Are you searching for a credit card that offers cash-back rewards and has no annual fee? Or wondering about which of the cards is the best for you? If your answer to these questions is yes, you are reading the right content right now.
Know that there are many factors you need to consider, such as the rewards rate, the bonus categories, the redemption options, the fees, and the features. However, you can use this article as your guide as it lists some of the best cash-back credit cards with no annual fee and gives you some tips on how to use them effectively and avoid some common mistakes. Not only that, you can also find answers to some of the frequently asked questions about cash-back credit cards with no annual fees and help you find the best card for your needs. Are you excited to discover these mysteries? Dive in now!
- Chase Freedom Unlimited® Card
- Citi® Double Cash Card
- Chase Freedom Flex
- PayPal Cashback Mastercard®
- American Express Blue Cash Everyday® Card
Overview Best Credit Cards With No Annual Fee Cash Back
How to Apply for the Best Credit Cards With No Annual Fee Cash Back
Pros & Cons of Best Credit Cards With No Annual Fee Cash Back
What to Watch Out For
Pro Tips.
1. Chase Freedom Unlimited® Card
9.8/10
Choose this card because it is one of the best overall cash-back cards with no annual fee. You can get a high and unlimited rewards rate on every purchase, as well as bonus cash back on travel, dining, and drugstores. As a matter of fact, you are eligible for a generous welcome bonus and a long introductory APR period on purchases and balance transfers. Oh, what a card!
Pros
- Earn 5% cash back on travel perks you purchase through Chase Ultimate Rewards® in addition to 3% on dining and drugstores. Not to mention 1.5% on all other purchases.
- Earn an extra 1.5% on everything you buy. This is worth $300 if you spend up to $20,000 in your first year on the card.
- Enjoy 0% off introductory APR for the first 15 months from account opening on purchases and balance transfers.
- Get access to unlimited cash back and rewards with no expiration date.
- Transfer your rewards to other Chase cards that earn Ultimate Rewards® points for more redemption options.
Cons
- Prepare to pay a 3% foreign transaction fee, which makes this card less suitable for international travel.
- Pay a balance transfer fee of either $5 or 3%.
- Expect rewards rate on non-bonus categories to be lower than some other flat-rate cash-back cards.
- Requires you to have excellent or good credit to qualify for this card.
- Ready for a high regular APR (20.49% to 29.24%).
- Earn an extra 1.5% on everything you buy which can give you up to $300 as a welcome bonus.
- Earn 5% cash back on travel, 3% on dining and drugstores, and 1.5% on all other purchases.
- Enjoy a $0 annual fee.
- Enjoy an intro APR of 0% for the first 15 months from account opening on purchases and balance transfers.
- Get a regular APR: 20.49% – 29.24% variable.
2. Citi® Double Cash Card
9.5/10
Do you know this is not just one of the best flat-rate cash-back cards with no annual fee? It gives you access to a simple and consistent rewards structure that lets you earn 2% cash back on every purchase (1% when you buy and 1% when you pay). It also has a long introductory APR period on balance transfers.
Pros
- Gain 2% cash back on every purchase.
- Enjoy 0% APR for the first 18 months from account opening on balance transfers.
- Enjoy flexible usage. No caps or categories to track.
- Redeem your cash back for a statement credit, direct deposit, check, or convert it to Citi ThankYou® Points.
- Enjoy zero annual fee.
Cons
- Expect difficulty when it comes to international usage. There is a 3% foreign transaction fee.
- Expect a balance transfer fee of either $5 or 3% of the amount of each transfer.
- Don’t expect a welcome bonus or introductory APR period on purchases.
- Have excellent or good credit to qualify for this card.
- Needs you to pay your bill in full and on time to earn the full 2% cash back rate.
- Has no welcome bonus.
- Gives 2% cash back on every purchase.
- Charges zero annual fees.
- Offers intro APR of 0% for the first 18 months from account opening on balance transfers.
- Has a regular APR (13.99%-23.99%).
3. Chase Freedom Flex
9.4/10
Pick this card because it is one of the best cash-back cards with no annual fee and rotating bonus categories. Get a high rewards rate of up to 5% cash back on categories that change every quarter, such as gas stations, grocery stores, restaurants, and more. You can also get a bonus cash back on travel, dining, and drugstores, as well as a generous welcome bonus and a long introductory APR period on purchases and balance transfers.
Pros
- Earn 5% cash back in categories that rotate quarterly on up to $1,500, 5% on travel, 3% on dining and drugstores, and 1% on all other purchases.
- Get a $200 bonus when you spend $500 on buying and services in your first three months from account opening.
- Enjoy 0% APR for the first 15 months from account opening on purchases and balance transfers.
- Enjoy unlimited cash back and rewards with no expiration date.
- Allows you to transfer your rewards to other Chase cards.
Cons
- Expect a 3% foreign transaction fee.
- Stresses you with a balance transfer fee of either $5 or 3% within 60 days of account opening. After that, $5 or 5% of the amount of each transfer.
- Needs you to activate the bonus categories every quarter to earn the 5% cash-back rate.
- Requires excellent or good credit to qualify for this card.
- Presents you a high regular APR of 20.49% to 29.24%.
- Benefit from a $200 bonus after you spend up to $500 on purchases in your first three months from account opening.
