No Annual Fee Credit Cards
Learn all you need to know about no annual fee credit cards so that you can decide with confidence if such a card will be right for you.
Table of Contents: Guide to no Annual Fee Credit Cards
- Compare no annual fee credit cards
- Which is the best no annual fee credit card?
- How do no annual fee credit cards work?
- How to compare no annual fee credit cards
- How to use a no annual fee credit card

Best No Annual Fee Credit Card*
The Bankwest Zero Platinum MasterCard provides all the benefits of a Platinum Card with ZERO annual fee and an interest rate of 16.99% p.a. for purchases and cash advances.
- $0 annual fee
- 16.99% p.a. on purchases
- 16.99% p.a. on cash advances
- 1.99% p.a. for 9 months on balance transfers
- 24/7 Concierge Service, Complimentary International travel insurance plus lots more!
No Annual Fee Credit Card Comparison
| Credit Card | Card Details | Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest free days (up to) | |
|---|---|---|---|---|---|---|---|
![]() Bankwest Zero Platinum MasterCard | ![]() Editor’s Choice: Best No Annual Fee Card Awarded the 'Best Transactor Credit Card' by Money magazine for 2010, featuring no annual fee, ever! and an amazingly low balance transfer rate of 1.99% p.a. for 12 months. | 16.99% | 16.99% | 1.99% for 9 months | $0 | 55 | ![]() ![]() |
![]() Bankwest Zero MasterCard | A plain no frills credit card which offers a grace period, modest interest rate and zero dollar annual fee. Up to 3 cardholders complimentary. | 16.99% | 16.99% | 1.99% for 9 months | $0 | 55 | ![]() ![]() |
![]() Bankwest Zero Gold MasterCard | Travel accident insurance, 12 month extended warranty on purchases with licensed Australia warranty and purchase protection | 16.99% | 16.99% | 1.99% for 9 months | $0 | 55 | ![]() ![]() |
![]() HSBC Credit Card | $0 annual fee for the life of the credit card and a 5.99% for 6 months balance transfer offer. Money Magazine's Best Transactor Credit Card for 2010 | 16.99% | 19.99% | 5.99% for 6 months | $0 | 55 | ![]() ![]() |
![]() American Express Gold Ascent Card | No annual fee ever, with up to 44 days interest free on purchases and complimentary enrollment into the Membership Rewards program. | 19.99% | 20% | N/A | $0 | 44 | ![]() ![]() |
![]() ANZ First Visa Credit Card | No annual fee for the first year. *Annual fee reverts to $30 after the first year. | 18.49% | 20.24% | 7.99% for 6 months | $30 | 44 | ![]() ![]() |
![]() Commonwealth Bank Low Fee Card | No annual fee if you spend over $1000 per annum on your card. Otherwise, a $24 annual fee. | 19.24% | 20.74% | 5.99% for 5 months | $24.00 | 55 | ![]() ![]() |
![]() HSBC Gold Visa Card | No annual fee for the first year which reverts to a standard $89 after. Access to the HSBC Gold rewards program and Complimentary International Travel Insurance. | 18.99% | 21.75% | 5.99% for 6 months | $86.00 | 45 | N/A![]() |
![]() Woolworths Everyday Money | No annual fee for the first year, then $49. Woolworth’s generous shopping rewards program. | 18.74% | 20.99% | 5.99% for 6 months | $49 | 55 | ![]() ![]() |
What is a No Annual Fee credit card?
How do No Annual Fee credit cards work?
Types of No Annual Fee credit cards
- No annual fee for life - This is the real deal, in that you are not charged an annual fee for as long as your credit card account remains active. It is always wise to check the fine print on these offers in case the provider is reserving the right to impose a fee after a certain period of time.
- No annual fee for the first year - This is where the fee is waived for the first twelve months, before the regular fee kicks in. In this case it is a good idea to take into account the level of the annual fee that will come into force in the second year, and make sure it is not much higher than other similar cards that charge for the first year. Waiving a $60 dollar fee in the first year will work out the same after three years as being charged $40 a year from the word go. After three years you will obviously start losing out with the $60 card, at least in terms of annual fees.
- No annual fee special discount - These offers usually rely on you having some other product with the bank or provider, such as a linked checking account. In this instance your fee may be waived or reduced in the first year only, or it may be an ongoing deal, compared to those customers who only take the credit card and are subject to the standard annual fee from year one.
How to compare No Annual Fee credit cards
- The annual fee - As discussed above, you need to check whether the absence of an annual fee is an ongoing deal or applies just for the first year. You need to balance this against the other features of the card.
