No Annual Fee Credit Cards

July 23rd, 2010

No annual fee credit cards used to be the first choice for a person who only used their card occasionally and didn’t really get the benefits from having a lot of features.

No Annual Fee Credit Cards

Today when you look at the range of feature available it’s hard not get overwhelmed with all the choices available. But then the problem comes down to identifying which is the right card for you and which one will give you the best benefits.

High end users who want gold and platinum cards with high credit limits and luxury perks to fit their lifestyle are not interested in no annual fee cards. To these people earning more than $50,000 a year, paying a $60 annual fee doesn’t matter too much one way or the other.

However not everyone has that luxury and many of us need to live on a tighter budget, where paying $60 can make quite a bit of difference. An annual fee is an extra expense we would rather not have but it’s a downside of wanting to have a credit card for emergencies.

Which credit card is best for me?

Fortunately today there are quite of few credit card options that don’t have an annual fee attached, but they come with fairly high interest rates ranging from 16% – 20%. This is where you need to examine your spending habits. If you only make the occasional purchase, and pay your balance in full each month, then the high interest rate isn’t an issue because you won’t accrue any, consequently you benefit by having no annual fee credit cards.

But if you are a frequent shopper using your card regularly to make purchases and carry your balance over from month to month, you would be better advised to look at a low interest card with an annual fee. Whilst you will have to pay an annual fee that cost is outweighed by the savings in interest that you make.

Before you make any decisions it’s important to shop round and make some comparisons. The credit card market has become very competitive and lenders are continually bringing out new deals and offers in an attempt to entice new customers.

So whether you are looking for no annual fee credit cards or low interest cards it is still worthwhile looking at the different comparisons of offers on each to find the one that will give you the best benefits when matched to your spending habits.

Your choice of a credit card should not be based on the one criteria of whether you pay an annual fee or not.

Editors Choice: Featured Credit Card Deals

	Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)