The 11 Best No Annual Fee Credit Cards with Great Rewards in 2023

Finding a credit card with no annual fee that also offers great rewards can feel like searching for a unicorn. Most of the top rewards cards charge a hefty annual fee, leaving budget-focused consumers feeling left out.

But never fear – there are still some stellar no annual fee credit cards out there that offer solid rewards programs without charging you each year just for the privilege of being a cardholder. In this comprehensive guide, we’re rounding up the very best no annual fee credit cards that deliver strong rewards, so you can maximize your benefits without having to pay hundreds of dollars per year.

How We Chose the Best No Annual Fee Credit Cards

When compiling this list of top no annual fee rewards credit cards, we looked at some key factors to identify the most rewarding options:

• Rewards rates: We looked for cards that offer high rewards rates in common categories like dining, groceries, gas, travel, etc.
• Welcome bonuses: The best no annual fee cards offer generous welcome bonuses you can earn when you open the account and meet minimum spend requirements.
• Benefits: Perks like rental car insurance, travel protections, purchase protections, and extended warranties add value.
• Flexibility: The best no annual fee rewards cards allow you to redeem your earnings for cash back, statement credits, gift cards, or travel.
• Bonus categories: We favored cards with bonus earn rates on multiple categories versus only one.

Based on these factors, we picked credit cards that offer lasting value without charging an annual fee. Read on for our top no annual fee card picks!

Best Overall: Wells Fargo Active Cash Card

• Earn unlimited 2% cash rewards on purchases
• $200 cash rewards bonus after spending $1,000 in the first 3 months
• Cell phone protection covers damaged or stolen devices
• No annual fee

For a flat earning rate on all purchases, the Wells Fargo Active Cash Card is our choice for the best overall no annual fee rewards credit card. You’ll earn an unlimited 2% cash rewards on every dollar you spend – a high return for a no annual fee card.

New cardholders can also take advantage of the $200 cash rewards bonus after spending $1,000 on purchases in the first 3 months. Plus, cell phone protection is included which provides up to $600 of coverage for damaged or stolen devices with a $25 deductible.

The Active Cash Card is an excellent everyday spending card with no rotating categories or activation to earn the 2% cash rewards. Redeem your earnings for cash back, gift cards, travel, credits to your Wells Fargo accounts, and more with no minimum redemption amount. You won’t miss out on rewards opportunities with this easy-to-use cash back credit card.

Pros

• Unlimited 2% cash back on every purchase
• Generous $200 cash rewards bonus
• Cell phone protection
• No annual fee

Cons

• Foreign transaction fee
• Cash rewards can only be redeemed in $25 increments

For a simple but rewarding no annual fee cash back credit card, the Wells Fargo Active Cash Card is a top choice that delivers strong value.

Best for Dining and Entertainment: Capital One SavorOne Rewards Credit Card

• 3% cash back on dining, entertainment, popular streaming services & grocery stores (1% on all other purchases)
• $200 cash bonus after spending $500 on purchases within 3 months of account opening
• 0% Intro APR for 15 months on purchases & balance transfers
• No annual fee

The Capital One SavorOne Rewards credit card is packed with valuable benefits, including an especially generous earning rate on frequent spending categories. You’ll earn an unlimited 3% cash back on dining, entertainment, popular streaming services and grocery stores. All other purchases earn 1% cash back.

New SavorOne cardholders can earn a $200 cash bonus after spending $500 on purchases within 3 months from account opening. This card also offers a 0% Intro APR for 15 months on purchases and balance transfers.

Redeem your cash back for statement credits or checks, and enjoy valuable perks like Extended Warranty Protection, Auto Rental Collision Damage Waiver, and access to entertainment and dining discounts. There’s no minimum redemption amount or foreign transaction fees.

Pros

• 3% cash back at restaurants, entertainment, streaming & groceries
• $200 cash bonus
• 15 months 0% Intro APR
• No annual fee

Cons

• 1% cash back on non-bonus spend
• Balance transfer fee

With generous bonus categories and solid rewards on everyday spending, the SavorOne card is a top pick for maximizing dining, entertainment, and grocery rewards with no annual fee.

Best for Gas and Groceries: Blue Cash Everyday Card from American Express

• 3% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%)
• 2% cash back at U.S. gas stations & select U.S. department stores
• 1% cash back on other purchases
• $200 statement credit after spending $2,000 on purchases in first 6 months
• No annual fee

The Blue Cash Everyday Card from American Express is a stellar pick for earning rewards on grocery and gas purchases. You’ll earn 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases (1% after), 2% back at U.S. gas stations and select U.S. department stores, and 1% back on other purchases.

