Ryan P Page, Staff Writer
@ryan_page
It is better to get a credit card with no annual fee in many cases, as it can help you earn rewards and improve your credit without any extra cost. You can also keep such a credit card open indefinitely, making it easier to build a long credit history as well as maximize your rewards and overall savings in the long run.
Popular Rewards Credit Cards With No Annual Fee
- Bank of America: Bank of America® Unlimited Cash Rewards credit cardLearn MoreLearn Moreon issuer's website
- Bank of America: Bank of America® Unlimited Cash Rewards credit cardLearn MoreLearn Moreon issuer's website
- Bank of America: Bank of America® Unlimited Cash Rewards credit cardLearn MoreLearn More
- Rates & Fees Capital One*: Capital One Quicksilver Cash Rewards Credit CardLearn MoreLearn Moreon issuer's website
- Rates & Fees Capital One*: Capital One Quicksilver Cash Rewards Credit CardLearn MoreLearn Moreon issuer's website
- Capital One*: Capital One Quicksilver Cash Rewards Credit CardLearn MoreLearn More
- Rates & Fees Terms ApplyAmerican Express: Blue Cash Everyday® Card from American ExpressLearn MoreLearn Moreon issuer's website
- Rates & Fees Terms ApplyAmerican Express: Blue Cash Everyday® Card from American ExpressLearn MoreLearn Moreon issuer's website
- American Express: Blue Cash Everyday® Card from American ExpressLearn MoreLearn More
- U.S. Bank: U.S. Bank Cash+® Visa Signature® CardLearn MoreLearn More
- Rates & Fees U.S. Bank: U.S. Bank Cash+® Visa Signature® CardLearn MoreLearn Moreon issuer's website
- U.S. Bank: U.S. Bank Cash+® Visa Signature® CardLearn MoreLearn More
- Rates & Fees Chase: Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website
- Rates & Fees Chase: Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website
- Chase: Chase Freedom Unlimited®Learn MoreLearn More
- Bank of America:
- Capital One*:
- American Express:
- U.S. Bank:
- Chase:
*(see details, rates & fees)
What to Consider Before Choosing Your Next Credit Card
If you’re new to credit, rebuilding your credit, or trying to minimize financing costs, it’s best to choose a no-annual-fee option. People in these situations typically won’t earn enough rewards to justify paying a fee, and the cards with the lowest interest rates usually don’t charge one.
However, if you're a big spender, you shouldn't rule out cards with annual fees, as they can offer superior rewards that more than offset the cost. A rewards credit card with an annual fee is often the best option—particularly for those with good or excellent credit who plan to pay their balance in full each month. If that sounds like you, compare the best rewards credit cards on WalletHub to see what’s available and whether paying a fee will pay off.
Popular No Annual Fee Credit Cards
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Cash Back
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Bonus Cash Rewards
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Travel
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0% Intro APR
People also ask
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. Similarly, 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.
Notable Credit Cards...
read full answer by WalletHub, Financial CompanyAre no fee credit cards worth it?
No fee credit cards are worth it when they offer good rewards or a low APR, and when you can’t save more money with a card that charges a fee. All else being equal, not having to pay an annual fee is a clear benefit, but you may be able to outweigh the cost of a fee with rewards or perks that save you more in the long run.
The best approach is to...
read full answer by Theresa Chalfant, WriterIs no annual fee better than cash back?
A no-annual-fee credit card is better than a cash back credit card with an annual fee if you won't earn enough cash back rewards to offset the fee based on your typical spending habits. Fortunately, there are many cash-back cards with no annual fee, so you don’t have to choose between the two.
Best Cash Back Credit Cards With No Annual Fee
- Rates & Fees Overall:
- Rates & Fees Overall:
- Overall:
- Excellent Credit:
- Excellent Credit:
- Excellent Credit:
- Rates & Fees Low Intro APR:
- Rates & Fees Low Intro APR:
- Low Intro APR:
- Details, Rates & Fees Dining & Entertainment*:
- Details, Rates & Fees Dining & Entertainment*:
- Dining & Entertainment*:
- Fair Credit:
- Fair Credit:
- Fair Credit:
- No Credit:
- No Credit:
- No Credit:
- Overall:
- Excellent Credit:
- Low Intro APR:
- Dining & Entertainment*:
- Fair Credit:
- No Credit:
*(see details, rates & fees)
Choosing whether or not to get a...
read full answer by Adam McCann, Financial WriterDid we answer your question?
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