No Annual Fee Credit Cards

Stop paying annual fees: Compare credit cards with $0 and low annual fees

If you don’t like paying extra fees, a no annual fee credit card can be a great option. This guide explains, reviews and compares no annual fee credit cards in Australia, highlighting their features and benefits – so you can decide with confidence whether this type of card will be right for you. Even if saving on annual fees is your top priority it is still worth reading our guide to make an informed decision suited to your own personal situation.

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HSBC Platinum Credit Card - No Annual Fee Offer PE-10269

No Annual Fee Credit Card Offer

The HSBC Platinum Credit Card is a rewards credit card with the ability to earn 1.00 point per dollar on your spend. You'll get $0 p.a. annual fee for the life of the credit card.

  • 0% p.a. balance transfer for 8 months on application from non-HSBC credit cards (reverting to the cash advance rate of 21.99% p.a. and subject to change)
  • $0 p.a. annual fee for the life of the credit card
  • Up to 55 days interest free on purchases3 when you pay the full balance (including any balance transfers, promotional purchases and the 0% p.a. balance transfer offer above)
  • An ongoing variable purchase interest rate of 19.99% p.a.

    Compare no annual fee credit cards

    Rates last updated September 1st, 2015.

    BoQ Blue Visa Credit Card

    Balance transfer offer has been extended until 30 November 2015

    August 31st, 2015

    ANZ Platinum Credit Card

    This balance transfer offer has been extended by ANZ for the foreseeable future.

    September 1st, 2015

    ANZ Frequent Flyer

    No annual fee for the first year and 25,000 Qantas Points*

    September 1st, 2015

    View latest updates

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    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    HSBC Platinum Credit Card
    No annual fee for the life of the card. Earn points on everyday purchases and a balance transfer offer.
    19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Go to site More info
    American Express Velocity Escape Card
    Earn Velocity points without paying an annual fee. 7,500 Velocity bonus points when you spend $300 in the first 3 months.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    Westpac 55 Day Platinum Credit Card
    Get a balance transfer offer of 0% p.a. for 16 months, 55 interest-free days on purchases with $0 p.a. annual fee for the first year.
    19.84% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) 21.29% p.a. Go to site More info
    American Express Qantas Discovery Card
    Earn up to 7,500 bonus Qantas Frequent Flyer points, plus take advantage of the no annual fee offer. Earn 1.000 Qantas Frequent Flyer point per $1 spend.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    HSBC Credit Card
    A no annual fee for the life of the credit card offer. Plus a low balance transfer offer. Also offers interest free finance at over 1,000 retailers across Australia.
    17.99% p.a. 0% p.a. for 6 months $0 p.a. 21.99% p.a. Go to site More info
    Coles No Annual Fee MasterCard
    No annual fee and up to 62 interest free days. Earn 0.50 flybuys point per $1 you spend.
    19.99% p.a. 0% p.a. for 6 months $0 p.a. 19.99% p.a. Go to site More info
    BoQ Blue Visa Credit Card
    Receive a balance transfer offer with a low annual fee.
    20.74% p.a. 0% p.a. for 9 months $0 p.a. annual fee for the first year ($60 p.a. thereafter) 21.74% p.a. Go to site More info
    Bankwest Zero Platinum MasterCard
    Complimentary travel insurance & 24/7 Concierge service and $0 Foreign Transaction fees. Plus enjoy a $0 annual fee.
    17.99% p.a. 2.99% p.a. for 9 months $0 p.a. 21.99% p.a. Go to site More info
    ANZ Frequent Flyer
    Receive 25,000 bonus Qantas Points with $0 p.a. annual fee for the first year and earn 1.00 points per dollar spent.
    19.99% p.a. $0 p.a. annual fee for the first year ($95 p.a. thereafter) 21.49% p.a. Go to site More info
    BoQ Low Rate Visa Credit Card
    A low ongoing purchases rate and no annual fee for the first year.
    13.49% p.a. 0% p.a. for 6 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) 21.49% p.a. Go to site More info
    ANZ Platinum Credit Card
    A low annual fee credit card with overseas travel and medical insurance.
    19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) 21.49% p.a. Go to site More info
    Woolworths Money Everyday Platinum Credit Card
    0% p.a. for 14 months on balance transfers and earn up to 3.00 rewards points per $1 spent with $0 annual fee and receive a $100 Gift Card, offer ends 31 October 2015.
    19.99% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($49 p.a. thereafter) 21.99% p.a. Go to site More info
    ANZ Frequent Flyer Black
    Earn up to 75,000 Qantas points when you meet the minimum spend requirement and no annual fee in the first year. Conditions and minimum spend apply.
    19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) 21.49% p.a. Go to site More info
    28 Degrees Platinum MasterCard
    No annual fee, up to 55 days interest free on purchases and no foreign transaction fees.
    20.99% p.a. $0 p.a. 20.99% p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    No annual fee credit card with $100 cashback and a long term low rate balance transfer offer of 0.9% p.a. for 15 months. Spend criteria applies for cashback offer.
    18.99% p.a. 0.9% p.a. for 15 months $0 p.a. 20.99% p.a. Go to site More info
    Citi Ready Credit - Fixed Payment Option
    A special introductory Fixed Payment Option from rate for months, plus no annual fee.
    *establishment fee of $99
    8.99% p.a. for 48 months (reverts to 19.49% p.a.) $0 p.a. 19.49% p.a. Go to site More info
    ANZ First Student Card Offer
    A great card for students, with a no annual fee offer for the first year.
    19.74% p.a. $0 p.a. annual fee for the first year ($30 p.a. thereafter) 21.49% p.a. Go to site More info
    Citi ReadyCredit
    A long term balance transfer offer of 6.9% p.a. for 36 months with no annual fee.
    19.49% p.a. 6.9% p.a. for 36 months $0 p.a. 19.49% p.a. Go to site More info

