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Citi is no longer accepting applications for the Citi Custom Cash® Card product as of May 28, 2026.
Cash-back credit cards can be a great way to make money off your normal spending, but if you don't want to pay an annual fee to reap rewards, there are plenty of options without a yearly charge.
Below are our top picks for cash-back credit cards with no annual fee. It's no wonder these cards are popular choices as you can potentially earn hundreds of dollars in cash back by simply using one of these cards for your everyday purchases.
Best no annual fee cash-back credit cards of 2026
- Best for intro APR: Wells Fargo Active Cash® Card
- Best for flexible bonus categories: Citi Custom Cash® Card
- Best for everyday spending: Citi Double Cash® Card
- Best for welcome bonus: Chase Freedom Unlimited® (see rates and fees)
- Best for groceries: Blue Cash Everyday® Card from American Express
- Best for dining: Capital One Savor Cash Rewards Credit Card
- Best for rotating bonus categories: Chase Freedom Flex®
- Best credit union: PenFed Power Cash Rewards Visa Signature® Card
- Best for students: Capital One Savor Student Cash Rewards Credit Card
Best for 0% APR
The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual fee.
- High flat-rate return on purchases
- Intro-APR for purchases and qualifying balance transfers for a year
- No annual fee
- Cell phone protection
- Has a foreign transaction fee
- Limited redemption options unless you pair it with a Wells Fargo card that allows point transfers
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 18.49%, 24.49%, or 28.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don't expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Balance Transfer Fee
3% intro for 120 days from account opening, then up to 5%, min: $5
Foreign Transaction Fee
3%
Who's this for? The Wells Fargo Active Cash® Card is ideal for those who want to earn cash rewards, but might need more time to pay off their credit card balance. You can take advantage of a generous intro APR for purchases and qualifying balance transfers.
This card earns 2% cash rewards on purchases. Plus, if you pay your monthly cell phone bill with this card, you can qualify for cell phone protection. This coverage has a $25 deductible and covers up to $600 per claim, with a maximum of two claims per year.
Best for flexible bonus categories
The Citi Custom Cash® Card is an especially simple and rewarding cash-back card because you'll automatically earn bonus rewards where you spend the most.
Rewards
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter.
- Earn unlimited 1% cash back on all other purchases.
- Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026.
Balance transfer fee
5% of each balance transfer ($5 minimum)
Foreign transaction fee
3%
Who's this for? The Citi Custom Cash® Card is ideal if your spending habits change from month to month but you still want to maximize your rewards. You'll automatically earn 5% cash back (in the form of ThankYou® Points) on up to the first $500 spent for your top eligible spending category each billing cycle (then 1%).
Unlike some other 5% cash-back cards, you don't need to go through the hassle of activating any bonus categories with the Citi Custom Cash. There are 10 eligible spending categories for the bonus, including restaurants, gas stations, select streaming services and others.
Pro tip: Although billed as a cash-back card, you'll be able to transfer your Citi ThankYou® Rewards to any of Citi's airline and hotel partners.
Best for everyday spending
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- No annual fee
- Travelers face a foreign transaction fee
- Intro APR only applies to balance tranfer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
Who's this for? Those who want to earn cash back without fuss should consider the Citi Double Cash® Card.
You can earn 2% cash back on all purchases: 1% when you make a purchase and an additional 1% when you pay your credit card bill. While the earnings rate may be lower than other cards' bonus categories, it's consistent, and you don't have to worry about what category you're spending in. You can redeem the cash back for statement credits or a check and since you earn the cash back as Citi ThankYou® points, you can also transfer your rewards to all of Citi's travel partners.
Best for welcome bonus
The Chase Freedom Unlimited® is a no-annual-fee card that earns generous cash-back on everyday purchases and a lucrative welcome bonus.
- Users get a high rewards rate and strong welcome bonus
- Purchases and balance transfers get long intro APR
- No annual fee
- Travelers face a foreign transaction fee
- Few rewarding ongoing benefits
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can use points to redeem for cash through an account statement credit or an electronic deposit into an eligible Chase account located in the United States!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, in the first 60 days. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
Who's this for? Consumers who want a robust rewards card with no annual fee should consider the Chase Freedom Unlimited®. It offers a welcome offer: earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
In addition to earning 1.5% cash back on all your purchases, you'll also earn an elevated 3% back at drugstores and 3% back on dining at restaurants, including takeout and eligible delivery services. The card earns Ultimate Rewards points, which can be paired with a premium Chase card down the line for even better redemption options.
Best for groceries
The Blue Cash Everyday® Card from American Express has no annual fee and you may be eligible for bonus rewards on a wide range of common expenditures.