- The interest rate - This is also known as the APR (Annual Percentage Rate), which is the rate of interest that is applied to any part of your balance you carry over from one month to the next. Unless you are 100% convinced you will always pay your debt off in full each month, then you should look for the lowest rate. This is to guard against the possibility that you will one day be unable to clear your debt in full at month-end. Remember that a high percentage rate can hit you hard if you decide to make a large purchase that it takes several months to pay off. You may save yourself $40 or $50 on the annual fee, but if this means accepting an APR of 18% rather than 10% on purchases, you can see how easily that saving can be eroded if months pass by with interest stacking up on a large unpaid debt.
- Interest-free days - Most credit cards allow up to 55 days interest-free credit on purchases, although some give 44 days. The interest-free period is the time between making your purchases and the payment due date on your credit card statement. Remember that you do not get 55 days interest-free on all your purchases; this is the maximum amount of time you can hope to obtain if your first transaction is on the first day of your new statement period. This is why it is important that you are sure your debt can be repaid in full by the due date. It is a very rare credit card that does not offer interest-free days on purchases, and there is no reason that this should be denied on the basis that the annual fee is being waived.
- Balance transfer offers - This is an extremely popular hook with which to catch new credit card customers, and these are not as common on no annual fee credit cards as they are on cards that charge a fee. However, if you do have a debt on another credit card and you can find a new provider offering a zero fee and a great balance transfer rate, you should grab it while you can. The card provider here is most likely gambling on the possibility that you will not be able to pay off your transferred balance before the offer period expires and a punitive interest rate takes over. Make sure you check the fine print in this situation because the rate your balance transfer reverts to may not be the regular rate of interest; it may instead be the cash advance interest rate, which is usually around 20%. It is the consumer's responsibility, therefore, to make sure that they choose a balance transfer deal that is realistic. In other words, one that offers a long enough period of time to completely repay the debt.
What can you expect with a No Annual Fee credit card?
How to use a No Annual Fee credit card
In conclusion
To find out if no fee credit cards are right for you, see our no annual fee credit card resources.
- How Important Is A Credit Card’s Annual Fees?
When comparing credit cards, how important is the annual fee in comparison to say the purchase rate or the balance transfer rate? Hopefully this article will help answer that question for you.
- Is A No Annual Fee Credit Card Offer Worth It?
A no annual card fee can be great for certain credit card consumers and not so for others. After reading our article you will be able to assess whether a no annual fee credit card offer is right for you. You will understand the factors that will make such a card a success or a [...]
- How To Compare Annual Fee Credit Cards
No annual fee credit cards are a good way to save money and are an obvious choice for most credit card applicants. However there are three types of no annual fee credit cards you need to understand in order to make the right choice between them.
- No Annual Fee Credit Cards
Whether to choose a no annual fee credit card or not depends on your needs. Find out when it is better not to bother and if so where to find the right no annual fee card.
- No Frills Credit Cards: The Benefits & Advantages
There are so many cards to choose from, you may be wondering why you might opt for a no frills credit card above the others.
Once upon a time, all credit cards were pretty much no frills. Now, with so much competition, there are enticements galore for the new credit card customer. So why go back to basics and choose a no frills credit card?
- Australian Guide To No Annual Fee Credit Cards
When you use or apply for a credit card you generally are going to be subject to all the fees, including annual fees, interest rates and over the limit fees. There are however a unique range of credit cards that offer you all the benefits of a normal credit card, but with one very attractive: No Annual Fee! Check out the range of no annual fee credit cards available from Australian banks
- 4 Ways to Get Stung with a No Annual Fee Card
Nobody likes annual fees, but then again nobody likes to get stung by their credit cards with unnecessary or excess fees.
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Find out the four top methods of getting burnt along with how to avoid catching fire in the first place with a no annual fee card. - The Truth about No Annual Fee Credit Cards
It’s a fact in Australia and the rest of the western world with credit cards: people despise annual fees.
Whether it’s the security and peace of mind knowing it won’t generate you any automatic debt just lying around inactive, or simply the belief that you’ll be saving money, no annual fee credit cards are always a popular choice among Australian consumers.
| Credit Card | Card Details | Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest free days (up to) | |
|---|---|---|---|---|---|---|---|
|
St George Vertigo |
Editor's Choice:Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks. |
2.99% for 6 months (reverts to 11.99%) | 20.74% | 2.99% for 6 months | $55 | 55 | ![]() ![]() |
![]() Coles Group Source MasterCard | The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points | 19.74% | 21.99% | 0% for 6 months | $0 | 62 | ![]() ![]() |
![]() Bankwest Zero Platinum MasterCard |
Editor's Choice:No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers |
16.99% | 16.99% | 1.99% for 9 months | $0 | 55 | ![]() ![]() |
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