    What is a no annual fee credit card?

    A no annual fee credit card is a no annual fee credit card that waives this charge. Whilst this may seem like a no-brainer for the consumer, this type of credit card is not suitable for everyone. No annual fee credit cards can suit to those people who reserve the use of their credit card for emergencies, or who make regular purchases on them but always completely clear their balance each month – this is because it is often the case that the interest rate on purchases with no annual fee credit cards is on the higher side. Savings on the annual fee will be quickly negated by higher interest charges if the balance is not cleared in full each month. If you occasionally rack up interest, you’ll end up paying more on a no annual fee card than a regular low rate credit card with an annual fee.

    The no annual fee on credit cards can come in 2 forms:

    1. No annual fee for the first year - This is an offer that comes with some credit cards, where the annual fee is removed for the first year after application. It is important to be weary of the following years annual fee, are the features of the card worth the first years discount?
    2. No annual fee for life - This credit card comes with no annual fee for the entire time the credit card account remains active.

    Types of credit cards that don’t charge an annual fee

    1. No annual fee + balance transfer
    2. No annual fee + rewards
    3. No annual fee + frequent flyer
    4. No annual fee + no foreign transaction fees
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    1. No annual fee and balance transfer credit cards

    • Have a no-cost way of paying down your debt
    • These cards have no annual fees plus a balance transfer offer

    Why should you get one of these cards?

    1. Pay 0% p.a. interest on your debt – If you have existing credit, store or charge card debt, you can bring this debt over to a new card and pay 0% p.a. interest for an extended period of time. Some cards let you balance transfer personal loans and other credit accounts, too. Get in control of your repayments and pay down your debt without incurring interest.
    2. Don’t pay anything extra while you’re getting your debt under control - When it comes to paying off a debt you want to give yourself the best chance possible at paying it off, and that’s where keeping your costs low helps. With no annual fee, you won’t have any ongoing costs to maintain except for your repayments.
    3. After you pay back your debt, the card is a low-cost line of credit - A no annual fee card can offer you a convenient line of credit once your balance transfer if paid off. Check to see how competitive the standard rates on the card are to see if it will work for you as an ongoing way to spend.

