Best No Annual Fee Cash Back Credit Cards In Canada For October 2025
Get rewarded for free. Simple as that.
The Rogers Red World Elite Mastercard is the best no annual fee cash back credit card in Canada, mostly due to its excellent earn rates. These rates are even better for Rogers, Fido, and Shaw customers.
Just because it doesn't have an annual fee doesn't mean a credit card doesn't have value. While it's generally true that no fee cards have fewer benefits than typical cards, the best options in this category still offer excellent earning potential, insurance packages, and other benefits.
You'll find detailed reviews below of Canada's top no fee cash back cards, with all the information you need to feel confident in your card choices.
Key Takeaways
- The best no fee cash back credit card in Canada is the Rogers Red World Elite Mastercard.
- Most no fee credit cards offer some rewards and perks, though not as many as more premium cards with annual fees.
- If you charge a lot to your credit card each month, it’s probably time to consider upgrading to a card that will earn you more rewards and include extra perks and benefits.
Best no fee cash back credit cards in Canada for October 2025
You’re probably ready to explore the details of the best Canadian cards – here’s a quick table outlining our favorite picks.
| Category | Credit card | Current offer |
|---|---|---|
| Best no fee cash back credit card | Rogers Red World Elite Mastercard | None |
| Runner-up | Neo World Mastercard | None |
| Best no fee credit card for travel rewards | American Express Green Card | 10,000 bonus points (terms) |
| Best no fee credit card for newcomers | Tangerine Money-Back Credit Card |  $125 GeniusCash + 10% extra cash back for the first 2 months (terms) |
| Best no annual fee cash back Amex | SimplyCash Card from American Express | 5% cash back for the first 3 months (terms) |
| Best no fee credit card for business | BMO CashBack Business Mastercard | $100 GeniusCash + 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for the first 3 months (terms)
|
1. Best no fee cash back credit card
Why it’s the best: Despite the high income requirements as a barrier to entry, the Rogers Red World Elite Mastercard is a standout credit card, offering high rewards value for savvy spenders. You’ll earn 1.5% cash back on all your purchases, which gets boosted to 3% if you’re making purchases in USD. The card also comes with 6 insurance types, providing peace of mind on your purchases and travels. Plus, you can get a 50% bonus when using cash back to pay for any Rogers service. If you do business with Rogers, this card is a must-have.
What you’ll earn:
- Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw
- Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases
- Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars
What cardholders say: "Rogers Mastercard is the best no annual fee card for sure, just given you can use it everywhere, including Loblaws and Costco. 2% cashback (unlimited) on everything or 3% cashback if applied to your Rogers bill. You also get five free roam like home days valued at $75, and you get a $100 welcome bonus." —Reddit user (23 Jan 2024)
2. Runner-up for best no fee overall
Why it’s the best: The Neo World Mastercard offers high cash back rates for a no fee card – up to 5% at partner retailers. You can get a staggering 4% cash back on groceries if you leave $10,000 in a Neo Everyday Account, and your cash back can be redeemed whenever you need it.
What you’ll earn:
- Average of 5% cash back at partner retailers
- 2% cash back on groceries, up to $1,000 spent monthly
- 2% cash back on recurring bills, up to $500 spent monthly
- 2% cash back on gas and EV charging, up to $1,000 spent monthly
- 0.5% cash back everywhere else
What cardholders say: "This is a clear winner over the Costco Mastercard. I'm currently on day 166/365 on the card and have already surpassed what I would have gotten from Costco including the annual fees for the Neo Card."- Reddit user (12 July 2025)
3. Best no fee credit card for travel rewards
Why it’s the best: Amex has the best no fee credit card in Canada with the American Express Green Card. In addition to a solid, if fairly low, earn rate of 1 point per $1 spent on everything, you’ll enjoy Front of the Line access, Amex Offers, and more. Plus, you can redeem your points for cash back or with Amex Membership Rewards, where the value of the points is well above average for a no annual fee credit card.
What you’ll earn:
- 1 point per $1 spent on all purchases
What cardholders say: "...The Green card is best for people new to the Amex ecosystem or people who spend a lot on non-air travel. Overall, still not a bad card, but that doesn't translate into a ton of hype."- Reddit user (17 July 2024)
4. Best no fee cash back card
×1 Award winner 
GC: $125
1x Award winner Why it’s the best: The Tangerine Money-Back Credit Card is one of the most flexible cash back cards because it lets you choose the bonus categories to earn boosted cash back rates. You’ll choose two of the ten available spending categories – or three if your cash back is deposited into a free Tangerine Savings account – to earn 2% cash back on your purchases. You’ll still earn on purchases outside your chosen category, though the earn rate is only 0.5%. Fortunately, you can change your categories at any time if your spending habits change.