New Card Members can earn a $200 statement credit after spending $2,000 on purchases within the first 6 months of account opening. With no annual fee, the rewards can quickly add up, especially for families who spend heavily on groceries and gas.

Cash back can be redeemed as statement credits or gift cards. The Blue Cash Everyday also provides access to Amex Offers for discounts at select retailers. You’ll also get benefits like Return Protection, Purchase Protection, and Car Rental Insurance.

Pros

• 3% cash back at U.S. supermarkets
• 2% cash back at U.S. gas stations
• $200 statement credit bonus
• No annual fee

Cons

• 3% grocery rewards capped at $6,000 per year
• Foreign transaction fees

With bonus rewards for grocery and gas spending, the Blue Cash Everyday Card is one of the best no annual fee credit cards for saving on frequent purchases.

Best for Flexible Travel Rewards: Bank of America Customized Cash Rewards credit card

• 3% cash back category of your choice (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings)
• 2% cash back at grocery stores & wholesale clubs
• 1% cash back on all other purchases
• $200 online cash rewards bonus after $1,000 in spend within 90 days of account opening
• No annual fee

The Bank of America Customized Cash Rewards credit card allows you to earn higher rewards rates on the category you spend the most on each month. You’ll earn 3% cash back on one category you choose like gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.

All other purchases earn 1% cash back, and you’ll get 2% cash back at grocery stores and wholesale clubs. New cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

Redeem your cash rewards for statement credits, direct deposit, Bank of America deposits, gift cards, and more. There are no foreign transaction fees and no annual fee.

Pros

• 3% cash back on one custom category each month
• 2% cash back at grocery stores & wholesale clubs
• $200 online cash rewards bonus
• No annual fee

Cons

• Cash rewards expire if account is closed

With flexible bonus categories and easy-to-earn rewards, the Customized Cash Rewards card is great for maximizing rewards on your biggest spending categories.

Best Student Credit Card: Discover it® Student Cash Back

• 5% cash back in bonus categories that rotate each quarter (up to the quarterly maximum, currently $1,500)
• 1% cash back on all other purchases
• Cash back match bonus – Discover will match all the cash back you’ve earned at the end of your first year
• No annual fee

The Discover it Student Cash Back credit card offers generous rewards and benefits tailored for students. You’ll earn 5% cash back in bonus categories that rotate each quarter, including:

• January – March: Grocery stores, Fitness clubs & Gym memberships, Streaming services
• April – June: Gas stations, Target & Walmart, Select rideshares
• July – September: Restaurants, PayPal, Amazon.com
• October – December: Amazon.com, Walmart & Target.com, Department stores

All other purchases earn 1% cash back. Discover will even match all the cash back you earn as a new cardholder at the end of your first year. So you could turn $150 cash back into $300!

There’s no minimum redemption amount and no annual fee. Students also get benefits like free access to their FICO credit score online and good grades rewards. It’s one of the best student cards for earning cash back.

Pros

• 5% cash back in rotating bonus categories
• Cashback match bonus
• No annual fee
• Perks for students

Cons

• Cash back match only for first year
• Foreign transaction fee

With generous earning rates and valuable perks for students, the Discover it Student Cash Back card offers outstanding rewards.

Best Sign Up Bonus: Chase Freedom FlexSM

• $200 bonus after you spend $500 on purchases in your first 3 months from account opening
• 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter
• 3% cash back on drugstore & dining purchases
• 1% cash back on all other purchases
• 0% Intro APR for 15 months on purchases
• No annual fee

Scoring the Chase Freedom FlexSM credit card’s hefty welcome bonus is easy with a minimum spend requirement of just $500 within 3 months of account opening. By signing up and meeting this minimum spend, you’ll earn $200 cash back.

Beyond the initial bonus, the rotating 5% cash back categories help you maximize savings on frequent purchases like gas, travel, grocery stores, and more. Ongoing 3% cash back at dining, including takeout and eligible delivery services, drugstores, and 1% cash back on other purchases rounds out the rewards earnings.

New cardholders get 0% intro APR for 15 months on purchases before a 16.49% – 25.24% Variable APR. Redeem rewards for cash back, travel, gift cards, credits to your Chase account, and more. There are no limits on the amount of cash back you can earn, and the rewards won’t expire.

Pros

• $200 sign up bonus after $500 spend in 3 months
• 5% cash back in rotating quarterly categories
• No annual fee

Cons

• 3% foreign transaction fee
• Cash back can only be redeemed in increments of $25

For those looking to maximize a sign up bonus and rotating category rewards, the Chase Freedom Flex is a top pick with no annual fee.

