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No annual fee credit cards – perks without the pain

Fee-free credit cards that are still rich on benefits like rewards points, cash back, travel credits and free travel insurance.

No annual fee
Name Finder Score Annual fee Purchase rate p.a. Balance transfer rate p.a.
NAB Low Rate Credit Card
NAB Low Rate Credit Card image
Finder score
8.8
Annual fee
$0 first year ($59 after)
Purchase rate p.a.
13.49%
Balance transfer rate p.a.
0% for 28 months with 2% balance transfer fee, then 21.74%
Go to siteMore Info
Get a 0% p.a. interest rate on balance transfers for the first 28 months (with a 2% BT fee). Plus, save with a $0 first-year annual fee.
ANZ Platinum Credit Card
ANZ Platinum Credit Card image
Finder score
5.2
Annual fee
$0 first year ($87 after)
Purchase rate p.a.
20.99%
Balance transfer rate p.a.
21.99%
Go to siteMore Info
Get $300 back on your card when you spend $1,500 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
Qantas American Express Discovery Card
Qantas American Express Discovery Card image
Qantas Frequent Flyer
Finder score
1
Annual fee
$0
Purchase rate p.a.
23.99%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Earn uncapped Qantas Points for every $1 dollar spent, plus a $0 annual fee.
Coles No Annual Fee Mastercard - Bonus Points Offer
Coles No Annual Fee Mastercard - Bonus Points Offer image
Flybuys
Finder score
5.9
Annual fee
$0
Purchase rate p.a.
0% for 6 months, then 19.99%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Special Offer: Get 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) and 0% interest on purchases for the first 6 months. Ends 30 June 2024.
American Express Velocity Escape Card
American Express Velocity Escape Card image
Velocity Frequent Flyer
Finder score
2.4
Annual fee
$0
Purchase rate p.a.
23.99%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Save with a $0 annual fee and earn 0.75 Velocity Points per $1 on everyday purchases.
American Express Platinum Edge Credit Card
American Express Platinum Edge Credit Card image
Membership Rewards
Finder score
3.2
Annual fee
$0 first year ($195 after)
Purchase rate p.a.
23.99%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Save with a $0 annual fee in the first year. Plus, $200 Travel Credit every year.
American Express Low Rate Credit Card
American Express Low Rate Credit Card image
Finder Award
Finder score
9.5
Annual fee
$0
Purchase rate p.a.
10.99%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Offers a low ongoing interest rate of 10.99% p.a. and a $0 annual fee. Plus, complimentary purchase cover.
Kogan Money Card – Exclusive Offer
Kogan Money Card – Exclusive Offer image
Exclusive
Kogan Rewards Program
Finder score
5.9
Annual fee
$0
Purchase rate p.a.
9.99% for 18 months, then 20.99%
Balance transfer rate p.a.
0% for 18 months with 2% balance transfer fee, then 21.74%
Go to siteMore Info
Save with 0% p.a. interest on balance transfers (with a 2% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
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Finder's best no annual fee credit card offers for June

Here are some of the top scoring no annual fee credit cards on the market:

Updated 6 June 2024 by Finder's money editor, Richard Whitten.

The lowdown on Finder Score

To qualify for this category, credit cards must:

  • Charge no annual fee for at least 12 months.

Every month, we carefully analyse over 300 credit card products and assess the most important features and benefits of each card.

We assign scores out of 10 for each feature, and adjust the scores depending on what category we're looking at.

Credit card scores are category-specific (e.g. No annual fee, Rewards), meaning the same card will receive a different score within each category.

Our score methodology is designed by our editorial and insights team. Products are reviewed objectively and commercial partners carry no weight. There is no best for all, and we encourage you to consider your own financial needs when making a decision.

Finder Score by the numbers

  • 9+ Excellent - These cards offer the lowest ongoing purchase rates, high number of interest free days, and may earn rewards points - all for no annual fee.
  • 7+ Great - Reasonable ongoing purchase rates and interest free days.
  • 5+ Satisfactory - These cards offer no fees, but may have higher interest rates.
  • Less than 5 – Basic - These are basic cards with no annual fee.

