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Best no annual fee credit cards of October 2024

The best no annual fee credit cards offer excellent rewards, welcome bonuses, intro 0% APR periods and even extra perks. CardRatings editors name the top cards that don’t charge annual fees, but still offer plenty of value. View More

If “no annual fee credit card” makes you think of a piece of worthless plastic that doesn’t do much for you besides take up space in your wallet, than it’s a good thing you’re here. We’ve compiled a solid list of no annual fee credit cards from our partners that are more – MUCH more – than space hogs in your wallet. The reality is that no annual fee credit cards don’t necessarily mean you’re getting a lesser card than you do when you agree to pay an annual fee. The best no annual fee credit cards out there offer plenty in the way of rewards, features and perks for people who want all those things but aren’t ready to pay an annual fee for them.

These cards routinely show us that you CAN, after all, get something for nothing whether you’re looking for cash-back rewards, travel rewards, extra perks for your small business or something else. Take a look at our picks for top no annual fee credit cards. View Less

author Brooklyn Lowery
Terms apply; see the online credit card application for full terms and conditions of offers and rewards.

List of Winners

  • CardName – Best for Travel Rewards
  • CardName – Best for Rotating Categories
  • CardName – Best for Earning Ultimate Rewards Points
  • CardName – Best for Balance Transfers
  • CardName – Best for Everyday Purchases
  • CardName – Best for Flat-Rate Cash Back
  • CardName – Best for Dining Out
  • CardName – Best for Choosing Rewards Categories
  • CardName – Best for Small Business
  • CardName – Best for Earning Membership Rewards Points
  • CardName – Best for Business Travel Abroad

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editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Travel rewards cards often come with annual fees, which is why a card that features no annual fee, no foreign transaction fees and healthy rewards opportunities really catches our attention.

Read our full CardName review.

Welcome Bonus
25,000 points Earn 25,000 online bonus points – worth $250 in travel or dining statement credit – after you spend $1,000 in the first 90 days
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn 25,000 online bonus points – equal to $250 in travel or dining – after you spend $1,000 on purchases in the first 90 days.

Foreign Transaction Fees: foreign_fee

The Rewards: Earn 1.5 points per $1 spent on every purchase. Bank of America Preferred Rewards clients earn 25%-75% more on every purchase.

PROS:

  • Being able to redeem credit card rewards to cover dining purchases could transform your travel budget.
  • The 25,000 online bonus points you can earn after spending $1,000 in the first 90 days is very good for a no-annual-fee travel rewards card.

CONS:

  • A flat-rate rewards card is easy, but it isn't the fastest way to earn rewards.
  • There aren't a lot of extra perks and features on this card, which isn't unexpected given it doesn't charge an annual fee, but it's still something to keep in mind.
Current Scores Past Scores
Overall Score 80.3 78.6
Rewards Program Satisfaction 7.9 7.7
Customer Service 7.9 8.2
Website/App Usability 8.6 7.9
Likelihood of Continuing to Use 8.3 8.3
Recommend to a Friend/Colleague 8.0 7.6

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Rotating category cash-back cards offers some of the highest possible rewards in the widest variety of everyday spending categories. This is one card not to overlook.

Read our full CardName review.

Welcome Bonus
Cashback Match Discover will match all the cash back you earn during your first year as a cardholder
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

PROS:

  • You can earn 5% cash back in multiple categories (up to a quarterly max and activation is required) which is one of the highest rewards rates available for day-to-day purchases.
  • The welcome bonus could be quite lucrative thanks to the Cashback Match offer.
  • This card also offers a nice intro 0% APR period of 15 months on purchases and balance transfers (then, RegAPR)

CONS:

  • There are a lot of purchase categories to keep track of which can get confusing. You’ll also need to remember to activate the 5% rotating categories.
  • The welcome bonus could be worth quite a lot but it's a delayed gratification situation – you'll have to wait to the end of your first year as a cardholder for Discover to match the cash back you earned during that year.
Current Scores Past Scores
Overall Score 80.3 84.9
Rewards Program Satisfaction 8.0 8.5
Customer Service 7.8 8.5
Website/App Usability 7.7 8.7
Likelihood of Continuing to Use 8.9 8.9
Recommend to a Friend/Colleague 8.1 8.2

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This is a tiered cash-back card that accumulates rewards as Ultimate Rewards bonus points. Those points can be combined with the points you earn through some other Chase cards (see the Pro Tip below), which means that you can think of this card as either a cash-back card or, if you want, a travel rewards card since points through Chase Travel℠ are coveted travel rewards.

