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Top No Annual Fee Rewards Credit Cards for 2024

Are you searching for a rewards credit card that doesn’t charge a dreaded annual fee? Well, you’re in luck. Below, we explore some of the best options that let you reap rewards without paying a penny in annual fees. Whether you’re a travel enthusiast, a food lover, or someone who likes cash back, there’s a card for you.

1. Chase Freedom Flex℠

  • Pros:
    • Versatile Rewards Structure: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.
    • Sign-Up Bonus: Offers a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
    • Intro APR: 0% Intro APR for 15 months from account opening on purchases, then a variable APR applies.
  • Cons:
    • Rotating Categories: Requires you to keep track of changing categories to maximize rewards.
    • Foreign Transaction Fees: Not ideal for international travelers due to foreign transaction fees.

2. Citi® Double Cash Card

  • Pros:
    • Simple Cash Back Structure: Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
    • Flexible Redemption Options: Redeem cash back for checks, statement credits, or gift cards.
    • Intro APR: 0% for 18 months on Balance Transfers, ideal for those looking to manage existing credit card debt.
  • Cons:
    • No Bonus Categories: Unlike some other cards, there’s no opportunity to earn extra rewards on specific purchase categories.
    • Lack of Sign-Up Bonus: There’s no initial sign-up bonus, which might be less enticing for some.

3. Capital One SavorOne Cash Rewards Credit Card

  • Pros:
    • Generous Reward Rates: Unlimited 3% cash back on dining, entertainment, popular streaming services, grocery stores (excluding superstores like Walmart® and Target®), and 1% on all other purchases.
    • No Foreign Transaction Fees: Great for travelers.
    • Welcome Offer: Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.
  • Cons:
    • Limited Higher Rewards: Higher rewards are confined to specific categories.
    • Approval Difficulty: It might be harder to get approved for without a good to excellent credit score.

4. Discover it® Cash Back

  • Pros:
    • Rotating Reward Categories: Earn 5% cash back on everyday purchases at different places each quarter, such as Amazon.com, grocery stores, restaurants, and gas stations, and when you pay using PayPal, up to the quarterly maximum when you activate.
    • Cashback Match: Discover will automatically match all your cash back earned at the end of your first year.
    • No Foreign Transaction Fees: Another plus for international purchases.
  • Cons:
    • Quarterly Activation Required: You need to remember to activate the bonus categories each quarter.
    • Category Limitations: The 5% reward rate is limited to $1,500 in quarterly purchases.

5. American Express Blue Cash Everyday® Card

  • Pros:
    • Reward Specialization: 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 2% at U.S. gas stations and select U.S. department stores, and 1% on other purchases.
    • Intro Offer: $200 statement credit after you spend $2,000 in purchases on your new card within the first 6 months.
    • Intro APR: 0% on purchases for 15 months, an excellent option for big upcoming purchases.
  • Cons:
    • Reward Cap: The 3% and 2% categories have limitations on annual spending.
    • Slightly Less Flexibility: Rewards are more targeted, which can be less beneficial if your spending varies outside of the bonus categories.

Final Thoughts Choosing a no-annual-fee rewards credit card can be a smart financial move, particularly if you pay off your balances each month to avoid interest charges. Each card offers unique benefits, so consider your spending habits and preferences to find the best fit for you. Whether it’s rotating categories, flat-rate rewards, or special perks in travel or dining, there’s likely a card that aligns well with your spending. Always consider how each card’s benefits stack up against your specific needs before making a decision.