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No Annual Fee Credit Card with Rewards

Information verified correct on April 27th, 2017

Discover how you can earn points and keep costs low with a no annual fee rewards credit card.

The many perks available with a rewards credit card have made them a popular product. Not only can you earn points that you can redeem for flights, cash or merchandise, you can also get access to extras such as complimentary travel and purchase insurance, airport lounge access and personalised concierge services.

Unfortunately, most rewards credit cards also have high annual fees that offset the value of these benefits. But there are a handful of cards available that have no annual fee and offer rewards. Here, you can find out more about no annual fee rewards cards, compare your options and find out what else you should consider when choosing a card.

Sponsorship - NAB Rewards Platinum Card - Rewards Offer - PE-39853

Rewards Credit Card Offer

With a new NAB Rewards Platinum Card, earn 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days. Plus, enjoy $0 annual card fee for the first year.

  • Earn 80,000 bonus points when you spend $2,500 on everyday purchases within the first 90 days of account opening.
  • Save with a $0 annual card fee for the first year.
  • Redeem 80,000 bonus points for $400 in vouchers to use at Coles, BP, Bunnings, David Jones, GoodFood, JB Hi-Fi and more.
  • Earn triple points with Webjet, when travelling overseas or on overseas purchases made in Australia. Intl transaction fees apply.
  • Eligibility criteria, T&Cs, fees and charges apply.

    A comparison of no annual fee credit cards with rewards points

    Rates last updated April 26th, 2017.

    ANZ Rewards Credit Card

    A new offer of $250 Westfield Gift Card on eligible spend plus $0 annual fee for the first year.

    March 1st, 2017

    ANZ Frequent Flyer Black

    A new offer of 75 Bonus Status Credit which is valid until 30 June 2017.

    March 8th, 2017

    American Express Platinum Edge Credit Card

    First year annual fee waiver, 0% balance transfer and 5,000 bonus points offers have been extended.

    March 28th, 2017

    View latest updates

    Jonathan Choi Jonathan
    Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Bonus Points Annual fee
    NAB Rewards Platinum Card
    Enjoy 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval. Benefit from $0 annual fee for the first year and a range of platinum features.
    1 80,000 bonus points $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
    American Express Essential®  Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
    1 $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    1 0 $149 p.a. Go to site More info
    Coles No Annual Fee MasterCard
    Pay no annual fee ever and receive $50 off a single Coles Supermarket shop when you apply and get approved by 30 April 2017.
    0.5 0 $0 p.a. Go to site More info
    American Express Velocity Escape Card
    Enjoy 7,500 bonus Velocity Points when you apply online and meet the minimum spend requirement, plus earn up to 2 points for every $1 you spend, together with a $0 annual fee.
    1 7,500 bonus points $0 p.a. Go to site More info
    Qantas American Express Discovery Card
    Earn 1 point per $1 spent plus enjoy 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
    1 $0 p.a. Go to site More info
    ANZ Frequent Flyer Black
    Receive 75,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months, plus earn up to 1 point for every dollar spent on eligible purchases. Also, earn 75 Bonus Status Credits when you apply by 30 June 2017, buy and fly return with Qantas by 30 September 2017.
    1 75,000 bonus points $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
    ANZ Frequent Flyer Platinum
    Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months. Enjoy a waived annual fee for the first year and earn up to 0.750 Qantas Points for spending.
    0.75 50,000 bonus points $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
    American Express Platinum Edge Credit Card
    Receive 5,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy a $200 travel credit every year and pay no annual fee for the first year.
    0 1 5,000 bonus points $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
    NAB Rewards Classic Card
    Receive 40,000 bonus points when you spend $1,500 on everyday purchases within 90 days from card approval, earn rewards points per $1 spent, and enjoy a $0 annual fee for the first year.
    0.75 40,000 bonus points $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
    ANZ Rewards Platinum
    Receive $250 Westfield Gift Card when you spend $2,500 within 60 days from card approval, earn up to 1.5 points per $1 spent on eligible purchases, plus enjoy a 0 annual fee for the first year.
    1.5 $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
    ANZ Rewards Black Credit Card
    Receive a $250 Westfield Gift Card when you spend $2,500 in the first 60 days from approval and $0 annual fee for the first year. Earn up to 2 reward points per $1 spent and unlimited access to airport lounges with complimentary travel insurance.
    2 $0 p.a. annual fee for the first year ($375 p.a. thereafter) Go to site More info
    ANZ Rewards Credit Card
    Receive $250 Westfield Gift Card when you spend $2,500 in the first 60 days from approval, earn up to 1 point per dollar spent on eligible purchases, plus enjoy a $0 annual fee for the first year.
    1 $0 p.a. annual fee for the first year ($80 p.a. thereafter) Go to site More info
    NAB Rewards Business Platinum Card
    Enjoy 80,000 bonus points when you meet the spend criteria, earn 1 rewards point per $1 spent and enjoy a $0 annual card fee for the first year.
    1 80,000 bonus points $0 p.a. annual fee for the first year ($175 p.a. thereafter) Go to site More info
    Woolworths Everyday Platinum Credit Card
    Receive a $100 eGift Card when you apply by 30 June 2017 and make an eligible purchase by 31 July 2017. Also, enjoy a long-term balance transfer offer and an annual fee waiver for the first year.
    1 0 $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info

