What does “no frills” mean?

Many no annual fee credit cards are advertised as “no frills.” But what does “no frills” mean exactly?

The general idea behind no frills credit cards is that, in return for a cheaper card, the account holder gets fewer extras. This doesn’t mean the actual credit card is any worse than the average and the standard policies should still be in place, including the zero liability guarantee, credit card helpline, and interest free grace period. There may be a few credit cards on the Australian market that don’t offer these features, but they will be very rare.
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Do no annual fee credit cards have to be no frills?

No frills credit cards are lower priced because they have none of the extra benefits that can be included in credit card offers. A large number of no annual fee credit cards are no frills. But it is not necessarily the case that all credit cards without annual fees are no frills.
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Getting a no annual fee credit card as a second card

No annual fee credit cards tend to have slightly higher interest rates as well as less attractive extras such as insurance on the card and reward schemes.  However they can be very useful as a second credit card.
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Do I lose out if I get a no annual fee credit card?

No annual fee credit cards are different from most credit cards as most cards charge an annual fee.  This means that the question about these credit cards is what has been missed.
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Match Your No Annual Fee Card to Your Spending Habits

When it comes to choosing credit cards, the big ‘X factor’ that prevents anybody honestly saying that ‘this is the best credit card’ is a person’s spending habits. For example, the value that a single credit card offers to a person who only spends in emergencies, but is very slow to pay off the balance, compared to a person who puts all their everyday spending on the credit card but pays off the entire balance every month, will be very different. Today we check out the no annual fee credit card that will suit you, according to your spending habits! Read the rest of this entry »