No Annual Fee Credit Cards

No annual fee doesn't mean no perks. And if you don't use your credit card at all, it won't cost you a thing.

PROMOTED
Kogan Money Credit Card - 0% Purchase and Balance Transfer Offer
0% Interest Offers
  • Up to 2 points per $1
  • $0 annual fee
  • Ends 29 June 2023
  • Up to 2 points per $1
  • $0 annual fee
  • Ends 29 June 2023
Eligibility criteria, terms and conditions apply.

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A credit card with no annual fee, when paid off in full by the due date, means you could pay nothing for your card. Many cards offer a $0 annual fee just for the first year, but there are a bunch that have no annual fee for the life of the card, too.

Compare no annual fee credit cards

Name Product Annual fee Purchase rate p.a. Balance transfer rate p.a.
Kogan Money Credit Card - 0% Purchase and Balance Transfer Offer
$0
0% for 14 months, then 20.99%
0% for 14 months, then 21.74%
Get 0% p.a. interest for 14 months on purchases and balance transfers (with no BT fee). Plus points per $1 on eligible spending.
Coles No Annual Fee Mastercard
$0
19.99%
0% for 12 months, then 19.99%
Get up to 70,000 bonus Flybuys points (worth $350 Flybuys Dollars) and save with an ongoing $0 annual fee.
ANZ Platinum Credit Card
$0 first year ($87 after)
20.24%
21.24%
Get $250 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.
ANZ Low Rate
$0 first year ($58 after)
12.49%
0% for 28 months with 2% balance transfer fee, then 21.24%
Save with a 0% p.a. balance transfer for 28 months (with a one-time 2% BT fee). Plus, a $0 first-year annual fee.
American Express Velocity Escape Card
$0
23.99%
Save with an ongoing $0 p.a. annual fee and earn 0.75 Velocity Points per $1 on everyday purchases.
American Express Platinum Edge Credit Card
$0 first year ($195 after)
23.99%
Save with a $0 annual fee in the first year. Plus, $200 travel credit every year.
NAB Low Rate Credit Card
$0 first year ($59 after)
12.49%
0% for 32 months, then 21.74%
Get a 0% interest rate on balance transfers for the first 32 months (with no BT fee). Plus, save with a $0 first-year annual fee.
Qantas American Express Discovery Card
$0
23.99%
Save with an ongoing $0 annual fee and earn up to 1.75 Qantas Points per $1 spent.
American Express Essential Credit Card
$0
18.99%
Get a $100 credit when you spend $1,500 on eligible purchases in the first 3 months. Plus, a $0 p.a. annual fee for life.
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How does a credit card with no annual fee work?

A no annual fee credit card allows you to buy what you need without having to pay a yearly fee for the account. This can save you around $25 to $1,450 compared to credit cards with an annual fee.

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

Finder's database contains every credit card we could find on the market, including some offering balance transfers, rewards and other benefits. Right now, there are 34 credit cards on the market that charge a $0 annual fee.

Finder's best no annual fee credit card offers for June 2023

EXPERTREVIEW

Updated 1 June 2023 by Finder's senior credit card writer, Amy Bradney-George.

With the cost of living continuing to rise, some people are turning to credit cards to help cover costs. Finder research has found 41% of Australians got their last credit card for emergencies and 21% chose a card to make a big purchase. But whatever your reason is for getting a card, choosing one with no annual fee gives you a way to save on account costs.

Here's our pick of offers available through Finder:

  • $0 annual fee rewards card:
    The Coles No Annual Fee Mastercard has an ongoing $0 annual fee and offers up to 70,000 bonus Flybuys points (worth $350 Flybuys Dollars).
  • No annual fee and 0% balance transfer and purchase rate exclusive offer:
    The Kogan Money Credit Card has an ongoing $0 annual fee. With this exclusive offer, you also get 0% p.a. interest on purchases and balance transfers for 14 months with no balance transfer fee.
  • No annual fee and frequent flyer points:
    The Qantas American Express Discovery Credit Card offers no annual fee for life and earns between 0.5 and 1.75 Qantas Points per $1 on eligible spending.

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

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. This gives you a way to make credit card purchases without interest charges, on an ongoing basis.

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.


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 no annual fee with other features including introductory 0% interest rate offers, frequent flyer points, reward points and complimentary extras. Here are some examples.

FeatureCardCurrent OfferAnnual Fee & Purchase Rate
Balance Transfer

ANZ Low Rate
ANZ Low Rate

Get a 0% p.a. interest rate for the first 28 months on balance transfers with a 2% balance transfer fee.
  • $0 annual fee in the first year ($58 after)
  • 12.49% p.a.
Rewards

Coles No Annual Fee Mastercard
Coles no annual fee credit card

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
Qantas American Express Discovery credit card

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
Bankwest zero platinum credit card

Offers 0% foreign transaction fees overseas and online with international merchants. Plus, complimentary overseas travel insurance.
  • $0
  • 14.99% p.a.

Pros and cons of $0 annual fee credit cards

As there are different types of $0 annual fee credit cards on the market, it's important to consider your financial situation and how you plan to use the card. Then you can weigh up the other benefits, costs and features to help you find a card that suits your needs.

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 deals. Some no annual fee credit cards offer limited-time promotions, frequent flyer programs and other perks you'd regularly have to pay a yearly fee to access.

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 no annual fee for the life of the card. If your card only has a $0 annual fee for the first year, make sure you know the standard annual fee and when it will apply.

How to find the right credit card with no annual fee

If you're interested in getting a 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 and 18% got a card to build credit history. So, if you rarely use a credit card but still want one for unplanned expenses or emergencies, getting one with no annual fee means you won't be burning a hole in your pocket when you're not using it.
  • Do you carry a balance? Some no annual fee credit cards charge high interest rates on purchases, so they're better suited to cardholders who pay their balance in full each statement period. If you do regularly carry a balance from month to month, you might want to consider a low interest credit card instead.
  • Do you have existing debt? If you have existing debt, think about whether you could save more money by focusing on paying off your current debts before you get a $0 annual fee card. You could also consider a balance transfer credit card to save money on interest charges.
  • What credit card benefits do you want? No annual fee credit cards sometimes have fewer perks than cards with annual fees. If you're interested in features like rewards programs and complimentary insurance, a rewards or platinum credit card might be worth considering.
  • Will you use the credit card after the $0 annual fee promotion ends? If you're looking at a credit card that offers no annual fee in the first year, consider whether you'll get enough value from the card once this introductory period ends. If it doesn't have a competitive interest rate or enough extra features to outweigh this cost, you might want to cancel the card before the annual fee is charged.
  • What other credit card fees and charges will you pay? While a $0 annual fee can help you save on costs, it doesn't mean it's a free credit card. 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

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    124 Responses

      Default Gravatar
      ColinMarch 17, 2018

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

        Avatarfinder Customer Care
        JhezelynMarch 17, 2018Staff

        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

      Default Gravatar
      TerryApril 11, 2017

      What about ING credit cards ?

        Avatarfinder Customer Care
        HaroldApril 12, 2017Staff

        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

      Default Gravatar
      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.

        Avatarfinder Customer Care
        MayDecember 26, 2016Staff

        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

      Default Gravatar
      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??

        Avatarfinder Customer Care
        DeeNovember 2, 2016Staff

        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

      Default Gravatar
      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

        Avatarfinder Customer Care
        DeeOctober 28, 2016Staff

        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

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