When browsing credit card offers on U.K. and U.S. websites, one is struck by the lack of annual fees. Competition between credit card providers has mostly done away with them, along with high interest rates and exorbitant fees for balance transfers and other services.

The good news for Australians is, the competition here is heating up, as well. New entries into the Australian credit card industry are expected to bring down both fees and rates—including annual fees, which currently run between $30 and $395. Readmore