The 5 Best Credit Cards With No Annual Fees
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Most average credit card users don't need a credit card with an annual fee. Cards that come with annual fees offer higher rewards and an assortment of travel perks and shopping benefits, but if you don't spend enough to maximize on rewards or travel enough to take advantage of the additional perks, the annual fee is an unjustifiable cost.
Choosing a card without an annual fee is much like picking any other card — you need to find the one that offers the features and benefits that are best suited to how you are going to use the card. Here are the cards I would recommend to anyone looking for a credit card without an annual fee.
BankAmericard Travel Rewards® Credit Card — Enhanced Security on Vacation
When traveling internationally, credit cards can be the most secure and convenient method of payment. Unfortunately, many cards are incompatible with the latest generation of credit card readers in use around the world that require an EMV smart chip. And many of the cards that do have an EMV chip also have a 3% foreign transaction fee, an annual fee, or both. The BankAmericard Travel Rewards® credit card is one of the only rewards cards that offers both an EMV smart chip along with no foreign transaction fees or annual fee. Cardholders also receive a competitive rewards program that features 1.5 points per dollar spent on purchases, and each point is worth one cent statement credit towards travel purchases. Plus there's a 20,000 point sign-up bonus (after $1,000 spend in first 90 days) that is worth $200. (See also: The Best Travel Rewards Credit Cards)
Chase Slate® — Balance Transfer
If there is a credit card designed to help people to pay off their debt, this is it. Chase Slate® offers 15 months of interest free introductory financing on both new purchases and balance transfers (a variable APR fo 15.74%-24.49% applies after that), and is the only 0% APR offer with $0 intro fee for balance transfers made during the first 60 days of account opening. So cardholders in debt can transfer their existing balances to this card and avoid interest without paying the 3% balance transfer fee imposed by all other credit cards with interest free promotional financing offers. There's no penalty APR — paying late won't raise your interest rate. (All other account pricing and terms apply.) You also get a monthly FICO® score and Credit Dashboard for free to help keep an eye on your credit.
Slate also features Chase's innovative Blueprint program that allows cardholders to avoid interest by paying some charges in full, while carrying a balance on others. Blueprint also includes powerful budgeting and goal setting tools to help cardholders avoid getting into debt in the first place. (See also: The Best Credit Cards With 0% Balance Transfer)
Barclaycard CashForward™ World Mastercard®
The Barclaycard CashForward™ World Mastercard® offers 1.5% unlimited cash back on every purchase as well as a 5% redemption bonus. The minimum redemption requirement is $50. New cardholders can earn $200 after spending $1,000 in purchases in the first 90 days of account opening. Additional benefits include various travel insurance, extended warranty, purchase and return protection, concierge services, and a free FICO score every month.
Citi® Double Cash - 18 month BT offer — Simple Cash Back
The Citi® Double Cash Card - 18 month BT offer from our partner Citi is the no fee card for those who want to maximize the amount of cash back rewards they receive from their regular spending. Cardholders receive 1% cash back when they make a purchase, and another 1% cash back when they make a payment. For a straight cash rewards credit card, it's one of the best available when it comes to getting cash back for all your purchases (not just the ones in bonus categories). (See also: Best Cash Back Credit Cards)