TOP 5 – Best No Annual Fee Credit Cards for Sep, 2019

No annual fee credit cards are always a great choice. It reduces the cost of owning the card, making it a strong financial choice as well. In recent years, no annual fee offers have become more common, but there are still a few caveats budget-minded consumers should keep in mind.

Editor’s Choice

  • $500 Unsecured Credit Limit
  • Instant Approval*
  • No Credit Check
  • No Employment Check
  • Fast online application
  • Reports to a Major Bureau
  • Bad Credit - OK
  • *See site for details
Opening Min App Fee ATM Fee Credit Reporting Credit Needed Rate this Card
See Terms* See Terms* See Terms* Yes* Bad Credit OK*
total votes: 47

Like anything else, there are varying considerations that play into these offers. Our editors carefully reviewed all of the current no annual fee credit cards on the market today. They were looking for comparable APRs, conveniences associated with any particular offer as well as the absence of other fees that could sneak in and serve as a balancing factor that would allow the credit card companies to collect the equivalence of an annual fee via other monthly or convenience fees. Here’s what our editors chose:

4 More Top No Annual Fee Credit Cards for Sep, 2019

  • 0% Intro APR on Purchases and Balance Transfers for 12 months; after that, the variable APR will be 11.50% (V)
  • Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive
  • No upper limit on the points you can accumulate, and since points never expire, you can save up for a big award!
  • Earn Points on Every Purchase! It's simple: $1 = 1 Point
  • No Annual Fee
  • Select Your Rewards Your Way
Intro APR Intro Period Regular APR Annual Fee Credit Needed Rate this Card
0%* 12 months* 11.50% (Variable)* 0* Good*
total votes: 6
  • $500 Unsecured Credit Limit
  • Instant Approval*
  • No Credit Check
  • No Employment Check
  • Fast online application
  • Reports to a Major Bureau
  • Bad Credit - OK
  • *See site for details
Opening Min App Fee ATM Fee Credit Reporting Credit Needed Rate this Card
See Terms* See Terms* See Terms* Yes* Bad Credit OK*
total votes: 47
  • Instant Approval / $500 Credit Line!
  • No Employment or Credit Check
  • Reports to Major Bureau
  • Bad Credit, No Credit - OK
  • Always 0.0% APR
  • Fast Online Applications
  • *See Card for Details
Opening Min App Fee ATM Fee Credit Reporting Credit Needed Rate this Card
See Terms* See Terms* See Terms* No* Bad Credit OK*
total votes: 43
  • No Annual Fee! Build up your credit with responsible card use.
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
  • Nationwide Program though not yet available in NY, IA, AR, or WI
  • * See Card Terms.
Intro APR Intro Period Regular APR Annual Fee Credit Needed Rate this Card
N/A* N/A* 26.74% (Variable)* 0* Bad Credit OK*
total votes: 14

The fact is, credit card companies have become increasingly competitive. As a result, consumers continue to benefit from that competitive spirit and those benefits are coming in the form of waived or non-existent annual fees. But remember, too, that human nature plays a far bigger role in our financial decisions as anything else. Banks and card companies know that sometimes, a late fee tacked on during the year can offset their losses associated with no annual fee cards. Don’t underestimate the psychology of money and credit and remember you’re your best advocate.

Why No Annual Fee Cards are Smart Choices

Of course, the most obvious reason is that consumers save those annual fees associated with some credit cards. If you don’t have to pay it, why would you, right? Banks and card companies offer these cards as a way to remain competitive. Even when the new laws went into effect, many were concerned that would be the end of the no annual fee credit card, but that’s not been the case at all. In fact, consumers have benefited from those new laws in a number of ways.

Look for low APR and be sure to weigh all factors when making your decision. Ask yourself if that quarter point APR difference is going to wipe out the benefits of not being hit with the annual fee. The terms and conditions spell those details out and with recent changes in how those disclosures are presented, it’s always better to take those extra few minutes and read them.

Also, some consumers look for balance transfer options, as well. They see the opportunity to take advantage of low or zero percent intro rates on balance transfers to a credit card that has no annual fee – and it really does become a great choice at that point. Compare the perks and benefits. The rewards program might be something that’s important as well, however, you’re more likely to see an annual fee on those with the best rewards programs. Just keep that in mind as you move through the process.

The Cons of No Annual Fee Cards

The biggest pitfall associated with no annual fee credit cards is the requirement that the applicant have excellent credit. That’s not always the case, but more times than not, anything less than excellent credit can disqualify a consumer. If you’re in the process of building or rebuilding your credit, tread carefully since you’re going to watch several different indicators, including the interest rate you’re going to have to pay.

Another important consideration is found, again, in the terms and conditions. Some offers will now include a clause that states late payments or going over your credit limit will automatically trigger an annual fee. This again goes back to the psychology of money. If you’re prone to having a few weak moments and have been known to go over your credit limit on occasion, you’ll need to keep in mind it’s going to cost you more than just the over the limit fee. You may find yourself hit another fee every year for that one moment of weakness.

Card name Intro APR Intro APR Period Regular APR Annual Fee Credit Needed
Net First Platinum N/A* N/A* 0.00% * 0* Bad Credit OK*
Freedom Gold Card N/A* N/A* 0.00% * 0* Bad Credit OK*
Amalgamated Bank of Chicago Union Strong Credit Card 0%* 12 months* 11.50% (Variable)* 0* Good*
Horizon Gold N/A* N/A* 0.00% * 0* Accepts All*
ABOC Platinum Rewards Credit Card 0%* 12 months* 15.15% - 25.15% (Variable)* 0* Good*
 

Conclusion

Simply stated, these no annual fee credit card choices are often the best on the market. That said, a credit card is only as good as the owner who’s using it and taking advantage of the perks and benefits. If a credit card is burdensome and doesn’t have any significant value associated with owning it, then it’s not good for that particular consumer and can actually cost money in the long run. Due diligence is key and don’t get swayed by one particular benefit, especially if washes in the long run.

Have you had any personal experience with No Annual Fee Credit Card?

 
 

Advertiser Disclosure

CREDIT DAD is an independent, advertising-supported website. Many debit cards, credit cards and other financial offers that appear here are from companies from which CREDIT DAD Websites receive compensation. This compensation may impact how and where products appear on this website (including, for example, the order in which they appear). CREDIT DAD Websites do not include all card offers in the marketplace.

Advertiser Disclosure

CREDIT DAD is an independent, advertising-supported website. Many debit cards, credit cards and other financial offers that appear here are from companies from which CREDIT DAD Websites receive compensation. This compensation may impact how and where products appear on this website (including, for example, the order in which they appear). CREDIT DAD Websites do not include all card offers in the marketplace.