While fees are often associated with rewards cards, there are many No Fee American Express Cards in Canada that offer bonuses and rewards.
Paying an annual fee is sometimes worthwhile. Rewards and benefits can offset the card’s annual fee. However, many credit cards don’t cost anything to carry and still offer valuable rewards.
Here are three viable options if you are looking for a credit card with no annual fee.
1. SimplyCash Card from American Express
Key card details
- No annual fee
- Free supplementary card
- Insurance coverage
- 24/7 Customer Service
- Earn 4% cash back for the first six months (Up to $200)
- 19.99% purchase interest rate
- Apply through this secure link for a $20 rebate
SimplyCash Card by American Express is one of the best cash back credit cards on the market right now. And the best part is that it comes with no annual fee.
With this card, you’ll earn 4% cash back on purchases (up to $200 cash back) for the first six months of owing the card. After that, you’ll earn 1.25% on all other purchases with no limit.
Even though it isn’t a high-end card, it offers American Express Invites and Front of the Line advance ticket sales and reserved seating you can enjoy as a card holder.
That’s not all. The card also comes with three insurance benefits which are:
- Purchase protection
- Extended warranty
- And travel accident insurance so you can travel with confidence.
2. American Express Green Card
Key card details
- No annual fee
- Exclusive access to Amex cards benefits
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- 10000 MR points welcome bonus
- Apply through this secure link for a $20 rebate
The American Express Green Card earns valuable Membership Rewards points that you can redeem for several things, including travel, cash back, and gift cards. Holders of this card will earn 1x points on every eligible purchase.
When you charge $1,000 in purchases to your card in the first three months of card membership, you can earn 10,000 Membership Rewards points as a welcome bonus.
Furthermore, you will enjoy all the benefits of having an Amex card, such as Amex Offers, Front of the Line event presale tickets, and unique invitations to notable events in Canada.
3. American Express Essential Card
Key card details
- No annual fee
- 24/7 Customer Service
- 12.99% on purchases and cash advances
- Apply through this secure link for a $20 rebate
With this no annual fee American Express Essential Card, you enjoy an annual interest rate of 12.99% on purchases and cash advances. If you tend to carry a balance and make your minimum monthly payments on time, you can save on interest payments due to this card’s low interest rate.
What’s more? The card also offers three different insurance benefits for card holders, which include $100,000 in travel accident insurance, purchase, and extended warranty protection for your purchase. Not bad for a credit card with no annual fee.
In conclusion
Many want to minimize the number of non-essential fees we incur on our cards. As such, we tend to favor no-fee cards that don’t come with annual charges. That said, sometimes it pays to pay an annual fee. Cards that charge yearly fees typically have rewards and benefits that can offset the cost. The key is knowing how to weigh those costs against the benefits to make a sound decision about whether or not you should choose a no-fee card or one that charges an annual fee.