- Up to $264 in streaming service and meal kit credits every year (subject to auto renewal)
- High cash-back rates in popular spending categories
- No annual fee
- The best bonus cash-back categories are capped
- Has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply and find out your welcome offer. As High As $200 cash back* after you spend $2,000 in purchases on your new Card within the first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply, and if approved: 1. Find out your offer amount 2. Accept the Card with your offer 3. Spend $2,000 in 6 months 4. Receive the cash back. *Cash back is received in the form of Reward Dollars that can be redeemed for a statement credit or at Amazon.com checkout.
- No Annual Fee.
- Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, your APR will be a variable APR of 19.49%-28.49%.
- Plan It®: Buy now, pay later with Plan It. Split purchases of $100 or more into equal monthly installments with a fixed fee so you don't have the pressure of paying all at once. Simply select the purchase in your online account or the American Express® App to see your plan options. Plus, you'll still earn rewards on purchases the way you usually do.
- Earn 3% cash back at U.S. supermarkets, 3% cash back on U.S. online retail purchases, 3% cash back at U.S. gas stations, on eligible purchases for each category on up to $6,000 per year in purchases (then 1%). Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
- Get up to a $7 monthly statement credit after using your enrolled Blue Cash Everyday® Card for a subscription purchase, including a bundle subscription purchase, at DisneyPlus.com, Hulu.com, or Stream.ESPN.com U.S. websites. Subject to auto-renewal.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Foreign transaction fee
2.7% of each transaction after conversion to US dollars
Who's this for? The Blue Cash Everyday® Card from American Express is a competitive no-annual-fee card for grocery shoppers (see rates and fees). You earn 3% cash back* at U.S. supermarkets (on up to $6,000 per year in eligible purchases, then 1%).
You can also earn 3% cash back* at U.S. gas stations, (on up to $6,000 in eligible purchases per year, then 1%), and a standard 1% cash back* on all other eligible purchases.
This card is also a good alternative to its counterpart, the Blue Cash Preferred® Card from American Express, which offers 6% cash back* at U.S. supermarkets on up to $6,000 per year in eligible purchases (then 1%) — but with a $0 intro annual fee for the first year, then $95 (see rates and fees).
Best for dining
The Capital One Savor Cash Rewards Credit Card is one of the most rewarding options for earning cash back in categories such as entertainment and dining without paying an annual fee.
- One of the most rewarding cash back cards for entertainment and streaming services
- No annual fee
- Easy-to-earn welcome bonus
- High APR
- Requires a good to excellent credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
- $0 annual fee and no foreign transaction fees
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
- Earn 8% cash back on Capital One Entertainment purchases
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases and balance transfers for 12 months; 18.74% - 28.74% variable APR after that; balance transfer fee applies
- Top rated mobile app
Balance transfer fee
Introductory fee of 3% of the amount of each transferred balance that posts to your account during the first 12 months that your account is open. After that, 4% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you at any other time.
Who's this for? Foodies and entertainment junkies can maximize rewards with the Capital One Savor Cash Rewards Credit Card, which provides one of the highest cash-back rates on dining and entertainment purchases at 3%.
Plus, earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.
The Savor Cash Rewards Card also offers a slew of other perks, such as access to exclusive entertainment events (concerts, food experiences, sporting events) and no foreign transaction fees.
Best for rotating bonus categories
The Chase Freedom Flex® is an excellent cash-back card for maximizing your spending in a variety of categories.
- Long intro APR for purchases and balance transfers
- Rewarding quarterly bonus categories
- No annual fee
- Bonus categories are capped each quarter
- Has a foreign transaction fee
Rewards
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%)
- 5% cash back on travel booked through Chase Travel℠
- 3% on drugstore purchases and on dining (including takeout and eligible delivery services)
- 1% cash back on all other purchases
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3%
Who's this for? If you're looking to maximize rewards, consider a rotating bonus category card like the Chase Freedom Flex® (activation required). Check out the full Chase Freedom cash-back calendar.
In addition to rotating rewards, you can earn 5% cash back on travel booked through the Chase TravelSM portal, 3% cash back on dining at restaurants and at drug stores and 1% cash back on all other purchases. You can also benefit from World Elite Mastercard benefits, such as cell phone protection and eligible public transport credits.
Best credit union
PenFed Power Cash Rewards Visa Signature® Card
Rewards
1.5% cash back on all purchases, 2% cash back on all purchases for PenFed Honors Advantage members
Welcome bonus
$100 statement credit when you spend $1,500 in the first 90 days of account opening
Annual fee
$0
Intro APR
0% introductory APR for 12 months on balance transfers made in the first 60 days after account opening.*
Regular APR
17.99% variable on purchases; 17.99% non-variable on balance transfers
Balance transfer fee
3%
Foreign transaction fee
None
Credit needed
Good/Excellent
Terms apply.
