Best Credit Cards With No Annual Fees
February 16th, 2010
Discover the best credits for no annual fees, and the circumstances in which you should choose one of these cards if you want to save yourself some money.
0% p.a. for 6 months with 2% handling fee
Best No Annual Fee Credit Card
The HSBC Credit Cards card provides customers with $0 annual fee for life, as well as a competitive 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
Credit cards with no annual fees are the best credit cards for anyone who always manages to avoid keeping a balance on their statement from one month to the next. Provided you are paying off your bill in full each month, then you should certainly be looking at a no annual fee credit card as a way of saving yourself some money.
Clearing your bill means that you hate to pay interest charges. So why bother doing that and then having to pay an annual fee? The trade-off when you don’t pay an annual fee can often be that your purchase interest rate is higher than normal, but that is irrelevant if you never go beyond your 55 interest-free days. If you can clear your debt each month and pay no annual fee, then you can enjoy a completely charge-free credit card.
The best credit card of this type will depend on what else you want to see in its list of features. This will require that you make a comparison, otherwise you may not pick the card that is best suited to your needs. You should also be aware that there are some cards that only waive the annual fee in the first year. These cards may possess slightly better interest rates, so may be the best credit card for anyone who thinks they may have an unpaid balance on their card from time to time.
The following list should give you some idea of what’s on offer in the no annual fee department, but you must look more deeply into the features of each card to know if they are entirely suitable, and bear in mind this is not a definitive list:
- Bankwest Zero Platinum MasterCard – No annual fee for life
- HSBC Credit Card - No annual fee for life
- American Express Gold Ascent Credit Card – No annual fee for life
- ANZ First Credit Card - No annual fee for the first year, then $30 per year
- Commonwealth Bank Low Fee Card – No annual fee if you spend over $1000 per year, otherwise $24 per year
- HSBC Gold Visa Card - No annual fee for the first year, then $89 per year
If the purchase interest rate on a credit card is of no relevance to you, then your best credit cards may be one with no annual fee.
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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