Many of the top reward credit cards charge an annual fee, but you can still find excellent cards that offer rewards without the annual fee. While these cards may not offer as many rewards and benefits as the premium cards with the annual fee, the no-fee cards are ideally suited for those with modest spending requirements and others who don't have use for the high-end benefits offered by cards that charge these fees.
BankAmericard Travel Rewards® Credit Card
The BankAmericard Travel Rewards® credit card is a great choice for any domestic or international traveler. This card has no annual fee and no foreign transaction fees, making it easy to take it anywhere. You will earn 1.5 points per dollar spent on every purchase and three points per dollar spent on purchases made through the Bank of America Travel Center. Cardholders with a Bank of America checking or savings account will earn an additional 10% over the base points earned, and Bank of America Preferred Rewards clients may increase that bonus to 25% to 75%. New applicants will be eligible to earn 20,000 bonus points after making $1,000 in purchases in the first three months of opening the account. Once you have reached 2,500 points, you may begin redeeming rewards in the form of a statement credit to offset your past travel purchases, including airfare, bag fees, cruises and more. You can also redeem points for cash and gift cards. Bank of America credit cards offer you useful services such as ShopSafe, which allows you to shop online with a temporary 16-digit number that links to your credit card but reduces the opportunity for your card number to be stolen. You will benefit from personalized account alerts and the ability to check you balance, make transfers, and pay your statement from the Bank of America mobile app. In addition, you can request account information quickly through text banking.
Capital One® Quicksilver® Cash Rewards
Do you want cash back rewards instead of travel rewards? Capital One® Quicksilver® Cash Rewards has no annual fee and offers 1.5% cash back on every purchase, and there are no limits on the amount of cash back rewards you can earn. New applicants can earn a one-time, $100 bonus after spending $500 within the first three months of account opening. Cash back rewards may be redeemed as a check or in the form of a statement credit. You may also designate an amount to be donated directly to a charity of your choice or convert rewards to gift cards. You can request your cash back rewards at any time for any amount, and you can set up automatic redemptions at a specified threshold or at a time frame of your choice. Rewards do not expire as long as your account remains active. Capital One® Quicksilver® Cash Rewards comes with Visa Signature benefits, which includes access to savings at resorts and hotels, complimentary travel upgrades, and special access with preferred seating to exclusive entertainment events. You can also receive discounts at select merchants. Be assured that you will find the right place to eat or stay when accessing the Concierge Service, which helps with travel arrangements and other requests. You can also check your credit score at any time for free to help you stay on top of your finances. No foreign transaction fees makes it easy to take the Capital One® Quicksilver® Cash Rewards card wherever you go.
If you like earning bonus rewards throughout the year, Chase Freedom® is a great card with no annual fee. Cardholders may earn 5% cash back on the first $1,500 spent in bonus categories activated each quarter, including Starbuck's, grocery stores, gas stations, Amazon, restaurants and movie theaters. All other purchases will equal 1% cash back. Rewards are tracked as points with 100 points awarded for each dollar spent. After reaching 2,000 points, you can begin redeeming rewards in the form of a statement credit, gift cards, or travel. Use the Chase Mobile App to redeem cash rewards by selecting a merchant, entering the amount desired to redeem, and providing the bar code at checkout. You can also use your points to purchase travel directly through Chase. Your rewards points will not expire as long as your account remains open, and there is no limit to the amount of rewards you can earn. New applicants can earn a $150 bonus after spending $500 on purchases within three months of account opening. This card also offers a 0% Intro APR for the first 15 months for both new purchases and balance transfers, with a 5% balance transfer fee.
Citi®Double Cash offers cardholders a total of 2% cash back for buying and cash back for paying off your card at no annual fee. Cardholders will earn 1% cash back on all purchases, with no limitations on the amount of cash back you can earn. When you make a payment toward your account balance, you will earn an additional 1% cash back on your payment as long as it is equal to or greater than your minimum balance. Once you accumulate $25 in cash rewards, you can redeem your rewards in the form of a statement credit, gift card, check, or a credit deposited directly into a Citi savings or checking account that was used to pay the Citi®Double Cash credit card bill at least two times. As long as you keep the account open and active, your cash rewards will not expire. Citi®Double Cash offers a number of other benefits. For example, cardholder's first late fee is waived and subsequent late fees can be up to $35. Cardholders may also access Private Pass and Price Rewind. Private Pass will offer you special access to tickets and discounts for noteworthy concerts, sports events, VIP packages, and comedy shows. In addition, Citi® offers its Price Rewind benefit that will refund the difference of an item if Citi finds that item at a lower price within 60 days of purchase, up to $1,200 per year.
Chase Slate® is a simple product with no direct program, but it does offer you the ability to help you manage your credit with no annual fee. This card also offers 0% Intro APR for 15 months on purchases and balance transfers with a variable APR of 13.24% to 23.24% after that. And notably, this is the only credit card from a major card issuer that does not charge cardholders a fee for balance transfers performed within the first 60 days of account opening. If you pay late by accident, your interest rate won't rise, as it would with some other cards that impose a penalty interest rate.
Need extra support monitoring your finances? Cardholders will be automatic enrolled in Chase's unique Blueprint program, which allows you to avoid interest charges by paying off some purchases in full while carrying a balance on others. It allows you to identify which merchant categories you wish to pay in full each month, such as groceries, gas and utilities, instead of paying interest on those everyday purchases. Using the Split feature, Chase's Blueprint program makes it easy to quickly pay off a large purchase, like a new refrigerator or air conditioner, by setting a time frame and monthly payment plan. Finally, you will have the ability to see your monthly FICO® score online at no additional cost to you, helping to reassure you if it goes up and alert you to problems if it falls.
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