The Points Guy: This Is The Best No-Fee Credit Card


So for starters, if you’re
dead set on a no annual fee card, I
would recommend the Chase Freedom Unlimited. It offers 1.5 points on everything you
spend, so you don’t have to worry about
all these categories and that’s a decent earn. But here’s the trick:
when you see the light down the road of
getting a card with an annual fee, if
you have Chase Freedom Unlimited points and then later
on you get a Sapphire, you’ll be able
to transfer those cash back points into
your Sapphire points, which can then transfer
out to airlines and you can get a
ton of value. It’s good to build
a relationship with the big banks and then
later on have those points that you can then
upgrade to the more valuable points program
within that same bank. When it comes to no
fee cards, I know they’re easy to get, but there’s
a saying, “Cheap is expensive.” And what I mean
by that is the no annual fee cards
generally offer less perks and less
valuable earning. So sometimes you have to
look at your spend and how much you’re going
to spend in a year and look at the annual
fee and see if you’re gonna get value
from those perks. And there’s no easy way
to do it, but look at the card and
there’s a lot of unadvertised perks that can
save you tons of money. So whether that’s
saving money on checked bags, free in-flight
Wi-Fi and also purchase protection, use a
card that offers purchase protection. I bought a expensive winter
coat and lost it in Iceland. Long story, it was
an accident, but AMEX, because I used an
AMEX platinum card, immediately took the
two thousand dollars right off of
my statement. Sometimes it may make sense
to use cards for big purchases that
offer purchase protection over earning a couple
extra points per dollar. So it takes a
little bit of time to look at what your goals
are and what you’re going to spend money on
and make sure you’re aligning it to cards that
offer you the most value back. I’m not saying that cards
with no annual fee are bad. I’m just saying they may
not be the most lucrative in the
long term.

12 thoughts on “The Points Guy: This Is The Best No-Fee Credit Card

  • Lol I have a savings and a checking account with chase for almost ten years and those fuckers won't give me a credit card.

  • Not sure this really answers the question because the goal here seems to be to move you on to a card that does have an annual fee. Chase Freedom Unlimited did just change their first-year reward to 3% cash back on everything you buy. After first year it goes down to 1.5% again. So 1st year is good, after 1st year go for Citi Double Cash or PayPal Cashback Mastercard or Fidelity Visa if you want 2% flat cash back.

  • WTF? Citi Double Cash?:

    – 2% > 1.5%
    – Purchase protection up $10,000 per claim
    – Extended warranties and rewind
    – Presale Tickets
    – Travel Accident Insurance, trip cancellation insurance, and auto rental insurance
    smh

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