No annual fee cards are exactly what the name implies – credit cards that do not charge annual account maintenance fee. Usually, an annual fee is billed every year on the date the account was opened for the coming year. This amount can vary from anything as low as $20 to upwards of $1,000. This amount may also include a membership fee for any rewards programmes the card offers such as a frequent flyer programme. Below are the no annual fee credit cards from the banks and providers within Australia. Use the table to find the best card for your needs. If you would like more information on no annual fee credit cards, please scroll to the bottom of the page.

Credit Card	Interest Rate	Balance Transfer Rate	Interest Free Days (up to)	Annual Fee	Rewards
American Express Blue Sky Credit Card	20.49% p.a.	N/A	N/A	$0 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay $0 annual fee Free domestic and international travel insurance Cover against online fraud You must have an income of over $40,000 There are no interest free dates on purchases and you will be charged an annual interest rate of 20.49% from the purchase date. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.49%. There is no introductory purchases offer on this product and any purchases will incur 20.49% interest rate. This credit card has an annual fee of $0 p.a. You can earn up to 1 Blue Sky point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
American Express Gold Ascent Credit Card	20.49% p.a.	N/A	0% 44 days	$0 p.a.	Travel, Shopping
Enrollment into the American Express Membership Rewards program Enjoy all the benefits of this card and pay $0 annual fee Cover against online fraud You must have an income of over $40,000 Up to 44 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.49%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.49%. You will not be charged interest on any purchases for the first 44. Once the 0% period ends you will be charged an interest rate (per annum) of 20.49% on any purchases you make. This credit card has an annual fee of $0 p.a. You can earn up to 1.5 Membership Rewards points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
ANZ First Visa	18.99% p.a.	7.99% p.a. 6 months	0% 44 days	$0 for 1st year, then $30 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $0 24/7 monitoring of suspicious transactions Add 3 additional cardholders at no extra cost No reward scheme available Balance transfer only available to new customers and no balance transfers between ANZ Up to 44 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 18.99%. Cash advances have an annual interest rate of 20.74%. Enjoy an interest rate (per annum) of 7.99% on balance transfers for up to the first 6 months. Once the 7.99% period ends you will be charged an annual interest rate of 18.99% on the transferred balance. You will not be charged interest on any purchases for the first 44 days. Once the 0% period ends you will be charged an interest rate (per annum) of 18.99% on any purchases you make. This credit card has an annual fee of $0 for 1st year, then $30 p.a. You do not receive rewards on this card.
Bank of Queensland Blue No Annual Fee Visa Card	19.24% p.a.	N/A	N/A	$0 p.a.	Travel, Shopping
Enrollment into the Q Rewards® program Enjoy all the benefits of this card and pay $0 annual fee Free Purchase Cover Insurance No interest free days. You will be charged an annual interest rate of 19.24% on all purchases and 19.74% on all cash advances. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 19.24%. There is no introductory purchases offer on this product and any purchases will incur 19.24% interest rate. This credit card has an annual fee of $0 p.a. You can earn up to 1.5 reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
Bankwest Zero Gold MasterCard	16.99% p.a.	3.99% p.a. 9 months	N/A	$0 p.a.	No rewards
Enjoy all the benefits of this card and pay $0 annual fee Low cash advance rate of 16.99% p.a. Free airline travel and accident insurance protection No balance transfers between Bankwest You will be charged an annual interest rate of 16.99% on all purchases and 16.99% on all cash advances. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 9 months. Once the 3.99% period ends you will be charged an annual interest rate of 16.99% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 16.99% interest rate. This credit card has an annual fee of $0 p.a. You do not receive rewards on this card.
Bankwest Zero MasterCard	16.99% p.a.	3.99% p.a. 9 months	N/A	$0 p.a.	No rewards
Enjoy all the benefits of this card and pay $0 annual fee Low cash advance rate of 16.99% p.a. No balance transfers between Bankwest You will be charged an annual interest rate of 16.99% on all purchases and 16.99% on all cash advances. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 9 months. Once the 3.99% period ends you will be charged an annual interest rate of 16.99% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 16.99% interest rate. This credit card has an annual fee of $0 p.a. You do not receive rewards on this card.
Bankwest Zero Platinum MasterCard	16.99% p.a.	3.99% p.a. 9 months	N/A	$0 p.a.	No rewards
Enjoy all the benefits of this card and pay $0 annual fee Low cash advance rate of 16.99% p.a. 24/7 concierge service to help you arrange travel, shopping and medical services No balance transfers between Bankwest You will be charged an annual interest rate of 16.99% on all purchases and 16.99% on all cash advances. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 9 months. Once the 3.99% period ends you will be charged an annual interest rate of 16.99% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 16.99% interest rate. This credit card has an annual fee of $0 p.a. You do not receive rewards on this card.
Coles Group Source MasterCard	19.74% p.a.	0% p.a. 6 months	0% 62 days	$0 p.a.	FlyBuys, Fuel
Enjoy all the benefits of this card and pay $0 annual fee Save up to 8 cents per litre on fuel Range of discounts and vouchers No balance transfers between Coles Group or GE Money Up to 62 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.74%. Cash advances have an annual interest rate of 21.99%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 19.74% on the transferred balance. You will not be charged interest on any purchases for the first 62. Once the 0% period ends you will be charged an interest rate (per annum) of 19.74% on any purchases you make. This credit card has an annual fee of $0 p.a. You can earn up to 2 FlyBuys points for every 5 dollars you spend at Coles and you can save up to 8 cents per litre on fuel.
HSBC Credit Card	16.99% p.a.	0% p.a. 6 months	0% 55 days	$0 p.a.	No rewards
Enjoy all the benefits of this card and pay $0 annual fee $50 cashback when you make your first spend You must have an income of over $20,000 After 6 months months, balance transfers have a cash advance interest rate of 20.75% p.a. Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 16.99%. Cash advances have an annual interest rate of 20.75%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 20.75% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 16.99% on any purchases you make. This credit card has an annual fee of $0 p.a. You do not receive rewards on this card.
HSBC Premier Credit Card	19.5% p.a.	5.99% p.a. 6 months	0% 45 days	$0 waived for the life of the card	Travel, Shopping
Enjoy all the benefits of this card and pay $0 annual fee Free international travel, extended warranty, guaranteed pricing and purchase protection insurance Enrollment to HSBC's home&Away Privilege Program Only existing HSBC Premier customers can apply. After 6 months months, balance transfers have a cash advance interest rate of 20.75% p.a. Up to 45 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.5%. Cash advances have an annual interest rate of 20.75%. Enjoy an interest rate (per annum) of 5.99% on balance transfers for up to the first 6 months. Once the 5.99% period ends you will be charged an annual interest rate of 20.75% on the transferred balance. You will not be charged interest on any purchases for the first 45. Once the 0% period ends you will be charged an interest rate (per annum) of 19.5% on any purchases you make. This credit card has an annual fee of $0 waived for the life of the card You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
St. George No Annual Fee	20.24% p.a.	N/A	N/A	$0 p.a.	Discounts
Enjoy all the benefits of this card and pay $0 annual fee 24/7 monitoring of suspicious transactions You will be charged an annual interest rate of 20.24% on all purchases and 20.24% on all cash advances. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.24%. There is no introductory purchases offer on this product and any purchases will incur 20.24% interest rate. This credit card has an annual fee of $0 p.a. You revcieve instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
Westpac No Annual Fee	19.74% p.a.	3.99% p.a. 6 months	N/A	$0 p.a.	No rewards
Enjoy all the benefits of this card and pay $0 annual fee Additional card protection with Westpac SecureCard Balance transfer only available to new customers and no balance transfers between Westpac You will be charged an annual interest rate of 19.74% on all purchases and 21.24% on all cash advances. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 6 months. Once the 3.99% period ends you will be charged an annual interest rate of 19.74% on the transferred balance. There is no introductory purchases offer on this product and any purchases will incur 19.74% interest rate. This credit card has an annual fee of $0 p.a. You do not receive rewards on this card.
Virgin No Annual Fee Credit Card	16.95% p.a.	2.9% p.a. 6 months	0% 44 days	$0	No rewards
Up to 44 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 16.95%. Cash advances have an annual interest rate of 20.99%. Enjoy an interest rate (per annum) of 2.9% on balance transfers for up to the first 6 months. Once the 2.9% period ends you will be charged an annual interest rate of 20.99% on the transferred balance. You will not be charged interest on any purchases for the first 44 days. Once the 0% period ends you will be charged an interest rate (per annum) of 16.95% on any purchases you make. This credit card has no annual fee. There are no rewards for this credit card.

