Best Cash Back Credit Cards No Annual Fee
When it comes to credit cards, finding one that offers cash back rewards without an annual fee can be a game-changer. These cards allow you to earn money on your everyday purchases, providing a valuable opportunity to save and maximize your spending. In this article, we will explore the best cash back credit cards with no annual fee, highlighting their features, benefits, and how they can help you make the most of your money.
1. Chase Freedom Unlimited
The Chase Freedom Unlimited card is a popular choice for cash back rewards. It offers a flat rate of 1.5% cash back on all purchases, making it a great option for those who want a simple and straightforward rewards program. Additionally, new cardholders can earn a $200 bonus after spending $500 on purchases within the first three months of account opening.
Key features of the Chase Freedom Unlimited card:
- 1.5% cash back on all purchases
- No annual fee
- $200 bonus for new cardholders
- Introductory 0% APR for the first 15 months on purchases and balance transfers
2. Citi Double Cash Card
The Citi Double Cash Card is another top contender in the cash back credit card market. It offers 2% cash back on all purchases – 1% when you make the purchase and an additional 1% when you pay it off. This unique feature encourages responsible payment behavior while maximizing your cash back rewards.
Key features of the Citi Double Cash Card:
- 2% cash back on all purchases (1% when you make the purchase and 1% when you pay it off)
- No annual fee
- No limit on the amount of cash back you can earn
- Introductory 0% APR for balance transfers for the first 18 months
3. Discover it Cash Back
The Discover it Cash Back card is known for its rotating bonus categories that offer higher cash back rates. Cardholders can earn 5% cash back on up to $1,500 in purchases in these categories each quarter, and 1% cash back on all other purchases. Discover also matches all the cash back earned in the first year for new cardholders, making it an attractive option for maximizing rewards.
Key features of the Discover it Cash Back card:
- 5% cash back on rotating bonus categories (up to $1,500 in purchases each quarter)
- 1% cash back on all other purchases
- No annual fee
- Discover matches all cash back earned in the first year for new cardholders
4. Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card offers a flat rate of 1.5% cash back on all purchases, similar to the Chase Freedom Unlimited card. However, it also provides a $200 cash bonus for new cardholders who spend $500 on purchases within the first three months of account opening. Additionally, this card has no foreign transaction fees, making it a great choice for frequent travelers.
Key features of the Capital One Quicksilver Cash Rewards Credit Card:
- 1.5% cash back on all purchases
- No annual fee
- $200 cash bonus for new cardholders
- No foreign transaction fees
5. Wells Fargo Cash Wise Visa Card
The Wells Fargo Cash Wise Visa Card offers a competitive cash back program with a unique feature – it provides cell phone protection when you pay your monthly cell phone bill with the card. Cardholders can earn 1.5% cash back on all purchases and enjoy a $150 cash bonus after spending $500 on purchases within the first three months of account opening.
Key features of the Wells Fargo Cash Wise Visa Card:
- 1.5% cash back on all purchases
- No annual fee
- $150 cash bonus for new cardholders
- Cell phone protection when you pay your monthly cell phone bill with the card
6. Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards Credit Card offers a flexible cash back program that allows cardholders to choose their own bonus category. You can earn 3% cash back in a category of your choice (such as gas, online shopping, dining, travel, or drugstores) and 2% cash back at grocery stores and wholesale clubs, up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases. All other purchases earn 1% cash back.
Key features of the Bank of America Cash Rewards Credit Card:
- 3% cash back in a category of your choice
- 2% cash back at grocery stores and wholesale clubs
- 1% cash back on all other purchases
- No annual fee
Frequently Asked Questions (FAQ)
1. Are there any hidden fees associated with cash back credit cards?
No, the cash back credit cards mentioned in this article do not have any hidden fees. However, it is always important to read the terms and conditions of any credit card to ensure you understand all the fees and charges associated with it.
2. Can I redeem my cash back rewards for anything I want?
Most cash back credit cards allow you to redeem your rewards for a variety of options, including statement credits, gift cards, merchandise, or even direct deposits into your bank account. However, redemption options may vary depending on the credit card issuer.
3. Do cash back rewards expire?
For the cards mentioned in this article, cash back rewards do not expire as long as your account remains open and in good standing. However, it is always a good idea to check the specific terms and conditions of your credit card to confirm the expiration policy.
4. Can I earn cash back on balance transfers?
Typically, cash back rewards are not earned on balance transfers. However, some credit cards may offer promotional cash back rates for balance transfers during the introductory period. It is important to check the terms and conditions of your specific credit card to understand its policy on cash back rewards for balance transfers.
5. Are there any limitations on earning cash back rewards?