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+
Standard
These cards offer no fees, but may have higher interest rates.
0+
Basic
These are basic cards with no annual fee.
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
Feature
Definition
Assessment
Weight
Annual Fee
Ongoing fees per year
Lower fees get higher scores, with $0 getting the highest score
30%
First-Year Fee
Introductory fee for the first year
Lower fees get higher scores, with $0 getting the highest score
20%
Interest-Free Days
The number of interest-free days
Higher number of interest-free days score more points, up to 55 days
10%
Value of points earned per month
Points earned for every dollar spent on eligible purchases
Points awarded per dollar
20%
Purchase Rate
Interest rate on new purchases
Lower rates receive higher scores
20%
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.
What we like about the Kogan Money Credit Card - Balance Transfer Offer:
You'll have exactly a year and a half to pay off existing debt with an introductory 0% interest rate.
While some credit cards offer a discounted or $0 annual fee in the first year, the Kogan Money Card never charges an annual fee.
You can also earn Kogan rewards points on the card. 1,000 Kogan points are worth $10 credit when shopping at Kogan, so this can really add up over a year of spending on the card.
Pros & cons
No annual fee
0% p.a. on balance transfers for 18 months
Uncapped reward points
Charges a one-time 2% balance transfer fee
High 22.74% p.a. interest rate for balance transfers after the introductory period
3.4% foreign currency fee
Best no annual fee cards: Heritage Bank Gold Low Rate Credit Card
The Heritage Bank Gold Low Rate Credit Card has a purchase rate that's lower than most credit cards and an ongoing $0 annual fee, not just a fee waiver for the first year. There's even a balance transfer offer if you're struggling with unpaid card debt.
This card has a Finder Score of 9.34 in the no annual fee category.
Pros & cons
0% p.a. for 12 months on balance transfers
$0 annual fee
Low interest rate of 11.8% p.a. on purchases and cash advances
No interest-free days on purchases
Charges a 3% foreign transaction fee
Best no annual fee cards: American Express Low Rate Credit Card
There is no annual fee for this card at all. It also has a low purchase rate and comes with complimentary card purchase cover.
This card has a Finder Score of 9.47 in the low rate category.
Pros & cons
Low 10.99% p.a. interest rate for purchases
Ongoing $0 annual fee
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
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.
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. "
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.
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.
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.
2025 Finder Credit Card Awards for No Annual Fee
Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. These cards might not currently have the most competitive deals but you can use them as a benchmark against the latest offers.
The Kogan Money Credit Card has a $0 annual fee permanently, and it lets you earn points. That's what made it this year's no annual fee credit card winner.
The Kogan Money Credit Card has a $0 annual fee permanently, and it lets you earn points. That's what made it this year's no annual fee credit card winner.
The Heritage Bank Gold Low Rate Credit Card has a $0 annual fee for the life of the card and a low purchase rate. That's why it's highly commended in the no annual fee category.
The Heritage Bank Gold Low Rate Credit Card has a $0 annual fee for the life of the card and a low purchase rate. That's why it's highly commended in the no annual fee category.
Frequently asked questions
If you have a card with a promotional $0 annual fee offer, the annual fee will usually be charged 12 months after you were approved for the credit card.
If you get a credit card that offers no annual fee in the first year, you can cancel it before the annual fee is charged in the second year. Just check your account details online or contact your credit card provider to find out exactly when the annual fee would be charged – and make sure you have paid off the balance – so you can cancel the account before that date.
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. You can check the terms and conditions or ask the credit card company to see if an ongoing waiver is possible, or compare cards with ongoing $0 annual fees instead.
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 can 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 compare credit cards and 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 $0 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.
Yes, there are a few no annual fee, low rate credit cards on the market. You can use the filters on Finder's comparison table to narrow down your search based on rates, fees and other features you want. But keep in mind that $0 annual fees and low rates are generally offered on separate cards – except when one of the features is promotional. For example, a $0 annual fee 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 a waived annual fee in the first year.
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.
Why you can trust Finder's credit card experts
Obsessed 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.
Save 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
No 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 is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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Finder guides across topics including:
I’m retired and on the pension and have assets in excess of $500k and access to at least $40k in cash. I want to apply for your credit card but don’t want to waste my time or yours if I don’t meet the requirement.
Finder
JacobMay 15, 2013Finder
HI Mary. Thanks for your question. If you’re looking to apply for a card, please refer to each card’s review and application page for a list of the minimum eligibility requirements. I can help you with your decision if you can provide the name(s) of a card(s) you’re interested in applying for. Jacob.
HiltonMay 9, 2013
Hi. We are being asked to “upgrade” from Westpac Earth Platinum to Earth Black: MasterCard and American Express. Earth Platinum points are capped and 0.5 pts per $1, and will go to 0.625 and 1.5 for the AMEX.
Earth Black annual fee is $395 and is waived whilst home loan package is current. We spend approx 2000 per month on our cards.
