No Annual Fee Credit Cards

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

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

HSBC Credit Card - No Annual Fee Offer

No Annual Fee Credit Card Offer

The HSBC Credit Card charges no annual fee for life2 and a balance transfer offer.

  • No annual fee2
  • 0% p.a. Balance Transfer for 6 months
  • 17.99% p.a. on purchases
  • Up to 55 days interest free on purchases3 when you pay the full balance (including any balance transfers and promotional purchases)
  • Minimum income requirement of $20,000 p.a.
  • Additional Cardholder at no extra cost.


    A credit card with no annual fee can give you more value for your spending and a convenient line of credit.

    Despite having numerous benefits and uses, credit cards come with various costs and expenses that can put a hole in your wallet. Some of these cost include the annual fee and interest rate charges on purchases. With this in mind, credit providers have come up with different ways to make their credit cards more appealing to their customers, including removing the annual fees charged on the cards. This helps the cardholder save money by cutting down on the card’s total costs.

    However, it’s important to check the other features that come with these types of cards as they might feature other hidden fees that could make the total cost of using such a card even higher. In some cases, a no annual fee credit card might charge higher interest rates and offer less attractive reward programs, compared to cards that might charge an annual membership fee.

    What is a no annual fee credit card?

    A no annual fee credit card is exactly as it suggests: whereas most credit cards charge an annual account fee, a no annual fee credit card 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 are best-suited 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, thus any 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.

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

    • 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 make sure that you do not take this deal if there are other credit cards that may have better features. Look at how the deal plays out in the long run.

    • No annual fee.

      This credit card comes with no annual fee for the entire time the credit card account remains active.

    • No annual fee special discount.

      This is a special offer that is linked to another product offered by the credit card or bank. These cards can be linked to home loans or a checking account, or can be accessed by upgrading to another product offered by your financial institution. The waiver of the annual fee may be for the first year or may become an ongoing deal.

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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.

    Features of these types of credit cards

    • Interest rate.

      Be mindful that some credit card providers may charge a higher interest rate to make up for the annual fee.

    • Reward program.

      Some of these credit cards may be linked to a rewards program, so you’re getting more value out of your purchases.

    • Balance transfer offer.

      Different credit cards will offer different balance transfer rates with varying transfer periods. Some cards come with 0% balance transfer interest rates while others come with low interest rates to help you repay your credit card debt faster.

    No Annual Fee Balance Transfer Credit Cards

    Pros and cons of no annual fee credit cards

    Pros of no annual fee credit cards

    • 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

    Cons of no annual fee credit cards

    • Higher ongoing interest rates

    • As with many credit cards, the late payment fees can be quite steep

    • Less features and rewards than paid equivalents

    The biggest mistakes you can avoid

    • 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.

    • 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.

    • 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.

    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.

    How to compare credit card don’t have an 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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    How important are annual fees?

    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.

    How to use a no annual fee credit card

    You should always keep in mind the reason why you chose to avoid an annual fee in the first place; 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:

    • 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.

    • 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.

    • 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.

    ‘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.

    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.

    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.

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    Ask a Question

    Disclaimer: At 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.
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    66 Responses to No Annual Fee Credit Cards

    1. Default Gravatar
      gayle | October 20, 2014

      Can I apply even if i have been declared bankrupt 5 years ago?

      • Staff
        Elizabeth | October 21, 2014

        Hi Gayle,

        Thanks for your question.

        Unfortunately, I’m unaware of any credit card providers who would approve you while you still have a bankruptcy listed on your credit file.

        Hope this has helped.



    2. Default Gravatar
      Anna | September 23, 2014

      I’m currently a HSBC platinum visa card holder for over 10 years, realise that new customer will have a benefit of no annual fees for life, is it worthwhile for me to cancel my current card and reapply a new one to take advantage of this offer?

      • Staff
        Shirley | September 26, 2014

        Hi Anna,

        Thanks for your question.

        Unfortunately that offer is only available for new customers, that is, those who have never held a HSBC Platinum Visa card before.

        If you’d like, you may want to consider switching to another credit card provider to take advantage of a no annual fee offer.


    3. Default Gravatar
      sharon | September 17, 2014

      I have a home loan with Peppers do Peppers provide credit card applications online for customers?

      • Staff
        Shirley | September 17, 2014

        Hi Sharon,

        Thanks for your question.

