Loan

Oct 11 2017

Best No Fee Credit Cards in Canada #travel #credit #card #no #annual #fee

#

Best No Fee Credit Cards in Canada

Annual fee: Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don t mind paying an annual fee, select I don t mind. If you d prefer not to pay to use a credit card, select None. Income: Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Rewards: What type of rewards do you want to earn for every dollar you spend? Is cash back important to you? Would you prefer gift cards or store credit? What about free flights and hotels? Think about what s most important to you and what would help your budget the most, then look for the best cards to offer that reward. Network: Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you d prefer, or select All if you don t have a preference.

Bank/issuer: There are a number of lenders and companies that issue credit cards – and they aren t just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. My card is for: There are generally three types of people who use credit cards: individuals, students and businesses. If you are an individual who uses their credit card for daily living expenses, select Personal. If you are in school and on living on a tight budget, select Student. And if you are someone who uses a credit card to pay for business expenses, select Business. Rewards program: There are many different credit card reward programs available. If you have a preferred reward program, such as Aeroplan Miles, select your choice using the dropdown. Note that each card only uses one reward program. Monthly spending: Enter the dollar amount you spend each month on your credit card. Edit your monthly spend by each spending category in the monthly spending by category tab below.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Annual fee: Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don t mind paying an annual fee, select I don t mind. If you d prefer not to pay to use a credit card, select None. Income: Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Credit balance: Do you carry a balance on your credit card each month? This isn t how much you spend on your card, but how much you typically carry over into a new month. If so, write that amount here, so we can calculate how much interest you ll be charged.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Bank/issuer: There are a number of lenders and companies that issue credit cards – and they aren t just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. My card is for: There are generally three types of people who use credit cards: individuals, students and businesses. If you are an individual who uses their credit card for daily living expenses, select Personal. If you are in school and on living on a tight budget, select Student. And if you are someone who uses a credit card to pay for business expenses, select Business. Network: Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you d prefer, or select All if you don t have a preference.

Annual fee: Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don t mind paying an annual fee, select I don t mind. If you d prefer not to pay to use a credit card, select None. Income: Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Network: Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you d prefer, or select All if you don t have a preference.

Bank/issuer: There are a number of lenders and companies that issue credit cards – and they aren t just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. Transfer amount: If you are currently carrying a balance on another credit card, you may want to take advantage of a balance transfer promotional offer with one of the credit cards listed below. Enter the amount you would transfer to the new card, to find out what the promotional interest rate and period are.

Update results

Hit enter or click outside the box to refresh your results Dismiss

Annual fee: Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don t mind paying an annual fee, select I don t mind. If you d prefer not to pay to use a credit card, select None. Network: Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you d prefer, or select All if you don t have a preference.

Bank/issuer: There are a number of lenders and companies that issue credit cards – and they aren t just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks.

Monthly spending by category

If you need any help comparison shopping, read our frequently asked questions below:

What is a no fee credit card?

Most rewards credit cards require the cardholder to pay an annual fee, typically in the $99-120 range. No fee credit cards, however, have no annual fee. As a result, they also typically have fewer (if any) rewards. It’s as simple as that!

Why should I get a no fee credit card?

The benefit of a no fee credit card is obvious: there is no annual fee. It’s a great option if you don’t use credit cards often, but still want one to pay for online purchases, as well as to build your credit history in Canada. There’s no point paying money for something you’re not using or earning rewards from; no fee credit cards exist to serve that niche of credit card users.

What are the drawbacks of no fee credit cards?

While no fee credit cards can be a great choice for some people, they come with little to no rewards or free add-ons (such as insurance, etc.). If you plan on using your credit card for everyday purchases, you could see a greater benefit from using a rewards credit card that collects points with every purchase you make. It’s also important to remember that although you don’t have to pay an annual fee to use these cards, regular interest charges (typically at 19.99%) and other credit card fees still apply.

Do any Canadian no fee credit cards offer rewards?

As you’ll see in the chart above, yes, some of the best no fee credit cards offer rewards. However, the value of the points is typically much lower than regular rewards credit cards, so it may take you a while to earn anything – especially if you don’t use your card often.

Other Types of Credit Cards


Written by admin


Leave a Reply

Your email address will not be published. Required fields are marked *