Read our full CardName review.

Intro Offer
Additional 1.5% cash back Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back! Also, take advantage of an intro period of zero interest on purchases and balance transfers for the first 15 months (then, RegAPR).

Foreign Transaction Fees: foreign_fee

The Rewards: Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on Chase travel; 3% cash back on drugstore purchases and dining; and unlimited 1.5% cash back on all other purchases.

PROS:

  • The points that are earned with the Freedom Unlimited® card can be combined with the Ultimate Rewards points earned from other Chase cards, like the CardName, and redeemed to possibly make the points earned worth even more.
  • With at least 1.5% cash back earned on every purchase this card has a very good and simple rewards earning rate.

CONS:

  • Chase Freedom Unlimited® does charge a foreign transaction fee of foreign_fee, so you may want to use a different card while travelling abroad.
  • There are a lot of tiers to keep up with to truly maximize your earning; therefore, if simplicity is your goal, you might look for a flat-rate card instead.
Current Scores Past Scores
Overall Score 78.9 85.0
Rewards Program Satisfaction 7.8 8.4
Customer Service 7.7 8.6
Website/App Usability 8.0 8.9
Likelihood of Continuing to Use 8.6 9.0
Recommend to a Friend/Colleague 7.9 8.1

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

CardName is the option that offers at least 1.5% on all your purchases, but CardNamediscontinued gives you the chance to earn up to 5% in those rotating quarterly categories, so you could choose to use CardName for all of the purchases that don't earn 5% cash back with CardName. Yes, it takes a little thought and planning, but it's worth more cash back to you. (Information related to Chase Freedom FlexSM has been collected independently by CardRatings and was neither reviewed nor provided by the card issuer)

Going a step further, all of your rewards for both cards accumulate and can be combined in a single bucket. If you also happen to be a CardNamediscontinued, you can combine all your points under the Sapphire Preferred® card and when you redeem them for travel through Chase Travel℠, they are worth 25% more.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: A flat-rate cash-back rewards card that offers you as much as 2% cash back on your purchases is certainly a card worth considering. As an added perk, this card features a lengthy intro 0% APR for 18 months on balance transfers so it could save you some serious interest money if you have an existing balance on another card that you need a little extra time to pay off (after the intro period, the APR becomes RegAPR. Citi is a CardRatings advertiser

Read our full CardName review.

Intro 0% APR
18 months on balance transfers Intro 0% APR for 18 months on balance transfers (then, RegAPR)
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Intro APR offer: 18 months of no interest on balance transfers (then, RegAPR; it's a solid opportunity to put, or rather keep, some money in your wallet.

Foreign Transaction Fees: foreign_fee

Welcome Bonus: Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Rewards: Earn 2% on every purchase with unlimited 1% cash back when you buy, and an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.

PROS:

  • One of the largest benefits of this card is the ability to earn unlimited 1% cash back when a purchase is made and an additional 1% when you pay for the purchase – encouraging you to pay off your purchases made with card.
  • Earning effectively 2% cash back on a card (after purchases have been paid) for all purchases is very good in the no-annual-fee card space.
  • For a little extra bonus, the card is offering an intro 0% APR on balance transfers (then, RegAPR), allowing you the flexibility to transfer in another balance and save on interest.

CONS:

  • Even though the card does not have an annual fee, it does charge a balance transfer fee: BalanceTransferFees
  • This card does have a foreign_fee foreign transaction fees, so it may be the card that you leave at home for your next international trip.
  • The intro 18 months 0% APR on balance transfers (then, RegAPR) is one of the best on the market, but this does not apply to new purchases, so if you are transferring in other balances this is a benefit but not if you are looking to carry a balance with new purchases made.
Current Scores Past Scores
Overall Score 77.2 84.7
Rewards Program Satisfaction 7.9 8.5
Customer Service 7.5 8.4
Website/App Usability 6.9 8.3
Likelihood of Continuing to Use 8.2 8.8
Recommend to a Friend/Colleague 7.7 8.4

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Tiered rewards credit cards require sort of an intermediate level of credit card savvy to make them really work for you. They require a bit more planning and strategy than a flat-rate card, but not nearly as much as a rotating categories or cardholder-choice card. Likewise, they often give you an intermediate level of rewards earning potential – likely more than a flat-rate card offers and less than a strategically used rotating categories/cardholder-choice card offers. American Express is a CardRatings advertiser.

