These 2 Credit Cards Have Shockingly Generous Perks With No Annual Fees
KEY POINTS
- Some credit cards without annual fees have top-tier rewards programs that can maximize your spending.
- If you want to finance a purchase or transfer a balance, there's an excellent no-fee credit card for that.
- If you spend a ton at Costco or on Amazon, there are options for you.
There are some credit cards with hefty annual fees and long lists of benefits. And while you aren't going to find credit cards with no annual fee that are quite as feature-rich, there are some with surprisingly good rewards programs and promotional financing offers.
With that in mind, here are three credit cards with no annual fees that you might want to take a closer look at in 2024.
1. Prime Visa
The Prime Visa credit card from Chase doesn't have an annual fee, but it's important to note that you have to be an Amazon Prime member to qualify for it. (Note: There's a non-Prime version as well, known as the Amazon Visa.)
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Like most no annual fee credit cards, there aren't a ton of fringe benefits for this card. But the rewards program is fantastic, especially if you're a frequent Amazon shopper. Cardholders get 5% back at Amazon.com, Amazon Fresh, Whole Foods, and on Chase Travel purchases. They'll also earn 2% back in rewards on gas, restaurants, and transit purchases, and 1% back on other purchases. Just to put this into perspective, if you spend $500 with Amazon and Whole Foods each month, you'd get $300 back per year in Amazon Rewards.
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Chase's Secure Website.
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
19.49% - 27.49%, variable
Rewards Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership, unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and unlimited 1% on all other purchases
1% - 5% back
Annual Fee
$0
Welcome Offer Get a $100 Amazon Gift Card instantly upon approval exclusively for Prime members
Get a $100 Amazon Gift Card
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If you have an Amazon Prime account, do we have the card for you! This one is part of Chase's lineup, and earns a whopping 5% cash rewards on Amazon, Whole Foods, and Amazon Fresh purchases. Best of all, that cash back is available to you as soon as the next day -- so if you make frequent Amazon purchases and have a Prime membership, you'll easily save. Read Full Review
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- Big Amazon and Whole Foods rewards
- Instant Amazon gift card
- No annual fee
- Consumer and travel protections
- No 0% intro APR offer
- Requires Prime membership
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- Get a $100 Amazon Gift Card instantly upon approval exclusively for Prime members
- Earn unlimited 5% back at Amazon.com, Amazon Fresh, and Whole Foods Market with an eligible Prime membership
- Earn unlimited 5% back on Chase Travel purchases with an eligible Prime membership
- Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
- Earn unlimited 1% back on all other purchases
- No annual credit card fee
- No more waiting. Redeem daily rewards at Amazon.com as soon as the next day
- Member FDIC
2. Costco Visa Card
Like the Prime Visa, the Costco Anywhere Visa® Card by Citi doesn't directly charge an annual fee, but you must be a Costco member (which will cost you $60 or $120 per year, depending on membership level). And even if you don't do a massive amount of shopping at Costco, this card could be well worth having.
Its rewards program pays 1% to 4% in Costco rewards, and it might surprise you to learn that Costco purchases aren't even the highest-paying category. The card pays 4% on gas and EV charging, up to $7,000 in spending per year, which is one of the highest flat-rate gas rewards on our radar. It earns 3% on restaurants and travel spending, 2% on Costco purchases, and 1% on everything else.
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= Good
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= Best
= Excellent
= Good
= Fair = PoorExcellent (740-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
20.49% (Variable)
Rewards 4% back on gas and EV charging ($7,000 annual spending cap), 3% back on restaurants and travel, 2% back on Costco purchases, 1% back on other purchases
1% - 4% back
Annual Fee
$0 for Costco members
Welcome Offer
N/A
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Hard to beat for Costco shoppers with the lucrative rewards program and no annual fee for members. The cash back rates on gas and EV charging are among the highest you'll find. Read Full Review
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- Gas and EV charging cash back
- Costco cash back
- Travel and dining cash back
- Purchase protections
- No foreign transaction fee
- No sign-up bonus
- No intro APR offer
- Clunky cash back redemptions
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- Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
- 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
In full disclosure, the Costco Anywhere Visa® Card by Citi is in my wallet and is my go-to credit card for gas purchases. One major downside is that the card's rewards accumulate and are paid only once a year, but I rather enjoy my annual free Costco run.
Which is best for you?
These are three excellent no annual fee credit cards, but the best choice for you depends on which rewards or perks you find valuable, and whether you are already an Amazon Prime or Costco member. However, these are three fantastic and unique credit cards, and one (or more) could be a great fit for you.
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Our Research Expert
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina, and has been writing about personal finance since 2011.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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