The Best Cash Back Credit Cards With No Fees

Get Cash Back The Best Cash Back Credit Cards With No Fees

The Best Cash Back Credit Cards With No Fees

Are you in the market for a new credit card, but one without a high-interest rate or annual fees? You may have several or even dozens of choices depending on your credit score. And given that, if you carry a balance, you'll be paying enough in interest rate to your credit card company, you might as well get one with no annual fee. You should also get one that provides you with cashback for some or all of your purchases. Cashback can minimize the expense credit cards bring.

But which card should you get, and how do you know if you're getting the best deal? Looking online will get you inundated with offers and solicitations, and by the time you identify a good offer, interest rates, your credit score, or the offer may have changed. But fortunately, there's an easier way to find the best no-fee credit card option that offers cashback for you.

How Does One Qualify for a No-Fee Credit Card?

Consumers with poor or fair credit usually find the only credit cards available to them are those with high annual fees (and high-interest rates). The higher your credit score, the more likely you will be approved for credit cards with more favorable terms.

To improve your score, follow these tips:

  1. Keep your balance low or pay it off every month.
  2. Develop a history of making on-time payments over time.
  3. Establish a diverse set of credit card accounts, such as auto loans, credit card accounts, and mortgages. Just be careful not to open too many credit accounts at once, or your score will drop.
  4. Check your credit history periodically and dispute any errors you find in them.

When you have a credit score above 700, you're likely to be approved for credit cards with no annual fee. Be careful to ensure you're not also being charged an exorbitant interest rate as well. But with a good credit score, you'll have your pick of some favorable credit card options that come with no annual fee and offer cashback.

You should also note that some companies with generous incentive programs also charge higher interest rates or fees for routine credit card transactions. So, read the fine print before submitting your application.

Do Credit Cards That Offer Cash Back Charge Higher Interest?

Many credit card companies have established cashback rewards programs to entice and attract customers. But there's no bait and switch. These companies don't offer cashback simply to take that money back in the form of interest. Instead, credit card companies share some of the merchant fees they receive from stores that accept their cards with customers.

Cashback rewards also typically aren't unlimited or offered for every purchase. Each card's program has its own terms, with different programs providing cashback for purchases made by certain retailers or industries.

The credit card companies have made sure these programs don't cut into their profits too much. But with a bit of forethought, you can spend less on your purchases and monthly payments when getting cashback using the right card.

Are Cashback Rewards and Cash Advances the Same Thing?

Don't confuse cashback rewards with cash advances, as the two are totally separate things.

  1. A cash back rewards program gives you some percentage of your purchase if it meets certain conditions.
  2. A cash advance is a number of funds under your credit limit your credit card company provides you in cash in exchange for a fee. Assuming you don't pay the balance in full, you may also pay a higher interest rate on the cash advance.

Avoid cash advances if you can. They can result in much higher credit card expenses and make it take longer to pay down a substantial balance. If you must take one, check the terms and conditions of your credit card closely to avoid inadvertently paying more than you need to.

What Are Some No-Fee Credit Cards I Can Get Cash Back From?

With a decent credit score, you have quite a few options when searching for a no-fee cash back rewards credit card. Below are a few of the best and most popular choices:

Bank of America Customized Cash Rewards Credit Card
  • 3% cash back in your choice of category
  • 2% cash back at groceries and wholesale clubs up to $2,500 spent each quarter
  • 1% on all other purchases
Capital One Quicksilver Cash Rewards Credit Card
  • $200 cash back if you spend $500 within the first three months
  • 1.5% cash back on all purchases
Capital One SavorOne Cash Rewards Credit Card
  • $200 cash back if you spend $500 within the first three months
  • 8% cash back on Vivid Seats purchases through 2023
  • 3% cash back on select categories
  • 1% cash back on all purchases
Citi Custom Cash Card
  • $200 cash back when you spend $750 within the first three months
  • 5% cash back on all purchases in the category you spend the most on up to the first $500 spent
  • 1% cash back on all purchases
 Discover it Cash Back
  • 5% cash back on different categories each quarter
  • 1% cash back on all other purchases
  • Matching cashback from Discover after year one
 Wells Fargo Active Cash Card
  • $200 cashback if you spend $1,000 in the first three months
  • 2% cashback on purchases

How Do I Get a No-Fee Cashback Credit Card?

Beyond these options, there are dozens of more from leading companies like:

It's tough to know which one is right for you. There's a lot of fine print, and the terms aren't always clear. You also may not know what your credit score is. By law, you can get a free copy of your credit report once a year, but it may have been some time since you've last seen yours.

Also, there are three separate credit bureaus:

  1. Equifax
  2. Experian
  3. Transunion

You can only get a free credit report from one of those bureaus annually. But since there are three, you may not know which one the credit card company is using to vet your application.

The last thing you want to do is apply for every single no-fee cashback credit card you see online. Doing so will lower your score and your chances of getting approved for any credit card at all. You need a quick and easy way to determine and compare which offers are available that suit you.

Don't worry, DoNotPay can help. Simply:

  1. Search for Cash Back on the DoNotPay website. 
  2. Kick off the process to find the right app or website for you. 
  3. Answer some specific questions so that we can help you start making money! 

That's it. You'll be able to see the offers that are right for you and choose the best one.

What Else Can DoNotPay Do for You?

From helping you access the best cashback apps to helping you get cashback from leading ones like Apple Pay and PayPal, DoNotPay has got you covered. DoNotPay can also help you with::

But if you're simply looking for an easy way to find the best no-fee credit card that gives you cash back for your purchases, all you have to do is use DoNotPay. Take the first step towards getting cashback by signing up today!

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