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Best No Annual Fee Credit Cards of August 2020
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Paying an annual fee on a credit card can be worth it if it gets you substantially higher rewards. But in many cases, credit cards that don’t charge annual fees offer better long-term value than those that do. No-annual-fee credit cards make it easy to come out ahead, regardless of your spending. Plus, you’ll be able to keep your card open for a long time at no cost, increasing the average age of your accounts, which has a positive effect on your credit score.
Paying an annual fee on a credit card can be worth it if it gets you substantially higher rewards. But in many cases, credit cards that don’t charge annual fees offer better long-term value than those that do. No-annual-fee credit cards make it easy to come out ahead, regardless of your spending. Plus, you’ll be able to keep your card open for a long time at no cost, increasing the average age of your accounts, which has a positive effect on your credit score.
Best No Annual Fee Credit Cards From Our Partners
Our pick for
Flat-rate cash back
Annual Fee
$0
Regular APR
13.99% - 23.99% Variable APR
Intro APR
0% on Balance Transfers for 18 months
Recommended Credit Score
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% - 23.99%, based on your creditworthiness.
- Balance Transfers do not earn cash back.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
- The standard variable APR for Citi Flex Plan is 13.99% - 23.99%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
Pros
The Citi® Double Cash Card – 18 month BT offer earns a stellar 2% cash back on all purchases: You get 1% back on every dollar you spend and another 1% back when you pay off those purchases. That's best in class for a flat-rate cash-back card with an annual fee of $0.
Cons
There's no sign-up bonus or 0% APR period on purchases, nor is there a chance to earn higher rewards in different categories, which you might find on some other cards. You have to accrue a minimum of $25 in rewards before you can redeem them. It charges a foreign transaction fee, so it's not ideal for using internationally.
Why We Like It
The Citi® Double Cash Card – 18 month BT offer is one of the best rewards cards on the market for its high rate and its ease of use. Cardholders can shop as they normally would and get a fantastic rewards rate. The simple cash-back structure means no categories to track and no complicated redemption options.
Our pick for
Bonus category cash back
Annual Fee
$0
Regular APR
11.99% - 22.99% Variable APR
Intro APR
0% intro APR on Purchases and Balance Transfers for 14 months
Recommended Credit Score
- INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Plus, earn unlimited 1% cash back on all other purchases - automatically.
- Redeem cash back any amount, any time. Rewards never expire.
- Use your rewards at Amazon.com checkout.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- No annual fee.
- View Rates and Fees
Pros
The bonus categories have historically included popular everyday spending areas like supermarkets, gas stations and restaurants. It comes with a good 0% APR period as well as Discover's unique bonus for new cardholders: INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Cons
You have to remember to activate the bonus categories each quarter. If your spending doesn't match the bonus categories or you tend to spend significantly above the $1,500 quarterly cap, you might fare better with another card.
Why We Like It
The Discover it® Cash Back earns 5% cash back in rotating quarterly categories on up to $1,500 in purchases each quarter (requires activation); everything else earns 1%. Not bad for a card with an annual fee of $0. Use it as your everyday card, or pair it with one that earns flat-rate rewards for maximum returns.
Our pick for
0% intro APR period
Annual Fee
$0*
Regular APR
13.99% - 23.99% Variable APR
Intro APR
0%* on purchases and balance transfers for 20 billing cycles*
Recommended Credit Score
- 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 13.99% - 23.99%.
- Great offer from U.S. Bank, a 2020 World's Most Ethical Company® - Ethisphere Institute, February 2020.
- No Annual Fee*
- Flexibility to choose a payment due date that fits your schedule.
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- View Rates and Fees
Pros
The U.S. Bank Visa® Platinum Card offers a long interest-free period on both purchases and balance transfers. When that offer ends, the annual fee of $0* lets you keep it open. Plus, it comes with cell phone insurance.
Cons
There's a balance-transfer fee of 3% (minimum $5). That's at the low end of the industry's typical range, but you still can find cards with a fee of $0. There are also no rewards on this card, giving you little incentive to keep using it after the 0% period.
Why We Like It
With its lengthy intro APR offer of 0% intro APR for 20 billing cycles on purchases and balance transfers, and then the ongoing APR of 13.99% - 23.99% Variable APR, the U.S. Bank Visa® Platinum Card gives you extra breathing room to pay down a big purchase or tame a high balance from another card.
