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.

What you can do on this page


HSBC Platinum Credit Card - No Annual Fee Offer

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 April 1st, 2015
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    HSBC Platinum Credit Card
    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
    Virgin No Annual Fee Credit Card
    Virgin No Annual Fee Credit Card
    A no annual fee card with long term balance transfer offer. 18.99% p.a. 0% p.a. for 14 months $0 p.a. 20.99% p.a. Go to site More info
    Westpac 55 Day Platinum Card - Exclusive Offer
    Westpac 55 Day Platinum Card - Exclusive Offer
    Exclusive Offer to finder.com.au
    No annual fee for the first year (and subsequent years) if you spend over $10,000 per annum. Platinum benefits including a platinum concierge service, overseas travel insurance, extended warranty cover and purchase security cover.
    0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($90 p.a. thereafter) 21.29% p.a. Go to site More info
    Citi Simplicity Card
    Citi Simplicity Card
    No annual fee with a long term balance transfer offer together with complimentary purchase insurance and Citibank Dining Program. 19.99% p.a. 0% p.a. for 12 months $0 p.a. 19.99% p.a. Go to site More info
    American Express Qantas Discovery Card
    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
    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
    American Express Low Rate Credit Card
    American Express Low Rate Credit Card
    Enjoy a low interest rate AMEX credit card, with a no annual card fee plus a balance transfer offer. 11.99% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    American Express Velocity Escape Card
    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
    American Express Platinum Edge Credit Card
    American Express Platinum Edge Credit Card
    No annual fee for the first year, a 10,000 bonus points offer and a complimentary return domestic flight every year. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $195 p.a. Go to site More info
    ANZ Platinum Credit Card
    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
    Bankwest Zero Platinum MasterCard
    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
    Westpac 55 Day Credit Card - Exclusive Offer
    Westpac 55 Day Credit Card - Exclusive Offer
    Exclusive Offer to finder.com.au
    A low interest rate offer on balance transfers with $30 p.a. annual fee.
    0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($30 p.a. thereafter) 21.29% p.a. Go to site More info
    Woolworths Money Everyday Platinum Credit Card
    Woolworths Money Everyday Platinum Credit Card
    Earn up to 3.00 rewards points per $1 spend with uncapped earning potential. 19.99% p.a. 0% p.a. for 9 months $0 p.a. annual fee for the first year ($49 p.a. thereafter) 21.99% p.a. Go to site More info
    28 Degrees Platinum MasterCard
    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
    Citibank Ready Credit - Fixed Payment Option
    Citibank 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
    Citibank ReadyCredit
    Citibank ReadyCredit
    A long term balance transfer offer of 5.9% p.a. for 24 months with no annual fee. 19.49% p.a. 5.9% p.a. for 24 months $0 p.a. 19.49% p.a. Go to site More info
    ANZ First Student Card Offer
    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


    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

    Back to top

    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% p.a. for 14 months balance transfer offer. Furthermore, you can enjoy up to 44 interest free days on purchases.

    • $0 p.a. annual fee
    • 18.99% p.a. on purchases
    • 0% p.a. for 14 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 April 1st, 2015

    $
    % p.a.
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual
    fee
    Interest
    saved
    Virgin No Annual Fee Credit Card
    Virgin No Annual Fee Credit Card
    Take advantage of the 0% p.a. for 14 months balance transfer offer 18.99% p.a. 0% p.a. for 14 months $0 p.a. Go to site More info
    Citi Simplicity Card
    Citi Simplicity Card
    Get low balance transfer offer and no annual fee plus enjoy free bottles of wine from Citibank Dining Program. 19.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to prestige services 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
    American Express Qantas Discovery Card
    American Express Qantas Discovery Card
    A no annual fee frequent flyer credit card from American Express. Earn 1.000 Qantas Points 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
    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
    American Express Velocity Escape Card
    American Express Velocity Escape Card
    Receive 7,500 Velocity bonus points when you spend $300 in the first 3 months. Plus $0 annual fee. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
    ANZ Platinum Credit Card
    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
    Westpac 55 Day Platinum Card - Exclusive Offer
    Westpac 55 Day Platinum Card - Exclusive Offer
    Exclusive Offer to finder.com.au
    No annual fee for the first year (and subsequent years) if you spend over $10,000 per annum. Platinum benefits including a platinum concierge service, overseas travel insurance, extended warranty cover and purchase security cover.
    0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info
    Westpac 55 Day Credit Card - Exclusive Offer
    Westpac 55 Day Credit Card - Exclusive Offer
    Exclusive Offer to finder.com.au
    A low interest rate offer on balance transfers with $30 p.a. annual fee.
    0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($30 p.a. thereafter) Go to site More info

