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How to Choose a No-Annual-Fee Card

Many credit cards yield awesome benefits, but those perks frequently come at a cost: $95 annual fees are not unusual, and in some cases the fee can escalate to $450-595. For a true points and miles enthusiast with many credit cards, having a few with no annual fee can help keep expenses down. Like other types of cards, no annual fee cards are not created equal. Here are some of the key things to look for:

Cashback: If you believe that cash is king, it’s possible to earn between 1-5% back on a variety of cards, which can add up to a hefty sum at the end of the year. It’s important to do your homework, though. Some cards will limit earning to specific categories, and others will cap the earnings you can achieve in those categories. If you make the right choice, this can be one of the simplest ways to maximize your benefits.

0% interest on transfers and purchases: To get the most out of the points and miles hobby, it’s best to pay your balances in full every month. … Read More

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