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No Annual Fee Credit Cards

Get a no annual fee card for a rainy day. If you don’t use it, it won’t cost you anything to keep the account open.

$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
No annual fee to pay, ever.
Earn 1 flybuys point for every $2 spent.
Up to 62 days on purchases
New customers only.
Promotion

Most banks charge an annual fee for the use of their credit card, ranging from $50 to several hundred dollars. If, as most Australians, you have more than one credit card, these fees can certainly add up. The perks that come with the card, such as frequent flyer miles or low-interest balance transfers, can outweigh the cost of the fee in your case. But if you prefer to pay nothing for the use of the card, several banks offer cards with no annual fee. You should be aware that most no annual fee cards – though not all – do not offer rewards programs, in order to save on maintenance costs. In addition, the bank will typically only drop the annual fee as an introductory offer for the first year. There are some cards in our list, however, that have no annual fees for life.

If you are considering a balance transfer, be aware that a card with an annual fee may offer a lower interest rate than one with no annual fee, and the savings you would get from the lower interest charge may outweigh the fee in your case.

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My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
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balance transfer
purchase rate
annual fee
your savings
The American Express Essential® Credit Card
3 reviews
Receive a $50 credit when you apply online, are approved and spend $750 on your new Card within the first 3 months of Card Membership.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your phone or contract with your Essential Credit Card.
More info
Add to comparison
12 months
0% p.a.
then 14.99%
with a 1% fee
14.99% p.a.
ongoing
$0
ongoing
Coles No Annual Fee MasterCard
APPLY BY 28 feb 17
73 reviews
$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
Earn 1 flybuys point for every $2 spent.
No annual fee to pay, ever.
More info
Add to comparison
6 months
0% p.a.
then 19.99%
19.99% p.a.
ongoing
$0
ongoing
Virgin Money No Annual Fee Credit Card
APPLY BY 28 feb 17
12 reviews
$0 annual fee for the life of the card.
0% p.a. for 18 months on balance transfers. 2% balance transfer fee applies.
$100 cashback on your card when you spend $2,000 or more in the first 3 months.
More info
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18 months
0% p.a.
then 20.99%
with a 2% fee
18.99% p.a.
ongoing
$0
ongoing
Westpac 55 Day Platinum Credit Card
APPLY BY 30 jan 17
20 reviews
No annual fee for the first year.
1% p.a. interest on purchases for up to 12 months.
0% p.a. for 16 months on balance transfers (no balance transfer fee).
Complimentary international travel insurance cover for up to 6 months.
More info
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16 months
0% p.a.
then 19.84%
12 months
1% p.a.
then 19.84%
$0
1st year
then $90
Earn up to 7,500 extra Qantas Points when you apply, be approved, and meet the spend criteria.
Pay no annual fees.
Earn up to 2 Qantas points per $1 spent on Qantas flights, goods, and services.
More info
Add to comparison
12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing
No annual fee to pay each year.
Base earn rate is 1 pt per $1 spent. Get 2 points per $1 when spending with Virgin Australia.
0% p.a. on balance transfers for 12 months.
More info
Add to comparison
12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing
0% p.a. for the first 16 months on balance transfers with a 2% balance transfer fee on amounts transferred. Reverts to 21.49% p.a.
Up to 55 days interest free on purchases when you pay your account in full each month.
$0 annual fee for the first year (save $87).
More info
Add to comparison
16 months
0% p.a.
then 21.49%
with a 2% fee
19.74% p.a.
ongoing
$0
1st year
then $87
NEW
Citi Simplicity Card
APPLY BY 30 jun 17
No annual fee.
Enjoy up to $50 cash back, 5% cash back on all retail purchases in the first 90 days from account approval.
0% p.a. for 15 months on balance transfers (1.5% BT fee applies).
More info
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15 months
0% p.a.
then 19.99%
with a 1.5% fee
19.99% p.a.
ongoing
$0
ongoing
HSBC Platinum Credit Card
APPLY BY 30 jun 17
13 reviews
Earn 1 Rewards Point per $1 spent.
0% p.a. on balances transferred for 15 months.
Annual fee refunded – (conditions apply)
Max credit limits of up to $25,000
More info
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15 months
0% p.a.
then 21.99%
19.99% p.a.
ongoing
$149
ongoing
$0 p.a. annual fee for the first year, then $30 p.a.
An easy to manage credit limit from $500 will mean you can’t build up a lot of debt.
Manage your account on the go 24/7 with ANZ’s goMoney app.
More info
Add to comparison
-
19.74% p.a.
ongoing
$0
1st year
then $30
Westpac 55 Day Credit Card
APPLY BY 30 jan 17
52 reviews
Cheap credit card from Westpac with no annual fee to pay for the first year (a $30 saving).
Up to 55 days interest-free on purchases when you pay the full closing balance by the statement due date.
0% p.a. on balance transfer for 16 months.
More info
Add to comparison
16 months
0% p.a.
then 19.84%
12 months
1% p.a.
then 19.84%
$0
1st year
then $30
Show more cards
No annual fee. Ever.
Plus $100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
No annual fee to pay.
Earn 1 flybuys point for every $2 spent.
Get $10 off your Coles Supermarket shop, instantly at the till, every time you redeem 2,000 flybuys points.
0% p.a. on balance transfers for 6 months
Up to 62 interest free days on purchases if you pay your monthly statement off in full and on time.
Free Coles Mobile Wallet, lets you pay and collect flybuys points with your phone, while keeping track of your purchases for your convenience and control.
Protected by the Coles Shield.

