Many credit cards today charge annual fees. The problem is, they can get pretty expensive, running the gamut from under$100 to nearly$500. When you choose a credit card without annual fees, you can receive huge savings and reduce the complications in your life.
A credit card with no annual fee can help you save money while not having to sacrifice the quality and rewards of the best credit cards on the market in 2022.
Based on our exhaustive analysis, these are the best credit cards with no annual fee.
American Express welcomes you with an opportunity to earn$200. Earn$200 in statement credits after you spend$2,000 in purchases. Complete this within your first six months of having the card. It comes with an introductory APR of 0% that lasts even longer at 15 months. After the promotional show period is over, the APR changes from 18.99% to 29.99%. Your rewards can include 3% at U.S. supermarkets, U.S. gas stations and U.S. online retail purchases up to$6,000 per year on each category, then 1% thereafter. There is also 1% on all other purchases.
Amex is also unique in that it has a$0 Buy Now, Pay Later Plan It. It lasts 15 months from account opening and allows you to create a specific payment plan custom to your needs without a fee.
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The Capital One SavorOne Cash Rewards Credit Card is the card you want when dining and entertainment are your favorite activities. This card is designed especially for foodies and social butterflies who love to get out of the house for a great meal. Capital One gives unlimited 3% cashback on all of your dining and entertainment purchases, in addition to your regular groceries. When you use your card to pay for streaming services, you could also receive 3% cashback on your payments. All other purchases merit you 1% cashback.
There is also a one-time$200 cash bonus after you spend$500 within the first 3 months of having your card. Capital One also offers an introductory 0% APR and 3% balance transfer fee on transactions made within the first 15 months. After the promotional period, the APR changes to a variable APR of 19.74%- 29.74% on your purchases. There also are no annual or foreign transaction fees to save you extra money each year.
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The Discover It Balance Transfer credit card is designed to offer discounted balance transfers with a generous intro APR. Also notable is the fact that this card features rotating categories. One quarter it could be Amazon.com, and the next, groceries. For example, July 2022 features restaurants and PayPal purchases, while October 2022 offers cashback for Amazon.com purchases. Each category is worth 5% at some of the most popular retailers and categories that you already use every day. All other purchases earn 1% automatically, skipping the fuss of counting or tracking rewards points.
Cashback Match is an additional promo lasting your first year and giving you an unlimited dollar-for-dollar match on all of your cashback earnings by year's end.
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The Petal 2 Visa can be a good option when you have poor credit. It offers credit limits ranging from$300 to$1,000, but it carries a very high APR that can be as much as 31.99% for very bad or new credit.
You also receive cashback of up to 1.5% with incentives for timely payments. When you make a purchase, there is 1% automatically, but you can earn up to 1.5% back when you pay on time. Some merchants vary from 2% to 10% at select merchants.
Even better, the Petal 2 Visa does not charge any fees to save you extra money each year.
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There are many credit cards out there, but not all of them may be the right fit for your specific needs. These are some considerations we recommend when considering which is the best credit card with no annual fee.
We strongly suggest shopping and comparing different options so you can find the best credit card with no annual fee that also meets your regular spending and financial goals.
Our team at ZDNet has some expert recommendations to help you find the right credit card with no annual fee for you.
Choose this credit card... | If... |
Blue Cash Everyday card from American Express | You want rewards for your regular everyday purchases |
Capital One SavorOne Cash Rewards | You love a meal and entertainment |
Chase Freedom Unlimited | You want cash rewards that offer flexibility when redeeming |
Discover It Cash Back | You want earnings across different categories |
Petal 2 Visa | You have fair credit |
Some credit cards charge an annual fee to maintain a line of credit and keep your account active. It is a fee that is charged each year. However, an annual fee does not apply to all credit cards, which is why it is important to consider the best credit cards with no annual fee.
Even if you have bad credit, there are still credit cards with no annual fee that may approve you for a line of credit. One example is the Petal 2 credit card.
The best credit card with no annual fee all depends on your specific needs for a credit card. While some use a credit card for emergencies, others may use it to consolidate debt or rebuild credit. How you plan to use your credit card can help you find the best credit card with no annual fee. Our list of the best no annual fee credit cards is a great place to start.
In our search, we found many credit cards with no annual fee that may be worth your consideration. If you are searching for the best credit card with no annual fee, these are some of the best credit cards to consider.
For other options, consider our expert reviews for the best crypto credit cards, the best starter credit cards, and 2022's most exclusive credit cards.