Personal Finance

What is the best no fee cash back credit card?

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  • May 20th, 2015 5:52 pm
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[OP]
Member
May 21, 2014
418 posts
59 upvotes
Toronto, ON

What is the best no fee cash back credit card?

All of the major banks seem to have up to 1% based on how much you spend. However, I want to earn at least 1% or more on every dollar i spend.
22 replies
Deal Addict
Jan 8, 2006
1627 posts
904 upvotes
With no fee it's going to hard. I have TD Rebate Rewards for fist $3000 it's 0.05% after that 1%. They don't offer this one anymore !
Deal Addict
Oct 12, 2006
1450 posts
301 upvotes
Markham
wserib wrote: All of the major banks seem to have up to 1% based on how much you spend. However, I want to earn at least 1% or more on every dollar i spend.
Personally, I use this one -> Scotiabank Momentum Infinite visa. It does have a $99 annual fee, but it's waived for the first year, and there's currently a promotion that can get you a $100 gift card.
Sr. Member
Aug 14, 2013
548 posts
51 upvotes
Montreal, QC
BMO is going to have new 1%, no-fee, no tier, no limit, cashback cc.
Maybe other banks will follow very soon.
Member
Nov 13, 2003
236 posts
171 upvotes
Vancouver, BC
I have this: https://www.chase.com/online/canada/amazon-ca-home.htm

1% cash rebate. 2% rebate for purchases at amazon.ca (not amazon.com). No fee. No-tier. No foreign exchange fee. $20 amazon.ca credit on approval.

You get rebate credit everytime you've accumulated $20.

The main benefit of this card is the no foreign exchange fee. It is great for use in shopping in states.

I think the MBNA Smart Cash is better in general though unless you are hitting the limit or you prefer Visa over MC.
Deal Fanatic
Aug 3, 2014
5953 posts
4014 upvotes
Amazon.ca Rewards
Capital One Vibe
MBNA Smart Cash

Check them out and you decide which one is best for you.
Newbie
May 3, 2015
3 posts
1 upvote
Toronto, ON
enigma0t2 wrote: Personally, I use this one -> Scotiabank Momentum Infinite visa. It does have a $99 annual fee, but it's waived for the first year, and there's currently a promotion that can get you a $100 gift card.
I would go with this card and then call after a year and see if they will waive the fee again, if they won't, then cancel go with MBNA. I have an old MBNA card that is 2% cash back on all purchases (It's their rewards points that I redeem for a statement credit at a 2% equivalent). It had an annual fee but they gave it to me with the annual fee waived indefinitely when I called to cancel a different card with an annual fee.
Member
Dec 8, 2006
369 posts
24 upvotes
My opinion is:

1. MBNA Smart Cash
2. Capital One Aspire Cash
3. Royal Bank cash back.

If you spend more than $470/month in gas/groceries, the Scotia Momentum will come out on top even after the annual fee (for 2 cards).

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Sr. Member
Mar 3, 2015
699 posts
95 upvotes
Scarborough, ON
scotia momentum visa
rbc mastercard

Amex no fee comes on top but not many places accept amex.
Deal Addict
Apr 13, 2015
1108 posts
214 upvotes
Capital One Aspire cash + Scotia Amex gold.

Between the two I'm earning an average of 1.75% for my personal spending.

Amex : food, fuel, entertainment 4%
Aspire: 1% on everything .
Deal Addict
User avatar
Jan 19, 2005
4992 posts
2212 upvotes
Vancity
Amex @ 1.25% (5% for groceries/gas/restaurants for the first 6 months)
Cap1/MBNA MC @ 1.0% for everything else not taking Amex.
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Deal Addict
Aug 31, 2014
1505 posts
560 upvotes
YVR, BC
MBNA Smart Cash
RBC C/B M/C
Scotia Momentum Visa no fee.
Sr. Member
Aug 14, 2013
548 posts
51 upvotes
Montreal, QC
I dont see any usefulness about Scotia Momentum No-Fee Visa, I have it as well, but it sleeps in my drawer.
604nation wrote: MBNA Smart Cash
RBC C/B M/C
Scotia Momentum Visa no fee.
Deal Addict
Aug 31, 2014
1505 posts
560 upvotes
YVR, BC
MrAmex wrote: I dont see any usefulness about Scotia Momentum No-Fee Visa, I have it as well, but it sleeps in my drawer.
I needed 3....it's last of my 3, I think the $99/ first year waived is better but hey WTH.
Deal Addict
User avatar
Aug 3, 2009
2203 posts
657 upvotes
Nova Scotia
Use MBNA Smart Cash myself and was hoping for another sign up promo where you get 5% on groceries and gas up to $400/mo for 6mos. Have done one almost every spring but still nothing (usually $100 or something).

Paid version of the Scotiabank Momentum Visa I think only gives cash back in December annually.
Deal Addict
Feb 10, 2013
4532 posts
1090 upvotes
Richmond
comp_freak wrote: With no fee it's going to hard. I have TD Rebate Rewards for fist $3000 it's 0.05% after that 1%. They don't offer this one anymore !
are you living under a rock?
Member
User avatar
Oct 9, 2014
397 posts
49 upvotes
Winterpeg
comp_freak wrote: I use mostly TD visa.
he says that because your rewards card is probably one of the worst out there compared to the other options for no-fee cash back
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User avatar
Mar 31, 2009
1202 posts
829 upvotes
If I didn't have my grandfathered cap one aspire cash world no fee card, I'd probably use the Amex 1.25% card. I think that's the best without a fee. I'd probably use the cap one aspire cash 1% card at places that didn't take amex. The cap one cashback system is much better than MBNA. It's nice to just be able to apply your cashback against your current bill whenever you want, regardless of what amount you have on the card. So I prefer cap one over MBNA.

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