Read our full CardName review.

Welcome Bonus
$200 statement credit Earn a $200 statement credit after you spend $2,000 in purchases on your new card within the first six months.
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Welcome Offer: Earn a $200 statement credit after you spend $2,000 in purchases on your new card within the first six months. You can also enjoy an introductory period of zero interest on purchases and balance transfers for the first 15 months (then, RegAPR).

Foreign Transaction Fees: foreign_fee

The Rewards: Cardholders earn 3% cash back at U.S. supermarkets, U.S. gas stations and on U.S. online retail purchases (up to $6,000 spent in each category per year, then 1%), and 1% back on other eligible purchases.

PROS:

  • This card has excellent everyday rewards earning of 3% back at U.S. supermarkets, U.S. gas stations and U.S. online retail purchases (up to $6,000 spent annually in each category, then 1%) and 1% back on other eligible purchases.
  • The new cardholder welcome bonus offer is solid for a no-annual-fee card.
  • Take advantage of an intro 0% APR for 15 months on purchases and balance transfers (then, RegAPR) that can help to save you some money on interest payments.

CONS:

  • Foreign transactions fees with the card should dissuade you from using it internationally or you will be paying these fees with every purchase made.
  • The bonus cash back earning categories can be great for those that spend in these categories regularly, but if not there are likely cards that have either more broad bonus categories or categories that fit your spending habits better.
Current Scores Past Scores
Overall Score 82.2 78.0
Rewards Program Satisfaction 8.2 7.8
Customer Service 8.1 8.1
Website/App Usability 8.4 7.9
Likelihood of Continuing to Use 8.8 7.7
Recommend to a Friend/Colleague 8.1 7.6

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Four words: No foreign transaction fees. That rarity among cash-back rewards cards, plus the rewards-earning opportunity, make this an excellent no-annual-fee option in our books.

Read our full CardName review.

Welcome Bonus
$200 Earn a one-time $200 cash bonus after you spend $500 in the first three months
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn a one-time $200 cash-back bonus after spending just $500 on purchases with your new card in the first three months. This card also offers a solid introductory 15 months of no interest on purchases and balance transfers (then, RegAPR; balance transfer fee applies).

Foreign Transaction Fees: foreign_fee

The Rewards: Earn an easy-to-understand 1.5% cash back on every purchase. There are no caps, categories or hoops to worry about.

PROS:

  • With a 0% intro APR period of 15 months for new purchases and balance transfers, you can make a large purchase without incurring additional interest charges (balance transfer fee applies). After the intro, the APR becomes RegAPR.
  • The 1.5% cash back earned on every purchase is easy-to-remember and can be lucrative. It's a nice combo for a no-annual-fee card.
  • There are no foreign transaction fees charged by this card, a rarity among cash-back rewards cards.

CONS:

  • The 1.5% earned on every purchase is great for straightforward earning, but you can earn higher rewards on specific categories with different cards.
  • Savvy credit cardholders may want to have the Quicksilver in their wallet and use it in tandem with a card with rotating spending categories to earn the most rewards possible on purchases made.
Current Scores Past Scores
Overall 77.7 82.4
Rewards Program Satisfaction 7.7 8.1
Customer Service 7.5 8.3
Website/App Usability 8.2 8.6
Likelihood of Continuing to Use 8.5 8.8
Recommend to a Friend/Colleague 7.6 8.0

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This is a card designed to reward all your food adventures, from dining out to experimenting in your own kitchen. And, since everyone has to eat and this card doesn't even charge an annual fee, this could be the perfect card for a lot of different people.

Read our full CardName review.

Welcome Bonus
$200 Earn a one-time $200 cash back bonus after you spend $500 in the first three months
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn a one-time $200 cash-back bonus after you spend $500 on purchases within your first three months as a cardholder.

Foreign Transaction Fees: foreign_fee

The Rewards: Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart and Target); unlimited 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply); 8% cash back on Capital One Entertainment purchases; and 1% cash back on all other purchases.

PROS:

  • No foreign transaction fees allows you to use this card with peace of mind while traveling abroad.
  • Unlimited 3% cash back earned on dining and entertainment is one of the best rewards earning rates on the market for a no-annual-fee card.
  • 0% intro APR on purchases and balance transfers for 15 months (then, RegAPR; balance transfer fee applies) allows you to make purchases for that period of time (or transfer an existing balance) without incurring additional interest fees.

