No Annual Fee Credit Cards | Reviews & Comparison

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.

47 reviews
No foreign transaction fees on purchases when travelling or shopping online.
No currency conversion fees.
$0 p.a. annual fee.

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
balance transfer
purchase rate
annual fee
Money saved
No foreign transaction fees on purchases when travelling or shopping online.
No currency conversion fees.
$0 p.a. annual fee.
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-
21.99% p.a.
ongoing
$0
ongoing
Citi Clear Platinum Credit Card
Apply by 31 jul 19
16 reviews
Transfer your other banks’ credit card balances and enjoy 0% p.a. for 14 months (reverts to cash advance rate) with no balance transfer fee.
Get additional savings with its $0 annual fee for the first year offer ($99 p.a. thereafter).
Take advantage of the promotional purchase rate of 12.99% p.a..
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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
HSBC Platinum Qantas Credit Card
Apply by 31 dec 19
5 reviews
Earn 1 Qantas Point per $1 spent, up to $2,500 every month. Every $1 spent thereafter will earn 0.5 Qantas Point. (Capped at 7,500 per statement period)
0% p.a. for 12 months on balance transfers with no balance transfer fee.
No annual fee for the first year. ($79 p.a. thereafter)
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12 months
0% p.a.
then 21.99%
with a 0% fee
19.99% p.a.
ongoing
$0
1st year
then $79
Pay no annual fee as long as you hold the card.
2.99% p.a. for 9 months on balances transferred.
Up to 55 days interest free on purchases.
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9 months
2.99% p.a.
then 17.99%
with a 0% fee
17.99% p.a.
ongoing
$0
ongoing
ING Direct Orange One Credit Card
No annual fee.
Low 11.99% p.a. variable purchase rate and cash advance rate.
Comes with Apple Pay.
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-
11.99% p.a.
ongoing
$0
ongoing
Citi Rewards Platinum Card Balance Transfer Offer
Apply by 30 nov 19
0% p.a. for 26 months on balance transfers.
One-off 1.5% balance transfer fee applies.
Reduced annual fee of $0 p.a. in the first year ($199 p.a. thereafter).
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26 months
0% p.a.
then 21.74%
with a 1.5% fee
20.99% p.a.
ongoing
$0
1st year
then $199
Westpac Low Fee Platinum Credit Card
Apply by 15 oct 19
16 reviews
0% p.a. on purchases for up to 9 months from card approval.
Cheap credit card from Westpac with no annual fee to pay for the first year (a $90 saving).
Up to 55 days on purchases.
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-
9 months
0% p.a.
then 20.09%
$0
1st year
then $90
Virgin Money No Annual Fee Credit Card
Apply by 31 aug 19
13 reviews
$0 annual fee for the life of the card.
6.9% p.a. for 36 months on balance transfers.
Up to 44 days on purchases.
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36 months
6.9% p.a.
then 20.99%
with a 0% fee
18.99% p.a.
ongoing
$0
ongoing
St.George No Annual Fee Credit Card
Apply by 02 oct 19
10 reviews
$0 annual fee for as long as you have the card.
0% p.a. for 12 months on balance transfers with 1% balance transfer fee on amounts transferred.
The small starting credit limit of $500 might be great for someone’s first credit card.
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12 months
0% p.a.
then 21.49%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing
No annual card fee to pay each year.
Base earn rate is 0.75 pt per $1 spent. Get an additional 1 point 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%.
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12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% 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 1.75 Qantas points per $1 spent on Qantas flights, goods, and services.
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12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing
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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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