When you’re looking for a new credit card, it’s very important to look for the one that provides the credit that you need with the least amount of cost to you. Therefore, you definitely want to consider no annual fee credit cards, low interest rate credit cards, introductory interest rate credit cards, cash back rewards credit cards, etc.
Eliminating extra cost when choosing the right credit card is one of the most important reasons to choose a new credit card. Especially if your credit score has improved significantly, you should review your current credit cards, and then compare them to offers based on your new credit score. Chances are, depending on your credit report, you might be able to save money just by answering a few questions. Can you save money with an introductory interest rate? Have you qualified for a better interest rate? What about cash rewards? Are there cash rewards credit cards that fit your type of spending? Can you eliminate the annual fee or are there instances when you should consider paying an annual fee?
Typically, annual fees are charged on credit cards that cater to certain customers. For example, your rewards credit card may charge an annual fee, but does that annual fee outweigh the returns on the rewards or does it make sense to pay the annual fee because you earn more in rewards? Another example would be someone with damaged credit who pays the annual fee because they cannot get credit elsewhere. Both are valid reasons to pay an annual fee if it is more advantageous to do so than it is not to, but for most of us, no annual fee credit cards are the way to go.
Here are our best No Annual Fee credit cards: