Low & No Annual Fee Credit Cards

Low or no annual fee credit cards are addressed to those with good credit history who wish to make cash on their purchases. 

Whereas most credit cards charge annual account maintenance fee, these products are either free of this charge or charge very low.

They are mostly addressed to those clients who use their credit cards for emergencies or use them regularly to make purchases but always completely clear off their balance each month. This is because very often the interest rate on purchases is high, thus the saving made on annual fee will be negatively balanced by higher interest charged if the balance is not cleared each month in full.

Some banks restrict low/no annual fees credit cards for customers with very good to excellent credit score, so it is worth to check before you make an application

On the other hand these cards may lack reward schemes and perks present with other schemes. However, this is not a rule, as some prestigious cards that do not charge an annual fee do not remove these benefits, such as:  cashback bonus, travel and auto insurance, purchase protection and extended warranties on purchased goods.

When comparing low/no annual fee credit cards it is worth to analyze such issues as: the annual fee, the interest rate, interest free days, balance transfer offers, associated rewards and perks.