Trying to keep up with all of your credit card payments can be a challenging endeavor. A big part of this reason is the annual fees that come a long with the different credit cards.
If you don’t want to get bogged down by endless amounts of random small fees, then you should definitely consider opting out of an annual fee credit card. Here are the Advantages & Benefits of a no annual fee credit card.
Why Not Go With the Annual Fee?
Like everything else in life, you have to weight the costs and benefits of different credit cards. Many of the annual fee cards come with a lot of exclusive benefits and perks, but when weighing them against the yearly cost it may turn out to not be worth it. For example, if you live in a city and rely on mass transit, then a card that gives you perks for purchasing gas probably won’t be cost effective.
It’s also worth to note that sometimes redeeming your rewards can be a hard task. If you have to go through a ton of calls with customer service agents and deep dives on websites to find redemption instructions, it might not be worth the hassle.
Less to Budget For
This is a pretty obvious one. These credit card fees can often sneak up on you. Unlike student loan debt, rent, etc. this fee only comes once a year, meaning it can easily take you by surprise. With less things to worry about in your budget, you can free up your mind and your cash to spend more on other products and services that are more important to you.
No fee credit cards can be your best friend. Instead of worrying about your next credit card payment, you can instead free up your cash to spend on products and services that are more important to you. Use our guide above to figure out if no annual fee credit cards are right for you.
Interested in a variety of credit cards? Check out our list of the latest Credit Card Promotions!
|HSBC Premier checking account: Get up to $600 when you open a Premier checking account. You'll enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening. Member FDIC Terms|
|HSBC Premier checking account: Earn $450 bonus for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities. Make recurring monthly Direct Deposits totaling at least $5,000. Member FDIC Terms|
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