Best No Annual Fee Credit Cards in Australia: Free Cards Compared

For most people, the Bankwest Zero Platinum Mastercard is the strongest no annual fee card in Australia: no annual fee, no international transaction fees, up to 55 interest-free days and an 18.99% p.a. purchase rate. It earns no points, and Bankwest's own terms exclude it from complimentary overseas travel insurance. The best free card for you depends on whether you want points, savings overseas or simply the cheapest way to hold a card.

What is the best no annual fee credit card in Australia?

Bankwest Zero Platinum is the best all-rounder because it removes the two costs most cardholders pay without noticing: the annual fee and the international transaction fee of around 3% on foreign-currency purchases. The trade-off is a A$6,000 minimum credit limit, so you need enough income to pass the lender's assessment for that amount. If you want a smaller limit, the classic Bankwest Zero Mastercard starts at A$1,000 but charges a 2.95% international transaction fee.

How do the no annual fee cards compare?

The table uses figures from each issuer's website in September 2026.

Both Bankwest Zero cards currently offer 0% p.a. on purchases and balance transfers for the first six months, with a 3% balance transfer fee, after which the 18.99% p.a. rate applies. Cash advances cost 21.99% p.a. plus a fee of 3% or A$4, whichever is more.

How much does a no international fee card save?

It saves the fee percentage on every foreign-currency purchase, including online shopping with overseas merchants. As a worked example, assume you spend A$5,000 on a holiday abroad:

• A card with a 3% international transaction fee adds A$5,000 × 3% = A$150.
• The classic Bankwest Zero adds A$5,000 × 2.95% = A$147.50.
• Bankwest Zero Platinum and Latitude 28° add nothing on purchases.

Streaming services and software billed in US dollars count too. See our guide to foreign transaction fees for how the charge is applied.

Is the Latitude 28° card really free?

Only in the first year, or if you spend enough. Latitude charges A$8 a month (A$96 a year) after the first 12 months unless you spend A$12,000 a year on eligible purchases, which is A$1,000 a month. If you use it as your main card, that is easy to reach; if it sits in a drawer for holidays, Bankwest Zero Platinum is cheaper. Latitude's purchase rate is also higher than Bankwest's, so it is not a card to carry a balance on.

In return, Latitude adds travel extras that Bankwest does not: a Flight Delay Pass that opens selected airport lounges when your flight is delayed by two hours or more, 3GB of global mobile data a year, and e-commerce and purchase protection cover.

Can you earn points on a no annual fee card?

Yes, but slowly. The Coles No Annual Fee Mastercard earns 1 Flybuys point per A$2 on eligible purchases, capped at A$5,000 of spending per statement period. Spend A$2,000 a month and you collect 1,000 points a month. Coles waives its international transaction fee on retail purchases only for the Coles Rewards Mastercard, which costs A$99 a year, so the free Coles card is a poor choice for overseas spending.

Which no annual fee card suits you?

Match the card to the job you want it to do. Most people need only one free card, plus a second card on a different network as a backup when travelling.

• You travel or buy from overseas websites: Bankwest Zero Platinum if you can qualify for the A$6,000 minimum limit, or Latitude 28° if you will spend A$12,000 a year on it and value the lounge and data extras.
• You want a small limit and a simple card: the classic Bankwest Zero, from A$1,000, kept for spending in Australia to avoid its 2.95% overseas fee.
• You shop at Coles and want points without a fee: the Coles No Annual Fee Mastercard, accepting a modest earn rate and its cap of A$5,000 a statement period.
• You sometimes carry a balance: no fee does not mean cheap. At 18.99% p.a., a A$2,000 balance carried all year costs about A$380 in interest, so compare low rate cards first, even if they charge a small fee.

When does a card with a fee beat a free one?

A fee card wins only when the rewards you earn and use are worth more than the fee. The quickest test is the break-even spend: the annual fee divided by what you earn per dollar.

1. Qantas Premier Platinum (A$399 fee, 1 point per A$1): if you value a Qantas Point at 1.5 cents (an assumption), you need A$399 ÷ 0.015 = A$26,600 a year, about A$2,217 a month, to break even.
2. ING Orange One Rewards Platinum (A$149 fee, 1% cashback up to A$30 a month): you need A$14,900 a year, about A$1,242 a month. The most you can earn is A$360 a year, so the best possible net gain is A$211. ING also charges no international transaction fee, but you need an Orange Everyday account, income of at least A$36,000 and a A$6,000 minimum limit.
3. Coles Rewards Mastercard (A$99 fee): it earns more Flybuys points than the free Coles card and waives the international fee on retail purchases. From 1 October 2026 it earns 2 points per A$1 at Coles Supermarkets and 1 point per A$1 elsewhere.

If your monthly spending sits below these thresholds, a free card is the better deal. Heavy spenders who fly should read our guide to frequent flyer credit cards.

Will a no annual fee card help your credit score?

Yes, if you pay on time, because the annual fee plays no part in your credit report. Under comprehensive credit reporting, lenders can see your monthly repayment history for the past two years, according to the OAIC. A payment of A$150 or more that is 60 days overdue can be listed as a default and stays on your report for five years. You can get a free copy of your report from each credit reporting body every three months.

Lower limits also make approval easier. Since 1 January 2019, ASIC rules require lenders to check whether you could repay the whole credit limit within three years. A A$1,000 limit is easier to justify than the A$6,000 minimum on Bankwest Zero Platinum.

How do you get the most from a free credit card?

1. Set a direct debit for the full closing balance so you never pay the 18.99% or higher purchase rate.
2. Use the no international fee card for every foreign-currency purchase, including subscriptions billed overseas.
3. When a terminal or ATM overseas offers to charge you in Australian dollars, decline and pay in the local currency so the card network sets the rate.
4. Buy separate travel insurance if you need it; do not assume a free card includes it.
5. Keep the limit no higher than you need, so the lender's assessment is easier and your available credit is not a temptation.
6. Keep your oldest card open if it costs nothing, because a long, clean repayment record helps future applications.

Carrying debt already? Our guide to balance transfer cards in Australia explains the 0% offers. You can also compare the Bankwest Zero Platinum, Latitude 28° Global Platinum, ING Orange One Rewards Platinum and Coles Rewards Mastercard, or every card on our Australia credit cards hub.