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The information about the Bank of America® Travel Rewards credit card, the Wells Fargo Propel American Express® card, the Bank of America® Cash Rewards credit card and the Wells Fargo Cash Wise Visa® card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Bankrate helps you find the right no annual fee credit card
Choosing the best credit card with no annual fee means choosing the one that’s best for your spending habits. Depending on your card usage, the issuer’s yearly charge to own a card might not outweigh the extra benefits compared to an option with no annual fee.
Bankrate makes your search easier by taking a close look at the top cards available from our partners to see which no annual fee credit cards truly stand out. Our credit card experts also help you understand the ins and outs of getting the most out of your card every day.
Compare the best credit cards with no annual fee
| Card Name |
Our pick for … |
Annual Fee |
Bankrate Review Score |
| Blue Cash Everyday® Card from American Express |
Families |
$0 |
4.5 / 5 |
| Capital One Quicksilver Cash Rewards Credit Card |
Best overall cash back card with no annual fee |
$0 |
4.8 / 5 |
| Chase Freedom Unlimited® |
Best overall rewards card with no annual fee |
$0 |
4.6 / 5 |
| Citi® Double Cash Card |
Flat-rate cash back |
$0 |
4.7 / 5 |
| Capital One SavorOne Cash Rewards Credit Card |
Dining & entertainment with no annual fee |
$0 |
4.6 / 5 |
| Capital One VentureOne Rewards Credit Card |
Travel expenses |
$0 |
4.3 / 5 |
| Discover it® Cash Back |
Rotating cash back categories |
$0 |
4.7 / 5 |
| Capital One Platinum Credit Card |
Best for free credit monitoring |
$0 |
3.7 / 5 |
| Citi Rewards+℠ Card |
Points on everyday purchases |
$0 |
4.6 / 5 |
| Citi Diamond Preferred Card |
Best for balance transfers |
$0 |
4.5 / 5 |
| Upgrade Visa® Card with Cash Rewards |
Best for low interest and low cost |
$0 |
4.2 / 5 |
| Chase Freedom Flex℠ |
Cash back in multiple categories |
$0 |
4.5 / 5 |
| Bank of America® Travel Rewards credit card |
Travel redemption |
$0 |
4.3 / 5 |
| Wells Fargo Propel American Express® card |
Best overall travel card with no annual fee |
$0 |
4.5 / 5 |
| Bank of America® Cash Rewards credit card |
Choosing your own rewards |
$0 |
4.4 / 5 |
| Wells Fargo Cash Wise Visa® card |
Digital wallet users |
$0 |
4.5 / 5 |
A closer look at the best no annual fee credit cards
Blue Cash Everyday® Card from American Express
Best cash back card for families
Pros
The rewards categories seem tailor-made for families: 3 percent cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1 percent) and 2 percent cash back at U.S. gas stations and select U.S. department stores. You also earn 1 percent cash back on other eligible purchases.
Cons
If you don’t spend a lot of money in the 3-percent and 2-percent categories, this card doesn’t offer exceptional value. In that case, you might consider a flat-rate 1.5-percent or 2-percent cash back card, or even a card with rotating bonus categories that match up with your spending habits.
The last word
Parents who devote a lot of their income to providing food, fuel and fashion can earn considerable cash back rewards with this card. The lack of an annual fee translates to one fewer thing that moms and dads have to pay for.
Read the full review and find out how to apply.
Capital One Quicksilver Cash Rewards Credit Card
Best overall cash back card with no annual fee
Pros
The Capital One Quicksilver offers an enticing combination of straightforward rewards earning and Visa Signature® Benefits, all with no annual fee. You get unlimited 1.5 percent cash back on every purchase, every day, as well as perks including emergency assistance, auto rental insurance coverage and fraud coverage. This card’s 0% intro APR offers on purchases can also help you avoid interest on large purchases for the first 15 months of ownership. (After the offers expire, variable APR on purchases goes to 15.49%-25.49%.)