Best for Travel: Wells Fargo Rewards Visa® Card

• Earn unlimited 1.5x points on every purchase
• 50,000 bonus points ($500 value) after spending $3,000 in purchases in the first 3 months
• Up to $600 cellphone protection against damage or theft (subject to $25 deductible)
• No annual fee

Globetrotters should consider the Wells Fargo Rewards Visa® Card for easy-earning travel points with no annual fee. You’ll earn 1.5x points per $1 on every purchase, with no limits on the points you can accumulate. New cardholders can earn 50,000 bonus points by spending $3,000 on purchases in the first 3 months – worth up to a $500 travel redemption.

Points can be redeemed for airfare, hotels, rental cars, cruises, and tours with no blackout dates. Your points don’t expire as long as your account remains open. This card even provides up to $600 in cellphone protection when you use it to pay your monthly cell bill.

With no foreign transaction fees, the Wells Fargo Rewards Visa Card lets you maximize travel savings at home or abroad. Use your points to cover upcoming trips or save up for a special getaway.

Pros

• 1.5x points on every purchase
• 50,000 point sign up bonus worth $500 in travel
• Cellphone protection up to $600
• No annual fee

Cons

• Points only redeemable for travel purchases

For a straightforward travel rewards card with a generous bonus and no annual fee, the Wells Fargo Rewards Visa Card delivers.

Best Cash Back Match: Chase Freedom Unlimited®

• 5% cashback on travel purchased through Chase Ultimate Rewards®.
• 3% cash back on dining at restaurants, including takeout and eligible delivery services, and drugstores
• 1.5% cash back on all other purchases
• $200 cash back bonus after spending $500 within the first 3 months of account opening
• Cashback match welcome offer – Chase will match all the cash back you’ve earned at the end of your first year
• No annual fee

The Chase Freedom Unlimited® combines solid ongoing cash back rates with lucrative limited time offers. You’ll earn 3% cash back on dining, 3% at drugstores, and 1.5% on all other purchases. Right now, new cardholders can also earn 5% cash back on travel booked through Chase!

New Freedom Unlimited cardholders can earn $200 cash back when you spend $500 on purchases in your first 3 months from account opening. Plus, Chase will match all the cash back you earn at the end of your first year.

Redeem your rewards for any amount starting at just 1 cent per point for cash back, gift cards, travel and more through Chase Ultimate Rewards®. With no annual fee, this is an exceptional value card for earning accelerated cash rewards.

Pros

• 3% cash back on dining & drugstores
• 1.5% cash back on other purchases
• Cashback match welcome bonus
• $200 sign up bonus after $500 spend
• No annual fee

Cons

• 5% cash back on Chase travel purchases only
• No welcome bonus for current cardholders

Chase Freedom Unlimited lets you maximize cash back earning potential through its generous limited time offers, especially for new cardholders.

Best Business Card: Ink Business Unlimited® Credit Card

• Earn 1.5% cash back on every purchase with no limit on the amount you can earn
• $750 bonus cash back after you spend $7,500 on purchases in the first 3 months
• No annual fee
• Employee cards at no extra cost

Business owners should consider adding the Ink Business Unlimited® to maximize cash back rewards for their company’s expenses. You’ll earn an unlimited 1.5% cash back on every purchase with no cap on how much you can earn.

New cardholders can earn $750 bonus cash back after spending $7,500 on purchases in the first 3 months from account opening. There’s no annual fee for this card, and employee cards come at no extra cost.

The cash back you earn can be redeemed for statement credits, direct deposit, gift cards, and more. The Ink Business Unlimited also provides useful perks like cell phone protection, purchase protection, and extended warranty.

Pros

• 1.5% unlimited cash back on every purchase
• $750 cash back bonus
• No annual fee
• Free employee cards

Cons

• Minimum $25 increments for cash back redemptions

With easy to earn rewards, a generous bonus, and no annual fee, the Ink Business Unlimited is a smart choice for small businesses.

Best for Balance Transfers: Citi® Double Cash Card

• Earn 2% cash back on all purchases with 1% earned when you buy and 1% as you pay for those purchases
• 0% Intro APR for 18 months on balance transfers
• No late fees or penalty rate
• No annual fee

If you need to consolidate high interest debt, the Citi® Double Cash card offers an exceptional 0% Intro APR for 18 months on balance transfers. During the intro period, you’ll pay no interest on transferred debt. After the intro APR expires, ongoing balance transfers and purchases accrue interest at a variable 16.24% – 26.24% APR.

