Benefits Of A No Annual Fee Credit Card
Obviously, one of the biggest attractions of the no annual fee card is the money it could save you. While some credit cards have annual fees that extend to hundreds of dollars each year, with this card, you pay zip. If you’re trying to keep costs down, if you want to save money on the non-essentials, this type of card could make that happen.
Access Credit For Free
There’s no rule that says you have to pay to access credit. If you’re smart, you can access credit without having to pay anything in either fees or interest. By choosing a card with no annual fee, by paying off your balance before it starts accruing interest, and by avoiding all unnecessary fees, you can access credit using your credit card without paying through the nose for the privilege.
Access Card Features For Free
Cards with no annual fee for life tend to offer basic features, but if that’s all you need, you can enjoy them all for free. Cards that waive their annual fee after meeting a minimum spend or through an intro offer, essentially allow cardholders to try out all the features on offer for free. With an intro offer, you can get a feel for a card, working out whether it’s right for you.
Earn Rewards For Free
While rewards on cards with no annual fee ever are rare, they do exist. Earning rewards on a card with a no annual fee intro offer is more common, and may even be paired with a bonus points offer. These cards allow you to earn rewards as you pay out nothing in annual fees, potentially offering awesome value.
Types Of Cardholders Suited To No Annual Fee Cards
Wondering whether a no annual fee card would suit you? Check out the following types of cardholders no annual fee cards tend to suit best.
These cardholders are interested in saving money. They either don’t want to spend money paying out annual fees on their credit card, or they don’t feel that a credit card is something they should have to pay money for.
Occasional Card Users
These cardholders rarely use their credit card, and may only use it once or twice a month. With this low usage, they don’t want to pay out lots in annual fees, and wouldn’t see much return in either features or rewards if they had a more expensive card.
For Emergencies Only
These cardholders only keep a credit card for emergencies. Relying on cash or their debit card day-to-day, they like to keep a credit card as back-up should a large expense come along that they can’t cover upfront.
New To Credit
These cardholders are new to credit. Suddenly having access to credit can be a heady experience, sometimes leading to mistakes with overspending. A no annual fee card with a low purchase rate can help to keep costs down, even when mistakes happen.
Only The Basics
These cardholders are not interested in fancy features or earning rewards – they simply want access to credit. As a no frills option, a no annual fee credit card can be easier to understand, with less small print to wade through than cards with complex features.
If any of these sound like you, take some time to check out the no annual fee cards offered on this page. Click, read the small print, check out the review, and apply if the card looks like a good fit. It’s that easy.