Cons
If you have good or excellent credit, you could easily find a credit card that offers a higher rewards rate. The same goes for the Capital One Quicksilver’s welcome offer ($200 cash back bonus when you spend $500 in your first three months).
The last word
The Capital One Quicksilver might not have the flashiest cash back program, but the 1.5 percent rate is steady and reliable. The card puts out the welcome mat with an easily obtainable sign-up bonus ($200 after spending $500 within the first three months). Combine these qualities with the lack of an annual fee and you get a cash back card that’s very solid overall.
Read the full review and find out how to apply.
Chase Freedom Unlimited®
Best overall rewards card with no annual fee
Pros
The Chase Freedom Unlimited is kind of a Swiss Army Knife of credit cards. It works well for flat-rate cash back, including 3 percent on dining and drugstore purchases and 1.5 percent on all other purchases. It gives you the option of redeeming for travel through the Chase Ultimate Rewards portal and even has a competitive intro offer for new purchases (15 months at 0% APR on purchases, 14.99% – 23.74% variable APR afterward).
Cons
Some consumers might find the allure of bonus rewards rates more appealing than 1.5 percent unlimited cash back, leading them to prefer a rotating category card. The Chase Freedom Unlimited also charges a 3 percent foreign transaction fee, a potential turnoff for international travelers.
The last word
If you want a no-annual-fee card with versatile redemption options, the Chase Freedom Unlimited can do more than provide steady cash back. Even though it’s a strong card in its own right, you could pair it with one of Chase’s Sapphire cards to boost the rewards value.
Read the full review and find out how to apply.
Citi® Double Cash Card
Best for flat-rate cash back
Pros
This card earns unlimited 2% cash back on all eligible purchases (1% when you buy and 1% when you pay for those purchases). With a flat-rate rewards system, you don’t have to adjust your spending habits to focus on different types of purchases.
Cons
If you carry a balance from month to month, you’ll delay some cash back value on the second stage of the rewards system (“1% when you pay”). Rewards aside, we recommend paying your bill in full every month on general principle.
The last word
With no spending categories to track and no annual fee to worry about, it doesn’t get much easier than the Citi Double Cash Card. The card offers an attractive combination of low maintenance and high rewards potential.
Read the full review and find out how to apply.
Capital One SavorOne Cash Rewards Credit Card
Best for dining & entertainment with no annual fee
Pros
This card’s cash back rates on dining and entertainment (3 percent) and grocery store purchases (2 percent) are generous. Additionally, this card features a 0% APR intro offer on purchases for 15 months (15.49% – 25.49% variable APR after).
Cons
The rewards you earn with the SavorOne can be redeemed for cash back (statement credit or check), gift cards or shopping on Amazon.com, but not for travel. Although the card would come in handy for culinary tourism, the rewards you earned wouldn’t directly offset the costs for transportation or lodging.
The last word
Food and fun? Yes. Annual fee? No. The Capital One SavorOne could be a comfortable fit for dining and entertainment enthusiasts who want a rewards card but not one that charges a fee every year.
Read the full review and find out how to apply.
Capital One VentureOne Rewards Credit Card
Best for travel expenses
Pros
The Capital One VentureOne Rewards Credit Card can help you take more trips while telling annual fees to take a hike. You’ll earn 1.25X miles on every eligible purchase with the card. The no foreign transaction fee on this card also allows for you to swipe abroad without any worry of incurring additional costs.
Cons
To stretch your miles further, you might consider a different travel rewards card or a card with a specific airline or hotel chain. Using loyalty points gives you a chance to look for the best deals and potentially get more value per point/mile.
The last word
As a high-value travel card that doesn’t charge an annual fee, the Capital One VentureOne is a rarity. For travel enthusiasts, the flexible redemption options are sure to feel like a rare treat.
Read the full review and find out how to apply.
Discover it® Cash Back
Best for rotating cash back categories
Pros:
The Discover it Cash Back offers generous returns on bonus categories that rotate every quarter (activation required). The Discover cash back calendar covers a broad range of categories including retailers, restaurants, gas stations and ride-sharing services.
