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

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Today's top credit cards products

Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)

Purchase Rate

Annual Fee

Purchase Rate

20.74%

Annual Fee

$129

Balance Transfer

0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).

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ING Orange One

Purchase Rate

Annual Fee

Purchase Rate

11.99%

Annual Fee

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ANZ Rewards Platinum

Purchase Rate

Annual Fee

Purchase Rate

20.24%

Annual Fee

$95

Bonus Points

100,000 bonus Reward Points with your new ANZ Rewards Platinum

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Latitude Financial Services Latitude Low Rate Mastercard

Purchase Rate

Annual Fee

Purchase Rate

9.89%

Annual Fee

$69

special

Enjoy complimentary insurance benefits, including Price Protection, Purchase Protection and Extended Warranty

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FAQs

If you don’t have your wallet available but need cash, you might be wondering how to get cash with just a credit card number.

Banks and merchants usually will not allow you to access cash without a physical card, because doing so would open up opportunities for fraudulent activities. Even most non-cash credit card transactions (such as shopping online) require you to know the expiry date and CVV on your credit card in addition to the card number.

However, some banks offer cardless cash for transaction accounts – meaning you can access your cash without having a card. Using a secure app installed on your mobile phone, you can log onto an ATM and withdraw the money you need. This could be a practical and secure solution if you don’t have a card and need cash.

Credit card market has many $0 annual fee options

Related news

Credit card providers chasing business with 0% balance transfer offers

Should you get a credit card during uni?

These frequent flyer credit cards have a $0 annual fee

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

Share this article

Popular credit cards searches

Today's top credit cards products

Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)

ING Orange One

ANZ Rewards Platinum

Latitude Financial Services Latitude Low Rate Mastercard

FAQs