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Plenty of credit cards with $0 annual fee

Plenty of credit cards with $0 annual fee

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.

ProviderCredit cardStandard interest rateInterest-free days (up to)
American ExpressEssential Credit Card14.99%55
American ExpressLow Rate Credit Card11.99%55
American ExpressQantas Discovery Card20.74%44
American ExpressVelocity Escape Card20.74%55
Bank AustraliaVisa Credit Card12.39%55
Bank of MelbourneNo Annual Fee Visa20.49%55
BankSANo Annual Fee Visa20.49%55
BankVicVisa Silver11.95%44
BankwestZero Mastercard17.99%55
BankwestZero Platinum Mastercard17.99%55
CitiSimplicity19.99%55
Heritage BankGold Low Rate11.80%0
Horizon Credit UnionVisa Credit Card12.95%55
HSBCPremier World Mastercard (Rewards Plus)19.99%55
Hume BankValue Visa11.95%55
INGOrange One11.99%45
Northern Inland Credit UnionLow Rate Visa Credit Card8.99%0
QBankBluey Card11.99%55
Qudos BankLifestyle Plus15.85%46
Virgin MoneyNo Annual Fee Card18.99%44

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This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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