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Reviewed / Naidin Concul-Ticas
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Chase's Freedom Flex℠ card gives you the power to decide when and where you want cash back, as well as general cash back on all purchases. Read More
This cash-back card with ample returns on supermarket and gas station spending has what everyday shoppers are looking for. Read More
Uniquely, this card earns 1% cash back on a purchase and an additional 1% when you pay it off. The 2% cash back on all purchases has great value. Read More
While most secured cards stake their value only on accepting those with poor credit, this card does that and offers great rewards with no annual fee. Read More
With this card you must have a Prime membership. If you do, you’ll earn Amazon-specific rewards like points and gift cards. Read More
Don’t sleep on rewards credit cards with no annual fee, folks. Many come with the same perks you might find with premium credit cards, such as a sign-up bonus, intro APR on purchases, no foreign transaction fee, and ongoing rewards opportunities.
The right no-annual-fee card to add to your wallet depends on your credit and where you spend money. If you have bad credit or limited credit, a secured card that offers free credit scores could help you get on the right track. For those with decent credit looking for a no-fuss rewards program, the Citi® Double Cash card is one of our favorite no-annual-fee credit cards because it gives unlimited cash back with no categories to keep track of.
Whether you’re looking for a card that offers first-year perks or rewards for late-night Amazon shopping hauls, there’s a no-annual-fee card on this list to consider.
Best for First-Year Perks: Discover it® Cash Back
None of these cards have an annual fee. While this can be great news for your wallet, the downside is that these options generally offer fewer perks than similar cards with annual fees from the same issuers. For example, the Chase Sapphire Preferred®, which has a $95 annual fee, offers more travel perks, such as no foreign transaction fees, than the Chase Freedom Flex℠, which has no annual fee. If you're set on a card with no annual fee, the cards on this list are the best out there.
Watch out for administrative fees. Even though you won’t pay an annual fee, there are other costs associated with credit cards, such as late fees and interest charges if you don’t pay off your balance each month.
Credit card issuers have the right to change terms and conditions, and that includes adjusting rates and fees. That said, it would be rare for an issuer to impose an annual fee on a product that is known for not having one. And per the Credit CARD Act of 2009, the issuer is obligated to alert cardholders 45 days before any changes take effect.
APR rates and credit limits vary based on your individual credit. Credit limits and interest rates for each card are determined based on each cardholder's personal situation, so we did not take that information into account when evaluating these cards. One thing to remember is that if you pay your card off in full every month, you will not be charged interest.
Banks have final say on who they accept for a credit card. These recommendations were put together with the assumption that applicants would have average credit or above. That said, banks decide who they will issue credit cards to using criteria including, but not always limited to, an individual's credit score when evaluating each applicant.
Here at Reviewed, we’re well-versed in digging into the finer details to find the best products for our readers. Our Cambridge, Massachusetts, lab tests everything from kitchen appliances to televisions, and we have personal finance experts on hand, too.
Caroline and Taylor have been writing about credit cards for several years. To examine ones that don’t require paying an annual fee, they looked at major credit cards that offer flexible points or cash-back rewards that can be easily redeemed. We chose the best no-annual-fee credit cards based on the value of rewards (both points and perks), fees, and general accessibility.
American Express Blue Cash Everyday
Capital One VentureOne Rewards Credit Card
We went through dozens of cards’ terms and conditions with a fine-tooth comb to select our top picks. The following are popular options with a lot to offer—just not quite as much as the ones we ultimately selected.
No annual fee
High reward rate
Not many perks
No annual fee
Robust rewards program
High reward rate
Spending limits on rewards
Membership required for best rewards
No annual fee
Good for bad or no credit
No foreign transaction fee
No rewards
Security deposit required
Please note: The offers mentioned above are subject to change at any time and some may no longer be available.
Reviewed has partnered with CardRatings for our coverage of credit card products. Reviewed and CardRatings may receive a commission from card issuers.
See rates and fees for the Blue Cash Everyday Card from American Express.
Credit card annual percentage rates range from 13% to 25%, with the national average in January 2022 around 16%. Credit cards marketed for applicants with bad credit tend to be on the higher side, as do credit cards with rewards programs.
Before you apply for a credit card, you can see this range in the cardmember agreement. You won’t know the rate until you’re approved, as it’s determined by the issuer based on your creditworthiness. The higher your credit score, the lower the rate you can expect. Remember that with a variable rate, an issuer can change the interest it charges at any time—and, per your cardmember agreement, it may not have to notify you.
An issuer may charge a different APR for purchases, balance transfers, and cash advances. It may even offer an introductory rate that includes zero interest for a period of 12 to 18 (or 21) months. Lastly, a penalty APR may kick in if you’re late for a payment, exceed your credit limit, or break other terms and conditions laid out by the issuer.
We’ll say it till we’re blue in the face: Pay off your balance each month, and you won’t have to think about interest.
Secured credit cards are geared toward those of us who have made mistakes with credit in the past, or those of us with limited credit histories. Students and people new to the U.S. often fall under these categories.
Unlike an unsecured credit card, cardholders are required to put down a security deposit—often around $200—that is typically equivalent to their credit line. There are, however, a few that require a smaller amount, including the Secured Mastercard® from Capital One, which is among our best secured credit cards, as you may put down as little as $49.
Many credit card issuers will review your account after several months. If you’ve responsibly used your credit card, the issuer may consider upgrading your card or refunding your deposit.
We hate to break it to you, but there’s no one-size-fits-all answer here. The right number for you depends on what you can responsibly manage.
Does having a piece of shiny plastic an arm’s length away often encourage you to spend money you don’t have? Be honest. Credit cards offer great benefits, but they also present an opportunity for overspending. You may want to think twice before applying for more credit. Carrying a balance you can’t afford contributes to interest charges, and in the long run costs you more money—money that you could’ve used for that air fryer you've been eyeing.
If you’re financially responsible and stick to making purchases that you can pay off, there may be some upsides to adding another card to your arsenal. If you’re a jet-setter without a card that rewards you for hitting the road, or one that skips foreign transaction fees, a travel credit card may make sense for you.
There are a few other things to consider before opening a new account, like adding a different payment processing network, or taking note of any annual fees.
We’re not big fans of clutter sitting around and taking up space, either, but there’s a few things to know before you pick up the phone to call your bank and chop up that credit card into bits and pieces. First, your credit score is based partly on the length of your credit history. Closing an older account will knock your score.
Saying goodbye to a card also means you’ll have less credit available. And that means your credit utilization ratio will likely go up. (If you need a refresher: That’s the balance you carry divided by your credit line—and finance pros recommend keeping this at 30% or less.) Your utilization ratio is also a major factor in calculating your score. You can, however, ask another issuer to increase your credit limit to help out a little.
Keep in mind, if you’re a responsible credit user, your scores will eventually rebound. But there are a few other factors to consider when deciding to close an account, such as whether you’re close to hitting a rewards milestone.
Caroline Lupini is a personal finance and travel writer and a valued contributor to the Reviewed.com family of sites.
Taylor Medine is a personal finance writer with over five years of experience writing about credit, credit cards, personal loans, and money management. She's written for Credit Karma, CompareCards, LendingTree, MagnifyMoney, Student Loan Hero, and more.
Our team is here for one purpose: to help you buy the best stuff and love what you own. Our writers, editors, and lab technicians obsess over the products we cover to make sure you're confident and satisfied. Have a different opinion about something we recommend? Email us and we'll compare notes.
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