When will the annual fee be charged if a credit card offers no annual fee in the first year?

If you have a card with a promotional $0 annual fee offer, the annual fee will usually be charged 12 months after you were approved for the credit card.

Can I cancel a credit card before having to pay the annual fee?

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.

Is there any way to extend my credit card's annual fee waiver?

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.

Is a no annual fee credit card a cheap credit card?

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.

Can I get a credit card with no annual fee for life and an ongoing low interest rate?

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.

Can I get a no annual fee credit card if I have lots of debt or bad credit?

Having a bad credit rating will limit your chances of being approved and getting a credit card, regardless of whether there's an annual fee. You can use our bad credit rating credit card guide to see what credit alternatives are available for applicants with a negative credit history.

Best No Annual Fee Credit Cards | Finder's picks for April 2025

1 - 8 of 49

Name	Finder Score	Annual fee	Purchase rate p.a.	Balance transfer rate p.a.
Coles No Annual Fee Mastercard Flybuys	Finder score 8.6 Great	Annual fee $0	Purchase rate p.a. 20.74%	Balance transfer rate p.a. N/A	Go to site More info Compare	Get 10,000 bonus Flybuys points (worth $50 Flybuys dollars) when you spend $3,000 on eligible purchases in the first 3 months.
humm90 Platinum Mastercard - Exclusive Offer Exclusive	Finder score 6.8 Standard	Annual fee $0 first year ($119.40 after)	Purchase rate p.a. 26.3%	Balance transfer rate p.a. N/A	Go to site More info Compare	Finder Exclusive: Get $400 back, $0 monthly fees for the first 12 months, up to 110 days of interest-free purchases, and 0% foreign transaction fees.
ANZ Platinum Credit Card	Finder score 6.2 Standard	Annual fee $0 first year ($87 after)	Purchase rate p.a. 20.99%	Balance transfer rate p.a. 21.99% with 3% balance transfer fee	Go to site More info Compare	Get $100 back on your card when you spend $2,000 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
ANZ Low Rate - Balance Transfer Exclusive Offer Exclusive	Finder score 7.3 Great	Annual fee $0 first year ($58 after)	Purchase rate p.a. 13.74%	Balance transfer rate p.a. 0% for 28 months with 2% balance transfer fee, then 21.99%	Go to site More info Compare	Finder Exclusive: 0% p.a. for 28 months on a balance transfer (with 2% BT fee) and $0 first-year annual fee. Limited time offer expires by 17 April 2025 and may be withdrawn at any time. T&Cs apply.
Kogan Money Credit Card - Purchase Rate Offer Kogan Rewards Program	Finder score 9.9 Excellent	Annual fee $0	Purchase rate p.a. 9.99% for 9 months, then 21.99%	Balance transfer rate p.a. N/A	More info Compare	Save with 9.99% p.a. on purchases for the first 9 months, plus, an ongoing $0 annual fee.
Virgin Money No Annual Fee Credit Card	Finder score 8.8 Great	Annual fee $0	Purchase rate p.a. 0% for 6 months, then 19.99%	Balance transfer rate p.a. N/A	More info Compare	Save with a $0 annual fee and 0% p.a. on purchases for 6 months.
Kogan Money Credit Card Finder Award Kogan Rewards Program	Finder score 9.9 Excellent	Annual fee $0	Purchase rate p.a. 21.99%	Balance transfer rate p.a. N/A	More info Compare	Get $300 Kogan.com Credit when you meet the spend requirement. Plus, save with an ongoing $0 annual fee.
Westpac Low Fee Card	Finder score 6.6 Standard	Annual fee $0 first year ($30 after)	Purchase rate p.a. 20.99%	Balance transfer rate p.a. N/A	More info Compare	Offers up to 55 days interest-free and $0 annual fee for the first year and in the subsequent years when you meet the spend requirement.

Showing 8 of 49 results

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

Here are some of the top scoring no annual fee credit cards on the market:

The Kogan Money Credit Card - Purchase Rate Offer has a Finder Score of 9.9.
The Heritage Bank Gold Low Rate Credit Card has a Finder Score of 9.78.
The Qudos Bank Lifestyle Credit Card has a Finder Score of 9.74.
The Coastline Visa Credit Card has a Finder Score of 9.36.
The American Express Low Rate Credit Card has a Finder Score of 9.31.
The Credit Union SA Workplace Benefits Credit Card has a Finder Score of 9.29.
The Teachers Mutual Bank Credit Card has a Finder Score of 9.29.