    Learn more about and compare no annual fees balance transfer cards

    Back to top

    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: Exclusive offer to finder.com.au

    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
    • 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 April 1st, 2015
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Points per $ spent
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to prestige services 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
    American Express Velocity Escape Card
    Receive 7,500 Velocity bonus points when you spend $300 in the first 3 months. Plus $0 annual fee. 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
    American Express Qantas Discovery Card
    A no annual fee frequent flyer credit card from American Express. Earn 1.000 Qantas Points per $1 spend. 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

    Back to top

    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 April 1st, 2015
    Bonus Points Visa / MasterCard points per $ spent Amex points per $ spent Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee
    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
    American Express Qantas Discovery Card - Frequent Flyer Offer
    American Express Qantas Discovery Card - Frequent Flyer Offer
    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 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
    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
    Westpac Altitude Business Gold Credit Card
    Westpac Altitude Business Gold Credit Card
    1 2 0% p.a. for 12 months (reverts to 20.24% p.a.) $0 p.a. annual fee for the first year ($150 p.a. thereafter) Go to site More info

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

    Back to top

    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 April 1st, 2015
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    Bankwest Zero Platinum MasterCard
    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
    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

    Back to top

    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

    Back to top

    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.

    Back to top

    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.

    Back to top

    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.

    Back to top

    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.

    Back to top

    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.

    Back to top

    Was this content helpful to you? No  Yes

    Read more on this topic

    • No Fee Credit Cards

      Looking for a credit card that’s low on fees and charges? Our comparison covers credit cards with no annual fee and no foreign transaction fees, no annual fee rewards cards, no annual fee no rewards joining fee cards and no annual fee no additional cardholder fee credit cards.

    • No Annual Fee Credit Cards with No Foreign Transaction Fees

      If you enjoy online shopping on international websites or if you’re a frequent traveller, then you may already know that a credit card with no foreign transaction fees can save you money. But if you’re a regular credit card comparer, you may have noticed that these type of credit cards usually come with an annual […]

    • Under $50 Low Annual Fee Credit Cards

      A low-fee credit card can be very beneficial for people who use their card for occasional purchases, or trying to pay off debt. Such a card would be ideal for emergency use or infrequent spending due to the high interest rates charged on purchases. Different low-fee cards charge varying annual fees, with some charging no ongoing fees for limited periods. Comparing low-fee cards can help you choose the one that suits your spending trends. This guide will help you understand how low fee credit cards work so that you can apply for the best one for you today.

    • $0 Annual Fee For The First Year – No Fees First Year Credit Card Comparison

      $0 Annual Fee For The First Year – No Fees First Year Credit Card Comparison

    • No Annual Fee 0% Balance Transfer Credit Card

      If saving money on credit card balances is at the forefront of your mind, then you need to know about the no annual fee balance transfer credit card offers available to you!

    • No Annual Fee Credit Card with Rewards

      There are a vast range of different credit cards that offer reward schemes. However, is there such a thing as a no annual fee credit card with rewards? Does it exist, or are we just dreaming?

    • No Annual Fee Visa

      No annual fee credit cards are a great way to help you save money on the cost of owning a credit card. Virgin Money has a new no annual fee card to help you do just that.

    • No Annual Fee Credit Card Comparison Chart

      One way to choose between credit cards is to make a card comparison chart. This credit card chart consists of just your top choices for cards and the features that matter to you. Once you can see them in this form it will be much simpler to pick the right card for your budget.

    • 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?

    • 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.



    Ask a Question

    Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
    Rates and fees mentioned in comments are correct at the time of publication.
    By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

    88 Responses to No Annual Fee Credit Cards

    1. 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

    2. 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

    3. Default Gravatar
      CP | February 16, 2015

      I want a card that earns QFF points, must have Master / Visa option (Can’t have Amex only) nil to low annual fee, and a fat bonus offer of points. What can you recommend?

      • Staff
        Jonathan | February 17, 2015

        Hi CP, thanks for your inquiry!

        Please see our page on Qantas Frequent Flyer Cards on this page. On our page you can compare cards on the attributes of bonus points, points per $ spent, interest rates and annual fees.

        Cheers,

        Jonathan

    4. Default Gravatar
      Ram | February 12, 2015

      i need cards with a long term interest free credit

      • Staff
        Jonathan | February 12, 2015

        Hi Ram, thanks for your inquiry!

