No Annual Fee Credit Cards

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.

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.

The Discover it Secured Card is the best secured credit card with no annual fee because it gives 1% to 2% cash back on purchases and has a $0 foreign transaction fee to go along with its $0 annual fee. Discover it Secured also matches 100% of the cash rewards a new cardholder earns the first year. And it reports to all 3 major credit bureaus each month.

There are some other worthwhile options, too. The Capital One Secured Mastercard is the best secured card with no annual fee and a low deposit (as low as $49). And motorcycle fans will benefit from the Harley-Davidson Secured Card’s rewards. Whichever no annual fee secured card you choose, you’ll have the opportunity to build your credit for free if you pay your bill in full every month, since your deposit is fully refundable. But it pays to compare offers.

Best Secured Credit Cards with No Annual Fee:

• Discover it Secured Card. $0 annual fee. $0 foreign transaction fee. 2% cash back on the first $1,000 per quarter at restaurants and gas stations and 1% everywhere else. $200 minimum deposit.
• Capital One Secured Mastercard. $0 annual fee. $0 foreign transaction fee. No rewards. $49, $99 or $200 minimum deposit depending on creditworthiness. $200 credit limit.
• Harley-Davidson Secured Card. $0 annual fee. 3% foreign transaction fee. 1 Harley-Davidson rewards point per $1 spent. 2,500 points gets a $25 gift card. Entered for a chance to win a free motorcycle every time card is used through 12/31/2018.
• Citi Secured Mastercard. $0 annual fee. 3% foreign transaction fee. No rewards. $200 minimum deposit.

There are several really good secured credit cards with no annual fee, and they’re available even to people whose credit is damaged. Some actually offer competitive rewards.

Any no annual fee secured credit card is an excellent way to start building up a positive payment history and rebuilding one’s credit score. Eventually, it will be easier to qualify for unsecured credit cards with better terms. But unsecured cards for people with poor credit almost always charge annual fees.

The best credit cards with no annual fee and no foreign transaction fee are the Capital One VentureOne Visa and the HSBC Cash Rewards Mastercard. That’s because they offer the most rewards in addition to their lack of fees. Capital One VentureOne gives you a 20,000-mile bonus for spending $1,000 in the first three months, 10 miles per dollar at Hotels.com, and 1.25 miles per dollar everywhere else. With the HSBC Cash Rewards Mastercard, you get 1.5% cash back on all purchases. You also get a $150 initial bonus for spending $500 in the first three months, and 10% of all the cash you’ve earned over the year as an anniversary bonus

But the best credit card with no annual or foreign fees really depends on your credit standing and what type of rewards you’re looking for. Fortunately, there’s a whole range of attractive possibilities.

Here are the best credit cards with no annual fee and no foreign transaction fee:

• Travel Rewards: Capital One VentureOne Rewards Credit Card - 20,000-mile initial bonus for spending $1,000 in the first three months. 10 miles per $1 spent on hotels booked through hotels.com/venture, and 1.25 miles per $1 on all other purchases. The VentureOne card requires good credit.
• Cash Back: HSBC Cash Rewards Mastercard - 1.5% cash back on all purchases. $150 bonus for spending $500 in the first 3 months, and 10% of all the cash you’ve earned in the past year as an anniversary bonus. You’ll need good credit to get the HSBC Cash Rewards Mastercard. The Capital One Quicksilver Card is a close second.
• Hotel Points: Best Western Credit Card - 16,000 bonus points after you make your first purchase, and another 16,000 after your first Best Western stay. 13 points per $1 on Best Western stays, and 2 points per $1 on all other purchases. 10% discount when you book a room at the Rewards Member Rate on the Best Western site.This card requires good credit.
• Airline Miles: United TravelBank Card - $150 in TravelBank cash for spending $1,000 in your first three months. Each TravelBank dollar can be redeemed for $1 toward a United flight. 2% back on United tickets, and 1.5% on all other purchases. 25% off in-flight purchases on United flights. This card requires excellent credit.
• Bonus Rewards: Discover it - 5% cash back on a new set of bonus categories every three months, plus 1% cash back on all other purchases. 1st year anniversary bonus matches all the cash back you’ve earned. You need good credit to get this card.
• Dining: Capital One Savor Cash Rewards Card - $150 bonus for spending $500 in your first three months of card membership. 3% cash back on dining, 2% on groceries, and 1% on all other purchases. This card requires good credit.
• Students: Bank of America Travel Rewards Credit Card for Students - 20,000-point bonus for spending $1,000 in purchases within 90 days of opening your account. 3 points per $1 at the Bank of America Travel Center, and 1 point per $1 everywhere else. You can get this card with limited credit.
• Small Business: Capital One Spark Cash for Business - $500 bonus for spending $4,500 on purchases within 3 months of account opening. 2% cash back on all purchases. You need excellent credit to get this card.
• No Credit: Capital One QuicksilverOne Cash Rewards Credit Card - 1.5% cash back on all purchases. 50% statement credit for your Spotify Premium subscription until April 2018.
• Bad Credit: Discover it Secured Credit Card - 2% cash back at restaurants and gas stations, up to $1,000 spent each quarter. 1% cash back everywhere else. 1st year anniversary bonus matches all the rewards you’ve earned. You can get this card with bad credit.

