Top No Annual Fee Rewards Credit Cards

woman holding no annual fee rewards credit card while redeeming earning points while shopping online on her phone and laptop

When shopping with a rewards credit card, you earn points as you spend that can then be exchanged for products or perks, such as free flights, upgrades, cash back or gift cards. The value of a reward point varies but is often in proportion to each dollar you spend, so it’s essential to find a card that suits your lifestyle. Each rewards program comes with its own specific terms and conditions, so be sure to know the details of your card’s policy.

Do rewards credit cards have higher fees?

These benefits come at a price. Premium cards often come with more fees and higher interest rates than basic cards.

Do low fee cards have fewer benefits?

In general, when it comes to credit cards the lower the fees, the fewer bells and whistles. Cards with no annual fee do not usually come with a rewards program.

But what if you want the best of both worlds? Look no further! Check out some rewards credit cards that also offer no annual fees:

Compare rewards credit cards with no annual fees:

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Important disclosures
Kogan Money Black Card
  • No Annual Fee
  • Earn 1 point per $1 spent on eligible purchases (conditions apply)
  • Up to $400 Kogan.com credit (conditions apply)
Find out more

If you’re a loyal Kogan customer looking to earn rewards on your shopping, then the Kogan Money Black Card could be for you. If you apply before August 2, 2021, you could earn up to $400 in Kogan.com store vouchers - $50 credit on your first eligible purchase within the first 30 days and an additional $350 credit when you spend $1,500 on eligible purchases in the first 90 days. With this card you’ll also earn 1 point per $1 spent on eligible purchases, 2 points per $1 on Kogan exclusive brand purchases and points are uncapped. While there is no annual fee and up to 55 interest free days on purchases, just remember this card comes with a hefty 20.99% p.a. interest rate.

American Express Qantas Discovery Card
  • No Annual Fee
  • 2020 Mozo Expert Choice Award Winner^
  • 0.75 Qantas Points per $1 on everyday spend (conditions apply)

Taking a 2020 Mozo Experts Choice Award^ for Best Qantas Frequent Flyer Credit Card, the Qantas American Express Discovery credit card is a stand-out in the world of rewards credit cards, with no annual fee and lots of rewards benefits. With this card, you can earn 0.75 Qantas Points per $1 on your everyday shopping and 1 additional point per $1 spent on Qantas within Australia. Keep in mind, like many rewards credit cards, the Qantas American Express Discovery has a fairly high interest rate of 20.74% p.a, so it is best to pay your balance within the 55 interest free days.

American Express Velocity Escape Card
  • No Annual Fee
  • 55 interest free days
  • 0.75 Velocity Points per $1 on your everyday spending (conditions apply)
Find out more

The American Express Velocity Escape Card allows you to earn 0.75 Velocity reward points on every $1 you spend (plus 1 point on every $1 spent with Virgin Australia), with no annual fee. While you’re racking up points, be sure to pay off your balance within the 55-day interest free window, as the card does have a high 20.74% p.a interest rate. So, if you are a frequent traveller on Virgin Australia and their associated airlines, this card could be a logical choice.


^See information about the Mozo Experts Choice Credit Card Awards

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