Compare No Annual Fee Credit Cards

Updated 5 September 2019

By choosing a no annual fee credit card, you will pay no annual fee for an introductory period or for the life of the card.

Also known as a ‘no fee’ credit card, a no annual fee card is designed to help cardholders save money. It’s true, most credit cards in Australia charge an annual fee. Card providers generally charge this fee for providing both access to credit, and access to the various features and rewards the card may offer. However, you can avoid paying an annual fee by choosing the right card or the right offer.

No annual fee cards fall into two distinct categories. Firstly, there are those cards that have no annual fee for the life of the card. By choosing this type of card, you will never pay an annual fee. Secondly, there are cards that feature an introductory offer, which waive their annual fee for one or two years, and re-instate it after the intro period ends.

Using CreditCard.com.au, you can find both types of offer here on this page. Focussing on that feature, you can compare a variety of cards and offers using our handy visual comparison tool. On a desktop, you’ll see a circle, and on a mobile device, you’ll see a bar. The more filled-in that circle or bar, the stronger the offer is.

These types of cards can work well for a variety of cardholders. You may simply want to save money. Or, perhaps you only want to keep a card for emergencies and don’t want to pay for it when it’s not in use. As for those intro offers, they can provide real bang for your buck, especially on cards with bonus points or enticing extras on offer. Just be sure you know what the annual fee reverts to after that intro period ends.

ME Frank Credit Card

ME Frank Credit Card

24 reviews
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Virgin Money No Annual Fee Credit Card

Virgin Money No Annual Fee Credit Card

15 reviews

Apply by 2 Dec 19

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$0 saved over 36 months
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$ saved over 36 months
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HSBC Platinum Qantas Credit Card

HSBC Platinum Qantas Credit Card

11 reviews

Apply by 31 Dec 19

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$0 saved over 12 months
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$ saved over 12 months
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St.George No Annual Fee Credit Card

St.George No Annual Fee Credit Card

6 reviews

Apply by 2 Oct 19

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$0 saved over 12 months
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$ saved over 12 months
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BankSA No Annual Fee Credit Card

BankSA No Annual Fee Credit Card

2 reviews

Apply by 2 Oct 19

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$0 saved over 12 months
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$ saved over 12 months
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Bank of Melbourne No Annual Fee Credit Card

Bank of Melbourne No Annual Fee Credit Card

2 reviews

Apply by 2 Oct 19

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$0 saved over 12 months
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$ saved over 12 months
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ANZ First for Students Credit Card

ANZ First for Students Credit Card

5 reviews
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$0 saved over months
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$ saved over months
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ANZ Platinum Credit Card

ANZ Platinum Credit Card

29 reviews
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$0 saved over 18 months
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$ saved over 18 months
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Westpac Low Fee Platinum credit card

Westpac Low Fee Platinum credit card

14 reviews

Apply by 15 Oct 19

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$0 saved over months
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Citi Rewards Platinum Credit Card

Citi Rewards Platinum Credit Card

24 reviews

Apply by 30 Nov 19

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$0 saved over 26 months
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$ saved over 26 months
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Is no annual fee right for you?

People get caught up with annual fees. Your usage will define whether a no annual fee card is right for you. No annual fee cards typically have higher interest rates and provide low levels of features.

No annual fee cards are great for a backup source of funds or minimal use. You can keep them in your wallet without paying for it.

0 Annual Fee Cards - What Are They?

A no annual fee credit card means that no fee is charged each year for the use of the card. This is perfect for the occasional credit card user as you won’t be charged for simply owning a credit card if you aren’t using it much. While the interest rates might be a little higher, if you pay the card balance on time you won’t be charged interest so this is a worthy trade off.

How to choose the best No Annual Fee Option?

Choosing a no annual fee credit card is largely dependent on the other costs and features of the card. If you are never charged interest it doesn’t matter how high that interest rate may be. If you expect to occasionally pay interest then consider the cost of the expected interest charge compared to the cost of an annual fee.

How to avoid the Biggest Mistake

The biggest mistake people make with a no annual fee credit card is using it as an everyday card. No annual fee cards often have larger interest rates than low interest rate credit cards. Therefore if you use it frequently but don’t pay the balance on time, the interest charges may end up higher than the annual fee you saved on paying in the first place.

A no annual fee credit card is one which comes with an annual fee of $0. An annual fee is charged each year, so in this case there is $0 fee each year, or for the life of the card – unless the issuer was to change the terms and conditions in the future.

These cards will give you one year without charging an annual fee, but you should expect a fee to appear on the first statement of the second year you have the card – i.e. after you have had the card for 12 months.

No annual fee credit cards may come with an interest free period, and this is usually up to 44 days or up to 55 days, and some cards have odd numbers of interest free days.

Interest may be charged from the date your statement is prepared, or from the date you made a purchase (check the card’s terms and conditions to find out which).

After your next statement is issued, if you have not paid off the whole purchase amount for the previous period, interest will be charged on that purchase.

Remember that payment may sometimes take up to 2-3 business days, so keep this in mind and make sure it reaches the credit card before the payment due date.

Click the link to learn more about how interest free days work

The no annual fee card was designed for people who do not carry a credit card debt. Because of their structure, these cards might not suit someone who is looking for a lower interest rate so they can pay down credit card debt more quickly. Balance transfer credit cards exist for that purpose, as the banks compete for new business by offering a lower rate to non-existing customers with debt to pay off.

Banks designed no annual fee credit cards for occasional or one-off use by customers who have no existing credit card debt. That is their main purpose. They are a convenient way of paying, or for use in an emergency.

People in this situation don’t have to be concerned about the interest rate they will be charged on purchases, and don’t want added features with their credit card. They don’t plan on carrying a balance.

Recently Asked Questions

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85 questions (showing the latest 10 Q&As)

Greg

Greg

8 April 2019
Can u apply 4 a credit card on a disability pension
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    8 April 2019
    Hi Greg, this is possible. You need to find a credit card provider that will accept the disability pension as income. Then you need to at least meet all other minimum requirements to apply. Such as having good credit and not recently applying for multiple credit items. Have a look at the ANZ Low Rate. The disability pension is accepted as income and this card is generally one of the easier to get approved for.
michael

michael

14 March 2019
Any credit cards for age pension own home car etc
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 March 2019
    Hi Michael, they can be though you would need to meet the minimum requirements. How much income do you get each year? This is a critical component. Most no annual fee cards have a higher minimum income requirement.
Joe

Joe

20 February 2019
Hi,I want to get a no fee credit card with good reward points. please advice.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 February 2019
    Hi Joe, Good rewards and no annual fee are a combination that is difficult to achieve. AMEX have 2 offerings which fit the bill: Qantas Discovery and Velocity Escape.
Bruce

Bruce

23 January 2019
Is there a card with no annual fee ....Qantas FF points....we use our card for everyday purchases ....direct debits and pay the balance owing in full every month...not interested in American Express due to fee charged by retailers
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 January 2019
    Hi Bruce, AMEX are the only no annual fee rewards card that earns Qantas points. Other than that you will need to pay an annual fee on the card. How much do you expect to spend a month on a card and I can provide some suggestions.
Marlene

Marlene

19 January 2019
Is there a no fee credit card with rewards and fee free days? I always pay balance at end month
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 January 2019
    Hi Marlene, have a look at the Qantas Discovery and Velocity Escape. These are the best no annual fee rewards cards. From there, based reward cards are around the $100 mark.
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