    finder.com.au's comparison of no annual fee rewards credit cards

    If you don't want to pay an annual fee but still want to ear rewards, compare your options in the table below.

     Credit Card Bonus Points Points Earning
    80,0001
    7,5001
    5,0001

    Types of no annual fee rewards credit cards

    These are three main types of rewards credit card with no annual fee:

    • No annual fee rewards cards. These cards usually offer points as part of a credit card rewards program such as CommBank Awards or American Express Membership Rewards. These programs offer rewards that usually include travel, merchandise, cash and point transfers to frequent flyer programs.
    • No annual fee frequent flyer credit cards. Frequent flyer credit cards offer great rewards for regular globetrotters. These are similar to rewards cards in the way they earn points per dollar spent, except that you can only redeem your points within the frequent flyer program of that specific airline. A few frequent flyer credit cards charge no annual fees, including the Virgin No Annual Fee Credit Card and Qantas American Express Discovery Card.
    • Promotional offer rewards cards. Some frequent flyer and rewards credit cards may come with a waived or reduced annual fee during the first year. You typically have to pay the full annual fee from the second year onward. This makes it important to look for details or disclaimers on any promotions so that you’re aware of any ongoing costs that apply after the first 12 months.

    Benefits of no annual fee rewards cards

    Here are some of the benefits you can enjoy with a no annual fee rewards credit card:

    • Bonus points offers.
      Many rewards credit cards offer bonus points to new cardholders for signing up. However, you might have to spend a certain amount on eligible purchases to unlock and receive your bonus points. For example: “Enjoy 30,000 bonus points when you spend $3,000 within the first 3 months of account opening.”
    • Earn points for every dollar you spend.
      As with all rewards cards, you will earn a specific number of points per dollar spent on eligible transactions. You can redeem these points for merchandise, gift and shopping vouchers, lifestyle products and services.
    • Access to 0% purchase rate offers.
      This feature is popular among rewards credit cards as part of an introductory promotion. While the promotional period lasts, you can save money on interest fees and carry your card balance for longer periods without accruing any interest. But when the promotional period ends, any remaining balance will accrue interest at the standard rate for that card.
    • Interest-free days on your purchases.
      Interest-free days refer to the number of days you will not be charged interest on your purchases, typically 45 or 55 days, providing you pay off your account each statement period. Learn how your credit card interest-free period works.
    • Chance to add additional cardholders.
      Additional cardholders on your credit card account can help you earn reward points faster. Some cards may charge a fee for each additional cardholder, although many of them offer this feature for free.
    • A range of  complimentary extras.
      Depending on the rewards card, you may also enjoy perks such as complimentary travel insurance, purchase protection, extended warranty on purchases, airport lounge access and concierge services. Higher status cards like black credit cards will offer more complimentary extras than platinum cards and gold cards. Note that no annual fee rewards cards may not offer as many complimentary extras as rewards cards that charge an annual fee (as the fee can help offset the costs for the provider).