Cons:
Remember that you’ll need to activate the rotating bonus category each quarter to earn the 5 percent cash back rate (on up to $1,500 in purchases and 1 percent after). If you’re looking for a no-maintenance card, you might find the Discover it Cash Back a challenge.
The last word:
If you take full advantage of the Discover it Cash Back credit card’s bonus categories (spending $1,500 every quarter), you could earn $300 cash back in a year, not counting your 1-percent earnings in non-bonus spending. Factoring in the lack of an annual fee, this card is a prime contender in the cash back field.
Read the full review and find out how to apply.
Capital One Platinum Credit Card
Best for free credit monitoring
Pros
The Capital One Platinum allows you to build credit, with responsible use, even when your score isn’t its best — it accepts fair to good credit. Also, enjoy no annual fee, no penalty fee and no foreign transaction fees. This card’s fraud protection and emergency card services are also worthy of your attention.
Cons
The regular APR on this card is 26.99% (variable), which is not ideal for the cardholder planning to carry a balance. Also, it’s an unfortunate reality that there are zero rewards, so if you want to earn cash back or miles, look elsewhere. There’s also no zero interest introductory APR on balance transfers or purchases.
The last word
If you’re eager for rewards but don’t have the credit score to reach that goal, the Discover it® Secured might provide you with what you are looking for. However, for a solid card with minimal fees and the ability to build credit, look no further than the Capital One Platinum.
Read the full review and find out how to apply.
Citi Rewards+℠ Card
Best for points on everyday purchases
Pros
The “plus” in Citi Rewards+ refers to the unique feature that rounds your rewards points up to the nearest 10 on individual purchases. You can get 10% Points Back for the first 100,000 ThankYou Points you redeem per year.
Cons
Rounding up aside, some cards simply provide more bang for the buck on rewards rates. You may also have difficulty getting maximum value for points earned with this card if you transfer them to Citi travel partners.
The last word
The round-up feature makes Citi Rewards+ an excellent choice for people whose everyday spending habits tend toward “a little here and a little there” rather than large purchases. If you make a lot of small purchases, it can help your rewards increase at a brisk pace without any extra effort on your part.
Read the full review and find out how to apply.
Citi® Diamond Preferred® Card
Best for balance transfers
Pros
This card has two of the best zero-interest intro offers currently available: 18 months at 0% APR, 14.74% – 24.74% variable APR after, for both balance transfers and purchases. Those offers, combined with the lack of an annual fee, are sure to appeal to consumers who want to avoid APR temporarily and avoid an annual fee altogether.
Cons
The recommended credit score for this card (740 – 850 FICO) could put it out of reach for about half of American consumers. It doesn’t offer a rewards program, which might or might not be a deal-breaker if you’re simply looking for a balance transfer.
The last word
The Citi Diamond Preferred Card offers an opportunity to get the upper hand on debt without paying an annual fee. If you want to transfer a balance and preserve an excellent credit score, this straightforward card could help you make it happen.
Read the full review and find out how to apply.
Upgrade Visa® Card with Cash Rewards
Best for low interest and low cost
Pros
The Upgrade Visa® Card with Cash Rewards offers a unique automatic installment plan — pay a fixed monthly payment over a fixed amount of time. You’ll pay off your balance within 12-60 months, depending on your terms. That’s preferable to a traditional card’s payment options which would make the payment period seemingly endless. Also, earn 1.5% unlimited cash back on card purchases every time you make a payment.
Cons
Although there’s no annual fee with this card. You also won’t find a 0 percent intro APR on purchases or balance transfers.
The last word
Although no balance transfers are allowed with the Upgrade Card, the low fees, low starting regular APR (6.99%-29.99%) and an automatic installment plan make this a good choice for the cardholder looking to manage payments.
Read the full review and find out how to apply.
