Best no annual fee credit cards Spring 2017

Sally McMullen 26 October 2017 NEWS


You’ll never have to pay an annual fee with these credit cards.

Do you want to pay on plastic without paying the yearly cost? It might be time to start comparing no annual fee credit cards. If you pay off your account in full each month and avoid interest, this type of credit card could help you avoid any additional costs altogether.

Although some credit cards offer $0 fee for a promotional period such as the first year, we’ve highlighted the cards that boast no annual fee for the life of the card. This way you’ll never have to worry about paying an anniversary fee, no matter how long you own the card. While there is no one best $0 annual fee credit card for every Aussie cardholder, these are just some of the offers you can compare through finder.

American Express Essential credit cardamex-essential250x158

The Amex Essential credit card is one of the few $0 annual fee rewards credit cards on the market. Linked with the Membership Rewards Gateway program, you can collect 1 Membership Reward point per $1 spent on eligible purchases and 0.5 points per dollar spent on bills, utilities and government payments. If you spend $750 within the first three months, you’ll also receive a $50 credit on your account!

If you’re unable to pay your balance in full, you'll collect the 14.99% p.a. purchase rate. This is the most competitive purchase rate in this lineup. If you’re looking to pay off an existing debt, you can also take advantage of 0% on balance transfers for the first 12 months. You'll have to fork out a one-time 3% balance transfer fee.

Bankwest Zero Platinum Mastercardbankwest-zero-platinum250x159

The Bankwest Zero Platinum Mastercard is suited to cardholders who want to avoid an annual fee while spending overseas. This is because the card doesn’t charge foreign currency conversion fees, unlike most other credit cards. This could help you cut back costs if you’re travelling overseas or shopping online with international merchants.

You can also save with complimentary international purchase and travel insurance if you meet the minimum spend requirements. This card has a purchase rate of 17.99% p.a., so it’s also best suited to cardholders who regularly pay off their balance in full.

Qantas American Express Discovery credit card amex-qantas-discover250x158

This is currently one of the only Qantas Frequent Flyer credit cards available through finder that doesn’t charge an annual fee for the life of the card. Although it doesn’t come with a bonus points offer, you can earn 1 Qantas Point per $1 spent on eligible purchases, an additional point per $1 spent with Qantas and 0.5 Qantas Points per $1 spent with Australian government bodies. Unlike some other rewards, your rewards potential isn’t limited by a points cap either.

The Qantas Amex Discovery credit card also has a balance transfer offer of 0% for the first 12 months, with a 1% balance transfer fee. If you're using your card for purchases and are unable to pay your balance in full by the due date, any remaining balances will collect the 20.74% p.a. purchase rate.

Citi Simplicity Cardciti-simplicity250x158

As well as the $0 annual fee, the Citi Simplicity Card boasts a bunch of features to help cardholders cut back on costs. If you apply by 31 January 2018, you can pay down an existing debt with 0% on balance transfers for the first 15 months. But you’ll have to pay a one-time 1.5% balance transfer fee.

The card also rewards you with 5% cashback on all eligible purchases for the first 90 days. This reward is capped at $50 per month, but this means you could get up to $150 back before the offer ends. Thanks to the Citi Dining Program, you can also receive a free bottle of wine when you use this card to pay for your meal at participating restaurants. Although there are plenty of ways to save, this card has a purchase rate of 19.99% p.a. and could rack up your interest costs if you're unable to pay your balance in full.

Compare credit cards with no annual fee for life

Rates last updated February 20th, 2019
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate Product Description
American Express Essential Credit Card
$0 p.a.
14.99% p.a.
0% p.a. for 12 months with 3% balance transfer fee
Get a $50 Dining Credit when you meet the spend requirement and Smartphone Screen Insurance of up to $500. Plus, an ongoing $0 annual fee.
Bankwest Zero Platinum Mastercard
$0 p.a.
17.99% p.a.
2.99% p.a. for 9 months
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Qantas Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
Get 0% p.a. interest for up to 6 months on balance transfers with no balance transfer fee. Plus, a $0 annual fee for life.

Compare up to 4 providers

Although all of these cards offer a competitive $0 annual fee, comparing the interest rates and additional features can help you decide which one is right for you. You may also find that cards with promotional $0 annual fee offers come with more competitive purchase rates, rewards and extras. So, while this roundup could help narrow down your choices, you can use our comparison of no annual fee credit cards to weigh up more options.

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