Why A No Annual Fee Credit Card Is A Better Option In 2024

June 14, 2024 By: Eliyah A. - CreditMonarch Online Writer0 comments

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

If you want to keep your expenses down, a credit card without an annual fee is the way to go. You don’t need to pay to open a credit card account and there’s no annual fee to use your card. If you can manage to pay off the balance on your credit card completely every month, you won’t have to pay any interest either. Remember that failing to pay off the balance in full each month will result in interest payments on the remaining amount you owe. Fees will be incurred if you exceed your credit limit or make a payment after the due date.

To prevent paying any unnecessary fees on your credit card, be sure to check the payment due date on your monthly credit card bill. Setting up a direct debit payment could be the solution for you, as there’s no chance of forgetting and getting charged for late payments. Ensure that you have sufficient funds in your current account monthly to cover your credit card bill.

A no annual fee credit card might be suitable for you if you want a credit card that is easy to use or you want to keep your credit card expenses low. This type of credit card is also great if you’re good at paying off the full balance each month and don’t have a large outstanding credit card debt to pay off or simply if you want an extra credit card for occasional use.

Many credit cards don’t charge an annual fee. You can often find a fee-free credit card offering valuable travel or cash back rewards. Or one with a 0% APR offer, allowing you to consolidate your debt and build your credit. The best credit cards with no annual fees often offer a solid rewards program, sign-up bonus, and added perks. The best card for you should align with your spending habits and how you want to use your rewards. Here at CreditMonarch, we believe these are the best credit cards with no annual fee in 2024.

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• No annual fee