Best No Annual Fee Credit Cards

Are you looking for the Best No annual fee credit cards in Canada? then you have come to the right place. There must be various reasons why you are looking for a credit card that doesn’t charge an annual fee and the most common reason would be affordability. Right?

The no annual fee credit cards offers you a long-term value and makes your life easier by providing various rewards.

Are No fee Credit Cards Legit?

Yes obviously, we know how painful it is to pay an annual fee when you aren’t able to afford it. Consequently, there are various such credit cards out there that provide you with the same features and rewards without even paying the annual fee.

Read Also: 3 Ways To Check Credit Score For Free In Canada

Best No Fee Credit Cards in Canada

#1 Tangerine Money-Back Credit Card

Who can apply?

• Minimum income required- $12,000
• Age: Must have attained the age of majority in your territory

Tangerine Money-Back credit card offers you unlimited cashback along with loads of rewards. It is the best credit card for gas in Canada as it provides you 2% of unlimited cashback if you spend on any 3 types of purchase categories, and 0.5% cashback is given on any other category.

Many things fall into their purchase categories like categories, and bill payments, public transportation, drug store, parking, and hotels.

Tangerine Money-Back credit card Extra Benefits:

• Purchase assurance is provided to cardholders to cover loss, theft, or any damage on new purchases made anywhere in the world.
• The validity of this insurance is up to 90 days from the date of purchase.

#2 PC financial credit card

Key features:

• Annual fee: $0
• Purchase rate:20.97%
• Cash advances:22.97%
• Eligibility: it will be subject to credit approval and the individual must be 18 yrs old above

You can get 10 points per $1 you spend stores in their grocery stores, 25 points per $1 on purchases from shopper’s drug mart. And 30 points per liter you purchase at Mobil, 20 points on travel purchases, and lastly 10 points on every other purchase.

PC financial credit card Extra benefits: –

• MasterCard Global service is provided during emergencies.
• You can add 4 additional cards as your family accounts on your account.
• An extended warranty is also provided.
• Free purchase insurance is offered in the first 90 days from the date of purchase in case of theft, loss or any damage.

#3 BMO Cashback Mastercard

Key features:

• Annual fee: $0
• Purchase interest rate:19.99%
• Cash advance rate:22.99%
• Welcome bonus offer: You will get a 5% cashback on your first 3 months and an introductory interest rate of 1.99% will be given for 9 months with a 1% transfer fee on balance transfers.

BMO CashBack Mastercard Cashback

• You will earn 3% cashback on grocery purchases or food items. 1% cashback on recurring payments, subscriptions, and any sort of services. 0.5% cashback on any other purchases.
• BMO Cashback Mastercard no doubt is the best no annual fee credit card with amazing benefits and the foremost benefit you can redeem your cashback anytime even if it’s worth $1.
• You can set up a higher limit or daily limit in case you reach that limit, it will remind you to pay or deposit the amount automatically.

BMO CashBack Mastercard Extra benefits:

• You can earn extra cashback if you add one more cardholder to your card for free.
• An exciting 15% off admission to Cirque du Soleil shows.
• Extend warranty and purchase protection.
• Zero liability feature which safeguards you in case of any theft loss or unauthorized payment.

#4 Home Trust Preferred Visa

Key features:

• No annual fee
• No foreign exchange charges

Home trust preferred Visa cashback

Get 1% cashback on all your purchases and use the most out of it.

Home Trust Preferred Visa Extra benefits:

• Accepted worldwide. No Foreign Transaction Fees
• Easily manageable anytime and anywhere at home trust Visa online.
• A guaranteed reservation is also provided even if you get late.
• Purchase security for the first 90 days.

#5 Triangle World Elite Mastercard

Key features:

• Annual fee: $0
• $50 first year value
• Welcome Rewards: You will get 15% cashback on your first purchase at Canadian Tires and Cashback worth of $50 is also provided if someone make purchase of $330 above.
• Minimum income: $80,000

Triangle World Elite Mastercard can save a lot of money of if you make gas purchases frequently at Canadian Tire stores, As Triangle world Elite Mastercard offers 5 cents per liter and 4% cashback at Canadian tire stores.

Triangle World Elite Mastercard Extra Benefits:

• An online portal is available which makes it easier for you to log in and manage your Bill payments.
• Roadside Assistance Gold plan membership with 24 hours assistance and extra services like flat tire charges, fuel delivery.

