No annual fee credit cards – Finder’s best picks

Compare 45+ no annual fee credit cards. We've rounded up some of the best cards on the market in December 2024.

Name Finder Score Annual fee Purchase rate p.a. Balance transfer rate p.a.
Kogan Money Card – Exclusive Offer
Kogan Money Card – Exclusive Offer image
Exclusive
Kogan Rewards Program
Finder score
Annual fee
$0
Purchase rate p.a.
9.99% for 18 months, then 21.99%
Balance transfer rate p.a.
0% for 18 months with 1% balance transfer fee, then 22.74%
Go to siteMore Info
Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Coles No Annual Fee Mastercard
Coles No Annual Fee Mastercard image
Flybuys
Finder score
Annual fee
$0
Purchase rate p.a.
20.74%
Balance transfer rate p.a.
N/A
Go to siteMore Info
Get 10,000 bonus Flybuys points (worth $50 Flybuys dollars) when you spend $3,000 on eligible purchases in the first 3 months.
ANZ Platinum Credit Card
ANZ Platinum Credit Card image
Finder score
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 $100 back on your card when you spend $2,000 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
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Finder's best no annual fee credit card offers for December

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

Updated December 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 250 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 Finder Score methodology is designed by our editorial and insights team. Products are reviewed objectively and commercial partners carry no weight. Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you.

Annual fee credit cards - score weightings

FeatureDefinitionAssessmentWeight
Annual FeeOngoing fees per yearLower fees get higher scores, with $0 getting the highest score30%
First-Year FeeIntroductory fee for the first yearLower fees get higher scores, with $0 getting the highest score20%
Interest-Free DaysThe number of interest-free daysHigher number of interest-free days score more points, up to 55 days10%
Value of points earned per monthPoints earned for every dollar spent on eligible purchasesPoints awarded per dollar20%
Purchase RateInterest rate on new purchasesLower rates receive higher scores20%

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.

No annual fee business credit cards

There are a few business credit cards that don't charge an annual fee. At least in the first year. But almost all of them charge an annual fee in the second year.

The CommBank Business Low Rate Credit Card has a permanent $0 annual fee.

Best no annual fee cards: Kogan Money Card – Exclusive Offer

Kogan Money Card – Exclusive Offer

  • 0% Balance Transfer & 9.99% Purchase Rate Offers
  • $0 Annual fee
  • 21.99% Purchase rate

Pros & cons

  • No annual fee
  • 0% p.a. for 18 months on balance transfers
  • Low 9.99% p.a. purchase rate for 18 months
  • Uncapped reward points
  • Complimentary Kogan First membership
  • Balance transfer offer has a 1% BT fee
  • A high 22.74% p.a. interest rate on balance transfers after the introductory period
  • A 21.99% p.a. interest rate on purchases applies at the end of the introductory period
  • No interest-free days if you have a balance transfer

Why we like it

The Kogan Money Card – Exclusive Offer is a genuine $0 annual fee card. Not just for the first year. You can earn rewards when you shop at Kogan and there's a decent balance transfer offer too.
This card has a Finder Score of 9.45 in the no annual fee category.

Best no annual fee cards: HSBC Premier World MasterCard - Qantas Frequent Flyer

HSBC Premier World MasterCard - Qantas Frequent Flyer

  • Up to 1.5 Qantas Points per $1
  • $0 Annual fee
  • 19.99% Purchase rate

Pros & cons

  • Up to 1.5 Qantas Points per $1 on eligible spending
  • $0 annual fee
  • Complimentary domestic and international travel insurance
  • Airport lounge access through Mastercard Airport Experiences/LoungeKey
  • No introductory bonus points offer
  • 3% foreign transaction fee

Why we like it

The HSBC Premier World Mastercard lets you earn Qantas Points on your spending at a high rate. And it has no annual fee at all, plus perks like complimentary travel insurance.
This card has a Finder Score of 9.9 in the no annual fee category.

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.
  • How does a credit card with no annual fee work?

    Most credit cards charge an annual fee. No annual fee credit cards don't. Given that annuals fees start from around $50 for low rate cards, and up to $450 or more for frequent flyer cards, you can save a bit with a 0 annual fee credit card.

    Some cards charge $0 in the first year only. But right now there are 30 credit cards on the market that charge no annual fee, ever.

    Angus Kidman's headshot
    Our expert says: No annual fee doesn't mean free

    "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. "

    Editor-at-large

    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.

    Types of no annual fee credit cards

    Some no annual fee credit cards are basic cards for spending that don't offer many perks or extras. But some have balance transfer offers, reward points or complimentary extras.

    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
    • 20.74% p.a.
    Frequent Flyer

    Qantas American Express Discovery

    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

    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.

    Why you can trust Finder's credit card experts

    helpObsessed with offers - You want all the perks and none of the fees, and we want that for you too. So we're tracking all the current no-fee cards, in one handy guide.
    freeSave yourself some time. Why waste 100s of hours researching no-fee credit cards, when we've done the hard yards for you? Simply sit back, sort the options and get the card that suits your needs
    independentNo BS. We'll explain how all the credit card fees work and how you can avoid interest – and we'll always explain it all in plain English.
    Richard Whitten's headshot
    Editor

    Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

    Richard's expertise
    Richard has written 558 Finder guides across topics including:
    • Home loans
    • Property
    • Personal finance
    • Money-saving tips

    More guides on Finder

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    128 Responses

      Default Gravatar
      FranAugust 8, 2024

      Latitude has just informed me that they are introducing a card fee of $8 per month from September 2024. What is the best credit card option now for travel o/s to avoid the international transaction fees but still have no card fees? I already have the debit card situation sorted.

        AvatarFinder
        SarahAugust 9, 2024Finder

        Hi Fran,

        You can review a range of options here.

        Hope this helps!

      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

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