        Unfortunately Pepper only offers home loans at this current point in time.


    4. Default Gravatar
      tim | September 4, 2014

      is it ok to
      have a post office box
      for mail c0s that is all
      I have

      • Staff
        Shirley | September 5, 2014

        Hi Tim,

        Thanks for your question.

        In most cases you need an Australian residential address. I’d recommend that you get in touch with a few credit card providers to see if they’ll accept your application if you only have a PO box.


    5. Default Gravatar
      David | May 19, 2014

      Can I search for, or can you give a link to joint card providers (for me and my wife)

    6. Default Gravatar
      | May 15, 2014

      Pls explain this
      “You will soon enjoy the benefits of up to 55 days interest free, saving $30.00 in your first year with your annual fee being waived, whilst enjoying the great convenience of your credit card being accepted at over 32 million locations worldwide.””

      It is correct if i will pay annual fee $30.00 year after when using card 55day visa card Westpac now

      This 55day card not free annual fee?????
      It s only for first year..,,, free????

      • Staff
        Shirley | May 16, 2014

        Hi Danny,

        Thanks for your question.

        For the Westpac 55 Day credit card, there is a $0 annual fee for the life of the card when you apply between 1 April 2014 – 22 June 2014, and you’ll get up to 55 days interest free on purchases when you pay the closing balance in full by the due date shown on your statement.


    7. Default Gravatar
      alana | January 29, 2014

      What credit card would be best for someone with bad credit

      • Staff
        Shirley | January 30, 2014

        Hi Alana,

        Thanks for your comment.

        Credit cards are generally designed for people who have good credit. Please have a read of our bad credit rating credit cards page for more information.

        You may want to have a look at some low rate credit cards, but remember to check the eligibility criteria before you apply as some do require a good credit rating.


    8. Default Gravatar
      Ashley | January 15, 2014

      Hi I was just wondering if you could help with my question about nonprofit organisations, how do we go about creating a business account for not-for-profit? Will the account be based approved based on the business plan or based on credit history? Are overdrafted debit cards and credit cards available?

      • Staff
        Jacob | January 15, 2014

        Hi, Ashley.

        Thanks for your question.

        If you’re looking to set up a credit account for a not-for-profit organisation, you will need to register your organisation with the bank and open an everyday transaction account for your organisation first. You will need to provide ASIC registration forms and your ABN to the people in-branch first. Once you’ve opened this account, the bank can look at providing you credit. Acceptance will depend on the size of the credit limit, the number of signatories on the account, whether you and your employers are working outside the NFP organisation and how many people are going to co-sign on the account.

        I hope this helps.

    9. Default Gravatar
      Greg | January 6, 2014

      How much can a person who already has an adult concession card save by going to Hoyts Eastland on Super Tuesday? It’s about $16.00 today. How much would it cost me tomorrow?

      • Staff
        Jacob | January 6, 2014

        Hi, Greg.

        Super Tuesday is great.

        Unfortunately, I can’t give you a definitive answer as ticket price depends on the movie you’re seeing and what type of session you’re attending (super screen, 3D etc.). Please have a look at the Hoyts website for information about ticket prices.

        Thanks for getting in touch with us.

    10. Default Gravatar
      Peter | October 29, 2013


      I have had a “no annual fee credit card” since the 90′s with the Commonwealth Bank. They have sent a letter to inform myself that an annual fee will apply from early next year. I rang and questioned the advice and was told that this is just a change they have decided to make.
      Should I pursue this further or not waste my time?


      • Staff
        Jacob | October 30, 2013

        Hi Peter.

        Often, the terms and conditions of the product will include a clause that goes something along the lines of the lender reserves the right to make a change to the product as long as they give you notice. If you’re frustrated with the change to the product, vote with your feet. You can compare no annual fee credit cards on this page.

        Thanks for your question.

    11. Default Gravatar
      Jennifer | October 20, 2013

      Why do I get emails saying. No credit check credit cards? They all have credit check this is a false advertisement and needs to be removed.

      • Staff
        Jacob | October 21, 2013

        Hi Jennifer.

        Thanks for your comments. Can you please let us know a little more about the advertisement. Your credit file will be accessed by the lender when you apply for credit.

    12. Default Gravatar
      leo | September 21, 2013

      Hi. Can u please tell me what is the best balance transfer card I can get which has Qantas frequent flyer points, thanks.

