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No Annual Fee Credit Cards in Australia

Here are 5 no annual fee credit cards in Australia. They are perfect for beginners and people who want to pay $0 credit card annual fees. On this page we will go through the American Express Essentials card, the Kogan credit card, Qantas American Express Discovery card, the American Express Velocity Escape card and the Coles credit card.

1. The American Express Essentials Card

No annual fee

$100 back when you spend $1,500 on eligible purchases in the first 3 months

Complimentary phone screen insurance covering up to $500 for repairs

Earn 1 point per $1 spent at government bodies

Earn 1.25 points per $1 on purchases outside of government bodies

Up to 55 days interest free

16.99% p.a. interest rate after interest free period
0
annual fee
100
back on your statement
55
days interest free
16.99
interest after interest free period

2. The Kogan Money Black Card

No annual fee

$400 Kogan credit when you spend $1,500 on eligible purchases in 90 days

Earn 2 points per $1 spent on your eligible purchases at Kogan

Earn 1 point per $1 spent on your everyday purchases

Complimentary Kogan First Membership

Up to 55 days interest free

20.99% p.a. interest rate on purchases after interest free period
0
annual fee
400
Kogan credit
55
days interest free
20.99
interest after interest free period

3. The Qantas American Express Discovery Card

No annual fee

Card refund and purchase cover

Earn 1.75 Qantas points per $1 spent on Qantas products and services

Earn 0.75 Qantas points per $1 on purchases outside of government bodies

Earn 0.5 Qantas points per $1 spent at government bodies in Australia

Up to 44 days interest free

21.99% p.a. interest rate on purchases after interest free period
0
annual fee
0.75
per $1 spent outside of government bodies
44
days interest free
21.99
interest after interest free period

4. The American Express Velocity Escape

No annual fee

Earn 1.75 Velocity points per $1 spent on eligible purchases at Virgin Australia

Earn 0.75 Velocity points per $1 spent on card purchases outside of government bodies

Earn 0.5 Velocity points per $1 spent on purchases at government bodies in Australia

Card refund and purchase cover

Up to 55 days interest free

21.99% p.a. interest rate on purchases after interest free period
0
annual fee
0.75
per $1 spent outside of government bodies
55
days interest free
21.99
interest after interest free period

5. Coles No Annual Fee Card

No annual fee

Complimentary insurance on your purchases if they are permanently lost, stolen or accidentally damaged

Earn 1 Flybuys point per $2 spent on eligible purchases

$10 off your Coles supermarket shop when you redeem 2,000 Flybuys points

Up to 55 days interest free

0% p.a. on purchases for 15 months and then 19.99% p.a. thereafter
0
annual fee
1
per $2 spent
55
days interest free
19.99
interest after interest free period

Frequently asked questions

What are the differences between credit cards and debit cards?

Credit cards:

  • The credit provider allows you to borrow money from them up to the credit limit
  • Can be used to earn rewards such as frequent flyer points, cash back, and insurances on your purchases
  • There’s usually an interest free period from 44 days to 55 days, where no interest is charged if you pay back the full balance owing before the end of the interest free period
  • Interest will be charged on the amount owing after the interest free period if you don’t pay back the full balance
  • Offers extra fraud protection and protection against unauthorised purchases

Debit cards:

  • Money is deducted from your bank account
  • Since it is your money which you are using, no interest or fees are charged (unless you deduct more money than you have in your account)
  • Generally doesn’t allow you to earn points or cash back
  • Generally no extra insurances and fraud protection are offered on purchases

Do credit cards impact your credit score?

Paying off your full credit card balance each month on time may positively affect your credit score, but not paying back the full balance owing on time may negatively impact your credit score. That’s why it’s important to keep on top of your payments and try to pay off the balance in full and on time each month.

Do you need to pay interest on your credit card?

With every credit card, there’s usually an interest free period of up to 44 days or 55 days, whereby if you pay back the full balance owing on your statement before the interest free period, then no interest is charged.

However, if you don’t pay back the full balance owing before the interest free period, then interest will be charged on the balance owing on your statement. That’s why it’s important to keep on top of your credit card statements and try to pay back the full balance owing each month before the end of the interest free period.

Do credit cards impact your borrowing capacity when you're looking to get a mortgage?

Having a credit card may impact your borrowing capacity, because the banks usually look at the full credit limit that you have on your credit card as a debt, even if you pay back the full balance owing each month on time.

Can I avoid an annual fees on a credit card?

You can avoid credit card annual fees by choosing cards with no annual fees, like the no annual fee credit cards on this page.

Some credit cards waive their annual fees for limited time periods or if you meet the eligibility requirements. So it may be worth looking into the terms and conditions to see what each card has to offer.

Is having no annual fees on a credit card a good?

Having no annual fee on a credit card can be good for some people, especially if they don’t plan on using the card frequently or if they don’t want to pay a fee each year for having the card. For others, a credit card with a fee might be worth it if it provides rewards or benefits that they value, such as cash back, travel rewards, or other perks.

It’s important to weigh the costs and benefits of a credit card, including its annual fee, when deciding whether it’s a good option for you. Consider factors such as your spending habits, the rewards you can earn, as well as any other fees or charges, before making a decision.

Is there a lifetime free credit card?

Yes, there are some credit cards which have no annual fees. However, some no annual fee credit cards can have other costs which are still associated with the card.

It’s important to carefully review the terms and conditions of a credit card, including all fees and charges, before applying or accepting an offer. You should also consider your spending habits and financial goals when choosing a credit card, and make sure the rewards and benefits of the card align with your needs.