    Compare no annual fee balance transfer cards

    Virgin No Annual Fee Credit Card

    Virgin Money Credit Card Offer

    Take advantage of a card with a no annual fee and 0.9% p.a. for 15 months balance transfer offer, plus a $100 cashback offer (spending criteria applies). Furthermore, you can enjoy up to 44 interest free days on purchases.

    • $0 p.a. annual fee
    • 18.99% p.a. on purchases
    • 0.9% p.a. for 15 months on balance transfers
    • Cash Advance Rate of 20.99% p.a.
    • Up to 44 days interest free
    • Minimum Income Requirement of $25,000 p.a.
    Rates last updated September 1st, 2015
    $
    % p.a.
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Saved
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to Platinum benefits including a personal concierge service and VISA Platinum reward program.
    19.99% p.a. 0% p.a. for 8 months $0 p.a. Go to site More info
    Coles No Annual Fee MasterCard
    Enjoy a low balance transfer offer and a no annual fee for the life of the card.
    19.99% p.a. 0% p.a. for 6 months $0 p.a. Go to site More info
    HSBC Credit Card
    No annual fee for life, plus a low balance transfer offer.
    17.99% p.a. 0% p.a. for 6 months $0 p.a. Go to site More info
    Westpac 55 Day Platinum Credit Card
    Get a balance transfer offer of 0% p.a. for 16 months, 55 interest-free days on purchases with $0 p.a. annual fee for the first year.
    19.84% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info
    American Express Velocity Escape Card
    Enjoy 7,500 bonus Velocity Points when you spend $300 within the first 3 months and up to 2.00 points for every dollar you spend, together with a $0 annual fee. Offer ends on 30 September 2015.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    American Express Qantas Discovery Card
    Enjoy up to 7,500 extra Qantas Frequent Flyer Points and a guarantee of 1.000 points on every dollar you spend with the card, plus 0.99% p.a. on balance transfers for 6 months, all for a 0% annual fee. Offer ends on 30 September 2015.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    Enjoy a balance transfer offer of 0.9% p.a. for 15 months.
    18.99% p.a. 0.9% p.a. for 15 months $0 p.a. Go to site More info
    ANZ Platinum Credit Card
    A low interest rate offer on balance transfers with a $0 annual fee for the first year.
    19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

    Learn more about and compare no annual fees balance transfer cards

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    2. No annual fee credit cards with rewards

    • Why not be rewarded — for nothing?
    • These cards have no annual fees plus the ability to earn rewards points

    The benefits are obvious, so what are the things you need to watch out for?

    1. What rewards program is it linked to? Does this program offer rewards that you’re interested in redeeming? For example, is it a travel-focused program but you don’t travel often? Does it require you to spend at certain places to earn points? Ensure you are familiar with the program so you opt into something you want to be a part of and will find benefits from.
    2. Is the earn rate competitive? The amount of money you have to spend to earn points will affect the ease at which you earn rewards, so ensure the earn rate compares well to other similar cards. You might find a dual account card, where you have two cards linked to the same account with two different earn rates, a good option as it allows you to tailor the way you spend and earn rewards.
    3. What other costs are associated with the card? There may be no annual fee, bu there is sure to be other costs associated with the card. Apart from the card’s standard rates, including purchase rate, balance transfer rate and cash advance rate, see if there are any other fees involved. These might be rewards program joining fees and other standard fees for late payments and the like.

    Comparison of no annual fee cards with rewards

    Coles No Annual Fee MasterCard

    Coles Credit Card Offer

    Coles No Annual Fee Mastercard offers a low introductory interest rate on purchases. Plus no annual fee and earn flybuys points everywhere you spend. Every 2,000 flybuys points earns you $10 off your Coles Supermarket shop.