Elite credit cards with no annual fee include Capital One VentureOne, Citi Double Cash and Amex EveryDay. These high-end cards require a minimum of good credit for approval and offer perks such as high everyday earning rates, big initial bonuses and 0% introductory APRs. VentureOne gives 1.25 miles per $1 on all purchases and a 20,000-point initial bonus. Citi Double Cash gives 2% cash back on all purchases, plus 0% on balance transfers for 18 months. And Amex EveryDay offers 0% for 15 months with no balance transfer fee for the first 60 days.  

Other elite credit cards with no annual fee include Bank of America Travel Rewards and Chase Ink Business Cash. They too offer benefits worthy of elite status. They also have strict credit requirements. You’ll need a 700+ credit score to even be considered for most of these cards.

Top 5 Elite Credit Cards with No Annual Fee:

• Travel: Capital One VentureOne Rewards
• Cash Back: Citi Double Cash
• Balance Transfer: Amex EveryDay
• 0% Purchases: U.S. Bank Platinum
• Business: Chase Ink Business Cash

​​​​​​​Closer Look: Elite Travel Cards with No Annual Fee

Bank of America Travel Rewards is an elite credit card with no annual fee because it has a large bonus and high earning rates. You get 20,000 bonus points when you spend $1,000 in your first 90 days. That ’s worth a $200 statement credit toward travel. You also earn 1.5 points per $1 on all purchases. And people with a Bank of America checking or savings account get an additional 10% per $1 spent on all purchases. Excellent credit is required.

Capital One VentureOne Rewards is an elite no annual fee credit card due to its ample rewards. It gives 20,000 bonus miles when you spend $1,000 in your first 3 months. That’s worth $200 toward travel. And you get 1.25 miles per $1 on all purchases, with 10 miles per $1 at hotels.com/venture. Good credit is required.

Elite Cash Back Cards with No Annual Fee

Chase Freedom Unlimited is an elite no annual fee card because of its bonus and 0% APR. You get a $150 cash bonus when you spend $500 in your first 3 months. And you earn 1.5% cash back on all purchases. There’s a 0% APR for 15 months on purchases and balance transfers (5% transfer fee). Excellent credit is required.

Citi Double Cash is an elite $0 annual fee credit card because it gives one of the highest cash back rates on the market for all purchases: 2% when you pay your bill in full. And there’s a 0% APR for 18 months on purchases and balance transfers (5% transfer fee). Good credit is required.

Elite Business Card with No Annual Fee

Chase Ink Business Cash is an elite no fee card because it has a lot of bonus categories. You get 5% cash back, up to $25,000 spent per year, on purchases at office supply stores and internet, cable and phone services. There’s 2% cash back, up to $25,000 spent per year, on gas and dining and 1% on all other purchases. You get a $500 cash back bonus when you spend $3,000 in your first 3 months. There’s a 0% APR for 12 months on purchases and balance transfers (5% transfer fee). You get employee cards at no cost. Excellent credit is required.

Elite 0% APR Cards with No Annual Fee

U.S. Bank Visa Platinum is elite because of its very long 0% APR period. You get 0% on purchases and balance transfers for 20 months. Transfers must be requested in the first 60 days to get the 0% rate, and there’s a 3% transfer fee. You also get free cell phone protection. Excellent credit is required.   

Amex EveryDay is elite because of its no-fee 0% balance transfers and extra points on groceries. You get a 0% APR for 15 months on purchases and balance transfers ($0 transfer fee in the first 60 days). You get 2 points per $1 on your first $6,000 spent on groceries per year and 1 point per $1 on all other purchases. Using your card 20 times in a month gets you 20% more points. There’s also a 10,000-point bonus when you spend $1,000 in your first 3 months. Good credit is required.

