• Rates
  35%
• Fees
  80%
• Rewards
  N/A
• Customer Service
  77%
• Value
  61%

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.

The St George No Annual Fee Credit Card

Who says credit cards have to be expensive? If you know how to deal with credit correctly – and what to look for when choosing a card – credit cards can cost you zip. As long as you avoid fees and pay off your balance before it starts accruing interest, there’s no reason why you can’t enjoy access to credit for free.

If you’re interested in saving money on your credit card, the first thing to think about is how much you’re paying in annual fees. By choosing a credit card with no annual fee, you could save hundreds of dollars a year, while still enjoying the many benefits of having a credit card.

Sound good? Then check out the St George No Annual Fee Credit Card. This little money-saver charges no annual fee for the life of the card – and still offers some pretty neat features. On top of that, it has a good introductory offer. New customers can enjoy 0% p.a. on balance transfers for 12 months. 1% balance transfer fee applies. Reverts to cash advance rate after the promotional period ends.

What we love…

Let’s start with the introductory offer. What can you do in over a year? Quite a lot, if you put your mind to it. With this card, you could use the balance transfer offer to make a substantial dent in existing credit card debt.

With its offer, the St George No Annual Fee Credit Card shapes up nicely within the no annual fee card market. Yes, there are cards that offer same balance transfer periods, such as the Virgin Money No Annual Fee Credit Card (with 0% on balance transfers for 18 months). But, if you want a card that charges no annual fee ever, with a balance transfer offer, you’ll have to search pretty hard indeed.

Another great feature is its low minimum income requirement. To apply for this card, you only need to earn a minimum of $14,000 per year. Compared to some other cards – especially platinum cards – this makes it much easier on lower income earners. You can also enjoy a nice low minimum credit limit of $500, helping to keep excessive spending in check, if needed.

What’s not so great…

When comparing credit card offers, it’s important to read the small print. When it comes to balance transfer offers, you need to find out the card’s revert rate. This is the rate of interest any unpaid balance will attract when the introductory period ends.

The offer on the St George No Annual Fee Credit Card revert to the card’s cash advance rate, currently at a variable 21.49% p.a. That means if you transfer a balance and don’t pay it off within the intro period, it will start accruing interest at that much higher rate.

It goes without saying that any purchases made will also attract that same higher rate of interest. So, if you don’t pay off the balance in full each month, you could end up paying out heaps in interest.

Why should you choose this card?

There are two types of cardholders no annual fee cards generally attract. First, there are the money-savers. They want to keep costs down to a minimum by not paying annual fees on their credit card. Second, there are those who keep a credit card for emergencies. Using their debit card for day-to-day plastic payments, they keep their no annual fee card just in case they ever need access to credit.

If you fit into either of these categories – or you want to take advantage of a great purchase and balance transfer offer – the St George No Annual Fee Credit Card could be for you. While it may not be jam-packed with features, it does offer three additional cardholders at no extra cost, Visa extras and security, and up to 55 days interest free on purchases.

Overall Rating

Offering the perfect way to save money on annual fees, this card has some decent extras, plus a good balance transfer offer.