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While most prestigious credit cards are expected to come with an annual fee, there are still many cards out there that offering benefits with no annual fee. Ideally, a credit card with no annual fee is preferred over those that do charge because it cuts down on the cost of carrying credit. If you’re a consumer that carries credit close to the credit limit you definitely want to avoid annual fee credit cards so you don’t find yourself paying an over-the-limit fee.
As part of our continuing resource list, we wanted to list off the best credit card deals with no annual fee by category.
Cash Back Credit Cards With No Annual Fee
The best cash back credit cards should offer at least 1% or 1 point on all purchases with an amped up rewards potential on certain category purchases. Your rewards also should never expire or have a cap on the amount you can earn each year shouldn’t be less than $1,000 per category.
Citi® Double Cash Card – 18 month BT offer: Citi has made a game changer with the Double Cash credit card. This card is unique because you can earn cash back twice; earn 1% back on purchases, and an additional 1% back when you pay! This gives cardholders the freedom to earn rewards every day for doing things that people normally do; making purchases and paying bills. With no category restrictions, no caps, or no enrollments in rotating categories, this card earns cash back minus the inconvenience for the cardholder.
Chase Freedom®: Chase really nailed it when they created this rewards credit card. Chase Freedom has long been considered one of the best rewards credit cards, earning cardholders an average of $412 per year. New cardholders can earn $150 cash back after making $500 in purchases in the first 3 months. Cardholders will enjoy 5% cash back all year long on net purchases in popular rotating categories and earn 1% cash back on all other purchases.
Discover it® Cashback Match™: Like Chase Freedom, Discover It will earn card members 5% cash back on certain categories of purchases that rotate every quarter and also 1% cash back on all other purchases. Something Discover provides is the added earnings potential for their card members when they shop through the Discover Online Shopping Mall. Cardholders can receive additional cash back bonuses by shopping exclusively through their online shopping mall. *All Discover cards come with no annual fee.
Travel Rewards Credit Cards With No Annual Fee
Travel rewards credit cards generally earn you miles or points that can then be redeemed for travel. The best travel rewards cards will come with no foreign transaction fees.
Capital One® VentureOne® Rewards Credit Card: This travel rewards cards is another favorite of mine because it earns card holders 1.25 miles per dollar spent. Frequent travelers will love that there’s no foreign transaction fees, no limit to the number of miles you can earn and miles don’t expire. For those who would like to earn 2 miles per dollar on each purchase, check out the Capital One® Venture® Rewards Credit Card that comes with an annual fee of $59 after the first year.
Chase Sapphire Preferred® Card: Another great product offered by Chase, this card is geared towards the frequent traveler. There’s no intro APR like Chase Freedom and Chase Slate offer, but it does come with a great bonus for new card members. New Chase Sapphire Preferred card holders can earn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. Their rewards program will earn you 2X points on dining at restaurants, earn 1 point per dollar spent on all other purchases, and points don’t expire. The annual fee is $95, but it's waived the first year.
0% APR Credit Cards With No Annual Fee
Low interest is one of the most sought-out features when shopping for a new credit card. Card holders can save even more money by getting a 0% APR credit card with no annual fee.
Chase Slate®: This is my favorite balance transfer credit card. It’s currently the only card on the market that comes with an intro APR of 0% for 15 months after opening account on both purchases and balance transfers, but Chase late also waives the balance transfer fee for the first 60 days of account opening. If you have high-balance APR credit cards or other applicable accounts, this offer is simply one you can’t pass up. The ongoing APR is 13.24%-23.24% Variable.
Citi Simplicity® Card - No Late Fees Ever: This card is currently offering one of the longest 0% APR with a duration of 21 months on both balance transfers and purchases. That gives the cardholder a year and a half to pay their balance off without paying any interest. After the intro period the APR is 13.24% - 23.24%* (variable).
Additional Cards with No Annual Fee
|Credit Card||Annual Fee Year 1||Annual Fee After 1st Year|
|The Amex EveryDay Credit Card from American Express||$0||$0|
|Premier Rewards Gold Card from American Express||$0||$195|
|BankAmericard Better Balance Rewards||$0||$0|
|BankAmericard Cash Rewards Card||$0||$0|
|BankAmericard Travel Rewards Card||$0||$0|
|BankAmericard Visa Card||$0||$0|
|Barclaycard Rewards MasterCard (for average credit)||$0||$0|
|Barclaycard Ring Card||$0||$0|
|Blue Cash Everyday Card from American Express||$0||$0|
|Blue Sky Card From American Express||$0||$0|
|British Airways Visa Signature||$0||$95|
|BuyPower Card from Capital One||$0||$0|
|Capital One Platinum||$0||$0|
|Citi Diamond Preferred||$0||$0|
|Citi Hilton HHonors Visa Signature Card||$0||$0|
|Citi / AAdvantage Platinum Select MC||$0||$95|
|Citi ThankYou Preferred Card||$0||$0|
|Citi ThankYou Premier Card||$0||$95|
|Journey Student Rewards from Capital One||$0||$0|
|Marriott Rewards Premier||$0||$85|
|NFL Extra Points Credit Card||$0||$0|
|U.S. Bank Flexperks Travel Rewards Visa Signature||$0||$49|
|U.S.Bank Visa Platinum||$0||$0|
|United Mileage Plus Explorer Card||$0||$95|
|Williams-Sonoma Visa Signature||$0||$0|
For those interested in a business credit card with no annual fee, be on the lookout for our next resource list.
*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.