    13. Default Gravatar
      Brett | September 6, 2013

      Is there a way to search for the min limits. Only looking for a small limit card for an emergency

      • Staff
        Jacob | September 6, 2013

        Hi Brett.

        Thanks for your question.

        You can find information about minimum credit limits on the fees table at the bottom of each card’s review page.

        Generally speaking, $500 is the minimum credit limit you can get when you apply for a card – this type of credit limit is usually offered with low rate credit cards, which you can compare on this page, and no annual fee credit cards – compared on this page.


    14. Default Gravatar
      carol | August 8, 2013

      what is a commonwealth bank key card?

      • Staff
        Shirley | August 9, 2013

        Hi Carol,

        Thanks for your question.

        Essentially it is a debit card linked with your CBA account. You can learn more about debit cards here.


    15. Default Gravatar
      Doug | July 12, 2013

      Can you recommend a low fee credit card where I can have two supplementary cards, as most only appear to have one?

      • Staff
        Jacob | July 12, 2013

        Hi Doug. Thanks for your question. Most credit cards will allow you to have an additional or supplementary cardholder. You see whether a card will allow you to have an additional cardholder by looking in the fees and charges table at the bottom of each card’s review page. It will list the number of cards you can have on the account and the charge for each. I hope this has helped. Jacob.

      • Default Gravatar
        Phil | July 23, 2013

        What credit card has the lowest combined annual fee and interest rate, and allows two cards. At the moment my wife and myself have ANZ VISA two cards on the one account. We are “deadheads” who never have to pay interest and want to also have no annual fee. Can you advise us please?

      • Staff
        Jacob | July 23, 2013

        Hi Phil. Thanks for your question. The best way to find the type of card you’re looking for is to have a look at our no annual fee credit card comparison page. Once you’re on that page, please click on the button in the table that says ‘interest rate’. When you do this it will order the cards from lowest purchase rate to highest purchase rate. You can then use the check boxes next to the cards name to select the cards you want to compare. Click compare either at the bottom or top of the table for a direct comparison between the cards you have selected. I hope this helps. Jacob.

    16. Default Gravatar
      Mshslingsm | June 16, 2013

      I want to open SB Account in your bank. Is there any bank charge for maintaining my SB Account in your Bank. I am a citizen of India now living at my son’s house in Perth. Thanks.

      • Staff
        Jacob | June 17, 2013

        HI Mshslingsm. Thanks for your question. I’m going to need some more information to get to the bottom of this question. Can you please clarify which institution you would like to open an account with, and also can you please explain who / what SB is? Thanks. Jacob.

    17. Default Gravatar
      Marion | June 15, 2013

      Does Asda charge an annual fee on credit cards?

      • Staff
        Jacob | June 16, 2013

        Hi Marlon. Aren’t ASDA a European provider? Our site deals with credit cards for permanent Australian residents and people visiting on a long stay visa. Jacob.

    18. Default Gravatar
      Wendy | June 13, 2013

      I currently have 3 credit cards and one flexi loan. I would like to put them all onto one so I just make one payment do not want to loose credit card though but only have one.

      • Staff
        Jacob | June 13, 2013

        Hi Wendy. Thanks for your question. If you’re looking to consolidate the loan with the credit cards your options become somewhat limited. With the exception of Citibank and Virgin Credit Cards, no provider will allow you to transfer the balance from a loan / mortgage to a credit card. Citibank and Virgin allow you to consolidate the balance of a line of credit or a personal loan on to a credit card, so you may want to check with them. Alternatively, most providers will allow you to capitalise the balance of a credit card on to a loan / mortgage – one thing to consider when you do this: will capitalising a debt on to a loan actually end up costing you more with an extended loan term? I hope this has helped. Let us know if more information is required. Jacob.

    19. Default Gravatar
      Ray | June 5, 2013

      What does balance tranfer mean?

      • Staff
        Jacob | June 5, 2013

        Hi Ray. Thanks for your question. Please watch the video half way down this page for information on balance transfers. Fred explains the basic principles of a balance transfer and what to look out for. Jacob.

    20. Default Gravatar
      Mary | May 15, 2013

      I’m retired and on the pension and have assets in excess of $500k and access to at least $40k in cash. I want to apply for your credit card but don’t want to waste my time or yours if I don’t meet the requirement.

