MoneyGeek's Take

Best Cash Back Credit Cards for No Annual Fee in 2023

The top no-annual-fee cash back credit cards give you an easy way to capitalize on your spending by offering high earn rates on category-based spending. Some also come with sizable welcome offers.

Quality Verified

Reviewed By |

This article is part of our larger series on Best Cash Back Credit Cards

Advertising & Editorial Disclosure

Last Updated: 1/22/2023

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

The best cash back credit cards with no annual fee include ones that offer high cash back rates on category-based spending as well as ones that offer higher-than-usual flat rates on all purchases. Depending on the card you get, you may benefit through a spend-based bonus cash back offer for new cardholders.

Some of the top no-annual-fee cash back credit cards come without foreign transaction fees, which makes them ideal for use outside of the U.S. Examples include the Capital One SavorOne Cash Rewards Credit Card and the Costco Anywhere Visa® Card by Citi.

Other aspects that need your attention when making a selection include intro APR offers, regular APRs and additional perks.

OUR REVIEW AT A GLANCE

Our Top 3 Picks
Summarized List of All Winners
Tips for Comparing Credit Cards
Expert Advice & Next Steps

This article is part of our larger series on
Best Cash Back Credit Cards

MoneyGeek's Take: Top 5 Cash Back Credit Cards With No Annual Fee

Quick Summary

You’ll notice that not all no-annual-fee cash back cards offer the same cash back rates, and some come with higher earn rates on specific categories. We have accounted for this as well as other factors such as APRs, welcome offers and foreign transaction fees to arrive at the top five. For more options, scroll further down the page.

Capital One SavorOne Cash Rewards Credit Card
A great no-annual-fee card that comes with rewards
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 3% Cash Back*Rewards Rate
- 3xRewards Rate on Entertainment
- 2xRewards Rate on Groceries
We love the no-annual-fee Capital One SavorOne Cash Rewards Credit Cardbecause it gives you the ability to earn unlimited 3% cash back across different categories and 1% cash back on all others. New cardholders stand to earn a $200 early spend bonus, provided they spend $500 on purchases in the first three months. Being able to redeem your cash back in multiple ways is a definite plus.
An introductory 0% APR offer on purchases and balance transfers for the first 15 months, then a variable APR of 17.99% - 27.99% thereafter may lead to reasonable savings.
Using this card during your international travels is perfect because it comes with no foreign transaction fees.
Cardholders also stand to benefit through complimentary travel accident insurance and travel assistance services.
Pros
No annual fees
Earn 3% cash back on entertainment, dining, popular streaming services and at grocery stores
Earn 1% cash back on all other purchases
Earn 8% cash back when you book tickets through Vivid Seats
Earn a $200 cash bonus if you spend $500 on purchases within the first three months
Earn cash back that does not expire for the life of the card
Redeem cash back in the form of a statement credit or a check
You may also use your cash back rewards through PayPal and Amazon.com
Pay no foreign transaction fees
Get complimentary extended warranty, travel accident insurance, 24-hour travel assistance services and concierge services
Get protection against unauthorized use of your card through $0 fraud liability
Get special access to premier culinary experiences as well as music and sporting events

Cons
The APR that applies on purchases after the first 15 months is based on your creditworthiness
Cash advance fee
Balance transfer fee
$0 annual fee
0% intro APR on purchases and balance transfers for the first 15 months, then 19.24% – 29.24% variable APR after that
3% cash back on dining, entertainment, popular streaming services and at grocery stores
1% cash back on all other purchases
Earn a $200 bonus after spending $500 on purchases in the first three months
Redeem your cash back as a statement credit, as a check or through Amazon.com or PayPal
Credit rating-dependant APR on purchases
No foreign transaction fees
Complimentary travel accident insurance and access to 24-hour travel assistance services
Complimentary 24-hour access to concierge services
Purchases made using card protected by extended warranty
$0 fraud liability to safeguard against fraudulent use
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Costco Anywhere Visa® Card by Citi
One of the best cards available for Costco members who spend a lot on gas
- ExcellentRecommended Credit
- $0Annual Fee
- 1–4% Cash Back*Rewards Rate
- 3xRewards Rate on Dining
- 3xRewards Rate on Air Travel
We recommend the Costco Anywhere Visa® Card by Citi to Costco members who want to earn higher than usual cash back across specific categories. You earn 4% cash back on the first $7,000 you spend toward eligible gas purchases (including gas at Costco), 3% cash back on restaurants and eligible travel purchases, and 2% cash back on all other purchases from Costco and Costco.com.
You pay no annual fee to use this card. It’s ideal for use outside of the U.S. too, as it comes with no foreign transaction fee. Damage and theft protection work as a safeguard for purchases made using this card. Cardholders also get access to Citi Entertainment.
Pros
Generous reward program for gas purchases, travel and restaurant expenses
No foreign transaction fees
No annual fee for Costco members
Purchase protection for all purchases made using this card

