One of the biggest factors people use to pick a credit card is whether or not it has an annual fee. Credit cards with no annual fee are exponentially more popular than those who charge members each year for the privilege of carrying the plastic. But sometimes, the price a consumer will pay by avoiding an annual fee is high, due to a higher interest rate and reduced rewards program. In fact, some of the most rewarding credit cards I use come with a fee.
But for those looking to avoid the cost, I’ve compiled an extensive list of the best no annual fee credit cards, taking into account everything that creates a quality credit card.
Discover it® CashBack Match™: This card is currently offering double cash back for the first year. The cash back amount is up to 5% on categories that change every three months. It also offers 0% APR introductory rate on balance transfers and purchases. In addition, card members get free access to their official FICO credit score.
Chase Freedom: This card comes with several benefits. It offers 1% cash back on all purchases + 5% cash back on select categories that change each quarter. It offers a 0% APR introductory rate on purchases and balance transfers. And it comes with a $150 cash bonus when you spend $500 on the card in the first three months.
Barclaycard Rewards MasterCard®: This card is for those with average credit. It offers 2x cash back rewards on purchases for gas, groceries, and utilities, and 1% cash back on all other purchases.
Capital One Quicksilver Cash Rewards Credit Card: This cash back card offers 1.5% cash back on all purchases. It also comes with a lengthy 0% APR introductory rate on purchases and balance transfers. Finally, you can earn a $100 cash bonus when you spend $500 on the card in the first three months. Get more details here.
Citi Double Cash Card: This card offers 1% cash back on every purchase + 1% cash back when you pay for the purchase. It also comes with an excellent 0% APR introductory rate on balance transfers and purchases. This is the card I carry and use everyday.
American Express Everyday® Card from American Express: This is the no annual fee version of the American Express popular cash back card. You’ll earn 2x points on up to $6,000 in groceries every year. You also earn 1x points on all other purchases. You can also earn a 10,000 bonus points when you spend $1,000 on the card in the first three months. Get more details here.