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Finder Awards 2020 Best No Annual Fee Credit Card

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This card features an ongoing $0 annual fee, 8.99% p.a. purchase interest rate and up to 55 days interest-free.

Finalists:

Methodology: Best No Annual Fee Credit Card

Here's how our expert analysts assessed the Best No Annual Fee Credit Card category to pick the 2020 winner.

Selection and scoring

Products were selected from the broader market that met these criteria:

  • Cards must charge no annual fee
  • Cards offering no fee for a limited period will not be included
  • Cards must not require loans or specific amounts of savings as eligibility criteria

Scores were awarded out of 10 for each product metric, based on how each metric compares to the other products in a given category.

Scores for each metric were then weighted:

  • Purchase interest rate: 80%
  • Interest-free days: 10%
  • Rewards program: 10%

Tiebreakers were ranked by the lowest interest rate.

Availability criteria

Product must be available at the time of award announcement.
Products were analysed and compared to the market on the following dates:

  • 1/9/19 (Q1)
  • 1/12/19 (Q2)
  • 29/2/20 (Q3)
  • 32/5/20 (Q4)

Products must have been in the market for at least two of the four quarters, including the most recent quarter.
Quarters were weighted as follows unless otherwise stated (with Q4 being the most recent quarter):

  • Q4: 50% of final score
  • Q3: 25% of final score
  • Q2: 12.5% of final score
  • Q1: 12.5% of final score

For products only available in three quarters, the weighting is as follows:

  • Q4: 50% of final score
  • Q3: 35% of final score
  • Q2: 15% of final score

For products only available in two quarters, the weighting is as follows:

  • Q4: 60% of final score
  • Q3: 40% of final score

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