Cons
Limited reward redemption options
No welcome bonus
Requires Costco membership
Earn 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
Earn 3% cash back on restaurants and eligible travel purchases
Earn 2% cash back on Costco and Costco.com purchases
Get purchase protection on all your purchases
Get cash back as an annual credit card reward certificate redeemable for cash or merchandise at any U.S. Costco warehouse
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Blue Cash Everyday® Card from American Express
A simple cash back card that’s best for everyday purchases.
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 1–3% Cash Back*Rewards Rate
- 1xRewards Rate on Gas
- 1xRewards Rate on Groceries
We love the Blue Cash Everyday® Card from American Express because it charges no annual fee and lets you earn high cash back across specific categories. You earn 3% cash back on up to $6,000 on grocery purchases at U.S. supermarkets each year. The same also applies on U.S. online retail purchases and gas purchases at U.S. gas stations. You earn 1% cash back on all other purchases.
A welcome offer lets you earn up to $200 back by spending $2,000 on purchases in your first six months to receive $100 as a statement credit. This card also comes with an introductory 0% APR on purchases for the first 15 months, then a variable APR of 18.49% – 29.49% after.
Using this card outside of the U.S. might not a good idea because it charges foreign transaction fees.
Pros
Competitive cash back rates on supermarkets, gas and online retail purchases in the U.S.
No annual fees
Decent welcome bonus
Low intro APR with a long introductory period
Split purchases of more than $100 into monthly payments through the Plan It feature

Cons
Minimum redemption amount is required
Spending cap on cash back earned through bonus categories
Not ideal for travel due to foreign transaction fees
3% cash back on groceries at U.S. supermarkets on up to $6,000 in purchases per year, then 1% cash back
3% cash back on U.S. online retail purchases on up to $6,000 in purchases per year, then 1% cash backk
3% cash back on gas at U.S. gas stations on up to $6,000 in purchases per year, then 1% cash back
1% cash back on all other purchases
0% intro APR for the first 15 months from account opening, then a variable APR of 18.49% – 29.49% after.
Earn up to $200 back by spending $2,000 on purchases in your first six months of account opening. Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply

Summary of the Best Cash Back Cards for No Annual Fee

Take a look at how all the top options fare against each other across parameters such as APRs, welcome offers and cash back rates by using this no-annual-fee cash back card comparison table.

Credit Card
Best For
Avg. Reward Rate
Annual Fee
Credit Needed
Chase Freedom Unlimited®
An excellent no-annual-fee card that lets you earn unlimited cash back
1.5–5% Cash Back
$0
Chase Freedom Flex℠
An easy-to-use cash back card with quarterly rotating bonus categories
1–5% Cash Back*
$0
Capital One SavorOne Cash Rewards Credit Card
A great no-annual-fee card that comes with rewards
3% Cash Back*
$0
Costco Anywhere Visa® Card by Citi
One of the best cards available for Costco members who spend a lot on gas
1–4% Cash Back*
$0
Blue Cash Everyday® Card from American Express
A simple cash back card that’s best for everyday purchases.
1–3% Cash Back*
$0
Citi® Double Cash Card
A great no-annual-fee card that offers up to 2% cash back
2% Cash Back*
$0
American Express Cash Magnet® Card
A great no-annual-fee card that comes with unlimited 1.5% cash back across categories
1.5% Cash Back
$0
Capital One Quicksilver Cash Rewards Credit Card
Best cash back rewards credit card for everyday spending
1.5% Cash Back
$0
Good-Excellent

MONEYGEEK PRO TIP

Adding a no-annual-fee cash back credit card to your wallet offers the ability to earn attractive rewards on everyday purchases. While miles and points are appealing, the flexibility of cash is better for many consumers. -- Lee Huffman, credit card expert at BaldThoughts.com.

How to Compare Cash Back Credit Cards & Intro Offers

There is no single best cash back card with no annual fee because just about every card comes with its distinct features or benefits. This requires comparing your options based on different factors.

Cash back rate

Determine if you might benefit by earning a standard high cash back rate on all purchases or through even higher earn rates on category-based spending. For instance, the Citi® Double Cash Card lets you earn 1% cash back when you make purchases and 1% when you make your payments on time. On the other hand, the Chase Freedom Unlimited Card offers 5% cash back on travel purchases through Chase Ultimate Rewards; 3% cash back on dining at restaurants, including takeout and eligible delivery services, as well as on drugstore purchases; and 1.5% cash back on all other purchases.

Welcome offers

Some of the top no-annual-fee cash back credit cards come with spend-based welcome offers. For example, the Capital One SavorOne Cash Rewards Credit Card offers a one-time $200 early spend bonus if you spend at least $500 on purchases in the first three months. Similarly, the Blue Cash Everyday® Card from American Express has a welcome offer through which you may earn $200 back as a statement credit if you spend $2,000 on purchases within the first six months.

APRs

Bear in mind that the top cards from this segment come with varied APRs. Pay particular attention to your card's interest rate if you plan to maintain revolving balances on your card from one billing cycle to the next. Some of these cards come with time-based 0% APR offers on purchases and/or balance transfers as well.

Foreign transaction fees

If you get a cash back card that charges foreign transaction fees, expect to pay up to 3% extra every time you use your card outside of the U.S. Some of the cards from this segment that eliminate this fee include the Capital One SavorOne Cash Rewards Credit Card, the Costco Anywhere Visa® Card by Citi and the Capital One Quicksilver Cash Rewards Credit Card.

Added benefits

Despite the fact that these cash back cards come with no annual fees, you can still expect basic card-specific benefits such as $0 fraud liability, purchase protection, extended warranty and basic travel insurance coverage.

Expert Advice For Finding the Right Card

Financial experts from across the U.S. have vetted our no-annual-fee cash back credit card reviews and provided answers to a few important questions with the aim of further simplifying your decision-making process.

What are the common bonus categories that come with cash back cards?
How does the expiration of cash back work with different cards?

Dr. Stephen Brincks

Professor of Finance at San Diego State University