Best credit cards with no annual fee in May 2023

Capital One SavorOne Cash Rewards Credit Card: Best card for dining and entertainment

• What we love about the Capital One SavorOne Cash Rewards card: The card is well-rounded and potentially lucrative for anyone seeking fun experiences and memorable nights out because  it rewards both everyday and entertainment purchases at a decent rate. Concerts, movies, sporting events, theme parks and tourist attractions are all included in Capital One’s entertainment bonus category.
• Who this card is good for: People who enjoy dining out and entertainment lovers could get the most value on purchases.
• Alternatives: Cardholders seeking a card with more flexibility in cash back earnings and reward redemption should consider the Discover it® Cash Back card, which comes with an unlimited Cashback Match™ welcome offer, matching all the cashback you earn at the end of your first year.

Learn more: How to best use the Capital One SavorOne sign-up bonus. 
Read our full Capital One SavorOne review or jump back to offer details.

Wells Fargo Active Cash Card: Best card for flat-rate cash rewards

• What we love about the Wells Fargo Active Cash card: The sign-up bonus and unlimited 2 percent cash rewards on purchases alone make this a standout flat-rate credit card, and its intro APR period on purchases and qualifying balance transfers from account opening) adds even more value.
• Who this card is good for: Anyone looking for a well-rounded flat-rate cash rewards credit card with no annual fee and plenty of perks.
• Alternatives: For rewards seekers looking to earn more than 2 percent back in select categories, the U.S. Bank Cash+® Visa Signature Card could give more overall value in key spending categories.

Learn more: Wells Fargo Active Cash Card benefits guide. 
Read our full Wells Fargo Active Cash Card review or jump back to offer details.

Discover it® Cash Back: Best card for flexible spenders

• What we love about the Discover it® Cash Back card: Spending in Discover’s rotating cash back categories can reward cardholders with 5 percent cash back on up to $1,500 each quarter, and you could essentially double your cash back earnings at the end of your first year with the Cashback Match™ program (Discover will automatically match all the cash back you've earned at the end of your first year).
• Who this card is good for: Someone who wants to cash in on a variety of seasonal expenses.
• Alternatives: Flat-rate cash rewards cards such as the Wells Fargo Active Cash® Card may be better for people who prefer a simple rewards structure.

Learn more: Reasons to love the Discover it Cash Back credit card. 
Read our full Discover it® Cash Back review or jump back to offer details.

Capital One VentureOne Rewards Credit Card: Best card for new travelers

• What we love about the Capital One VentureOne Rewards card: You can use your Capital One miles to book hotels, flights and rental cars through Capital One’s website, or you can use your card to book travel through another service or website and redeem your miles as a statement credit to cover the cost.
• Who this card is good for: People who are occasional or beginner travelers.
• Alternatives: If you are a frequent traveler looking to maximize your rewards earnings and don’t mind paying a few hundred dollars for an annual fee, you may prefer the Chase Sapphire Reserve®.

Read our full Capital One VentureOne Rewards Credit Card review or jump back to offer details.

Citi Custom Cash Card: Best card for customized rewards

• What we love about the Citi Custom Cash card: The bonus category automatically shifts to match your top eligible purchase category each billing cycle and the card touts 5 percent cash back in 1 of 10 bonus categories — one of the highest cash back rates for a card with no annual fee.
• Who this card is good for: Someone who wants to earn a high cash back rate without being limited to one or two category options.
• Alternatives: If you want to earn rewards in multiple categories, you may be better off with the variety of rotating categories offered by the Chase Freedom Flex℠.

Learn more: Is the Citi Custom Cash card worth it? 
Read our full Citi Custom Cash Card review or jump back to offer details.

Capital One Quicksilver Cash Rewards Credit Card: Best overall cash back card with no annual fee

• What we love about the Capital One Quicksilver Cash Rewards card: With a noteworthy set of perks and a decent rewards rate, this card offers several travel and shopping protections, including emergency card replacement and fraud coverage. You can also benefit from an unlimited flat-rate on all purchases and boosted cash back on hotel and rental cars booked through the issuer’s travel portal.
• Who this card is good for: Cash back first-timers seeking a simple no-annual-fee card.
• Alternatives: For people who'd rather focus their spending on a few categories, the Bank of America® Customized Cash Rewards credit card could provide higher cash back earning potential overall.