You can also maximize rewards by earning 2% cash back on all purchases with 1% earned when you buy and 1% as you pay for those purchases. There’s no limit to how much cash back you can earn.

Redeem cash back for statement credits, direct deposit, or checks. The Citi Double Cash card has no annual fee and won’t penalize you for late or missed payments with an increased APR.

Pros

• 0% Intro APR for 18 months on balance transfers
• 2% cash back on all purchases
• No penalty APR
• No annual fee

Cons

• 3% balance transfer fee
• Foreign transaction fee

The valuable intro APR offer on the Citi Double Cash card can help you save big on interest, while you earn cash back rewards.

Best Guaranteed Approval: Discover it® Secured

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter
• 1% cash back on all other purchases
• Cashback match – Discover will match all the cash back earned at the end of your first year
• No annual fee

The Discover it Secured card makes it easy to establish credit by requiring a refundable security deposit for approval. Your initial credit line equals your security deposit between $200-$2,500. Making on-time payments can help you graduate to an unsecured card and get your deposit back in as little as 8 months.

You can build rewards

You can build rewards while establishing credit with 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases. Discover will even match the cash back you’ve earned at the end of your first year.

Additional cardholder perks include free access to your FICO® Score online, no overlimit fees, and no late fee on your first late payment. It’s a great low-risk option for building credit.

Pros

• Guaranteed approval by providing a security deposit
• Earn cash back rewards
• Cashback match at the end of first year
• No annual fee

Cons

• Security deposit required
• Foreign transaction fee

For those with limited credit or looking to switch from secured to unsecured, the Discover it Secured Card offers an accessible path to establish and build credit.

Best for Bad Credit: Capital One Platinum Secured Credit Card

• No security deposit or minimum credit score required for approval
• Qualifying on-time payments could increase your credit line over time
• Receive monthly credit trend notifications
• No annual fee

The Capital One Platinum Secured card is unique among secured cards in not requiring an upfront security deposit or minimum credit score for approval. Your initial credit line will be $200 after account approval and making your first 5 monthly payments on-time.

Good payment history can result in higher credit limits and graduation to an unsecured card. You’ll receive monthly notifications about your credit trend and have access to credit building tools through the Capital One app.

While this card doesn’t offer rewards, it provides an accessible starting point for establishing credit with the potential to grow your credit limit without needing a deposit. The lack of rewards is offset by no annual fee.

Pros

• No deposit or minimum credit score required
• Credit line increases based on payment history
• Credit building resources
• No annual fee

Cons

• No rewards
• Low initial $200 credit limit

With the opportunity to grow your credit without a security deposit requirement, the Capital One Platinum Secured is a strong pick for those with poor credit.

Best for Fair Credit: Petal® 2 “Cash Back, No Fees” Visa® Credit Card

• 1% to 1.25% cash back on eligible purchases after 6 months of on-time payments
• 1% cash back on all purchases immediately
• Up to $300 interest-free credit line increase after 12 on-time payments
• No annual fee, no foreign transaction fees, no late fees
• No credit check – approval based on income and banking history

The Petal 2 “Cash Back” card makes it easy to establish or rebuild credit without fees or even a hard credit check. Approval is based on your banking account deposits and income versus credit score.

You’ll earn 1% cash back immediately on all purchases. After 6 months of on-time payments, you’ll earn 1.25% to 1.5% cashback based on your credit profile. This card offers the opportunity to graduate to an unsecured card and increase your credit limit by up to $300 after 12 on-time monthly payments.

With no late fees, no foreign transaction fees and no annual fee, the Petal 2 card helps you build credit responsibly. Cash back is redeemable as a statement credit in any amount.

Pros

• Cash back without fees or credit checks
• Credit limit increase opportunity
• No annual, foreign transaction or late fees

Cons

• Requires linking bank account
• Must apply for credit line increase

The Petal 2 Card allows consumers with limited credit to earn cash back rewards while improving their credit.

Choosing the Best No Annual Fee Credit Card

While all the cards on this list provide strong value without charging an annual fee, you’ll want to consider your spending habits and financial goals to choose the right card for your needs:

Everyday purchases: For unlimited cash back on all purchases, the Wells Fargo Active Cash is ideal. The Capital One SavorOne maximizes common spend categories like dining, groceries, and entertainment.

Gas and groceries: Earn bonus rewards at supermarkets and gas stations with the Blue Cash Everyday Card from American Express or the Customized Cash Rewards Card from Bank of America.

