The Best No Annual Fee Credit Card Setup (UPDATED)
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- Опубліковано 15 чер 2024
- With prices increasing in the United States today, finding value where you can is increasingly important. The good news is that there are no annual fee credit cards, which can be a simple and easy way to get straightforward value on those everyday purchases.
In this video, I’ll cover the best no-annual-fee credit card setup so you can continue maximizing your points and cash back using 4 cards or less.
One reason to have a no annual fee credit card setup is that you never have to worry about recovering that annual fee and get value back, which is usually charged up front when you first get the card.
There are 4 credit cards in this setup that we'll be using: the core card, the secondary card, the catch-all card, and the flex card.
For the core card, a great option is the Wells Fargo Autograph card because it covers so many great, everyday categories at the 3X level. It earns unlimited 3X points back on restaurants, travel, gas and EV charging, transit, popular streaming services, phone plans, and 1X points back on all other purchases.
For the secondary card, we'll be using the Capital One Savor One card since the Wells Fargo Autograph card doesn't cover groceries. It earns unlimited 3% cash back on dining, entertainment, popular streaming services and grocery stores.
For the catch-call card, there are a lot of great options, but since we're already using the Autograph card, we'll also be using the Wells Fargo Active Cash card that earns unlimited 2% cash back on all other purchases.
For the flex card, the best option would be the Citi Custom Cash card, which earns 5% cash back on your top eligible spend category up to $500 each billing cycle.
So this is the no-annual-fee setup that I'd recommend to maximize value, while keeping things simple, allowing you to get the most value back for the least amount of effort.
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📚 Chapters:
00:00 Intro
00:37 Primer
03:26 Best No Annual Fee Setup
13:01 Outro
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It doesn't have to be too complicated and like you outlined in this video, it's absolutely possible to have a very strong Credit Card Setup without paying high Fees, and still getting all of your main categories covered. Core, Secondary, Catch All & Flex definitely makes sense for that, and absolutely love the flexibility of the Custom Cash to be your flex Card for a dedicated category. Great video as always!
Thanks Matt! Yeah, I completely agree. Some of the best credit card setups are the simplest. Of course, one card would be an option, but I think with 2 cards or more, that setup can be so much better, but the more cards that are added, the more complicated it gets so it's definitely going to be a balance when you decide on your strategy and choose your own adventure!
@@TheCreditFrog tell me sumthing buddy which do u think is the best option chase sapphire reserve or the amex platinum 🤔
@@ToboeKey309 I have a whole video on that if you look back 5-6 videos ago! It's going to depend on the person, but for most people, the CSR will be the better value!
Great setup! Thanks for the info + video!
You're welcome, Jimmy James!
I just love how you break it down! I never thought of the Wells Fargo Autograph as a core card. RJ told me about it as well and you guys are pushing me into getting it now that I don’t have the Amex Gold! Great Video Stan! Thank you !
Of course Joe! WFA is a great core card that covers a lot of important spending categories! Definitely something to think about now that you no longer have the Amex gold!
Recently I've been thinking of dropping most of my annual fee cards, moreso the higher end cards. thanks for putting this together. It gives me something to think about when I finally decide to drop the annual fee cards. Right now I’m focusing on travel, so I kind of need them.
I have that same thought literally every single day, haha! There's definitely more value with annual fee cards if you play them correctly, but nothing beats the simplicity of a no annual fee setup to fall back on!
This is a great video to setup cc for my parents
Awesome! Yeah it’s simple and very valuable!
Nice and informative video to break up the monotony of the day.
Thanks Frugal Dad Finance! I'm happy I could help make your day that much better!
Killer setup Stan, I'd pretty much end up with the exact same cards, though as you pointed out, you can easily replace a slot with another card depending on your own issuer preferences and specific spending habits. Especially if you get into the vast world of credit unions, per my limited understanding.
Thanks Monty! Yes, there are so many credit cards to choose from - and you're right, with credit unions, that list that gets even bigger. But as long as you stick to a framework, you can slot cards in and out and it doesn't have to be the same cards! Sometimes even a variable setup could be helpful to use depending on what season you're in! Happy to hear that we would use the same cards!