Updated April 2025 by Finder's money editor, Richard Whitten.

The lowdown on Finder Score

To qualify for this category, credit cards must:

Charge no annual fee for at least 12 months.

Every month, we carefully analyse over 250 credit card products and assess the most important features and benefits of each card.

We assign scores out of 10 for each feature, and adjust the scores depending on what category we're looking at.

Credit card scores are category-specific (e.g. No annual fee, Rewards), meaning the same card will receive a different score within each category.

Our Finder Score methodology is designed by our editorial and insights team. Products are reviewed objectively and commercial partners carry no weight. Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you.

Annual fee credit cards - score weightings

Feature	Definition	Assessment	Weight
Annual Fee	Ongoing fees per year	Lower fees get higher scores, with $0 getting the highest score	30%
First-Year Fee	Introductory fee for the first year	Lower fees get higher scores, with $0 getting the highest score	20%
Interest-Free Days	The number of interest-free days	Higher number of interest-free days score more points, up to 55 days	10%
Value of points earned per month	Points earned for every dollar spent on eligible purchases	Points awarded per dollar	20%
Purchase Rate	Interest rate on new purchases	Lower rates receive higher scores	20%

Finder Score by the numbers

9+ Excellent - These cards offer the lowest ongoing purchase rates, high number of interest free days, and may earn rewards points - all for no annual fee.
7+ Great - Reasonable ongoing purchase rates and interest free days.
5+ Satisfactory - These cards offer no fees, but may have higher interest rates.
Less than 5 – Basic - These are basic cards with no annual fee.

No annual fee business credit cards

There are a few business credit cards that don't charge an annual fee. At least in the first year. But almost all of them charge an annual fee in the second year.

The CommBank Business Low Rate Credit Card has a permanent $0 annual fee.

Name	Finder Score	Annual fee	Purchase rate p.a.	Balance transfer rate p.a.
NAB Low Rate Business Card	Finder score 7.4 Great	Annual fee $0 first year ($60 after)	Purchase rate p.a. 0% for 12 months, then 13.25%	Balance transfer rate p.a. N/A	More info Compare	ABN w/ $75,000 p.a. revenue. 0% p.a. interest for 12 months on purchases and receive complimentary unauthorised transaction insurance.
Westpac Altitude Business Platinum Credit Card Westpac Altitude Rewards	Finder score 6.3 Standard	Annual fee $0 first year ($200 after)	Purchase rate p.a. 20.24%	Balance transfer rate p.a. 4.99% for 12 months with 0% balance transfer fee, then 20.74%	More info Compare	Get a $0 first-year annual fee and 4.99% p.a. on balance transfers for 12 months, with no BT fee.
Bank of Melbourne Amplify Business Credit Card Amplify Rewards / Qantas Frequent Flyer	Finder score 6.9 Standard	Annual fee $0 first year ($89 after)	Purchase rate p.a. 19.49%	Balance transfer rate p.a. N/A	More info Compare	Get a $0 annual fee in the first year and earn uncapped Amplify Points or Qantas Points on business purchases.
CommBank Business Low Rate Credit Card	Finder score 8.4 Great	Annual fee $0	Purchase rate p.a. 14.55%	Balance transfer rate p.a. N/A	More info Compare	Save on your business credit card costs with an ongoing $0 annual fee and 14.55% p.a. interest rate on purchases and cash advances.
Westpac Altitude Business Gold Mastercard Westpac Altitude Rewards	Finder score 6.7 Standard	Annual fee $0 first year ($150 after)	Purchase rate p.a. 20.24%	Balance transfer rate p.a. 4.99% for 12 months with 0% balance transfer fee, then 20.24%	More info Compare	Save with a $0 annual fee for the first year and 4.99% p.a. on balance transfers for 12 months.
St.George Amplify Business Credit Card Amplify Rewards / Qantas Frequent Flyer	Finder score 6.9 Standard	Annual fee $0 first year ($89 after)	Purchase rate p.a. 19.49%	Balance transfer rate p.a. N/A	More info Compare	Save with a $0 annual fee for the first year and earn uncapped points on eligible business spending.
BankSA Amplify Business Credit Card Amplify Rewards / Qantas Frequent Flyer	Finder score 6.9 Standard	Annual fee $0 first year ($89 after)	Purchase rate p.a. 19.49%	Balance transfer rate p.a. N/A	More info Compare	Save with a $0 annual fee in the first year and earn uncapped rewards points on business purchases.
ANZ Business Low Rate	Finder score 8.6 Great	Annual fee $0 first year ($100 after)	Purchase rate p.a. 12.99%	Balance transfer rate p.a. N/A	More info Compare	Get a $0 first-year annual fee and $0 fee per additional card. Plus, Unauthorised Transactions Insurance.

