Save on card costs and enjoy a wide range of benefits with a no annual fee credit card.
No Annual Fee Credit Card Offer
American Express Essential Credit Card
$0 annual fee
$50 Dining Credit at Deliveroo / Rockpool Dining Group restaurants
Offer ends 13 March 2019
Eligibility criteria, terms and conditions, fees and charges apply
No Annual Fee Credit Card Offer
The American Express Essential Credit Card offers savings and rewards with no annual fee, Membership Rewards points and a $50 Dining Credit for new card members.
- Save on credit card costs with no annual fee and a competitive 14.99% p.a. purchase interest rate.
- Receive a $50 Dining Credit when you spend $50 or more at Deliveroo and/or Rockpool Dining Group restaurants in the first month.
- Earn 1 Membership Rewards point / $1 spent on eligible purchases and 0.5 / $1 for utilities, insurance, telco and government.
- Transfer your points to 8 airline rewards partner programs including Velocity Frequent Flyer and Emirates Skywards.
- Dining Credit offer available to new American Express Card Members only.
Compare the Best* No Annual Fee Credit Cards in Australia
* The offers compared on this page are chosen from a range of products that finder.com.au can access to track details and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer. It is not representative of any product’s star ratings and should not be taken as a recommendation of any form of credit. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
You can cut costs with a no annual fee credit card that charges $0 annual fee for the life of the card of a waived fee for a promotional period (such as the first year you have the card). You can also compare credit cards that waive the annual fee on an ongoing basis if you meet specific criteria, such as spending a certain amount each year.
As well as helping you save money, some no annual fee credit cards offer a variety of other benefits including balance transfers, rewards or frequent flyer points and other travel benefits. Use this guide to compare no annual fee credit cards and find out more about different features, benefits and costs so that you can get a low cost credit card to suit your needs.
No Annual Fee Credit Cards Trending Now
Compare the features of these popular credit cards with no annual fees.
- American Express Velocity Escape. A frequent flyer credit card that offers no annual fee for life and earns Velocity Points per $1 spent.
- Citi Simplicity Card. A credit card with no annual fee for life that offers Citibank Dining Program perks and Visa Platinum benefits.
- Qantas American Express Discovery Card. A Qantas Frequent Flyer credit card that offers no annual fee for life and earns Qantas Points per $1 spent with no points cap.
- ME frank Credit Card. Pay no annual fee for the life of the card and enjoy a low interest rate offer.
What you’ll find in this guide to no annual fee credit cards
What are no annual fee credit cards?
A no annual fee credit card doesn’t charge you for yearly account maintenance. This could save you anywhere from $30 to $700 or more per year when compared to credit cards that do charge an annual fee. But credit cards with no annual fee for life can have higher standard interest rates for purchases compared to some other options. Some no annual fee credit cards also offer fewer additional features, such as rewards or complimentary extras.
What is the best no annual fee credit card?
There isn't one "best" no annual fee credit card, because everyone has different spending habits and goals that influence what card works for them. Comparing your options, the details of the no annual fee offer and other features of the card will help you find the right one for you.
Different types of no annual fee credit cards
Some no annual fee credit cards offer the basics, while others boast a range of additional features and benefits. If there are other features you want alongside the $0 annual fee, you can compare credit cards that combine no annual fee with everything from introductory 0% interest rate offers to frequent flyer points, reward points and complimentary extras.
- $0 annual fee and 0% balance transfer credit cards
- No annual fee frequent flyer credit cards
- No annual fee low rate credit cards
- Reward credit cards with no annual fee
- Travel credit cards with no annual fees and no foreign transaction fees
Interest-free credit card 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 interest-free purchases on an ongoing basis. If you're paying your account in full, taking advantage of interest-free days and paying no annual fees, you can keep your card costs to a minimum.
What should I consider before applying for a no annual fee credit card?
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? If you rarely use a credit card but still want one for unplanned expenses or emergencies, a no annual fee card will give you the line of credit that you need without burning a hole in your pocket when you're not using it. It can be a good option if you want a credit card for emergency purchases.
- 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, getting a no annual fee credit card could tempt you to spend more money than you can afford. Aim to pay off your current debts, or 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 other options. If you’re interested in features such as rewards programs and complimentary insurance, make sure you look at a range of cards and consider these factors as well as the annual fee so that you can find an option that suits all of your needs.
