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Find out moreFind out moreAmerican Express Low Rate Credit Card | |
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Purchase rate | 10.99% p.a. |
Key feature | Offers card purchase and refund cover |
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Credit Union SA Workplace Benefits Credit Card | |
Purchase rate | 11.49% p.a. |
Key feature | 0% p.a. interest for the first 6 months |
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Firefighters Mutual Bank | |
Purchase rate | 11.50% p.a. |
Key feature | 7.90% p.a. intro rate offer for 6 months |
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Healthcare Professionals Bank | |
Purchase rate | 11.50% p.a. |
Key feature | 7.90% p.a. intro rate offer for 6 months |
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Teachers Mutual Bank Credit Card | |
Purchase rate | 11.50% p.a. |
Key feature | 7.90% p.a. intro rate offer for 6 months |
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UniBank Credit Card | |
Purchase rate | 11.50% p.a. |
Key feature | 7.90% p.a. intro rate offer for 6 months |
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Heritage Bank Gold Low Rate | |
Purchase rate | 11.80% p.a. |
Key feature | 0% p.a. balance transfer for 12 months |
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Hume Bank Value Visa | |
Purchase rate | 11.95% p.a. |
Key feature | No fee for additional cardholders |
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ING Orange One Low Rate | |
Purchase rate | 11.99% p.a. |
Key feature | No international transaction fees (conditions apply) |
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Bank Australia Visa Credit Card | |
Purchase rate | 12.39% p.a. |
Key feature | Offers 24/7 fraud monitoring |
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QBANK Bluey Visa Credit Card | |
Purchase rate | 12.49% p.a. |
Key feature | 0% balance transfer for 12 months |
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Bank First Visa Classic Credit Card | |
Purchase rate | 12.54% p.a. |
Key feature | Up to 55 days interest free on purchases |
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Qudos Bank Lifestyle | |
Purchase rate | 12.84% p.a. |
Key feature | 4.99% p.a. intro rate offer for 5 months |
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Horizon Bank Visa Credit Card | |
Purchase rate | 12.95% p.a. |
Key feature | 4.99% p.a. intro rate offer for 5 months |
Visit provider | |
BankVic Low Rate Visa | |
Purchase rate | 13.95% p.a. |
Key feature | 8.99% intro rate for 6 months |
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Police Credit Union Extralite Credit Card | |
Purchase rate | 13.99% p.a. |
Key feature | Guardian Fraud Protection Service available |
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Bankwest Zero Mastercard/Platinum Mastercard | |
Purchase rate | 14.99% p.a. |
Key feature | 0% p.a. balance transfers for 28 months |
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Qudos Bank Lifestyle Plus | |
Purchase rate | 16.35% p.a. |
Key feature | 4.99% p.a. intro rate offer for 5 months |
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BankVic Qantas Visa Credit Card | |
Purchase rate | 18.95% p.a. |
Key feature | 8.99% intro rate for 6 months |
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Virgin Money No Annual Fee Credit Card | |
Purchase rate | 18.99% p.a. |
Key feature | 0% p.a. intro rate offer for 12 months (available until 15 May 2024) |
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Bendigo Bank Ready Credit Card | |
Purchase rate | 19.99% p.a. |
Key feature | $0 international transaction fees |
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Coles No Annual Fee Mastercard | |
Purchase rate | 19.99% p.a. |
Key feature | O% p.a. on purchases for 6 months (apply by 30 June 2024) |
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HSBC Premier World Mastercard (Rewards Plus) | |
