No annual fee credit cards can save you a lot of money, in the long run, more than reward cards. Most cards that offer the best rewards charge a high annual fee; meanwhile, you need to spend on eligible purchases to earn rewards, and whether you were able to qualify for the rewards or not, you still pay annual fees.
In choosing a credit card, going for no annual fee credit cards not only save you a lot and the cards also come with other perks. You don’t need to change your lifestyle just because you want to apply for no annual fee credit cards, it’s actually easy to find a card that suits your lifestyle as you will discover in the list below;
01 Best for 5% Rewards: Chase Freedom | No Annual Fee Credit Cards
Chase Freedom is one of the most popular rewards credit cards. As a new cardholder, you can earn a $150 cash bonus after spending $500 on purchases within the first three months of opening your account. You can meet that by spending about $167 on credit card purchases each month. Balance transfers and cash advances don’t earn rewards.
You’ll earn five percent cash back on up to $1,500 in combined purchases in bonus categories each quarter. The bonus categories rotate each quarter and you have to signup to earn the five percent rewards. All other purchases earn one percent cash rewards. Your purchases earn points that you can redeem for cashback as a statement credit to your account.
Important Pricing: You can also enjoy a zero percent introductory APR on purchases for the first 15 months for purchases or balance transfers. After that, the regular APR is 17.24 to 25.99 percent based on your credit history.
02 Best for Balance Transfers: Citi Simplicity | No Annual Fee Credit Cards
If you’re looking for a great no annual fee card to transfer a balance, the Citi Simplicity is a great option. It has one of the longest zero percent introductory periods – 21 months. The introductory rate applies to balance transfers and purchases. After the introductory period, the regular APR will be 15.99 to 25.99 percent based on your credit history.
The Citi Simplicity doesn’t pay ongoing rewards, which means you can focus on paying off your balance transfer balance without worrying about having to use your credit card to earn rewards.
03 Best for Small Business: Chase Ink Business Cash Credit Card | No Annual Fee Credit Cards
If you’re a small business owner, you probably spend a lot of money on your business each month. The Chase Ink Business Cash credit card allows you to earn $500 in cashback rewards after spending $3,000 on purchases in the first three months of opening your account. If you spend at least $1,000 each month on your business, meeting the minimum spending requirement will be very easy.
Ongoing, you’ll earn 2% cashback on the first $25,000 spent in combined purchases at gas stations and restaurants every year, which is easily done if you’re taking clients out for meals or on the road traveling to meetings. You’ll also earn 1% cashback on all other purchases.
Important Pricing: Enjoy a zero percent introductory APR for the first 12 months on purchases and balance transfers. After that, the regular APR is 15.49 to 21.49 percent based on your credit history.
04 Best for Troubled Credit: Capital One Secured MasterCard | No Annual Fee Credit Cards
Most no annual fee credit cards are designed for those with almost perfect credit histories. Finding a good no annual fee credit card is tough when you have bad credit. The Capital One Secured MasterCard is an excellent choice for rebuilding your credit. You obtain the credit card by making a security deposit against your credit limit. The security deposit is held until you close your credit card account. Capital One allows cardholders to make as low as a $49 security deposit for a $200 initial credit limit, as long as your credit history allows. Otherwise, you’ll make a $99 or $200 security deposit for the $200 credit limit.
And if you make your first five monthly payments on time, you’re automatically considered for a higher credit limit. The regular APR is 26.99 percent, which is pretty high, so make sure you pay your balance in full each month to avoid expensive finance charges.
05 Best for Everyday Shopping: Blue Cash Everyday from American Express | No Annual Fee Credit Cards
The Blue Cash Everyday from American Express credit card offers great rewards on the purchases you’re likely to make each day. Earn three percent cash back on purchases at U.S. supermarkets on up to $6,000 in purchases each year; two percent cash back at U.S. gas stations and select department stores, and one percent cash back on all your other purchases.
You’ll have the opportunity to earn a $150 sign-up bonus after you spend $1,000 on purchases in your first three months. The rewards bonus will be applied to your account as a statement credit.
Important Pricing: Enjoy a zero percent introductory APR on both purchases and balance transfers for the first 15 months. After that, the regular APR will be 15.24 to 26.24 percent based on your credit history.
06 Best for Travel: BankAmericard Travel Rewards Credit Card | No Annual Fee Credit Cards
Whether you’re a frequent traveler or just looking for a way to offset the cost of your next vacation, a travel rewards credit card is a must-have. The BankAmericard Travel Rewards Credit Card offers 25,000 bonus points if you make $1,000 in purchases within the first 90 days of opening your account. The bonus points can be redeemed for a $250 statement credit toward travel purchases made on your credit card.
Ongoing, you’ll earn an unlimited 1.5 points for every dollar you spend on purchases. There are no blackout states or restrictions on how you can use the points you’ve earned. Plus, your points never expire as long as you keep your account in good standing. That means making all your payments on time each month.
Enjoy a zero percent introductory APR on purchases for the first 12 billing cycles after opening your account. After that, the regular APR is 16.99 to 24.99 percent based on your credit history. There’s no promotional rate for balance transfers, which have an APR of 16.99 to 24.99 percent.
07 Best Flat Rate Cash Back Rewards: Citi Double Cash
Most cash rewards credit cards pay higher rewards only in certain categories, which means you have to pay attention to your spending habits if you want to maximize your rewards. With Citi Double Cash, you only have to use your credit card regularly and pay your balance back. You’ll earn one percent on all your purchases and then one percent as you repay your balances, as long as you pay at least the minimum. You have an opportunity to earn two percent cash back on all your purchases if you pay them back right away.
The Citi Double Cash offers a zero percent introductory APR on balance transfers for the first 18 months. After that, the regular APR is 15.49 to 25.49 percent based on your credit history.
08 Best Signup Bonus: Wells Fargo Propel American Express Card | No Annual Fees Credit Cards
The Wells Fargo Propel American Express Card is a co-branded credit card with Wells Fargo and American Express. The card pays 30,000 bonus points when you spend $3,000 on purchases within the first three months of opening your account. The bonus points have a $300 cash redemption value.
Ongoing, you’ll earn three points for every dollar you spend on restaurants, gas stations, rideshares and transit, flights, hotels, homestays, car rentals, and popular streaming services; all your other purchases will earn one point per dollar.
Enjoy a zero percent introductory APR for the first 12 months on purchases or balance transfers. After that, the regular APR is 14.49 to 26.99 percent based on your credit history.