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The No Annual Fee Credit Card Advantage

If you're currently shopping around for credit cards you may be considering which one is the right one for you. With so many credit card offers to choose from it can be confusing and frustrating. Should you go with the low interest rate card, a cash reward or one that provides movie certificates and airline tickets?

The first place to start, when choosing a new credit card, is look at your spending history. If you are a conservative credit card spender and mainly use it for large purchases, occasional travel or a potential emergency you can be classified as a conservative credit card user. These are consumers that won't benefit from credit card rewards or other perks geared for those frequent credit card users if a steep annual fee goes along with the credit card. When a low interest rate and travel points don't entice you, a no annual fee credit card might be a good choice.

It's also important to factor in your finances and if you'll maintain a credit card balance should you charge that annual trip to the beach, make a large purchase or have any emergencies arise. Weighing the cost of utilizing a no annual fee card with a higher interest rate against a card with a lower interest rate but a $50 annual fee is smart financial planning. We all like to say we won't use our credit cards but if your budget is currently pretty tight you might be pulling out that Visa more often than you like to admit. If paying only the monthly minimum card each month is your short term future than honestly the interest rate should be the larger driver.

Once you identify your realistic spending trends and how much you'll be able to pay off each month you are in the right place to choose the credit card for you. But with any card you choose, look very closely at the annual fees, any application fees and late fees associated with payments that come after the due date. For interest rates look closely at the current interest rate and if that is introductory or fixed. Also read closely on what will trigger an interest rate increase. If you've decided that a reward card is a good fit, then consider how those reward points are earned and at what rate. Will that rate change in the future and do rewards expire over time.

Overall, no annual fee credit cards have an advantage over those with hefty charges but only when your spending is conservative and you are not interested in cash back or other rewards for frequent spending.

Bank of America Hikes Bonuses on 2 No-Annual-Fee Cards

Some of the products we feature are from our partners. Here's how we make money. No-annual-fee credit cards with sign-up bonuses worth $200 or more used to be rare - but not these days. Bank of Americ...

Published:  Thu, 09 Aug 2018 17:34:00 GMT



This new credit card offers 4% back on dining, but is it a good deal

Here's one reason to put your avocado toast and poke bowls on credit - if you can pay them off ... American Express introduced the Cash Magnet card in June, which comes with no annual fee and offers 1 ...

Published:  Tue, 14 Aug 2018 07:21:00 GMT



The best credit card you can use to pay off debt with no balance transfer fee

But you can find cards that offer lengthy no-interest periods and don't charge this ... We vetted each card based on its reward offers, introductory and eventual APR, annual fee, bonus, recommended cr...

Published:  Tue, 14 Aug 2018 08:14:00 GMT



New rewards credit card for foodies, but how does it compare

"The beauty of the credit card rewards you can easily earn a baseline 2 percent return on everything with no annual fee," McBride said, noting the Citi Double Cash and Fidelity Visa offer 2 percent ba...

Published:  Tue, 14 Aug 2018 13:33:00 GMT



Can I Consolidate Credit Card Debt Into a Mortgage

Low Interest Credit Cards 0% Intro Rate Credit Cards Balance Transfer Credit Cards No Annual Fee Credit Cards No Foreign Transaction Fee Cards Rewards are one of the most requested features in credit ...

Published:  Mon, 13 Aug 2018 12:24:00 GMT



What really matters with your first credit card

Or ask a parent to add you as an authorized user on a card with history of on-time payments and a balance that's far below the limit. NO ANNUAL FEES Avoiding an annual fee on your first credit card is ...

Published:  Tue, 14 Aug 2018 19:07:00 GMT



4 credit cards you can open now and use to save on holiday travel - the sign-up bonuses are enough for a free flight

Instead, you're best focusing on your airline-agnostic credit card points ... fact that the card has no foreign transaction fees, makes it a great option when traveling internationally. The Barclaycar...

Published:  Fri, 10 Aug 2018 11:42:00 GMT



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