Chase Freedom Flex℠
Best for cash back in multiple categories
Pros
For the first year, you’ll earn 5 percent cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000. The permanent cash back categories include 5 percent on travel purchased through Chase Ultimate Rewards®, 3 percent at restaurants, including takeout and eligible delivery services, and 3 percent on drugstore purchases.
Cons
The grocery store category doesn’t cover Walmart or Target, a drawback for shoppers loyal to those superstore brands, and it’s good for only the first year on up to $12,000 in purchases.
The last word
The sheer number of categories with high cash back rates make this card quite valuable, and the lack of an annual fee increases its value even more.
Read the full review and find out how to apply.
Bank of America® Travel Rewards credit card
Best for travel redemption
Pros
You get a respectable rewards rate (1.5 points per $1) and flexible redemptions without having to pay an annual fee. Also, if you’re a member of BofA’s Preferred Rewards program, you can earn 25% – 75% more points on every purchase.
Cons
If you consistently take a lot of trips year after year, you might find a premium travel card worth the annual fee. Also, top-tier cards tend to offer more in the way of choice perks including airport lounge access.
The last word
The Bank of America Travel Rewards has quite a bit to offer the casual traveler with qualifying Preferred Rewards accounts with BofA. If you fit that profile (and you don’t like annual fees), this card could make a useful travel companion.
Read the full review and find out how to apply.
The information about the Bank of America Travel Rewards credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Wells Fargo Propel American Express® card
Best overall travel card with no annual fee
Pros
A lot of credit cards earn points or miles on flights, hotels, car rentals and other standard travel expenses. The Wells Fargo Propel earns points in three additional categories, including popular streaming services, gas stations and rideshares, as well as eating out and ordering in. The rate on all four categories is 3X points per $1 spent, which could translate to exceptional rewards earnings — especially for a no-annual-fee card.
Cons
The Propel card uses the American Express credit card network, which is accepted in fewer places worldwide than some of the other networks. Another potential flaw is the Go Far® Rewards program, which doesn’t allow points transfers to airline or hotel loyalty programs.
The last word
The Wells Fargo Propel doesn’t burden cardholders with an annual fee or foreign transaction fees, which budget-conscious travelers are sure to like. It also has the potential to earn considerable travel points across a wide variety of purchases, including some not directly related to checking in or taking off.
Read the full review and find out how to apply.
The information related to the Wells Fargo Propel American Express card has been collected by Bankrate and has not been reviewed or provided by the issuer or provider of this product or service.
Bank of America® Cash Rewards credit card
Best for choosing your own rewards
Pros
If you want a cash back card that offers exceptional rewards on gas purchases without charging an annual fee, take a look at the Bank of America Cash Rewards card. Gas purchases are just one of the six category options you can choose from, so you’ll want to select “Gas” as your choice category and keep it there.
Cons
Despite the card’s generous rewards for gas purchases, cardholders can’t maximize its potential value unless they’re also Bank of America Preferred Rewards clients. If you don’t have a BofA banking or brokerage account with a significant account balance, you’d miss out on cash rewards bonuses of up to 25% to 75% on every purchase.
The last word
Even if you don’t bank with BofA, focus on the cash back rewards for gasoline. This card still offers a lot of value in that area, along with the 2% back at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% back on all other purchases.
Read the full review and find out how to apply.
The information about the Bank of America Cash Rewards credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Wells Fargo Cash Wise Visa® card
Best for digital wallet users
Pros
This card’s regular cash rewards rate is a respectable (if not spectacular) 1.5 percent. However, qualifying digital wallet purchases made during your first year as a cardholder earn 1.8 percent cash rewards — a 20 percent bonus. You also have the option of getting insurance coverage for your phone (up to $600 against covered damage or theft, with a $25 deductible) if you pay your monthly wireless bill with your Cash Wise Visa.
Cons
The 1.8 percent cash rewards rate on qualifying digital wallet transactions ends after the first year, which affects the card’s long-term value. Several competing cards can top the Cash Wise Visa’s cash rewards bonus ($150 after spending $500 in the first 3 months).
