The Best No Annual Fees Credit Cards of 2020

Advertiser Disclosure

Advertiser Disclosure

This website is an independent, advertising-supported comparison service. The product offers that appear on this site are from companies from which this website receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not include all card companies or all card offers available in the marketplace. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

 

This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

 

Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

Our opinions are our own and are not influenced by the payment we receive from our advertising partners. However, this post may contain references to products from our partners. It may impact which products and where the product appears on a page. Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

You have a choice to get a card with an annual fee or one with a free annual fee.  You might be asking: why would you get one where you have to pay something when there’s a free one available?  After all, an annual fee can range from $49 to $550 for a credit card.

The annual fee will basically provide the cardholder more valuable purchase rewards and benefits than their ‘free’ counterparts.  A good rule to follow your annual fee decision is how often you plan to use the card.  If you will be paying $49 for the card, you should earn at least $49 in rewards to break-even and maybe profit from the rewards.  If you plan on using the card sporadically, a no-fee card is better.

Mant cash back cards do not charge an annual fee.  This makes them a good option as a second card or a primary card for the budget-conscious. Besides the no annual fee benefit, all of the cards below offer rewards on everyday purchases. 

Here are The Smart Investor Select’s picks for the top no annual fee credit cards:

American Express Everyday

On AMEX Secure Website

American Express Everyday

Reward details

Earn 2X Points at U.S. Supermarkets (up to $6,000 per year in purchases) and 1X Points on Other Eligible Purchases

Current Offer

10,000 Membership Rewards® Points after you spend $1,000 in qualifying purchases on the Card within your first 3 months

Credit Rating Needed

Good – Excellent

Annual Fee

None
  • Overview
  • Card Features
  • Pros & Cons

The Blue Cash Everyday from the American Express is a very good option among rewards cards for individuals that rank up spending at the grocery checkout and gas pump. The Blue Cash Everyday offers an amazing 3% cash back rate at the united state's supermarkets once you spend up to $6,000 in a year, as well as a 2% competitive rate at any gas station for a zero-dollar annual fee card.

The Blue Card Everyday also offers new cardmembers a $200 statement credit bonus. However, to qualify for this bonus, you need to spend up to $1000 on eligible purchases in the first three months of obtaining the card.In 2019, American Express ranked 2nd overall for customer satisfaction according to the J.D. Power U.S. Credit Card satisfaction survey.

 
  • APR: 12.99% – 23.99%
  • Annual fee: None
  • Balance Transfer Fee: Unknown
  • Foreign Transaction Fee: 2.70%
  • Rewards Plan: Earn 2X Points at U.S. Supermarkets (up to $6,000 per year in purchases) and 1X Points on Other Eligible Purchases
  • Sign Up bonus: 10,000 Membership Rewards® Points after you spend $1,000 in qualifying purchases on the Card within your first 3 months
  • 0% APR Introductory Rate period: 15 months
  • 10,000 Points Sign-Up Bonus
  • Rewards Plan
  • 20% Bonus Points
  • No Annual Fee
  • 0% APR Introductory Rate on Balance Transfers and Purchases in the First 15 Months
  • No Balance Transfer Fee
  • High APR
  • Foreign Transaction Fee
  • Variations in Reward Points’ Worth
  • There are Better Rewards Cards
  • Not as Widely Accepted as Other Cards
  • Flexible Redemption

Citi Simplicity

Citi Simplicity Credit Card Review

On Citi one Secure Website

Citi Simplicity

Reward details

None

Current Offer

None

Credit Rating Needed

Good – Excellent

Annual Fee

None
  • Overview
  • Card Features
  • Pros & Cons

If you need a card that will give you the freedom to pursue your dreams without pesky fees, Simplicity by Citi offers you a perfect solution. You need a credit score of between 690 to 850 to qualify for this card, and there are zero charges on purchases made within the first one year.

The Simplicity card also grants the holder free transfers for the first one year, which is a great incentive for anyone who wishes to get this card. As a bonus, there are no late fees or annual fees when using this card ever. The card has a J.D. Power rating of 799 from a 2020 survey carried out by the establishment.

