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Credit cards with $0 annual fee for the first year

Save money on a new credit card by taking advantage of a $0 annual fee introductory offer.

There is a wide range of credit cards that include a promotional annual fee waiver for new customers. This means that you pay a $0 annual fee for the first year, which can help reduce the initial costs of getting a new card. But since the annual fee usually kicks in again after the introductory period, it’s important to also factor in the card’s other features when deciding if it will offer value beyond its first year.

Here, you can find out how first year annual fee waivers work, compare cards that offer $0 annual fees in the first year and apply for one. We also look at other options for annual fee savings so that you can choose a credit card that’s right for you.

Westpac Credit Card Offer

Westpac Low Rate Card

0% p.a. for 24 months on balance transfers
$0 annual fee for the first year

Offer ends 23 October 2018

Eligibility criteria, terms and conditions, fees and charges apply

Westpac Credit Card Offer

The Westpac Low Rate credit card features a long-term balance transfer offer, a first year annual fee waiver and a low variable interest rate on purchases.

  • $0 p.a. annual fee for the first year ($59 p.a. thereafter).
  • 13.49% p.a. on purchases
  • 0% p.a. for 24 months with 1% BT fee on balance transfers
  • Cash advance rate of 19.49% p.a.
  • Up to 55 days interest free
  • Minimum income requirement of $15,000 p.a.
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Compare $0 Annual Fee For The First Year Cards

Rates last updated October 19th, 2018
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
Westpac Low Rate Card
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Qantas Premier Everyday
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
19.99% p.a.
4.9% p.a. for 24 months
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.
Citi Clear Platinum Credit Card
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
12.99% p.a.
0% p.a. for 14 months
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ANZ Platinum Credit Card
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
19.74% p.a.
0% p.a. for 18 months with 2% balance transfer fee
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
ANZ First Student Card
$0 p.a. annual fee for the first year ($30 p.a. thereafter)
19.74% p.a.
An ideal, low limit credit card for full-time tertiary students with up to 44 days interest-free on purchases and a $0 annual fee for the first year.
American Express Westpac Altitude Platinum Bundle
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
20.24% p.a.
$0 first year annual fee & up to 75,000 bonus Altitude Pts when you meet T&C with this Visa (issued by Westpac) & Amex (issued & serviced by Amex).

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How do credit cards with $0 annual fee for the first year work?

This is an introductory offer and you may need to meet several requirements to be eligible for the offer. Depending on the card and promotion, these could include the following:

  • New customers only. As these promotions are targeted at increasing the provider’s customer base, many offers state that you cannot be an existing customer of the bank.
  • Promotional period. To enjoy the promotion, you must apply by a specific date.
  • Limited introductory period. At the end of the first year, the card’s standard annual fee will be charged. This is typically applied on the anniversary of your account opening, and every 12 months thereafter. This is why you may see an offer that reads something like “$0 annual fee in the first year ($199 thereafter)”.

How to compare credit cards with $0 annual fee for the first year

In order to make the most of your annual fee waiver and the credit card, it’s important to consider the following factors when comparing credit cards:

  • Introductory $0 annual fee offer. Consider the length of the annual fee waiver, the promotional period and any other requirements you have to meet to be eligible for the offer.
  • Other promotional features. Credit cards often include additional introductory offers, such as a 0% balance transfer rate, 0% purchase interest rate or bonus sign-up points. Consider how these deals also add value to your card, albeit temporarily.
  • Standard annual fee. You must factor in the standard annual fee since it will apply after the introductory period. Make sure the card you choose has a standard annual fee you can afford so that you don’t have to deal with excessive credit card costs in the future.
  • Purchase rate. This is the interest rate for eligible purchases, which is important to consider if you tend to carry a balance on the card.
  • Interest-free days. Most credit cards provide a number of interest-free days for purchases if you pay off your card balance by the due date on each statement. For example, your card may offer “up to 55 days interest-free”. This feature can be useful if you want the flexibility to pay off purchases over a shorter amount of time without paying interest.
  • Balance transfer rate. This is the interest rate applied to balance transfers and is particularly relevant if you plan to consolidate existing debt onto your new credit card.
  • Rewards. Rewards credit cards let you earn points per $1 spent that you can redeem for travel, merchandise and other rewards. This can add to the value of your credit card, particularly if you’re a high spender or frequent flyer and regularly pay your balance in full.
  • Complimentary extras. Depending on the card, you may be able to enjoy perks such as complimentary travel and purchase insurances, concierge services and airport lounge access.
  • Cash advances. Cash advances, which include but are not limited to ATM withdrawals and cash equivalent purchases, attract cash advance fees and high cash advance interest rates. You should avoid making cash advances on your credit card if possible since these incur high fees.
  • Foreign transaction fees. This is usually around 3% of the transaction value for overseas transactions, but note that Internet purchases made in foreign currencies may also attract these fees.
  • Other fees. You need to identify and compare any other fees that may be applied to your account, such as ATM fees or late payment fees.

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Can I extend this $0 annual fee beyond the promotional first year offer?

Although this isn’t usually possible, there are some cards that offer ongoing annual fee waivers if you meet certain requirements. These include the following:

Card How to extend the $0 annual fee
ANZ Platinum Credit Card The card’s standard annual fee of $87 will be waived in subsequent years if you spend over $20,000 per annum on the card.
CommBank Low Fee Credit Card The card’s $29 annual fee will be waived if you spend $1,000 or more in the previous year.
CommBank Low Fee Gold Credit Card The card’s $89 annual fee is waived in subsequent years if you spend $10,000 or more annually.

Note that while some cards may not offer annual fee waivers in the first year, they may include conditional waivers similar to the ones above that you can enjoy as long as you meet the offer requirements.

Credit cards with no annual fee for life

Another category of cards which allows you to continually enjoy $0 annual fees is the no annual fee credit card. These cards have $0 annual fees for life, but often charge higher interest rates as a result. They are more suitable for infrequent card users who regularly repay their card balances because these cards can prove very costly to cardholders who carry a card balance.

When comparing credit cards with annual fee waivers, make sure you research all the available card options. Since these annual fee savings may be only temporary, remember to weigh up the card’s ongoing features and check for any ongoing fee waivers before choosing the one that will work for you now and in the foreseeable future.

Pictures: Shutterstock

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Amy Bradney-George

Amy is a senior writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

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Important Information*
Qantas Premier Everyday

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Annual fee


*$49 p.a. after first year

Westpac Low Rate Card

Interest rate


Annual fee


*$59 p.a. after first year

ANZ Low Rate

Interest rate


Annual fee


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