Learn more: What is to love about the Capital One Quicksilver Cash Rewards card.
Read our full Capital One Quicksilver card review or jump back to offer details.

Citi Double Cash Card: Best card for high reward potential

• What we love about the Citi Double Cash card: With no bonus categories or annual fee to worry about and a solid cash back rate, this card can be a valuable, stress-free addition to most wallets. Its unique rewards system lets you earn 1 percent cash back when you buy and another 1 percent when you pay.
• Who this card is good for: People who want a flat-rate cash back card with no annual fee.
• Alternatives: The Chase Freedom Unlimited® Card might be a better choice for those looking for a more lucrative sign-up bonus.

Learn more: Is the Citi Double Cash card worth it? 
Read our full Citi Double Cash Card review or jump back to offer details.

Wells Fargo Autograph Card: Best for everyday travel

• What we love about the Wells Fargo Autograph card: This rewards card gives you plenty of places to earn points due to its variety of spending categories.
• Who this card is good for: Credit card newbies and minimalists alike who want a straightforward rewards plan without the hassle of tracking rotating categories and value affordability.
• Alternatives: The one key spending category missing from the Wells Fargo Autograph is groceries or supermarket purchases. Although it’s a great card for travel, dining, streaming and gas, it lacks one of the most prominent everyday categories that you can find on a card like The Blue Cash Everyday® Card from American Express.

Read our full Wells Fargo Autograph Card review or jump back to offer details.

Bilt Mastercard: Best for renters

• What we love about the Bilt Mastercard: Along with its savings on rent payments, this card offers high-value flexible travel rewards for a no-annual-fee card. You’ll typically need to pay an annual fee of at least $95 to access such an extensive list of high-value airline and hotel transfer partners.
• Who this card is good for: Renters who plan to redeem their rewards for travel, especially those who already have a card that earns rewards on everyday purchases like groceries and gas.
• Alternatives: If you don’t see yourself renting long term, but still want to earn rewards on travel and dining, a flexible no-annual-fee travel card like the Wells Fargo Autograph card could be a better fit. Though its rewards aren’t as valuable as the Bilt card’s, the Autograph card offers a wider range of everyday bonus categories, including travel, transit, restaurants, gas and more. You can also redeem for both cash back and travel at a flat value of 1 cent per point.

Learn more: Full guide to the Bilt Mastercard. 
Read our full Bilt Mastercard review or jump back to offer details.

Capital One Platinum Credit Card: Best card for credit builders

• What we love about the Capital One Platinum card: For a card available to consumers with less-than-ideal credit, its set of features is very impressive. The Capital One Platinum has no annual fee and no foreign transaction fees. Capital One will review your account  to determine your eligibility for a higher credit limit after six months.
• Who this card is good for: Someone with fair to good credit trying to improve their score.
• Alternatives: There are no-annual-fee cards with more valuable perks such as the Citi Custom Cash Card for rewards seekers looking to earn cash back or points on purchases.

Learn more: Capital One Platinum card benefits guide.
Read our full Capital One Platinum Credit Card review or jump back to offer details.

Chase Freedom Flex: Best no annual fee card for multifaceted spenders

• What we love about the Chase Freedom Flex card: The Freedom Flex features bonus categories that rotate each quarter, giving cardholders plenty of variety.
• Who this card is good for: Someone who wants to earn rewards in several purchase categories.
• Alternatives: For those looking for cards with unique rewards categories, the Bilt Mastercard may be just what you need. With this card, you can earn 1X points on rent (up to 50,000 points per year) with no processing or transaction fees. (Earn points when you make 5 transactions that are posted each statement period.)

Learn more: Reasons to love the Chase Freedom Flex. 
Read our full Chase Freedom Flex review.