- Earn 5% cash back in categories that rotate quarterly on up to $1,500, 5% on travel purchases, 3% on dining, and 1% on all other purchases.
- Offers an annual fee of $0.
- Get an intro APR of 0% for the first 15 months from account opening.
- Gives you a regular APR between 20.49% – 29.24%.
4. PayPal Cashback Mastercard®
9.2/10
Imagine a credit card that has a good flat-rate cash back with no annual fee. It offers you a simple and consistent rewards structure. Earn 2% cash back on every purchase, with no caps or categories to worry about. Also, it doesn’t trouble you with foreign transaction fees, which makes it suitable for international travel.
Pros
- Earn 2% cash back on every purchase, with no limits or expiration.
- Lacks foreign transaction fees.
- Has no annual fee.
- Helps in redeeming your cashback to your PayPal balance at any time.
- Enjoy the benefits of Mastercard, such as ID theft protection, extended warranty, and price protection.
Cons
- Requires you to have a PayPal account to apply for and use this card.
- Offers no welcome bonus or introductory APR period on purchases or balance transfers.
- Demands balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
- Demands an excellent or good credit to qualify for this card.
- Offers a high regular APR ranging from 20.99% to 29.99%.
- Has no welcome bonus.
- Offers 2% cash back on every purchase.
- Has no annual fee.
- Offers no intro APR.
- Offers a regular APR: 20.99% – 29.99%.
5. American Express Blue Cash Everyday® Card
9/10
Get a great cash-back card with no annual fee and bonus categories that offer a high rewards rate on groceries, gas stations, and select U.S. department stores. You can also have a generous welcome bonus and a long introductory APR period on purchases.
Pros
- Earn 3% cash back at U.S. supermarkets, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on other purchases.
- Earn a $200 statement credit after spending $1,000 in purchases on your new Card in your first 3 months.
- Enjoy 0% APR for the first 15 months from account opening on purchases.
- Offers you no annual fee.
- Enjoy the benefits of American Express, such as car rental loss and damage insurance, a global assist hotline, and shopping and entertainment offers.
Cons
- Charges you 2.7% as a foreign transaction fee.
- Doesn’t give you an introductory APR period on balance transfers.
- Requires a balance transfer fee of either $5 or 3%.
- Needs excellent or good credit.
- Gives a high regular APR ranging from 20.49% to 29.24%.
- Earn a $200 statement credit after spending $1,000 in purchases on your new Card in your first 3 months.
- Earn 3% cash back at U.S. supermarkets, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on other purchases.
- Has $0 annual fees.
- Offers intro APR of 0% for the first 15 months from account opening on purchases.
- Has a variable APR between 13.99%-23.99%.
Overview Best Credit Cards With No Annual Fee Cash Back
Understand that this article reflects the credit card categories that simultaneously offer cash back and no annual fees.
Cash-back cards with no annual fee combine the advantages of both types of cards, allowing you to earn rewards on your spending without paying a fee. These cards are ideal for you if you want to save money and get value from your credit card.
However, cash-back cards with no annual fee may have some drawbacks, such as higher interest rates, lower credit limits, fewer perks, or more restrictions on redemption options. Therefore, you must compare different cards and choose the one that suits your needs and preferences best.
How to Apply for the Best Credit Cards With No Annual Fee Cash Back
- Compare different cash back cards and choose the one that suits your spending habits, credit score, and redemption preferences.
- Check your credit score and report to make sure you meet the eligibility criteria for the card you want.
- Gather the required information and documents for the application, such as your personal details, income, employment, bank account, and social security number.
- Fill out the online application form on the card issuer’s website or app.
- Wait for the approval decision from the card issuer.
Pros & Cons of Best Credit Cards With No Annual Fee Cash Back
- Pros
- Earn rewards on your spending without paying a yearly fee for using the card
- Choose from different types of cash back cards, such as flat-rate, bonus category, or rotating category cards, depending on your spending habits and preferences.
- Redeem your cash back for various options, such as statement credit, direct deposit, check, gift cards, or online shopping.
- Cons
- Has higher interest rates, lower credit limits, fewer perks, or more restrictions on redemption options than other types of cards.
- Requires a good or excellent credit score to qualify.
- Lacks a welcome bonus or an introductory APR period on purchases or balance transfers.
What to Watch Out For
- Avoid paying interest on your purchases by paying your balance in full and on time every month.
- Make sure you choose the right card for your spending habits and preferences.
- Be aware of the fees and limitations of your card.
- Activate the bonus categories if your card requires it.
Pro Tips
- Pick a card that fits your spending and rewards preferences.
- Pay off your balance every month to avoid interest fees.
- Avoid any fees or penalties by reading your card’s terms and conditions.
- Activate the bonus categories every quarter to earn more cash back.
- Use different cards for different categories to maximize your rewards.
- Redeem your cash back regularly and wisely for the best value.
Recap
In conclusion, having the urge to use the best credit cards with no annual fee and cash back is a good thought. Cash-back credit cards with no annual fee are a great way to earn rewards on your spending without paying anything extra.
However, not all these cards offer equal benefits. You need to compare different cards and choose the one that suits your spending habits, credit score, and redemption preferences. In addition, pay attention to the fees, limitations, and features of each card, and use them responsibly and wisely. By following these tips, you can find the best cash-back card with no annual for your needs and maximize your rewards.
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