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Compare the cheapest credit cards*

Whether you want to clear your debt, save on fees or cut down on interest costs, compare some of the cheapest credit card offers* in Australia.

Credit cards can be a great way to free up cash flow while building your credit history, but they often come with expensive rates and fees. In this guide, we've rounded up some of the cards with the most competitive interest rates and fees to help you save on standard card costs. So whether you want to consolidate and clear your debt with a 0% balance transfer, pay no annual fee or save with a card with a low interest rate, you can compare and find the cheapest cards for your needs here.

Compare credit cards with low rates and fees

Rates last updated May 27th, 2018
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
NAB Low Rate Platinum Card
0% p.a. for 9 months (reverts to 13.99% p.a.)
Up to 55 days on purchases
$100 p.a.
0% p.a. for 6 months with 2% balance transfer fee
A platinum card that offers 0% p.a. for 9 months on purchases. Plus 0% p.a. on balance transfers for 6 months.
Westpac Low Rate - Online Offer
13.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
0% p.a. for 26 months with 2% balance transfer fee
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
HSBC Low Rate Credit Card
13.25% p.a.
Up to 55 days on purchases
$79 p.a.
0% p.a. for 20 months with 2% balance transfer fee
Add additional cardholders for $0 and pay using Apple Pay. Also enjoy exclusive offers with the home&Away Privilege Program.
Virgin Money Low Rate Credit Card
11.99% p.a.
Up to 44 days on purchases
$49 p.a.
0% p.a. for 14 months
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and 0% p.a. for 14 months on balance transfers.
St.George Vertigo Visa
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 1% balance transfer fee
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
NAB Low Rate Credit Card
0% p.a. for 6 months (reverts to 13.99% p.a.)
Up to 55 days on purchases
$59 p.a.
0% p.a. for 6 months with 2% balance transfer fee
This card offers a low introductory rate of 0% p.a. for 6 months on purchases. Plus 0% p.a. on balance transfers for 6 months.
BankSA Vertigo Visa
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 1% balance transfer fee
A no-frills Visa with the protection of a zero liability policy and a 24/7 fraud monitoring service.
Bank of Melbourne Vertigo Visa Credit Card
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 1% balance transfer fee
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
Bank of Melbourne Vertigo Platinum Card - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Online only: Enjoy 0% p.a. interest for 24 months on balance transfers (with a one-time 1% BT fee). Plus, a $0 first year annual fee.
BankSA Vertigo Platinum - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first year.

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How to compare the cheapest credit cards* in Australia

The cheapest credit card for you will depend on how you plan to use it. For example, if you want to pay off an existing balance over time, a card with a 0% promotional balance transfer interest rate might be the cheapest option. If you hardly ever use your credit card or always pay your balance in full, it might be less expensive to get a card with a $0 annual fee. If you're travelling overseas or shopping online, a card 0% foreign fees could help you avoid hefty conversion fees. Or if you're using your card for purchases, you could opt for a card with a low or 0% interest rate on purchases or a card that offers interest-free days when you pay your balance in full. From 0% balance transfer deals to no annual fee cards, you can compare different types of credit cards to find the right one for you below.

Credit cards with low or 0% interest rates

If you don't think you can pay off your balance by the statement due date and you regularly carry a balance from month to month, you can compare cards with 0% promotional purchase rates or low standard variable rates of interest. If the card has a 0% purchase rate, it'll usually only apply for a promotional period (which can often vary between 3 to 12 months). After the introductory period ends, the standard purchase rate will apply to any remaining balances.

If you'd prefer a card with a low purchase rate that applies longer than a promotional period, a low standard variable rate of interest might be better for you. These cards usually come with purchase rates between 9.90% and 13.49% (although it varies), which is much lower than other products which can have purchase interest rates of up to 22%. Although you'll still have to pay interest if you're carrying a balance between statement periods, the overall costs will be much lower than if you opted for a card with a high compounding interest rate.

Who are low interest credit cards best suited to?

