Australians spend hundreds of dollars on credit card fees every year with individual card costs ranging from $30 up to $300 or more.
These costs can make an otherwise good credit card feel like a weight in your wallet, especially if there is a balance and interest rates to worry about.
But in a lot of cases the annual fee corresponds with how many features and extras a card is carrying, and many of the cards with no annual fee can seem bland compared to other options.
There is a compromise, however, in the form of cards with low annual fees and here is a look at four of the best cards for under $100.
American Express Gold Ascent
Credit cards from American Express have a reputation for great rewards and benefits but higher costs due to annual fees and interest rates.
The Gold Ascent, however, challenges this assumption with no annual fee for the life of the card, enrolment in the competitive Membership Rewards program and one point for every $2 spent.
Bank of Melbourne Vertigo
Bank of Melbourne is a newer bank on the block but it is sending out competitive card offers, like the 12-month 0.99% p.a. balance transfer deal available for the Vertigo credit card.
This card also comes with a low ongoing purchase rate of 13.24% p.a. and an annual fee of $55 that also helps keep balances in check.
Suncorp Standard Visa
The Standard Visa from Suncorp Bank offers a good combination of low rates and a low fee for people who want to save as much as possible on credit card costs.
The ongoing purchase rate for this card is currently a competitive 12.74% p.a. and the standard annual fee is $54, which is halved for the life of the card if people sign up before January 31, 2012.
Virgin Flyer Credit Card
Most frequent flyer credit cards with a decent rate for earning points come with annual fees of $100 or more but Virgin’s Flyer comes in just under at $99.
Cardholders earn one Velocity point for every $1 spent on the card and get up to four complimentary seats a year on Virgin flights.
Cutting down on non-essential costs is one of the easiest ways to get credit card management under control but it can take a bit of time to find the right card. No matter what features you are looking for, these four low fee options are a great place to start.
Tags: credit card, credit cards, low fee, low fee credit card