      • Staff
        Jacob | May 15, 2013

        HI Mary. Thanks for your question. If you’re looking to apply for a card, please refer to each card’s review and application page for a list of the minimum eligibility requirements. I can help you with your decision if you can provide the name(s) of a card(s) you’re interested in applying for. Jacob.

    21. Default Gravatar
      Hilton | May 9, 2013

      Hi. We are being asked to “upgrade” from Westpac Earth Platinum to Earth Black: MasterCard and American Express. Earth Platinum points are capped and 0.5 pts per $1, and will go to 0.625 and 1.5 for the AMEX.
      Earth Black annual fee is $395 and is waived whilst home loan package is current. We spend approx 2000 per month on our cards.
      Should we upgrade?

      • Staff
        Jacob | May 10, 2013

        Hi Hilton. You will have to make this decision for yourself; however, the fact that the annual fee is waived is a big bonus. There are some additional benefits to the Black Card, you can read the review here. If you were to stay with your current card and keep you current monthly spend at approx. $2,000, you would be unaffected by the points cap of 3,750 Qantas Frequent Flyer points per statement cycle, which is one of the main reasons why people are taking up this offer. Jacob.

    22. Default Gravatar
      Dave | May 6, 2013

      Im thinking of moving my $3000 debit on my current commonwealth credit card to another credit card so i have longer to pay it off. What would be the charge for moving this to the hsbc card (that has no annual charge)?

      • Staff
        Jacob | May 6, 2013

        Hi Dave. Thanks for your question. Currently, there is no fee for processing a balance transfer. The only charges you will pay are the card’s annual fee and balance transfer promotional rate of interest (if applicable). Jacob.

    23. Default Gravatar
      Ray | May 2, 2013

      HSBC Card. Why does it show 17.99% on purchases then further down the list it advises Interest Free for up to 55 days??

      • Staff
        Jacob | May 2, 2013

        Hi Ray. Thanks for your question. Interest free days are applied to all purchases provided that you’re not carrying a balance from month to month, this includes a balance transfer amount and a purchases and cash advances that you have not paid from the previous statement period too. If you’re carrying a balance, then the standard rate for purchases will apply from the day you use your card to make a purchase. If you’re wondering about how interest free days work, please check this page. It has a video and an explanation of how it all works. If you still have questions, be sure to ask! Jacob.

    24. Default Gravatar
      carole | April 26, 2013

      Apparently I need to have a credit card to hire a car. They take an imprint of the card even although you’ve paid for the hire. I’d like a no interest card because I only want to use it for this type of thing on occasions. Can you be charged on an imprint only, when you are on holidays?

      • Staff
        Jacob | April 27, 2013

        Hi Carole. Thanks for your question. If they take an imprint of your card it is most likely that they’re just taking it in case they need to charge you for damage to car etc. You should speak to the merchant directly about this, if they plan to charge you, they will tell you. About the no interest credit cards, please check our no interest purchase cards comparison page. These cards have an interest free promotion when you first activate the card. Jacob.

    25. Default Gravatar
      Roslyn | April 20, 2013

      Hi, Hubby and I have a credit card with Aussie. The Aussie card payment can only be paid by Bpay or direct debit as they are not linked with a bank – as I missed a payment recently they have hit me with a “late payment fee” and an “overlimit fee” as the annual fee was also debited which pushed the account over the limit. All up there were two fees of $25.00 each and the annual fee of $50.00 on the one statement – is this fair and can Aussie do this?

      • Staff
        Jacob | April 21, 2013

        Hi Roslyn. You shouldn’t be charged an over limit fee with this card, there is however, a late payment fee applicable. The annual fee is charged to the first statement period and will accrue the purchase rate of interest if it isn’t paid in the first statement period. Please speak to an Aussie Credit Card customer service agent to find out more about this. Jacob.

    26. Default Gravatar
      Molly | April 12, 2013

      what credit card has the most days interest free? I can only see 55. Is there a 6month int free card?

      • Staff
        Jacob | April 13, 2013

        Hi Molly. There are 0% Purchase Cards with a no interest period on purchases when you first activate the card. If you get one of these cards, you’re not going to get charged extra by the bank when you use the card to make purchases for a set period. After this term is over. You get up to 55 days interest free (which is the longest period offered currently [excluding the GE Visa Card, which currently gives you 6 months interest free for purchases over $250.]). See this page for an explanation on how to manage your account to maximise interest free days. Jacob.

