Credit card market has many $0 annual fee options

Nick BendelFeb 16, 2019( 2 min read )

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There are more than 30 credit cards in Australia with no annual fee, according to a new analysis of the credit card market.

The RateCity analysis found that most of those credit cards with $0 annual fees also have maximum interest-free periods of at least 44 days (see table below).

That means that anyone who pays their entire bill in full each month could avoid paying both annual fees and interest.

However, four of those no-annual-fee credit cards start charging interest from day one – so savings on fees might be eaten up by interest charges.

Provider	Card	Annual fee	Ongoing interest rate	Max. interest-free days
American Express	Low Rate Credit Card	$0	8.99%	55
Northern Inland Credit Union	Low Rate Visa Credit Card	$0	8.99%	0
Teachers Mutual Bank	Teachers Credit Card	$0	11.50%	55
UniBank	Visa Credit Card	$0	11.50%	55
Heritage Bank	Gold Low Rate	$0	11.80%	0
Hume Bank	Value Visa	$0	11.95%	55
BankVic	Visa Silver	$0	11.95%	44
ME Bank	Frank	$0	11.99%	55
CUA	Brisbane Heat Supporters’ Low Rate Credit Card	$0	11.99%	55
First Option Credit Union	Low Rate Visa Credit Card	$0	11.99%	55
QBank	Bluey Card	$0	11.99%	55
ING	Orange One	$0	11.99%	45
Qudos Bank	Lifestyle	$0	12.34%	0
Bank Australia	Visa Credit Card	$0	12.39%	55
Bank First	Visa Classic Credit Card	$0	12.94%	55
Horizon Credit Union	Visa Credit Card	$0	12.95%	55
American Express	Essential Credit Card	$0	14.99%	55
Qudos Bank	Lifestyle Plus	$0	15.85%	46
BankVic	Qantas Visa Credit Card	$0	16.95%	55
Bankwest	Zero Mastercard	$0	17.99%	55
Bankwest	Zero Platinum Mastercard	$0	17.99%	55
Virgin Money	No Annual Fee Card	$0	18.99%	44
HSBC	Premier World Mastercard (Rewards Plus)	$0	19.99%	55
Citi	Simplicity	$0	19.99%	55
Coles	No Annual Fee Mastercard	$0	19.99%	55
CUA	Brisbane Heat Supporters’ Platinum Credit Card	$0	19.99%	55
St George Bank	No Annual Fee Visa	$0	20.49%	55
Bank of Melbourne	No Annual Fee Visa	$0	20.49%	55
BankSA	No Annual Fee Visa	$0	20.49%	55
American Express	Velocity Escape Card	$0	20.74%	55
American Express	Qantas Discovery Card	$0	20.74%	44
Latitude Financial Services	28 Degrees Platinum Mastercard	$0	21.99%	0

Nick Bendel

Property Personal Finance Writer

A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.

Today's top credit cards products

ANZ Low Rate

Purchase Rate

Annual Fee

Purchase Rate

12.49%

Annual Fee

for 12 months then $58

Balance Transfer

0% P.A. for 22 months on balance transfers and $0 Annual Account Fee in First Year with an ANZ Low Rate credit card (1.5% Balance Transfer Fee applies).

Go to site

CUA Low Rate Credit Card

Purchase Rate

Annual Fee

Purchase Rate

11.99%

Annual Fee

for 12 months then $49

Balance Transfer

0% p.a. on balance transfers for 13 months. $0 annual fee for the first year

Go to site

Bendigo Bank Low Rate Mastercard

Purchase Rate

Annual Fee

Purchase Rate

0.00%

for 15 months then 11.99%

Annual Fee

$45

Purchase Offers

0% p.a. on purchases for 15 months from account opening. Receive a $150 Woolworths gift card when you spend $3,000 in 90 days.

Go to site

ANZ Rewards

Purchase Rate

Annual Fee

Purchase Rate

20.24%

Annual Fee

$80

Bonus Points

50,000 bonus Reward Points with your new ANZ Rewards card.

Go to site

FAQs

Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.

Credit card market has many $0 annual fee options

Related news

Should you get a credit card during uni?

Are you putting more everyday spending on your credit card?

Big banks offering zero per cent deals to put credit cards back in Aussie pockets

The credit card with the lowest interest rate may not be the best

Today's top credit cards products

ANZ Low Rate

CUA Low Rate Credit Card

Bendigo Bank Low Rate Mastercard

ANZ Rewards

Popular credit cards searches

FAQs