Compare No Annual Fee Credit Cards - Australia
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- Default
- Longest Purchase Period
- Lowest Cash Advance Rate
- Longest Balance Transfer Period
Savrr.com is a trading name of Fair Comparison Pty Ltd. Fair Comparison compares loan products from a range of banks and other financial or credit product providers and does not compare all products in the market or all product features. To filter the results, you will need to enter some basic information which will generate a comparison of products that fall within those parameters. The default ordering of products is based on the Longest Purchase Period. Fair Comparison do not take into account your objectives, financial situation or needs, or provide advice, assistance, or recommendations.
Credit Union SA - Education Community Credit Card
Purchase Rate
Interest Free Period
Balance Transfer
Annual Fee
Credit Union SA - Workplace Benefits Credit Card
Purchase Rate
Interest Free Period
Balance Transfer
Annual Fee
Bankwest - Zero Platinum Mastercard
Purchase Rate
Interest Free Period
Balance Transfer
3% BT fee applies.
Annual Fee
Bankwest - Zero Classic Mastercard
Purchase Rate
Interest Free Period
Balance Transfer
3% BT fee applies.
Annual Fee
Virgin Money Australia - No Annual Fee Credit Card
Purchase Rate
Interest Free Period
Annual Fee
Citi - Simplicity Credit Card
Purchase Rate
Interest Free Period
Balance Transfer
0% BT fee applies.
Annual Fee
Qudos Bank - Lifestyle Credit Card
Purchase Rate
Balance Transfer
Annual Fee
BankVic - Low Rate Visa Credit card
Purchase Rate
Interest Free Period
Balance Transfer
Annual Fee
BankVic - VAU Qantas Visa Credit Card
Purchase Rate
Interest Free Period
Balance Transfer
Annual Fee
American Express - Low Rate Credit Card
Interest Free Period
Annual Fee
No Annual Fee Credit Card Guide
Choosing a credit card is an important decision. After all, getting the wrong card could be a costly mistake.
That’s why we put together this guide. We can’t tell you which card is best for you. But we can give you some information so you can more confidently compare no annual fee credit cards and then choose one that’s suitable for your needs.
What is a no annual fee credit card?
A no annual fee credit card is precisely what the name says. It’s a credit card that doesn’t charge a yearly fee to keep the account active or to enable you to use the card.
Always read the terms and conditions, though. Some lenders may advertise a card as having no annual fee, but somewhere near the offer state that it only applies to, say, the first year. That’s not really a no annual fee credit card; it’s more like a special introductory offer.
How does a no annual fee credit card work?
No annual fee credit cards work just like most other kinds of credit cards. There are interest rates, other fees and charges eligibility criteria and sometimes even rewards programs and rewards points. The key difference is that when you sign up, there’s no fee to get started. And when your account anniversary rolls around each year, there’s no fee.
It’s possible that the bank or lender will change its terms and start charging an annual fee in the future. But if that happens, the lender will have to give you plenty of notice which would give you the chance to cancel the card before the fee becomes payable.
There’s a common misconception that no annual fee credit cards don’t offer perks, such as rewards programs and other benefits. While that’s true in some cases, especially cards that have no annual fees and a low purchase rate (the interest rate charged when you buy products and services as opposed to when you get a cash advance), it’s not always the case. There are cards that are both a no annual fee card and a rewards credit card. In fact, there can be a range of annual fee-free cards that have rewards programs.
What is true, though, is that the cards that have the most generous rewards programs do tend to have annual fees. No annual fee credit cards can still have good rewards programs. For example, there are a range of no annual fee credit cards that allow you to earn membership rewards points and frequent flyer points when making everyday purchases. It’s just that the cards that make it easiest to earn great rewards tend to have annual fees.
Another common misconception about how annual fee-free cards work is that they’re only available to people with excellent credit scores. In truth, people with less-than-stellar credit scores may be eligible for many no annual fee credit cards. This can depend on the lender and the state of their credit score may however result in a higher purchase rate and cash advance rate, lower credit limit, and exclusion from joining better rewards programs.
Here’s a third misconception about no annual fee credit cards: they all have high interest rates. Not true! Some fee-free cards do have high interest rates. However, there are credit cards that have no annual fees and low interest rates.
No annual fee credit card benefits and drawbacks
As with all types of credit cards, no annual fee credit cards come with a variety of potential benefits and drawbacks, which may or may not be an issue for you.
No annual fee credit card benefits
- They could save you money because some annual fees can be hundreds of dollars. If you’re someone who won’t use a credit card regularly, perhaps because you’ll keep it for emergencies or you’re wary of credit card debt, a large annual fee could be a deal-breaker
- They may put less pressure on you because if you have to pay hefty annual fees, you may feel pressure to use your card more often to feel like you got your money’s worth. No annual fee credit cards may eliminate some of that pressure.
No annual fee credit card drawbacks
- No annual fee credit cards tend to have less attractive signup bonuses
- Other membership rewards, bonuses, and perks may not be as plentiful as those you’ll get with a annual fee-free credit card
- Other fees like, balance-transfer rates, cash advance rates, and purchase rates may be higher to compensate for the absence of an annual fee
- There may be no interest-free period or the interest-free period may be shorter.
What is the best no annual fee credit card?
So, you want to know which is the best no annual fee credit card out there? Sorry, there isn’t one. If there were, everyone would apply for that one! But that doesn’t mean there aren’t certain cards that are more or less appropriate for your needs. A key to finding one that’s suitable for you is to be able to identify what it is that’s important.
Our main guide to comparing credit cards includes a robust process to help compare all kinds of credit cards. By adding the following questions to that process, you’ll be able to better compare no annual fee credit cards specifically:
- Will you always be able to repay your debts in full before the due date? If not, the interest rate on cards could become especially important.
- What other fees are there? As we’ve mentioned already, no annual fee credit cards may charge higher rates for other services. That includes balance transfers, cash advances, late or missed payments and more. So make sure you read the terms and conditions carefully when comparing cards.
Compare no annual fee credit cards like a pro
Choosing a great no annual fee credit card that works for you isn’t as easy as it sounds. Just about every offer out there looks like a can’t-miss offer until you read the fine print or really step back and consider what you need out of a credit card.
If a credit card with an annual fee pays for itself, that’s great. But if you prefer a credit card without an annual fee, the tips in this article could help you decide which cards may be suitable for you and then compare them so you can find a great deal.
No annual fee credit card FAQs
What credit cards have no annual fee?
Many lenders offer credit cards with no annual fee. You can choose to apply online, by phone or in person. When deciding if a credit card with no annual fee is a viable option for you, it's important to consider other costs such as interest charges. To compare a range of no annual fee credit cards, take a look at our no annual fee credit card comparison.
How do I apply for a no annual fee credit card?
To apply for a credit card with no annual fee, simply compare a range of cards and choose one that suits your needs, then follow the application process from your chosen lender. You can usually choose to apply online, by phone or in person. When deciding if a credit card with no annual fee is a viable option for you, it's important to consider other costs such as interest charges.
Are no annual fee credit cards worth it?
Credit cards with no annual fee can be worth it, depending on your circumstances. It's important to check other costs associated with the card, such as the interest rate or other fees. For example, if you tend to carry a balance over each month, and end up paying interest, a card with a lower interest rate may cost less in the long run.
Is a good credit score required for a no annual fee credit card?
There is no one credit score that will guarantee your application for a no annual fee credit card will be accepted, however having a poor credit score can impact your chances of being approved. The credit score you need will depend on the lender and their guidelines, along with the other application and eligibility requirements such as your income, savings, existing debts and the credit limit you're applying for.
Credit Cards Providers
