Right now there is a lot of credit cards out there, and I know its hard to know which credit cards to get if your just starting out. But don’t worry thats why I’m here, I have done my due diligence and I found the best credit cards with no annual fee in the market right now.
If you’re looking to maximize your rewards without breaking the bank, these cards are for you.
1. Capital One Savor One
Our first card on the list is the Capital One Savior One. With a 200 cash bonus once you spend 500 or more in 3 months, this card is great for those who want simplicity.
You’ll earn unlimited
- 1% cash back on all purchases
- 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart and Target)
- 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases
- 8% cash back on Capital One Entertainment purchases
- 10% back in uber or uber eats.
This is insane, 10% back its no joke, you will not find this anywhere else. Plus you’ll get Uber One membership on them.
Lastly you will also have No Foreign Transaction Fees.
While the Capital One Savior One card has numerous benefits, it’s essential to consider the cons as well. One significant drawback is that the 10% back on uber & uber eats will end in November 14, 2024, meaning that after 11/14/2024 you wont be getting uber one membership nor 10% back on uber one. Thats why I recommend anyone to get the card now, so you can start taking advantage of the 10% back on uber.
Recommend credit score: 670 and higher
2. Chase Freedom Flex
The second card on the list is one of my favorite ones, and that is Chase freedom flex, with the same welcome bonus as the Capital One Savior One of $200 dollars once you spend $500 or more in three months, this card is perfect for those who love to earn rewards in multiple categories.
It offers
- 5% cash back on up to $1,500 spent in rotating quarterly categories, like gas stations, grocery stores, and restaurants. Right now in this second quarter of 2023, you’re getting 5% cash back on Amazon and Lowe’s.(will change in future)
- 5% on travel purchased through Chase
- 3% on dining at restaurants
- 3% on drugstore purchases
- 1% on all other purchases.
Another benefit that not to many people know about is the $10 dollar a month in Gopuff and $10 dollar each quarter in Instacart.
This card is a great beginner card, this was actually my first card that I had any kind of cash back, and I honestly love it.
Recommend a credit score: 670 or higher.
The only con I see in this card, is that you have to activate the 5% cash back each quarter, which takes less than 2 min, so it’s not that bad.
3. Chase Freedom Unlimited
Now let’s talk about the Chase Freedom Unlimited. This card is almost identical to the Chase Freedom Flex, the only difference being that with this card you’ll earn unlimited 1.5% cash back on every purchase instead of 1% back like the Freedom Flex.
However, note that this card does not have the 5% back in rotating categories like the Freedom Flex. So it’s up to you to choose which one you prefer. I have both, and that’s what I personally recommend to everyone. The sign-up bonus for this card is the same as the previous two cards, which is $200 after you spend $500 in 3 months. Both of these cards also offer a 0% introductory APR for 15 months, meaning you can carry a balance without incurring any fees.
*But please, I don’t recommend carrying a balance. Always pay your card in full. Sadly, too many people have the bad habit of carrying a balance, and that’s the way to go, use your card and then pay it in full.
4. Wells Fargo Active Cash
Next up is the Wells Fargo Active Cash. This card is known for its simplicity and high cash back rate. You’ll earn an unlimited 2% cash back on every purchase, which is higher than many other cards in the market. The card also offers a sign-up bonus of $200 after you spend $500 in the first 3 months, before you had to waist $1,000 in order for you to got the $200 dollars, this one also has 0% APR for the first 15 months. You also will get cell phone protection, up to $600 of protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card.
Recommend a credit score: 670 or higher.
One downside is that the card does charge foreign transaction fees, so be cautious if you plan to use it while traveling abroad.
5. Bilt Mastercard Rewards Card
Last but not least, let’s talk about the Bilt Mastercard. This card is unique because it offers rewards specifically for renters.
You’ll earn
- 1x points on your rent payments, which can be redeemed for various benefits like travel, shopping, or even future rent credits.
- 2x points on travel
- 3x on dining, and 1x on other purchases.
This card is perfect for renters. I don’t have this card personally because I don’t rent at the moment, but I’m thinking of getting it and telling my brother who lives in San Francisco to pay his $2,000 a month rent. If I do that, I would be getting back $240 a year for doing practically nothing.
Two cons of this card are that it doesn’t offer a sign-up bonus and you must make at least 5 purchases each statement period to earn 1X points on rent.
Recommend a credit score: 710 or higher.
So, to recap our top five credit cards without an annual fee, we have the Capital One SavorOne, offering simplicity and 10% back in Uber and Uber Eats. The Chase Freedom Flex, ideal for those who want to earn rewards in multiple categories. The Chase Freedom Unlimited, providing a straightforward 1.5% cash back on every purchase. The Wells Fargo Active Cash, offering a high 2% cash back rate. And lastly, the Bilt Mastercard, for renters.
If you are just starting, I would highly recommend getting both of the Chase cards because Chase has the 5/24 rule, which means that if you opened 5 or more personal credit cards in the past 24 months, you will automatically be declined for any Chase credit card. And, in all honesty, Chase has, in my opinion, one of the best credit cards. Cards like the Sapphire Preferred and all the Ink Business cards offering high welcome bonus offers. So don’t make the same mistake I did and get other cards before completing your Chase trifecta.