    27. Default Gravatar
      marie | April 7, 2013

      hi I’m looking for a card that will never charge an annual fee ever or interest or charge a fee if you don’t use the card i only want it for a back up but i don’t want to get charged if i don’t use the card as i am going to Australia August / September. Is there an all in one credit card that will do that without any hidden extras and also with a low credit limit for a fair credit rating with out extra hidden charges i seen so many credit cards but I am so confused as to which is the best overall card that wont ever charge of i don’t use it any ideas thanks.

      • Staff
        Jacob | April 7, 2013

        Hi Marie. Thanks for your question. Our no annual fee credit card comparison page is the place to start your search. These cards, as you described, don’t charge an annual fee for the life of the card – no catches. If you pay the balance of the card in full each month, you will receive interest free days on your purchases, and you won’t rack up any additional charges. If you don’t use the card at all – it’s not going to cost you anything to keep. There are no charges for closing a credit card account provided you’ve paid the entire balance prior to closing. Jacob.

    28. Default Gravatar
      Catherine | April 5, 2013

      I’d love to change cards – but have a mortage tired up with the card ..? can I get around this?

      • Staff
        Jacob | April 5, 2013

        Hi Catherine. Interesting question. Can you please elaborate? One way to get around this is to refinance your mortgage; however, this can be seen as a little drastic. You should be able to transfer the debt to another card, but if the outstanding balance is large, you may not be approved for the credit limit to cover the debt. With a little more information we should be to help you come to a solution. Jacob.

    29. Default Gravatar
      John | April 4, 2013

      I have a citi bank visa gold card with a $25000. credit and is payed in full each month and affords me travel insurance should i change to a no annual fee card and which one.
      thanks John bull

      • Staff
        Jacob | April 4, 2013

        Hi John. You will have to make that decision for yourself. Here’s the no annual fee credit card comparison page. This lists the cards with no annual fee. Check the product table of each product to see if the card offers complimentary international travel insurance. Thanks for the question. Jacob.

    30. Default Gravatar
      john | April 3, 2013

      What do you mean by “life of the card”? relating to no annual fee. Is it until this card expires, or until the account is closed?

      • Staff
        Jacob | April 3, 2013

        Hi John. Great question. This term refers to the life of the account – until it’s closed. Jacob.

    31. Default Gravatar
      Graham | April 2, 2013

      I know its great to get points, but the cost of purchases, if you look at 1 point = $1. Is it really worth it?

      • Staff
        Jacob | April 2, 2013

        Hi Grahame. Good observation. We tell everyone who asks that the net value of rewards cards must outweigh the card’s annual fee in order for it to be a cost effective product. If you’re not spending upwards of tens of thousands of dollars a year on your card, this is often not the case. Jacob.

    32. Default Gravatar
      Ken | March 4, 2013

      Looking for a visa card that has no annual fee and does not charge for overseas transactions or purchases on credit.

      • Staff
        Marc | March 6, 2013

        Hello Ken,
        thanks for the question!

        There are a number of cards which don’t charge for transactions overseas. This page lists the typical fees you may pay while using your credit card overseas, as well as some of the credit cards which don’t charge foreign currency conversion fees.

        I hope this helps.

    Credit Cards Comparison

    Rates last updated November 27th, 2014
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    ANZ Low Rate
    ANZ Low Rate
    A low rate on purchases, balance transfer and a low annual fee. 13.49% p.a. 0% p.a. for 16 months $58 p.a. 21.74% p.a. Go to site More info
    Citi Simplicity Card
    Citi Simplicity Card
    $0 annual fee credit card with a long term balance transfer offer. 19.99% p.a. 0% p.a. for 12 months $0 p.a. 19.99% 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
    Westpac Low Rate Card
    Westpac Low Rate Card
    A low interest rate credit card with a low annual fee and balance transfer offer. 12.49% p.a. 0% p.a. for 14 months $45 p.a. 21.49% p.a. Go to site More info
    American Express Qantas Discovery Card
    American Express Qantas Discovery Card
    Receive 7500 Qantas Points and pay no annual fee ever. Plus earn 1 Qantas Point per $1 spent on all your everyday purchases. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info

    * The credit card offers compared on this page are chosen from a range of credit cards 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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