What is a No Annual Fee Credit Card?

With a no annual fee credit card, you can start saving money up front and every year you continue to be a cardholder. You are potentially making an annual saving just by choosing one of these cards. No annual fee cards can be divided into two categories: cards that have no annual fees for the life of the card or cards that offer the first year free as part of an introductory offer. Sometimes a card is advertised as having no annual fee but may include a rewards programme that incurs a membership fee. It is important to read the fine print before applying so you don’t run into any unexpected costs.

No annual fee cards are usually very basic cards that are not suitable for cash advances, balance transfers, and usually don’t have a rewards programme. They typically attract higher interest rates and are therefore most suitable for people who pay off their balance each month within the interest free days. If you are able to do this you can avoid paying the credit card companies any fees or interest charges and are essentially using their service for free.

If you do decide to get a cash advance or transfer a balance to the card, you’re likely to be charged interest straight away, and you’ll lose any interest free period on purchases until your balance transfer is paid off in full.

Is a no annual fee credit card right for me?

If you are looking for a no frills card and you plan to pay off the balance each month, then a no annual fee card is right for you. It offers you the flexibility of a credit card without any of the fees and charges that normally come with it.

If you are a heavy credit card user, it may be beneficial to look for a card with a rewards programme. You may be able to find a no annual fee card that includes a rewards programme from a range of platinum credit cards. These are not likely to include as many perks as other platinum cards but could still offer benefits such as free insurance and purchase protection so it is worth considering if your income makes you eligible for such a card. Be sure to check if the issuer is charging you a membership fee for these rewards programmes and judge whether you could earn more in rewards than you could save on a membership fee before applying for a card.

If you are planning on using your card for cash advances or a balance transfer it is best to avoid a no annual fee credit cards as they generally incur higher interest rates which do not fall under an interest free period and can also come with additional fees.

If you do have credit card debt, you should look at low interest rate cards or balance transfer cards. If they also happen to have no annual fees it is an additional benefit.

Advantages of no annual fee credit cards

• No annual fees – avoiding annual fees is a simple and effective way to save money and keep costs down. If you manage to pay off your balance in full each month you can avoid paying the credit card company any fees or interest altogether.

Disadvantages of no annual fee credit cards

• Higher interest rates than standard cards - credit card companies need to guarantee some level of return on investment which is why you will often find that no annual fee credit cards have a higher interest rate on both purchases and cash advances.
• No/Limited rewards programmes – these cards usually do not offer rewards programmes or offer only very limited rewards. They may also charge an additional membership fee for these programmes.

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