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 |