  • Good if: You want to pay off your purchases over time or often carry a balance on your card.
  • Bad if: You’re an infrequent spender or always pay your balance in full by the end of the statement period, as you won't get much benefit from a 0% purchase rate if you don't usually carry a balance from month to month.

How much can I save with a 0% purchase rate credit card?

To help you decide if this type of credit card will be cheap for you, let's say you spent $2,000 on a credit card with an interest rate of 21.99% p.a. and planned to pay $200 off it each month. At this rate, it would take you 12 months to pay off the debt and cost you$229.66 in interest.

In comparison, if you spent $2,000 on a credit card with a promotional 0% p.a. on purchases for 12 months and made the same $200 payments each month, you'd clear the debt in 10 months and pay $0 in interest.

Compare credit cards offering 0% on purchases

Rates last updated May 27th, 2018
$
Name Product Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period Amount Saved
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$129 p.a.
Up to 44 days on purchases
NAB Low Rate Platinum Card
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
0% p.a. for 9 months (reverts to 13.99% p.a.)
0% p.a. for 6 months with 2% balance transfer fee
$100 p.a.
Up to 55 days on purchases
NAB Low Rate Credit Card
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.
0% p.a. for 6 months (reverts to 13.99% p.a.)
0% p.a. for 6 months with 2% balance transfer fee
$59 p.a.
Up to 55 days on purchases

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Credit cards with interest-free days

Many credit cards offer interest-free days for each statement period, which usually range from up to 44 to 55 interest-free days. When you pay your balance in full by the statement due date, you can take advantage of interest-free days on purchases. If your card offers up to 55 interest-free days and you pay your balance in full on the first day of the statement, you'll get 55 interest-free days. If you pay it in full on the second day, you'll get 54 interest-free days and so on.

Interest-free days only apply to purchases, so you can't take advantage of this perk if you're carrying a balance from cash advance transactions such as ATM withdrawals and balance transfers.

Who are credit cards with interest-free days best suited to?

  • Good if: You always repay your balance each month and make regular purchases on your credit card.
  • Bad if: You often miss repayments or are unable to pay your balance in full.