Nice video Stan and great for younger people. My son has CSP and looking to supplement now. Never seen any UA-cam credit card guys talk about Citi Costco Visa. The card is no fee, great at Costco, travel, gas, and decent at dining. It’s also cash back - not points. Got $964 back this year, which covers $120 Costco Executive membership and then some. Supplement it with a grocery card, streaming and other major categories and you’re good.
Thanks Len! Yeah, the Citi Costco VISA is a great no annual fee card. I think some issues with it include waiting a whole year to cash out the cash back where there are other cards that will get you that cash back must sooner. Great cards to use at Costco or even Costco gas would be the US Bank Altitude Reserve, BofA Customized Cash Rewards card, and the Venmo VISA. Those cards get you at least 3% cash back at Costco, which is even higher than the 2% already offered on the Citi Costco card.
What a powerful, simple, setup. I like seeing something no one else is talking about. Great, high quality, video Stan!
Thank you Dr. Vinnie! Yes it is quite simple! The framework is what's important. I appreciate the support!
@@TheCreditFrog the active cash card doesn't fully get the job done thanks to the 3% FX fee attached to the card
second this! great vid for a simple no AF set up with great returns! a nice refresh from all the videos on strategies on how to maximize transfer partner point redemption to fly first class 😆sometimes simplicity is just easier on the mind! thanks for making one for the ppl who don’t wanna deal with making sure they get the full value from the AF! now just waiting on this WF announcement…
Sometimes I think that in an alternate universe I would embrace a cash back setup fully and love the simplicity. All jokes aside great video Stan!
Haha! For sure Jake! Having that kind of simplicity seems pretty nice after I've finished tallying my statement credits for the new month, quarter, semi-annum, and/or year 🤣
@@TheCreditFrog Hahaha gotta make back our hundreds of dollars in annual fees with a bunch of $10 credits😂
My parents plan to travel internationally, and needed a no annual annual fee, no foreign transaction fee card. The Wells Fargo autograph sounds perfect!
That WF Autograph card is exceptional for international travel. And when it gets transfer partners (eventually), it will be even more powerful!
Well done Stan! Another great informative video.
Also, i want to remind you the Chase Unlimited & the Flex offers 3% back at drugstores.
Thank you so much! Yes, those are 2 other great no annual fee credit cards that can be incorporated into this setup as well!
I run a very similar set up for my everyday spending:
Core: Autograph
Secondary: Amex Blue Cash
Catch All: active Cash
Utilities: Cash+
Flex: Freedom Flex
@@eversonl6724 Wow! That's awesome! It's almost straight out of this video! Congrats on building a solid everyday spending setup!
Sadly, I only use my Chase Unl at drugstores.. all my other cards cover all of the other categories.
Custom Cash was obviously going to make the list, just a matter of where 🙂. If cashback is the only goal, Bilt might be a bad option, but even an RJ Financial type should be able to find some use for the great no annual fee card 🙂. Great video Stan 👍🏽.
For sure! That Citi Custom Cash is super powerful! Yeah, the Bilt card doesn't have that 5X multiplier, except for on Rent Day for that 6X on dining, but it does have some pretty neat perks too that kind of make up for it (depending on your use case). Of course, 1X on rent with no CC fee is great if you don't have a welcome offer to hit!
A great no annual fee setup! Honestly love the Wells Fargo setup with the potential to transfer points soon. I’d maybe toss in a quarterly card for fun like the freedom flex and maybe an Amazon card since you can set it up in the app and earn 5% without ever touching the card again 😎
A quarterly card would certainly spice things up! And yeah, I love those cards that you can enter into your account automatically, and just get rewards on autopilot!
Super simple and yet powerful card setup Stan,
When Wells Fargo introduces their transfer partners for the autograph card do you think there could be an option to transfer Wells Fargo points into Bilt Points and piggyback off of Bilt’s partners since they’re the issuer of the Bilt Mastercard?
