hey guys it's adrian here the canadian in a t-shirt and today i'll be breaking down the best
no fee cashback credit cards in canada for 2021. these cards are all free so they have no annual
fees but they still offer great cashback bonuses so there's no reason not to sign up for them these
cards are targeted towards canadians with lower incomes and modest credit scores so almost anyone
can get approved for them all the cards on this list have an income requirement of $15,000 or less
so they are perfect for beginners i'll be making a separate video on the best no fee credit cards for
high income earners so that's where you'll see the world elite mastercards which require an income
of eighty thousand dollars in the meantime check out my previous videos in my canadian credit card
playlist where i go over the best premium cashback cards in canada for big spenders as well as the
seven canadian cashback cards i use every day to maximize my overall cashback so click the pop-up
at the top right to check out those videos but no matter your income having a good credit score is
very important if you want to improve your credit score check out my video on the basics of credit
scores in canada and how to improve your credit in seven steps so click the pop-up at the top right
and then come back to this video as always these cards are a great way to earn extra money with
cashback but only spend what you can afford the cards on this list can give you up to four percent
in cashback but that's nothing compared to the 20% of interest that will be charged against you if
you can't make a payment so be smart control your spending and always pay your credit card bills in
full so with that let's jump into the best no fee cashback credit cards in canada starting at the
top we have the american express simply cash card this card takes the lead because one it looks cool
and two because of its simplicity it offers 1.25% cashback on every single purchase you make other
cards on this list can offer two or three percent cashback but only on certain types of expenses
like groceries but with this card you're getting a 1.25% discount on everything you buy that's one
of the best all-around cashback rates out there the only cards that can beat it either come with
a $100 annual fee or require an income of eighty thousand dollars like the rogers world elite
so for a no fee low income credit card this 1.25% cashback is incredible to make this card even
better if you click my referral link in the box below you'll get a 2.5% promotional cashback rate
on every purchase you make for the first three months or the first six thousand dollars you spend
whichever comes first american express is one of the only credit cards in canada that offers a
referral program every time you refer this card to a friend you'll receive fifty dollars in cash back
up to seven hundred fifty dollars a year that's free money for you plus your friend gets to enjoy
that two point five percent sign up bonus the cash back for amex is paid out once a year in september
this card also comes with great benefits like front of the line access this allows you to buy
tickets for concerts and sporting events three to five days before they go on sale to the general
public i use my american express every time i go to a concert to avoid being sold out this card
used to require an income of $15,000 but last year they removed this income requirement entirely this
makes it perfect for anyone to qualify for especially those with lower incomes but if
you are a big spender you might want to consider the big brother the american express simply cash
preferred card this card offers a two percent cash back bonus on everything but it does come
with a $99 annual fee i've talked about this card in detail in my video on the best premium credit
cards in canada so click the pop-up to check that out here's an easy way to decide between the two
if you spend more than thirteen thousand dollars a year then go for the big brother the simply
cash preferred card to get that higher cash back rate but if you spend less than thirteen thousand
a year stick to the little guy the simply cash card you'll still earn a fantastic 1.25%
cashback without any annual fees and just a heads up not all vendors in canada accept american
express all the big stores like walmart best buy and sobey's they'll all accept american express
with the exception of costco and loblaws but some smaller shops might not so just to be safe
always carry a visa or mastercard with you at number two we have the BMO cashback mastercard
i don't actually own this credit card but it looks something like this this card offers a whopping 3%
cashback on groceries that's incredible and better than most premium credit cards with an annual fee
the BMO card has no annual fee and still gives you an amazing 3% cashback on every purchase in
a grocery store however you are limited to $500 a month on groceries to get this 3% rate
any groceries above $500 a month will only get you 0.5% percent cashback this card also offers
1% cashback on recurring bills so that includes your cell phone internet netflix and utilities
all other purchases will only get you 0.5% cashback but the main focus with this card is groceries
depending on your area walmart super centers might be considered a grocery store and so
you get 3% cashback unfortunately costco is not considered a grocery store and so you'd only
get 0.5% at costco but this is a mastercard so at least this card will still be accepted at costco
as a signup bonus this card will offer a five percent promotional cashback rate for the first
three months or the first two thousand dollars spent this is an extremely generous signup bonus
especially for a no fee card so definitely take advantage of it most cards pay out their cashback
only once a year but with the BMO mastercard you could redeem your cashback anytime you want