Purchase rate | 19.99% p.a. |
Key feature | Earn 1.5 reward points per $1 spent (capped) |
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HSBC Premier World Mastercard (Qantas option) | |
Purchase rate | 19.99% p.a. |
Key feature | Earn 1.5 reward point per $1 spent (capped) in the first year (then 1 point in subsequent years) |
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Bank of Melbourne No Annual Fee Visa | |
Purchase rate | 20.74% p.a. |
Key feature | Get 3 additional cardholders for free |
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BankSA No Annual Fee Visa | |
Purchase rate | 20.74% p.a. |
Key feature | Get 3 additional cardholders for free |
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St.George Bank No Annual Fee Visa | |
Purchase rate | 20.74% p.a. |
Key feature | Get 3 additional cardholders for free |
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Kogan.com Money Credit Card | |
Purchase rate | 20.99% p.a. |
Key feature | Earn $300 Kogan.com credit when you spend $3k on eligible purchases in 3 months from card approval |
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Citi Simplicity Card | |
Purchase rate | 21.49% p.a. |
Key feature | 0% p.a. on purchases and balance transfers for the first 6 months |
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American Express Qantas Discovery Card | |
Purchase rate | 23.99% p.a. |
Key feature | Earn 0.75 Qantas Points per $1 spent on everyday spending |
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American Express Velocity Escape Card | |
Purchase rate | 23.99% p.a. |
Key feature | Earn 0.75 Velocity Points per $1 spent on everyday spending |
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Latitude 28° Global Platinum Mastercard | |
Purchase rate | 27.49% p.a. |
Key feature | 55 days interest free on purchases |
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Purchase rate | Key feature | Visit provider | |
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American Express Low Rate Credit Card | 10.99% p.a. | Offers card purchase and refund cover | |
Credit Union SA Workplace Benefits Credit Card | 11.49% p.a. | 0% p.a. interest for the first 6 months | |
Firefighters Mutual Bank | 11.50% p.a. | 7.90% p.a. intro rate offer for 6 months | |
Healthcare Professionals Bank | 11.50% p.a. | 7.90% p.a. intro rate offer for 6 months | |
Teachers Mutual Bank Credit Card | 11.50% p.a. | 7.90% p.a. intro rate offer for 6 months | |
UniBank Credit Card | 11.50% p.a. | 7.90% p.a. intro rate offer for 6 months | |
Heritage Bank Gold Low Rate | 11.80% p.a. | 0% p.a. balance transfer for 12 months | |
Hume Bank Value Visa | 11.95% p.a. | No fee for additional cardholders | |
ING Orange One Low Rate | 11.99% p.a. | No international transaction fees (conditions apply) | |
Bank Australia Visa Credit Card | 12.39% p.a. | Offers 24/7 fraud monitoring | |
QBANK Bluey Visa Credit Card | 12.49% p.a. | 0% balance transfer for 12 months | |
Bank First Visa Classic Credit Card | 12.54% p.a. | Up to 55 days interest free on purchases | |
Qudos Bank Lifestyle | 12.84% p.a. | 4.99% p.a. intro rate offer for 5 months | |
Horizon Bank Visa Credit Card | 12.95% p.a. | 4.99% p.a. intro rate offer for 5 months | |
BankVic Low Rate Visa | 13.95% p.a. | 8.99% intro rate for 6 months | |
Police Credit Union Extralite Credit Card | 13.99% p.a. | Guardian Fraud Protection Service available | |
Bankwest Zero Mastercard/Platinum Mastercard | 14.99% p.a. | 0% p.a. balance transfers for 28 months | |
Qudos Bank Lifestyle Plus | 16.35% p.a. | 4.99% p.a. intro rate offer for 5 months | |
BankVic Qantas Visa Credit Card | 18.95% p.a. | 8.99% intro rate for 6 months | |
Virgin Money No Annual Fee Credit Card | 18.99% p.a. | 0% p.a. intro rate offer for 12 months (available until 15 May 2024) | |
Bendigo Bank Ready Credit Card | 19.99% p.a. | $0 international transaction fees | |
