• What are no annual fee credit cards?

No annual fee credit cards provide consumers with a credit card that demands no opening charges. They are generally only practical for a small group of users that rarely use their credit cards, usually only holding them as a form of backup. If you think you fall into this category then no annual fee credit cards can save you money. However, these cards do not offer interest free days, so any purchases made will be instantly subject to the standard interest rate.

• Is this type of card right for me?

As annual fees often provide issuers with their guarantee for return, these cards tend to have higher rates on purchases and cash advances, while offering no interest free days. For this reason, no annual fee credit cards are more suitable for those that use their credit card very rarely and always  pay off the balance immediately.

See our Best No Annual Fee Credit Cards.