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Home Business Finance Best No Annual Fee Credit Card
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The notion that you need to pay an annual fee to hold a credit card worth having is simply untrue. Many premier credit cards from big-name companies come loaded with perks and rewards. However, they also usually come with a cost. It’s not unheard of to pay $300, $400, or even $500 a year to possess those cards. While the perks and rewards are nice, it makes you question if they’re really worth it.
If you are a small business that doesn’t spend enough on a credit card to make a hefty annual fee worth it, it’s ok. Not only is it ok but there are cards with no annual fee that are so good, they could actually be preferred for your business.
While it’s true that some no annual fee cards won’t be worth your time, plenty are. To save you time, we have analyzed these cards and will give you our suggestion for the best no annual fee credit card.
Cards like Bank of America’s Platinum Plus Mastercard Business Credit Card have a shockingly low variable APR of 11.74%–22.74% but don’t have a way to earn rewards. Cards like the Citi Double Cash Card offer 2% cash back on purchases you buy and pay back, but the variable APR is quite high.
The winner of the best no annual fee credit card goes to a well-balanced card that incorporates both a way to earn rewards and a beneficial variable APR. The winner of Lendio’s best no annual fee credit card goes to American Express’s The Blue Business Plus Credit Card. Here’s why:
The Blue Business Plus Credit Card is a solid credit choice. It has all the benefits of a premier card without the annual fee. By owning a credit card without an annual fee, it allows you to use the money you would’ve spent on having the card to invest in improving your business. Why pay to own a credit card when you can have one that’s just as good—for free?
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