For sure! As for the transfer partners, I’m hoping the WFA and the about card ca transfer between them, but more importantly, I hope the travel partners are somewhat close or the same as the Bilt card so transfers wouldn’t even have to matter at that point!
I got bamboozled getting the Chase sapphire preferred. I don't have alot of expenses so to get their 3 month bonus, I have to spend extra, which doesn't make sense. I'll get my value back but the rewards system is complicated. Should go this route in the future.
The CSP is still a good card if you're just starting out in the travel game. But yeah, hopefully in the future, you wouldn't spend any extra to meet the welcome offer! You can complement your CSP with Chase Freedom cards which are no annual fee, and maybe even get welcome offers that have a limited-time bonus that could work in your favor!
hi Stan, can you make a no Foreign TF video? lowest AF as much as possible....
for UR/Hyatt points... I am looking at CSP, CIBP, Bilt.... was thinking about C1 Savorone but only as 1x on everything else... any card I should get?
I’ll add it to the list! I would also include the BofA TR, which is 1.5X, but with BofA Preferred Rewards can go as high as 2.625X!
Savor One & Bilt are topnotch
Definitely! I need to add the Savor One at some point.
Excelente 👌
Very nice ✌️
People seem to really underestimate the Autograph and Savor One duo.
It’s a very powerful setup!
Groceries - Citi Custom Cash (CCC) #1
Gas - CCC #2
Dining - CCC #3
Transit - CCC #4
Travel - CCC #5
Home Improvement - CCC #6
Drug Stores - CCC #7
Mix and match the above, or better use with Curve.
Rent - Bilt
Everything else - Amex BBP.
Haha!! I want to know how to get 7 CCCs! Curve would definitely help with that
@@TheCreditFrog I have 9 so far. All received by PCing from other Citi cards.
@@TheCreditFrog Unfortunately Curve is closed for new applications right now.
@@yurig2530how long do u have to hold a Citi card before product changing it to the CCC?
The bilt card only works if your leasing company doesnt have a 54 dollar convenience fee. You are actually making less money with the BILT card. Just pay rent at walmart.
I honestly never needed anything besides the Savor ONE. This card alone is great especially for us remote workers that dont really drive much and our companies pay for trips.
The SavorOne is a solid card. The Bilt card is a great way to get points back on rent. I don't think you're losing out on rent payments by using the Bilt card, especially if there are credit card fees with rent! It also depends on how you use the points.
Do any of these cards cover Walmart grocery purchases?
I'm not sure, but it will depend on how the card codes. I know that the AAA Daily Advantage card codes as 5% for Walmart groceries!
Really feels like forever on waiting for WF to make the partner(s) announcement.. I've been hoarding my WF MR points.
It certainly does. WF is taking their sweet time making the announcement!
Autograph bonus lowered to 200 this week 😕
Wells Fargo at it again!
May be a dumb question but Is the Citi Custom Cash points able to transfer to travel partners or just strictly redeemed for cash?
You can definitely transfer them since they're earned as Citi ThankYou points. The only thing is you'll need the Citi Premier card to unlock transfer partners!
@@TheCreditFrog thank you! Definitely going to think about adding these in the future.
Low key I might have to start grabbing more no annual fee cards later this year.
With all these annual fees going up, it's definitely a reason to start going back to basics!
Two more credit cards?? How are we ever going to get under 5/24, Stan?
I don't know Keith 😢. So many credit cards, so little 5/24 slots. Business cards FTW!
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Remember, if you’re active military, the Amex Platinum, Gold, Business Gold, Green & BBP is the best no annual fee set up.
It’s nice having no annual fees!
Second!
You win second, Matt! 🥈
First
Congrats CJ! You are FIRST! 🏆
I don’t do business with Wells Fargo out of principle.
Hah! I kind of felt the same way, but then I got the Bilt card, and it changed my mind! I think that reflects more on Bilt than WF, but still!
I don't mind open up credit cards with them. I would not want to leave my own money to them.
@@Milkinporsche Great distinction!