Best no annual fee cards - MOVE Bank Low Rate Credit Card

MOVE Bank Low Rate Credit Card

  • 0% Balance Transfer Offer & $0 First-Year Annual Fee
  • $0 Annual fee
  • 8.99% Purchase rate

Pros & cons

  • 0% p.a. on balance transfers for 6 months
  • $0 annual fee for the first year ($59 p.a. thereafter)
  • Ongoing low purchase interest rate of 8.99% p.a.
  • Does not offer a rewards program or travel insurance covers
  • Only offers up to 45 days interest-free on purchases, as opposed to most cards with 55 days

Why we like it

  • This card has no annual fee in the first year and a low fee in the following years.
  • The card's purchase rate of 8.99% is very low compared to most cards on the market.

Best no annual fee cards - American Express Low Rate Credit Card

American Express Low Rate Credit Card

  • Low Rate & No Annual Fee
  • $0 Annual fee
  • 10.99% Purchase rate

Pros & cons

  • Low 10.99% p.a. interest rate for purchases
  • Ongoing $0 annual fee
  • Up to 4 additional cardholders
  • Complimentary card purchase cover and card refund cover
  • $30 late payment fee if you miss your minimum repayment
  • 3% foreign currency conversion fee
  • No rewards program

Why we like it

  • There is no annual fee for this card at all.
  • The cards also has a low purchase rate and comes with complimentary card purchase cover.

Best no annual fee cards - Bankwest Zero Platinum

Bankwest Zero Platinum Mastercard

  • No Annual Fee & 0% Balance Transfer Offer
  • $0 Annual fee
  • 14.99% Purchase rate

Pros & cons

  • 0% p.a. on balance transfers for 28 months
  • 0% foreign transaction fees online and overseas
  • 3 additional cardholders at no extra cost
  • Even with a $0 annual fee and 14.99% p.a. purchase rate, you must still be approved for a $6,000 minimum credit limit.
  • Charges a one-time 3% balance transfer fee

Why we like it

  • The Bankwest Zero Platinum Mastercard has a $0 annual fee and 0% foreign transaction fees.
  • It also has an introductory rate of 0% p.a. on balance transfers for 28 months, with a 3% BT fee.
  • Bankwest is one of the few providers that offers a digital card you can use straight away once you're approved and activate your account.

How does a credit card with no annual fee work?

A no annual fee credit card allows you to shop and spend, without having to pay a yearly fee for the account. This can save you from $25 to as much as $1,450 for credit cards with an annual fee.

Just like other cards, interest and other charges may apply. But if you pay off the balance in full each month – and can get interest-free days on purchases – it’s the closest you can get to free credit.

Finder's database contains every credit card we could find on the market, including some that offer balance transfers, rewards and other benefits. Right now, there are 44 credit cards on the market that charge no annual fee, ever.

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 means you can leave it in your wallet without worrying about it costing you when you're not using it.
  • Promotional offers and perks. Depending on the card you choose, you can get big bonus points offers, 0% balance transfers and other perks as well as a $0 annual fee for the first year or ongoing.

Cons

  • Higher interest rates. These cards typically charge 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.
  • Fewer extra features. While some no annual fee cards do come with rewards and other benefits, they typically boast fewer features than cards with a higher annual fee.
  • Temporary $0 annual fee. Unfortunately, not all of these cards offer a $0 annual fee for the life of the card. If your card only waives the annual fee for the first year, make sure you know the standard annual fee and when it will apply.

A $0 annual fee credit card saves you money up front, but make sure you get the most from it. Always pay it off every month in full - once you're paying interest, the card isn't free. And look for other features as well - if you can earn frequent flyer points, you can save real money on travel just by using your card for everyday purchases.


Types of no annual fee credit cards

Some no annual fee credit cards offer the basics, while others have more features and benefits. This means you can compare credit cards that combine a $0 annual fee with other features, including introductory 0% interest rate offers, frequent flyer points, reward points and complimentary extras. Here are some examples.

