Best no annual fee credit cards in Canada for 2026

Verified Oct 16, 2026CAD

Cards with no annual fee ranked by 3-year value on a couple's spending. Each card shows Year 1 against every year after, so a card that's mostly its welcome bonus is easy to spot.

Advertiser disclosure: we may earn a commission when you apply through some links on this page. It never affects rank: cards are ordered by the value worked out from your spending. How we make money · Methodology

Spending: Couple · $2,555/moRank these on my own spending

#1
Scotiabank
American Express Card
No annual feeGroceries 3xDining 2x
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$585
Year 2+$485
3 years $1,556 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$585
Year 2+$485
Welcome or anniversary bonus$100 / $0Rewards on spending$485 / $485Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
3x
Groc
Groceries
2x
Dine
Dining and takeout
2x
Gas
Gas and EV charging
1x
Air
Flights
1x
Hotel
Hotels and car rentals
2x
Transit
Transit and rideshare
2x
Stream
Streaming
1x
Drug
Drugstores
1x
Online
Online shopping
1x
Bills
Phone, internet and utilities
1x
Other
Everything else
Why it's ranked here
Ranked #1 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,556 after fees.
Year 1. $585 = welcome bonus $100 + rewards $485.
Each year after. $485 = rewards $485.
Against #2. Beats PC Financial PC World Elite Mastercard by $104 over 3 years, mostly on rewards on spending (+$54).
Points valued at 1.00¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
#2
PC Financial
PC World Elite Mastercard
No annual feeGroceries 30xDrugstores 45x
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$517
Year 2+$467
3 years $1,452 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$517
Year 2+$467
Welcome or anniversary bonus$50 / $0Rewards on spending$467 / $467Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
30x
Groc
Groceries
10x
Dine
Dining and takeout
10x
Gas
Gas and EV charging
10x
Air
Flights
10x
Hotel
Hotels and car rentals
10x
Transit
Transit and rideshare
10x
Stream
Streaming
45x
Drug
Drugstores
10x
Online
Online shopping
10x
Bills
Phone, internet and utilities
10x
Other
Everything else
Why it's ranked here
Ranked #2 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,452 after fees.
Year 1. $517 = welcome bonus $50 + rewards $467.
Each year after. $467 = rewards $467.
Against #1. Trails Scotiabank American Express Card by $104 over 3 years, mostly on rewards on spending (−$54).
Against #3. Beats Simplii Financial Cash Back Visa by $59 over 3 years, mostly on rewards on spending (+$109).
Points valued at 0.10¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
#3
Simplii Financial
Cash Back Visa
No annual feeDining 4%Groceries 1.5%
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$531
Year 2+$431
3 years $1,393 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$531
Year 2+$431
Welcome or anniversary bonus$100 / $0Rewards on spending$431 / $431Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
1.5%
Groc
Groceries
4%
Dine
Dining and takeout
1.5%
Gas
Gas and EV charging
0.5%
Air
Flights
0.5%
Hotel
Hotels and car rentals
0.5%
Transit
Transit and rideshare
0.5%
Stream
Streaming
1.5%
Drug
Drugstores
0.5%
Online
Online shopping
1.5%
Bills
Phone, internet and utilities
0.5%
Other
Everything else
Why it's ranked here
Ranked #3 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,393 after fees.
Year 1. $531 = welcome bonus $100 + rewards $431.
Each year after. $431 = rewards $431.
Against #2. Trails PC Financial PC World Elite Mastercard by $59 over 3 years, mostly on rewards on spending (−$109).
Against #4. Beats Rogers Bank Red World Elite Mastercard by $14 over 3 years, mostly on welcome bonus (+$100).
Verified Oct 16, 2026Every term and assumption
#4
Rogers Bank
Red World Elite Mastercard
No annual fee
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$460
Year 2+$460
3 years $1,380 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$460
Year 2+$460
Rewards on spending$460 / $460Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
1.5%
Groc
Groceries
1.5%
Dine
Dining and takeout
1.5%
Gas
Gas and EV charging
1.5%
Air
Flights
1.5%
Hotel
Hotels and car rentals
1.5%
Transit
Transit and rideshare
1.5%
Stream
Streaming
1.5%
Drug
Drugstores
1.5%
Online
Online shopping
1.5%
Bills
Phone, internet and utilities
1.5%
Other
Everything else
Why it's ranked here
Ranked #4 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,380 after fees.
Year 1. $460 = rewards $460.
Each year after. $460 = rewards $460.
Against #3. Trails Simplii Financial Cash Back Visa by $14 over 3 years, mostly on welcome bonus (−$100).
Against #5. Beats Scotiabank Scene+ Visa by $302 over 3 years, mostly on rewards on spending (+$352).
Verified Oct 16, 2026Every term and assumption
#5
Scotiabank
Scene+ Visa
No annual feeGroceries 2x
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$393
Year 2+$343
3 years $1,078 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$393
Year 2+$343
Welcome or anniversary bonus$50 / $0Rewards on spending$343 / $343Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
2x
Groc
Groceries
1x
Dine
Dining and takeout
1x
Gas
Gas and EV charging
1x
Air
Flights
1x
Hotel
Hotels and car rentals
1x
Transit
Transit and rideshare
1x
Stream
Streaming
1x
Drug
Drugstores
1x
Online
Online shopping
1x
Bills
Phone, internet and utilities
1x
Other
Everything else
Why it's ranked here
Ranked #5 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,078 after fees.
Year 1. $393 = welcome bonus $50 + rewards $343.
Each year after. $343 = rewards $343.
Against #4. Trails Rogers Bank Red World Elite Mastercard by $302 over 3 years, mostly on rewards on spending (−$352).
Against #6. Beats Tangerine Money-Back Credit Card by $5 over 3 years, mostly on rewards on spending (+$55).
Points valued at 1.00¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
#6
Tangerine
Money-Back Credit Card
No annual feeGroceries 2%Dining 2%
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$424
Year 2+$324
3 years $1,073 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$424
