Shop now and save on interest charges with a credit card that offers 0% p.a. on purchases for up to 14 months.
Exclusive to finder.com.au - Citi Credit Card Offer
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. interest for 13 months on purchases and balance transfers
Discounted annual fee of $49 for the first year
Exclusive to finder.com.au
Offer ends 31 December 2019
Eligibility criteria, terms and conditions, fees and charges apply
Exclusive to finder.com.au - Citi Credit Card Offer
Save with 0% p.a. interest on purchases and balance transfers (with no balance transfer fee) for up to 13 months and a discounted annual fee for the first year.
- $49 p.a. annual fee for the first year ($149 p.a. thereafter).
- 20.99% p.a. on purchases
- 0% p.a. for 13 months with 0% BT fee on balance transfers
- Cash advance rate of 21.74% p.a.
- Up to 55 days interest free
- Minimum income requirement of $35,000 p.a.
Compare 0% purchase credit card offers
What is a 0% purchase credit card?
A 0% purchase rate credit card gives you a way to buy what you want (or need) without being charged interest during the introductory period. With this type of offer, you’ll typically get an interest-free period that lasts between 3 and 14 months from when you’re approved for the card.
What’s the catch with 0% purchase rate credit cards?
At the end of the introductory period, the 0% rate reverts to that credit card’s standard interest rate for purchases. This means you’ll be charged interest if you haven’t paid off everything that you bought during the 0% p.a. period. Any new purchases you make will also attract interest charges at the standard rate for your card.
While potential interest charges and debt are the biggest risks to watch out for with a 0% purchase rate offer, many of these cards also charge an annual fee that can add to your upfront costs.
The best 0% purchase credit cards*: finder.com.au
Compare the features of these competitive interest-free credit card offers:
- NAB Low Rate Platinum Card. Enjoy 0% p.a. interest for 15 months on purchases, plus platinum perks.
- St.George Amplify. Enjoy a 0% p.a. interest rate for 14 months on purchases and earn rewards points per $1 spent.
How does a 0% p.a. purchase credit card work and when is it useful?
0% purchase credit cards can help you save on account costs when you need to make a large purchase, or when you know you’ll be spending a lot of money in a short amount of time. For example, if you’re travelling overseas, shopping for Christmas presents or planning a wedding, a 0% p.a. credit card gives you a way to get what you need when you need it and pay it off over time with zero interest.
However, if you’re still carrying a balance from your purchases after the introductory period ends, the card’s standard interest rate will apply to the debt. Paying off a 0% purchase credit card before the end of this period means you will get the greatest value from the interest-free offer.
How much money can I save with a 0% interest credit card?
Suppose you want to book an overseas flight that costs $2,000 and plan to pay $200 onto your credit card each month. If you paid for your flights on a card with a 17% p.a. interest rate, it would take you around 11 months to pay off the balance and cost you about $172 in interest charges.
In comparison, if you had a credit card that offered 0% p.a. on purchases for 12 months, you could pay off your flights in 10 months without any interest charges.
How can I find the best 0% purchase rate credit card?
Credit cards with 0% purchase rate offers are designed to suit different goals, so there isn’t one “best” option. But you can find a 0% purchase credit card that works for you by looking at the following features:
- The 0% purchase rate period. This introductory period typically ranges from 3 to 14 months. When you're comparing credit cards, consider how much you're going to spend and whether or not you’ll be able to pay it off before the standard purchase rate applies. If you can't pay it off before the end of the introductory 0% interest period, you might want to apply for a card with a longer introductory period or be prepared to pay some interest when the offer ends.
- Annual fee. Ideally, the value you get from your credit card should outweigh this cost. As well as considering the potential savings you’ll get during the introductory 0% p.a. interest period, make sure you weigh up the value of other, ongoing perks on the card – such as complimentary insurance or rewards. Alternatively, you could compare credit cards that have no annual fee.
- Standard purchase interest rate. This varies between cards but is typically between 13% p.a. and 22% p.a. If you don't think you can repay the entire balance before the 0% purchase rate period ends, think about whether the ongoing purchase rate will be affordable. You could also look for a card that offers a low ongoing purchase rate or consider transferring the debt to a card with a 0% balance transfer offer so you can continue paying off your debt without interest over a promotional period.