Coles No Annual Fee Mastercard | 19.99% p.a. | O% p.a. on purchases for 6 months (apply by 30 June 2024) | |
HSBC Premier World Mastercard (Rewards Plus) | 19.99% p.a. | Earn 1.5 reward points per $1 spent (capped) | |
HSBC Premier World Mastercard (Qantas option) | 19.99% p.a. | Earn 1.5 reward point per $1 spent (capped) in the first year (then 1 point in subsequent years) | |
Bank of Melbourne No Annual Fee Visa | 20.74% p.a. | Get 3 additional cardholders for free | |
BankSA No Annual Fee Visa | 20.74% p.a. | Get 3 additional cardholders for free | |
St.George Bank No Annual Fee Visa | 20.74% p.a. | Get 3 additional cardholders for free | |
Kogan.com Money Credit Card | 20.99% p.a. | Earn $300 Kogan.com credit when you spend $3k on eligible purchases in 3 months from card approval | |
Citi Simplicity Card | 21.49% p.a. | 0% p.a. on purchases and balance transfers for the first 6 months | |
American Express Qantas Discovery Card | 23.99% p.a. | Earn 0.75 Qantas Points per $1 spent on everyday spending | |
American Express Velocity Escape Card | 23.99% p.a. | Earn 0.75 Velocity Points per $1 spent on everyday spending | |
Latitude 28° Global Platinum Mastercard | 27.49% p.a. | 55 days interest free on purchases |
Community First n0w Credit Card | |
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$0 annual fee conditions | $0 but monthly fee ($9 - $19) applies if there is a balance owing |
Purchase rate | 0% p.a. |
Key feature | $0 late fees |
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CommBank Neo | |
$0 annual fee conditions | $0 but monthly fee ($15 - $25) applies if there is a balance owing |
Purchase rate | 0% p.a. |
Key feature | $0 foreign exchange fees |
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NAB StraightUp Card | |
$0 annual fee conditions | $0 but monthly fee ($10 - $20) applies if there is a balance owing |
Purchase rate | 0% p.a. |
Key feature | $0 fees on international purchases |
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Westpac Flex Card | |
$0 annual fee conditions | $0 if no outstanding balance, otherwise $10/month |
Purchase rate | 0% p.a. |
Key feature | No interest (up to $1,000 credit limit) |
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Illawarra Credit Union Low Rate | |
$0 annual fee conditions | $0 in first year, then $50 |
Purchase rate | 8.99% p.a. |
Key feature | Up to 45 interest free days on purchases |
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MOVE Bank Low Rate Card | |
$0 annual fee conditions | $0 in first year, then $59 |
Purchase rate | 8.99% p.a. |
Key feature | 0% p.a. balance transfer for 6 months |
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Greater Bank Visa Credit Card | |
$0 annual fee conditions | $0 after year one if $12k is spent on the card in the previous year, otherwise $49 |
Purchase rate | 9.95% p.a. |
Key feature | Up to 55 days interest free on purchases |
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Bank of Us Visa Credit Card | |
$0 annual fee conditions | $0 if you spend $8k per year, otherwise $39 |
Purchase rate | 9.99% p.a. |
Key feature | Up to 58 days interest-free credit |
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First Option Bank Low Rate Visa | |
$0 annual fee conditions | $0 in first year, then $48 |
Purchase rate | 10.49% p.a. |
Key feature | Up to 45 interest free days on purchases |
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Bank of Heritage Isle Visa | |
$0 annual fee conditions | $0 in first year, then $30 |
Purchase rate | 10.76% p.a. |
Key feature | Up to 55 interest free days on purchases |
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Border Bank Visa | |
$0 annual fee conditions | $0 in first year, then $30 |
Purchase rate | 10.76% p.a |
Key feature | Up to 55 interest days free on purchases |
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Police Bank Visa | |
$0 annual fee conditions | $0 in first year, then $30 |
Purchase rate | 10.76% p.a |
