No-frills cards are becoming more popular from lenders

Consumers who are wary of the high cost of dealing with credit card debt and had worked hard to chisel down their balances may be excited to learn that lenders are once again offering more affordable accounts.

Though the hottest competition among the nation's top credit card lenders remains for those who have the best possible credit scores, consumers with more modest incomes and credit ratings may soon find that the offers they receive for less expensive accounts are increasing, according to a report from the Wall Street Journal. These days, lenders are once again seeing the value in marketing low-rate cards to consumers of more modest means who previously had worked to reduce debt and get their finances under control.

The type of cards now being offered to these borrowers typically comes with low interest rates and almost no fees, but also no rewards or other perks, the report said.

In previous months, most credit card marketing was geared toward those who have higher credit ratings, for accounts that have top-notch rewards programs attached.