Best no annual fee cards: Kogan Money Credit Card – Purchase Rate Offer

Kogan Money Credit Card - Purchase Rate Offer

9.99% Purchase Rate Offer
$0 Annual fee
21.99% Purchase rate

Read review

Pros & cons

No annual fee
9.99% p.a. purchase rate for the first 9 months
Uncapped reward points
Finder Score of 9.9 in the no annual fee category

A 21.99% p.a. interest rate on purchases applies at the end of the introductory period

Why we like it

Some credit cards offer a discounted or $0 annual fee in the first year. But the Kogan Money Card never charges an annual fee. You can also earn Kogan rewards points on the card. 1,000 Kogan points are worth $10 credit when shopping at Kogan, so this can really add up over a year of spending on the card.

This card is a cheap credit card with the added benefit of Kogan points. The main thing to watch out for is the purchase rate, which is 9.99% p.a. on for 9 months but jumps to 21.99% p.a. This only matters if you don't pay off your balance each month.

Best no annual fee cards: HSBC Premier World MasterCard - Qantas Frequent Flyer

HSBC Premier World Mastercard - Qantas Frequent Flyer

Up to 1.5 Qantas Points per $1
$0 Annual fee
19.99% Purchase rate

Read review

Pros & cons

Up to 1.5 Qantas Points per $1 on eligible spending
$0 first-year annual fee
Complimentary domestic and international travel insurance
Airport lounge access through Mastercard Airport Experiences/LoungeKey

$399 annual fee after the first year
No introductory bonus points offer
3% foreign transaction fee

Why we like it

The HSBC Premier World Mastercard lets you earn Qantas Points on your spending at a high rate. And it has no annual fee at all, plus perks like complimentary travel insurance.

This card has a Finder Score of 7.43 in the no annual fee category.

Best no annual fee cards: American Express Low Rate Credit Card

American Express Low Rate Credit Card

Low Rate & No Annual Fee
$0 Annual fee
10.99% Purchase rate

Read review

Pros & cons

Low 10.99% p.a. interest rate for purchases
Ongoing $0 annual fee
Up to 4 additional cards
Complimentary card purchase cover and card refund cover

$30 late payment fee if you miss your minimum repayment
3% foreign currency conversion fee
No rewards program

Why we like it

There is no annual fee for this card at all. It also has a low purchase rate and comes with complimentary card purchase cover.

This card has a Finder Score of 9.41 in the low rate category.

Video: No annual fee credit cards

How does a credit card with no annual fee work?

Most credit cards charge an annual fee. No annual fee credit cards don't. Given that annuals fees start from around $50 for low rate cards, and up to $450 or more for frequent flyer cards, you can save a bit with a 0 annual fee credit card.

Some cards charge $0 in the first year only. But right now there are 30 credit cards on the market that charge no annual fee, ever.

Our expert says: No annual fee doesn't mean free

"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

Editor-at-large

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.

Types of no annual fee credit cards

Some no annual fee credit cards are basic cards for spending that don't offer many perks or extras. But some have balance transfer offers, reward points or complimentary extras.

Feature	Card	Current Offer	Annual Fee & Purchase Rate
Balance Transfer	ANZ Low Rate	Get a 0% p.a. interest rate for the first 26 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 20.74% 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	Bendigo Bank Ready Credit Card	Offers 0% foreign transaction fees overseas and online with international merchants. Plus, complimentary overseas travel insurance.	$0 19.99% p.a.

How to find the right no annual fee credit card

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.

2025 Finder Credit Card Awards for No Annual Fee

Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. These cards might not currently have the most competitive deals but you can use them as a benchmark against the latest offers.

Best No Annual Fee Credit Card: Kogan Money Credit Card

The Kogan Money Credit Card has a $0 annual fee permanently, and it lets you earn points. That's what made it this year's no annual fee credit card winner.

Highly commended

Bank Australia Visa Credit Card

Bank Australia's Visa Credit Card received a highly commended placing. It has no annual fee and up to 55 interest free days.