The last word
Like no-annual-fee cards, digital wallets are becoming more and more common. If you have room in your phone-first lifestyle for both, the Wells Fargo Cash Wise Visa could be a connection worth making.
Read the full review and find out how to apply.
The information related to the Wells Fargo Cash Wise Visa card has been collected by Bankrate and has not been reviewed or provided by the issuer or provider of this product or service.
What does ‘no annual fee’ credit card mean?
An annual fee is a yearly charge that you must pay to own a select credit card. No annual fee means you won’t have to pay a fixed cost each year to access your credit card and what comes with it.
Think of the fee as payment for having access to special benefits provided by a specific card, which may include:
- Rewards rates on cash back or travel that are higher than average
- Elite-level travel perks, such as priority boarding or free flights
- A more lucrative sign-up bonus or welcome offer than a no-annual-fee card
- Special discounts at retailers and restaurants
As an example, consider The Business Platinum Card® from American Express. The $595 annual fee (See Rates and Fees) might be eye-popping, but the tradeoff includes a rewards rate per dollar spent (5X points on certain qualifying travel expenses through amextravel.com) much higher than what you find with most no-annual fee cards.
At the same time, many credit cards offer rewards programs, travel perks and other items of real value without charging a yearly fee. Many of the top-selling cards offered through Bankrate.com have no annual fee or offer to waive the fee for the first year.
Also, a 2019 survey by Discover suggests that consumers are more likely to have a satisfying experience with a no annual fee card:
|
Annual fee cards |
No annual fee cards |
| Consumers “very satisfied” with their credit cards |
35% |
70% |
Source: Discover Financial Services
With any credit card, whether the benefits justify the expense of an annual fee is up to the consumer. A credit card with no annual fee is often an economical choice, and you don’t necessarily have to sacrifice much quality if you choose carefully.
Is a no annual fee credit card the same as a free credit card?
Though they come without an annual price tag, no annual fee cards are certainly not free. No matter the credit card, interest charges and penalty fees could apply if you don’t pay your balance on time and in full every month.
Still, using your no annual fee credit card responsibly can help you avoid a yearly fee, interest and other charges while simultaneously boosting your credit score.
Three questions to ask as you consider annual fees
When it comes to credit cards, no-fee might seem like a no-brainer. However, take a closer look and you’ll see that certain situations might be more or less ideal for a no annual fee credit card, depending on the individual cardholder.
1. Is it your first credit card?
Beginners might find it easier to learn the credit card basics with a no annual fee card. They’re also more likely to be in the early stages of their careers, with less room in their budgets to absorb the cost of an annual credit card fee.
2. What are your priorities?
For some cardholders, the true value of credit cards lies in their convenience instead of their potential for rewards. Not everyone has the same interest in cash back or travel miles, or the willingness to balance them against an annual credit card fee.
There’s nothing necessarily wrong with having a credit card for the simple reason that it’s often easier than paying with cash or checks. If that reasoning appeals to you, an annual fee probably seems like an unneeded complication.
3. How much do you spend, and where?
Rewards cards with annual fees are worth the cost only if you spend heavily in the applicable categories, so be careful not to mismatch your spending habits and lifestyle. For example, a travel rewards card with a $95 annual fee won’t be very useful to someone who prefers staycations to expensive getaways.
It’s up to you to do the math on whether the annual fee is worth the value you get from the card in your unique circumstances.
How to pair no annual fee and annual fee cards
Those looking to maximize rewards provided by each type of card might want to look into pairing complementary cards.
Start by considering your current card’s rewards structure. If you’re already earning points or cash back at a flat rate, finding a second card to cover the rewards-earning purchases or categories that your current card doesn’t could take your earning to the next level.
For example, a no-annual-fee cash back card matched with a top-tier travel card could increase your total rewards earnings across the board in addition to providing access to luxury perks like airport lounge access, trip insurance and concierge service.
