The Citi Premier® Card, for instance, offers 60,000 bonus points after you spend after you spend $4,000 in purchases within the first 3 months of account opening. The card has a sign-up bonus that makes up for the fee.You might want to pay an annual fee for a credit card when: Be clear about this point so that the customer service representative doesn't perform a hard inquiry on your credit, which can damage your credit score. If you downgrade, stipulate to the issuer that you don't want to apply again.Closing a credit card account can lower your credit score, but you can still look for the best no-annual-fee card you can qualify for if you have very good credit – a FICO score of 740 to 799 – and can afford to take a small hit to your score. You probably will not be able to downgrade your card within the first year the account is open. But keep in mind that closing an account can lower your credit score. The easy solution is to use your points before making a move to another card. However, if you plan to close the account and open a card from a different issuer, you may forfeit any points you've earned. If you want to stay with the same issuer and just downgrade to a card with no annual fee, your points might be unaffected. If you are an experienced credit user with only top-tier cards in your wallet, you might like to add a no-annual-fee card. You don't need to pay extra for 0% APR credit cards, even ones with long introductory offers. You would like a card with a 0% introductory annual percentage rate.This type of credit card does not require a strategy for earning rewards to offset the annual fee, which means you could keep the card open at no cost, even after you upgrade. Whether you want to build or rebuild credit, you can find many no-annual-fee cards to help you achieve your aims. You need a starter or credit-builder card.However, you will need to be able to earn enough rewards to offset the annual fee, regardless of whether you use all the benefits. Generally, a card with an annual fee provides more perks than a card without one, and the higher the fee, the better the benefits. Although you may not pay an annual fee, be aware that no-annual-fee credit cards may charge other fees, such as late fees, balance transfer fees and foreign transaction fees. Credit Cards With No Foreign Transaction Fee.
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