CONS:

  • As this card is designed as a cash-back rewards card, it is difficult to redeem rewards earned for things other than cash back and still get good redemption values.
  • The annual fee version of this card, the CardNamediscontinued, comes with additional features like higher cash back earning rates. It may be worth the fee in comparison to this card if your spending is frequent in the rewards categories.
Current Scores Past Scores
Overall Score 79.2 84.5
Rewards Program Satisfaction 8.0 8.4
Customer Service 7.5 8.4
Website/App Usability 8.8 9.0
Likelihood of Continuing to Use 8.7 8.5
Recommend to a Friend/Colleague 7.5 8.4

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: This cardholder-choice cash-back rewards card offers solid rewards on everyday purchases, but it's the opportunity to choose a category in which you'll earn top rewards (from among a list of six options) that makes it truly special.

Read our full CardName review.

Welcome Bonus
$200 Eanr a $200 online cash rewards bonus after you spend $1,000 in the first 90 days
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn $200 online cash rewards bonus after you spend at least $1,000 on purchases in the first 90 days of account opening.

Foreign Transaction Fees: foreign_fee

The Rewards: Earn 3% cash back in the category of your choice - now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases. You can update your choice category for future purchases once each calendar month using the mobile banking app or online banking or it will remain the unchanged if you don't choose to update. There is no expiration on rewards.

If you are a Bank of America Preferred Rewards client with the bank, you can receive 25%-75% more cash back on each purchase depending on your tier.

PROS:

  • One of the largest benefits of this card revolves around the ability to choose your preferred top rewards-earning category so you're earning top rewards where you spend the most (up to $2,500 in combined choice category/grocery store/wholesale club purchases quarterly).
  • If you are a Preferred Rewards client at Bank of America, you can earn 25%-75% more on every purchase depending on your Preferred Rewards tier (tiers are based on total account balances).
  • Take advantage of a intro_apr_rate intro_apr_duration as well as on balance transfers made within the first 60 days. After the intro periods, the APR becomes a RegAPR.

CONS:

  • This card does charge foreign transaction fees, so this is one you may want to leave in your wallet when traveling internationally.
  • If you aren’t a Bank of America Preferred Rewards client, you don’t get nearly as much cash back value out of the card.
  • Be aware that you can only change your 3% rewards earning category once per month, so if you have a large upcoming expense in a different category than you already chose you may not earn the full cashback potential of the card.
Current Scores Past Scores
Overall Score 81.1 80.2
Rewards Program Satisfaction 8.1 8.1
Customer Service 7.9 8.1
Website/App Usability 8.6 8.1
Likelihood of Continuing to Use 9.0 7.9
Recommend to a Friend/Colleague 7.7 7.8

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Business owners are always looking to cut expenses, so a no-annual-fee credit card that rewards you for your everyday business purchases is a nice find. And, this one offers you up to 5% cash back on some common business purchases.

Read our full CardName review.

Welcome Bonus
$350, then an additional $400 Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. If you happen to have a big business expense coming up, you'll be glad to know this card also offers an intro period of 12 months no interest on purchases (then, RegAPR).

Foreign Transaction Fees: foreign_fee

The Rewards: Earn 5% cash back on the first $25,000 spent in combined office supply store and internet, cable and phone services each anniversary year. Also, earn 2% cash back on the first $25,000 spent in combined gas station and restaurant purchases each anniversary year. You'll earn 1% cash back on everything else.

PROS:

  • For frequent spend categories like office supplies, internet, cable and phone services, the 5% cash back earned, up to $25,000 annually, is among of the best in the market.
  • The intro 0% APR on purchases for 12 months (then, RegAPR) is a great benefit for a business owner with some start-up costs or a major purchase on the horizon.
  • The new cardholder welcome bonus is a solid offer, especially for a no-annual-fee card.

