Compare no annual fee credit cards
A no annual fee card costs nothing to hold. It suits people who pay in full each month, want a backup card, or use credit only occasionally.
| Card | Annual fee | Purchase rate | Other features | Interest-free days | Minimum credit limit | Link |
|---|---|---|---|---|---|---|
| American Express Low Rate Credit Card | $0 | 10.99% p.a. | Low purchase rate | Up to 55 | Not published | View on American Express site |
| Bankwest Zero Platinum Mastercard | $0 | 18.99% p.a. (0% p.a. for the first 6 months) | 0% foreign transaction fee | Up to 55 | $1,000 | View on Bankwest site |
| CommBank Low Fee Credit Card | $0 in any month you spend $300 or more, otherwise $3 a month | 20.99% p.a. | 3.5% international transaction fee | Up to 55 | $500 | View on CommBank site |
Other providers offer $0 annual fee cards that are not shown here. The CommBank Low Fee card charges $3 in any month you spend less than $300. Bankwest’s 0% introductory rates are for new Zero Mastercard customers; a 3% fee applies to balance transfers.
Low-fee alternatives
If you sometimes carry a balance, a low rate card with a small fee can work out cheaper than a no-fee card with a higher rate. Most of the low interest cards we list cost $58 to $99 a year with purchase rates from 10.99% to 15.99% p.a., against 18.99% to 20.99% p.a. on the Bankwest and CommBank cards above.
What to compare
The purchase rate
No-fee cards often have higher rates. That doesn’t matter if you always pay the full balance, and matters a lot if you don’t.
Fees that still apply
“No annual fee” doesn’t mean no fees. Late payment fees, cash advance fees and, on many cards, foreign transaction fees of around 3% still apply. The Bankwest Zero Platinum charges a $25 late payment fee and 3% (minimum $4) on cash advances.
Conditions on the $0 fee
Some cards waive the fee only in the first year, or only if you meet a spending or account condition. Check whether $0 is for the life of the card.
Common questions
Are no annual fee cards really free?
Only if you pay the full balance by the due date every month and avoid cash advances and late payments.
Can I get rewards without an annual fee?
Some cards offer limited rewards with no fee, but earn rates are usually lower than on paid rewards cards.