BankSA No Annual Fee Credit Card

• 20.49% p.a. on purchases and cash advances, no interest free days apply*
• $0 annual fee
• Instant discounts and added extras with BankSA Instant Benefits
• Up to 3 free additional credit cards for your friends or family members
• Linked access to your BankSA accounts
• Credit limit starting at $500
• Switch to eStatements and stop receiving paper statements. You can also view, print and save at least 2 years of statements online
• Read the terms and conditions

• No annual fee for life
• Get discounts and special with BankSA Instant Benefits
• Add up to 3 extra cardholders for free
• No introductory balance transfer offer
• Fairly average standard interest rate on purchases
• No rewards program available

How does the BankSA No Annual Fee Credit Card compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	BankSA No Annual Fee Credit Card	20.49%	20.49%	$0	-%	- months
	The Average Credit Card	17.17%	21.04%	$95	3.04%	7 months

Are you considering a credit card, but are put off by the annual management costs? Then check out the BankSA No Annual Fee credit card. As the name suggests, the credit card is absolutely free to own (in terms of annual fees at least). This lack of annual management fees makes this an ideal card if you only plan on using it for emergencies. Similarly, if you are looking to build up a credit history then this card is ideal thanks to the low credit limit and fairly lax eligibility requirements.

Pros

The obvious benefit of this credit card is the fact you don’t have to pay an annual fee, which in some cases can be as much as $400 per annum. The BankSA No Annual Fee account is flexible too, with a choice between a Visa and a MasterCard. You can also add additional cardholders at no extra cost, which is great for couples and families looking to streamline the management of their spending.

Cons

The biggest downfall for the No Annual Fee credit card is that there is no interest free period, meaning you will start paying interest the minute you have made your first purchase. There’s also a distinct lack of benefits with the credit card – forget complimentary travel insurance, payment protection cover or reward points as the No Annual Fee card is simply a credit facility.

Conclusion

A no-frills attached credit card, the No Annual Fee account is ideal for people on low incomes or looking to start building up a credit history. If you only plan on using a credit card now and again, or don’t think you would take advantage of additional credit card benefits, then this could be the one for you. It is worth noting that having no interest free period could prove costly if you end up using the card on a frequent basis.