What you’ll earn:
- 2% cash back on purchases in up to 3 Money-Back Categories
- 0.5% cash back on all other purchases
What cardholders say: "For a free card from a cashback perspective, it's not bad. You get to choose which categories you want to receive elevated cashback for. The cashback is also credited back to you monthly so you don't need to hit some threshold or wait for the end of the year or whatever to actually receive the rewards like other cards. Beyond that though, there isn't much else that's too great about it." —Reddit user (17 August 2024)
Want a premium version of this card? The Tangerine World Mastercard offers a few extras if you meet standard World Mastercard income requirements of $60,000 personal or $100,000 household. You'll get the same rewards, four types of travel insurance, Mastercard Travel Membership, and World Mastercard benefits – still with no annual fee.
GC: $125
5. Best no fee cash back Amex card
Why it’s the best: If you want to earn the most rewards with a no fee cash back credit card, the SimplyCash Card from American Express is a solid choice. This American Express credit card gives a higher-than-standard base earn rate, plus a few categories that earn you even more. This card’s reward rate works out to an average of 1.46%, which compares favourably to many premium credit cards.
What you’ll earn:
- 2% cash back on gas
- 2% cash back on groceries (up to $300 cash back annually)
- 1.25% cash back on all other purchases
What cardholders say: "For me SCP won hands down when compared to using the Cobalt, by about $400/yr in value. I'm in a smaller town and don't have a great place to get the 5% without going out of my way, and I spend comparatively a lot more in the 'Other' category where I can benefit from the 2% base more than 1MR/$. I understand you can transfer to Aeroplan and can find good deals, but it's never worked out well enough that I'd rather just get the cash back and do what I want with it." - Reddit user (11 Sept 2024)
6. Best no fee business card
×1 Award winner GC: $100
1x Award winner Why it’s the best: The BMO CashBack Business Mastercard is our top business credit card with no annual fee. You’ll get a solid earn rate of 1.5% on gas, office supplies, cell phone bills, and internet bills – but that drops to 0.75% for everything else. The card includes a unique grace period of 25 days before your balance starts accumulating interest, plus you’ll save when fuelling up at Shell when you link your Air Miles account.
What you’ll earn:
- 1.75% cash back at Shell
- 1.5% cash back on gas, office supplies, and cellphone/internet bills
- 0.75% cash back on all other purchases
What cardholders say: "Keep business and personal credit cards separate. BMO cashback is a good no fee CC. There aren't many without annual fees unfortunately but you can check." —Reddit user (29 January 2024)
How we get our rankings
To decide on the best no annual fee credit cards, we take into account over 126 features of each card, broken down into seven main categories. And since we're talking about no annual fee credit cards, we give extra weight to both the fees and rewards categories – they're the primary features we're after with cards on this page.
We then take those features and put them through our algorithm, which calculates a score out of 5. We base all of our reward calculations on a typical monthly spend of $2,000.
Learn more about our Genius Rating methodology
How much can you earn with these cards?
Have a look at this quick rundown of earnings in popular categories.
| Rogers Red World Elite Mastercard (Rogers customer) | Rogers Red World Elite Mastercard (non-Rogers customer) | American Express Green Card | Tangerine Money-Back Credit Card | SimplyCash Card from American Express | BMO CashBack Business Mastercard | |
|---|---|---|---|---|---|---|
| Gas | 2% | 1.5% | 1% | Up to 2% | 2% | 1.75% at Shell, 1.5% at other stations |
| Groceries | 2% | 1.5% | 1% | Up to 2% | 2% | 0.75% |
| Restaurants | 2% | 1.5% | 1% | Up to 2% | 1.25% | 0.75% |
| Travel | 2% | 1.5% | 1% | Up to 2% | 1.25% | 0.75% |
| Recurring bills | 2% | 1.5% | 1% | Up to 2% | 1.25% | 0.75% |
| USD purchases | 3% | 3% | 1% | 0.5% | 1.25% | 0.75% |
| Everything else | 2% | 1.5% | 1% | 0.5% on all non-category purchases | 1.25% | 1.5% on office supplies, cellphone, and internet bills |
Pros and cons of credit cards with no annual fee
To fee or not to fee, that is the question. Here are some considerations to help you decide if your prospective card is right for you:
Pros:
- No fee means rewards are cash in your pocket. There’s no need to pay an annual or monthly fee just for the privilege of using the card.
- You’ll earn rewards even if you don’t use your card often. If you’re on a tight budget or have a low income, every purchase you make will still earn you cash back, even if it’s a small amount.
- You’re not paying more than the card is worth. With some premium credit cards, the value you earn might be close to the fee for the card, so you’re not exactly getting much out of it. With a no fee card, you don’t have to worry about this.
Cons:
- Cash back rates are often lower than other cards. The best no fee cash back cards have average earn rates over 1%, but none are higher than 2%.
