This is a guest article. If you are interested in contributing to Debt RoundUp, please follow our guidelines.
There are so many credit card offers always being pushed by the major banks and credit card issuers that at times it can be difficult to cut through the marketing and actually find the best card for you. A complaint I often hear from people searching for new credit cards to apply for is that many of the best cards carry high annual fees. While many excellent credit cards do carry high annual fees, it doesn’t always make sense to apply for these cards, even if the rewards are great. If you are not going to use the card often enough to receive rewards that are worth more than the annual fee you will pay to have the card each year, then you should probably look into applying for a credit card with a lower annual fee, or no annual fee at all. In this article, I’m going to rank and explain my choices for the best credit cards with no annual fee that are currently available.
- Discover it Card – The Discover it Card is my choice for the best no annual fee credit card currently on the market. With the Discover it Card, cardholders receive 5% cash back at restaurants and movies through the end of March on up to $1,500, and 1% cash back on all other purchases. In addition, Discover offers a Cashback Concierge that will provide a custom online tour to help cardholders fully take advantage of the rewards offered by the card. The Discover it Card also offers 24/7 US-based customer support, and a 0% Introductory APR on balance transfers and purchases for 14 months. After the 14-month intro period, the APR reverts to the variable purchase APR between 10.99% and 20.99%. In addition to know annual fee, the Discover it Card also charges no overlimit fees, no foreign transaction fees, no pay-by-phone fees, and no late fee on your first late payment.
- Capital One VentureOne Rewards Card – The Capital One VentureOne Rewards credit card also makes my list of the best no annual fee credit cards. With the Capital One VentureOne Rewards Card, cardholders receive 1.25 reward miles for each dollar spent. In addition, Capital One rewards cardholders with a one-time bonus of 10,000 miles after they spend $1,000 on the card within the first three months that they have it. This bonus translates into $100 in travel rewards. The Capital One VentureOne Rewards card also offers a 0% Intro APR on purchases until February of 2014, and requires no foreign transaction fees.
- Blue Cash Everyday Card from American Express – The Amex Blue Cash Everday Card rounds out my list of the top three no annual fee credit cards. With the Blue Cash Everyday Card, cardholders receive 100 Reward Dollars after they spend $1,000 on purchases in the first three months that they have the card. Cardholders also receive 3% cash back at supermarkets, 2% cash back on gas, and 1% cash back on all other purchases. Along with requiring no annual fee, the Blue Cash Everyday Card from American Express also offers a 0% Intro APR on purchases for 12 months.
This article was written by Logan Abbott. Logan is a personal finance and credit card expert with over a decade of experience. He is also the editor of MyRatePlan.com, a comparison shopping site for credit cards.
Image courtesy of phanlop88 / FreeDigitalPhotos.net