American Express Credit Cards With No Annual Fee

Information verified correct on December 3rd, 2016

Get the best-in-market credit card features, benefits and perks and pay no annual fee with American Express credit cards

American Express credit cards offer cardholders many of the perks and premium benefits in the credit card market including complimentary travel insurance, airport lounge passes and higher rewards points earned. Some of the no annual fee offers may only be for the first year so it is important to compare and decide which card is most suitable for your needs.

American Express No Annual Fee Credit Cards Comparison

Rates last updated December 3rd, 2016.

American Express Velocity Escape Card

Bonus Velocity Points field has been updated from 15,000 to 7,500.

February 29th, 2016

American Express Essential Credit Card

$50 credit + 0% p.a. for 12 mos. on balance transfers w/ a one-off 1% credit plan establishment fee

July 5th, 2016

American Express Qantas Discovery Card

The spend criteria for the bonus points has been changed from $300 to $750.

October 4th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
American Express Qantas Discovery Card
Enjoy up to 7,500 bonus Qantas Frequent Flyer Points and 1 point per $1 spent, plus 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you meet the minimum spend requirement and earn up to 2 points for every $1 you spend, together with a $0 annual fee.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months. Enjoy a waived annual fee for the first year and earn up to 1.5 Qantas Points per dollar spent.
19.99% p.a. $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info

What you need to know about no annual fee credit cards

No annual fee credit cards are normally suited to those people who do not want to pay for a card they may not use very much. The only potential problem is that the regular interest rate on these cards ranges for 16% p.a. to 20% p.a., which is up amongst the higher interest rates. You will need to assess whether saving on the annual fee is worth the higher price you may have to pay in interest should you not manage to keep a clear balance throughout the year.

A no annual fee credit card will not suit everyone, though. High earners will have no issue with paying an annual fee because it will allow them the higher credit limits and extra perks of Gold and Platinum credit cards.

Whether you choose the American Express no annual fee credit card or another card, make sure you do some comparisons first. In a recent survey, only 6% of Australians said they bothered to check out a credit card comparison site before making a credit card application. Around 50% only applied to their own bank. There are some excellent deals out there, and you may find that you can avoid an annual fee and still not have to compromise on any of the other features you most value in a credit card.

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2 Responses to American Express Credit Cards With No Annual Fee

  1. Default Gravatar
    peter | September 16, 2014

    can I register an amex velocity card on pay pal

    • Staff
      Isaiah | September 16, 2014

      Hi Peter,

      Thanks for your question,

      Paypal accepts credit cards and debit cards: MasterCard, Visa, Discover and American Express cards can be added to your PayPal account to make payments.

      These are the steps you can take to add a credit or debit card to your account:

      1. Log in to your PayPal account.
      2. Click Profile near the top of the page.
      3. Click My money.
      4. Click Update next to “Credit and Debit cards”.
      5. Click Add another card. 
      6. Enter the information and click Add Card. 

      I hope this is helpful,

      Isaiah

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