    • $0 p.a. annual fee
    • 19.99% p.a. on purchases
    • 0% p.a. for 6 months on balance transfers
    • Cash Advance Rate of 19.99% p.a.
    • Up to 62 days interest free
    • Minimum Income Requirement of $15,000 p.a.
    Rates last updated September 1st, 2015
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Points per $ spent
    Coles No Annual Fee MasterCard
    A no annual fee credit card and receive flybuys points on everyday purchases.
    19.99% p.a. 0% p.a. for 6 months $0 p.a. VISA/MC: 0.5 AMEX: 0 Go to site More info
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to Platinum benefits including a personal concierge service and VISA Platinum reward program.
    19.99% p.a. 0% p.a. for 8 months $0 p.a. VISA/MC: 1 AMEX: 0 Go to site More info
    American Express Velocity Escape Card
    Enjoy 7,500 bonus Velocity Points when you spend $300 within the first 3 months and up to 2.00 points for every dollar you spend, together with a $0 annual fee. Offer ends on 30 September 2015.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. VISA/MC: 0 AMEX: 1 Go to site More info
    American Express Qantas Discovery Card
    Enjoy up to 7,500 extra Qantas Frequent Flyer Points and a guarantee of 1.000 points on every dollar you spend with the card, plus 0.99% p.a. on balance transfers for 6 months, all for a 0% annual fee. Offer ends on 30 September 2015.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. VISA/MC: 0 AMEX: 1 Go to site More info

    Learn more about no annual fee cards that can earn rewards points

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    3. No annual fee frequent flyer credit cards

    • Why not earn frequent flyer points and at the same time save on annual fees
    • These cards offer no annual fees while allowing you to earn frequent flyer points

    What features should you look for in a no annual fee frequent flyer card?

    1. Interest rates and other fees - Frequent flyer cards tend to come with less competitive rates than other standard credit cards, so ensure the rates aren’t too high when compared to other similar products. Also, while these are no annual fee products, other fees may be involved. Check to see if there are fees to join the rewards program or any other ongoing fees associated with the card or rewards account.
    2. Direct and indirect earn cards - Does your card allow you to directly earn frequent flyer points, or will your points be transferred from a standalone rewards program? Keep in mind that the latter may mean the transfer rate sees some of your rewards points lost, so check what the rate is and if the amount of points you earn and transfer are still competitive.
    3. Frequent flyer points - What is the earn rate on your card and is it easy to earn points? Does your card have a cap on the amount of points you’re able to earn and do your rewards points expire? Also, are you eligible for bonus points or a higher points earn rate when spending on certain products and services? These are things you need to be aware of.
    4. Extra features - Some of these cards offer you additional features, such as complimentary insurances, promotional rates on purchases balance transfers and even complimentary airport lounge passes. See what’s possible with these cards and how it can benefit you.

    Compare no annual fee frequent flyer cards

    American Express Qantas Discovery Card

    American Express Credit Card Offer

    The Qantas American Express Discovery Card is a credit card that allows you to earn Qantas Points with a $0 Annual Fee.

    • $0 p.a. annual fee
    • 20.74% p.a. on purchases
    • 0.99% p.a. for 6 months with 1% balance transfer fee on balance transfers
    • Up to 44 days interest free
    • Minimum Income Requirement of $35,000 p.a.
    Rates last updated September 1st, 2015
    Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Velocity Escape Card
    American Express Velocity Escape Card
    7,500 bonus points 0 1 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    American Express Qantas Discovery Card
    American Express Qantas Discovery Card
    7,500 bonus points 0 1 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    1 0 19.99% p.a. 0% p.a. for 8 months $0 p.a. Go to site More info
    ANZ Frequent Flyer
    ANZ Frequent Flyer
    25,000 bonus points 0.5 1 19.99% p.a. $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
    ANZ Rewards Platinum
    ANZ Rewards Platinum
    50,000 bonus points 1.5 3 18.79% p.a. $0 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
    ANZ Frequent Flyer Black
    ANZ Frequent Flyer Black
    75,000 bonus points 0.75 1.5 19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info

