The Best Credit Cards Without Annual Fees of 2020
Some of the best credit cards also come with annual fees, which means that the credit card must provide perks to justify the payment of credit card fees. If you want to reduce the cost of carrying credit cards, you should choose a card that is not renewed annually.
Not certain which annual credit card fee is worth it? We have checked credit cards that do not charge renewal fees and compile the best list. Our list contains:
Best for 5% Rewards: Chase Freedom
Best for Small Business: Chase Ink Business Cash Credit Card
Best for Balance Transfers: Citi Simplicity
Best for Troubled Credit: Capital One Secured Mastercard
Best for Everyday Shopping: Blue Cash Everyday from American Express
Best for Travel: BankAmericard Travel Rewards Credit Card
Best Flat Rate Cash Back Rewards: Citi Double Cash
Best Signup Bonus: Wells Fargo Propel American Express Card
Going through the no annual fee route doesn’t mean you should miss a good credit card perks. Many of the best no annual fee credit cards offer rewards, special APR pricing, or even both. To keep your credit card costs low, you must pay your balance on time and complete monthly. This prevents you from paying additional interest and fees for the card.
is the Chase Freedom Best for 5% Rewards
Chase Freedom is one of the most popular credit cards. As a new cardholder, you can get a $ 150 cash bonus if you spend $ 500 on purchases within the first three months of opening your account. You can achieve this by spending around $ 167 per month on credit card purchases. Balance transfers and cash advances do not earn rewards.
You get 5% in cashback on up to $ 1,500 in combined bonuses every quarter. Bonus categories rotate every quarter and you must register to be eligible for the 5% reward. All other purchases will give you a 1% cash reward. For your purchase, you will earn points that you can receive for cashback as a statement credit to your account.
But, you have to activate the bonus category every quarter so that your purchases will earn a 5% cashback reward. In addition, the quarterly spinning bonus category means that you need to change your expenses to increase your rewards.
* Minimum Credit Required is Good
* Annual fee: none
* Intro APR: 0% for purchases and balance transfers for 15 months
* Ongoing APR is charged at 17.24% to 25.99% variables
* Balance Transfer Fee is charged at $ 5 or 3% of the transfer amount
* Cash Advance Fee is charged at $10 or 5% of the cash advance amount
* Foreign Purchase Transaction Fee is charged at 3% of the amount in US dollars
* Signup Bonus is charged at $ 150 bonus after you spend $ 500 in the first three months
Chase Ink Business Cash Credit Card is the Best for Small Business
Chase Ink Business Cash Credit Cards offer cash rewards to small business owners who spend a lot of money each month on their business.
With Chase Ink Business Cash Card, you can get a cashback reward of $ 500 as soon as you spend $ 3,000 on purchases in the first three months of opening an account. If you spend at least $ 1,000 every month on your business, meeting the minimum costs will be very easy.
You consistently get 2% cashback on the first $ 25,000 you spend each year on combined purchases at gas stations and restaurants. This is easy to do if you invite clients out to meals or are traveling to meetings by road. For all other purchases, you will receive 1% cashback.
However, If you shop internationally for your business, this is not the best card for such purchases. For all purchases made in countries other than using the US dollars, you will pay foreign transaction fees, even to online merchants in other countries. This fee also applies if you shop online with international retailers.
* Minimum Credit Required: Good
*Annual fee: none
* Intro APR:0% for purchases and balance transfer for 12 months
* Ongoing APR is charged at 15.49% to 21.49% variables
* Balance Transfer Fee is charged at $ 5 or 5% of the transfer amount
* Cash Advance Fee is charged at $15 or 5% of the cash advance amount
* Foreign Purchase Transaction Fee is charged at 3% of the amount in US dollars
* Signup Bonus is charged at $ 500 bonus after you spend $ 3,000 in the first three months
Citi Simplicity is the Best for Balance Transfer
Citi simplicity has a very long introductory period for balance transfers – 21 months. All transfers must be completed in the first 4 months. In addition, you do not pay interest on purchases during the first 12 months.
There are no late fees, no penalty fees, and no annual fees. You can choose your own payment date. This is very helpful if you are paid weekly or twice a month and if you have several other bills at the beginning or end of the month.
Citi Simplicity does not offer reward programs or registration bonuses. This card also has a much shorter introductory time for purchases.
* Minimum Credit Required: Good
*Annual fee: none
* Intro APR is charged at 0% for 21 months for balance transfer; 0% for 12 months for purchase.
* Ongoing AP is charged at 16.99% to 26.99% variables
* Balance Transfer Fee is charged at $ 5 or 5% of the transfer amount
* Cash Advance Fee is charged at $10 or 5% of the cash advance amount
* Foreign Purchase Transaction Fee is charged at 3% of total purchases in US dollars.