At the end of the day, elite and no annual fee are not always synonymous when it comes to credit cards. Cards with annual fees tend to offer more rewards and benefits. Generally, the higher the annual fee, the more rewards you get. Some of the most elite credit cards with fees include Capital One Venture and Barclaycard Arrival Plus.  

The best miles credit card with no annual fee is the Capital One VentureOne Rewards card. VentureOne offers 20,000 bonus miles for spending $1,000 in the first 3 months and gives you 1.25 miles per $1 on all purchases. In contrast, the Capital One Venture card offers 50,000 miles for spending $3,000 in the first 3 months, plus 2 miles per $1 on all purchases. But it costs $95 annually after a free first year. 

The rest of the best miles credit cards with no annual fee are Discover it Miles, Blue Delta SkyMiles and the China Airlines Credit Card with No Annual Fee. Each offers a rewards bonus, and only the Blue SkyMiles card charges a foreign transaction fee (2.7%).

But miles credit cards with no annual fee are pretty rare, unfortunately. Airline miles cards tend to offer big bonuses and lots of travel perks, so most charge you to keep the card open. It can be worth paying a fee for great airline rewards, but probably not if you’re an infrequent or light spender. So it’s good there are at least a few fee-free options.

Here are the best miles credit cards with no annual fee:

• Best bonus - Capital One VentureOne: 20,000-mile initial bonus for spending $1,000 in the first 3 months. 10 miles per $1 at hotels.com/venture and 1.25 miles per $1 on all other purchases. No foreign transaction fee. Good credit needed.
• Best intro APR - Discover it Miles: 1.5 miles per $1 on all purchases. First year’s miles matched. 0% APR on purchases for 14 months. No foreign transaction fee. Good credit needed.
• Best co-branded airline card - Blue Delta SkyMiles: 10,000-mile initial bonus for spending $500 in the first 3 months. 2 miles per $1 at U.S. restaurants and through Delta (1 per $1 on everything else). 20% statement credit for food, beverages and audio headsets on Delta flights. 2.7% foreign transaction fee. Good credit needed. 
• Easiest initial bonus - China Airlines Credit Card with No Annual Fee: 2,500-mile initial bonus for making a purchase in the first 3 billing cycles. 1 mile per $1 on China Airlines purchases and 1 mile per $2 everywhere else. Miles expire after 36 months. No foreign transaction fee. Good credit needed.

You’ll need good credit to get any of the best miles credit cards with no annual fee. If your credit score is lower, you can find no annual fee credit cards or miles cards, just not both. And if you’re a frequent traveler, you shouldn’t necessarily shy away from miles cards with annual fees. You might be able to save more overall. 

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.

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 Bank of America credit card with no annual fee is the Travel Rewards card, which earns 25,000 bonus points when you spend $1,000 in the first 90 days. There’s also the BankAmericard, which offers 0% APR for 15 months on purchases and balance transfers.

Not having an annual fee means Bank of America does not charge you every year to use the card. Annual fees are usually charged on the statement following your card anniversary. The annual fee helps defray the costs of any benefits that come with the card. Despite no annual fee, many Bank of America cards offer rewards and benefits comparable to its annual fee cards.

Here are the Bank of America credit cards with no annual fee:

• Bank of America Travel Rewards and student card: 25,000 bonus points when you spend at least $1,000 in purchases in the first 90 days. Points worth of a $250 statement credit toward travel purchases. Earn 1.5 points per $1 spent on all purchases. Excellent credit required. Limited credit history required for student card.
• BankAmericard (and student card): 0% APR for 15 months on billing purchases and balance transfers made in the first 60 days, 14.74% - 24.74% (V) after. 3% transfer fee ($10 minimum) applies. No penalty APR. Excellent credit required. Limited credit history required for student card.
• Bank of America Cash Rewards (and Student Card): $200 cash back when you spend at least $500 in the first 90 days. Earn 3% per $1 spent on gas and 2% at grocery stores and wholesale clubs, up to $2,500 in combined purchases each quarter. Excellent credit required, fair credit or better for the student card.
• Business Advantage Cash Rewards Mastercard credit card: $200 statement credit when you spend at least $500 in the first 60 days. Earn 3% cash back per $1 spent at gas stations and office supply stores up to $250,000 annually. Earn 2% per $1 spent at restaurants. Excellent credit required.