    Cards with no annual fees and allow you to earn frequent flyer points

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    4. No annual fee and no foreign transaction fee credit cards

    • How does a free line of credit for your world travels sound?
    • These are cards with no annual fees plus no foreign transaction fees

    What you need to know about these credit cards

    1. What foreign transaction fees might apply? There are a few fees that fall under the ‘foreign transaction fee’ umbrella, so you need to ensure all are $0 and 0% p.a. The fees you need to check are foreign currency conversion fees, which are the fees that are charged, normally represented as a percentage, that you’ll be charged when you make a purchase in another currency. Other fees include overseas ATM withdrawal fees and also overseas cash advance fees.
    2. What other features come with the card? Do you have any other features that you want from your credit card? Rewards points, travel insurance, purchase protection and other premium features can all be yours, depending on the card you choose.
    3. Is the card competitively priced? What will you be paying in interest when you don’t pay back your balance in full? Does the card offer any promotional rates for purchases or balance transfers? Look at how much the card will cost you to own — as a no annual fee product, it shouldn’t cost you much.

    A comparison of no annual fee cards with no foreign transaction fees

    Bankwest Zero Platinum MasterCard

    Bankwest Zero Platinum

    Bankwest Zero Platinum card to shop online or take this card on holiday with you, there are no international transaction charged when you make a purchase or cash withdrawal in a foreign currency.

    • $0 p.a. annual fee
    • 17.99% p.a. on purchases
    • 2.99% p.a. for 9 months on balance transfers
    • Cash Advance Rate of 21.99% p.a.
    • Up to 55 days interest free
    Rates last updated September 1st, 2015
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    Bankwest Zero Platinum MasterCard
    Complimentary travel insurance, 24/7 Concierge service. Plus no foreign transaction fees for online and overseas purchases.
    17.99% p.a. 2.99% p.a. for 9 months $0 p.a. 21.99% p.a. Go to site More info
    28 Degrees Platinum MasterCard
    This credit card offers no annual fee, no currency conversion fees and no international transaction fees.
    20.99% p.a. $0 p.a. 20.99% p.a. Go to site More info

    Learn more about and compare cards with no annual fees and no foreign transaction fees

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    Which is the best no annual fee credit card?

    ‘Best’ is much about which card will be the best fit for you. Credit cards are a bit like shoes. They aren’t one-size-fits-all products. There are some more or less suited to your needs and intended purpose. While some cards may have stronger particular features, such as lower purchase interest rates, longer 0% balance transfer periods and so forth, it is up to you to discover which combination of features — or lack thereof — works best for your financial needs.

    Before you apply, consider:

    1. No interest-free days - Any credit card which doesn’t have interest-free days is going to cost you in interest — irrespective of whether you pay your balance in full each month. As, on these cards, interest accrues from the day of each purchase. You’d save far more money by selecting a credit card with the usual 55 days interest-free.
    2. Carrying a balance - If you don’t pay your credit card balance in full each month, you don’t get interest-free days. That is why most cards will say, ‘up to 55 days interest-free’. Carrying a balance increases your exposure to the ways interest can be applied to your credit card usage.
    3. Thinking you’re earning the most possible rewards - No annual fee credit cards don’t earn as many rewards points per dollar spent as the best performers on the market, so if you are a rewards junkie you may be looking in the wrong place.

    Benefits and drawbacks of these cards

    Benefits

    • Save money on annual fees
    • Good for infrequent credit card users who repay their balance in full
    • Some still come with offers and rewards you’d expect to pay for

    Drawbacks

    • Higher ongoing interest rates
    • As with many credit cards, the late payment fees can be quite steep
    • Less features and rewards than paid equivalents
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    How do no annual fee credit cards work?