Key feature | Up to 55 interest days free on purchases |
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Great Southern Bank Low Rate Card | |
$0 annual fee conditions | $0 in first year, then $49 |
Purchase rate | 11.99% p.a. |
Key feature | No fee for up to 9 extra cardholders |
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Summerland Credit Union Low Rate | |
$0 annual fee conditions | $0 in first year, then $49 |
Purchase rate | 11.99% p.a. |
Key feature | 0% p.a. balance transfer for 9 months |
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Suncorp Clear Options Standard Credit Card | |
$0 annual fee conditions | $0 in first year, then $55 |
Purchase rate | 12.74% p.a. |
Key feature | 0% p.a. for 6 months on purchases and balance transfers |
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Unity Bank Visa | |
$0 annual fee conditions | $0 in first year, then $60 |
Purchase rate | 13.49% p.a. |
Key feature | 7.74% p.a. intro rate for 6 months |
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NAB Low Rate Card (balance transfer) | |
$0 annual fee conditions | $0 in first year, then $59 |
Purchase rate | 13.49% p.a. |
Key feature | 0% p.a. balance transfer for 28 months |
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ANZ Low Rate credit card (balance transfer offer) | |
$0 annual fee conditions | $0 in first year, then $58 |
Purchase rate | 13.74% p.a. |
Key feature | 0% p.a. balance transfer for 28 months |
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Westpac Low Rate Balance Transfer/Cashback Offer | |
$0 annual fee conditions | $0 in first year for existing Westpac customers |
Purchase rate | 13.74% p.a. |
Key feature | 0% p.a. for 28 months on balance transfers or $350 cashback |
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Hume Bank Clear Visa Credit Card | |
$0 annual fee conditions | $0 if you spend $8k per year, $30 otherwise |
Purchase rate | 14.95% p.a. |
Key feature | Earn loyalty points for every $1 you spend |
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Heritage Bank Visa Classic Credit Card | |
$0 annual fee conditions | $0 if you spend $25k/year, $55 otherwise |
Purchase rate | 17.99% p.a. |
Key feature | Up to 55 days interest free on purchases |
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MoneyMe Freestyle Credit Card | |
$0 annual fee conditions | $0 on credit limits up to $3k ($5 monthly fee apples if card balance is above $20). |
Purchase rate | 18.74%-23.74% p.a depending on credit score |
Key feature | Earn cash back at 2,000+ stores |
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Summerland Credit Union Rewards | |
$0 annual fee conditions | $0 in first year, then $79 |
Purchase rate | 18.99% p.a. |
Key feature | 1 point per $2 spent on eligible purchases |
Visit provider | |
Westpac Low Fee Card | |
$0 annual fee conditions | $0 if you spend $5k per year, $30 otherwise |
Purchase rate | 19.74% p.a. |
Key feature | Up to 55 interest free days on purchases |
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HSBC Platinum Credit Card | |
$0 annual fee conditions | $0 in first year, then $149 |
Purchase rate | 19.99% p.a. |
Key feature | 0% p.a. on balance transfers for 12 months |
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HSBC Platinum Qantas Credit Card | |
$0 annual fee conditions | $0 in first year, then $299 |
Purchase rate | 19.99% p.a. |
Key feature | 1.5 Qantas points for every $1 spent on eligible purchases up to $120k in first 12 months |
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HSBC Star Alliance Card | |
$0 annual fee conditions | $0 in first year, then $450 |
Purchase rate | 19.99% p.a. |
Key feature | Earn uncapped Star Alliance Points |
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Virgin Australia Velocity Flyer Card (balance transfer) | |
$0 annual fee conditions | $0 in first year, then $149/year |
Purchase rate | 20.74% p.a. |
Key feature | 0.66 Velocity Points per $1 spent on eligible transactions |
