No annual fee credit cards offer the standard features of a credit card without the requirement of an annual fee. This means that you’ll get the flexibility of having a credit card without needing to pay a fee for the service. No fee credit cards are a great choice for people who won’t use the benefits offered by cards that charge a fee, such as cash back rewards and travel perks. Two of the common reasons people choose no fee cards are as a free backup to the other credit cards that they use regularly, or if they know that their spending habits don’t make paying a fee worthwhile.
Are no fee cards a good option?
While not paying a fee for your credit card may seem like a huge bonus it’s important to consider the features that you’re sacrificing. For instance many no fee cards do not offer cash back rewards, air miles, membership perks (like priority seating and advance concert tickets), or spending bonuses. If the rewards from your credit card spending won’t equal the cost of the annual fee then you should definitely consider no fee options. However, if you know that the fee will be repaid in bonuses every year then you should expand your search to include credit cards with fees.
Choosing the right credit card
There are a number of things to look for when choosing a no annual fee credit card either as a main credit card or as a backup card. One of the first considerations is the introductory period bonus, which may include a lower APR for a set period of time. This shows how much interest you’ll be charged on purchases after you initially signup for the card. You’ll want to look at the rate and length of the bonus period to see which card has the best offer. You’ll also want to look at the regular APR of the card; this is how much interest you’ll be charged after the initial signup period. Although you won’t receive the same amount of bonuses as you would for a card with an annual fee some cards will offer additional perks, look out for cash back bonuses and other rewards that you’re interested in.
Reviewing no annual fee credit cards
Our website is here to help our community find the best credit cards with no annual fee and choose the right credit card for their needs. If you’ve had experience with a no fee credit card in the past please feel free to leave a review to help other site visitors make an educated choice when picking a no fee credit card.