Bank Australia Visa Credit Card

Bank Australia's Visa Credit Card received a highly commended placing. It has no annual fee and up to 55 interest free days.

Heritage Bank Gold Low Rate Credit Card

The Heritage Bank Gold Low Rate Credit Card has a $0 annual fee for the life of the card and a low purchase rate. That's why it's highly commended in the no annual fee category.

Heritage Bank Gold Low Rate Credit Card

The Heritage Bank Gold Low Rate Credit Card has a $0 annual fee for the life of the card and a low purchase rate. That's why it's highly commended in the no annual fee category.

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

Obsessed with offers - You want all the perks and none of the fees, and we want that for you too. So we're tracking all the current no-fee cards, in one handy guide.

Save yourself some time. Why waste 100s of hours researching no-fee credit cards, when we've done the hard yards for you? Simply sit back, sort the options and get the card that suits your needs

No BS. We'll explain how all the credit card fees work and how you can avoid interest – and we'll always explain it all in plain English.

Thank you for your feedback!

Written by

Richard Whitten

Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise

Richard has written 599 Finder guides across topics including:

Home loans
Property
Personal finance
Money-saving tips

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130 Responses

ILISAPECIAugust 18, 2015

how to apply

Finder

JonathanAugust 18, 2015Finder

Hi Ilisapeci, thanks for your inquiry!

When you have found a card that you would like to apply for just press the ‘Go to Site’ button and you will be redirected to a secure web-form from the respective bank.

I hope this helps.

Cheers,

Jonathan

DevJune 12, 2015

Hello,

I have a question regarding American Express Platinum Edge card.

on this website it is mentioned that “No annual fee for the first year, a 10,000 bonus points offer and a complimentary return domestic flight every year” but on the american express card website there is no mention of annual fee getting waived off for the first year. Can you please confirm if the annual fee is waived off or not for the first year ?

RayJune 4, 2015

I require an auxiliary credit card to my primary card to use for online purchasing ( for event tickets etc). I require a ‘No Fee for Life’ credit card and only require a low credit limit (to $2,000 max)with monthly balance paid in full within one week of receipt of monthly statement . Do I need to have an account with the issuing bank (HSBC, BoQ, etc) to obtain a Credit Card. Could someone advise my best option.

Finder

sally.mcmullen@hiveempire.comJune 5, 2015Finder

Hi Ray,

Thank you for your question.

You may wish to visit our no annual fee credit cards to review some of your options. The credit limit you will be approved for will depend on factors including your income, your credit history, and existing lines of credit (such as other credit cards or loans).

You can use our credit limit to learn more about what to consider when choosing your credit limit and what banks consider when reviewing your application. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for a card.

I hope this has answered your question.

Thanks,
Sally

billMay 5, 2015

I only use credit card for emergency and pay in full. I am looking for a no fee card for lifetime with travel insurance and overseas purchases included at no costs, thanks

Finder

JonathanMay 6, 2015Finder

Hi Bill,

Thanks for your inquiry.

Please refer to the following link for a list of cards with free travel insurance, which will allow you to compare products based on overseas purchases and annual fee features.

Cheers,
Jonathan

akashjoshiMay 3, 2015

I am not a frequent user of any type of credit card never ever had one in my life. So if I wanted to go for credit card I do not have any plan to use it but I wanted to keep as in safe for emergency only. So which credit card is better for me. I do not like to keep debt on cards, wanted to know either low interest rate is better or no fee cards ? Thanks

TerryJuly 23, 2015

Can I exchange a Coles platinum card for a Coles no annual fee card?

Finder

JonathanJuly 23, 2015Finder

Hi Terry, thanks for your inquiry!

Switching between Coles credit cards can be requested by contacting the Coles MasterCard team. Please refer to the contact details I have sent to your email.

Cheers,

Jonathan

Finder

JonathanMay 4, 2015Finder

Hi Akashjoshi, thanks for your inquiry!

The choice between low-interest rate or no annual fee credit cards depends on the frequency of usage and type of transactions made on the card. If the usage on the credit card is lower/ minimal you may like to refer to no annual fee cards on this page and no annual fee cards on this page.

Cheers,

Jonathan

cashMay 4, 2015

Yes sure, cheers!

Best no annual fee credit cards – Finder’s picks

Compare 45+ no annual fee credit cards. We've rounded up some of the best cards on the market in April 2025.