    No annual fee credit cards work on the basis of a trimmed-down rewards offering and higher rates on interest; in an attempt to cut down on costs and try to make up the income gap respectively. Essentially, no annual fee credit cards can save the financially prudent consumer some money. Where they bite back however is with higher interest rates and less attractive rewards programs. Essentially, a credit card without an annual fee is a basic credit card. Many credit cards carry high credit cards large annual fees, such as Platinum credit cards, which can cost as much as $900 a year. If you want to escape that fee madness, a no annual fee credit card can be a nice refuge.

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    How do you compare credit cards with no annual fee?

    • Annual fee - Check whether the absence of an annual fee is applicable for the first year or an ongoing deal.
    • Interest rate - When looking at the interest rate, check the purchase rate of interest and the cash advance rate of interest. Remember that too many interest will outweigh the benefits of having no annual fee anyway.
    • Interest-free days - Most credit cards come with a 55 days interest-free credit on purchases to help you save money. Remember that this usually applies when you’ve paid your balance in full every statement period.
    • Balance transfer rate offered - This is applicable to all new customers who are looking for a way to consolidate and pay off their existing credit card debt. The balance transfer rate and period offered can help you repay debt.
    • Purchase rate offered - A low or 0% purchase rate on your new credit card gives you the chance to save some money while still having an outstanding balance. This comes in handy when you need to make large purchases.
    • Late payment penalties - Check the penalties and fees that are charged in the case of any late or missed payments. It is also important to keep in mind that if you do not pay off your balance in full each month, your card ends up accruing more interest on the unpaid amount, which will cancel out the benefit of no annual fee.
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    Are annual fees important?

    When you are making a comparison between two credit cards, you will be looking for the difference in features they both offer, including their annual fees. Interest rates are a very important factor if you are planning on making any purchases or doing a balance transfer. In practice, annual fees are underrated as a factor and tend to be overlooked in favour of other card characteristics, such as rewards offerings. In our experience, an annual fee should be an integral factor which determines the suitability of a card. In the end, the suitability of a credit card should be determined on what gives the customer the most financial value at the lowest financial cost — which is why no annual fee credit card offers are compelling and worth considering.

    When they are important

    • If the only discernable difference between two suitable credit cards is the annual fee.
    • If the trade-off on interest rates and features still swings in the balance of a low annual fee.

    When they are not important

    • When you’ll save more money with another offer even after the annual fee.
    • If you know that no matter what the annual fee is, you’ll be able to get value above the annual fee in rewards points with another offer.
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    Keep in mind the reason why you chose to avoid an annual fee in the first place

    You should ask yourself: Are you planning on using a no annual fee credit card? namely, because you wanted to avoid all costs associated with your credit card. Customers who spend within their means to repay the balance in full each month will get the most value from no annual fee credit cards. If your financial personality is conservative and controlled with your money, these cards could suit.

    To help you decide if a no annual fee credit card is right for you, these are the best reasons for choosing one:

    1. Emergencies only - This is probably the best reason to go for a no annual fee credit card. If it is rarely or never going to be used over the course of the year because you prefer to use cash or debit cards, then you should avoid paying an annual fee on your credit card and it shouldn’t really bother you what else is or isn’t included.
    2. You clear your balance every month - This has been discussed at some length already. If you are not going to pay interest on an unpaid balance, then a higher interest rate is neither here nor there if it means you avoid paying an annual fee.
    3. You are debt-averse - If you are one of those people who simply will not let themselves fall into debt, then a no annual fee credit card may suit you very well. This does not mean you won’t spend on your card, or that you’re always in a financial position to pay off your bill in full each month; it just means that your attitude to debt is so anti that you will not risk the possibility of debt occurring and will choose to play it safe and keep your card in the dark rather than hand it over for a payment that might cause a problem.
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    FAQ about no annual fee credit cards

    Your most Frequently Asked Questions are answered below. If there are any questions you’d like answered, please leave a comment below or use our live chat service.

