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No Annual Fee Credit Cards

A no annual fee credit card helps you save on account costs – and you can get one with rewards, balance transfer offers and other perks.

Updated

May 6, 2024

Fact checked

1 - 8 of 65

Name	Annual fee	Purchase rate p.a.	Balance transfer rate p.a.
humm90 Platinum Mastercard	Annual fee $0 first year ($99 after)	Purchase rate p.a. 25.8%	Balance transfer rate p.a. N/A	Go to site More Info Compare	Offers up to 110 days interest-free on purchases, 0% foreign transaction fees, $0 first-year annual fee and flexible instalment plan options.
Kogan Money Card – Exclusive Offer Exclusive Kogan Rewards Program	Annual fee $0	Purchase rate p.a. 9.99% for 18 months, then 20.99%	Balance transfer rate p.a. 0% for 18 months with 2% balance transfer fee, then 21.74%	Go to site More Info Compare	Save with 0% p.a. interest on balance transfers (with a 2% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Coles No Annual Fee Mastercard - Bonus Points Offer Flybuys	Annual fee $0	Purchase rate p.a. 0% for 6 months, then 19.99%	Balance transfer rate p.a. N/A	Go to site More Info Compare	Get 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) and 0% interest on purchases for the first 6 months.
ANZ Platinum Credit Card	Annual fee $0 first year ($87 after)	Purchase rate p.a. 20.99%	Balance transfer rate p.a. 21.99%	Go to site More Info Compare	Get $300 back on your card when you spend $1,500 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
NAB Low Rate Credit Card	Annual fee $0 first year ($59 after)	Purchase rate p.a. 13.49%	Balance transfer rate p.a. 0% for 28 months with 2% balance transfer fee, then 21.74%	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for the first 28 months (with a 2% BT fee). Plus, save with a $0 first-year annual fee.
ING Orange One Low Rate	Annual fee $0	Purchase rate p.a. 11.99%	Balance transfer rate p.a. N/A	Go to site More Info Compare	$0 annual fee and 100% foreign transaction fee rebates for customers with an Orange Everyday account who meet the minimum deposit and spend requirements.
American Express Velocity Escape Card Velocity Frequent Flyer	Annual fee $0	Purchase rate p.a. 23.99%	Balance transfer rate p.a. N/A	Go to site More Info Compare	Save with a $0 annual fee and earn 0.75 Velocity Points per $1 on everyday purchases.
American Express Platinum Edge Credit Card Membership Rewards	Annual fee $0 first year ($195 after)	Purchase rate p.a. 23.99%	Balance transfer rate p.a. N/A	Go to site More Info Compare	Save with a $0 annual fee in the first year. Plus, $200 Travel Credit every year.

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How does a credit card with no annual fee work?

A no annual fee credit card allows you to shop and spend, without having to pay a yearly fee for the account. This can save you from $25 to as much as $1,450 for credit cards with an annual fee.

Just like other cards, interest and other charges may apply. But if you pay off the balance in full each month – and can get interest-free days on purchases – it’s the closest you can get to free credit.

Finder's database contains every credit card we could find on the market, including some that offer balance transfers, rewards and other benefits. Right now, there are 44 credit cards on the market that charge no annual fee, ever.

Finder's best no annual fee credit card offers for May

EXPERTREVIEW

Updated 04 May 2024 by Finder's money editor, Richard Whitten.

Here's our pick of cards available through Finder:

$0 annual fee rewards card:
The Coles No Annual Fee Mastercard - Bonus Points Offer has an ongoing $0 annual fee and offers 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) when you apply by 30 June 2024. It also offers 0% interest on purchases for the first 6 months. One of the few cards on the market offering rewards and no annual fee.
No annual fee and 0% purchase rate offer:
The Virgin No Annual Fee Credit Card offers 0% interest on purchases for the first 12 months and has no annual fee ever. Keep in mind this card won't let you earn Velocity Points though.
No annual fee and 0% balance transfer exclusive offer:
The Kogan Money Credit Card has an ongoing $0 annual fee and offers 0% p.a. interest on balance transfers for 18 months with a 2% balance transfer fee. Unlike some cards, you can transfer debt from personal loans and lines of credit from other financial institutions.
No annual fee and no foreign transaction fee:
The ING Orange One Low Rate offers no annual fee and offers a rebate on foreign transaction fees for customers with an Orange Everyday account who meet the minimum deposit and spend requirements.

