Best 0% purchase credit cards December 2017
Tick off your gift list without clocking up interest this Christmas.
Credit cards can be a great way to free up your cash flow over the holidays. But if you’re unable to pay off your balance by the end of the statement period, the interest can rack up and mount into debt long after the Christmas decorations have been packed away. In fact, the average Aussie cardholder was left with a credit card debt of $1,666 after Christmas in 2016.
If you want some more time to pay off your plastic purchases without interest this December, we’ve narrowed down some of the best 0% purchase credit cards available through finder this month.
As there is no one "best" credit card for every Aussie, our top picks range from cards with long-term interest-free offers to low competitive annual fees. This way you can compare a few different options and decide which one is right for you.
Please note that the rates, features and fees mentioned here are correct at the time of publication.
Credit cards with 0% on purchases to compare this Christmas
- 0% on purchases for 14 months
- $129 annual fee
The Virgin Australia Velocity Flyer Card boasts the longest interest-free promotion in this month’s lineup with 0% on purchases for 14 months. That means you could be paying off this year’s Christmas presents without collecting any interest until early 2019. If you’re a Velocity Frequent Flyer, you’ll also be rewarded with 0.66 Velocity Points per $1 spent up to $1,500 every statement period and 0.5 points per dollar spent after that.
After the first 14 months, any remaining purchases will collect the standard purchase rate of 20.74% p.a., so this card is best suited to cardholders who can afford to pay off their balance before this applies. The card also has an annual fee of $129 p.a. To make the most of the card, the interest you save with the 0% promotion and the value of the rewards you redeem from your Velocity Points should offset this annual fee.
This offer is available for new cardholders who apply and are approved by 31 January 2018.
- 0% on purchases for 9 months
- $100 annual fee
The NAB Low Rate Platinum credit card is currently offering 0% on purchases for the first 9 months.
This reverts to 13.99% p.a. at the end of the introductory period. You should always aim to pay off your debt in full, but this card could be an option if you want to play it safe with a lower revert rate just in case you can’t.
Although this card doesn’t come linked with a rewards program, it does come with complimentary travel and purchase insurances as well as a concierge service. These perks come at the cost of a $100 annual fee.
If you’d prefer to pay a lower annual fee, the NAB Low Rate card also currently offers 0% on purchases for the first 6 months with a $59 annual fee.
- 0% on purchases for 3 months
- $0 annual fee for the first year ($87 p.a. thereafter)
If you want the motivation to clear your Christmas debt quickly, the ANZ Platinum credit card could be right for you. With 0% on purchases for the first 3 months, it has the shortest promotional period in this month’s roundup.
Once the three months are up, any remaining purchases will collect the standard 19.74% p.a. purchase rate. So make sure you clear your debt before this applies if you want to avoid collecting interest.
If you apply by 17 December 2017, you also won’t have to pay the standard $87 annual fee for the first year.
How do these 0% purchase credit cards compare?
All of these cards offer competitive interest-free offers, but which one is right for you? This will largely depend on your budget, spending behaviour and ability to repay.
If you’re looking to splurge this Christmas and need more time to pay off your debt, you might be better off going with one of the cards with a longer promotional period. Otherwise, if you don’t think you can pay off your entire debt before the introductory offer ends, it might be wise to consider a card like the NAB Low Rate Platinum that has a lower revert rate.
If you only need a few months to clear your debt and plan to do so before the promotion ends, you could use the ANZ Platinum credit card to avoid interest and cut back on costs with the $0 annual fee for the first year.
Although these are some of the 0% offers we’ve hand picked this month, you can compare even more 0% purchase credit cards on finder. Want more ideas? You can also check out our 12 cards of Christmas for more credit cards to compare this holiday season.