Credit Cards With No Annual Fee And Cashback

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cashback credit cards

In this article, I’m going to list the top Canadian credit cards with a $0 annual fee and cashback. 

When it comes to credit cards, the choices available are many. Every financial institution in Canada offers multiple credit card choices – be it points cards, cashback, Airmiles, Aeroplan etc. Like I said the choices are many!

What I personally believe and have realized over time is that cashback credit cards are pretty straightforward in explanation and understanding the benefits. Also, as a consumer, I can see the cashback dollars almost immediately by logging into the banking app. This alone makes me feel good for the cashback dollars I’ve earned over time. 

Usually, with any of the points cards, we either need to call the bank (rewards team) or login to the bank’s reward sites to convert the points to actual rewards.

When converting from points to cash, the dollar amount keeps changing.

For example, when booking a flight on the TD Rewards website using the points you have, there may not be any blackout tickets as such, but the value of the dollar amount changes when you decide to book a long-haul flight/short duration flight (points required for the long haul flights work way better as compared to the short-haul flight tickets on converting points to $ amount)

To sum it up, the above scenario can be analyzed in two ways: 

  1. Either you are willing to wait to accumulate enough points and redeem them for the best purpose possible. But not many people are willing to wait for long, nor do they have all the time to do that. 

  2. Earn cashback dollars on every transaction you make using the credit card and redeem it almost immediately. 

The choice is yours!

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List Of The Best Canadian No Annual Fee and Cashback Credit Cards

Below is the list of the Top 9 cashback credit cards with a $0 annual fee: 

1. Tangerine World Mastercard

  • 2% Cashback in 3 Categories

  • 0.5% everything else

  • Money-back earning potential unlimited (no cap)

  • Insurance and Warranty and Wi-Fi

2. Simplii Financial Visa

  • 4% at Restaurants (up to $5000/Year)

  • 1.5% at Gas, Groceries, Drugstore and, Pre-Authorized Payments

  • 0.5% everything else

  • Insurance and Warranty

3. Walmart World Mastercard

  • 3% on Walmart.ca

  • 1.25% Walmart in-store and Gas

  • 1% everything else

  • Insurance and Warranty and Free Wi-Fi

4. BMO Cash Back Credit Card

  • 3% off on Groceries (up to $500/Month)

  • 0.5% everything else

  • Insurance and Warranty

5. Amazon MBNA Credit Card

  • 1.5% Amazon.ca (2.5% with Amazon Prime)

  • 1% everything else

  • 1% Cash-Back Foreign currency transactions (2.5% with Amazon Prime)

  • Insurance and Warranty

6. Rogers Platinum Mastercard

7. Brim Mastercard

8. SimplyCash Card From American Express

  • 1.25% on everything (No Limit)

  • 2.5% Cash Back for the first 3 months and $150 Welcome Bonus

  • Travel and Shopping Coverage

  • Eligible for the American Express Installment Program

9. Home Trust Preferred Visa

  • 1% on everything

  • No Foreign Transaction fees

  • Insurance

Thanks for reading, please let me know your thoughts and comments below. 

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