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Best No Annual Fee Credit Cards for January 2022

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No Annual Fee

1. Compare the best rewards credit card offers from our partners
2. Save money on fees & interest & earn valuable rewards 
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Sponsored 0% APR for 15 months on purchases from the date of account opening

Blue Cash Everyday® Card from American Express
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Blue Cash Everyday® Card from American Express
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Rates & FeesTerms Apply
On American Express's secure site
Rewards Rate
3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 2% Cash Back at U.S. Gas Stations, 1% Cash Back on other eligible purchases
Welcome Offer
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months
Intro Purchase APR
0% for 15 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
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Sponsored Earn an additional 1.5% cash back during the first year - worth up to $300

Chase Freedom Unlimited®
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On Chase's secure site
Rewards Rate
Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all
Welcome Offer
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.
Low Intro APR
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99% - 23.74%.
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Sponsored 0% Intro APR for 21 months on balance transfers from date of first transfer

Citi® Diamond Preferred® Card
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On Citi's secure site
0% Intro Balance Transfer APR
0% Intro APR for 21 months on balance transfers from date of first transfer
0% Intro Purchase APR
0% Intro APR for 12 months on purchases form date of account opening
Extra Perks
With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more
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Sponsored 0% intro APR on Balance Transfers for 18 months

Citi® Double Cash Card – 18 month BT offer
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On Citi's secure site
Rewards Rate
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases
Intro Balance Transfer APR
0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness
Extra Benefits
No annual fee and free access to Citi Entertainment®
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Petal® 2 “Cash Back, No Fees” Visa® Credit Card
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On WebBank's secure site
Rewards Rate
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments, 1% cash back on eligible purchases right away, 2% - 10% cash back at select merchants
Easy Approval Process
Easily see if you're pre-approved within minutes without impacting your credit score
No Fees
No late fee, international fee, annual fee, or other suprise fees
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Should You Pay an Annual Fee?

As the name suggests, a no annual fee card is a card that does not charge a yearly fee for a customer to be able to use it. Along with charging no annual fee, many of these cards also offer rewards through many forms. Usually, cards charge annual fees to make up for costs associated with the bonuses and rewards offered by the card. In many cases, the annual fee is compensated for by the rewards offered by the card. Just because a card comes with an annual fee doesn’t mean it should be ruled out as a great option for you. It comes down to a few factors such as how much you spend, what purchases you typically make, and if you will earn a welcome bonus. The best way to be sure you’re getting the best card for how you spend is to sign up for a free Clyde account. Clyde’s AI calculates the rewards value you will likely earn in the first year of opening a new card.

The Advantages of Paying No Annual Fee

Cards that do not charge annual fees also come with plenty of advantages. One of the most overlooked benefits of no annual fee cards is that they can indirectly help you build and improve your credit score. Consider that no annual fee cards can offer an attraffordable (i.e. no fee) way to increase the total amount of credit you have access to. Assuming you keep your spending amount consistent, increasing the amount of credit you have access will decrease your credit utilization ratio, which is a key component of credit scores.

This ratio indicates how much of your credit you have utilized and accounts for 30% of your credit score. If you currently have only one card and decide to make a large purchase, this could increase your utilization ratio -- thereby decreasing your credit score. However, if you open a new account with a no annual card, you can then spread your purchases across the two cards which will help lower your utilization ratio. It is ideal to keep your utilization ratio below 30%.

The biggest advantage of such cards is that you won’t face out-of-pocket costs when you open your new card. Many no annual fee cards also include the following benefits:

  • Purchase protection
  • Fraud protection
  • Free credit score reports

Although no annual fee cards usually don’t provide top tier rewards, there are still many rewards to incentivize you. Many cash back credit cards with no annual fees offer anywhere up to 1.5% of cashback on purchases. If you look into a travel card with no annual fees, you may still be able to earn competitive miles/points on your travels.

Considerations

However, it is also vital to realize that while you may not be charged an annual fee, there will most likely still be other charges that you are required to make. Some of these charges include, but are not limited to:

  • Foreign transaction fees
  • Late fees
  • Cash advance fees

Some cards also only offer no annual fees for a limited time period, after which you will have to start paying them annually. It is crucial to look out for these. When looking through various no annual fee cards, take note to compare each card’s APR. Apart from rewards, one of the most important features of a no annual card is its introductory APR offer. Many cards will allow a low APR rate, often even 0%, for a limited period of time. It is important to compare both the period of time for the introductory offer and the rate being provided for this time. The introductory offer rate can be extremely useful if you are looking to make a large purchase or looking to pay down credit card debt. Many cards will also offer sign up bonuses via credit statements, rewards, and cash back.

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