    What else should I consider?

    There are a number of other features and details you will need to consider when comparing rewards credit cards with no annual fees:

    • Purchase rate.
      If you carry a balance on your credit card, a high purchase rate can result in exorbitant interest fees over time. With 0% purchase rate promotional offers, the standard purchase rate will kick in once your promotional period is over.
    • Cash advances.
      The cash advance interest rate is usually higher than the purchase interest rate, and you will also be charged a cash advance fee for each transaction. Also, cash advances are ineligible for reward points. Learn more about what constitutes a cash advance.
    • Balance transfers.
      Some rewards cards may offer 0% balance transfer promotions when you sign up. This means you can transfer an existing credit card debt over to your new card and enjoy an interest-free period on that balance. Balance transfers may not be eligible for interest-free days on your credit card when carrying an outstanding balance. This may result in high interest fees on new purchases. Balance transfers are also not eligible for earning reward points.
    • Eligible transactions.
      Most purchases are considered eligible transactions for earning rewards on your card, with the common exceptions of cash advances, balance transfers, gambling transactions, government payments, bank fees and bill payments. Consult your card provider or product disclosure statement for your card’s specific definition and exclusions.
    • Other fees.
      Other fees, such as ATM fees, late payment charges and over-limit fees, may be applied to your account. International transaction fees will also apply to overseas transactions and internet purchases made with foreign merchants.
    • Point expiry.
      Most reward programs have an expiry date for the points you accumulate. It’s easy to lose track of this if you are not a big spender and don’t regularly earn enough rewards points to make frequent redemptions.
    • Point cap.
      Some rewards credit cards limit the amount of points you can earn each statement cycle or year. Make sure you consider this cap before choosing a card, so that you can find one that offers the most convenient limits based on your spending habits.

    If you’re keen to earn reward points on your everyday spending but don’t want to pay high fees, it’s worth considering a credit card that offers rewards without an annual fee. As always, we recommend that you research all available options and compare cards in relation to your personal needs and spending habits so you can choose the one that’s right for you.

    Picture: Shutterstock

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    8 Responses to No Annual Fee Credit Card with Rewards

    1. Default Gravatar
      chris | February 9, 2015

      how much income do you have to earn for a credit card ???

      • Staff
        Jonathan | February 9, 2015

        Hi Chris, thanks for your inquiry!

        The minimum income requirements vary depending on the lender and type of credit card. You can see the income requirement by viewing the ‘Application Requirements’ tab on any credit card page.

        I hope this helps.

        Cheers,

        Jonathan

    2. Default Gravatar
      PAM | April 30, 2014

      Is Coles credit card for Australian use only or can it be used for overseas travel?

      • Staff
        Shirley | May 1, 2014

        Hi Pam,

        Thanks for your question.

        You can use the Coles credit card overseas, but you’ll be charged a currency conversion fee for all transactions done in a currency other than AUD.

        If you’re looking at travel money options, please see this page.

        Cheers,
        Shirley

    3. Default Gravatar
      fahad | September 10, 2013

      hi there,
      i’m after a no annual fee credit card with rewards programme attached to it. i’m after either visa or mastercard.
      could you point me in the right direction please?
      cheers,
      F.

      • Staff
        Jacob | September 10, 2013

        Hi Fahad.

        The page you’re on has the only three rewards cards with no annual fee – two are offered by American Express and one is offered by Coles.

        Thanks for your question.

        Jacob.

      • Default Gravatar
        Natakusuma | November 5, 2013

        Jacob,

        I am after a Visa credit card with rewards points. There doesn’t seem to have one does it?

        regards,

      • Staff
        Jacob | November 6, 2013

        Hi, Natakusuma.

        Thanks for your question.

        You can compare credit cards that offer rewards points on this page. You can use the check boxes to the left of the table to compare cards one on one or you can read a card’s review by clicking on the image or card name. I hope this helps.

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