no fees

10+ Banking Solutions Without Fees or Minimum Balance Requirements

Personal Finance, Reference /

Checking accounts aren’t always cheap or easy to use, despite their importance. We’ve compiled a quick list of popular solutions. Americans lose billions every year through monthly maintenance fees, overdraft fees, or miscellaneous charges. Banks are starting to eliminate or reduce fees yet it can still add up. The Consumer Financial Protection Bureau (CFPB) reported a couple of months ago that “Banks continue to rely heavily on overdraft and non-sufficient funds (NSF) revenue, which reached an estimated $15.47 billion in 2019.” The middle class and lower class are losing out on opportunities. The FDIC says that over 7 million American adults don’t have a bank account. The most-cited reason why: because they can’t afford minimum balance requirements.

The below list has some no-fee options, which can help you avoid the worst outcomes; these accounts don’t require minimum balances either. Some are banks while others are fintechs (financial technology companies) who partner with banks. Note that this isn’t a top 10; it’s a somewhat subjective list, which may change in the future. The below options are in alphabetical order and we don’t recommend or endorse any specific product(s) here. Also be sure to opt out of “overdraft protection” when opening an account, if the option pops up during registration.

And check your local area for alternatives to big banks. Smaller credit unions typically don’t have big fees. This can save a lot of money in the long run.

…

10+ Banking Solutions Without Fees or Minimum Balance RequirementsRead More »

Credit Card Issuers: Cardless (4+ Cards Reviewed)

Credit Card Reviews, Credit Card Roundups /

Update 2: IMPORTANT! As of August 2022, the below information no longer applies. Cardless gutted every credit card’s earn rates. And they reduced sign-up bonuses to almost nothing. None of these cards are worth getting anymore, unless MAYBE you’re a fan of the below teams. If not: Cardless has zero benefits compared to competitors. Very few people will find these cards useful – many better options exist!

2 out of 5 stars for everything from Cardless.

–

Update 1: As of April 2022, there are now 6 cards, and all of them now have the same sign-up bonus.

Although at first glance the “Cardless” credit cards look like novelties for certain sports teams, they’re surprisingly interesting. The sign-up bonuses and earning structures are reasonable for no-fee cards. Points are a standard $0.01 each as a statement credit. (Slightly more if you get gift cards related to the specific sport team instead.) Even if you don’t care about the team featured on each card, these are worth considering for long-term cash back benefits.

Cardless uses the Mastercard network. “Issued by First Electronic Bank, Member FDIC. Offers subject to credit approval.“ They reportedly use the Experian bureau. We haven’t verified yet if there are special benefits like World Elite status. Cards don’t have any fees. No annual fee, no foreign transaction fees, no late fees, nothing. Several reports say that Cardless doesn’t allow applications to more than one card. If you’re going to pick one of the below options, choose carefully, because that’ll be the only option for your foreseeable future.

Most of these cards earn cash back on streaming. This might be limited. According to their FAQ: “Purchases on subscription streaming services (including eligible music and video streaming services, including Netflix, Hulu and Disney+.) Some services, such as Apple Music, Apple TV+, ESPN+, Prime Video, AT&T TV and Verizon FIOS On Demand, are excluded, as well as audiobook subscription services & fitness programming.” Some cards have an extra monthly benefit, “$5 towards Peacock Premium after $500 in monthly spend.”

…

Credit Card Issuers: Cardless (4+ Cards Reviewed)Read More »

Review: Capital One SavorOne

⭐⭐⭐⭐⭐, Credit Card Reviews /

The Capital One SavorOne Rewards Mastercard is a no-fee card which earns unlimited rewards in popular categories. Although it usually isn’t considered the “best” for any single category, few cards have a decent earn rate in 4+ spend categories. This makes the SavorOne worth considering as a general everyday card, especially for grocery spending. Their new Uber partnership is another strong point to consider.

FEATURES AT A GLANCE

…

Review: Capital One SavorOneRead More »

Review: PSECU Founder’s Rewards Card

⭐⭐⭐⭐, Credit Card Reviews /

PSECU Founder’s Rewards (Pennsylvania State Employees Credit Union) is a basic cash back credit card for everyday spending. It can earn 2% without any annual fees or foreign transaction fees, which is slightly better than competing cards. The only drawback is that it requires credit union membership, and a free checking account with direct deposit enabled.

FEATURES AT A GLANCE

  • No annual fee
  • No foreign transaction fees
  • 2% cash back on everything (with eligible direct deposits, otherwise 1.5% cash back)

…

Review: PSECU Founder’s Rewards CardRead More »

The Top 5 No-Fee Credit Cards For Gas

Credit Card Roundups /

Gas is a spending category which applies to most people. A 2021 CNBC article said the average American household spends $2,218 per year on gas. To maximize cash back rewards without annual fees, we’ll show you the best options here. Even cards with annual fees are rarely as good as these top credit cards.

If you happen to know about a credit card which should be here, feel free to let us know so we can update this list.

Note that gas-station-specific cards are rarely worthwhile, especially when gas prices are high. Sunoco for example gives a perpetual discount of $0.05 per gallon, but if gas is $3 per gallon, 5% cash back cards give triple the value (at $0.15 per gallon). Rewards programs (like through T-Mobile Tuesdays) may give additional discounts.

 

…

The Top 5 No-Fee Credit Cards For GasRead More »