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Chase Freedom Unlimited®
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Why We Like It:The best free credit card is the Chase Freedom Unlimited® because it’s free to use ($0 annual fee) and it has a low intro APR for a long period of time (0% for 15 months). Plus, you’ll earn great rewards. Cardholders get 5% cash back on travel through Chase, 3% back at restaurants and drugstores, and 1.5% back on all other purchases (plus an additional 1.5% cash back on everything, up to $20,000 spent the first year).
What We Don’t Like: This card does have a foreign transaction fee and a balance transfer fee, so you may want to consider other options if you’re likely to trigger those charges. In addition, you should not carry a balance from month to month once the intro APR expires if you want to avoid interest charges.
Who Should Get It: Apply for Chase Freedom Unlimited if you have a 700+ credit score and you want a great all-around credit card.
Alternatives to Consider: The Wells Fargo Active Cash® Card also offers rewards at a high rate with no annual fee and low-interest promotions.
Wells Fargo Reflect® Card
Why We Like It: The Wells Fargo Reflect® Card has the potential to be free for quite a long time, thanks to its $0 annual fee and introductory APR of 0% for 21 months from account opening. That combination can save you a lot of money on finance charges.
What We Don’t Like: This card has a balance transfer fee and the potential for a high regular APR. You also won’t earn rewards.
Who Should Get It: Consider applying for Wells Fargo Reflect if you have good credit and want to avoid interest charges for a long time.
Alternatives to Consider: If you have excellent credit, you should consider the BankAmericard® credit card, too.
Wells Fargo Active Cash® Card
Why We Like It: The Wells Fargo Active Cash® Card is the best free credit card with straightforward rewards. It has a $0 annual fee and a 3% foreign transaction fee. It offers an introductory APR of 0% for 15 months from account opening on purchases and qualifying balance transfers. And it rewards cardholders with 2% cash rewards on all purchases. Plus, you can get an extra $200 cash rewards after spending $500 in the first 3 months.
What We Don’t Like: This card has a balance transfer fee and a fairly high regular interest rate.
Who Should Get It: Apply for Wells Fargo Active Cash if you have good credit or better and don’t want to wonder how much you’ll earn in rewards on any given purchase. It’s best if you can comfortably qualify for the card’s initial bonus, too.
Alternatives to Consider: The Citi Double Cash Card has very similar rewards.
Capital One Platinum Credit Card
Why We Like It: TheCapital One Platinum Credit Card (see Rates & Fees) is the best free credit card for building credit. It has a $0 annual fee, does not require a security deposit, and doesn’t add foreign transaction fees to purchases processed abroad.
What We Don’t Like: The downside is the card has no rewards, but free credit improvement is worth more when you’re just starting out. You just need to make sure you pay the bill on time every month and avoid maxing out your spending limit, and you should see solid credit score gains.
Who Should Get It: Apply for Capital One Platinum if you’re a newcomer who wants to build credit for free.
Alternatives to Consider: The Petal® 2 Visa® Credit Card is another free starter credit card worth looking into.
Bank of America® Unlimited Cash Rewards credit card for Students
Why We Like It:The Bank of America® Unlimited Cash Rewards credit card for Students is one of the best free credit cards for students. It has a $0 annual fee, an introductory APR of 0% for 15 billing cycles, and valuable rewards. In addition to an initial bonus of $200 after spending $1,000 in the first 90 days, cardholders earn 1.5% cash back on all purchases.
That package is better than what most credit cards offer, let alone cards for students.
What We Don’t Like:You will need to choose another option if you study abroad because the Bank of America® Unlimited Cash Rewards credit card for Students charges a foreign transaction fee.The card’s regular APR can also be pretty high, at 18.24% - 28.24% Variable.
Who Should Get It: Consider applying for the Bank of America® Unlimited Cash Rewards credit card for Students if you’re a student with excellent credit who isn’t planning any international travel.
Alternatives to Consider: Compare WalletHub’s picks for the best student credit cards, all of which are free to own.
Capital One VentureOne Rewards Credit Card
Why We Like It: TheCapital One VentureOne Rewards Credit Card (see Rates & Fees) is one of the best free credit cards for travel rewards. It has a $0 annual fee, an introductory APR of 0% for 15 months, an initial bonus of 20,000 miles for spending $500 in the first 3 months, and competitive ongoing rewards. Cardholders earn 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel, and 1.25 miles per $1 on all other purchases.
Plus, you can redeem your rewards for pretty much any travel expense.
What We Don’t Like: This card has a balance transfer fee and the potential for a high regular APR.
Who Should Get It: Consider applying for Capital One VentureOne if you have good credit and want to travel in the future but are either an infrequent traveler or a light spender.
Alternatives to Consider: You could get better rewards, for a fee, from the Capital One Venture Rewards Credit Card.
As an expert in credit cards and personal finance, I have extensive knowledge of the concepts and features discussed in this article. I can provide you with information related to each concept mentioned. Let's dive into it!
