What are no fee credit cards?

Credit cards that do not need you to pay an annual fee in order to use them are referred to as “no annual fee” credit cards. Credit card companies often charge annual fees for the privileges that come with using a credit card, such as the ability to collect rewards.

A fee of this kind will typically be assessed once per year as a separate item that appears on your credit card statement. When you sign up for a credit card that does not charge an annual fee, your card issuer will not charge you a fee to start the account and will also not charge you a price to maintain the card.

However, it is essential that you keep in mind that if you do not pay off your credit card amount in a timely manner, you may be subject to additional costs, such as a balance transfer fee, a late payment fee, or interest on purchases, which will be applied to your card.

Comparewise Credit Card Banner 728X90

Read other Q&As

How to Improve Your Credit Score
How to Buy Stock In Canada
What are Child Tax Loans
How to Invest In Canada
How to Choose Health Insurance for Seniors
Refresh Financial
Smarter Loans
MBNA True Line Gold Mastercard
Scotiabank Gold American Express Card
BMO Cashback World Elite MasterCard
Home Trust Secured Visa Card
RBC Avion Visa Infinite
Brim World Elite Mastercard


Didn’t find an answer to your questions?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!