One thing that annoys me (albeit slightly) about most personal finance experts when they write about credit card deals is their complete and total dislike for cards with annual fees.
As a card aficionado, this is a bit like telling someone who loves coffee and gets their gourmet espresso beans FedExed from Italy every two weeks that you only drink decaf and don’t see what the big deal is anyway.
There are times when an annual fee makes absolute sense: when you’re dealing with a high-end travel or rewards card where your projected sign-up bonus value is a lot higher than the fee. For example, your favourite airline has just released a new rewards credit card with a $50 annual fee, yet you receive bonus air miles after your first purchase that are valued at, let’s say, $250. In this case, I see no reason why the fee should be considered “dangerous” or to be avoided. If you like what the card has to offer, pay for it.
In this respect, credit cards are like any other service.
With that said, I also appreciate the gratifying feeling of getting something for nothing. I love that feeling myself, and for this reason I tend to gravitate toward credit card offers with $0 annual fees.
If you’re in the market ONLY for a no annual fee credit card, and you won’t even consider paying for your plastic, here are a few of my favourite picks this month:
Capital One VentureOne Rewards — This credit card currently offers 0% intro APR on purchases until November 2012, has no annual fee, and no foreign transaction fees. Additionally, you can “earn 10,000 bonus miles, equal to $100 in travel” right now. See more details, compare, and apply online here.
Citi Simplicity Card — Another one of the best no annual fee credit cards out there at the moment, in my opinion. In addition to no annual fee, there are “no late fees and no penalty rate.” Plus, this one currently offers “0% Intro APR on Balance Transfers and Purchases for 21 months.” See more details and easily apply online here.
Citi Hilton HHonors Visa Signature Card — I’m really surprised that this one has no annual fee; high-end hotel rewards cards almost always have an annual fee attached! It’s a great deal, as you’ll earn “40,000 Hilton HHonors Bonus Points after spending $1000 within 4 months of account opening.” Details here.
— provided by Outlaw; compare more credit card deals and promotions in our comparison portal.
Disclosures: We’re a credit card deals comparison site, so obviously we do maintain financial relationships with most major banks and financial institutions, and may have relationships with the issuers mentioned in this post at time of publication.
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