FeatureCardCurrent OfferAnnual Fee & Purchase Rate
Balance Transfer

ANZ Low Rate
ANZ Low Rate

Get a 0% p.a. interest rate for the first 28 months on balance transfers with a 3% balance transfer fee.
  • $0 annual fee in the first year ($58 after)
  • 13.74% p.a.
Rewards

Coles No Annual Fee Mastercard
Coles no annual fee credit card

Offers the equivalent of 0.5 Flybuys points per $1 you spend on eligible purchases.
  • $0
  • 19.99% p.a.
Frequent Flyer

Qantas American Express Discovery
Qantas American Express Discovery credit card

Earns 0.75 Qantas Points per $1 spent on everyday purchases, 0.5 point / $1 with government bodies in Australia and an additional 1.75 Qantas Point per $1 spent on selected Qantas products and services in Australia, uncapped.
  • $0
  • 23.99% p.a.
Travel

Bendigo Bank Ready Credit Card
Bendigo Bank Ready Credit Card

Offers 0% foreign transaction fees overseas and online with international merchants. Plus, complimentary overseas travel insurance.
  • $0
  • 19.99% p.a.

How to find the right no annual fee credit card

Ask yourself these questions to help compare your options:

      • How often do you use your credit card? Finder research shows 41% of Australians got their most recent credit card for emergencies. If you rarely use a credit card but want one for unplanned expenses or emergencies, getting one with no annual fee helps you save on costs when you're not using it.
      • Do you carry a balance? Some no annual fee credit cards have high interest rates that are better suited to cardholders who pay their balance in full each statement period. If you regularly carry a balance, you might want to consider a low interest credit card instead.
      • Do you have existing debt? You could consider a balance transfer credit card to save money on interest charges for an introductory period. Or, focus on paying off your current debts before you get a new credit card.
      • Will you use the credit card after a $0 annual fee promotion ends? If it doesn't have a competitive interest rate or enough extra features to outweigh the ongoing cost, you might want to cancel the card before the annual fee is charged.
      • What other credit card fees and charges will you pay? As well as interest rates, make sure you check for other credit card fees that could apply, including foreign transaction fees, late payment fees and cash advance charges.

Interest-free 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. So if you pay your account in full, make use of interest-free days and don't have an annual fee, your credit card could cost you nothing.

Frequently asked questions

Why you can trust Finder's credit card experts

freeYou pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
expert adviceYou save time. We spend 100s of hours researching credit cards so you can sort the gold from the junk faster.
independentYou compare more. Our comparison tools bring you more credit cards from across the market.

2024 Finder Award winner and finalists

Find out which brand took first place at the 2024 Finder Awards for no annual fee credit cards.

Every year the Finder Credit Card Awards honor Australia's best credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Offers change regularly, so these cards may not currently have the most competitive deals but you can use them as a benchmark.

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126 Responses

    Default Gravatar
    ROTARYMay 14, 2024

    We are haven Bunnings BBQ at Pakenham on Saturday18th i was told to register with you for the qr code so how do i go about this Peter r

      AvatarFinder
      SarahMay 17, 2024Finder

      Hi Peter,

      I’m not quite sure what you need, we’re a review and comparison site. If you need assistance with accepting digital or card payments, I suggest you contact your bank. Best of luck with the BBQ!

    Default Gravatar
    ColinMarch 17, 2018

    Looking for a credit card with no annual fee and reward points on purchases.

      AvatarFinder
      JhezelynMarch 17, 2018Finder

      Hi Colin,

      Thank you for your comment.

      You may compare no annual fee credit cards with rewards. These types 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

    Default Gravatar
    TerryApril 11, 2017

    What about ING credit cards ?

      AvatarFinder
      HaroldApril 12, 2017Finder

      Hi Terry,

      Thank you for your inquiry.

      Should you need to know more, please check our article about ING credit card products.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    EddyDecember 26, 2016

    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.

      AvatarFinder
      MayDecember 26, 2016Finder

      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 read our stolen credit card guide.

      Hope this helps.

      Cheers,
      May

    Default Gravatar
    NanetteNovember 2, 2016

    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??

      AvatarFinder
      DeeNovember 2, 2016Finder

      Hi Nanette,

      Thanks for your question.

      Please check the Qantas frequent flyer credit cards featured on our website to compare credit cards that offer bonus Qantas points. You can also check the annual fee for each card on the same page.

      Cheers,
      Anndy

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