The best credit card with no annual fee and no joining fee is the Citi Double Cash card. It gives a total of 2% cash back on all purchases by doling out 1% back when you buy something and an additional 1% when you pay the bill. That’s why Citi Double Cash is one of the best cash back cards on the market. It also offers an introductory APR of 0% for 18 months on balance transfers. There is a balance transfer fee of 3% (min $5), but Citi Double Cash doesn’t have any of those pesky one-time joining fees, aka “initiation fees” or “processing fees.”
If you’re new to credit, you might want to consider the Capital One Platinum card. It doesn’t require any existing credit history, and has a $0 annual fee with no one-time joining fees.
People with bad credit can still get a credit card with no annual fee and no joining fee. Discover it Secured is one example. It even gives rewards, with 2% cash back on $1,000 spent per quarter on restaurant and gas purchases and 1% on all other purchases.
No annual fee means you will not be charged every year for using your credit card. You’ll save anywhere from $25 to $550 in annual fees, depending on the on a credit card.
Annual fees are often tied to high-end rewards cards, travel rewards cards, business cards and secured cards for people with fair, limited, or bad credit. The annual fee helps the issue recoup the costs of rewards and benefits the card offers.… read full answer
However, there are a number of no annual fee credit cards that offer rewards such as cash back or rewards earned on purchases. But you will need good credit or better to qualify for most of these cards.
A good go-between is a credit card that waives the annual fee for the first year you have the card. After the first year, the fee will be charged to your account. If, after that first 12 months, you’ve determined that having the card isn’t beneficial, you can close the account. Keep in mind that closing a credit card account, especially after only a year, could have a negative effect on your credit score. In addition, when your card is closed, you will be unable to redeem any rewards you’ve earned with the card.
Whether you should have a no annual fee card depends on your spending habits and preferences. If you’ll earn enough in rewards to warrant the cost of an annual fee, it might be worth the investment. But if you know you won’t make too many purchases over the course of a year, your best bet would be to stick with the no annual fee card.
The best travel credit card with no annual fee is the Capital One VentureOne card because it offers an initial bonus of 20,000 miles for spending $1,000 in the first 3 months. It also rewards cardholders with at least 1.25 miles per $1 spent on all purchases (10 per $1 at hotels.com). VentureOne has a $0 foreign transaction fee in addition to its $0 annual fee.… read full answer
If you aren’t planning to go anywhere too adventurous, consider the Discover it Miles card. Discover’s not accepted in as many international locations as Visa or Mastercard, but its US acceptance is pretty good. The Discover Miles card also has good rewards. It offers 1.5 miles per $1 spent on all purchases, doubled year one.
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