Compare credit cards with up to 55 interest-free days on purchases

Rates last updated May 27th, 2018
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
HSBC Platinum Credit Card
19.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 22 months with 2% balance transfer fee
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
Citi Rewards Platinum Credit Card
20.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 26 months with 2.5% balance transfer fee
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
American Express Platinum Edge Credit Card
20.74% p.a.
Up to 55 days on purchases
$195 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive a yearly $200 Travel Credit and complimentary domestic and international travel insurance, plus 0% p.a. for 12 months on balance transfers.
St.George Amplify Signature - Qantas
19.49% p.a.
Up to 55 days on purchases
$279 p.a.
Receive 90,000 bonus Qantas Points when you spend $4,000 within 90 days and receive two complimentary Qantas Club lounge invitations per year.
ANZ Frequent Flyer Black
19.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Get 75,000 bonus Qantas Points when you meet the spend requirement, a $0 first year annual fee & 2 yearly complimentary Qantas Club invitations.
American Express Velocity Escape Card
20.74% p.a.
Up to 55 days on purchases
$0 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Velocity Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
St.George Amplify Platinum
19.49% p.a.
Up to 55 days on purchases
$99 p.a.
Receive 50,000 bonus Amplify or Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas Points or 1 Amplify Point per $1 spent.
Bank of Melbourne Vertigo Visa Credit Card
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 1% balance transfer fee
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
NAB Low Rate Credit Card
0% p.a. for 6 months (reverts to 13.99% p.a.)
Up to 55 days on purchases
$59 p.a.
0% p.a. for 6 months with 2% balance transfer fee
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.
St.George Vertigo Visa
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 1% balance transfer fee
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
ANZ Frequent Flyer Platinum
19.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Receive 65,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months. Plus, a $0 annual fee for the first year.
Citi Simplicity Card
19.99% p.a.
Up to 55 days on purchases
$0 p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Westpac 55 Day Platinum Credit Card
19.84% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
0% p.a. for 20 months with 2% balance transfer fee
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
American Express Velocity Platinum Card
20.74% p.a.
Up to 55 days on purchases
$375 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive 50,000 bonus Velocity Points, a complimentary Virgin Australia return Economy domestic flight each anniversary year, plus, 2 lounge passes.
28 Degrees Platinum Mastercard
21.99% p.a.
Up to 55 days on purchases
$0 p.a.
4.99% p.a. for 6 months
Designed for travel, benefit from 0% foreign transaction fees on purchases, a $0 annual fee for life and a personal concierge service.
HSBC Platinum Qantas Credit Card
19.99% p.a.
Up to 55 days on purchases
$199 p.a.
0% p.a. for 12 months
Receive 60,000 bonus Qantas Points when you spend $3,000 within 3 months of card approval, plus enjoy complimentary travel insurance.
Bank of Melbourne Amplify Signature
19.49% p.a.
Up to 55 days on purchases
$279 p.a.
Get 90,000 bonus Amplify or Qantas Points when you spend $4,000 within 90 days and earn up to 1.5 Amplify or 0.75 Qantas Points per $1 spent.
Bank of Melbourne Amplify Platinum
19.49% p.a.
Up to 55 days on purchases
$99 p.a.
Earn 50,000 bonus Amplify or Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas Points or 1 Amplify Point per $1 spent.
HSBC Low Rate Credit Card
13.25% p.a.
Up to 55 days on purchases
$79 p.a.
0% p.a. for 20 months with 2% balance transfer fee
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
Bank of Melbourne Amplify Card
19.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
3% p.a. for 36 months
Take advantage of a 3% p.a. for 36 months balance transfer offer, Amplify or Qantas points per $1 spent and enjoy a $0 annual fee for the first year.
St.George Amplify Card
19.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
3% p.a. for 36 months
Take advantage of 3% p.a. interest on balance transfers for 36 months. Plus, a $0 first year annual fee and Amplify or Qantas Points per $1 spent.
BankSA Amplify Card
19.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
3% p.a. for 36 months
Receive a 3% p.a. for 36 months balance transfer and earn Qantas or Amplify Points per $1 spent. Plus, enjoy a $0 annual fee for the first year.
Westpac Low Rate - Online Offer
13.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
0% p.a. for 26 months with 2% balance transfer fee
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
Bank of Melbourne Vertigo Platinum Card - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Online only: Enjoy 0% p.a. interest for 24 months on balance transfers (with a one-time 1% BT fee). Plus, a $0 first year annual fee.
BankSA Vertigo Platinum - Online Offer
12.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first year.

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No annual fee credit cards

There are two different types of no annual fee credit cards. Some give you $0 annual fee for the life of the credit card, while others offer no annual fee in the first year. These credit cards are usually the cheapest option for people who pay back their card balance by the statement due date or who rarely use their cards.

Many no annual fee credit cards also feature up to 55 days interest-free. Pay back what you spend by the statement due date and a no annual fee credit card could cost you nothing to own and use. But take note that no annual fee credit cards often have higher interest rates than low rate credit cards. They can sometimes be light on value-adding features such as complimentary insurance or rewards points. However, cards with $0 annual fee for a promotional period usually have more features than cards with no annual fee for life.

Who are $0 annual fee credit cards best suited to?