#6 MBNA Rewards Platinum Plus Mastercard

Key Features

• Annual Fee: $0
• Purchase interest:19.99%
• Rewards: 2 points per dollar

MBNA Rewards Platinum plus Mastercard offers 2% cashback on gas purchases and purchases under the category of grocery and restaurants.

The cardholder will be provided 1% cash back on every other purchase. And it is very easy to redeem the points and use them for further purchases and merchandise.

MBNA Rewards Platinum Plus Mastercard Extra Features

• Purchase protection and Mobile devices Insurance for the first 90 days from the date of purchase.
• Extended warranty.

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Tangerine Money-Back Credit Card: Review, Eligibility, Cashback, Pros and Cons

Tangerine credit cards are the best no-annual-fee credit card in Canada and Best Student Credit Cards in Canada. As you know how troublesome it is to find the best credit card in Canada that includes all the exciting features and is still able to fulfill our desires. Tangerine Money-Back Credit card makes it easy for you to save money on every purchase and return you with exciting cashback and Money-back rewards.

Although, no-fee credit cards are in high demand nowadays as customers are preferring affordability. And, Tangerine Credit card is one of them that provides maximum satisfaction to their cardholders.

Card Name & Issuer: Tangerine Money-Back Credit Card

Tangerine was established as ING DIRECT CANADA on April 27, 1997. Particularly, they don’t have branches everywhere but it’s more like a website. Its headquarters is situated in Toronto.

Tangerine Money-Back Credit Card Annual Fee

As you are aware of the fact that Tangerine money-back credit card doesn’t require an annual fee. Therefore, you are good to go.

Eligibility Requirements for Tangerine Money-Back Credit Card

• The Gross annual income required for this card is $12,000 or more.
• And you must have attained the majority age in Canada.
• Must be a permanent resident of Canada.
• No history of Bankruptcies.

Tangerine Money-Back Credit Card Rewards/Offers

• You will earn 2% money-back rewards on any two purchase categories and 0.50% Money-back rewards on any other purchase category.
• There is no prior limit on earning money-back rewards.
• You can deposit all your tangerine money-back rewards on Tangerine savings account and get an extra 2% money-back category.
• 2% Money-Back Categories includes:
  • Grocery
  • Furniture
  • Hotels
  • Gas
  • Recurring bill payments
  • Restaurant

How to Apply for Tangerine Money-Back Credit Card?

• Visit the official site of Tangerine Money-back credit card. You need to register an account to apply for it.
• If you already have an account then you can choose to log in.
• Then you will be presented with a form on that particular site.
• Tangerine will be asking you about the employment information, annual salary, mailing addresses, and contact information.
• Read the full statements and fill the respective form and submit it.

Insurance Coverage on Tangerine Money-back Credit Card

• Purchase insurance:
  Purchase assurance is provided to cardholders to cover loss, theft, or any damage on new purchases made anywhere in the world.
  The validity of this insurance is up to 90 days from the date of purchase.
• Extend warranty

Tangerine Money-Back Credit Card Pros

• The crucial pros of this card are that there is no annual fee required.
• You can choose your money-back categories by yourself.
• Your money back category can be increased added with extra benefits.
• You will get various cashback offers along with a welcome offer
• Compatible with mobile payment apps.
• Cashbacks can be easily redeemed and transferred to a savings account.

Tangerine Money-Back Credit Card Cons

• Tangerine Bank doesn’t have any branch anywhere. they are like a web portal bank.
• Regular cashback rewards are not enough alluring for customers.
• Insurance coverage isn’t up to the mark.
• The purchase protection period is very much limited.
• You cannot give cashbacks as cash or cheques.

Editor’s Review on Tangerine Money-back Credit card

Tangerine Money-back credit card is no doubt a top-notch card. And it doesn’t require an annual fee. But at the same time, its money-back returns rate is quite low as compared to any other no annual fee credit card. Tangerine money-back credit card gives you the advantage of choosing your 2% money-back categories for money-back returns and apart from that, you can increase your money-back category too.

However, the Insurance coverage is also not up to the mark and the 2% money-back rate is very modest. At last, I would say the Tangerine Money-back credit card is quite beneficial for those who prefer affordability and don’t want to pay an annual fee but expect satisfying offers. Then this card would be the best option as it’s compatible with mobile Payment apps like Gay. And Redeeming is easier for cardholders because the money-back rate gets transferred to the Tangerine savings account automatically and can be redeemed as per the user’s preference.

FAQs (Frequently Asked Questions)