No-fee credit cards can offer great value and benefits without the burden of annual fee. Below is a curated list of no-fee credit cards that cater for different spending habits:

Best for dining and restaurant – Simplii Cashback Visa

Simplii Cashback Visa earns 4% cashback on the first $5,000 in net annual card purchases on restaurant, bar and coffee shop purchases. After $5,000, the earn rate is 0.5%.

Best for grocery – BMO Cashback Mastercard

BMO Cashback Mastercard earns 3% cash back on Grocery Store purchases up to a maximum of $500 spent per statement cycle period. After $500 Grocery Store purchases per statement cycle, the earn rate is 0.5%.

Best for gas – Tangerine Mastercard

Tangerine Money-Back and World Mastercards offers unlimited 2% cashback on up to 3 categories of your choice, including Gas. Purchases outside of you 3 selected categories earn 0.50% cashback.

Best for travel insurance – Roger World Elite Mastercard

Rogers World Elite Mastercard is probably the only no-fee credit card that provides travel insurance benefits:

• Out-of-Province/Out-of-Country Emergency Medical covers trips up to 10 days for most cardholders. However, it also provides coverage for trips up to 3 days for cardholders aged 66 to 75.
• Trip Interruption: Up to $1,000 per person per trip ($5,000 per account)
• Trip Cancellation Up to $1,000 per person per trip ($5,000 per account)

Insurance benefits cover the primary cardholder, their spouse and dependent children. Additional cardholders are also insured, although their spouse and children are not.

Additional benefits provided by Rogers World Elite Mastercard:

• 1.5% unlimited cash back on all eligible purchases in Canada
• 3% unlimited cash back on all eligible purchases made in U.S. dollars. Considering there is 2.5% fx fee, it nets 0.5% cashback.
• Extended Warranty and Purchase Protection
• Rental Car Collision/Damage

Rogers World Elite Mastercard does require $15,000 annual spend to maintain World Elite status.

Best for roadside assistance – Triangle World Elite Mastercard

Triangle World Elite Mastercard is one of a few no fee credit cards that provide roadside assistance. It provides primary card holder with Roadside Assistance Gold Plan (worths $97.74+ per year) that includes free 5 service calls throughout the year:

• tow to any destination of your choice up to 200 km per service call. Unlimited two to a Canadian Tire Auto Service Centre for up to 200 km, which doesn’t count against your free 5 service calls when you receive auto service
• flat tire change
• battery boost
• lockout service
• fuel deliver

Additional benefits provided by Triangle World Elite Mastercard:

• Earn 3% in CT Money on Grocery Stores purchases
• Earn 4% in CT Money on purchases in Triangle – affiliated stores
• Collect 7¢ per litre in CT Money on premium fuel, and 5¢ per litre on all other fuel types when you fill up at Gas+ and Husky locations.
• 3% unlimited cash back on all eligible purchases made in U.S. dollars. Considering there is 2.5% fx fee, it nets 0.5% cashback.
• Extended Warranty and Purchase Protection
• Rental Car Collision/Damage

Best for balance transfer – MBNA True Line Mastercard

MBNA True Line Mastercard is one of the best credit cards with balance transfer promotion with 0% promotional annual interest rate for 12 months on balance transfers completed within 90 days of account opening at 1%-3% balance transfer fee. After the promotion period ends, a 12.99% standard interest rate applies. Given the current high interest rate prime = 7.2%, even 3% transfer fee is still a great deal.

If you pay off your balance right before the promotion period ends, you will likely to receive another balance transfer promotion in a couple of months. It is also handy to have multiple cards that offer 0% promotional annual interest rate so that you can do balance transfer back and forth among them. Tangerine Mastercard and Roger Mastercard also frequently have 0% promotional balancfe transfer.

Best for foreign transaction – Home Trust Preferred Visa

Home Trust Preferred Visa is one a few credit cards in Canada that offer no foreign exchange fee on foreign transaction. For foreign purchases, exchange rate will be set by Visa at the time of transaction. Most credit cards typically charge 2.5% foreign exchange fee.

Best with annual travel credit – National Bank World Elite Mastercard

Although National Bank World Elite Mastercard has $150 annual fee, it provides $150 travel enhancement credit, effectively making this card zero annual fee and one of the best card to keep long-term. Eligible enhancement expenses include:

• airport parking fees
• baggage fees
• seat selection fees
• access to airport lounges worldwide
• airline ticket upgrades

It also provide superior benefits:

• Extended warranty: Get up to triple the manufacturer’s warranty for most items purchased, for up to 2 additional years. Most credit card with extended warranty only offer 1 additional year.
• Enjoy up to 60 days’ coverage with our travel, trip cancellation/interruption, baggage loss and car rental insurance
• Earn up to 5 points per dollar in eligible grocery and restaurant purchases. Earn 2 points per dollar in eligible gas and electric vehicle charging purchases, recurring bill payments

National Bank World Elite Mastercard often has 70,000 points welcome bonus, so do check before you sign up!