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Best no annual fee credit card 2022: Save your money

Times of News

Many credit cards today charge annual fees. The problem is, they can get pretty expensive, running the gamut from under $100 to nearly $500. When you choose a credit card without annual fees, you can receive huge savings and reduce the complications in your life. 

A credit card with no annual fee can help you save money while not having to sacrifice the quality and rewards of the best credit cards on the market in 2022.

Based on our exhaustive analysis, these are the best credit cards with no annual fee.

American Express welcomes you with a $200 statement credit after $2,000 in purchases within your first six months of having the card. It comes with an introductory APR of 0% that lasts even longer at 15 months. After the promotional show period is over, the APR changes from 13.99% to 23.99%. Your rewards can include 3% on groceries spent at American supermarkets, up to $6,000 per year. There is also 2% cashback on gas and eligible grocery stores with 1% on all other purchases. 

Amex is also unique in that it has a $0 Buy Now, Pay Later Plan It. It lasts 15 months from account opening and allows you to create a specific payment plan custom to your needs without a fee. 

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Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

The Capital One SavorOne Cash Rewards credit card is the card you want when dining and entertainment are your favorite activities. This card is designed especially for foodies and social butterflies who love to get out of the house for a great meal. Capital One gives unlimited 3% cashback on all of your dining and entertainment purchases, in addition to your regular groceries. When you use your card to pay for streaming services, you could also receive 3% cashback on your payments. All other purchases merit you 1% cashback. 

There is also a one-time $200 cash bonus after you spend $500 within the first 3 months of having your card. Capital One also offers an introductory 0% APR and 3% balance transfer fee on transactions made within the first 18 months. After the promotional period, the APR changes to a variable APR of 14.99%, 20.99%, or 24.99% on your purchases. There also are no annual or foreign transaction fees to save you extra money each year.

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If you are a commuter or spend a lot of time on the road, the Chase Freedom Unlimited card could be the right credit card for you. To start, there is a $200 bonus after $500 spent in the first three months, plus a 0% introductory APR lasting 15 months for both your purchase and balance transfers. You will also get 5% cashback at gas stations for your first year of having the card. There is a cap, but it is a generous one at $6,000 for the entire year. There is also 5% cashback on travel you buy directly through Chase Ultimate Rewards, 3% on restaurants and drugstores, and 1.5% on all other purchases.

There are no annual fees, and your cashback never expires, giving you the time and space to organize your money. 

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The Discover It Balance Transfer credit card is designed to offer discounted balance transfers with a 0% intro APR. Also notable is the fact that this card features rotating categories. One quarter it could be Amazon.com, and the next, groceries. For example, July 2022 features restaurants and PayPal purchases, while October 2022 offers cashback for Amazon.com purchases. Each category is worth 5% at some of the most popular retailers and categories that you already use every day. All other purchases earn 1% automatically, skipping the fuss of counting or tracking rewards points. 

Cashback Match is an additional promo lasting your first year and giving you an unlimited dollar-for-dollar match on all of your cashback earnings by year’s end.

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The Petal 2 Visa can be a good option when you have poor credit. It offers credit limits ranging from $300 to $1,000, but it carries a very high APR that can be as much as 26.99% for very bad or new credit.  

You also receive cashback of up to 1.5% with incentives for timely payments. When you make a purchase, there is 1% automatically, but you can earn up to 1.5% back when you pay on time. Some merchants vary from 2% to 10% at select merchants.

Even better, the Petal 2 Visa does not charge any fees to save you extra money each year.

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Which is the right credit card for you?

Our team at ZDNet has some expert recommendations to help you find the right credit card with no annual fee for you.

What is a no annual fee credit card?

Some credit cards charge an annual fee to maintain a line of credit and keep your account active. It is a fee that is charged each year. However, an annual fee does not apply to all credit cards, which is why it is important to consider the best credit cards with no annual fee.   

Can you get a no annual fee credit card with bad credit?

Even if you have bad credit, there are still credit cards with no annual fee that may approve you for a line of credit. One example is the Petal 2 credit card. 

What is the best credit card with no annual fee?

The best credit card with no annual fee all depends on your specific needs for a credit card. While some use a credit card for emergencies, others may use it to consolidate debt or rebuild credit. How you plan to use your credit card can help you find the best credit card with no annual fee. Our list of the best no annual fee credit cards is a great place to start.

Article source: https://www.zdnet.com/finance/credit-cards/best-no-annual-fee-credit-card/#ftag=RSSbaffb68