Best No Annual Fee Credit Cards Of May 2024

The Discover it® Cash Back has a rotating selection of cash-back bonus categories, which makes the card lucrative if you’re willing to register and maximize your spending every quarter. The Cashback Match™ offer can make this card especially rewarding for the first year you hold it.

Rewards: Earn 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Welcome offer: Earn Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There's no minimum spending or maximum rewards.

Other benefits and drawbacks: If you want to set it and forget it, look elsewhere. To get the rotating cash-back category bonus, you have to activate the feature each and every quarter. Miss your enrollment and you’ll miss out on a significant amount of rewards.

This card offers a generous intro APR offer. New cardholders can get a 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 17.24% - 28.24% variable applies. A balance transfer fee of up to 5% of the amount transferred applies.

As far as no-annual-fee travel cards go, the Capital One VentureOne Rewards Credit Card (rates & fees) credit card offers a decent base rewards rate and the ability to redeem with Capital One Travel or transfer to travel partners mostly at a 1:1 ratio, making it a great pick for regular traveler who don’t want to pay an annual fee.

Rewards: Earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase.

Welcome offer: Earn 20,000 miles after spending $500 on purchases within 3 months from account opening, equal to $200 in travel.

Other benefits and drawbacks: The Capital One VentureOne Rewards Credit Card offers travel accident insurance, extended warranty benefits and an auto rental collision damage waiver. Rewards can be redeemed through PayPal or Amazon.com or Capital One Travel, as well as a handful of other redemption options. For added convenience, Capital One provides virtual card numbers from Eno, $0 fraud liability protection for unauthorized charges, autopay and 24/7 customer service as well as the Capital One mobile app so you can access your account from wherever you are.

The Chase Freedom Flex℠ doesn’t charge an annual fee, yet still offers up to 5% cash back on eligible purchases—up to $1,500 per quarter. You can also earn a generous initial welcome bonus, and you’ll get an intro APR on purchases of 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies.

Rewards: Earn 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.

Welcome offer: Earn $200 bonus after spending $500 on purchases in the first 3 months from account opening.

Other benefits and drawbacks: The Chase Freedom Flex℠ rotating categories could help you earn $75 per quarter in rewards if you max the category out.

This card technically earns Chase Ultimate Rewards® points, but it’s marketed as a cash-back card. If you have a premium Chase credit card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card, your points can be combined to receive a better redemption on travel booked through the Chase Travel℠ portal or to transfer your points to any of Chase’s travel partners.

As an added bonus, this card comes with purchase protection against damage or theft and extended warranties on eligible items that come with a manufacturer’s warranty. You’ll also receive an introductory APR on purchases, which could make this card a good choice if you want to earn rewards without paying interest on purchases during your introductory period.

The Discover it® Miles offers simple, flat-rate cash back rewards on all card purchases. Plus, Discover automatically matches all of the miles you earn during your first year with the card.

Rewards: Earn 1.5 miles per dollar on every purchase.

Welcome offer: Unlimited match of all the miles earned at the end of the first year.

Other benefits and drawbacks: With the Discover it Miles card, you can redeem miles for statement credits on eligible travel purchases, cash back to a linked bank account as well as toward online shopping at Amazon.com or when you pay with PayPal. The card also features a lengthy 0% intro APR on purchases and balance transfers for the first 15 months of account opening. After that, a variable APR of 17.24% - 28.24% applies. A balance transfer fee of up to 5% of the amount transferred applies.

The IHG One Rewards Traveler Credit Card offers tons of value to travelers for a no-annual-fee card. Like many hotel cards, it earns an extremely high reward rate for stays at brand hotels and resorts. As a cardholder, you’re automatically upgraded to Silver Elite status and can earn Gold Elite status with card spending each calendar year. Perhaps the most valuable card perk is when you redeem three reward nights, you get the fourth night free.

Rewards: Earn up to 17 points per dollar spent at IHG Hotels & Resorts, 3 points on qualifying monthly bills, gas stations, select streaming services and restaurants and 2 points on all other purchases.

Welcome offer: Earn 80,000 bonus points after spending $2,000 on purchases in the first 3 months of account opening.

Other benefits and drawbacks: IHG One Rewards Silver Elite status includes other benefits like late checkout, no blackout dates for reward nights and a discount on points purchases. Its travel benefits extend beyond IHG, with no foreign transaction fees and several travel protections available for cardholders.

The Bank of America® Customized Cash Rewards credit card provides a long intro APR period and a unique rewards structure that allows users to pick a bonus category each billing cycle. Though its bonus categories are capped, the lack of an annual fee makes the card an inexpensive way to maximize certain rewards for many consumers.

Rewards: Earn 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.

Welcome offer: Earn $200 online cash rewards bonus after spending $1,000 in purchases in the first 90 days of account opening.

Other benefits and drawbacks: The Bank of America® Customized Cash Rewards credit card offers a 0% introductory APR for 15 billing cycles for purchases and balance transfers, 19.24% - 29.24% variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer during this period, then 4%. Bank of America Preferred Rewards members earn 25% to 75% more cash back on each purchase, which means the 3% category would earn 3.75% to 5.25%.

If you like the idea of getting increased cash back on some categories but don’t like the idea of having to opt in every quarter, the Citi Custom Cash® Card could be for you.