    No, not if you use a ‘no annual fee for life’ style of no annual fee credit card. Be aware however that some cards waive the annual fee for the first year only.

    One thing you’ll notice is that the interest rates on no annual fee credit cards are usually slightly higher than annual fee cards and the rewards programs are less generous. But, because you’ve not forked out any annual fee, you don’t have to play catch-up to come out on top of the deal.

    If you pay your balance in full each month and make no cash advance payments — you can readily come out on top, which isn’t always the case with many credit cards. Some rewards cards for example can require $20,000 of purchases to be made on the card before the value of rewards points equal the cost of the annual fee.

    With a no annual fee credit card, customers get a head start.

    No. Although there are often higher interest rates, these can be avoided by paying your balance in full each month. There are also the normal fees you’d expect with credit cards that can be costly, such as late payment fees.

    ‘The life of the card’ is for as long as the cardholder holds the original credit card account.

    Yes, this is what no annual fee credit cards are all about. They don’t charge you money if you don’t use the card which is perfect for infrequent credit card users.

    Yes. Some, but not all, no annual fee credit cards come with rewards points which can be used to redeem some exciting benefits such as flights, gifts, vouchers and shopping discounts.

    Yes, some cards offer this great money saving feature. Usually this cover is triggered by paying for part or all of the trip on your card. See your card’s terms and conditions for details.

    Yes, credit card security features come as standard according to the various similar schemes from Visa, MasterCard and American Express.

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    106 Responses to No Annual Fee Credit Cards

    1. Default Gravatar
      ILISAPECI | August 18, 2015

      how to apply

      • Staff
        Jonathan | August 18, 2015

        Hi Ilisapeci, thanks for your inquiry!

        When you have found a card that you would like to apply for just press the ‘Go to Site’ button and you will be redirected to a secure web-form from the respective bank.

        I hope this helps.

        Cheers,

        Jonathan

    2. Default Gravatar
      Dev | June 12, 2015

      Hello,

      I have a question regarding American Express Platinum Edge card.

      on this website it is mentioned that “No annual fee for the first year, a 10,000 bonus points offer and a complimentary return domestic flight every year” but on the american express card website there is no mention of annual fee getting waived off for the first year. Can you please confirm if the annual fee is waived off or not for the first year ?

    3. Default Gravatar
      Ray | June 4, 2015

      I require an auxiliary credit card to my primary card to use for online purchasing ( for event tickets etc). I require a ‘No Fee for Life’ credit card and only require a low credit limit (to $2,000 max)with monthly balance paid in full within one week of receipt of monthly statement . Do I need to have an account with the issuing bank (HSBC, BoQ, etc) to obtain a Credit Card. Could someone advise my best option.

      • Staff
        sally.mcmullen@hiveempire.com | June 5, 2015

        Hi Ray,

        Thank you for your question.

        As a finder.com.au is an online comparison service and are not aware of your unique financial situation, we can’t recommend one particular card for you.

        However, you may wish to visit our No Annual Fee Credit Cards page here to review some of your options. To compare low limit credit cards, you can use our Low Limit Credit Cards page.

        Depending on which provider you decide on, you may not need to an existing account but you will need to sign up to open a new credit card account.

        I hope this has answered your question.

        Thanks,

        Sally

    4. Default Gravatar
      bill | May 5, 2015

      I only use credit card for emergency and pay in full. I am looking for a no fee card for lifetime with travel insurance and overseas purchases included at no costs, thanks

      • Staff
        Jonathan | May 6, 2015

        Hi Bill, thanks for your inquiry!

        Please refer to the following link for a list of cards with free travel insurance, which will allow you to compare products based on overseas purchases and annual fee features.