CONS:

  • The $25,000 annual cap on bonus category spend could be limiting if you frequently make purchases in these categories.
  • This card does charge foreign transaction fees.
  • The 5% cash back is specific to these categories, so if your business expenses are more varied, you might be better off with a card that offers bonus rewards on all purchases instead of just in select categories.
Current Scores Past Scores
Overall Score 78.0 78.7
Rewards Program Satisfaction 7.7 7.7
Customer Service 7.8 8.0
Website/App Usability 7.9 8.2
Likelihood of Continuing to Use 8.1 7.6
Recommend to a Friend/Colleague 7.7 8.0

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

There is a family of Chase Ink small business credit cards and, in a number of ways, they actually work best in combination thanks to the unique features of each. In particular, the no-annual-fee CardName (described below) offers 1.5% cash back on every purchase. That means it's a great card to use in addition to the CardName so that you can earn 1.5% back on all the purchases that don't earn at a higher rate with the other Ink card. If you want to get really fancy (and venture beyond no-annual-fee cards), the CardName offers yet again different rewards earning opportunities and, more importantly, offers cardholders 25% more value when you redeem your points for travel through Chase Travel℠. Yes, there is a AnnualFees annual fee, but it just might be worth it for your business.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: No two businesses are exactly alike, which is why it's nice that this card offers cardholders the opportunity to earn 2x points on all your eligible purchases up to $50,000 spent in a calendar year (then, one point per $1 spent) terms and limitations apply. No categories to worry about means this card could be an excellent fit for just about any small business.

Read our full CardName review.

Welcome Bonus
$15,000 points Earn 15,000 Membership Rewards points after you spend $3,000 in eligible purchases on the card within your first three months of card membership.
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Welcome Offer: Earn 15,000 Membership Rewards points after you spend $3,000 in eligible purchases on the card within your first three months of card membership. Plus, but you can take advantage of an introductory no interest on purchases for 12 months (then RegAPR).

Foreign Transaction Fees: foreign_fee

The Rewards: Cardholders earn two points per $1 spent on the first $50,000 in eligible purchases each calendar year. You earn point per $1 on all your eligible purchases after you reach the spending cap (terms and limitations apply).

PROS:

  • The rewards earning rate is solid at two-times points per $1 spent on all eligible purchases up to $50,000 spent per calendar year, then 1 point. A $50,000 annual spend cap on bonus rewards is great for a card with no annual fee.Terms and limitations apply.
  • With Expanded Buying Power, you can spend beyond your credit limit. Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the card, your payment history, and credit record.
  • With the 0% intro APR offer on purchases for 12 months (then RegAPR) you can make some initial business purchases without incurring additional fees.

CONS:

  • This card does charge a foreign transaction fee, so it may be best to leave this one at home while abroad.
  • If your spending is beyond the $50,000 annual spend cap on bonus rewards, a card with no spending cap or at least a higher one might translate to more rewards.
Current Scores Past Scores
Overall Score n/a 79.9
Rewards Program Satisfaction n/a 8.0
Customer Service n/a 7.9
Website/App Usability n/a 8.3
Likelihood of Continuing to Use n/a 7.9
Recommend to a Friend/Colleague n/a 8.0

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

card_name discontinued_disclaimer 

editor_rating
 
foreign_transaction_fee annual_fees
Why We Like It: Flat-rate cash back means one less thing for busy business owners to think about. Rack up cash-back rewards no matter where your (or your employees) use the card.

Read our full CardName review.

Welcome Bonus
$500 Earn $500 cash back when you spend $4,500 in the first three months
Annual Fee
AnnualFees
Regular APR
RegAPR
Credit Score
CreditScoreNeeded

Bonus: Earn a $500 bonus when you spend $4,500 in the first three months of account opening.

Foreign Transaction Fees: foreign_fee

The Rewards: Earn a flat 1.5% cash back on all your purchases; there are no spending caps or categories to keep up with.

PROS:

  • With unlimited 1.5% cash back earned on all purchases made, this card makes rewards earning very simple and straightforward.
  • The initial card member bonus of $500 when you spend $4,500 in the first three months of account opening is generous.
  • There are no foreign transaction fees with this card so you can use it while travelling internationally without additional fees incurred. Even if your business doesn't travel abroad often, you could save those fees if you purchase with merchants who charge in a foreign currency.

CONS:

  • If your business spend is in particular categories, there may be a better card that will help you to earn maximum rewards in the categories that your business frequently spends in.
  • If you spend more than $1,000 monthly with this card, especially after the first year, you may be better off with the annual fee version of this card, CardNamediscontinued. See Rates and Fees

We have not polled this card yet, but would love to hear your thoughts on it if you are a cardholder. Comment below or email us at editor@cardratings.com to share more about your experience.

