasterCard: ~2.5-5% (depending on gas prices) in Canadian Tire Money. You get back 5c/litre for regular gas at Petro Canada (if you link your Petro-Points card you also get 12 Petro-Points per litre so about 1.2c/L) and Canadian Tire (plus 7c/litre for premium gas here).

Transit/Entertainment/Recurring Bills

• Desjardins Bonus Visa: 2%

• Tangerine MasterCard: 2%

Parking/Furniture/Hotels/Drugstores

• Tangerine MasterCard: 2%

Home Improvement

• Tangerine MasterCard: 2%

• All Triangle MasterCard: 4% in Canadian Tire Money (CTM) on pretax amounts at Canadian Tire. So about 3.5% after tax depending on province.

Bill Payments (like property tax, utilities, university fees)

• Triangle World Elite MasterCard: 1% in Canadian Tire Money

Amazon

• Rogers World Elite MasterCard: 1.5%

• MBNA Amazon.ca Rewards MasterCard: 1.5% for non-Prime customers/2.5% for Prime

Foreign currency transactions

• Home Trust Preferred Visa: 1%

Travel/All other Canadian spending

• Rogers World Elite MasterCard: 1.5% + free travel insurance coverages

As of: March 2024

Commentary:

• The Tangerine MasterCard is very flexible, you can use it to get cash back on categories not covered by other free cards. So for example, if you’re going on vacation, you could switch one category to hotels a month-ish in advance so you get 2% on hotel spending. Or if you’re moving to a new house and want to buy furniture or home improvement items, you can activate those categories. You should probably keep common categories like entertainment or transit covered by other cards like the Desjardins Bonus Visa or Cash Back Visa to keep category slots on your Tangerine open for less common categories.

• If you’re a Rogers/Fido customer it should be clear that the Rogers MasterCards (basic one) are the dominant card here, an absolute no brainer.

• The Triangle World Elite MasterCard is another masterpiece that everyone should consider but especially car owners, homeowners:

  • 3% in Canadian Tire Money (CTM) on groceries

  • ~2.5-5% (depending on gas prices) in CTM on gas at Canadian Tire and enroute and Petro Canada.

  • Free roadside assistance package including free oil change.

  • Purchases over $150 at Canadian Tire, Sportchek, etc. can be split into 24 equal monthly payments, no extra charges or interest. You could invest the cash you don’t need to pay back right away into a savings account or something instead.

  • 1% in CTM on bill payments, this should be especially good for those paying university/college fees, property taxes, etc.

  • 4% in CTM (~3.5% after tax) at Canadian Tire and a bunch of places, which allow stacking coupons. E.g. I got a $2000 snowblower for something like $1300 from Canadian Tire (could have been $1200).

• If you travel a lot there are probably better options for the no foreign currency conversion card than the Home Trust Preferred Visa. You probably also want strong travel insurance coverage so a card like Meridian Travel Rewards Visa Infinite ($99/year) is probably worth the annual fees and you essentially get 0.5% back on foreign transactions.

I wanted to get the Amex cobalt but some friends are telling me that the signup bonus is a bit low rn and to wait for an offer.

Is there another card that’s worth it?

For reference I’m in the GTA and spend money on going out and groceries. Could also consider using chexy to pay for my rent.

I already have a Scotia passport infinite for lounge access and foreign travel.

Hey all 👋, I live in Ontario and I’m trying to find a credit card with no annual fee (or free year) that gives either travel rewards (for vacations / all-inclusive trips) or cash back.

Here’s what I’m after:

• A card available to Canadians / Ontario residents.

• No yearly fee or free year.

• Either decent rewards/points for travel, or solid cash back on regular purchases.

I rather use the points towards all inclusive packages vs flight/hotel

If you have any cards you love whether points or cash back, I’d love to hear your experiences. Thanks!

Often, there are posts asking about the best no-fee credit cards, so I've compiled this list. These cards are listed in alphabetical order.

ETA: Some of these cards may also come with sign-up bonuses from third party sites like Credit Card Genius, Great Canadian Rebates, Frugal Flyer, or Rates.ca. They may also have referral bonuses. Please do not solicit referrals in this thread as it goes against subreddit rules.

American Express Simply Cash

• 2% gas and groceries (not accepted at Loblaw brand grocers)

• 1.25% everything else

• Amex offers — offers may be targeted to certain users/cards

• Cash back issued on September statement

BMO CashBack Mastercard

• 3% groceries (up to $500 spend/mo.)

• 1% recurring bills (up to $500 spend/mo.)

