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5 Best Credit Cards with No Annual Fees for September 2022

Best Credit cards with no annual fees


The popular trend of credit card companies to offer good sign up bonus to new card holders with no annual fees cards can be an easy way to enjoy extra rewards and perks. One can find best deals in terms of sign-up bonus, cash back offers or travel rewards from some of best credit cards with no annual fees.

 

However, it seems difficult to choose the best credit cards with no annual fees when there are so many options around you. So, to make this task smooth for you, we have prepared a list of best credit cards with no annual fees by comparing nearly 50 cards.

 

All you need to do is figure out which type of rewards you want to enjoy before choosing the best credit card at no annual fees for you. Also, we have tried to include only those cards which are offering generous sign up bonus at no annual fees at all.

 

Here, is quick summary of our top findings for best credit cards with no annual fees to help you to enjoy bonuses and rewards to save extra on your spending-

 

Sr No

Credit Card

Sign-up Bonus offer

Rewards      Rate

Annual Fees

 

1.

Chase Freedom Flex

 

 

$200

1%-5%

 

$0

2.

Amazon Prime Rewards Visa Signature Card

$100 Amazon Gift card

1%-5%

 

$0

3.

Citi® Double Cash Card

 

 

$200

 

Flat 2%

$0

4.

Capital One SavorOne Cash Rewards Credit Card

 

$200

1%-8%

 

 

$0

5.

Citi Custom Cash Card

 

20,000 Thankyou points worth of $200.

1%-5%

 

$0

 


1. Chase Freedom Flex

Best Credit cards with no annual fees

The Chase Freedom Flex card could be a good fit for those who want to earn cash back or Ultimate Rewards points in a wide variety of categories with no annual fees.

 

This card earns cash back in the form of Ultimate Rewards points that are at a rate of 1 point per 1% and these points are worth of one cent each.

 

Annual Fee- $0

 

Initial Bonus – $200 cash back

New cardholders need to spend $500 within 3 months of opening an account to get the Chase Freedom Flex card’s, 20,000 Ultimate Rewards points initial bonus worth $200. 

 

Intro APR Offer – 0% intro APR for 15 months on purchases and balance transfers

 

Regular APR – Variable 17.24% – 25.99%

 

Other Benefits-

·       5% Bonus up to $1,500 on combined purchases in new bonus categories activated each quarter. For Quarter from July 22 to sept 2022 bonus rewards categories are-   Gas stations, Car rentals, Movie theaters, Select live entertainment.

·       5% cash back on travel purchased through Chase platform.

·       3% cash back on drugstores and dining including takeout.

·       1% cash back on all other purchases.

 

Pros

·       Substantial one-time bonus of $200 after spending just $500 in first three month for a no-annual-fee card.

·       Variety of rewards categories.

 

Cons

·       3% foreign transaction fee.

·       It is must to activate quarterly rotating 5% cash-back categories.

 

2. Amazon Prime Rewards Visa Signature Card 

Best Credit cards with no annual fees


Anyone with Amazon Prime membership can go for Amazon Prime Rewards Visa Signature Card as this card is no annual fee card and offers 5% cash back on purchases at Amazon and Whole foods market.

 

Every 100 points is worth $1 on Amazon.com, making each point worth one cent.

 

Here is quick benefit summary that you might find useful to consider before giving a shot to any credit card –

 

Annual Fee- $0

 

Initial Bonus – $100 Amazon Gift card 

 

Regular APR – Variable 16.49% – 24.49%

 

Other Benefits-

·       5% cash back every time on purchase made at Amazon and Whole Foods Market

·       2% cash back on purchases at gas stations, drug stores and restaurants.

·       1% cash back on all other purchases.

·       No Foreign transaction fees.

 

Pros

·        Good cash back offers.

·       Easy redemptions options.

 

Cons

·       Requires a paid membership to have this card

·       No introductory offer on APR

 

3. Citi® Double Cash Card

Best Credit cards with no annual fees


This card is one of the most appealing cards with 2% cashback and solid reward redemption options at no annual fees.

 

Here is quick benefit summary that you might find useful to consider before giving a shot to any credit card –

 

Annual Fee- $0

 

Initial Bonus – $200

New cardholders need to spend only $1500 within 6 months of opening an account to get initial bonus worth $200 as cash back. 

 

Regular APR – 0% intro APR offer on balance transfer for 18 months.

After the intro period 16.24%-26.24% Variable rate applies

 

Other Benefits-

·       Up to 2% cash back on all purchases (1% when you make a purchase, plus 1% as you pay that purchase off) 

·       Lost Wallet Service that replaces your card and provides you with emergency cash

 

Pros

·       No annual fee

·       0% intro APR offer period

·       Outstanding flat-rate cash-back rewards on your unlimited purchases

 

Cons

·       $25 minimum for redemption

 

4. Capital One SavorOne Cash Rewards Credit Card

Best Credit cards with no annual fees


If you are in search of credit card which offers great rewards on categories like restaurant dining, grocery shopping, streaming services, entertainment, hotel and rental cars booking etc then, this no annual fee card can be best fit for you.