        For more information on 0% Purchase Credit Cards please see this page.

        Cheers,

        Jonathan

    5. Default Gravatar
      hello | February 9, 2015

      we have a income of less than 800 a month . we need 1000 for a emergency. we like a card to be able to pay back monthly. is there a card out there for this. no pay day loan traps for us. just a card we can payoff over a few months . and then use it again at the end of the year.

    6. Default Gravatar
      Twiss | February 4, 2015

      Is there a no annual fee credit card that will bill me by email?
      I am planning to do the big lap and will not have an address for however long it takes
      Cheers

      .

      • Staff
        Jonathan | February 5, 2015

        Hi Twiss, thanks for your inquiry!

        Most lenders have email as a standard option for billing, for a list of No Annual Fee cards please see this page.

        Cheers,

        Jonathan

    7. Default Gravatar
      Frank | January 13, 2015

      The Cruise company we are using will not accept Debit cards or Travel cards. This means we will need to have a credit card. We will only use this card for payments where Debit or Travel cards are not accepted. Would a no fee card be a good prospect? Which card would be best?

      • Staff
        Jonathan | January 14, 2015

        Hi Frank,

        Thanks for your question,

        Travel Credit cards can provide useful benefits to a desired destination, with various features such as waived foreign transaction fees, travel insurance, purchase security insurance and rewards programs to name a few.
        Please see this page for more information regarding Overseas Travel Credit Cards.

        I hope this helps!

        Cheers,

        Jonathan

    8. Default Gravatar
      Anastasia | January 4, 2015

      I have just had a near miss and fright with a potential scam and would like to find a fee-free credit card that has a good reputation ( and processes in place ) for looking after clients that have had a problem and refunding after scams.

      • Staff
        Elizabeth | January 5, 2015

        Hi Anastasia,

        Thanks for your question.

        You can compare cards that charge no annual fee on this page. In terms of your other concerns, most card providers have some sort of protective features in place to protect you from fraudulent transactions and to protect you while making purchases online and in-store. You can check on these features on our individual review pages, but you can also read up on these features on this page.

        I hope this has helped.

        Thanks,

        Elizabeth

    9. Default Gravatar
      | January 3, 2015

      Hi sir

      First question Can you tell me which bank credit card will have all three below benefit with 0 % or up to 1% balance transfer for at least 12 months, at least no annual fee for first year and 0% for purchase at least for first year?

      Second question

      Can you tell me which bank credit card will have 0 % or up to 1% balance transfer for at least 12 months and 0% for purchase at least for first year?

      Please don,t ask me to look at your website page by page as I try already to look at every pages

      Thanks for your help

      Peter

      • Staff
        Elizabeth | January 5, 2015

        Hi Peter,

        Thanks for your question.

        Unfortunately there’s no credit card we currently have available on finder.com.au that has a purchase rate offer, balance transfer rate offer and no annual fee. You won’t have to look at the site page by page to find what you’re looking for: this page shows the credit cards available through our site that offer 0% p.a. on balance transfers and 0% p.a. on purchases. As you can see, only the Citibank Rewards Platinum card offers the length of interest-free period you’re after.

        I hope this has helped.

        Thanks,

        Elizabeth

    10. Default Gravatar
      Lyn | December 22, 2014

      Wanting a credit card with no annual fee & with frequent flyer points

      • Staff
        Elizabeth | December 22, 2014

        Hi Lyn,

        Thanks for your question.

        You can compare no annual fee credit cards that are linked to frequent flyer programs on this page.

        I hope this has helped.

        Thanks,

        Elizabeth

    Credit Cards Comparison

    Rates last updated April 1st, 2015
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    St.George Vertigo Visa
    St.George Vertigo Visa
    A low annual fee and low interest rate offer on balance transfers. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
    Citibank Rewards Credit Card - Platinum Card
    Citibank Rewards Credit Card - Platinum Card
    Consolidate your debt with a low balance transfer and a long purchase rate offer plus a host of platinum privileges. Earn up to 1.250 Citibank Reward points for every $1 spend. 20.99% p.a. 0% p.a. for 24 months $199 p.a. 21.74% p.a. Go to site More info
    St.George Vertigo Platinum
    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
    Virgin No Annual Fee Credit Card
    Virgin No Annual Fee Credit Card
    Take advantage of the 0% p.a. for 14 months balance transfer offer 18.99% p.a. 0% p.a. for 14 months $0 p.a. 20.99% p.a. Go to site More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to prestige services 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.

    Ask a question
    feedback