A no annual fee credit card means you don’t have to worry about paying hundreds of dollars every year to enjoy the basic protections offered by a credit card.
And considering that the top no-annual fee American Express Cards offer competitive rewards and benefits, getting one can be a no-brainer if you are in the market for a new credit card.
While Amex Cards are not as widely accepted as Visa or Mastercard, they are increasingly popular in Canada and often beat their competitors on the perks provided.
Read on to learn about the best no annual fee Amex credit cards and alternatives.
Best No Annual Fee American Express Cards
| Card | Annual fee | Best For | Welcome Bonus |
| SimplyCash Card from American Express | $0 | Cash back | $10 monthly statement credit for 10 months ($100 value) |
| American Express Green Card | $0 | General rewards | 10,000 points |
| American Express Essential Credit Card | $0 | Low interest rate | – |
1. SimplyCash Card from American Express
The SimplyCash Card from American Express is one of the best cash back credit cards in Canada.
For a no-fee credit card, this card also offers some interesting travel benefits, including a $100,000 travel accident insurance coverage.
- Annual fee: $0
- Best for: Cash back
Cardholders earn 2% cash back on gas and grocery purchases ($300 annual cash back limit at the 2% rate; 1.25% after) and 1.25% unlimited cash back on all other purchases.
You get access to exclusive offers with American Express, and this card comes with standard purchase protection and extended warranty coverage.
Learn more in this review.
SimplyCash Card from American Express
Rewards and benefits: Earn up to 2% cash back on gas and groceries; 1.25% cash back on all other purchases; travel accident insurance.
Welcome offer: Earn a $10 statement credit each month you spend $300 in purchases on your Card in the first 10 months (up to $100 value).
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Annual fee: $0
2. American Express Green Card
Formerly known as the Amex Choice Card, the American Express Green Card is a no-annual-fee credit card you can use to earn rewards.
- Annual fee: $0
- Best for: General rewards
Cardholders earn 1 point per $1 spent on everyday purchases and an additional point per dollar spent on bookings via Amex Travel Online.
You can easily transfer and convert your points on a 1:1 basis to other frequent flyer loyalty programs. You can also redeem your points for travel purchases, gift cards, purchases at Amazon.ca, and more.
This card comes with a standard extended warranty and purchase protection insurance coverage.
Learn more in this review.
American Express Green Card
Rewards: Earn 1x pts per $1 spent on all purchases.
Welcome offer: Get 10,000 bonus points when you spend $1,000 in the first 3 months.
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Annual fee: $0
3. American Express Essential Credit Card
The American Express Essential Credit Card is the third no annual fee Amex Card available in Canada. If you are looking for a low-interest credit card to save on interest fees, this card is worth checking out.
- Annual fee: $0
- Best for: Low interest rates
The 12.99% annual interest rate on purchases and cash advances is this card’s top feature, and you don’t earn points or cash back when you spend.
Also, cardholders benefit from $100,000 travel accident insurance and the perks available through American Express Experiences.
What To Look For in a No Annual Fee Amex Card
A no annual fee credit card will not provide all the VIP perks you would otherwise expect of a premium credit card.
That said, its offerings may be sufficient based on what you use your credit card for.
If you want to earn real cash back, the SimplyCash Card from Amex is a great option. It also includes benefits that often come in handy, like travel accident insurance.
Other factors to consider are the welcome bonus, basic insurance coverage, eligibility requirements, type of rewards, and interest rates.
Benefits of No Annual Fee American Express Cards
No fee American Express cards may offer these benefits:
- Competitive cash back earn rate or rewards
- Basic insurance coverage benefit
- No minimum income requirement
- Fraud protection guarantee
- 24/7 customer service
- Emergency card replacement
Downsides of No Annual Fee American Express Cards
The main downsides of no annual fee Amex cards are:
- Insurance coverage is limited
- Amex cards are not as widely accepted as Visa or Mastercards
No Annual Fee Credit Card Alternatives
In addition to the Amex cards listed above, you can also check the following top no annual fee credit cards in Canada.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is on many lists featuring Canada’s best cash back credit cards.
This card offers an impressive 20% cash back on purchases in 3 categories, and you earn 0.50% cash back on all other purchases.
More importantly, the cash back you can earn is unlimited, and it is paid out automatically each month.
The Tangerine Money-Back Credit Card also provides a 1.95% promotional balance transfer rate in the first 6 months.
If you have an annual income of $60,000 or higher, you could apply for the Tangerine World Mastercard instead and enjoy premium perks.
This card also has no annual fees.
Tangerine Money-Back Credit Card
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
Neo Financial Mastercard
The no-fee Neo Mastercard pays an average of 5% cashback at participating retailers and at least 1% cash back across all your purchases.
You can also pair your Neo Card with a savings account and earn a high interest rate on your deposits.
Cardholders earn up to 15% cash back when they make their first purchases at hundreds of stores, plus a $25 cash bonus when they sign up here.
Neo Mastercard (Standard)
Rewards: Average of 5% cash back at 10,000+ partners and a minimum of 0.50% cash back across all purchases
Welcome offer: Get 15% cash back on your first purchases, plus a $25 welcome cash bonus.
Interest rates: 19.99% – 26.99% on purchases; 22.99% – 28.99% for cash advances.
Annual fee: $0
Related: Best Buy Now Pay Later Plans.
