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No Annual Fee Credit Card Basics

What Is A No Annual Fee Credit Card?

An annual fee is a cost that some credit card companies charge their cardholders each year. This fee, sometimes known as an annual membership fee, is intended to offset part or all of the costs incurred by the card issuer in offering the card to consumers. Banks used to charge small annual fees for many of their products, but competition forced them to offer products with no annual fees as a way to attract customers. Due to competition, credit cards with no annual fee quickly became the norm, with the exception of cards for people with bad credit or cards with very generous rewards programs.

No Annual Fee Credit Cards Are Available

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