Year 2+$324
Welcome or anniversary bonus$100 / $0Rewards on spending$324 / $324Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
2%
Groc
Groceries
2%
Dine
Dining and takeout
2%
Gas
Gas and EV charging
0.5%
Air
Flights
2%
Hotel
Hotels and car rentals
2%
Transit
Transit and rideshare
0.5%
Stream
Streaming
2%
Drug
Drugstores
0.5%
Online
Online shopping
2%
Bills
Phone, internet and utilities
0.5%
Other
Everything else
Why it's ranked here
Ranked #6 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $1,073 after fees.
Year 1. $424 = welcome bonus $100 + rewards $324.
Each year after. $324 = rewards $324.
Against #5. Trails Scotiabank Scene+ Visa by $5 over 3 years, mostly on rewards on spending (−$55).
Against #7. Beats RBC Cash Back Mastercard by $151 over 3 years, mostly on rewards on spending (+$151).
Verified Oct 16, 2026Every term and assumption
#7
RBC
Cash Back Mastercard
No annual feeGroceries 2%Gas 1%
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$374
Year 2+$274
3 years $922 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$374
Year 2+$274
Welcome or anniversary bonus$100 / $0Rewards on spending$274 / $274Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
2%
Groc
Groceries
0.5%
Dine
Dining and takeout
1%
Gas
Gas and EV charging
0.5%
Air
Flights
0.5%
Hotel
Hotels and car rentals
1%
Transit
Transit and rideshare
0.5%
Stream
Streaming
0.5%
Drug
Drugstores
0.5%
Online
Online shopping
0.5%
Bills
Phone, internet and utilities
0.5%
Other
Everything else
Why it's ranked here
Ranked #7 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $922 after fees.
Year 1. $374 = welcome bonus $100 + rewards $274.
Each year after. $274 = rewards $274.
Against #6. Trails Tangerine Money-Back Credit Card by $151 over 3 years, mostly on rewards on spending (−$151).
Against #8. Beats TD Rewards Visa by $29 over 3 years, mostly on welcome bonus (+$24).
Verified Oct 16, 2026Every term and assumption
#8
TD
Rewards Visa
No annual feeGroceries 3xDining 3x
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$348
Year 2+$272
3 years $893 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$348
Year 2+$272
Welcome or anniversary bonus$76 / $0Rewards on spending$272 / $272Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
3x
Groc
Groceries
3x
Dine
Dining and takeout
1x
Gas
Gas and EV charging
1x
Air
Flights
1x
Hotel
Hotels and car rentals
3x
Transit
Transit and rideshare
2x
Stream
Streaming
1x
Drug
Drugstores
1x
Online
Online shopping
2x
Bills
Phone, internet and utilities
1x
Other
Everything else
Why it's ranked here
Ranked #8 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $893 after fees.
Year 1. $348 = welcome bonus $76 + rewards $272.
Each year after. $272 = rewards $272.
Against #7. Trails RBC Cash Back Mastercard by $29 over 3 years, mostly on welcome bonus (−$24).
Against #9. Beats Scotiabank Momentum No-Fee Visa by $120 over 3 years, mostly on rewards on spending (+$145).
Points valued at 0.50¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
#9
Scotiabank
Momentum No-Fee Visa
No annual feeGroceries 1%Bills 1%
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$324
Year 2+$224
3 years $772 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$324
Year 2+$224
Welcome or anniversary bonus$100 / $0Rewards on spending$224 / $224Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
1%
Groc
Groceries
0.5%
Dine
Dining and takeout
1%
Gas
Gas and EV charging
0.5%
Air
Flights
0.5%
Hotel
Hotels and car rentals
1%
Transit
Transit and rideshare
1%
Stream
Streaming
1%
Drug
Drugstores
0.5%
Online
Online shopping
1%
Bills
Phone, internet and utilities
0.5%
Other
Everything else
Why it's ranked here
Ranked #9 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $772 after fees.
Year 1. $324 = welcome bonus $100 + rewards $224.
Each year after. $224 = rewards $224.
Against #8. Trails TD Rewards Visa by $120 over 3 years, mostly on rewards on spending (−$145).
Against #10. Beats RBC ION Visa by $70 over 3 years, mostly on rewards on spending (+$51).
Verified Oct 16, 2026Every term and assumption
#10
RBC
ION Visa
No annual feeGroceries 1.5xGas 1.5x
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$288
Year 2+$207
3 years $702 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$288
Year 2+$207
Welcome or anniversary bonus$81 / $0Rewards on spending$207 / $207Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
1.5x
Groc
Groceries
1x
Dine
Dining and takeout
1.5x
Gas
Gas and EV charging
1x
Air
Flights
1x
Hotel
Hotels and car rentals
1.5x
Transit
Transit and rideshare
1.5x
Stream
Streaming
1x
Drug
Drugstores
1x
Online
Online shopping
1x
Bills
Phone, internet and utilities
1x
Other
Everything else
Why it's ranked here
Ranked #10 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $702 after fees.
Year 1. $288 = welcome bonus $81 + rewards $207.
Each year after. $207 = rewards $207.
Against #9. Trails Scotiabank Momentum No-Fee Visa by $70 over 3 years, mostly on rewards on spending (−$51).
Against #11. Beats TD Cash Back Visa by $70 over 3 years, mostly on welcome bonus (+$81).
Points valued at 0.58¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
#11
TD
Cash Back Visa
No annual feeGroceries 1%Bills 1%
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.
Year 1$211
Year 2+$211
3 years $632 after fees· no fee to cover
Apply
Breakdown, earn rates and why it's ranked here
Year 1$211
Year 2+$211
Rewards on spending$211 / $211Fees (taken off the end)-$0 / -$0
No annual fee
Year 1Year 2Year 3
Earn rate by category
1%
Groc
Groceries
0.5%
Dine
Dining and takeout
1%
Gas
Gas and EV charging
0.5%
Air
Flights
0.5%
Hotel
Hotels and car rentals
1%
Transit
Transit and rideshare
1%
Stream
Streaming
0.5%
Drug
Drugstores
0.5%
Online
Online shopping
1%
Bills
Phone, internet and utilities
0.5%
Other
Everything else
Why it's ranked here
Ranked #11 of 11. By 3-year value on the couple preset's spending. Over 3 years it's worth $632 after fees.
Year 1. $211 = rewards $211.
Each year after. $211 = rewards $211.
Against #10. Trails RBC ION Visa by $70 over 3 years, mostly on welcome bonus (−$81).
Verified Oct 16, 2026Every term and assumption

