Friday, April 16, 2010

Save Money With No Annual Fee Credit Cards

No annual fee credit cards don't charge you a yearly fee for the privilege of using them. Most of today's consumers strongly resist the idea of paying extra money for the opportunity to make banks and other financial institutions more money. Interest charges are enough of an additional cost. Creditors have wised up to this trend and there are not as many credit cards that charge an annual fee than there once was. Credit cards may still charge an annual fee for three main reasons:

  1. For providing a fixed low interest rate.
  2. For providing extra rewards and other perks.
  3. For prestige.

Fixed Low Interest Rate Services

The credit cards that charge an annual fee are often ones with a fixed low rate that could make it worth the money charged. But there are also plenty of other no annual fee credit cards that offer low fixed interest rates.

The American Express SimplyCash Business Card has an annual interest rate of 7.75%, a 12-month zero-interest introductory period, and 5% cash back rewards on gas, wireless services, and office supplies. Not everyone will be able to get the SimplyCash Business Card from American Express for the simple reason that not everyone wants or qualifies for a business card. Those who fit into this category have other options.

The Discover Open Road Card has a regular interest rate of 10.99% with a six-month zero-interest introductory period. The card offers other incentives like a 5% Cashback Bonus for gas and vehicle maintenance purchases. Cashback Bonus points are easy to use and never expire as long as you continue using your card. There's also the Pulaski Bank Visa Gold Card. It's a no annual fee credit card with a regular interest rate of just 9.5% and a six-month zero-interest introductory period on all balance transfers. There are no other perks with this card, but the money saved on interest may be enough of a reward.

The Blue from American Express has a moderate interest rate of 11.74%, but also provides an introductory 0% interest rate for as long as 15 months on all balance transfers.

Extra Rewards Services

Other credit card companies and banks may justify annual fee charges by claiming that the rewards users receive are worth the extra yearly cost. The decision about whether or not the rewards are worth the annual fee is entirely up to you. You should, however, be aware that you could be wasting your money if you're paying a yearly fee just for the rewards the card offers. There are several no annual fee credit cards that offer rewards or other perks that might be similar to the annual fee cards.

The Discover Open Road Card, as mentioned earlier, offers Cashback Bonus points. The Chase Platinum Visa Card provides free travel services such as an Auto Rental Collision Damage Waiver and Worldwide Travel Accident Insurance.

The Miles by Discover Card is another no annual fee credit card with perks. With this card you'll get double miles on travel and restaurant purchases up to $3,000 each year. These miles only expire if you stop using your card before you redeem them. Redeeming the miles with this card is easy and can be booked through any airline, travel agent or online travel site. The card places no restrictions on your travel.

The Speedway SuperAmerica Platinum MasterCard gives away 10,000 bonus Speedy Reward Points after your first purchase and 10 points for every dollar spent where MasterCard credit cards are accepted. Points can be redeemed for gas discounts, free merchandise and sometimes valuable coupons.


Some credit cards, like prestige credit cards, cater to those in a certain income bracket. Some prestige cards have age restrictions as well. But users often pay hefty annual fees for the privilege to use these cards. It's better to get a no annual fee card that offers you what you need and want instead of paying for a card just to impress people.

Marc Ilgen is an internet entrepreneur and author. He runs a website called to help people apply online for a credit card. His website also lets viewers compare some terrific credit card offers for people who want a no annual fee credit card.


Devid said...

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Scratch Cards
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