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The closest you can get to free money – a no annual fee credit card allows you to buy what you need without having to pay a yearly fee for the account.
A no annual fee credit card is great in case of emergencies and can save you from paying for a card you don't really need. Some of these cards also offer other benefits like balance transfers and rewards. They're also an easy way to start building your credit score. Find the best no annual fee card for you when you compare your options below.
Offer ends 13 May 2021
Eligibility criteria, terms and conditions, fees and charges apply
Reward your spending with Flybuys points and save with 0% interest on balance transfers and purchases for the first 12 months.
A no annual fee credit card is a card that charges a $0 annual fee on an ongoing basis or waives it for the first year. While you're comparing, be sure to check the standard annual fee too.
*The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
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, making use of interest-free days and not paying an annual fee, your credit card could end up costing you nothing.
Some no annual fee credit cards offer the basics, while others boast additional features and benefits. This means you can compare credit cards that combine no annual fee with other features including introductory 0% interest rate offers, frequent flyer points, reward points and complimentary extras.
There isn't one "best" no annual fee credit card because everyone has different spending habits and makes use of different features. In the table below, we've highlighted some examples of $0 annual fee cards for you to compare.
Feature | Card | Current Offer | Annual Fee & Purchase Rate |
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Balance Transfer | Apply by 30 April 2021, to get a 0% p.a. interest rate for the first 24 months on balance transfers with no balance transfer fee. |
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Rewards | Offers the equivalent of 0.5 Flybuys points per $1 you spend on eligible purchases. |
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Frequent Flyer | Earns 0.75 Qantas Points per $1 spent on everyday purchases, 0.5 point / $1 with government bodies in Australia and an additional 1 Qantas Point per $1 spent on selected Qantas products and services in Australia, uncapped. |
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Travel | Offers 0% foreign transaction fees overseas and online with international merchants. Plus, complimentary overseas travel insurance. |
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As there are different types of $0 annual fee credit cards on the market, it's important to consider your financial situation and how you plan to use the card. Then you can weigh up the other benefits, costs and features to help you find a card that suits your needs.
If you're interested in getting a credit card with no annual fee, ask yourself these questions to help compare your options:
Yes, 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 it's charged, so you can arrange to cancel the account beforehand.
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.
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.
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).
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 are also other credit card fees that may apply for certain transactions (such as cash advances or purchases made in a foreign currency). But in most cases, 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 can use the card at no cost.
There are plenty of cards with no annual fee, but there are no cards that don't charge any fees at all. Other fees include late payment fees, cash advance fees, currency conversion fees etc. However, if you choose the right credit card and use it for everyday purchases and payments, you could avoid fees.
Yes, there are a few of these offers on the market. However, these features are generally 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.
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.
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.
Having a bad credit rating will limit your chances of being approved and getting a credit card, regardless of whether there's an annual fee. You can use our bad credit rating credit card guide to see what credit alternatives are available for applicants with a negative credit history.
To apply for a no annual fee credit card, you need to meet the bank's eligibility criteria. These could include a minimum annual income amount, Australian residency status and credit history details. If you're eligible to apply, you'll also be required to provide documents including payslips and proof of identification. The provider will then assess the details and documents you provide to determine whether you'll be approved for the account.
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Back to topMake the most of credit cards offering $0 annual fee in the first year and learn about other ways to save on this yearly cost with this guide to annual fees.
Share your credit card with a partner or family member but watch for extra costs. Compare cards and learn more about credit cards that offer free additional cardholders.
Compare no annual fee rewards credit cards and earn points on all eligible purchases without paying a yearly fee.
Save with low annual fees, competitive interest rates and modest credit limits with a no frills credit card.