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ANZ First Credit Card | |
$0 annual fee conditions | $0 in first year then $30 |
Purchase rate | 20.99% p.a. |
Key feature | $125 cashback when you spend $750 on eligible purchases in the first 3 months |
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Commonwealth Bank Low Fee | |
$0 annual fee conditions | $0 monthly fee if you spend at least $300/month, otherwise $3/month fee applies |
Purchase rate | 20.99% p.a. |
Key feature | Up to 55 interest free days on purchases |
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ANZ Platinum | |
$0 annual fee conditions | $0 in first year and subsequent years if $20k/year spent on card in previous year, $87 otherwise |
Purchase rate | 20.99% p.a. |
Key feature | Complimentary travel insurance |
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Commonwealth Bank Smart Awards (Rewards Option) | |
$0 annual fee conditions | $0 if you spend $2k during each statement period. Otherwise $19/month. |
Purchase rate | 20.99% p.a. |
Key feature | Earn 25,000 CommBank Awards points each month when you spend $1,500 or more per month for the first three months |
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Commonwealth Bank Ultimate Awards | |
$0 annual fee conditions | $0 if you spend $4k during statement period. Otherwise $35/month. |
Purchase rate | 20.99% p.a. |
Key feature | Earn up to 3 Awards points or 1.2 Qantas Points for every $1 spent |
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American Express Platinum Edge Credit Card | |
$0 annual fee conditions | $0 in first year, then $195/year |
Purchase rate | 23.99% p.a. |
Key feature | Up to 3 points per $1 spent |
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Latitude GO Mastercard | |
$0 annual fee conditions | $0, but $9.95 fee applies when card balance is more than $10. |
Purchase rate | 27.49% p.a. |
Key feature | 6 months interest free on purchases of $250 or more. |
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$0 annual fee conditions | Purchase rate | Key feature | Visit provider | |
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Community First n0w Credit Card | $0 but monthly fee ($9 - $19) applies if there is a balance owing | 0% p.a. | $0 late fees | |
CommBank Neo | $0 but monthly fee ($15 - $25) applies if there is a balance owing | 0% p.a. | $0 foreign exchange fees | |
NAB StraightUp Card | $0 but monthly fee ($10 - $20) applies if there is a balance owing | 0% p.a. | $0 fees on international purchases | |
Westpac Flex Card | $0 if no outstanding balance, otherwise $10/month | 0% p.a. | No interest (up to $1,000 credit limit) | |
Illawarra Credit Union Low Rate | $0 in first year, then $50 | 8.99% p.a. | Up to 45 interest free days on purchases | |
MOVE Bank Low Rate Card | $0 in first year, then $59 | 8.99% p.a. | 0% p.a. balance transfer for 6 months | |
Greater Bank Visa Credit Card | $0 after year one if $12k is spent on the card in the previous year, otherwise $49 | 9.95% p.a. | Up to 55 days interest free on purchases | |
Bank of Us Visa Credit Card | $0 if you spend $8k per year, otherwise $39 | 9.99% p.a. | Up to 58 days interest-free credit | |
First Option Bank Low Rate Visa | $0 in first year, then $48 | 10.49% p.a. | Up to 45 interest free days on purchases | |
Bank of Heritage Isle Visa | $0 in first year, then $30 | 10.76% p.a. | Up to 55 interest free days on purchases | |
Border Bank Visa | $0 in first year, then $30 | 10.76% p.a | Up to 55 interest days free on purchases | |
Police Bank Visa | $0 in first year, then $30 | 10.76% p.a | Up to 55 interest days free on purchases | |
Great Southern Bank Low Rate Card | $0 in first year, then $49 | 11.99% p.a. | No fee for up to 9 extra cardholders | |
Summerland Credit Union Low Rate | $0 in first year, then $49 | 11.99% p.a. | 0% p.a. balance transfer for 9 months | |
