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.
|Card||Bonus||Spend||2nd Year Fee||Apply|
|30,000 points||None||$120||Apply NowReview|
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.
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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