Plenty of credit cards with $0 annual fee

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There are at least 20 credit cards that don’t charge an annual fee, according to a new analysis of the Australian credit card market.

Some of these $0 annual fee credit cards are from well-known providers such as American Express, Bank of Melbourne, BankSA, Bankwest, Citi, HSBC and ING (see table below).

Others are from smaller institutions such as Bank Australia, BankVic, Heritage Bank, Horizon Credit Union, Hume Bank, Northern Inland Credit Union, QBank, Qudos Bank and Virgin Money.

One of the standout $0 annual fee credit cards is the Hume Bank Value Visa, which charges an interest rate of 11.95 per cent and provides an interest-free period of up to 55 days.

There are also two credit cards that have an interest rate of 11.99 per cent and an interest-free period of up to 55 days – the American Express Low Rate Credit Card and QBank Bluey Card.

On a different note, Northern Inland Credit Union’s Low Rate Visa Credit Card has no annual fee and an interest rate of only 8.99 per cent – but it doesn’t offer an interest-free period.

Provider Credit card Standard interest rate Interest-free days (up to)
American Express Essential Credit Card 14.99% 55
American Express Low Rate Credit Card 11.99% 55
American Express Qantas Discovery Card 20.74% 44
American Express Velocity Escape Card 20.74% 55
Bank Australia Visa Credit Card 12.39% 55
Bank of Melbourne No Annual Fee Visa 20.49% 55
BankSA No Annual Fee Visa 20.49% 55
BankVic Visa Silver 11.95% 44
Bankwest Zero Mastercard 17.99% 55
Bankwest Zero Platinum Mastercard 17.99% 55
Citi Simplicity 19.99% 55
Heritage Bank Gold Low Rate 11.80% 0
Horizon Credit Union Visa Credit Card 12.95% 55
HSBC Premier World Mastercard (Rewards Plus) 19.99% 55
Hume Bank Value Visa 11.95% 55
ING Orange One 11.99% 45
Northern Inland Credit Union Low Rate Visa Credit Card 8.99% 0
QBank Bluey Card 11.99% 55
Qudos Bank Lifestyle Plus 15.85% 46
Virgin Money No Annual Fee Card 18.99% 44

^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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