Compare No Annual Fee Credit Cards

How to compare no annual fee credit cards

A no annual fee card is a great choice for those people who want to save money on their credit card. There are two types of no annual fee cards: no annual fee as an introductory offer, and no annual fee for life. The first option will usually only waive the annual fee on the card for the first year, and then you will pay the annual fee each year thereafter. With the second option, you will never pay an annual fee for as long as the credit card account remains open.

If you only keep a credit card for emergencies, then choosing a no annual fee card could really help to save you money. Most people don't like paying for something they hardly ever use, so this type of card could really make sense.

You may also want a no annual fee card if you usually pay off the balance of your credit card each month. Paying off the balance will usually mean you won't pay interest on your purchases, so you may then look for further money-saving opportunities. Paying no annual fee and no interest can make owning a credit card much cheaper.

This type of card is an excellent option for someone who is interested in a no-nonsense, no frills credit card. You will usually find that credit cards that charge higher annual fees will offer more features. This means you will also usually find that no-annual fee cards tend not to have many features. However, that's not to say they don't exist. Do some research and you may be able to find a no annual fee card offering some extras that you want.

Before signing up for a no annual fee card, there are a few things you should compare first.

Interest Rates:

You may find that some no annual fee cards have slightly higher interest rates. If you usually carry a balance on your card, then you may want to find a card that offers lower interest rates. If you pay off your balance each month, then the interest charged should not really bother you.

Introductory Offers:

Check whether the no annual fee offered is for the life of the card, or only for a short time. You may also find other offers on this type of card, including balance transfers and rewards. Choose a card that suits you, and try to think about what is best in the long-term.

Features and Benefits:

As mentioned previously, you may find that many of the no annual fee cards available will not offer much in the way of features and benefits. Nevertheless, some searching may uncover the perfect no annual fee card with the extras you want.

Gold and Platinum:

Similar to the features and benefits, you may find it difficult to find a no annual fee card in Gold or Platinum. These cards tend to charge higher annual fees to pay for all the extras they feature. There are some out there though, so do your homework and you might find the perfect card for you.