Best credit cards with no annual fee in April 2024

A credit card’s annual fee is generally worth it when the benefits of the card equal or outweigh the cost. Many cards with annual fees include perks that offset the annual fee, but no-annual-fee cards can still be valuable.

However, the latest J.D. Power credit card customer satisfaction study finds that cardholders who have a credit card with a $100 or higher annual fee are more satisfied with their card benefits and rewards than cardholders with a no-annual-fee card on average. It’s important to calculate whether these premium features are worth the price tag based on your typical annual expenses and whether you’ll be able to take full advantage of the perks consistently. Otherwise, a premium card could be a money pit.

For example, the Bank of America® Premium Rewards® credit card could be a worthwhile step up from the no-annual-fee Bank of America® Travel Rewards credit card if you can utilize the annual credits toward airline incidental costs like seat upgrades, in-flight services and baggage fees. Otherwise, the no-annual-fee version could easily be the better choice.

*Based on Bureau of Labor Statistics spending data, an assumed $22,500 yearly spend and a 1-cent point redemption value.

No-annual-fee credit cards are one of the more forgiving credit card options available since you don’t need to worry about making up for a yearly cost just to hold the card. However, you should weigh the benefits and drawbacks before applying.

No-annual-fee credit cards tend to be less complex than cards with annual fees, though there are still a few tricks to choosing the best option for you and getting the most out of it. 

Still unsure if a no-annual-fee credit card is right for you? Check out our Credit Card Spender Type Tool to get personalized credit card recommendations based on your credit score, spending habits and daily needs.

Bankrate editor Steve Dashiell chose a no-annual-fee card with rotating reward categories to help him keep an eye on his spending:

“Having crashed and burned on my first attempt at using a credit card, I needed my second attempt to keep things simple. But at the same time, I also wanted some extra depth. My thought was pretty simple: I can set up the card to pay off my balance in full at the end of each statement period so that it effectively runs itself. But once I felt comfortable managing the card, I could lean into some extra card features to take advantage of any perks or rewards.

The Chase Freedom — now the Chase Freedom Flex℠ — came highly recommended by a friend of mine, and it was easy to see why. The card’s rotating reward categories offer an extra incentive to monitor and plan out your spending, something I wasn’t great at doing. And even if I didn’t feel like chasing a quarter’s categories, I could still earn a reliable 1 percent cash back on all other purchases.

During my research, I also learned about the Chase Trifecta, which was just the type of value ‘expansion’ I was hoping for in the event everything went well with my credit card revenge arc. The fact that the card offered so much potential for no annual fee (along with a recommendation from a friend) made choosing the card a no-brainer.”

— Steve Dashiell, Editor, Credit Cards

Once you’ve decided you want a no-annual-fee card, there’s another key question to consider: when is the best time to apply? Some months may be better than others depending on credit card welcome offers, perks and your seasonal needs.

Our research indicates a solid answer: No-annual-fee cards — cash back cards, especially — are the most popular in January and October, leading into the holidays.

According to Bankrate’s proprietary data of readers who clicked on no-annual-fee credit card offers on our site in 2023, reader interest in these offers dropped 31% from February to August 2023 but quickly rebounded by 44% to their highest interest level all year in November 2023.

Across our top credit card offer pages, the top few cards that users were most interested in each month tended to be a no-annual-fee credit card, usually with cash back rewards and unchanging sign-up bonuses. Each month’s trending offers tended to reflect what users may need a credit card for at that time of year. 

For example, a no-annual-fee card with a strong balance transfer offer was one of the most popular cards on our site January through March — when people may need 0 percent intro APRs to recover from holiday spending. And a student credit card shot up in popularity during the fall months while students returned to school.

However, our data also shows that travel cards with annual fees can be just as popular, especially when issuers increase sign-up bonuses in the spring or fall. If you’re on the fence about getting a card with no annual fee, make sure that travel card you might have your eye on didn’t recently increase its welcome offer. Otherwise, that no-annual-fee card could be the next best addition to your wallet.

When evaluating the best credit cards with no annual fee, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest. 

We analyzed over 250 of the most popular credit cards and selected standouts that carry no annual fee. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more to determine whether it belonged in this month’s roundup. 

Here are some of the key factors that we considered:  

Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

We’ve asked a few personal finance experts about the best perks you should look for on a no-annual-fee credit card.

Many no-annual-fee credit cards also have great perks, including: 

• Intro APR. If you're looking for a card that doesn’t charge interest for several months, you’re in luck. There are plenty of cards on the market that offer a low intro APR, such as the Chase Freedom Unlimited®, which can help you save on interest for the first 15 months after opening the account. 
• Cell phone protection. The Wells Fargo Active Cash® Card doesn't charge an annual fee and has cell phone protection, which will reimburse you for the cost to repair or replace your phone if it's damaged or stolen (up to $600 per claim, up to two claims per year, minus a $25 deductible). Although cracked screens and cosmetic damages are not covered, this coverage can definitely give you peace of mind, at no cost. 
• Free credit score access. If you want to keep track of your credit score, the Citi® Diamond Preferred® Card is a great option since it offers free access to your FICO Score. 

So it really depends on what you’re looking for! 

— Erica Sandberg, personal Finance expert

No-annual-fee cards can still have a variety of perks and rewards. The best perks are ones you will actually use, so choose a card with a rewards program that offers a high rewards rate on the types of spending that you do the most. Other perks, like purchase protection and insurance coverages, are also included on many no-annual-fee cards. Take time to review all the details and select the one that makes the most sense for you. 

— Thomas Nitzsche, personal finance expert

For any card you consider, you’ll want to look for benefits that match your spending style. For cards that have no annual fee, every benefit that you can take advantage of is a gain (since you don't have an annual fee to offset). Start by looking for options that offer a sign-up bonus. If you want to keep your earning simple, look for a card with a high flat rewards rate (like the Citi Double Cash® Card). If you want to max out your earnings and are willing to take the time to track rotating categories, choose a card that offers a high rewards rate in categories that fit your spending habits (consider a card like the Chase Freedom Flex*).

— Stephanie Zito, personal finance expert

* Information about the Chase Freedom Flex℠ has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.