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At CardRatings.com we discuss the most up-to-date news and trends within the credit card space. Since we first pioneered the concept of online credit card reviews in 1998, our team of financial experts has provided comprehensive and unbiased credit card reviews for more than 175 cards, plus hundreds of additional resource articles to help educate everyday cardholders so they can feel more confident about their card choices. All our content is written and reviewed by industry experts. Though our content may occasionally contain references to products from our partners, we maintain strict editorial integrity and advertiser relationships and compensation never influences ratings, reviews or featured products. The difference between editorial content and advertising must always be clearly stated. Learn more.

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What does “no annual fee” mean?

When a card has no annual fee, it means you do not get charged a yearly fee for holding an account. You can think of it as a kind of membership fee.

Depending on the card, not being charged an annual fee can save you around $25 to as much as $500 each year (obviously, a $500 fee is not at all common, though that high and higher annual fees are out there). Although this can be a significant factor in choosing a certain credit card, it’s important to keep in mind that you may still be charged other fees, such as late payment, balance transfer and international purchase fees, none of which are directly tied to the annual fee.

No-annual-fee credit cards are a good option for people who do not use credit cards frequently, but want to keep an account open to improve or maintain their credit. No annual fee means you don’t have to think about whether the rewards, perks and features of the card are valuable enough to you to offset it, but that doesn’t necessarily mean that you should never consider a card with an annual fee.

Do you have to pay an annual fee when you don’t use the credit card?

Yes, if you have an annual fee card, you will be responsible for this charge even if you don’t use your card. The annual fee isn’t tied to transactions on the card, but is rather the membership fee you pay for having it. You could think of it as that gym membership you never use – until you cancel it, you still pay for the membership regardless of whether your sneakers touch a treadmill.

If you have an annual fee card in your wallet that no longer meets your needs, you have a couple of options:

  1. Close the card. While it’s certainly possible to close a credit card that no longer meets your needs (assuming your account if fully paid up), it’s likely not the best idea. That’s because the length of your credit history plays into your credit score. Closing accounts – particularly for cards you’ve held for awhile – can stunt your history. In many cases, option 2 is a better bet.
  2. Product change/downgrade your card. Most banks will allow you to switch one card for another in the bank’s portfolio while maintaining your same account. That means that you can keep your credit history intact and you won’t be dinged with a hard credit pull like you generally are when applying for an all-new card. If you have a card that charges an annual fee, but you no longer need that card, you can contact your bank and ask how to product change your card to a no-annual-fee card offered by the bank. If you’re downgrading from a rewards card to another card that offers the same rewards currency, you’ll likely be able to hold on to your rewards this way.

Remember, even if you don’t mind paying the fee for a card you aren’t using, banks can close unused cards, which is likely to negatively affect your credit. Make sure to use the cards you have – responsibly, of course – so you can keep that long history of responsible credit card usage going.

Are annual fees ever worth it?

Yes, a credit card annual fee can absolutely be worth it. Whether an annual fee is worth it, though, depends on how you are going to use a card and what the card offers you in terms of perks, features, rewards and more. In an ideal scenario, the annual fee you pay would be well more than offset by the value of the rewards and features the card offers you. That’s often easy to do with a new cardholder signup bonus in your first year, for instance, but the circumstances could change after that initial bonus and you’ll need to assess whether the ongoing rewards justify whatever the annual fee is.

In other cases, you may choose a card with an annual fee to improve your credit. There are a number of cards geared toward applicants looking to build or rebuild their credit that do charge annual fees. Since, maintaining a good history with a credit card can help you raise your credit score and build a solid credit history, it may very well be worth it in the long run to carry a card with an annual fee for a little while.

Learn more about when annual fees are worth it and see our favorite cards with annual fees

What is the best no-annual-fee credit card?

The CardName offers a lot for a no-annual-fee credit card. CardRatings experts choose this card as one of the best no-annual-fee cards because it offers at least 1.5% cash back on every purchase with the opportunity of more in select categories, but there are no revolving categories to manage.

Another reason this card is one of the best cards with no annual fee is because you earn cash back in the form of points through Chase Travel, which can be combined with your points from other Chase cards. This means your cash back can be turned into travel rewards. Also, the card earns an extra 1.5% cash back on purchases during the first year (up to $20,000 spent). All of this with no annual fee.

Can you get a no-annual-fee credit card with bad credit?

There are plenty of no-annual-fee credit cards available for people with bad or no credit. In fact, in many cases, it’s cards for people with excellent credit that charge annual fees. That’s because those are the cards most likely to feature all the perks and rewards that would justify an annual fee.

