Best no annual fee credit cards

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

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

• The Kogan Money Card – Exclusive Offer has a Finder Score of 9.9.
• The Coastline Visa Credit Card has a Finder Score of 9.85.
• The Heritage Bank Gold Low Rate Credit Card has a Finder Score of 9.82.
• The American Express Low Rate Credit Card has a Finder Score of 9.81.
• The Credit Union SA Workplace Benefits Credit Card has a Finder Score of 9.78.
• The Teachers Mutual Bank Credit Card has a Finder Score of 9.78.

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

How we calculate No Annual Fee Finder Score

Read full methodology

What different scores mean

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+

Standard

These cards offer no fees, but may have higher interest rates.

0+

Basic

These are basic cards with no annual fee.

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. Double-check details that matter to you before applying or buying.

Annual fee credit cards - score weightings

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 cards for businesses

Name	Finder Score	Annual fee	Purchase rate p.a.	Balance transfer rate p.a.
NAB Low Rate Business Card	Finder score	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 7 Great	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	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 9.7 Excellent	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 7.3 Great	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 Amplify Rewards / Qantas Frequent Flyer	Finder score	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	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	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.

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Best no annual fee cards: Kogan Money Card – Exclusive Offer

Kogan Money Card – Exclusive Offer

• 0% Balance Transfer & 9.99% Purchase Rate Offers
• $0 Annual fee
• 21.99% Purchase rate

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Pros & cons

• No annual fee
• 0% p.a. for 18 months on balance transfers
• Low 9.99% p.a. purchase rate for 18 months
• Uncapped reward points
• Complimentary Kogan First membership

• Balance transfer offer has a 1% BT fee
• A high 22.74% p.a. interest rate on balance transfers after the introductory period
• A 21.99% p.a. interest rate on purchases applies at the end of the introductory period
• No interest-free days if you have a balance transfer

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

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Pros & cons

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

• No introductory bonus points offer
• 3% foreign transaction fee

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

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Pros & cons

• Low 10.99% p.a. interest rate for purchases
• Ongoing $0 annual fee
• Up to 4 additional cardholders
• 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

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 $1,750 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 29 credit cards on the market that charge no annual fee, ever.

Pros and cons of $0 annual fee credit cards

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.

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.

Frequently asked questions

• 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.

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.

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.

Written by

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise

Richard has written 554 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips