No Annual fee ranges of credit cards

A number of banks are now offering not simply a no annual fee credit card, but a range of no annual fee credit cards.  This can mean that there are a number of credit cards on offer.  It is now possible to get prestige credit cards such as gold credit cards and platinum credit cards without paying an annual fee.

The range of credit cards that go under the “no annual fee” label can obviously not differentiate themselves through annual fees which are all the same and all zero.  However the way in which they do differentiate themselves is through the interest rates that they charge.  This means that the higher the level of service that the card user opts for then the higher the interest rate that they will be charged.

One of the unappreciated advantages of no annual fee credit cards is that they can make comparisons between credit cards very easy.  It is quite a simple operation to compare the interest rates that various credit cards charge and to work this out as to whether it would be advantageous to take one card over another.  There is no need to compare cards.

No annual fee credit cards, whether gold or platinum, offer a number of services that these prestige cards tend to offer normally.  However they rarely offer the rewards programs that the cards that charge fees tend to offer.  One of the main features of prestige cards is their generous and very flexible rewards schemes.  However there are fees that the credit card companies do offer.

There will be three main types of credit cards that are offered in a no annual fee credit card range.  These are standard, platinum and gold credit cards.

The standard no annual fee credit card will be like most no frills cards, and most no annual fee credit cards, in that it will offer a stripped down version of what other credit cards offer.  This is simply the ability to pay with a card and to borrow the money to do so.

No annual fee gold credit cards will mostly offer insurance on goods that are bought with the card.  This insurance includes travel insurance and platinum insurance.

Platinum credit cards in the no annual fee range will offer the insurance that a gold card offers, but also offer access to a concierge service which are personal assistants that can be accessed through the phone.