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.

43 reviews
0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). Reverts to variable cash advance rate.
No annual fee for the first year.
Up to 55 days on purchases.
Know if you’ve been approved with the quick 60 second online application.

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
Apply by 27 nov 18
43 reviews
0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). Reverts to variable cash advance rate.
No annual fee for the first year.
Up to 55 days on purchases
More info
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24 months
0% p.a.
then 19.49%
with a 1% fee
13.49% p.a.
ongoing
$0
1st year
then $59
Citi Clear Platinum Credit Card
Apply by 31 mar 19
16 reviews
0% p.a. for 14 months on balance transfers with no balance transfer fee.
No annual fee for the first year ($99 p.a. thereafter).
Enjoy a low purchase rate of 12.99% p.a.
More info
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14 months
0% p.a.
then 21.74%
with a 0% fee
12.99% p.a.
ongoing
$0
1st year
then $99
Coles No Annual Fee Mastercard
Apply by 31 dec 18
77 reviews
0% p.a. for 15 months on purchases (reverts to 19.99%).
0% p.a. on balance transfers for 6 months.
Earn 1 flybuys point per $2 on eligible spend.
More info
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6 months
0% p.a.
then 19.99%
with a 0% fee
15 months
0% p.a.
then 19.99%
$0
ongoing
St.George Amplify Signature Credit Card Online Exclusive Offer (Amplify)
Apply by 17 dec 18
ONLINE EXCLUSIVE OFFER
Up to 100,000 Amplify points. Conditions Apply.
No annual fee in the first year, currently saving you $279.
Boost your Amplify account with 1.5 points per $1 you spend.
More info
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-
19.49% p.a.
ongoing
$0
1st year
then $279
Woolworths Everyday Platinum Credit Card Balance Transfer Offer
Apply by 31 jan 19
1.99% p.a. on balance transfers for 12 months and then 21.99% p.a.
Get a $50 Woolworths eGift Card* (Spend Conditions Apply).
$0 annual fee for the first year, saving you $49.
More info
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12 months
1.99% p.a.
then 21.99%
with a 0% fee
19.99% p.a.
ongoing
$0
1st year
then $49
Bank of Melbourne Amplify Signature Credit Card Online Exclusive Offer (Amplify)
Apply by 17 dec 18
ONLINE EXCLUSIVE OFFER
Up to 100,000 Amplify points. Conditions Apply.
No annual fee in the first year, currently saving you $279.
Every year get a birthday bonus with a 10% extra points of the total points earned in the previous year.
More info
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-
19.49% p.a.
ongoing
$0
1st year
then $279
$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.
More info
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-
11.99% p.a.
ongoing
$0
ongoing
No foreign transaction fees on purchases when travelling or shopping online.
No currency conversion fees.
$0 p.a. annual fee.
More info
Add to comparison
-
21.99% p.a.
ongoing
$0
ongoing
BankSA Amplify Signature Credit Card Online Exclusive Offer (Amplify)
Apply by 17 dec 18
ONLINE EXCLUSIVE OFFER
Up to 100,000 Amplify points. Conditions Apply.
No annual fee in the first year, currently saving you $279.
Earn 1.5 Amplify Points per $1 spent in Australia.
More info
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-
19.49% p.a.
ongoing
$0
1st year
then $279
Bendigo Bank Low Rate Mastercard
No annual fee for the first year ($45 p.a. thereafter).
Low 11.99% p.a. purchase rate.
Minimum credit limit $500.
More info
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-
11.99% p.a.
ongoing
$0
1st year
then $45
Citi Simplicity Card
Apply by 31 mar 19
No annual fee.
0% p.a. for 6 months on balance transfers.
Complimentary purchase cover insurance, transit accident insurance, extended warranty insurance and guaranteed pricing scheme.
More info
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6 months
0% p.a.
then 19.99%
with a 0% fee
19.99% p.a.
ongoing
$0
ongoing
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0% p.a. for 24 Months on Balance Transfers
With a minimal 1% balance transfer fee.
Westpac Low Rate Credit Card
43 reviews
0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). Reverts to variable cash advance rate.
No annual fee for the first year.
Enabled with Visa payWave technology for faster PIN-less purchases under $100.
Low minimum income threshold of $15,000 needed for eligibility.
Know if you’ve been approved with the quick 60 second online application.
852 branches and phone support in Australia.

Q&A's 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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