by Katerina Nikolas

Created on: August 27, 2010

There are some excellent offers available on the top no fee credit cards which those with excellent credit can use to their advantage. The best cards give rewards and cash backs and have an introductory period of 0% APR on purchases leaving you to invest your money until the variable rate begins. Variable rates tend to run within a certain range but will be immaterial to those who carry no balance once the introductory APR offer has expired. The top no fee credit cards not only offer cash backs and rewards but some offer a statement credit when a set amount of purchasing is done through the card.

The Discover More Credit Card: The card has a six month 0% APR on purchases before reverting to the standard variable APR which currently ranges between 11.99% and 20.99%. There is unlimited 1% cash back on everything, but on certain changeable categories such as gas, groceries, travel, restaurants and home improvements the cash back is 5%. In addition a $75 cash back is given when the user makes more than $500 in purchases in the first 3 months.

The Bank of America Cash Rewards Visa Signature Card: There is an introductory period of 0% APR on cash purchases, the length of which is determined by your credit score so only those with excellent scores will benefit the most. The variable rate is currently between 12.99% and 20.99%. A statement credit of $50 is rewarded after just $100 of retail purchases made within the first 60 days. The offered cash back is 3% on grocery, drug store and gas purchases for the first 6 months and 1% on everything else.

The True Earnings card from Costco and American Express: This is an excellent card available fee free from Amex to card holding members of Costco. There is 0% APR for the first 6 months of purchases which reverts to the standard variable rate of 15.24%. Card holders can claim up to 3% cash back on gas purchases per annum and 1% on all other purchases with some offers extended. The card offers a $25 statement credit after the first purchase. It comes with many of the associated benefits of Amex cards but without the fee and has proven to be a popular choice as a cash back card.

The Chase Visa Freedom Card: This card has no introductory period of a low APR and the standard variable rate is charged. This ranges currently from 12.99% to 22.99% dependant on credit scores. The cash back scheme is excellent offering 5% in quarterly bonus categories, up to 20% at selected merchants online, and an unlimited 1% on everything else. In addition there is a bonus of $100 cash back when $799 is spent on purchases within the first 3 months

These credit cards represent the top cards which carry no fees but there are other excellent rewards schemes available depending on your needs. Excellent credit is needed to apply for these cards and most offer an initial 0% APR on purchases allowing your money to work for you until it is time to clear the balance before the variable rate kicks in. For those intending to carry a balance then the rewards benefits will be overshadowed by interest payments so to maximise the cards potential the balance should be cleared in full every month once the introductory offer period expires.

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