- Will you use the credit card after the $0 annual fee promotion ends? If the card comes with no annual fee for a promotional period, consider whether you want to use the card once the introductory period ends. If the card doesn't have a competitive interest rate or extra features to outweigh the annual fee cost, you might want to cancel the card before the annual fee applies. If you'd prefer to skip that hassle altogether, compare cards with a low or $0 annual fee for life.
- 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 you'll pay no fees or get a free credit card. As well as interest rates, make sure you check for other credit card fees that could apply, such as foreign transaction fees, late payment fees and cash advance charges. This will help you find a card that's affordable based on how you want to use it.
Pros and cons of $0 annual fee credit cards
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 is because 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 come with promotional offers, frequent flyer programs and other perks that you’d regularly have to pay a yearly fee to access.
Cons
- Higher interest rates. No annual fee credit cards typically have 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. If you do frequently carry a balance between statement periods, consider a card with both $0 annual fee and a competitive purchase interest rate.
- Fewer extra features. While some no annual fee cards do come with frequent flyer programs and other benefits, they usually have 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 a promotional period, make sure you know when the standard annual fee will apply and how much it is to avoid any surprise costs.
As there are many types of $0 annual fee credit cards on the market, it's important to consider your financial situation and how you intend to use the card. Then you can weigh up the type of $0 annual fee as well as the other features, benefits and costs to help you find a card that suits your needs.
Answers to the most popular questions about no annual fee credit cards
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Q: If I have a credit card with a promotional $0 annual fee offer, can I cancel the card before having to pay the annual fee?
A: This is possible as long as you don’t have a balance on the card and cancel it before the annual fee is applied. Contact your provider to confirm exactly when the credit card's annual fee is charged so you can arrange to cancel it before the annual fee applies. -
Q: When will the annual fee be charged if I get a credit card that offers no annual fee in the first year?
A: If you have a card with a promotional no annual fee offer, the annual fee will usually be charged 12 months after you were approved for the credit card. If you don't want to pay this fee, ask the provider what date it will be charged and cancel the account before then. -
Q: Is there any way to extend my credit card's annual fee waiver?
A: This depends on the credit card provider. For example, some providers may waive your credit card annual fee when you also take out a home loan package with them. Others may waive or refund your annual fee if you meet specific conditions, such as spending a set amount each year or being a student. Contact your provider to find out if there are any other ways you can continue to pay no annual fee on your credit card. -
Q: Is a no annual fee credit card a cheap credit card option?
A: A no annual fee credit card has the potential to save you hundreds of dollars on your yearly account costs, which can make it a cheaper option. If you always pay off your balance in full and can make use of interest-free days on purchases, then a no annual fee card could be very affordable. But if you carry a balance that attracts a high interest rate, the interest charges could make your credit card an expensive option. In this case, you might want to look at the potential savings you'd get from a card with a low interest rate (even if it has an annual fee). So, if you're looking for a cheap credit card, think about how you'll use it and then compare a few different options to find one that's affordable for you. -
Q: Is a no annual fee credit card free?
A: There is no such thing as a "free credit card" because there is always the potential cost of interest if you carry a balance. There could also be other credit card fees that may apply for certain transactions (such as cash advances or purchases made overseas). But if you have a no annual fee card and pay off your account balance in full by the due date on each statement, you won't be charged interest and use the card without paying fees or charges. -
Q: What costs would apply if I got a credit card with no annual fee and rewards?
A: This depends on the card and how you use it but some factors to consider include the interest rates, cash advance fee and foreign transaction fee. If you're comparing no annual fee credit cards with rewards, make sure you also look at full details of the annual fee – in most cases you only get a $0 annual fee in the first year before a higher, standard annual fee is charged. -
Q: Can I get a credit card with no annual fee for life and an ongoing low interest rate?
A: Generally, these features are offered on separate cards – except when one of the features is promotional. For example, a no annual fee credit card may offer an introductory low or 0% interest rate before reverting to a higher standard rate, while a low rate credit card could offer no annual fee in the first year before a standard yearly account fee applies. But you can compare no annual fee and low rate cards side-by-side to help you find one that is affordable for you. -
Q: I want a no annual fee credit card for travel. What other features should I consider?
A: To keep your travel costs down, you may want to consider a credit card with no annual fee and no overseas transaction fees or a card that offers complimentary travel insurance. Also, make sure that the card you're using is accepted wherever you're travelling and that it isn't restricted by economic sanctions. -
Q: Is there a business credit card with no annual fee?
