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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.

$50 off one Coles Supermarket shop if you apply and are approved by 30th April 2017. New customers only, use promo code 'promo1’.
Earn 1 flybuys point for every $2 spent – everywhere, everyday.^
No annual fee to pay, ever.
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
Coles No Annual Fee Mastercard
APPLY BY 30 apr 17
76 reviews
$50 off one Coles Supermarket shop if you apply and are approved by 30th April 2017. New customers only, use promo code 'promo1’.
Earn 1 flybuys point for every $2 spent – everywhere, everyday.^
No annual fee to pay, ever.
More info
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6 months
0% p.a.
then 19.99%
19.99% p.a.
ongoing
$0
ongoing
The American Express Essential® Credit Card
4 reviews
Receive a $50 credit when you apply online, are approved and spend $750 on your new Card within the first 3 months. Conditions apply.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone (Conditions apply)
Works with Apple Pay.
More info
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12 months
0% p.a.
then 14.99%
with a 1% fee
14.99% p.a.
ongoing
$0
ongoing
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
No international transaction fees on purchases.
No currency conversion fees.
Low $0 p.a. annual fee.
More info
Add to comparison
-
22.74% p.a.
ongoing
$0
ongoing
Westpac 55 Day Platinum Credit Card
APPLY BY 20 apr 17
20 reviews
No annual fee for the first year.
0% p.a. interest on purchases for up to 6 months.
0% p.a. for 12 months on balance transfers (no balance transfer fee).
Complimentary international travel insurance cover for up to 6 months.
More info
Add to comparison
12 months
0% p.a.
then 19.84%
6 months
0% p.a.
then 19.84%
$0
ongoing
75,000 Bonus points when you spend $2,500 in 3 months.
$0 p.a. Annual fee for the first year.
75 Bonus Status Credits when you book and fly return with Qantas by 30 Sep 2017.
More info
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-
19.99% p.a.
ongoing
$0
1st year
then $425
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
Pay no annual card fee.
Earn up to 2 Qantas points per $1 spent on Qantas flights, goods, and services.
More info
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12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing
No annual card 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. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
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
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16 months
0% p.a.
then 21.49%
with a 2% fee
19.74% p.a.
ongoing
$0
1st year
then $87
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
Add to comparison
15 months
0% p.a.
then 21.99%
19.99% p.a.
ongoing
$149
ongoing
50,000 Bonus points when you spend $2,500 in 3 months.
$0 p.a. Annual fee for the first year.
Complimentary Qantas Frequent Flyer Membership.
More info
Add to comparison
-
19.99% p.a.
ongoing
$0
1st year
then $295
Show more cards
No annual fee to pay, ever.
$50 off a single Coles Supermarket shop.
$50 off one Coles Supermarket shop if you apply and are approved by 30th April 2017. New customers only, use promo code 'promo1’.
No annual fee to pay, ever.
0% p.a. on balance transfers for 6 months.
Coles give you up to 62 interest free days on purchases if you pay your monthly statement off in full and on time.
Earn 1 flybuys point for every $2 spent – everywhere, everyday.^
Get $10 off your Coles Supermarket shop, instantly at the till, every time you redeem 2,000 flybuys points.
Protected by the Coles Shield.

New customers who apply online via this webpage using promotion code 'promo1’ and are approved for a Coles Credit Card between 1 March and 30 April 2017 and make a purchase (excludes cash advances and cash equivalents) within the first 30 days of the card approval date will receive $50 off a single Coles Supermarket shop. $50 will be activated on your flybuys account and available for use within 2 weeks of your first purchase. $50 off will only be activated on the flybuys card quoted in the application process. To redeem the $50 off you must scan your flybuys barcode on the back of your new Coles Credit Card and spend a minimum spend of $50.05 after savings and discounts in one transaction at Coles Supermarkets or BI-LO (excluding smoking/tobacco product purchases, and all gift cards). $50 can only be redeemed once and expires on 31 August 2017. Excludes Coles Express and Coles Online. This offer is not transferable and cannot be used with any other offer.

^flybuys points awarded for using a Coles Mastercard linked to your flybuys membership are in addition to flybuys points awarded by flybuys partners. Eligible transactions exclude cash advances, BPAY payments, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account. Standard flybuys Terms and Conditions apply, see flybuys.com.au. Note that partners’ earn rates vary.

Mastercard® and the Mastercard brand mark are registered trademarks of Mastercard International. Credit facility provided by Wesfarmers Finance Pty Ltd (ABN 58 601 282 455), Australian Credit Licence number 470916.

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.

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