Travel rewards: The Wells Fargo Rewards Visa Card offers easy-earning travel points that can be redeemed for flights, hotels, and more.

Rotating categories & sign up bonuses: Chase Freedom Flex and Discover it Cash Back give you opportunities to maximize quarterly categories and one-time bonuses.

Bad credit: Rebuild your credit with either the Discover it Secured Card or Capital One Platinum Secured Credit Card.

Fair credit: Earn cash back while establishing your credit history with the Petal 2 Visa Credit Card.

Business expenses: Earn unlimited 1.5% cash back on all business purchases with the Ink Business Unlimited Credit Card.

Get the Most from a No Annual Fee Credit Card

Whichever card you choose, be sure to implement smart credit card habits to get the most value:

• Always pay your bill on time and in full if possible to avoid interest charges. Set up autopay if that helps you stay on track.
• Take advantage of benefits like purchase protections, rental coverage, and extended warranties when applicable.
• Notify your card issuer immediately if your card is lost or stolen.
• Keep your credit utilization low by limiting balances to 30% or less of your total credit limit.
• Review your credit report regularly and dispute any errors with the credit bureaus to maintain good standing.

Choosing a top no annual fee credit card can help you maximize rewards without the burden of high annual fees. Implement smart habits to keep your accounts in good standing and get the most value from your new card.

Frequently Asked Questions (FAQ)

What is the best no annual fee travel credit card?

The Wells Fargo Rewards Visa® Card is one of the best no annual fee travel credit cards. You’ll earn unlimited 1.5x points per $1 on purchases that can be redeemed for flights, hotels, rental cars, cruises and more. New cardholders can also earn 50,000 bonus points worth up to $500 in travel redemptions.

Do no annual fee credit cards have sign up bonuses?

Yes, many excellent no annual fee credit cards offer sign up bonus rewards when you open a new account and meet minimum spend requirements in the first 3 months. For example, the Chase Freedom Flex offers $200 cash back after spending $500 on purchases within the first 3 months.

What is the easiest no annual fee credit card to get approved for?

The Discover it Secured Credit Card is one of the easiest no annual fee cards to get approved for because it requires an upfront security deposit that becomes your credit limit. This gives you guaranteed approval regardless of credit score. After establishing responsible use, Discover may graduate your account to an unsecured card and refund your deposit.

Are there any no annual fee credit cards that offer airport lounge access?

Unfortunately airport lounge access is a premium perk not typically available on no annual fee credit cards. Cards that offer complimentary lounge visits, like the Chase Sapphire Reserve or Amex Platinum, charge $250+ annual fees. Your best bet for free or discounted lounge visits is an airline co-branded credit card.

What is the best no annual fee credit card for students?

The Discover it Student Cash Back card is an excellent option for students. You’ll earn 5% cash back in rotating categories each quarter and 1% back on other purchases. Discover also offers a cash back match at the end of your first year. There’s no annual fee.

Can you earn travel rewards with a no annual fee credit card?

Yes, there are several no annual fee credit cards that allow you to earn points or miles you can redeem for travel. Examples include the Wells Fargo Rewards Visa Card, Chase Freedom Flex, and Bank of America Customized Cash Rewards. Many cards also let you redeem cash back rewards for travel purchases.

Does canceling a no annual fee credit card hurt your credit?

Canceling any credit card could have a minor negative impact on your credit scores. The account will remain on your credit reports for 10 years after closing. A better approach is to keep no annual fee cards open but avoid using them if you don’t want to pay interest or earn rewards.

What is the easiest no annual fee credit card to get approved for with fair credit?

The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is a great option for consumers with limited credit history. It requires no credit check for approval – just income and banking information. You can earn cash back while improving your credit. After 12 months of on-time payments, credit limits may be increased.

Can you product change a credit card to avoid an annual fee?

Many credit card issuers allow you to convert your existing credit card to another product in their lineup as long as you don’t have a past due balance. This enables you to keep the account history without paying an annual fee. Contact your card issuer to ask what no annual fee products are eligible for conversion.

What credit cards offer the most rewards with no annual fee?

The Wells Fargo Active Cash Card offers an industry-leading 2% cash rewards on every purchase with no annual fee. Other top options for maximum rewards without annual fees include:

• Capital One SavorOne: 3% back on dining, entertainment, streaming services & groceries
• Citi Double Cash: 2% back on all purchases (1% when you buy, 1% when you pay)
• Chase Freedom Unlimited: 3% back on dining and drugstores, 1.5% back on all other purchases