Best No Annual Fee Cards

The credit card market in Canada is fiercely fought over, and more and more premium offerings have resorted to nixing annual fees in the hopes of winning a permanent slot in your wallet, oh precious consumer. This article outlines the best no-fee credit cards, including both those with a first-year fee waiver, which tend to offer much greater value, and those that are permanently sans-fee.

CardBonusSpend2nd Year FeeApply

AMEX Gold Rewards
$250$1,500$150Apply NowReview

Chase Marriott Rewards® Premier Visa®
30,000 pointsNone$120Apply NowReview

American Express Blue Sky
$100$500FreeApply Now

First Year Fee Waivers

The Amex Gold Card is most likely the best value card you can get your hands on. Assuming you can tackle the $1,500 spending requirement, the $250 welcome bonus offers extremely flexible value – you can either use the points as credit against your statement, or transfer them to a number of different Frequent Flyer programs including Aeroplan, Avios, and many others.

The Marriott Premiere card delays the $120 fee until the second year, but new customers still are rewarded with a welcome points package good for up to four free nights upon initial card activation.  We cannot stress enough how really special this value is – for the price of a pack of gum you can cover much of your hotel expense on your next vacation.

No Annual Fees Ever!

All it takes is $500 in spend within the first three months and you’ve earned yourself $100 in points which can be used as credit towards any travel expense charged on the card. All purchases earn points at the respectable rate of 1.25%, and the card comes packaged with a $100k travel accident insurance plan and a number of additional minor but nice-to-have perks.

This no-fee card from AMEX is offering 2.5% cashback on gas, groceries and restaurants for your first three months. Like the Blue Sky card you’ll get a 1.25% rate on all purchases after this promotional period ends, which can be used as cash to pay for any purchases on the card.

So, is the 2.5% cashback better value than the $100 in points earned with the Sky Blue? It is, if you are able to spend more than $2,667 within the six month promotional period. The ability to spend the earned cash on anything you want, as well as better perks – add rental car theft and damage as well as purchase protection to the package offered by the Blue Card – and many would argue that Simply Cash is superior.

Additionally, you can transfer an existing balance if you have got, and enjoy a six-month interest payment vacation at 1.99%.

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