Q&As about No Annual Fee Credit Cards from Customers

Q: What does 'no annual fee’ actually mean?

It is a card without any charges for annual account maintenance. There are obvious money-saving benefits with credit cards that charge zero annual fees, but there is generally a trade-off to be made in that they tend to lack features such as rewards programs. These types of cards generally have average purchase rates and may also offer a balance transfer option.

Q: Who are no annual fee cards for?

If you are the sort of person who only intends on using their credit card to fund unexpected emergencies such as car breakdowns, occasional online purchases or to use when travelling abroad, then a card that doesn’t charge any account maintenance fees can save you a nice chunk of money. Also, if you don’t intend on using your card regularly then features like rewards programs may simply be a waste of money, as you have to spend quite a lot to earn enough for any sizeable return.

Q: What types of them are there?

Broadly speaking, there are two types of no annual fee cards:

  • No annual fee for life – This is the main type. These cards charge no annual fee for life, which means you don’t have to worry about switching to a different bank after a year to void paying the yearly fee.
  • No annual fee for the first year – Before applying for a credit card offering no annual for the first year only, carefully consider whether or not you would be comfortable paying the full annual fee after the offer expires, particularly focusing on whether the benefits the card offers, such as lower interest rates, outweigh the cost of the annual fee.

There are also credit cards with a discounted annual fee that typically only applies to the first year. Just as is the case with offers of no annual fees for the first year, you should compare the cost of the full annual fee you’ll be charged after the first year.

Q: Do no annual fee cards have rewards programs?

Rewards programs are not as common on no annual fee cards, but they do exist. However, if you don’t pay off the balance in full every month, the rewards earned can be negated in value by the interest you’ll have to pay.

Q: Can I transfer an outstanding balance?

The majority of the best credit cards without annual fees will have a balance transfer option available. It should be noted that although you may save money by not having to pay an annual fee, it may actually work out cheaper for you to get a card that charges a nominal annual fee, but has a lower balance transfer rate so that your monthly repayments are significantly reduced.

Q: How can I maximise the benefit of a no annual fee card?

To get the most out of it, make sure that you pay off your balance in full each month. Most no annual fee credit cards (except the occasional card with an offer on purchase rates) will charge an average of approximately 17% p.a. on your purchases.

Q: What happens if I miss a payment?

Missing a payment is never a good thing, and it may result in you being charged the annual fee. But worse still, your credit rating may be damaged if you miss one or more monthly payments.

Q: When would the 'annual fee’ usually get charged?

Usually banks like to charge the annual fee straight away on the on 1st or 2nd statement of a new card and again on the anniversary of the card each year.

Still need help? Ask us a question

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We welcome your questions but we cannot help if you need personal financial advice or if have lost your card or need to resolve a dispute with your bank.
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