as long as you have a balance of at least one dollar that's a great feature this card requires
an income of fifteen thousand dollars so it's a great option for beginners or anyone who spends
a lot on groceries BMO also offers a student version of this card it's identical in every way
but it allows students to get approved even if they don't meet that fifteen thousand dollar
income requirement i'll be making a whole video on the best student credit cards but
this BMO mastercard will definitely make that list at number three we have the Simplii financial
cashback visa this is another specialized card but instead of targeting groceries it focuses
on restaurants this card has no annual fee and it offers a whopping 4% cashback on restaurants
bars and coffee shops even cards with annual fees can't beat this cashback so i would recommend
this card to anyone even if you only use it at restaurants an important point is that this four
percent cashback is limited to an annual spend of five thousand dollars so if you spend more than
five thousand dollars a year on restaurants the cashback rate will drop to zero point five percent
however that five thousand dollar limit is $416 a month on restaurants so hopefully you're not
eating out that much this card also offers 1.5% cashback on groceries gasoline monthly bills
and drugstores everything else only gets 0.5% cashback but you should be using other cards
on this list for those expenses to make this card even better they're offering a signup bonus of 10%
cashback on restaurants bars and coffee shops for the first four months or the first $500 spent
the cashback from Simplii will be paid out once a year in december this card requires
an income of $15,000 to qualify but you'll also need to open up a checking account with Simplii
financial the good news is that this is a no fee checking account and it's one of the best online
checking accounts in canada right now there's no monthly fees and no minimum balances so
there's no reason not to open an account and if you use my referral link in the box below
you'll receive a $50 cash sign up bonus when you open your checking account with at least $100
then you can apply for the Simplii visa card to get that 10% bonus cashback rate as well
at number four we have the tangerine money back mastercard this card offers flexibility
and allows you to customize your cashback rewards based on your spending habits this tangerine card
offers you two percent cashback on purchases you make in three out of the following categories
groceries monthly bills gasoline furniture drugstores restaurants home improvement
hotels entertainment and public transit and parking you get to choose three out of these ten
categories and you'll earn two percent cash back on those purchases everything else will only get
you 0.5 percent cashback this card is really cool since you can customize it to fit your spending
habits if you don't have a car then skip the gasoline category and choose entertainment instead
to get the most out of your cashback i suggest scratching groceries and restaurants off the list
since you could use the BMO card to get three percent on groceries and the Simplii visa to get
four percent at restaurants now just choose three other categories and you'll get two percent cash
back with the tangerine card technically this card only allows you to choose two spending categories
but if you choose to deposit your cashback money into a tangerine savings account they'll let you
pick a third spending category to get that two percent cash back on so definitely take
advantage of this their savings account is also great and totally free so there's no downside at
all and the cashback from Tangerine is paid out every single month which is a great feature this
is one of the best cashback cards out there and it only requires an income of twelve thousand dollars
so those are the best no fee cashback credit cards with low income requirements in canada let's do a
quick summary of each of their benefits and figure out which combination of cards works best for you
i'm only going to summarize the best features of each card to help you pick the best one
the american express simply cash card offers a flat rate of 1.25% cashback on every single
purchase the BMO mastercard offers 3% cashback on groceries the Simplii financial visa card offers
4% cashback at restaurants bars and coffee shops and the tangerine mastercard offers you 2% cashback
on your choice of 3 out of 10 spending categories all these cards are free so you can choose one of
them or you can choose all four of them but here's how you can maximize your total cashback when
buying groceries use the BMO card to get three percent cashback for restaurants use the Simplii
visa card to get four percent cashback pick three categories other than groceries and restaurants
that you spend the most amount of money on and then use the tangerine card on these categories to
get two percent cash back and then for everything else use the american express to get 1.25 percent
so there you have it those are the best no fee cashback credit cards in canada for 2021.
i've included a link in the box below for each credit card if you'd like to apply for them
none of these cards have annual fees so there's really nothing to lose with having these cards
there's only free cashback money to gain these are cards that you can keep and hold onto for
life there's no fees and so there's no reason to ever cancel these cards use them and day
by day you'll be earning yourself free money with cashback and you'll be building your credit score
along the way thanks for watching guys and be sure to like comment and subscribe if you found
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thanks everyone and i'll see you guys on the next episode of the canadian in a t-shirt bye guys