Keep in mind: There's no one best credit card for everyone, so check details that matter to you.

To determine Finder's pick of $0 annual fee cards, we examine over 250 cards in our database. We narrow it down to cards available through Finder that offer either a waived annual fee or an ongoing $0 annual fee. The other key factors we consider are:
- - The annual fee after the first year (the lower the ongoing annual fee, the higher the ranking)
  - Bonus point offers
  - 0% balance transfer offers
  - 0% purchase rate offers
  - The ongoing interest rate for purchases
In addition to the key factors, we may consider any additional features or introductory offers that are relevant and have the potential to offer further value.
Keep in mind: Our top picks may not always be best for you. Based on your situation, you may find certain features to be more or less important, so compare your options before you apply.

Pros and cons of $0 annual fee credit cards

Pros

Save money on credit card fees. The most obvious perk of these cards is that you won't pay an annual fee. This could save you tens, hundreds or thousands of dollars over the life of the card.
Practical and cost-effective. A no annual fee credit card can be ideal for emergencies and when extra credit is required. This means you can leave it in your wallet without worrying about it costing you when you're not using it.
Promotional offers and perks. Depending on the card you choose, you can get big bonus points offers, 0% balance transfers and other perks as well as a $0 annual fee for the first year or ongoing.

Cons

Higher interest rates. These cards typically charge higher ongoing interest rates on purchases than some other cards. This could add to your costs if you regularly carry a balance from month to month.
Fewer extra features. While some no annual fee cards do come with rewards and other benefits, they typically boast fewer features than cards with a higher annual fee.
Temporary $0 annual fee. Unfortunately, not all of these cards offer a $0 annual fee for the life of the card. If your card only waives the annual fee for the first year, make sure you know the standard annual fee and when it will apply.

A $0 annual fee credit card saves you money up front, but make sure you get the most from it. Always pay it off every month in full - once you're paying interest, the card isn't free. And look for other features as well - if you can earn frequent flyer points, you can save real money on travel just by using your card for everyday purchases.

Angus Kidman
Finder’s editor-at-large

Types of no annual fee credit cards

Some no annual fee credit cards offer the basics, while others have more features and benefits. This means you can compare credit cards that combine a $0 annual fee with other features, including introductory 0% interest rate offers, frequent flyer points, reward points and complimentary extras. Here are some examples.

Feature	Card	Current Offer	Annual Fee & Purchase Rate
Balance Transfer	ANZ Low Rate	Get a 0% p.a. interest rate for the first 28 months on balance transfers with a 3% balance transfer fee.	$0 annual fee in the first year ($58 after) 13.74% p.a.
Rewards	Coles No Annual Fee Mastercard	Offers the equivalent of 0.5 Flybuys points per $1 you spend on eligible purchases.	$0 19.99% p.a.
Frequent Flyer	Qantas American Express Discovery	Earns 0.75 Qantas Points per $1 spent on everyday purchases, 0.5 point / $1 with government bodies in Australia and an additional 1.75 Qantas Point per $1 spent on selected Qantas products and services in Australia, uncapped.	$0 23.99% p.a.
Travel	Bankwest Zero Platinum	Offers 0% foreign transaction fees overseas and online with international merchants. Plus, complimentary overseas travel insurance.	$0 14.99% p.a.