A: While business credit cards can offer no annual fee promotions, most of them charge high annual fees as they come with a lot of extra features. But depending on your circumstances, you may be able to claim the annual fee as a tax deduction. Compare business credit cards here. -
Q: Can I get a no annual fee credit card if I have lots of debt or bad credit?
A: Having a bad credit rating can limit your chances of being approved and getting a credit card, regardless of whether or not there's an annual fee. You can use our bad credit rating credit card guide to see what type of credit alternatives are available for applicants with a negative credit history.
Pictures: Shutterstock
Looking for a credit card with no annual fee and reward points on purchases.
Hi Colin,
Thank you for your comment.
You may compare no annual fee credit cards with rewards on this page. These type 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
What about ING credit cards ?
Hi Terry,
Thank you for your inquiry.
Should you need to know more about ING credit card products you may find this page helpful.
I hope this information has helped.
Cheers,
Harold
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.
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 click this link.
Hope this helps.
Cheers,
May
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??
Hi Nanette,
Thanks for your question.
Please refer to this page to compare credit cards that offers bonus Qantas points. You can also check there the annual fee for each card.
Cheers,
Anndy
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
Hi Azam,
Thanks for your question.
If you are looking to apply for a Visa credit card with no annual fee, you can check your options here. Among those listed with no annual fee are Virgin No Annual Fee Credit Card and Citi Simplicity Card.
Cheers,
Anndy
Hi there
I currently have a personal loan with another bank.
Im interested in finding out my options if i switched over the balance to a personal loan or credit card with you.
The things that interest me are:
Low interest rate for the first year or 2
Low or no annual fee
An offer to be rewarded with frequent flyer points or something similar
cheers
Hi Brendan, thanks for your inquiry!
Citibank and Virgin Money allow balance transfers from personal loans to credit cards. The comparison table provided on the page will allow you to compare credit cards based on interest rates, annual fees and frequent flyer points earnings.
Cheers,
Jonathan
What is the best card
How come one card has an interest rate of 9.9 and others are from 15 and up. We are looking to change our credit card and as we travel a lot we want a card that is able to be used anywhere in the world.
Hi Joyce, thanks for your inquiry!
Credit providers provide varying interest rates. You may like to compare travel credit cards which provide worldwide access and 0% foreign currency conversion fees.
Cheers,
Jonathan
Hi Charmaine,
Thank you for your question.
As a financial comparison service, however, we’re unable to recommend any specific product, service or strategy to our users as the ‘best’ option will always depend on the individual’s financial situation and needs.
I would recommend you compare different credit cards based on the offer provided and fees involved in conjunction with your financial situations and eligibility requirements.
I hope this has helped.
Sharon
i need the top rated service indian credit cards without annual fees
Hi Sujit, thanks for your inquiry!
Unfortunately at this point of time our comparison of credit cards is only comprehensive across Australia and includes the USA.
Cheers,
Jonathan
how to apply
Hi Ilisapeci, thanks for your inquiry!
When you have found a card that you would like to apply for just press the ‘Go to Site’ button and you will be redirected to a secure web-form from the respective bank.
I hope this helps.
Cheers,
Jonathan
Hello,
I have a question regarding American Express Platinum Edge card.
on this website it is mentioned that “No annual fee for the first year, a 10,000 bonus points offer and a complimentary return domestic flight every year” but on the american express card website there is no mention of annual fee getting waived off for the first year. Can you please confirm if the annual fee is waived off or not for the first year ?
I require an auxiliary credit card to my primary card to use for online purchasing ( for event tickets etc). I require a ‘No Fee for Life’ credit card and only require a low credit limit (to $2,000 max)with monthly balance paid in full within one week of receipt of monthly statement . Do I need to have an account with the issuing bank (HSBC, BoQ, etc) to obtain a Credit Card. Could someone advise my best option.
Hi Ray,
Thank you for your question.
As a finder.com.au is an online comparison service and are not aware of your unique financial situation, we can’t recommend one particular card for you.
However, you may wish to visit our No Annual Fee Credit Cards page here to review some of your options. To compare low limit credit cards, you can use our Low Limit Credit Cards page.
Depending on which issuer you decide on, you may not need to an existing account but you will need to sign up to open a new credit card account.
I hope this has answered your question.
Thanks,
Sally