A Bank of America credit card with no annual may offer better long-term value than those that do. There’s no pressure to earn enough rewards to justify the cost of the annual fee. Plus, you’ll be able to keep your card open for a long time at no cost every year. This will increase the average age of your accounts, which has a positive effect on your credit score.

It’s easy to get a credit card annual fee waived. You just have to pick the right card. Lots of credit cards waive the annual fee during the first year as a promotion, and many have no annual fee at all. But beyond that, you’re unlikely to get your credit card’s annual fee waived unless you’re an active-duty member of the military. Still, it never hurts to ask, even if success is a long shot.
Being well-informed about your rights and alternative credit card options definitely will help your chances. And you can find the most important info below.
Here’s how to get a credit card annual fee waived:

• If you’re employed full-time by the U.S. military, call your issuer and tell them you’d like your SCRA benefits. Exactly how the process works differs by company, but they will ask you to prove your active military status. For example, you might provide a copy of your active duty orders. Once you send the issuer proof, they should waive your annual fee as well as reduce your interest rate. When applying for a card, there’s sometimes a box you can check to indicate your military status, too.

• If you’re not in in the military, you can still ask your card’s issuer to waive or lower its annual fee. Long-time customers and high-spenders with great credit who always pay in full likely have the best chance.

• It’s a common credit card promotion to waive the annual fee for the first year your account is open. This will be noted on the offer when you apply, though. It’s not something you have to ask for.

• If you really want to avoid fees, get a no annual fee credit card. Hundreds are available, including cards with rewards and 0% APRs. You might be able to get a better deal overall by paying an annual fee for more rewards.
Since annual fees help pay for the benefits credit cards provide, issuers aren’t eager to waive them. But there’s no penalty for asking. And if you’re in the military, you should definitely take advantage of the waiver you’ve earned with your service.

One-third of Chase credit cards have no annual fee. Some offer sign-up bonuses, worth up to $500, and points, miles or cash back on every purchase. Others have 0% introductory APRs. All of the no annual fee Chase credit cards require good credit or excellent credit for approval.

The best Chase credit card with no annual fee is Chase Freedom because it offers a $150 bonus for spending $500 in the first 3 months and 5% back on the first $1,500 spent per quarter in rotating categories. Other top contenders are Chase Freedom Unlimited ($150 bonus and 1.5% cash back on purchases) and Chase Slate (0% APR on purchases and balance transfers for 15 months). There are also a few more options with a $0 annual fee for the first year only, including Chase Sapphire Preferred.

Here are the Chase credit cards with no annual fee:

• Chase Freedom
• Chase Freedom Unlimited
• Chase Slate
• Amazon Rewards Visa Signature
• Ink Business Unlimited
• Ink Business Cash
• United TravelBank
• Disney Visa
• AARP Credit Card

A Chase credit card with no annual fee will save you money in the long run, as you’re not paying to use the card every year. But that shouldn’t deter you from applying for a Chase card that charges an annual fee. If you travel regularly or plan to make a big purchase, you may end up earning enough rewards where the annual fee will pay for itself.

For example, if you earn the 50,000-point initial bonus with Chase Sapphire Preferred, those points are worth either a $500 statement credit or $625 in travel rewards. That pays for the Preferred card’s $95 annual fee for 5-6 years, in addition to the free first year.

No, there is not a Southwest credit card with no annual fee. The lowest annual fee for a Southwest credit card is $69 with the Southwest Rapid Rewards® Plus Credit Card. Even though all of the Southwest credit cards currently have annual fees, they come with plenty of benefits to make that fee worth it for frequent Southwest Airlines flyers.

All Southwest credit cards come with signup bonuses, from 40,000 to 80,000 points. The cards also come with good ongoing rewards rates, and benefits like 2 free checked bags and upgraded boarding. Unlike some other airlines, Southwest doesn’t have any transfer partners. That means you can’t get a $0 annual fee credit card from another airline and transfer the rewards to Southwest. Because of that, Southwest credit cards are really only intended for frequent Southwest Airlines flyers.

There are a few credit cards whose rewards you can transfer to Southwest through the Chase Ultimate Rewards travel portal. Those cards include the Chase Sapphire Preferred and Sapphire Reserve cards, and the Chase Ink Business Preferred card. However, each of those credit cards has an annual fee. The best card for transferring points to Southwest is Sapphire Preferred, because it has the lowest annual fee at $95 and comes with a big signup bonus: 60,000 points after spending $4,000 in the first three months.

There are also a few credit cards from other airlines that have no annual fee.