Best No Annual Fee Credit Card
June 1st, 2010
The best no annual fee credit cards will give you many of the benefits that you can get on a card with an annual fee.
0% p.a. for 6 months with 2% handling fee
Best No Annual Fee Credit Card
With the HSBC Credit Card, not only will you receive no annual fee for the life of the card but you can take advantage of the balance transfer offer of
- $0 annual fee
- 17.99% p.a. on purchases
- 0% p.a. for 6 months with 2% handling fee on balance transfers
- Cash Advance Rate of 21.99% p.a.
- 55 days interest free
These cards are trickier to find but they are available. There are different types of cards that offer no annual fee, and you should learn everything you can about them to make sure you choose the best one for you.
Best no annual fee credit cards
Credit cards that don’t charge an annual fee may seem like the logical choice, but they aren’t always. The best no annual fee credit cards still charge a reasonable interest rate, but they are harder to find. Most often these cards come at a higher price. This means that if you use the card to make purchases and are not able to pay off the balance in full every month, you will end up paying high interest charges. This can add up to be higher than an annual fee on another card. Try to find a no annual fee card that at least has a reasonable interest rate.
When comparing the best no annual fee credit cards, look for cards that have a rewards scheme. Some of them do not offer this because their main feature is having no annual fee.
The best no annual fee cards are better suited for people that want a credit card to put away for emergencies. If you feel that you want a card that you can tuck away for security but seldom use, then this is the best type of card you can choose. There is no use paying an annual fee for a card that will hardly be used, and if you make sure that you pay off the balance in full every time you receive your card statement, the card will end up being totally free.
There are three different types of no annual fee cards available.
Special discount no annual fee cards
You may get a special discount for your annual fee if you have another product with your bank, such as a checking account that is linked to the credit card account
No annual fee for the lifetime of the card
This no annual fee card will not charge an annual fee for as long as you own the card.
No annual fee payable for the first year only
This type of no annual fee credit card will charge you an annual fee after the first year has expired. You need to check and make sure that the annual fee that kicks in during the second year is not extremely high. You may end up paying more in the long run.
The best no annual fee credit cards on the market offer a reasonable rate of interest with some of the benefits you might find on other cards. If you’re not going to be using your card too often, this type of card should be your first choice.
Editors Choice: Featured Credit Card Deals
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Cash Advance Rate (p.a.) | ||
|---|---|---|---|---|---|
 Westpac 55 Day Credit Card | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 | 21.49% |
|
 Citibank Clear Platinum Card | 11.99% | 2.9% for 12 months | $99 | 21.74% |
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