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The Best RBC No Fee Credit Cards in Canada for 2024

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Fact Checked

The Royal Bank of Canada (RBC) offers several no-annual-fee credit cards you can use to earn rewards and cash back in Canada.

While a no-fee credit card does not sound as exciting as a premium or metal credit card, it might just be adequate for your needs.

And in some cases, no-fee cards beat or match their more expensive counterparts on the rewards and convenience they offer.

This article covers the top RBC no-fee credit cards for 2024 and alternatives you can consider.

Best RBC No Annual Fee Credit Cards in Canada

The 5 RBC credit cards that meet our top picks requirements include:

  • RBC Cash Back Mastercard
  • RBC ION Visa Card
  • RBC RateAdvantage Visa
  • RBC Visa Platinum
  • RBC Business Cash Back Mastercard

RBC Cash Back Mastercard

RBC Cash Back Mastercard

Entry-level RBC cash back card

Annual fee: $0

Rewards: Earn up to 2% cash back on high-spend categories.

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Minimum income requirement: $0

Recommended credit score:
660
900

Good

On RBC’s website

  • Earn up to 2% cash back on grocery store purchases.
  • Earn up to 1% cash back on all other eligible purchases, including recurring payments.
  • Save 3 cents per litre on fuel and earn 20% more Petro-Points at Petro-Canada.
  • Earn extra Be Well points at Rexall when you link your card with your Be Well card.
  • Save on delivery fees through Doordash with a complimentary three-month DashPass subscription.
  • Access purchase security and extended warranty insurance for up to 90 days after making a purchase.

No annual fee

Unlimited cash back

Competitive purchase APR at 19.99%

Limited travel benefits

Limited insurance benefits

The RBC Cash Back Mastercard offers competitive rates and a strong cash back program. With no annual fee, it’s a great card for those just starting out or those looking to build their credit score.

The RBC Cash Back Mastercard is an entry-level credit card offering up to 2% cash back on purchases, with a maximum of $6,000 spending per year and 1% on grocery spending after this threshold is reached.

For all other purchases, cardholders earn 0.50% cash back.

RBC credit cardholders can link their card to a Petro-Points account and save 3 cents per litre when they pay for gas with the linked card at Petro-Canada locations.

You can redeem cash back earned when your balance is $25 or more. Get more details in this RBC Cash Back Mastercard review.

RBC ION Visa

RBC ION Visa

Entry-level RBC rewards credit card

Annual fee: $0

Welcome offer: Get 3,500 bonus Avion points following approval.

Rewards: Earn 1.5x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Minimum income requirement: None

Recommended credit score:
660
900

Good or better

rbc ion visacard-img

On RBC’s website

  • Earn 1.5 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
  • Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
  • Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
  • Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
  • Get a 3-month complimentary DashPass subscription, valued at almost $30.
  • Includes Purchase Security and Extended Warranty Insurance.

Competitive purchase APR at 19.99%

Attractive point redemption options

No minimum income threshold

Limited insurance benefits

The conversion rate for points is not as enticing

The RBC ION Visa is an excellent choice if you are a student or newcomer looking to get approved for a credit card with little to no credit history. It has no annual fees, and the Avion points you earn are easy to redeem.

RBC ION Visa is a newer credit card from the bank. It offers 1.5x Avion points per $1 spent on groceries, gas, public transit, streaming, digital gaming, and subscription purchases.

On all other purchases, you earn 1 Avion point per $1 spent.

You can redeem Avion points for gift cards, merchandise, travel, and as a statement credit.

The RBC ION Visa card includes purchase security and extended warranty insurance coverage.

Learn more in this detailed RBC ION Visa review.

RBC RateAdvantage Visa

RBC RateAdvantage Visa Card

Good low-interest credit card

Annual fee: $0

Rewards: N/A

Interest rates: 4.99%-8.99% + prime rate for purchases and cash advances.

Minimum income requirement: None

Recommended credit score:
760
900

Very Good

RBC RateAdvantage Visa Card

On RBC’s website

  • Low variable interest rate.
  • Get a lower rate with a better credit rating.
  • No annual fee and no fee for additional cards.
  • Personalized offers on top brands to earn bonus points or get cash savings.
  • Save 3¢/L on fuel and earn 20% extra Petro-Points at Petro-Canada.
  • Earn extra Be Well points when you shop at Rexall. 50 points for every $1 spent on eligible products.
  • Free deliveries with DoorDash for three months.
  • Includes extended warranty insurance and purchase security for additional protection.