Rewards: Earn 5% cash back on purchases in a top eligible spend category up to the first $500 spent each billing cycle, 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025 and 1% cash back on all other purchases.

Welcome offer: Earn $200 in cash back after spending $1,500 on purchases in the first 6 months of account opening. The bonus points come in the form of 20,000 ThankYou® Points that can be redeemed for $200 cash back.

Other benefits and drawbacks: The eligible bonus categories include: Restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment. There’s no guarantee that your spending will match the quarterly categories.

Spending after the $500 monthly threshold in your top eligible spend category earns cash back at a lower rate, making the Custom Cash a valued supporting player rather than the star of your wallet. It could pair well with another Citi card as points can be combined among ThankYou point-earning accounts.

While the Citi Rewards+® Card may not be the best overall Citi card, it rewards smaller, everyday purchases better than most cards. That’s because every purchase you make with Citi Rewards+ rounds up to the nearest ten points on every purchase. If you make a lot of small purchases each month, this card could be worth considering.

Rewards: Earn 2 ThankYou Points per dollar at supermarkets and gas stations for the first $6,000 in spending per year and 1 ThankYou Point per dollar on other eligible purchases, plus 5 ThankYou® Points per dollar on hotel, car rentals and attractions booked on CitiTravel.com through December 31, 2025.

Welcome offer: Earn 20,000 bonus points after spending $1,500 in purchases within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.

Other benefits and drawbacks: Citi allows you to combine ThankYou points earned from multiple Citi cards into one account, making the Citi Rewards+ a better option when paired with a more valuable Citi card.

The Citi Rewards+ has rewards caps on its bonus categories, limiting its value and creating a more challenging rewards structure to track. It’s also not a good card option for travel since it charges a 3% foreign transaction fee.

The Prime Visa offers great rewards at Amazon businesses and an additional year of extended warranty protection for eligible warranties of up to three years in length. Though it charges no annual fee nor foreign transaction fees, it does require a Prime Membership which starts at $139 per year for non-students.

Rewards: Earn 5% back on purchases at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership, 2% back at gas stations, restaurants and on local transit and commuting (including rideshare), and 1% back on other purchases.

Welcome offer: Earn $100 Amazon gift card upon approval with an eligible Prime membership.

Other benefits and drawbacks: In addition to the extended warranty benefit, the Prime Visa offers a bevy of Visa Signature consumer and travel protections including travel and emergency assistance, reimbursement for lost luggage, baggage delay insurance, travel accident insurance, roadside dispatch and purchase protection. On purchases of $50 or more, cardholders can opt to split them up into no-interest monthly installments of six to 12 months in lieu of earning rewards.

If you frequently use Instacart for grocery shopping and deliveries, the Instacart Mastercard® can help you earn cash back on your food purchases along with other common spending categories. Plus, you receive a free year of Instacart+ and a $100 Instacart credit automatically upon approval. Instacart+ features additional benefits like unlimited free delivery on orders over $35 and lower service fees.

Rewards: Earn 5% cash back on Instacart app and Instacart.com purchases, and on travel purchased through Chase Travel, 2% cash back at restaurants, gas stations and on select streaming services and 1% cash back on all other purchases.

Welcome offer: Earn a free year of Instacart+ and a $100 Instacart credit automatically upon approval.

Other benefits and drawbacks: Instacart is known for its convenience but may not be the best grocery credit card if you are a frugal shopper or prefer to shop in person. Instacart doesn’t control item pricing, so some retailers mark up their prices above their in-store rates.

The Instacart Mastercard comes with World Elite Mastercard benefits, including numerous travel and consumer protections.

The Bank of America® Customized Cash Rewards credit card for Students offers an opportunity for students to build their credit profile while earning cash-back rewards. The card’s reward structure is a bit complex to navigate but allows you to customize rewards-earning to fit your spending habits.

Rewards: Earn 3% cash back in the category of choice and an automatic 2% at grocery stores and wholesale clubs. Bonus earning is limited to the first $2,500 in the 3% and 2% categories combined each quarter. Earn an unlimited 1% on all other purchases.

Welcome offer: Earn a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

Other benefits and drawbacks: The Bank of America® Customized Cash Rewards credit card for Students features several useful benefits for students, including free FICO Score access to track your credit progress. The student credit card comes with generous intro APR offers on purchases and balance transfers, but also negatives like a penalty APR and foreign transaction fees.

If you prefer cash back to other types of rewards, it doesn’t get much better than Chase Freedom Unlimited®, especially among cards with no annual fee. The popular Chase card earns elevated cash back on all purchases in addition to a few valuable bonus categories.

Rewards: Earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year.

Welcome offer: Earn an additional 1.5% cash back on up to $20,000 spent in the first year, worth up to $300 cash back.

Other benefits and drawbacks: With the Chase Freedom Unlimited, you’ll get a 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. An intro transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies in the first 60 days of account opening. After that, a fee of either $5 or 5% of the amount of each transfer applies. Also, the cash-back card features travel protections like secondary rental car coverage, trip cancellation/interruption insurance and travel and emergency assistance services. Unfortunately, it’s not the best card to use when traveling abroad since it charges a foreign transaction fee.