Now, a common type of card for people looking to build or rebuild credit is called a secured credit card. While those cards don’t necessarily charge an annual fee (though some do), the definition of a secured credit card is that cardholders must secure their line of credit with a refundable deposit. So, it’s not an annual fee, but it is a one-time refundable deposit to establish your line of credit.

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

Just about anyone can find a no-annual-fee card that offers some value to their wallet. The fact is, there are some excellent perks and features to be had with credit cards that charge annual fees. If your credit is good and you’re financially responsible, taking advantage of those perks offered by cards with an annual fee is likely worth it. However, you basically have nothing to lose by also carrying a card that DOESN’T have an annual fee and, in fact, you may find yourself raking in additional rewards or being glad you have that credit available in the case of an emergency. 

Still not convinced? Let’s get a bit more specific about who can benefit most from these cards:

1. Someone supplementing the rewards of another card. There are a lot of credit card rewards programs out there to which multiple cards belong. For instance, you can earn Chase Ultimate Rewards® points with any number of cards – several that charge annual fees and several that don’t. If you’re interested in maximizing your rewards with the Ultimate Rewards® program, it may very well make sense to carry both a card like Chase Sapphire Preferred®, which charges an annual fee, as well as Chase Freedom Unlimited, which does not; that way you can use the best card for a given purchase in order to earn top rewards. This strategy, in fact, is one of the key reasons you might want to carry multiple cards from a single bank.

2. Someone needing a 0% interest period. You may have noticed a trend in the cards above in that they often feature some kind of zero interest introductory period, whether for purchases or balance transfers or both. That means that not only can these cards save you money when it comes to no annual fee, they may also be able to save you a bundle when it comes to interest. 

Very often, cards with annual fees focus their features and perks in areas besides the interest rate and it can be a bit harder to find a no-interest period on cards with annual fees.

3. Someone who wants the security of a credit card, but won’t use it often enough to offset an annual fee. Let’s face it: Credit cards are simply more secure to carry, particularly when you travel, than loads of cash (or a debit card, for that matter, thanks to how the laws are written). If you lose a credit card, your credit card company has you protected against fraud. Lose a wad of cash or your debit card, and you could be out hundreds of dollars. Just having the card available to you so that you can travel and shop securely isn’t a bad idea. And, who knows, you just might like the rewards you rake in along the way.

4. New credit card users. Navigating the world of credit cards can be daunting for a newcomer. Sometimes it’s hard to determine whether you’ll use it enough to offset the annual fee another card might be charging. That’s why a no-annual-fee credit card could be an excellent “guinea pig” of sorts. Use the card for a year, see how much you like earning those rewards (and whether you earn enough to offset an annual fee) and then decide whether you would like the perks and features of a card with an annual fee. 

One last note, if you do decide to venture to another card over time, feel free to keep your no-annual-fee credit card open. In general, it’s better for your credit to keep the card open and it isn’t costing you anything to keep it around.

author
Brooklyn Lowery
Editor & Credit Card Expert

A journalist for nearly 20 years, Brooklyn has published work on a broad range of topics including personal finance and business as well as travel and human interest pieces. As a finance expert, she has provided commentary on credit cards, card rewards and personal finance for outlets including Forbes, Fox Business and many others. Her own wanderlust and travel experiences...Read more


Survey Methodology: CardRatings commissioned Op4G in September 2023 to conduct surveys among 1,869 cardholders nationwide. CardRatings website analytics from Jan. 1, 2023-Aug. 31, 2023 were used to determine a selection of the most popular cards and additional cards were included to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents’ scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to “How likely are you to recommend this card to a friend, coworker or family member?” was double weighted. “Current Scores” reflect scores from the most recent survey (2023); “Past Scores” reflect scores from the 2022 survey.

Ranking Methodology: CardRatings experts review the fine print, details, perks, rewards and features of hundreds of cards and compare them side-by-side with similar cards. A card that makes an excellent balance transfer card may not make a great cash-back rewards card even though it offers those rewards. While the Best of the Year list is announced annually, that list – and all other “best of” lists on CardRatings – are regularly reviewed and updated as issuers change the terms and features of each card often.

To see the rates and fees for the American Express cards featured in this post, please visit the following links: CardName (See Rates and Fees); CardName (See Rates and Fees)

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

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