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a popular credit card known for its benefits and rewards. It offers several advantages, including:
- No Annual Fee: The card does not charge an annual fee, making it a cost-effective option for cardholders.
- Introductory APR: The Chase Freedom Unlimited® offers a low introductory APR of 0% for 15 months. This means you won't be charged interest on purchases and balance transfers during this period.
- Cash Back Rewards: Cardholders can earn cash back on their purchases. They receive 5% cash back on travel through Chase, 3% back at restaurants and drugstores, and 1.5% back on all other purchases. Additionally, there is an opportunity to earn an additional 1.5% cash back on everything, up to $20,000 spent in the first year.
However, there are a few things to consider:
- Foreign Transaction Fee: The Chase Freedom Unlimited® charges a foreign transaction fee, so if you frequently travel abroad, you may want to explore other options.
- Balance Transfer Fee: If you plan to transfer balances from other credit cards, keep in mind that the Chase Freedom Unlimited® has a balance transfer fee.
- Intro APR Expiration: After the introductory APR period ends, the regular APR will apply. To avoid interest charges, it's advisable not to carry a balance from month to month.
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card is another credit card mentioned in the article. Here are the key details:
- No Annual Fee: The Wells Fargo Reflect® Card does not charge an annual fee, making it a cost-effective choice.
- Introductory APR: This card offers an introductory APR of 0% for 21 months from account opening. This can be beneficial for saving money on finance charges.
- No Rewards: Unlike some other cards, the Wells Fargo Reflect® Card does not offer rewards for purchases.
Consider the following factors:
- Balance Transfer Fee: The card has a balance transfer fee, so if you plan to transfer balances, take this into account.
- Regular APR: After the introductory APR period, the regular APR will apply. Make sure to review the terms and conditions to understand the potential interest charges.
Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card is another credit card mentioned in the article. Here's what you need to know:
- No Annual Fee: The Wells Fargo Active Cash® Card does not have an annual fee, making it a cost-effective option.
- Introductory APR: It offers an introductory APR of 0% for 15 months from account opening on purchases and qualifying balance transfers.
- Cash Rewards: Cardholders earn 2% cash rewards on all purchases. Additionally, there is an opportunity to earn an extra $200 cash rewards after spending $500 in the first 3 months.
Consider the following factors:
- Balance Transfer Fee: The Wells Fargo Active Cash® Card has a balance transfer fee, so keep that in mind if you plan to transfer balances.
- Foreign Transaction Fee: This card charges a 3% foreign transaction fee, so if you frequently travel internationally, you may want to explore other options.
Capital One Platinum Credit Card
The Capital One Platinum Credit Card is a credit card specifically designed for building credit. Here are the key details:
- No Annual Fee: The Capital One Platinum Credit Card does not charge an annual fee, making it a suitable choice for individuals looking to build credit.
- Credit Building: This card is designed to help individuals establish or improve their credit history. By making timely payments and keeping balances low, cardholders can see positive impacts on their credit score.
Consider the following factors:
- No Rewards: The Capital One Platinum Credit Card does not offer rewards for purchases. However, the focus of this card is on credit building rather than rewards.
- Responsible Credit Usage: To maximize the benefits of this card, it's important to make payments on time and avoid maxing out your spending limit.
Bank of America® Unlimited Cash Rewards credit card for Students
The Bank of America® Unlimited Cash Rewards credit card for Students is designed specifically for students. Here's what you need to know:
- No Annual Fee: The Bank of America® Unlimited Cash Rewards credit card for Students does not charge an annual fee, making it a suitable choice for students.
- Introductory APR: It offers an introductory APR of 0% for 15 billing cycles, which can be beneficial for students managing their expenses.
- Cash Back Rewards: Cardholders earn 1.5% cash back on all purchases. Additionally, there is an initial bonus of $200 after spending $1,000 in the first 90 days.
Consider the following factors:
- Foreign Transaction Fee: The Bank of America® Unlimited Cash Rewards credit card for Students charges a foreign transaction fee, so if you plan to study abroad, you may want to explore other options.
- Regular APR: The regular APR for this card can be relatively high, ranging from 18.24% to 28.24% Variable. Make sure to review the terms and conditions to understand the potential interest charges.
Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards Credit Card is a travel rewards credit card. Here's what you need to know:
- No Annual Fee: The Capital One VentureOne Rewards Credit Card does not charge an annual fee, making it a cost-effective option for travel rewards.
- Introductory APR: It offers an introductory APR of 0% for 15 months, which can be beneficial for managing travel expenses.
- Travel Rewards: Cardholders earn 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel, and 1.25 miles per $1 on all other purchases. Rewards can be redeemed for various travel expenses.
Consider the following factors:
- Balance Transfer Fee: The Capital One VentureOne Rewards Credit Card has a balance transfer fee, so if you plan to transfer balances, take this into account.
- Regular APR: After the introductory APR period, the regular APR will apply. Make sure to review the terms and conditions to understand the potential interest charges.
I hope this information helps you understand the concepts and features mentioned in the article. If you have any further questions or need more details, feel free to ask!
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