 

Here is quick benefit summary that you might find useful to consider before giving a shot to any credit card –

 

Annual Fee- $0

 

Initial Bonus – $200

New cardholders need to spend only $500 within 3 months of opening an account to get initial bonus worth $200 as cash bonus. 

 

Regular APR – 0% intro APR offer on purchase and balance transfer for 15 months.

After the intro period 16.49%-26.49% Variable rate applies.

 

Other Benefits-

·       8% cash back on Capital One Entertainment purchases and on tickets purchase at Vivid Seats.

·       5% cash back on hotels and rental cars booking Capital One travel

·       3% cash back on dining, entertainment, popular streaming services, and at grocery stores.

·       1% cash back on all other purchases

·       No foreign transaction fees

·       Travel accident insurance

 

Pros

·       Generous Cash back rewards in multiple categories

·       No foreign transaction fees.

 

Cons

·       High Credit score required.

 

5. Citi Custom CashCard

Best Credit cards with no annual fees


This is no annual fees card for those who want to earn lucrative rewards without giving thought on choosing a bonus spending category or activating their cash back each quarter. 

 

Here is quick benefit summary that you might find useful to consider before giving a shot to any credit card –

 

Annual Fee- $0

 

Initial Bonus – $200

New cardholders need to spend only $750 within 3 months of opening an account to get initial bonus worth $200 as 20,000 ThankYou points.

 

Regular APR – 0% intro APR offer on purchase and balance transfer for 15 months.

After the intro period 16.24%-26.24% Variable rate applies.

 

Other Benefits-

·       5% cash back on your highest eligible spending category each billing period up to $500.

·       1% cash back on all other purchases

 

Pros

·       Generous Cash back rewards for a no annual fees card.

·       One can max it out by always spending $500 in your top bonus category that will get you $25 cash back per billing cycle, which can add up to $300 per year.

·       Intro APR offer

 

Cons

·       Foreign transaction fees.

 

 

FAQ – Best Credit cards with no annual fees


What is a credit card at no annual fees?

 

A no-annual-fee credit card does not charge you each year for using the card but offers a variety of rewards, perks and benefits.

 

However, there are cards that have annual fees as they offer more premium perks so, to offset administrative services and technology and service related cost they charge a fixed fee each year.

 

However, you should always choose a card, which meet your requirements, and at the same time, you are able to maximize your rewards at max.

 

If you like to stick to your budget and your purchases are average then, having a no annual fee card is terrific choice without needing to worry about whether your rewards offset the yearly fee.

 

How do I choose the best credit cards with no annual fees?

 

Here is how to choose the best airline credit card:

·       Decide on type of rewards you need most and their practical uses in your spending requirements. Figure out whether cashback suits your requirement or any other reward category.

 

·       Compare the cards based on annual fees and rewards rate & categories as well as sign up bonus and most importantly spending requirement to get initial bonus offers.

 

·       If you are opting for an annual fee card, always make sure that rewards and cashback offered by that card able to offset the yearly fees plus you get some extra useful benefit compared to no annual fee cards. Else, there is no point to spend hefty amount on annual fee of credit card.

 

 

Who should get a no-annual-fee credit card?

 

If you fall in any of the following categories, then you should always go for no annual fee cards-

 

·       First-time credit card owners

·       Looking for ways to rebuild your credit score

·       If you are having too many cards and finding difficulty to manage them

·       If your existing card with an annual fees is not fitting your requirements

 

If you spend more on your credit card each month, it is likely that the annual fee version of the card is a better investment long term.

 

However, individuals who will not be spending that much on a credit card each month then the no-annual-fee version can be a best choice for them.

 

Which are best credit cards with no annual fees?

 

The definition of best credit cards with no annual fee is where you can maximize the rewards earning while minimizing costs of owning them.

 

So, a card with no annual fees along with generous sign up offer is a good way to minimize the costs of cards.

 

We have shared best credit cards with no annual fees that offers competitive cash backs and rewards.

 

 

Bottom line


The idea behind giving preference to no annual fee card with good sign up bonus is – as to meet the sign-up bonus criteria you need to spend first to fulfill the minimum purchase criteria within given time line. So, it is not wise to spend on hefty annual fees to enjoy some extra sign-up bonus.

 

In this post we have analyzed various cards depending on various factors like sign up bonus, reward points, promotional offers, APR rates etc. As always, your best bet should be to find a card that offers great bonus category rewards on the expenses you need to do most frequently with minimum cost as possible.

 

Finally, if you are paying annual fees on your credit card, which offers generous sign up offer, you should always review your card offerings every year before renewal due date as there might be change in your requirements and your existing card might be not as useful as it was earlier.



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