How to find the right credit card with no annual fee

Ask yourself these questions to help compare your options:

- - How often do you use your credit card? Finder research shows 41% of Australians got their most recent credit card for emergencies. If you rarely use a credit card but want one for unplanned expenses or emergencies, getting one with no annual fee helps you save on costs when you're not using it.
  - Do you carry a balance? Some no annual fee credit cards have high interest rates that are better suited to cardholders who pay their balance in full each statement period. If you regularly carry a balance, you might want to consider a low interest credit card instead.
  - Do you have existing debt? You could consider a balance transfer credit card to save money on interest charges for an introductory period. Or, focus on paying off your current debts before you get a new credit card.
  - Will you use the credit card after a $0 annual fee promotion ends? If it doesn't have a competitive interest rate or enough extra features to outweigh the ongoing cost, you might want to cancel the card before the annual fee is charged.
  - What other credit card fees and charges will you pay? As well as interest rates, make sure you check for other credit card fees that could apply, including foreign transaction fees, late payment fees and cash advance charges.

Interest-free spending hack

Most credit cards offer a number of interest-free days (such as up to 55) on purchases when you pay your account balance in full by the due date on your statement. So if you pay your account in full, make use of interest-free days and don't have an annual fee, your credit card could cost you nothing.

Frequently asked questions

If you get a credit card that offers no annual fee in the first year, you can cancel it before the annual fee is charged in the second year. Just check your account details online or contact your credit card provider to find out exactly when the annual fee would be charged – and make sure you have paid off the balance – so you can cancel the account before that date.
This depends on the credit card provider. For example, some providers may waive your credit card annual fee when you also take out a home loan package with them. Others may waive or refund your annual fee if you meet specific conditions, such as spending a set amount each year or being a student. You can check the terms and conditions or ask the credit card company to see if an ongoing waiver is possible, or compare cards with ongoing $0 annual fees instead.
If you always pay off your balance in full and can make use of interest-free days on purchases, then a no annual fee card can be very affordable. But if you carry a balance that attracts a high interest rate, the interest charges could make your credit card an expensive option. In this case, you might want to compare credit cards and look at the potential savings you'd get from a card with a low interest rate (even if it has an annual fee).There is no such thing as a "free credit card" because there is always the potential cost of interest if you carry a balance. There are also other credit card fees that may apply for certain transactions (such as cash advances or purchases made in a foreign currency). But in most cases, if you have a $0 annual fee card and pay off your account balance in full by the due date on each statement, you won't be charged interest and can use the card at no cost.
Yes, there are a few no annual fee, low rate credit cards on the market. You can use the filters on Finder's comparison table to narrow down your search based on rates, fees and other features you want. But keep in mind that $0 annual fees and low rates are generally offered on separate cards – except when one of the features is promotional. For example, a $0 annual fee card may offer an introductory low or 0% interest rate before reverting to a higher standard rate, while a low rate credit card could offer a waived annual fee in the first year.

Why you can trust Finder's credit card experts

We're free

Our comparison tables are completely free to use. We link you directly to the lender's secure application page. Better still, we regularly have exclusive offers that you won't find on any other site.

We're experts

We've researched and rated hundreds of cards as part of our Finder Awards. We've published 200+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.

We're independent

Unlike other comparison sites, we're not owned by a bank or lender. That means our opinions are our own and you can compare nearly every credit card in Australia on Finder.

2024 Finder Award winner and finalists

Find out which brand took first place at the 2024 Finder Awards for no annual fee credit cards.

The American Express Low Rate Credit Card won the 2024 Finder Award for Best No Annual Fee Credit Card. It scored highly for its $0 annual fee, low interest rate for purchases and interest-free days. It also offers $0 additional cardholder fees and has won the Finder Award for this category every year since 2020.

The Heritage Bank Gold Low Rate Credit Card scored highly for its $0 annual fee and low 11.8% interest rate. Unlike the other finalists in this category, it does not offer interest-free days. It was also a finalist in this category in 2023. But unlike the other finalists, it does not offer interest-free days.

