Credit Card Rewards
Credit cards allow you to borrow money up to a pre-set limit for your purchases or balance transfers. Card issuers will charge interest if you do not pay off your full statement balance by the payment deadline. You will be charged for late fees if you miss payment due dates. The convenience of using credit cards as a payment option comes with the potential cost of fees and interest. But if you use credit cards properly, you can save money in many ways.
If you have good credit and are looking for a credit card with no annual fee, you can qualify for many cash back or travel credit cards that let you earn rewards on everyday purchases.
Several credit cards offer bonuses to people who eat out a lot, thanks to bonus points on restaurant spending. Which cards offer the most generous rewards dining purchases? Quite a few credit cards offer a lot of bonus and rewards while charging no annual fee. If you want more rewards and bonus on dining, or just want straightforward cash rewards, there is a card for you.
Bank of America Preferred Rewards is a loyalty rewards program that gives additional rewards of up to 75% for Bank of America customers whose combined balances of qualifying Bank of America and/or Merrill accounts are $20,000 or more. There are four rewards tiers: Gold, Platinum, Platinum Honors, and Diamond, which gives you extra rewards of 25%, 50%, and 75%. Maintaining a retirement account such as IRA with Merrill is one of the best ways to qualify for the Preferred Rewards program. With Preferred Rewards, Bank of America customers may earn up to 5.25% in cash rewards on cash back credit cards, and 3.5 points per dollar on travel credit cards.
If you are a Wells Fargo consumer credit card customer, you can enjoy complimentary Cellular Telephone Protection provided by Wells Fargo, which reimburses you for damage to or theft of your cell phone. Just use your Wells Fargo consumer credit card to pay your monthly cell phone bill, and you will get up to $600 of protection, subject to $25 deductible, against covered damage or theft.
Many cash back credit cards offer rewards based on specific spending categories, and some even feature rotating categories that change every quarter. On the other hand, flat-rate cash back credit cards, which offer a consistent cash back percentage on all purchases, provide simplicity and predictability without the need to monitor or activate specific categories. Several cash back credit cards offer a fixed rewards structure, providing a straight 2% cash back on all purchases.
Personal credit cards with no annual fee can be advantageous for a number of reasons. It saves cost because you won’t incur a yearly charge for simply having the card. No-annual-fee credit cards are often more accessible to a broader range of consumers. They typically come with straightforward terms. And they usually offer cash back rewards, sign-up bonuses, or 0% introductory APR. They can be excellent backup or secondary credit cards for occasional use.
Credit cards with no annual fee give responsible users a payment tool at no cost. At the same time, they allow people to accumulate cash back, earn points, receive bonus, or even receive perks such as free flights or hotel stays. Check out some of the best no annual fee credit cards for consumers and small businesses.
Citi Premier offers a rich bonus of 80,000 points, which can be redeemed for $800 in cash rewards. It also offers 3% rewards on purchases in groceries, travel, dining, and gas. You will also receive an annual hotel credit of $100 for a hotel stay of $500 or more. It has no foreign transaction fees.
Wells Fargo Autograph Card offers a rich bonus of 20,000 points, which can be redeemed for $200 in cash rewards or gift cards. It also offers unlimited 3% rewards for every dollar you spend on dining, travel, gas stations, transit, streaming services, and phone plans. For all other purchases, you will earn 1% rewards. This credit card has no foreign transaction fees, which saves you money when you travel abroad.