- Foreign transaction fees. While the introductory 0% p.a. rate will apply to purchases you make overseas, you may still be charged a fee worth approximately 2-3% (or more) for transactions made overseas or online with an international business. You can compare credit cards which do not charge currency conversion fees in our detailed guide.
- Extra benefits. Does the card come with complimentary travel insurance? Do you want to earn rewards points on your purchases? Will your purchases be covered by purchase protection and extended warranty? Can you access a 24/7 concierge service? If you want more than just the 0% offer, comparing these features can help you choose a credit card that works for you.
5 common mistakes to avoid with 0% purchase credit cards
If you want to get the most out of a credit card's 0% p.a. introductory period, watch out for these traps:
- Ignoring the standard purchase rate. At the end of the promotional period, the 0% purchase rate will revert to the standard variable purchase rate. This rate usually sits between 13% p.a. and 22% p.a. Check the standard purchase interest rate before applying for a credit card so you're aware of the potential costs if you don't pay off your purchases during the introductory period.
- Forgetting to make repayments. Even with an introductory 0% p.a. interest rate on your credit card, you still need to pay at least the minimum amount listed on each statement. This is usually 2% or 3% of the total balance or a dollar amount, such as $20 to $30. If you don't pay the minimum by the due date on your statement, you could be charged a late payment fee.
- Only making the minimum repayment. If you only pay the minimum amount each month, you won't repay the entire balance before the 0% interest offer finishes. Any balance remaining after that will be charged interest at the card's standard rate, making it harder to pay off the debt. To avoid this situation, aim to pay off all your purchases before the introductory period ends. If you're unable to repay your balance before the 0% purchase offer ends, a balance transfer might be the next step.
- Ineligible transactions. This type of 0% credit card interest rate offer only applies to eligible purchases. So if you use your card for balance transfers, cash advances, government payments or other cash-equivalent transactions, the card's standard interest rate will apply to these charges (unless a separate promotional offer applies).
- Not taking advantage of the entire offer period. The 0% purchase rate offer is available as soon as your credit card is approved, not from when you make your first purchase. So if you get a credit card with 0% p.a. on purchases for six months but you don't make a purchase or any repayments for the first month, you'll only have five more months of the interest-free period. If you have a big purchase in mind, make it as soon as possible and start making repayments immediately to get the maximum value while the offer lasts.
Credit cards that offer an introductory 0% p.a. on purchases can be a great way to save money on purchases, but only for a limited time. When comparing these cards, pay attention to the length of the promotional period, what interest rate applies at the end of the introductory offer and any other card features and fees so that you can find one that suits your needs.
FAQs about 0% purchase credit card offers
If you want to know more about 0% purchase credit cards, here you'll find answers to some of the most common questions. You can also get in touch using the comment box below to leave your own question about 0% purchase credit cards.
Images: Shutterstock
Our card uses the cash advance facility from time to time.
If swapping for a nil interest credit card what will happen with those current cash advances on any new credit card?
Hi Ray,
Thanks for your question.
Typically, banks do not offer promotions for cash advance interest on credit cards. So even if the card has zero interest on purchases, the card will still charge interest and fees on cash on advances each time you use that feature.
Cheers,
May
Can you please advise which card/s are currently offering a 0% balance transfer, and have the best points system
Hi Eve,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle
Hello.
Could you please tell me if sports club/golf membership fees are eligible for the 0% purchase fee CC purchases ?
Hi David,
Thank you for your inquiry.
Basically, the eligible purchases are everyday purchases which involve the exchange of a good or service for a payment, which excludes business expenses, gambling transactions, balance transfers and cash advances. So it’s best to contact your bank or credit issuer directly to confirm if they would consider your payments for a club membership as eligible purchases.
Cheers,
May
Hi,
Regarding 0% purchase credit card, will the annual credit card fee receive 0% interest free?
Regards
Hi Joe,
Thank you for your inquiry.
I’m afraid no. The annual fee is basically fixed for the entire lifespan of the card and it’s not considered as a purchase, so the 0% interest does not apply to it.
Cheers,
May
Hi,
In this age of cloud and automation, which bank card in the best deal and has the CSV format that is compatible to link up in accounting software.
Warm regards
Hi Barry,
Thanks for your question.
Most Australian Banks with online banking facility can be linked to common accounting software. If you already have an accounting software, you can normally check which bank are supported when you try to ‘add a bank account.’ If you’ll let me know what accounting software you are using, I may be able to give you the exact procedure to do it.