Suncorp Clear Options Standard Credit Card | $0 in first year, then $55 | 12.74% p.a. | 0% p.a. for 6 months on purchases and balance transfers | |
Unity Bank Visa | $0 in first year, then $60 | 13.49% p.a. | 7.74% p.a. intro rate for 6 months | |
NAB Low Rate Card (balance transfer) | $0 in first year, then $59 | 13.49% p.a. | 0% p.a. balance transfer for 28 months | |
ANZ Low Rate credit card (balance transfer offer) | $0 in first year, then $58 | 13.74% p.a. | 0% p.a. balance transfer for 28 months | |
Westpac Low Rate Balance Transfer/Cashback Offer | $0 in first year for existing Westpac customers | 13.74% p.a. | 0% p.a. for 28 months on balance transfers or $350 cashback | |
Hume Bank Clear Visa Credit Card | $0 if you spend $8k per year, $30 otherwise | 14.95% p.a. | Earn loyalty points for every $1 you spend | |
Heritage Bank Visa Classic Credit Card | $0 if you spend $25k/year, $55 otherwise | 17.99% p.a. | Up to 55 days interest free on purchases | |
MoneyMe Freestyle Credit Card | $0 on credit limits up to $3k ($5 monthly fee apples if card balance is above $20). | 18.74%-23.74% p.a depending on credit score | Earn cash back at 2,000+ stores | |
Summerland Credit Union Rewards | $0 in first year, then $79 | 18.99% p.a. | 1 point per $2 spent on eligible purchases | |
Westpac Low Fee Card | $0 if you spend $5k per year, $30 otherwise | 19.74% p.a. | Up to 55 interest free days on purchases | |
HSBC Platinum Credit Card | $0 in first year, then $149 | 19.99% p.a. | 0% p.a. on balance transfers for 12 months | |
HSBC Platinum Qantas Credit Card | $0 in first year, then $299 | 19.99% p.a. | 1.5 Qantas points for every $1 spent on eligible purchases up to $120k in first 12 months | |
HSBC Star Alliance Card | $0 in first year, then $450 | 19.99% p.a. | Earn uncapped Star Alliance Points | |
Virgin Australia Velocity Flyer Card (balance transfer) | $0 in first year, then $149/year | 20.74% p.a. | 0.66 Velocity Points per $1 spent on eligible transactions | |
ANZ First Credit Card | $0 in first year then $30 | 20.99% p.a. | $125 cashback when you spend $750 on eligible purchases in the first 3 months | |
Commonwealth Bank Low Fee | $0 monthly fee if you spend at least $300/month, otherwise $3/month fee applies | 20.99% p.a. | Up to 55 interest free days on purchases | |
ANZ Platinum | $0 in first year and subsequent years if $20k/year spent on card in previous year, $87 otherwise | 20.99% p.a. | Complimentary travel insurance | |
Commonwealth Bank Smart Awards (Rewards Option) | $0 if you spend $2k during each statement period. Otherwise $19/month. | 20.99% p.a. | Earn 25,000 CommBank Awards points each month when you spend $1,500 or more per month for the first three months | |
Commonwealth Bank Ultimate Awards | $0 if you spend $4k during statement period. Otherwise $35/month. | 20.99% p.a. | Earn up to 3 Awards points or 1.2 Qantas Points for every $1 spent | |
American Express Platinum Edge Credit Card | $0 in first year, then $195/year | 23.99% p.a. | Up to 3 points per $1 spent | |
Latitude GO Mastercard | $0, but $9.95 fee applies when card balance is more than $10. | 27.49% p.a. | 6 months interest free on purchases of $250 or more. |
In our no annual fee credit card guide:
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A no annual fee credit card is a type of credit card that does not charge a fee for access to credit. The fee can be waived for an introductory period, or for the life of the card (often with a minimum yearly spend).
A no annual fee card can help save between $29 and $450 per year in fees (the average credit card fee is around $135). In summary, no annual fee credit cards:
Save up to $450 by skipping the annual fee
A cheap way to access a credit card if you need one
Combine with a low interest rate to save more
Usually a basic card light on expensive frills
Credit card providers usually charge an annual fee in return for giving customers access to the credit and the various perks, rewards, and features a card may offer.