* Signup bonus: Not available
Best for Troubled Credit: Capital One Secured Mastercard
Capital One Secured Mastercard makes it easy for you to start with a secured credit card. Depending on your credit history, you might be able to make a minimum security deposit of $ 49, $ 99, or $ 200 for a $ 200 credit limit.
After you make the first five monthly payments on time, Capital One will consider raising the credit limit automatically without the need for additional security deposits. You also have access to CreditWise, a free credit monitoring tool that makes you stay on top of your credit ratings.
This card has a high APR, which means that the monthly payment of your entire balance is too much to avoid expensive finance charges.
* Minimum balance required: Weak
*Annual fee is 0
* Late fee: up to $ 39
* Intro APR: Not available
* Ongoing APR: variable 26.99%
* Balance Transfer Fee: None
* Cash Advance Fee: None
* Foreign Purchase Transaction Fee: None
* Signup Bonus: Not available
Blue Cash Everyday from American Express is the Best for Everyday Shopping
Blue Cash Everyday Card from American Express pays 3% of the $ 6,000 on grocery purchases every year. You will also receive 2% cash back at US gas stations and selected departments and a 1% cashback on others. Grocery purchases worth more than $ 6,000 per calendar year generate 1% of cashback.
You can get a $ 200 bonus statement credit by spending $ 1,000 in the first three months of receiving your credit card.
Purchases made at wholesale clubs and supermarkets cannot qualify for the 3% cashback rewards. Instead, this purchase generates an earning of a 1% rate.
* Minimum Credit Required: Good*Annual fee: none
* Intro APR: 0% on purchases and balance transfers for 15 months
* Ongoing APR is charged at 15.24% to 26.24% variables
* Balance Transfer Fee is charged at 0 for the requested transfer during the first 60 days; $5 or 3% of the transfer amount
* Cash Advance Fee: $ 5 or 3% of the cash advance
*Foreign Purchase Transaction Fee: 2.7% of the amount converted to US Dollars
* Welcome Offer: $ 200 back as soon as you spend $ 1,000 for purchases in the first three months
BankAmericard Travel Rewards Credit Card is the Best for Travel
BankAmericard Travel Rewards Credit Cards offer a $ 250 Signup bonus when you buy a travel purchase if you spend $ 1000 on purchases within the first 90 days of opening your account.
You currently receive 1.5 points unlimited for every $ 1 you spend on purchases. Bank of America customers with active check or savings accounts receive 10% bonus points for each purchase. And bonuses increase by 75% if you are the Bank of America’s preferred reward client.
The reward rates compared to an annual-fee credit card is low.
* Minimum Credit Required: Extraordinary
*Annual fee: none
* Intro APR: 0% for purchases for 12 billing cycles
* Ongoing APR is charged at 17.24% to 25.24% variables
* Balance Transfer Fee is charged at $10 or 3% of the transfer amount
* Cash Advance Fee is charged at $10 or 3% of the cash advance
* Foreign Purchase Transaction Fee: None
* Signup Bonus is 25,000 online bonus points after you spend $ 1,000 in the first 90 days of opening your account.
Best Flat Rate Cash Back Rewards: Citi Double Cash
Citi Double Cash encourages cardholders to pay off balances by paying 1% of their cash when paying back their balance. You also get 1% of all purchases when you do it.
With the flat-rate cash back setup, you can maximize rewards without having to worry about the categories or alter your spending.
Unfortunately, Double Cash does not offer a bonus for registering new cardholders.
* Minimum Credit Required: Good
*Annual fee: none
* Intro APR: 0% for balance transfers for 18 months
* Ongoing APR: 15.74% to 25.74% variables
* Balance Transfer Fee: $ 5 or 3% of the transfer amount
* Cash Advance Fee is charged at $10 or 5% of the cash advance
* Foreign Purchase Transaction Fee is charged at 3% of total purchases in US dollars
* Signup Bonus: Not available
Best Signup Bonus: Wells Fargo Propel American Express Card
Wells Fargo Propel American Express Cards, credit cards co-branded with Wells Fargo and American Express, pay $ 300 Signup Bonus when you make $ 3,000 for purchases in the first three months of opening an account.
Then you get three points for every dollar you spend in restaurants, gas stations, rideshares and transit, hotels, inns, car rentals, and popular streaming services; For all other purchases, one point per dollar is credited.
There are substantial-high spending to qualify for Signup bonuses.
* Minimum Credit Required: Good
*Annual fee: none
* Intro APR is charged at 0% for balance purchases and transfers for 12 months
*The Ongoing APR is charged at 16.24% -28.24% variable
*The Balance Transfer Fee is charged at $ 5 or 3% of the transfer amount
* Cash Advance Payment is charged at $10 or 5% of the cash advance
* Foreign Purchase Transaction Fee: None
* Welcome offer is 30,000 bonus points after spending $ 3,000 for purchases in the first three months