  • Good if: You rarely use your credit card or want to cut down on extra costs.
  • Bad if: You want to take advantage of extra features such as rewards, complimentary insurance and concierge services.
Rates last updated May 27th, 2018
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
Westpac Low Rate - Online Offer
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
13.49% p.a.
0% p.a. for 26 months with 2% balance transfer fee
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
HSBC Platinum Credit Card
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
ANZ Frequent Flyer Black
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
19.99% p.a.
Get 75,000 bonus Qantas Points when you meet the spend requirement, unlimited Véloce airport lounge access and a $0 annual fee for the first year.
CUA Low Rate Credit Card
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
11.99% p.a.
0% p.a. for 13 months
Take advantage of a 0% p.a. balance transfer rate for 13 months, $0 first year annual fee, and a low ongoing 11.99% p.a. interest rate on purchases.
28 Degrees Platinum Mastercard
$0 p.a.
21.99% p.a.
4.99% p.a. for 6 months
Designed for travel, benefit from 0% foreign transaction fees on purchases, a $0 annual fee for life and a personal concierge service.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Qantas Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
American Express Velocity Escape Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Velocity Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
ANZ Rewards Platinum
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
18.79% p.a.
Receive a $0 first year annual fee offer, 65,000 bonus Reward Points when you meet the spend criteria and up to 1.5 points per $1 spent.
St.George Amplify Card
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
19.49% p.a.
3% p.a. for 36 months
Take advantage of 3% p.a. interest on balance transfers for 36 months. Plus, a $0 first year annual fee and Amplify or Qantas Points per $1 spent.
Westpac 55 Day Platinum Credit Card
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
19.84% p.a.
0% p.a. for 20 months with 2% balance transfer fee
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
CUA Platinum Credit Card
$0 p.a. annual fee for the first year ($149 p.a. thereafter)
19.99% p.a.
0% p.a. for 13 months
Collect 1 CUA Rich Life Rewards point per $1 spent, receive complimentary travel insurance, a $0 first year annual fee and a balance transfer offer.
BankSA Vertigo Platinum - Online Offer
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
12.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first year.

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0% balance transfer offers

A balance transfer credit card can be a great way to pay off an existing debt quicker and cheaper. These cards offer a promotional 0% interest rate (or reduced rate) when you move existing debt to the new account. The interest-free period can generally last from 12 to 30 months. At the end of the balance transfer promotional period, a standard interest rate will apply to any remaining debt from the balance transfer.

Keep in mind that a balance transfer credit card shouldn’t be used for purchases, which will accrue interest at the purchase rate for that card. Interest-free days also don’t apply if you’re carrying a balance transfer balance from month to month.

Who are 0% balance transfer credit cards best suited to?

  • Good if: You want to consolidate several debts under one card or pay off a debt without the burden of interest.
  • Bad if: You plan to use your card for purchases.

0% balance transfer credit cards comparison

Rates last updated May 27th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Westpac Low Rate - Online Offer
0% p.a. for 26 months with 2% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and 0% p.a. for 14 months on balance transfers.
Bank of Melbourne Vertigo Platinum Card - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Online only: Enjoy 0% p.a. interest for 24 months on balance transfers (with a one-time 1% BT fee). Plus, a $0 first year annual fee.
BankSA Vertigo Platinum - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first year.
CUA Low Rate Credit Card
0% p.a. for 13 months
11.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of a 0% p.a. balance transfer rate for 13 months, $0 first year annual fee, and a low ongoing 11.99% p.a. interest rate on purchases.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
St.George Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.

Compare up to 4 providers

Rewards credit cards with no annual fee

Most rewards credit cards come with high annual fees, but you can use these cards to earn points without paying any yearly fees. This means you don't have to worry about weighing up the value of the rewards you could redeem with the annual fee of the card. While some rewards cards offer $0 annual fee for life, others may only offer no annual fee for the first year. These cards may come with a high purchase rate, so they're best suited to cardholders who can repay their balance in full each month to avoid interest costs.

Compared to rewards cards or frequent flyer cards with annual fees, these cards generally offer less competitive earn rates, smaller bonus points offers and fewer extra features.

Who are $0 annual fee rewards credit cards best suited to?

  • Good if: You want to earn rewards while cutting down on standard card costs.
  • Bad if: You want to take advantage of competitive earn rates and bonus points offers.

