Some credit cards feature an annual fee (sometimes well over $100). Others are no fee credit cards, or they may offer no annual fee for the first year. It seems an obvious choice, doesn’t it? If choosing between two credit cards, the no fee card would be more attractive. But are they really worth it?

Here are few things to consider when deciding whether or not a no fee credit card, like the American Express Gold Ascent credit card, is right for you:

Review the latest no annual fee credit cards.

1. Rewards

Credit cards with the highest annual fees tend to be rewards cards such as the Commonwealth Bank Gold credit card (with an annual fee of $114). That’s because the annual fee includes a fee for membership into the rewards program. Therefore, an annual fee may be worthwhile if the rewards program would be useful to you, but unacceptable to you if no rewards program is involved.

2. Interest Rates

In a perfect world (for consumers) credit cards would all be no fee cards, and they would all have low interest rates. However, it’s more likely that you’ll have to choose between the two. If a credit card company isn’t making money through fees, chances are good that you’ll have a higher interest rate. If you regularly keep a balance on your card, the interest payments may amount to more than what you would have paid in an annual fee elsewhere. In that case a card with no annual fee wouldn’t save you money.

3. No Fee Periods

Not all no fee credit cards are created equal. Some offer an introductory special of no annual fee for the first year only. An example is the HSBC Visa Gold credit card which waives the annual fee for the first year, but charges $89 per year after that. When choosing a credit card, you should think about your plan for long term use. If a card with an introductory no fee offer also features a low regular interest rate, it may be worthwhile and save you money (especially if you plan to do a balance transfer after that first year to avoid the future fees). If, however, you pay off your balances in full every month (meaning you may not be charged interest anyway) and you would prefer a new credit card that you can stick with for years to come, the introductory offer probably isn’t your best bet. You would want to look at cards with no annual fees on a permanent basis.

Choosing a credit card can feel like a bit of a game played between you as the consumer and the credit card companies. They want to make money, and you want to save it. No fee credit cards can work to the advantage of either, depending on how you’ll actually use the card. That means it’s up to you, and you alone, to determine if a card with no annual fee is really a potential bargain (or a burden).