Cheers,
Anndy
Hi,
I would like to purchase some furniture and utilise the 0% interest on purchases currently on offer. I can then put the money otherwise spent on my mortgage offset account and save on interest, for example.
If I want to maximise the limit on a new 0% purchase credit card, would it help if I lowered the limit on my current card first?
Thanks.
Hi Ken,
Thanks for your inquiry.
If you’re interested in applying for a credit card that offers 0% interest on purchases, you may do so. But please make sure to read the eligibility criteria and requirements before applying. Once you’ve found a card you’re eligible for and you wish to apply for, you can click “Go to Site” green button to head over to the credit card company’s website.
In the meantime, keep in mind though that your approved credit limit will be determined by the card issuer. Depending on their assessment on your ability to repay, income and credit score, they may approve you for a lower or higher credit limit.
I hope this has helped.
Cheers,
May
Hi May, thanks for your response.
What I’m trying to ask is, all else equal, will lowering the credit limit on my existing card immediately prior to applying for a new card (the 0% interest on purchases card) help me get a higher credit limit on the new card?
I want to effectively transfer as much of my credit limit to the new 0% on purchases card without cancelling my current card.
Thanking you
Hi Ken,
Thanks for getting back.
Unfortunately, transferring of credit limit between credit cards is not possible. As I mentioned in my previous reply, only the credit card issuer has the ability to give you a higher or lower credit limit – that is depending on certain criteria you met and not because you have a lower limit of your existing credit card. Please feel free to read our article on how you can increase your credit limit.
I hope this has helped.
Cheers,
May
I am confused by the 0% interest free period and the 44 days interest free.
Sorry for probably stupid question.
Hi Steph,
Thanks for your question!
The 0% interest free period refers to a promotional period. So if you had a 0% on purchases for 6 months, your purchases wouldn’t collect interest for the first 6 months after that card is approved. After the promotional period, the standard interest rate will kick in.
The 44 interest-free days, on the other hand, is a permanent feature of the card that can only be taken advantage of if you pay your balance in full by the end of the statement period. If you’re able to do this, then your future purchases won’t collect interest for up to 44 days.
I hope this has helped and don’t hesitate to respond if you have any more questions.
Cheers,
Sally
Are there any cards available for personal use for a self-employed person? Do not want to use the card for business.
Hi Christine,
Thanks for your question.
If you’re self-employed and want to apply for a credit card for personal use, you’ll just need to ensure that you meet the eligibility requirements (including annual income, credit history etc) and provide evidence of your self-employment (such as your accountant’s details).
I hope this has helped.
Cheers,
Sally
What if any restrictions are there to stop me from transferring my CC balance to another interest free card before the interest free period expires?
Hi Woody, thanks for your inquiry!
There are no restrictions for transferring your balance to another interest-free credit card before your current interest-free promotion expires. Generally it is recommended not to apply for more than 1 credit card within a 3 month time frame, otherwise you may like to read more about key considerations when completing a balance transfer.
Cheers,
Jonathan
Hi, I have a question about 0% purchase credit card. Let’s my credit card allows 0% on purchases for 12 months – Now I understand that if I make a $1000 purchase then I have 12 months to pay it off without paying any interest. But what happens if I use it as my daily transaction card ? So if I were to make additional purchases after the first $1000 transaction, how is the interest calculated for the second/third/subsequent transactions ? Are those subsequent transactions interest free for 12 months from their respective purchase dates or does it use the very first transaction date ? Would I end up paying any interest if I were to setup a direct debit on minimum monthly payments on multiple purchases over a span of several months ? Sorry for asking so many questions, I just want to get the concept right. Everyone talks about making one purchase and paying it over X months before the grace period ends, but no one explains how it works when multiple transactions/purchases are made.
Hi PD,
Thank you for your inquiries.
If you use your card for additional purchases or for daily transactions, you won’t pay any interest during the term of the introductory offer. The 0% rate applies on purchases made within 12 months your card got approved.
Let’s say the offer is valid from April to September, and you applied and got approved this month, any purchases made from the date you got approved up to the twelfth month won’t incur any interest. As long as you meet the minimum monthly payment and can pay the balance in full before the twelfth month, you won’t be charged the interest rate, otherwise you’ll incur the standard purchase rate for any outstanding balance.
To get a clear explanation of how introductory offer works, please refer to this page.
I hope this helps.
Cheers,
Sally