 
  • APR: 14.74% - 24.74%
  • Annual fee: None
  • Balance Transfer Fee: $5 or 3%
  • Foreign Transaction Fee: 3%
  • Rewards Plan: None
  • Sign Up bonus: None
  • 0% APR Introductory Rate period: 0% Intro APR for 18 months on purchases and balance transfers.
  • Extreme Forgiveness
  • No Annual Fee
  • 0% Purchases & Balance Transfer Intro APR (18 months)
  • No Rewards System
  • High APR
  • 5% Balance Transfer Fee

HSBC Cash Rewards Mastercard

HSBC Cash Rewards Mastercard_registered_ credit card review

On HSBC Secure Website

HSBC Cash Rewards Mastercard

Reward details

Unliimited 1.5 cash rewards on every $1 you spend

Current Offer

3% intro cash back on all purchases in the first 12 months from Account opening, up to the first $10,000

Credit Rating Needed

Good – Excellent

Annual Fee

None
  • Overview
  • Card Features
  • Pros & Cons

HSBC Cash Rewards Mastercard is a straight forward cash back rewards card for those looking simplify their rewards. This Mastercard is offered though HSBC which a larger multinational bank based out of Britain.

This card has a generous 3% cash back on all spending in the first year and a competitive 1.50% cash back on all other spendings. Also, the HSBC Cash Rewards does not have an annual fee.

One of the top notch benefits is the 0% Introductory APR on purchases and balance transfers for the first 12 months months from Account opening. The ongoing APR for the HSBC Cash Rewards Mastercard is a 13.99% – 23.99%. 

 
  • APR: 13.99% - 23.99%
  • Annual fee: None
  • Balance Transfer Fee: $10 or 4%
  • Foreign Transaction Fee: None
  • Rewards Plan: Unliimited 1.5 cash rewards on every $1 you spend
  • Sign Up bonus: 3% intro cash back on all purchases in the first 12 months from Account opening, up to the first $10,000
  • 0% APR Introductory Rate period: 0% introductory APR on purchases and balance transfers for the first 12 months
  • Introductory Bonus
  • Cashback on Purchases
  • No Annual Fee
  • 0% APR Introductory Rate on Balance Transfers and Purchases
  • Anniversary Bonus
  • No Foreign Transaction Fee
  • Balance Transfer Fee
  • Cap on Rewards
  • Redemption Minimum
  • Longer Introductory Rates, Better Pure Cashback Cards
  • High APR

Wells Fargo Cash Wise Visa

Wells Fargo Cash Wise Visa Card review

On Wells Fargo Secure Website

Wells Fargo Cash Wise Visa

Reward details

Unlimited 1.5% cash rewards on purchases

Current Offer

$150 cash rewards bonus when you spend $500 in purchases in the first 3 months

Credit Rating Needed

Good – Excellent

Annual Fee

None
  • Overview
  • Card Features
  • Pros & Cons

Wells Fargo Cash Wise Visa Card is a straightforward cashback card. This card offers a simple 1.50% back on all purchases with no limit or special categories.

This card offers many benefits to those wanting a simple straightforward card. It does not come with an annual fee and has a decent sign-up bonus  of $150 cash rewards bonus when you spend $500 on your new card within the first 3 months.

Many cash back rewards cards in a category similar to that of the Wells Fargo Cash Wise Visa Card come with an annual fee which eats into your cashback rewards.  

 
  • Rewards Plan: Unlimited 1.5% cash rewards on purchases
  • APR: 14.49% - 24.99%
  • Annual fee: None
  • Balance Transfer Fee: $5 or 5%
  • Foreign Transaction Fee: 3%
  • Sign Up bonus: $150 cash rewards bonus when you spend $500 in purchases in the first 3 months
  • 0% APR Introductory Rate period: 0% introductory APR on purchases and balance transfers for the first 15 months
  • $150 Cashback Sign-Up Bonus *
  • 1.5% Cashback on All Purchases
  • No Annual Fee
  • 0% APR Introductory Rate
  • Flexible Redemption
  • Earn Additional Cash Back
  • There are Better Pure Cashback Cards
  • Minimum Redemption Amounts
  • Foreign Transaction Fee
  • Balance Transfer Fee
  • High APR