A no annual fee credit card doesn’t charge a fee simply for holding the card. The trade off for the cardholder is usually having access to fewer features and perks.
For this reason it’s much more common to see no annual fee on a more basic credit cards. If you’re looking for a credit card offering rewards or a card with frequent flyer perks, you’ll almost always pay an annual fee. For premium cards, the annual fee can be in excess of $1,000.
That said, there are a handful of credit cards with Qantas points that have a $0 annual fee.
Some credit cards for businesses also come with no annual fee.
There are cards where the $0 annual fee is built in as long as you hold the card. This is the ideal scenario as you don't need to worry about the card reverting to an annual fee or meeting specific criteria to avoid the fee.
A no-fee introductory offer waives the card’s annual fee for a specific period (usually one year) before reverting to the card’s standard annual fee.
An introductory offer can often be beneficial if combined with a 0% balance transfer. This allows the cardholder to repay the transferred balance, with no interest applying to their balance during the offer period, and no annual fee.
Just be aware of the card’s standard annual fee and rate which the card will revert to.
Other types of no fee credit cards will waive the annual fee provided you to spend a certain amount on the card each month or year.
Some minimum spend offers are for the life of the card. As long as you spend the minimum amount, you theoretically will never pay an annual fee.
Be wary of the trap of spending more money than you otherwise would to reach the spend ‘target’. Doing that would more or less defeat the purpose of saving on an annual fee.
To qualify for a no annual fee credit card you must meet the following qualifying criteria:
Qualifying criteria will vary between lenders and cards, so it’s important to compare no fee credit cards before applying to ensure you are eligible.
For example, it's a good idea to check your credit score before applying.
You can apply for a no annual fee credit card online, over the phone, or at your bank. A key part of the application process is demonstrating that you have the income and assets to repay the full credit limit. To do this, you may need to provide:
If you are self-employed, you will need to provide previous tax assessments instead of payslips. You may also need to provide information from your accountant.
A no fee credit card can offer savings in the right circumstances. But how you plan to use your card will help determine it's suitable for. Here are some factors to consider when choosing a no fee credit card:
When comparing no fee credit cards, be sure to check all fees and the purchase rate to work out the true cost of the card and whether it is suitable for your circumstances.
Remember, the annual fee is just one of the fees you could be charged on a credit card. Others fees to watch for on no annual fee credit cards include:
The interest rates for no annual fee credit cards range from around 8.99% to 26.99% p.a. Although it’s common for the lowest rate advertised on no annual fee cards to be an introductory offer (it may even be a temporary interest-free credit card offer) that reverts to a higher rate after six or 12 months.
Interest is generally calculated daily on the balance owing and is charged once per month. Interest is charged on top of an annual fee. So even if you hold a no fee credit card, you will still pay interest on your balance until it is repaid.
While a no fee credit card may not include the same level of perks and features as other credit cards, they still offer various benefits in certain situations. People often choose no fee credit cards if they:
Credit card providers charge an annual fee to give cardholders access to credit. A no fee card waives this annual fee either for an introductory period, or for the life of the card and generally with a minimum yearly spend.
You can cancel your no fee credit card before the end of the introductory period, however you should check the cancellation process with your credit card issuer to ensure you are not liable for any additional fees.
As with all credit cards, the best no fee card is the one which suits your spending habits, income, and provides the most benefits for your personal circumstances. Compare no fee cards before applying to find the best card for you.
Low-interest credit cards offer some of the lowest purchase rates, but there may be other fees and charges that make them more expensive. There may be fees for late payment, annual fees, and other penalties.
While no fee credit cards generally do not include rewards, there may be a few available which do (e.g. there are a handful of these credit cards that offer travel insurance as a complimentary add on).
Be aware that no fee cards with rewards or features will generally include a higher purchase rate than those without.