Our pick for
Dining rewards + no annual fee
Annual Fee
$0
Regular APR
14.99% - 23.99% Variable APR
Intro APR
0% intro APR on Purchases and Balance Transfers for 12 billing cycles
Recommended Credit Score
- Earn 20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening That's a $200 value redeemable towards merchandise, gift cards, cash back, travel and more
- Earn 4X points on takeout, food delivery and dining
- Earn 2X points at grocery stores, grocery delivery, gas stations and on streaming services
- $15 credit for annual streaming service purchases such as Netflix and Spotify
- No annual fee*
- 1X point per $1 on all other eligible purchases
- Low Introductory APR on purchases and balance transfers
- Points never expire
- View Rates and Fees
Pros
You'll get 4X points on dining purchases; 2X points at grocery stores (including grocery delivery), gas stations and on streaming services; and 1X points on other eligible purchases. There's also a bonus, an intro APR period and an annual credit on eligible streaming services.
Cons
Unlike some other dining rewards cards, this one doesn't feature an "entertainment" bonus category. Also, you can't pool your rewards with other U.S. Bank products.
Why We Like It
The U.S. Bank Altitude® Go Visa Signature® Card offers a heaping helping of rewards on dining purchases — in fact, it's perhaps the best rate available for foodies among cards with an annual fee of $0.
FULL LIST OF EDITORIAL PICKS: BEST NO ANNUAL FEE CREDIT CARDS
Click the card name to read our review. Before applying, confirm details on the issuer’s website.
Our pick for: Flat-rate cash back
Year after year, the Citi® Double Cash Card – 18 month BT offer has been our choice for the best flat-rate cash-back card. You earn 2% cash back on every purchase — 1% when you buy something and 1% when you pay it off. There's no 0% intro period for purchases and no sign-up bonus, but the high rewards rate more than makes up for the lack of bells and whistles. Read our review.
Our pick for: Bonus category cash back
The Discover it® Cash Back earns bonus cash back in quarterly categories that you activate. In past years, those categories have included common spending areas like grocery stores, restaurants, gas stations and Amazon.com. Category activation can be a hassle, but if your spending aligns with those categories (and for most households, it probably will), you can rake in serious rewards. You also get the issuer's signature "cash-back match" bonus in your first year. Read our review.
Our pick for: Dining rewards + no annual fee
The U.S. Bank Altitude® Go Visa Signature® Card is perhaps the most cost-effective restaurant card on the market, earning a whopping 4 points per dollar on dining purchases including takeout and delivery. You can find higher rates on dining, but not on cards with no annual fee. Read our review.
Our pick for: Travel rewards
The Wells Fargo Propel American Express® card offers so much value, it's hard to believe there's no annual fee. Start with a great bonus offer, then earn extra rewards in a host of common spending categories — restaurants, gas stations, transit, travel, streaming and more. Read our review.
Our pick for: Flat-rate travel rewards
The BankAmericard® credit card is short on flash but long on savings. If you're looking to finance a large purchase or, especially, transfer and pay down high-interest debt, it deserves a place on your short list. Read our review.
Our pick for: 0% intro APR period
A lengthy 0% introductory APR period for both purchases and balance transfers has made the U.S. Bank Visa® Platinum Card a NerdWallet favorite. Read our review.
Our pick for: Dining and entertainment rewards
Love the night life but dead-set against paying an annual fee? Consider the Capital One® SavorOne® Cash Rewards Credit Card. It pays a lower cash-back rate on dining and entertainment than the regular Savor card, but the rewards are nevertheless quite good. The sign-up bonus is smaller than on the annual-fee version, too, but it's still solid. Read our review.
Our pick for: Small business
If your business's spending matches the bonus categories on the Ink Business Cash℠ Credit Card, you can rack up some serious cash back. (If not, then look elsewhere.) There's an excellent sign-up bonus for a no-annual-fee cash-back card, plus an introductory 0% APR period for purchases. Read our review.
Our pick for: Airline card
To unlock the most valuable perks of airline credit cards, you'll have to pay an annual fee. But if you're a leisure traveler just hoping to earn airline miles in the background, it's hard to do better than the Delta SkyMiles® Blue American Express Card. Read our review.
To view rates and fees of the Delta SkyMiles® Blue American Express Card, please visit this page.
Last updated on August 5, 2020
