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.

14 reviews
0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
No annual fee for the first year. Annual fee refunded for each subsequent year. (Conditions Apply)
Earn 2 pts per $1 spent on overseas purchases.
Comes with Apple Pay.

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.

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
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balance transfer
purchase rate
annual fee
Money saved
Westpac Low Rate Credit Card Exclusive Offer
Apply by 11 jun 18
0% p.a. for 26 months on balance transfers. (2% balance transfer fee applies). Reverts to variable cash advance rate.
$0 p.a. annual fee for the first year.
Up to 55 days on purchases
More info
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26 months
0% p.a.
then 19.49%
with a 2% fee
13.49% p.a.
ongoing
$0
1st year
then $59
St.George Vertigo Platinum Credit Card Exclusive Offer
Apply by 30 jun 18
0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). Reverts to variable cash advance rate.
Low ongoing variable purchase interest rate of 12.74% p.a.
$0 p.a. annual fee for the first year.
More info
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24 months
0% p.a.
then 19.49%
with a 1% fee
12.74% p.a.
ongoing
$0
1st year
then $99
HSBC Platinum Credit Card
Apply by 31 jul 18
14 reviews
0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
No annual fee for the first year. Annual fee refunded for each subsequent year. (Conditions Apply)
Earn 2 pts per $1 spent on overseas purchases.
More info
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22 months
0% p.a.
then 21.99%
with a 2% fee
19.99% p.a.
ongoing
$0
1st year
then $129
75,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
Earn 1 Qantas Point per $1 spent on eligible purchases up to $7,500 per statement period.
More info
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-
19.99% p.a.
ongoing
$0
1st year
then $425
Woolworths Everyday Platinum Credit Card
Apply by 30 jun 18
27 reviews
0% p.a. on balance transfers for 14 months and then 21.99% p.a.
$0 annual fee for the first year, saving you $49 p.a.
Get a $50 Woolworths eGift Card when you apply by 30th June and make an eligible purchase by 31st July.
More info
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14 months
0% p.a.
then 21.99%
19.99% p.a.
ongoing
$0
1st year
then $49
$0 p.a. annual fee.
One low 11.99% p.a. rate on purchases.
Up to 55 days on purchases if you pay your balance in full each month.
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-
11.99% p.a.
ongoing
$0
ongoing
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 international transaction fees on purchases.
No currency conversion fees.
$0 p.a. annual fee.
More info
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-
21.99% p.a.
ongoing
$0
ongoing
Citi Simplicity Card
No annual fee.
Enjoy up to $50 cash back: 5% cash back on all retail purchases (up to $1000 spend) in the first 90 days from 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
75,000 points when you spend $2,500 on eligible purchases within the first 3 months.
$0 annual fee for the first year.
Eligibility criteria, T&Cs, fees and charges apply.
More info
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-
18.79% p.a.
ongoing
$0
1st year
then $375
St.George Amplify Credit Card
Apply by 26 sep 18
8 reviews
3% p.a. for 36 months on balance transfers with no balance transfer fee.
$0 p.a. annual fee for the first year (save $79).
Earn points into either the Amplify Rewards program or Amplify Qantas program.
More info
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36 months
3% p.a.
then 20.24%
19.49% p.a.
ongoing
$0
1st year
then $79
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0% p.a. for 22 months on balance transfers.
No annual fee for the first year. Annual fee refunded for each subsequent year. (Conditions Apply)
HSBC Platinum Credit Card
14 reviews
0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
No annual fee for the first year. $129 p.a. annual fee will be refunded for each subsequent year when you spend $6,000 annually on eligible purchases.
Earn 2 pts per $1 spent on overseas purchases.
Earn 1 Rewards Point per $1 spent.
High credit limits available for bigger spenders.
Insurance package available including extended warranty, purchase protection, guaranteed pricing, transit accident and international travel insurance.
Get additional cardholders at no extra cost.
Visa payWave for faster contactless purchases.
Comes with Apple Pay.

Promotion. Credit criteria, fees and charges apply. Read the terms and conditions before making a decision.

 

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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