The most competitive 0% p.a. credit card offers of 2019.
Information about your credit file. Find out what you can apply for with good and bad credit.
Pay no international transaction fees or foreign currency conversion charges with travel credit cards.
Most of the time when you pull out a credit card, it's just to make a payment. But what if you could get other benefits too?
Straight to your inbox
A credit card annual fee is usually charged when you first activate the account, and then around the same time every 12 months after that. If you have a card that offers a $0 annual fee in the first year, the standard annual fee will be charged for the first time around 12 months from when you activated the card.
Use this guide to learn more about credit card annual fees, including ways to avoid and reduce the costs.
If you have a credit card that offers no annual fee in the first year, you can avoid this cost by cancelling the account within the first 12 months. To do this, you’ll need to make note of the date you got the card, pay off your full balance and then contact your credit card company and ask to close the account before the anniversary of your account opening.
For example, say you got a credit card on 31 January 2018 that offered a $0 annual fee in the first year and then charged a $250 annual fee after that. If you decide the standard annual fee isn’t worth it for you, then you would need to cancel the card before 31 January 2019 to avoid being charged an annual fee.
To make sure you leave enough time for the cancellation to be processed, contact your credit card company and ask them when the annual fee will be charged. This will help you sort out your account and close it before the fee is added to your balance.
If you’ve had the same credit card for years and want to cancel it, you can also use this approach to avoid paying another annual fee before you close the account.
If you have a credit card that charges an annual fee, here are some ways to keep the cost as low as possible:
Say you have a credit card with a $99 annual fee and complimentary overseas travel insurance. If you travel overseas every year and usually pay more than $99 for your insurance, then this perk would offset the card’s annual fee.
However, if you rarely travel overseas or tend to find cheaper travel insurance options, you might find a card with a lower annual fee or $0 annual fee is more affordable for you.
While most credit cards come with annual fees, there is a range of options that offer $0 annual fees for the first year or for life. However, other features such as the interest rates, complimentary extras and rewards can also affect a card’s overall value.
So if you’re looking for a new credit card, make sure you think about what features are worth the most to you and then compare a range of options to help you find one that fits your goals.
Images: Shutterstock
Back to top
* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.