You might also pair a no-annual-fee cash back card with an annual-fee cash back card that offers higher rewards rates in special spending categories, such as grocery stores or supermarkets. You could designate the annual-fee card for those spending categories while using the no-annual-fee card for general purchases.
Many issuers offer no-annual-fee and annual-fee cards that complement each other, so you might be able to keep your cards portfolio under one brand.
The catch, of course, is that you’ll need to follow a strategy of using different cards for different purchases. You’ll also need to make sure your strategy earns enough rewards to offset the cost of the annual-fee card. Take a close look at your spending habits and estimate the potential benefits before trying a card combination.
Frequently asked questions about credit card annual fees
Why do some credit cards have an annual fee?
The simplest explanation involves the relationship between cost and pricing. A card that offers higher rewards rates and more valuable perks will cost more to provide, so the provider typically charges a higher price.
In other cases, an annual fee compensates for the financial risk the issuer assumes by offering cards to consumers with below-average credit or a limited credit history.
Is it worth getting a credit card with an annual fee?
The answer depends on the card, as well as the person who’s considering it.
A creditcards.com survey found a typical range of annual fees from $25 to $450, although premium credit cards could charge even more. It’s all about weighing the value of the rewards you’ll earn against the initial cost.
Certain consumers with specific needs could find an annual fee worth the expense. Some premium cards charge high annual fees because they offer high rewards rates, luxurious benefits or both. Travel cards, airline cards and hotel cards might be worth it for cardholders who travel a lot, but there are many no annual fee cards that offer fairly competitive benefits.
While no-annual-fee cards can often keep up, there are certain high-end add-ons that are typically reserved for annual fee cards. Travel perks like priority boarding, access to VIP lounges, travel accident insurance, comped checked luggage, airline fee credits and more are most often the domain of annual-fee cards. Sign-up bonuses, welcome offers and rewards rates are typically more valuable with annual fee cards.
In the end, the question of annual-fee vs. no annual fee always comes down to trade-offs. Do you spend enough on rewards-earning purchases to justify the cost of the annual fee, or do you have more modest spending habits that make a no-annual-fee card the better choice?
Can you get a no annual fee credit card with bad credit?
No-annual-fee cards for bad credit are rare but not impossible to find. Cardholders with low credit scores pose a larger risk to lenders, so credit cards for bad credit often charge an annual fee to offset that liability. Your most likely option might be getting a secured credit card that doesn’t charge an annual fee.
By definition, a secured card requires you to pay a security deposit that also serves as your credit limit. The good news is that the deposit is refundable as long as you continue to pay your balance on time and in full, making the deposit a one-time expense rather than an annual fee.
Examples of secured credit cards with no annual fee include:
Some secured and unsecured credit cards for people with lower credit scores have annual fees that vary based on where your credit score falls within a certain range. If your FICO Score is in the Very Poor range (300-579) but approaching the Fair range (580-669), your annual fee could be lower.
Overall, though, improving your credit score is the key to qualifying for a credit card that doesn’t require an annual fee or a security deposit. Good financial habits that translate to a higher credit score can open a lot of doors.
How we chose our top no annual fee credit cards
All credit cards from our partners are rated with a 5-star scoring system. For cards in this category, we focused on the merits of each selection apart from charging no annual fee. Those specific criteria included:
Rewards rate and value
To help you get the best returns on your spending, from cash back to travel rewards
Redemption options
To highlight cards that let you redeem your rewards in a useful, flexible way
Extras and discounts
To identify cards that offer retail discounts, insurance coverage and other perks that improve their overall value
Variable APR
To include cards that offer reasonable interest rates in case you carry a balance
More information on credit cards with no annual fee
Here are some additional Bankrate resources on no-annual-fee credit cards:
Senior Editor Barry Bridges has been writing about credit cards, loans, mortgages and other personal finance products for Bankrate since 2018. His work has also appeared on websites including Nasdaq.com, Zillow.com and The Simple Dollar. He was previously an award-winning newspaper journalist in his native North Carolina. Send your questions about credit cards (and fantasy baseball) to bbridges@bankrate.com.
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