Do most credit cards have an annual fee? This question is about No Annual Fee Credit Cards

No, most credit cards do not have an annual fee. Only about 15% of credit cards charge annual fees, according to WalletHub’s database of more than 1,500 credit card offers, and even those few cards that do charge fees often make up for the cost with rewards and benefits. So, you shouldn’t rule out a card just because it has an annual fee. Best Credit Cards with No Annual Fee Rates & FeesBest Overall: Wells Fargo Active Cash® CardWells Fargo Active Cash® CardLearn MoreLearn Moreon issuer's websiteBest for Bonus Rewards: Chase Freedom Unlimited®Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's websiteBest for Students: Bank of America® Travel Rewards credit card for StudentsBank of America® Travel Rewards credit card for StudentsLearn MoreLearn Moreon issuer's websiteBest for Bad Credit: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn MoreBest for Fair Credit: Petal® 2 Visa® Credit CardPetal® 2 Visa® Credit CardLearn MoreLearn Moreon issuer's websiteNo Foreign Transaction Fee: Capital One SavorOne Cash Rewards Credit CardCapital One SavorOne Cash Rewards Credit CardLearn MoreLearn More If you’re a big spender, some of the best credit cards with an annual fee offer good enough rewards to more than cover the cost of the annual fee. If you don’t plan on using your credit card very often, though, one of the best no annual fee credit cards may be a better option.

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Do most credit cards have an annual fee?

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This question is about No Annual Fee Credit Cards

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Milvionne Chery Copeland, Writer

@milvionne_copeland • 07/05/22 This answer was first published on 07/05/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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No, most credit cards do not have an annual fee. Only about 15% of credit cards charge annual fees, according to WalletHub’s database of more than 1,500 credit card offers, and even those few cards that do charge fees often make up for the cost with rewards and benefits. So, you shouldn’t rule out a card just because it has an annual fee.

Best Credit Cards with No Annual Fee

Rates & FeesBest Overall: Wells Fargo Active Cash® CardWells Fargo Active Cash® CardLearn MoreLearn Moreon issuer's website
Best for Bonus Rewards: Chase Freedom Unlimited®Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website
Best for Students: Bank of America® Travel Rewards credit card for StudentsBank of America® Travel Rewards credit card for StudentsLearn MoreLearn Moreon issuer's website
Best for Bad Credit: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn More
Best for Fair Credit: Petal® 2 Visa® Credit CardPetal® 2 Visa® Credit CardLearn MoreLearn Moreon issuer's website
No Foreign Transaction Fee: Capital One SavorOne Cash Rewards Credit CardCapital One SavorOne Cash Rewards Credit CardLearn MoreLearn More

If you’re a big spender, some of the best credit cards with an annual fee offer good enough rewards to more than cover the cost of the annual fee. If you don’t plan on using your credit card very often, though, one of the best no annual fee credit cards may be a better option.

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Why do credit cards have annual fees?

Credit cards have annual fees to help cover the cost of rewards programs, benefits like travel insurance, and account services such as billing and customer support. Annual fees also help credit card companies profit more, especially on cards that people don’t use much. Also, in the case of credit cards for people with limited or bad credit, annual fees help credit card companies reduce the risk of lending to unproven borrowers.

The most common...

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What is the average annual credit card fee?

The average annual credit card fee is currently $21.65. A credit card’s annual fee is typically charged on the account's anniversary or the month after it. It will show up on the credit card statement like a normal purchase.

An annual fee on a credit card isn’t necessarily a bad thing. Lots of credit cards with annual fees more than make up the extra cost with better rewards and supplemental perks such as travel...

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How do I get a credit card annual fee waived?

The easiest way of getting your credit card annual fee waived would be to pick a credit card that waives the annual fee during the first year as a promotion, or one with no annual fee at all. Alternatively, you can call the issuer’s retention line, but it is not guaranteed that it will work. Beyond that, you’re unlikely to get your credit card’s annual fee waived unless you’re an active-duty member of the military....

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