- They have limited insurance coverage. No fee cards simply don’t offer as many insurance types or as much coverage as cards that charge an annual fee.
- They lack premium perks and benefits. Most no fee cards don’t offer perks like airport lounge access, elite status with rewards programs, or valuable services like roadside assistance.
No annual fee cards are NOT no fee credit cards
We should be clear: just because there are no annual fees does not mean there are no fees at all. Here are potential fees associated with no-fee credit cards:
- Interest charges: If you don’t make a full payment by the due date on your credit card bill, you’ll be charged interest on the balance of the card.
- Foreign transaction fees: While you can use your card when you’re travelling abroad, you’ll typically be charged a 2.5% foreign transaction fee if you’re buying something in a currency other than Canadian dollars.
- Cash advance fees: Most cards give you the option to take out money from your card’s line of credit. When you do, you’ll get hit with a flat charge or a fee as a percentage of the cash advance amount – plus, interest will start accruing immediately.
- Over-limit fees: If you exceed your credit limit for any reason – purchases, interest charged, a late fee accrued – you’ll be charged an over-limit fee.
- Inactivity fees: Read the fine print on your card if you’re planning on taking a break from using it. Some cards will charge you an inactive account fee if you don’t make purchases or have other activity for a period of time.
- Balance protector premiums: This is optional insurance coverage that can help you pay towards your outstanding credit card debt if you experience a misfortune like job loss, disability, or the death of a loved one. To get coverage, you’ll pay a monthly fee equivalent to a percentage of your credit card balance.
This means that you won't be worry-free when it comes to fees – but in most cases, if you use your credit card responsibly, you won't run into many, either.
How to choose the right no fee credit card
There are quite a few no fee credit cards out there, and choosing the right one requires considering the features and fees.
Here are the details to note when comparing and choosing a no fee credit card:
- Earn rates: Choose a card that gives the highest earn rate for your highest spending categories. You should also decide if you want a card that makes you select earning categories or gives you a flat rate across all spending.
- Interest rates: Interest rates are especially important to consider since they're where you'll be dinged the most if you carry any kind of balance.
- Insurance: A solid insurance package can be incredibly valuable, potentially making or breaking your decision.
- Perks: Research the additional perks that might come with a card. Some might not have any that are valuable to you, while others can seem curated for your specific needs.
- Eligibility: Not every card has minimum credit score or income requirements, but these can play a huge role in whether or not you’re approved.
- Welcome offers: Especially when you're stuck between a few cards that seem nearly identical, comparing the value of a welcome offer can make a difference.
When should you upgrade your no fee card?
No fee credit cards can be great if you’re looking to build up your credit score, or you don’t use credit cards enough to earn back the value of an annual fee. That said, if you spend more than around $1,200 each month, it is probably worth it to swap to a premium credit card – the value of the rewards you earn will likely outweigh the annual fee.
If you’re considering upgrading your card, consider a few key things:
- Annual fee
- Earn rate
- Perks value
Calculate a rough estimate of how much you could comfortably earn via cash back or rewards points over the course of a year. If your cash back and rewards are worth more than the annual fee costs, it’s likely a good idea to upgrade.
Even if a premium credit card’s rewards don’t quite cover the annual fee, perks may make up the difference. With certain cards offering free lounge visits, built-in insurance, roadside assistance, or sign-up bonuses, the value of a premium credit card can skyrocket pretty quickly. If you think you could get tons of use out of a specific perk or if the included insurance will save you money, it may be time to upgrade to a premium credit card.
Many cards offer annual fee waivers for the first year, which can make the upgrade a little less daunting (and a little more valuable!).
FAQ
What is the best no fee cash back credit card in Canada?
Our top pick is the Rogers Red World Elite Mastercard, which offers a flat 1.5% cash back on all purchases and 3% on USD purchases. There's also a 50% bonus for using cash back to pay your Rogers bill.
Is it better to get cash back or no annual fee?
It completely depends on your budget and how you use your card. If you use your card frequently and earn enough rewards to offset the fee, cash back can be worthwhile. Otherwise, a no annual fee card keeps costs lower.
Is there a downside to cash back credit cards?
Some cash back cards limit your redemption options or have strict rules about when you can redeem your cash back. For instance, some cards only give cash back once a year, so read your card’s terms and conditions.
What is the annual fee for TD cash back?
There are two TD cash back cards. The TD Cash Back Visa Infinite Card has a $139 annual fee, and the TD Cash Back Visa Card doesn’t have an annual fee, but didn’t quite make our best of list.
What credit card gives the most cash back?
While the best cash back card has a $99 annual fee, the MBNA Rewards World Elite Mastercard gives five points per $1 spent on restaurants, groceries, and select recurring bills, and 1 point per $1 spent on everything else.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 229 Canadian credit cards.