All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.

Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.

Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.

More best-of lists

The ranking in numbers

Couple preset, $2,555 a month, after fees. "~" marks estimates.

Card	Year 1	Year 2+	3 years
Scotiabank American Express Card	$585	$485	$1,556
PC Financial PC World Elite Mastercard	$517	$467	$1,452
Simplii Financial Cash Back Visa	$531	$431	$1,393
Rogers Bank Red World Elite Mastercard	$460	$460	$1,380
Scotiabank Scene+ Visa	$393	$343	$1,078
Tangerine Money-Back Credit Card	$424	$324	$1,073
RBC Cash Back Mastercard	$374	$274	$922
TD Rewards Visa	$348	$272	$893
Scotiabank Momentum No-Fee Visa	$324	$224	$772
RBC ION Visa	$288	$207	$702

Frequently asked questions

What are the best no annual fee credit cards?

On couple spending ($2,555 a month), Scotiabank American Express Card ranks first: $585 in year 1 and $485 a year after fees.

How were these cards picked?

Cards with no annual fee ranked by 3-year value on a couple's spending. The order comes from the same calculation as the comparison tool, with the same tie-breakers; commission never changes it.

Will the order be the same for me?

Only if you spend like the preset. Spending more in a card's bonus categories moves it up. Set your own numbers in the tool to see your order.

Sources

Estimates for information only; not financial advice. See how cards are ranked.