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Credit card market has many $0 annual fee options
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 |
Disclaimer
This article is over two years old, last updated on February 17, 2019. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent credit cards articles.
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Product database updated 28 Nov, 2024
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Promoted credit cards
Latitude Financial Services Latitude Low-rate Card- Balance Transfer Offer
- Balance Transfer
- Apple, Google & Samsung Pay
- Balance transfer
- Low annual fee
Purchase rate p.a.
13.99%
Annual fee
$69
Australian Credit Licence 392145
Fees & charges apply
Kogan Money Black Card
- RateCity Exclusive
- Apple & Google Pay
- Balance transfer
- No annual fee
Purchase rate p.a.
0.00%
for up to 10 months, then 21.99%
Annual fee
$0
Australian Credit Licence 286655
Fees & charges apply
Latitude Financial Services Latitude Low Rate Mastercard- Rewards Offer
- Special
- Apple, Google & Samsung Pay
- Balance transfer
- Low annual fee
Purchase rate p.a.
13.99%
Annual fee
$69
Australian Credit Licence 392145
Fees & charges apply
First Option Bank Low Rate Visa Credit Card
- Special
- Apple, Google & Samsung Pay
- Balance transfer
- Low annual fee
Purchase rate p.a.
10.49%
Annual fee
$0
for 12 months then $48 thereafter
Australian Credit Licence 236509
Fees & charges apply
Product data updated on 28 Nov 2024