Should we upgrade?
Finder
JacobMay 10, 2013Finder
Hi Hilton,
Thanks for your question.
The fact that the annual fee is waived is a big bonus, you may have to make this decision for yourself and see what is best for you. There are some additional benefits to the Black Card, you can read the review of the Westpac Altitude Black to learn more about the card features and benefits.
If you were to stay with your current card and keep your current monthly spend at $2,000, you would be unaffected by the points cap of 3,750 Qantas Frequent Flyer points per statement cycle, which is one of the main reasons why people are taking up this offer.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob
DaveMay 6, 2013
Im thinking of moving my $3000 debit on my current commonwealth credit card to another credit card so i have longer to pay it off. What would be the charge for moving this to the hsbc card (that has no annual charge)?
Finder
JacobMay 6, 2013Finder
Hi Dave. Thanks for your question. Currently, there is no fee for processing a balance transfer. The only charges you will pay are the card’s annual fee and balance transfer promotional rate of interest (if applicable). Jacob.
RayMay 2, 2013
HSBC Card. Why does it show 17.99% on purchases then further down the list it advises Interest Free for up to 55 days??
Finder
JacobMay 2, 2013Finder
Hi Ray,
Thanks for your question.
Interest-free days are applied to all purchases provided that you are not carrying a balance from month to month, this includes a balance transfer amount, purchases, and cash advances that you have not paid from the previous statement period. If you are carrying a balance, then the standard rate for purchases will apply from the day you use your card to make a purchase. If you are wondering about how interest-free days work, you may check our guide to interest-free period. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob
caroleApril 26, 2013
Apparently I need to have a credit card to hire a car. They take an imprint of the card even although you’ve paid for the hire. I’d like a no interest card because I only want to use it for this type of thing on occasions. Can you be charged on an imprint only, when you are on holidays?
Finder
JacobApril 27, 2013Finder
Hi Carole,
Thanks for your question.
If they take an imprint of your card, it is most likely that they are just taking it in case they need to charge you for damage to the car, etc. You should speak to the merchant directly about this, if they plan to charge you, they will tell you about it. In regard to the no-interest credit cards. You can press the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
Make 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.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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Highly commended 
Obsessed 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.
Save 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
No 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.
I’m retired and on the pension and have assets in excess of $500k and access to at least $40k in cash. I want to apply for your credit card but don’t want to waste my time or yours if I don’t meet the requirement.
HI Mary. Thanks for your question. If you’re looking to apply for a card, please refer to each card’s review and application page for a list of the minimum eligibility requirements. I can help you with your decision if you can provide the name(s) of a card(s) you’re interested in applying for. Jacob.
Hi. We are being asked to “upgrade” from Westpac Earth Platinum to Earth Black: MasterCard and American Express. Earth Platinum points are capped and 0.5 pts per $1, and will go to 0.625 and 1.5 for the AMEX.
Earth Black annual fee is $395 and is waived whilst home loan package is current. We spend approx 2000 per month on our cards.
Should we upgrade?
Hi Hilton,
Thanks for your question.
The fact that the annual fee is waived is a big bonus, you may have to make this decision for yourself and see what is best for you. There are some additional benefits to the Black Card, you can read the review of the Westpac Altitude Black to learn more about the card features and benefits.
If you were to stay with your current card and keep your current monthly spend at $2,000, you would be unaffected by the points cap of 3,750 Qantas Frequent Flyer points per statement cycle, which is one of the main reasons why people are taking up this offer.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob
Im thinking of moving my $3000 debit on my current commonwealth credit card to another credit card so i have longer to pay it off. What would be the charge for moving this to the hsbc card (that has no annual charge)?
Hi Dave. Thanks for your question. Currently, there is no fee for processing a balance transfer. The only charges you will pay are the card’s annual fee and balance transfer promotional rate of interest (if applicable). Jacob.
HSBC Card. Why does it show 17.99% on purchases then further down the list it advises Interest Free for up to 55 days??
Hi Ray,
Thanks for your question.
Interest-free days are applied to all purchases provided that you are not carrying a balance from month to month, this includes a balance transfer amount, purchases, and cash advances that you have not paid from the previous statement period. If you are carrying a balance, then the standard rate for purchases will apply from the day you use your card to make a purchase. If you are wondering about how interest-free days work, you may check our guide to interest-free period. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
Cheers,
Jacob
Apparently I need to have a credit card to hire a car. They take an imprint of the card even although you’ve paid for the hire. I’d like a no interest card because I only want to use it for this type of thing on occasions. Can you be charged on an imprint only, when you are on holidays?
Hi Carole,
Thanks for your question.
If they take an imprint of your card, it is most likely that they are just taking it in case they need to charge you for damage to the car, etc. You should speak to the merchant directly about this, if they plan to charge you, they will tell you about it. In regard to the no-interest credit cards. You can press the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
I hope this helps.
Cheers,
Jacob