The Best Simple Credit Card in America

For credit card customers who are burned out on the complexity of many credit card offers — in particular, costly and complicated fee structures and penalty rates — you might want to consider the simple credit card.

Simple credit cards are just what the name implies: straightforward card deals with good interest rates and as few fees as possible.

This month, we’ve reviewed the best credit cards that offer simple terms with the fewest fees and penalties possible, and are the easiest for the average cardholder to understand.

Finding the Right Simple Credit Card

Sifting through the many offers out there can be overwhelming. However, the credit card’s Schumer Box clearly lists a credit card’s most important rates and fees in a table, and applicants can compare multiple products side-by-side with everything presented in the exact same format.

However, when you’re looking at a credit card’s terms and features, it’s important to also consider your needs, and how you expect to use the card. If you don’t want to worry about paying late fees, you may want to choose a simple credit card with no late fees and no penalty interest rates. Travelers should opt for a card that offers no foreign transaction fees. Some credit card issuers charge 3% foreign transaction fees on card purchases made outside the U.S.

Before you apply for any credit card, checking your credit score to see where you stand can help you focus your search on credit cards that are geared toward your credit range. You can see two of your credit scores for free on Credit.com, updated every month.

And the Winner Is…

The PenFed Promise credit card is about as simple as you can get. Under fees in its Schumer Box, all you will see is the word “None” repeated seven times. This means that it has no annual fee, no foreign transaction fee, no balance transfer fee, no cash advance fee, no late fee, no over credit limit fee and even no returned payment fee. Furthermore, there is also no penalty APR or minimum interest charges.

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Cardholders receive a standard interest rate of 7.99% to 16.99% when they open their account, based on their credit-worthiness when they applied.

First things first: If you want to apply for this card, you have to be a member of the Pentagon Federal Credit Union, which is open to members of many different government, military and defense organizations. Those who aren’t affiliated with the aforementioned groups can join one of the military support organizations listed on the Pentagon Federal Credit Union website for a small one-time donation.

Want to know the other cards we picked? Check out the rest of the best simple credit cards here.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

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This article originally appeared on Credit.com.

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