The Hume Value Visa offers a $0 annual fee, a low 11.95% interest rate for purchases and up to 55 days interest-free, which saw it score well across the criteria considered for this category.

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Every year the Finder Credit Card Awards honor Australia's best credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Offers change regularly, so these cards may not currently have the most competitive deals but you can use them as a benchmark.

Thank you for your feedback!

Amy Bradney-George

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald.

More guides on Finder

When do you pay the annual fee on a credit card?
Make the most of credit cards offering $0 annual fee in the first year and learn about other ways to save on this yearly cost with this guide to annual fees.
Credit cards with additional cardholders
Share your credit card with a partner or family member but watch for extra costs. Compare cards and learn more about credit cards that offer free additional cardholders.
No Annual Fee Credit Cards With Rewards
Compare no annual fee rewards credit cards and earn points on all eligible purchases without paying a yearly fee.
No Frills Credit Cards
Save with low annual fees, competitive interest rates and modest credit limits with a no frills credit card.

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124 Responses

ColinMarch 17, 2018

Looking for a credit card with no annual fee and reward points on purchases.

Finder

JhezelynMarch 17, 2018Finder

Hi Colin,

Thank you for your comment.

You may compare no annual fee credit cards with rewards. These types of cards will let you earn points on purchases, which you can redeem for flights, cash, or merchandise, get access to extras such as complimentary travel and purchase insurance, airport lounge access, and personalised concierge services. Check the types, the benefits, and what you should consider in choosing rewards credit cards with no annual fee.

Please make sure to meet the eligibility criteria before submitting an application (hitting the Go to site button). Hope this helps.

Regards,
Jhezelyn

TerryApril 11, 2017

What about ING credit cards ?

Finder

HaroldApril 12, 2017Finder

Hi Terry,

Thank you for your inquiry.

Should you need to know more, please check our article about ING credit card products.

I hope this information has helped.

Cheers,
Harold

EddyDecember 26, 2016

What about insurance for fraudulent transactions. I had my Visa card stolen in Rome and, within 20 minutes, over $A3400 in cash withdrawn. My bank covered it all and advised me most of my annual fee was insurance premium. This worked out at over 20 years worth of annual fees and saved our holiday. I no longer view annual fees as an unnecessary or unwarranted expense.

Finder

MayDecember 26, 2016Finder

Hi Eddy,

Thanks for your question.

Most of the major credit cards nowadays have their own version of fraud protection like the Visa’s Zero Liability Policy and MasterCard’s Zero Liability Agreement. As long as you meet the conditions, you will not be held liable for those fraudulent transactions on your card. If you want to find more information on what you can do when your credit card is stolen or lost, please read our stolen credit card guide.

Hope this helps.

Cheers,
May

NanetteNovember 2, 2016

Hi I am wanting a credit card that will give me maximum Qantas frequent flyer points on sign up and no annual fee in the first year…any suggestions??

Finder

DeeNovember 2, 2016Finder

Hi Nanette,

Thanks for your question.

Please check the Qantas frequent flyer credit cards featured on our website to compare credit cards that offer bonus Qantas points. You can also check the annual fee for each card on the same page.

Cheers,
Anndy

AzamOctober 20, 2016

Hi:

I just want to know which VISA credit card will give me an identity with no annual fee. like with which card I can get subscription in iTunes or youtube???

Thanks

Finder

DeeOctober 28, 2016Finder

Hi Azam,

Thanks for your question.

If you are looking to apply for a Visa credit card with no annual fee, you can check the list of Visa credit cards featured on our website. Among those listed with no annual fee are Virgin Credit Card and Citi Simplicity Card.

Cheers,
Anndy

No Annual Fee Credit Cards

A no annual fee credit card helps you save on account costs – and you can get one with rewards, balance transfer offers and other perks.

Cards from

How does a credit card with no annual fee work?

Finder's best no annual fee credit card offers for May