        Cheers,

        Jonathan

    5. Default Gravatar
      cash | May 3, 2015

      I am not a frequent user of any type of credit card never ever had one in my life. So if I wanted to go for credit card I do not have any plan to use it but I wanted to keep as in safe for emergency only. So which credit card is better for me. I do not like to keep debt on cards, wanted to know either low interest rate is better or no fee cards ? Thanks

      • Default Gravatar
        Terry | July 23, 2015

        Can I exchange a Coles platinum card for a Coles no annual fee card?

      • Staff
        Jonathan | July 23, 2015

        Hi Terry, thanks for your inquiry!

        Switching between Coles credit cards can be requested by contacting the Coles MasterCard team. Please refer to the contact details I have sent to your email.

        Cheers,

        Jonathan

      • Staff
        Jonathan | May 4, 2015

        Hi Akashjoshi, thanks for your inquiry!

        The choice between low interest rate or no annual fee credit cards depends on the frequency of usage and type of transactions made on the card. If the usage on the credit card is lower/ minimal you may like to refer to no annual fee cards on this page and no annual fee cards on this page.

        Cheers,

        Jonathan

      • Default Gravatar
        cash | May 4, 2015

        Yes sure, cheers!

    6. Default Gravatar
      Terry | May 2, 2015

      Can I exchange my Coles platinum card for a no fees Coles card

      • Staff
        Jonathan | May 4, 2015

        Hi Terry, thanks for your inquiry!

        Exchanging credit cards can be requested by contacting the Coles MasterCard team. Please refer to the contact details I have sent to your email.

        Cheers,

        Jonathan

    7. Default Gravatar
      Ray | April 24, 2015

      Which cards, if any, offer free travel insurance?
      Thank you
      Best regards
      Ray.

    8. Default Gravatar
      loan | April 23, 2015

      Would i be able to borrow 9000 dollars please

      • Staff
        Jonathan | April 24, 2015

        Hi Loan, thanks for your inquiry!

        Cash advances/ withdrawals on credit cards are only supported up to your provided credit limit. You may like to refer to the following link for information on personal loans.

        Cheers,

        Jonathan

    9. Default Gravatar
      Jim | March 16, 2015

      Hi I’m looking for a no annual fee credit card that also dose not have pay pass or pay wave, these are the reasons I don’t have a credit card or carry a debit card. I don’t trust the system & don’t like the fact that its the consumers responsibility to police the transactions, but I going on holidays & need to hire a car hence the need for a credit card.

      Cheers Jim

      • Staff
        Jonathan | March 17, 2015

        Hi Jim, thanks for your inquiry!

        Please see the information I have provided to your email address.

        Cheers,

        Jonathan

    10. Default Gravatar
      hercules | February 19, 2015

      Hi
      I am looking for a visa card with no annual fees. I am on a centerlink disability pension around 980 per fortnight.
      I would be paying for my purchases in full,the bill arrives.
      I have around $20,000 in fixed term deposits. could I still
      qualify for a credit card. I think I like the sound of the hsbc
      card.

      thanks

      • Staff
        Jonathan | February 19, 2015

        Hi Hercules, thanks for your inquiry!

        For a list of lenders that accept Centrelink benefits as a form of income please see this page.

        Cheers,

        Jonathan

    Credit Cards Comparison

    Rates last updated September 1st, 2015
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    St.George Vertigo Platinum
    A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
    0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. 21.49% p.a. Go to site More info
    NAB Low Rate Credit Card
    Low ongoing interest rate on purchases and balance transfers.
    0% p.a. for 12 months (reverts to 13.99% p.a.) 4.99% p.a. for 6 months $59 p.a. 21.74% p.a. Go to site More info
    American Express Velocity Escape Card
    Enjoy 7,500 bonus Velocity Points when you spend $300 within the first 3 months and up to 2.00 points for every dollar you spend, together with a $0 annual fee. Offer ends on 30 September 2015.
    20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to Platinum benefits including a personal concierge service and VISA Platinum reward program.
    19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Go to site More info

    * The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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