Pros
- 2% cash back on all purchases for PenFed Honors Advantage members
- Welcome bonus, which is hard to find among flat-rate cash-back cards with no annual fee
- No bonus category activations or limits to the amount of cash back you can earn
Cons
- 3% balance transfer fee
- Credit union membership is required
* 0% introductory APR for 12 months on balance transfers made in the first 60 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
Who's this for? The PenFed Power Cash Rewards Visa Signature® Card is a solid card for someone interested in being a part of a credit union. With this card, you can earn a $100 bonus after you spend $1,500 in the first 90 days from account opening. Cardholders get 1.5% cash back on all purchases, but that increases to 2% cash back on every purchase if you're a PenFed Honors Advantage member (which requires a qualifying checking account or military affiliation).
Anyone can join the PenFed Credit Union by applying, opening a savings account with a $5 deposit and maintaining a $5 account balance. You can redeem cash back for statement credits, deposit it into your PenFed account or transfer it to another financial institution.
Best for Students
The Capital One Savor Student Cash Rewards Credit Card is a card designed for students with rewards rates that match many of the top cash-back credit cards.
- High cash-back rates for common student expenses, such as groceries, dining and entertainment
- No annual fee
- No foreign transaction fees
- High APR
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
- Early Spend Bonus: Earn $50 when you spend $100 in the first three months
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Enjoy no annual fee, foreign transaction fees, or hidden fees
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- Earn up to $500 a year by referring friends and family when they're approved for a Capital One credit card
- Earn 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal
- Build your credit with responsible card use
- Whether you're at a 4-year university, community college or other higher education institution, this card might be an option for you
- Top rated mobile app
Balance transfer fee
4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Who's this for? The Capital One Savor Student Cash Rewards Credit Card is a student credit card that also earns rewards. You'll earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores. That rate of return compares favorably with the top credit cards for those categories, which makes this an excellent card for college students who want to build credit history and earn rewards at the same time.
This is also a low-cost card to keep because it has no annual fee and doesn't have any foreign transaction fees.
FAQs
What does no annual fee mean?
No annual fee means that you will not be charged a fee every year you renew a credit card account. Many high-end rewards credit cards charge annual fees, which you'll pay every year you keep the account open.
When is a credit card annual fee worth it?
An annual fee is worth it when you're able to extract more value from the card than you pay for the annual fee. For example, if you earn $500 per year in cash back from a card with a $95 annual fee, then it'll be worth it to pay the annual fee since you're coming out $405 ahead.
Why do some credit cards have an annual fee?
Credit cards with annual fees typically earn more rewards and have better benefits, like travel credits and airport lounge access, than those with no annual fee. This fee is charged so credit card issuers can offset the cost of the rewards issued.
Can you get a no annual fee credit card with bad credit?
Yes, there are many credit cards available for those with sub-par credit that have no annual fee.
Are no-fee credit cards worth it?
It depends; just because a credit card has no annual fee doesn't mean it's not worth it. Certain no-fee credit cards can offer great value. It comes down to how you intended to use it.
What are the disadvantages of cash-back credit cards?
While cash-back credit cards are easy to use and earn rewards, they also come with disadvantages, such as high APR rates, which can be risky if you don't pay off your balance in full every month.
Does using cash-back hurt your credit score?
No, using a cash-back card does not hurt your credit score as long as you pay your bill on time and in full every month. The main factors that impact your score are payment history, length of credit history, the type of credit you use, amounts owed and new credit you apply for. However, payment history and the amount of debt you have are weighted more heavily, so it's important to avoid debt and late payments if you want to build or maintain a high credit score.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best cash-back credit cards with no annual fee.
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Our methodology
To determine which no-annual-fee cash-back cards offer the best value, CNBC Select analyzed over 250 major credit cards issued through FDIC-insured banks and NCUA-insured credit unions that are widely available in the U.S.
We compared each card on a range of features, including rewards, annual fees, welcome bonuses, introductory and standard APR and balance transfer fees and foreign transaction fees. We also considered additional perks (e.g., ongoing travel or merchant statement credits), cardholder protections (e.g., purchase protection, $0 liability protection and travel insurance), the application process when available (e.g., is there a credit pull or required credit score) and how easy it is to redeem points.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
For the cards that offered a rewards program, we considered consumer spending data forecasts from location intelligence firm Esri to determine where U.S. consumers are spending the most money, like on dining and travel. We used this to help determine what bonus categories are most useful for consumers.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Read more
*Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
For rates and fees of the Blue Cash Everyday® Card from American Express, please click here.
For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.
