10 Best Rewards Credit Cards with No Annual Fee

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An average American owns 3.1 credit cards, 2.5 of which are retail credit cards. The average credit card balance of a U.S. resident is $6,354 and $1,841 of that balance corresponding to retail credit cards. On their quest to attract more clients, many banks offer credit cards with no annual fee involved, and numerous rewards tied to the usage of the plastic.

This may seem like great news. It means that people are regaining their trust in lenders and the economy. They also seem to trust their ability to repay debts more. Credit cards give them access to goods they may not be able to afford otherwise and to consistent rewards, as shown in our post on Credit Cards with the Best Rewards Programs.

However, it is important to note that, depending on how they are used, credit cards can become very expensive even with no annual fee being a part of the contract. Cash withdrawals and transfers have significant associated fees, and the annual percentage rate (APR) for outstanding balances is not negligible either. So, use your credit card smartly and you will enjoy the rewards it offers without getting into unwanted expenses.

Moreover, although credit cards can be a great way to build credit, when left overdue, they can have the opposite effect. If you are in the market for new credit cards, the best way to enjoy all the above benefits and more while keeping costs under control is to start with one or two free credit cards.

You should use them for the purchases subject to the highest rewards, avoid cash withdrawals, and pay out your balance in full before the grace period expires. Of course, finding the best free credit card isn’t that easy, given the wide variety of offers.

We wanted to help you out, so we did the research for you, identifying the most rewarding and convenient credit cards with no annual fee, and including them in our below list. Check out our findings and let us know in a comment (under this list) which free credit card(s) match your needs and expectations best.

10 Best Credit Cards With No Annual Fee (and the rewards they offer)

1. CHASE FREEDOM UNLIMITED

This credit card is perfect for universal shopping needs and offers an attractive sign-up bonus. Its main features are:

• Fixed cash back of 1.5% on all purchases
• $150 bonus for payments of minimum $500 during the first 3 months from sign-up
• $25 bonus for designating an authorized user within the first 3 months
• 0% APR during the first 15 months, 16.49% – 25.24% APR afterwards
• 21 days grace period

2. WELLS FARGO CASH WISE VISA CARD

Similar to Chase Freedom Unlimited, Wells Fargo Cash Wise Comes offers a consistent sign-up bonus and flat-rate cash back. Its main features are:

• Fixed cash back of 1.5% on all purchases
• 200 bonus for payments of minimum $1,000 during the first 3 months from sign-up
• 0% APR during the first 12 months, 14.49% – 26.49% APR afterwards
• 25 days grace period

3. Capital One® Quicksilver® Cash Rewards

Another option for those who treasure fixed cash back for all purchases and sign-up bonuses, this credit card has the following features:

• $150 bonus for purchases of minimum $500 during the first 3 months
• 5% cash back for all purchases
• 0% APR during the first 9 months, 14.49%-24.49% APR afterwards
• 25 days grace period

4. Discover it® Cashback Match™

Although this credit card has no sign-up bonus, it does offer some of the highest cash back rewards currently available on the market. Check out its features:

• 5% cash back for purchases of up to $1500 every quarter for select categories (Groceries for April – June, Restaurants for July-September, and Amazon and Wholesale Clubs for October – December 2018)
• Unlimited 1% cash back for any other purchases
• Discover will double all your cash back at the end of the year
• 0% APR during the first 14 months, 13.49-24.49% APR afterwards
• 25 days grace period

5. CHASE FREEDOM

Compared to Discover it, this credit card offers an attractive sign up bonus as well but doesn’t double your cash back after one year. Here are its features:

• $150 bonus for payments of minimum $500 during the first 3 months from sign-up
• $25 bonus for designating an authorized user within the first 3 months
• 5% cash back for purchases through PayPal and Chase Pay and at grocery stores (April – June) for up to $1,500 quarterly
• 1% unlimited cash back for any other purchases
• 0% APR during the first 15 months, 16.49% – 25.24% APR afterwards
• 21 days grace period

6. CITI DOUBLE CASH CARD

If 2% cash back for all purchases and a small sign-up bonus are enough for you, this credit card could be a worthwhile option. Here are its main features:

• $100 bonus for payments of minimum $500 within the first 3 months
• 1$ instant cash back for all purchases
• $1 additional cash back upon paying off purchases
• 99 – 24.99% APR, no initial waivers
• 23 days grace period

7. BANK OF AMERICA CASH REWARDS

Another interesting offer for higher cash back for select purchases, sign-up bonus, and other rewards comes from Bank of America. Their Cash Rewards Credit Card has the following features:

• $150 sign-up bonus for purchases of minimum $500 within the first 3 months
• 3% cash back for gas stations purchases and 2% cash back for grocery stores and wholesale club purchases, for the first $2,500 spent every quarter
• 1$ unlimited cash back for any other purchases
• 10% bonus for clients who redeem their cash back to their checking or savings accounts
• Between 25 and 75% bonuses for members of the Bank of America Preferred Rewards program
• 0% APR for the first 12 billing cycles, and 14.49% – 24.49% afterwards
• 25 days grace period

8. Blue Cash Everyday® from American Express

This is an excellent credit card for every day needs, with a little bit of everything: higher cash back for select categories, sign-up bonus, and more. Check out its features:

• $150 bonus as statement credit for purchases of minimum $1,000 within 3 months from sign-up
• 3% cash back for supermarket purchases of up to $6,000 every year
• 2% cash back for payments at approved U.S. department stores and gas stations
• 1% cash back for any other purchases
• 0% APR during the first 15 months and 14.49% – 25.49% afterwards
• 25 days grace period

9. Bank of America® Travel Rewards Credit Card

This credit card can be very rewarding for those who want to pay for their vacations from their everyday expenses. Here are its most important features:

• 20,000 points / $200 travel statement credit (flights, hotels, cruises, vacation packages, car rentals, luggage fees, etc.) as a bonus for purchases of minimum $1,000 within the first 90 days
• Unlimited 1.5 points / $1 on all purchases
• 10% bonus for having an active savings or checking account with Bank of America®
• 25 – 75% bonus for Preferred Rewards program members
• 0% APR for the first 12 billing cycles, 49% to 24.49% afterwards
• 25 days grace period

10. VentureOne® from Capital One®

An excellent alternative to the above Travel Rewards Credit Card, VentureOne® lets you pay for your flights with the miles you accumulate from hotel stays. Take a closer look at its features below:

• 20,000 miles bonus for payments of minimum 1,000 during the first 3 months
• Unlimited 1.25 miles / $1 on all purchases
• 10 miles / $1 for hotel payments through Hotel.com/Venture
• 0% APR during the first 12 months, 13.49%-23.49% APR afterwards
• 25 days grace period

Which Free Credit Cards Match Your Needs and Expectations Best?

There are thousands of free credit cards on the market, and millions of users with different needs and expectations. We realize that some of the no fee credit cards we listed could be the best choice for some people and not for others.

We want to know more about your own needs and expectations, and we want to help all our readers find the best solutions for them. You can help us by letting us know which rewards credit cards with no annual fee seem more attractive to you. If your preferred credit card is not on this list, we are willing to update it. Just give us the chance (and submit your thoughts via the “Comments” area below)!

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