Compare rewards credit cards with no annual fee

Rates last updated May 27th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
HSBC Platinum Credit Card
HSBC Rewards Plus


1
19.99% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Receive 1 per $1 spent, plus a long-term balance transfer offer and a $0 annual fee for the first year.
ANZ Rewards Black Credit Card
75,000 bonus points
ANZ Rewards Program


2
18.79% p.a.
$0 p.a. annual fee for the first year ($375 p.a. thereafter)
Receive 75,000 bonus points when you meet the spend requirement. Plus, complimentary lounge passes and a $0 annual fee for the first year.
ANZ Frequent Flyer Platinum
65,000 bonus points
Qantas Frequent Flyer


0.75
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Receive 65,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months. Plus, a $0 annual fee for the first year.
Qantas American Express Discovery Card
Qantas Frequent Flyer


1
20.74% p.a.
$0 p.a.
Earn uncapped Qantas Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
ANZ Frequent Flyer Black
75,000 bonus points
Qantas Frequent Flyer


1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Get 75,000 bonus Qantas Points when you meet the spend requirement, a $0 first year annual fee & 2 yearly complimentary Qantas Club invitations.
American Express Velocity Escape Card
Velocity Frequent Flyer


1
20.74% p.a.
$0 p.a.
Offers 0% p.a. for 12 months on balance transfers and complimentary purchase insurance.
ANZ Rewards Platinum
65,000 bonus points
ANZ Rewards Program


1.5
18.79% p.a.
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
Receive a $0 first year annual fee offer, 65,000 bonus Reward Points when you meet the spend criteria and up to 1.5 points per $1 spent.
ANZ Rewards Credit Card
25,000 bonus points
ANZ Rewards Program


1
18.79% p.a.
$0 p.a. annual fee for the first year ($80 p.a. thereafter)
Get 25,000 bonus Reward Points when you spend $2,500 on eligible purchases in the first 3 months from approval. Plus, a $0 first year annual fee.
CUA Platinum Credit Card
CUA Life Rich Rewards Program


1
19.99% p.a.
$0 p.a. annual fee for the first year ($149 p.a. thereafter)
Collect 1 CUA Rich Life Rewards point per $1 spent, receive complimentary travel insurance, a $0 first year annual fee and a balance transfer offer.

Compare up to 4 providers

Credit cards with 0% foreign transaction fees

These credit cards are a cheaper option if you want to pay with plastic overseas. You can use a credit card with no foreign transaction fees to spend overseas or online with international retailers without paying the extra 2-4% currency conversion fee that most cards charge. To put this in perspective, if a card charged you 3% for a foreign transaction worth AUD$500, it would cost you an extra $15. These fees can quickly add up when you’re overseas, so 0% foreign fee cards offer a cheaper alternative.

Some of these credit cards also include complimentary international travel insurance, which could also help you save on costs if you're travelling or spending overseas.

Who are 0% foreign transaction fee credit cards best suited to?

  • Good if: You regularly shop online with international merchants or have an overseas trip coming up.
  • Bad if: You don’t regularly spend in foreign currencies and want to save on other standard fees such as interest rates on purchases.

Compare credit cards with no foreign transaction fees

Rates last updated May 27th, 2018
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
28 Degrees Platinum Mastercard
0% of transaction value
$0
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
No foreign transaction fees on international purchases including international purchases online, together with a no annual fee.
ANZ Rewards Travel Adventures card
0% of transaction value
$5
$0
$225 p.a.
Receive 40,000 bonus Velocity Points, 2 yearly Virgin Australia lounge passes, plus enjoy $0 overseas purchase transaction fees.

Compare up to 4 providers

The difference between a cheap credit card and an expensive one comes down to how you spend and repay your credit card balance. For example, a no annual fee rewards credit card represents good value for money if you can pay your balance back in full each month, while a low rate credit card will be cheaper if you carry debt. If you need help with your comparison of the cheapest credit cards, get in touch with us using the form at the bottom of this page. You can also check out our guide to the best credit cards to compare other options.

* The offers compared on this page are chosen from a range of products finder.com.au has access to and are not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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Sally McMullen

Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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Credit Card Offers

Important Information*
Westpac Low Rate - Online Offer
Westpac Low Rate - Online Offer

Interest rate

13.49

Annual fee

59
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

129
NAB Low Fee Card
NAB Low Fee Card

Interest rate

19.74

Annual fee

30
Citi Platinum Credit Card - 100k Bonus Points
Citi Platinum Credit Card - 100k Bonus Points

Interest rate

20.99

Annual fee

149

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