A no-annual-fee credit card is a type of credit card that gives cardholders an opportunity to have a credit card, earn rewards and use perks without charging the typical annual fee. If you're searching for a credit card, you’ve probably noticed that some cards charge a yearly fee for simply having the card but come with lucrative rewards and perks. In many cases, you’ll still get the same long-term value from a credit card without an annual fee.

Just about anyone can benefit from the right no annual fee credit card. If you want to get one, consider how you might use the card, your typical spending habits and your overall financial priorities. A credit card with no annual fee may be right for you if you fit any of the following consumer types:

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

There are plenty of cards on the market that don't charge an annual fee but still offer some notable perks. When deciding what no-annual-fee card is best for you, consider these questions:

What are your spending habits?

Understanding your spending habits is key to figuring out which no-annual-fee card will be most beneficial for you. A lot of cards offer boosted rewards rates for spending in certain categories. Therefore, knowing which of these categories you spend the most in will help you pinpoint the card that gives you the most bang for your buck.

What benefits and rewards do I need?

It’s important to note that some cards may offer higher rewards rates than others. Other cards may also offer specific types of rewards that vary for each card. For example, one credit card may only offer rewards in the form of cash back, while another card may offer travel points and miles. Always know exactly what you’re looking to get from your card in terms of rewards and benefits.

Do the rewards compensate for not having an annual fee?

Keep in mind that cards with an annual fee usually come with more desirable perks. If you’re still uncomfortable with an annual fee or you simply feel that the rewards associated with a no-annual-fee card fit with your lifestyle, sticking to a card without that extra cost could be your best bet.

Not all credit cards with annual fees have the long-term value you may need. This can be from many factors like a recent card update, certain perks expiring or realizing that you don’t use enough of the card’s benefits to justify the cost. This is the best time to consider a new card. However, instead of canceling your card and taking a hit on your credit score, you can downgrade to a no-annual-fee card.

When you downgrade, your credit score is unaffected as it keeps your utilization the same as well as keeps the age of your account and doesn’t need a hard pull. However, there are a few cons to this choice, such as opting out of potential bonuses on the new card. Still, if you think the pros outweigh the cons, you should move forward with the decision.

Just keep in mind a few things before you do, such as how long your account has been open. The issuer may reject your request if your account has been open for less than a year. You also want to make sure to use all your rewards on your current card as there is a chance that you may not be able to take them with you when you downgrade.

Are credit cards with annual fees ever worth it?

Choosing a no-annual-fee credit card might seem like an easy decision — who would want to pay a yearly fee when you don’t have to? However, there are times when an annual fee is justified. Often, cards with annual fees include perks that match the price such as higher welcome bonuses, higher rewards rates, and travel perks. Depending on the worth of points or miles on the card, this can greatly benefit big spenders or those looking to be rewarded from large purchases. However, these perks are only great if you use them. 

If you’re less involved with your card or the perks don’t fit your lifestyle, it becomes an extra bill. For example, suppose you are a frequent traveler. In that case, upgrading from the Capital One VentureOne to the Capital One Venture Rewards Credit Card  may be worth it when considering the additional benefits like TSA Precheck or Global Entry credits and lost luggage reimbursement. If you travel throughout the year, these perks can be enough to justify the cost. However, if you’re looking strictly at miles earned on travel, there’s a gap in value.

A no-annual-fee credit card can be a great addition to your wallet if used correctly. Keep these tips in mind when using your card:

• Pay your balance on time and in full each month. Keeping your spending in check so you can pay off your balance in full each month will allow you to take full advantage of your no-annual-fee card’s low ownership cost and keep your credit utilization low.
• Pair the no-annual-fee card with a rewards card. When you’re comfortable managing your no-annual-fee credit card, it’s worth pairing it with a card that charges an annual fee but earns more rewards. For example, one of the best no-annual-fee credit cards, the Chase Freedom Unlimited, earns cardholders cash back on certain categories but pairing it with the Chase Sapphire Reserve® for travel rewards, can round out your earnings.
• Keep the card open when you upgrade. With no annual fee to pay for keeping the card, you can use an old no-annual-fee card to boost your credit score by keeping the card open to improve your credit utilization ratio and credit history length.

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