• 0.5% everything else

• Cash back redeemed manually; $1 minimum

CIBC Costco Mastercard

• 3% restaurants and Costco Gas

• 2% Costco.ca and other gas stations

• 1% everything else

• Cash back issued as a Costco gift certificate every January

CTFS Cash Advantage Mastercard

• X% everything:

  • $0-$1500 annual spend = 0.25%

  • $1500-$3000 = 0.5%

  • $3000-$24000 = 1%

  • $24000+ = 1.5%

• CTFS bill payment system — pay your bills (e.g., property tax, Enbridge, Hydro, NSLSC, etc.) and earn cash back without incurring any fees associated with CC payments

• Cash back issued on January statement

CTFS Triangle World Elite Mastercard (minimum $80k annual income)

• 4% (Triangle Reward Points) Canadian Tire, Sport Chek, Mark's, Pro Hockey Life, Party City

• 3% (Triangle Reward Points) groceries

• 1% (Triangle Reward Points) everything else

• 5c/L at Gas+ stations

• CTFS bill payment system — pay your bills (e.g., property tax, Enbridge, Hydro, NSLSC, etc.) and earn Triangle Reward Points without incurring any fees associated with CC payments

• Canadian Tire Gold Roadside Assistance

• 31-day rental car collision/loss damage insurance

• Personal Concierge service

Rogers Mastercard

• X% everything:

  • 1%

  • 2% with a linked Rogers, Fido, or Shaw service (can be authorized user on account)

    • +50% value (= 3%) when redeeming cash back towards your Rogers, Fido, or Shaw service

    • 5 Roam Like Home days for your linked Rogers mobile service

• Cash back redeemed manually; $10 minimum

Simplii Financial Cash Back Visa

• 4% restaurants, bars, cafes, food delivery apps

• 1.5% gas, groceries, pharmacies, and recurring bills

• 0.5% everything else

• Cash back issued on December statement

Tangerine Mastercard

• 2% any two categories of your choice (three categories with a Tangerine savings account)

• 0.5% everything else

• Benefits exclusive to Tangerine World Mastercard (minimum $60k annual income):

  • $1000 mobile device insurance

  • 31-day rental car collision/loss damage insurance

  • Boingo Wi-Fi for Mastercard

• Cash back issued monthly (against statement balance or into Tangerine savings account, if one exists)

I just landed my first real job and I was told I need to get a credit card to start building history. I still have the RBC account my parents opened for me when I was a kid but honestly I am open to getting a card from another bank if the deal is better. My main issue is that I refuse to pay an annual fee because I think it is stupid to pay a bank for the privilege of spending my own money, so don’t try to convince me to get any other card than a free one. I have a preference for cashback, but I'm open to rewards points but only if there is a way to convert that shit to statement credits or gift cards easily. If I can not use the points to pay the bill or buy groceries then I do not want them. Most of my money goes to groceries and dining out or recurring bills like my phone plan. I do not drive and cannot afford to travel, so could not care less about gas rewards or travel insurance. Any suggestions?

Hi everyone,

So I graduated and when I was a student I had the TD Cash Back Visa* Card with a $1K limit.

I have not been able to get a job so I have no income and I'm looking to get a no fee card that doesn't have an income requirement. I'm looking to up my total credit amount so I can keep my overall utilization low.

I think the only one I've seen is the Triangle MC. Are there others.

I'd love to get some recommendations for this.

Currently looking to replace my credit card with one with no annual fee. Any recommendations? Thanks

Update- Thank you all for your replies!

I'm curious to get everyone's thoughts on the best credit cards in Canada. Which cards do you use and why?

I want to increase my credit score so thinking about transferring some grocery expenses to credit card. So what is best NO ANNUAL FEES credit card in Canada with no hidden expenses or fees.if they also offers rewards that's good if not that's also okay. Thanks in advance.

https://i.redd.it/credit-card-no-annual-fee-cashback-key-v0-3hlm6k0fkjya1.jpg?s=4955c06561fd80291fdc5c17804d928a01055122 - Link to Guide This is an optimized guide for the best return disregarding convenience or the number of cards Cashback preferred over store credit let me know if any suggestions/updates thanks.

• Tangerine Note Optimization For Best Categeries on 2% up to 3 can be selected by user: These Categories for best return with other cards would be Drug Store, Recurring Bills, Entertainment, Furniture, Hotel-Motel, Home Improvement, Parking/ Public Transportation *BMO 500$ per Month 3% Limit if Limit Exceeded Use Canadian Tire World Elite for 3% Cashback on Groceries up to 12,000 Annually

In terms of rewards I’d like to see what you are using. Do you feel rewarded? I’m currently using the CIBC Costco card (3% cash back) for personal and earning nothing on my business card as I do very little spending but I’m switching gears and will need a good business card soon as well. TIA!

Currently, I am a customer of CIBC and TD. I am 20 and am looking to apply for a credit card. If I plan to, say, lease a car and rent a place within the next 3-10 years, is now the best time to apply, or is it too late? I looked at AMEX (this is American however), BMO, RBC, and CIBC and TD Aeroplan. Should I stick with what I have, or open a new account for applying? Should I also open an online bank like Simplii?