No annual fee

Low-interest rate

Includes several perks

Few premium perks

Can only earn points on specific purchases

The RBC RateAdvantage Visa Card is designed for people looking for a low-interest credit card. Rather than providing one fixed rate, it rewards users by offering lower rates for people with better credit ratings. If you carry a balance and want to pay less, this credit card could be a suitable option, especially as you don’t have to pay an annual fee.

The RBC RateAdvantage Visa qualifies as a low-interest credit card based on its current interest rates for purchases and cash advances.

While this card does not offer cash back rewards on everyday spending, it does include standard purchase security and extended warranty coverage.

RBC Visa Platinum

  • Annual fee: $0
  • Interest rate: 19.99% on purchases: 22.99% on cash advances

The RBC Visa Platinum includes travel insurance benefits like travel accident and car rental insurance, along with the standard purchase protection and extended warranty.

Cardholders also get access to 24/7 emergency travel assistance.

Like the RBC RateAvantage Visa, the RBC Visa Platinum card does not offer cash back rewards on everyday purchases outside of the default offers at Petro-Canada and Rexall.

RBC Business Cash Back Mastercard

  • Annual fee: $0
  • Interest rate: 19.99% on purchases; 22.99% on cash advances

This RBC business credit card has no annual fee.

It offers 1% cash back on purchases, with a maximum cap of $650 in cash back earnings annually.

The RBC Business Cash Back Mastercard also includes purchase security and extended warranty coverage.

No Annual Fee Credit Cards Explained

A no-annual-fee credit card means you won’t have to pay a monthly or annual fee to use the card and keep your account open.

Compared to premium cards with fees as high as $699 per year, no-fee credit cards have a $0 annual fee.

That said, we should note that a no-fee credit card does not mean you won’t pay any fees.

Interest fees will still apply to balances you carry beyond the 21-day grace period. Other fees may also be charged, including:

  • Cash advance fees
  • Balance transfer fees
  • Foreign currency transaction fees

Pros and Cons of No Fee RBC Credit Cards

We have already highlighted the benefits of RBC’s no-annual-fee credit cards, including the lack of an upfront charge to use the card and benefits like free insurance coverage.

The cons of an RBC no-fee credit card include:

  • Limited rewards and benefits. You should not expect to earn consistently high cash back rates or get comprehensive insurance coverage.
  • These cards have other fees, and you will need to check your card’s agreement document to see which fees are applicable.

Best No Annual Free Credit Cards in Canada

These no-annual fee credit cards are worth checking out when looking for alternatives to the no fee RBC Credit cards listed above.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is one of the best no-fee credit cards in Canada.

It offers up to 2% unlimited cash back in 2-3 categories of purchases and 0.50% cash back on all other purchases.

This card also includes purchase protection and extended warranty insurance benefits.

Cardholders can transfer their balance from other credit cards at a low 1.95% interest rate for 6 months.

Read our review: Tangerine Money-Back Mastercard review.

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 Neo Financial Mastercard is great for earning cash back rewards.

It offers an average of 5% cash back at more than 10,000 retailers and brands in Canada.

For non-partner purchases, cardholders earn a 0.50% cash back rate.

Learn more: Neo Mastercard review or apply below:

Neo Credit Card

Rewards: Average of 5% cash back at 12,000+ 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% – 29.99% on purchases; 22.99% – 31.99% for cash advances.

Annual fee: $0

SimplyCash Card from American Express

American Express has a few no-fee cards in its stable.

The SimplyCash Card from Amex offers 2% cash back on groceries and gas purchases ($300 annual cashback limit & 1.25% after) and 1.25% cash back on all other purchases, with no limits.

In addition, cardholders enjoy travel accident insurance purchase protection and extended warranty insurance.

Learn more: SimplyCash Card from Amex review or apply below.

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: NA

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Annual fee: $0

Tangerine World Mastercard

If you have a personal annual income exceeding $60,000, you can apply for the no-fee Tangerine World Mastercard and earn up to 2% cash back on purchases.

This mid-tier card also comes with mobile device insurance, free global Wi-Fi via Boingo, and car rental insurance.

Learn more: Tangerine World Mastercard review or apply below.

Tangerine World Mastercard

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases; VIP perks.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

Related:

Best Credit Offers in March 2024

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Earn 2.25% interest on your entire balance.*

Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

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