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Are No Annual Fee Credit Cards a Thing of the Past?

With the turn the economy has taken, it seems that lenders and creditors are cracking down. Sub-prime lending may become a thing of the past. Does this mean that attractive credit offers are also going the way of the dinosaurs? Are 0% offers and no annual fee credit cards soon to be extinct? The answer is yes and no. This is what you can expect to see in the months to come... Lower Limits

Credit cards, including no annual fee credit cards, are likely to have lower credit limits now – and that's not just new cards you're approved for. You may get letters in the mail from some of your credit card companies letting you know your credit limit has been decreased. ABC News reports that one woman experienced a decrease of a credit limit that went from $2,800 to just $1,000 even though her financial situation hadn't changed at all.

0% Interest?

Believe it or not, we may still see our fair share of 0% interest credit card offers. The Discover More Card, rated the top No Annual Fee Credit Card by StarReviews.com, still offers no annual fee in addition to a 0% intro rate and up to 5 percent cash back. It's just a matter of qualifying for it.

Credit Matters Many credit card companies will still be offering no annual fee credit cards, but these cards may be harder to qualify for. If you've had any credit trouble in the past, you should plan on paying an annual fee, even if it's only $29 or $39 per year. If your credit is spotless, no annual fee cards are still in your future, but the credit limits attached to them might not be what they once were.

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