15 Month Interest Free Credit Cards

Want to buy now and pay next year? A 15-month interest-free credit card allows you to do just that

Finding a credit card offering 15 months interest-free on purchases is still a rare feat in Australia. After all, if you use it correctly, the bank can stand to make very little money off of you. If you understand and comply by the terms, these credit cards will give you the opportunity get what you need now, and to pay it down over a long period of time without the burden of interest.

Virgin Money Credit Card Offer

Virgin Australia Velocity Flyer Card - 0% Interest Offer

0% p.a. for 14 months
on purchases

Offer ends 2 September 2018

Eligibility criteria, terms and conditions, fees and charges apply

Virgin Money Credit Card Offer

Enjoy a 0% introductory rate on purchases and balance transfers, plus, earn Velocity Points on your everyday purchases.

  • $129 p.a. annual fee.
  • 20.74% p.a. on purchases
  • Cash advance rate of 20.99% p.a.
  • Up to 44 days interest free
  • Minimum income requirement of $35,000 p.a.
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Compare Current 0% Purchase Credit Card Offers

Rates last updated July 20th, 2018
Name Product Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period Amount Saved
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$129 p.a.
Up to 44 days on purchases
NAB Low Rate Platinum Card
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
0% p.a. for 9 months (reverts to 13.99% p.a.)
0% p.a. for 6 months with 2% balance transfer fee
$100 p.a.
Up to 55 days on purchases
NAB Low Rate Credit Card
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.
0% p.a. for 6 months (reverts to 13.99% p.a.)
0% p.a. for 6 months with 2% balance transfer fee
$59 p.a.
Up to 55 days on purchases

Compare up to 4 providers

How do 15 month interest free credit cards work?

New customers who apply for a credit card offering an interest-free period will get all the features that you find with any card, with the bonus of a long term, no interest purchase rate offer.
Upon approval, you will have the benefit of not being charged any interest on eligible purchases you make for 15 months. Since you are not accumulating debt in interest, ideally, you should find it easier to pay it down than a standard credit card. All interest-free offers come with terms and conditions attached, so make sure to consider these before applying.

At the end of the introductory interest-free period, any balance remaining on your account will start to accrue interest at the revert rate, usually the standard variable purchase rate. So make sure to budget for your repayments to make the most of the interest-free offer.

How can I compare interest free credit cards?

Not only should you be looking at the specific terms of an interest-free offer, you need to consider the other features of the credit card in order to determine its benefit to you. Look at the following points carefully, and compare them between different cards before making a final choice:

  • Length of low rate offer. Not all purchase rate offers are at 15 months. Ensure that the interest-free period you are given is sufficient for your planned purchases.
  • Revert rate. Check to see what the interest rate reverts to once the 15 month period ends. With some cards it will be the purchase rate.
  • Annual fee. Annual fees vary greatly between different credit cards and should be one of your comparison points.
  • Minimum repayment amount. While you have 15 months before you're charged any interest on your purchases, you still have to make your credit card's monthly minimum repayment.
  • Rewards or other features. If you're opting for a credit card that also offers rewards, make sure that you'll get value from them, and that it won't tempt you to overspend.

What are the drawbacks of taking up an interest-free credit card promotion?

Annual fees, high revert interest rates and the length of the introductory offer are all features of a 15 month interest-free credit card that can hurt you if you don’t carefully choose the one with suitable terms for you. However, the primary drawback to a long-term 0% purchase interest promotion is the risk that your debt will not be repaid by the end of the interest-free period.

A 15 month interest free credit card definitely has its advantages, but only if you use it right. Compare your various options carefully against your spending habits to make sure that this is the right product for you.

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How can I apply for an interest free credit card offer?

How you apply will depend on the bank and credit card you have chosen after doing your research. Still, there are some standards that most banks follow during the application process regarding eligibility:

  • Age. You must be 18 years of age to apply for a credit card in Australia.
  • Residential status. Whether or not the offer is available to Australian residents only will be of special concern to those who are living in Australia with a temporary work or student visa.
  • Credit score. Banks will not offer credit cards to individuals who have a poor credit score.
  • Income. Most credit cards will have a minimum income requirement in order to qualify.

You will also need to have the following details during the application process:

  • Contact information. The bank will need to be able to reach you with any additional questions either by phone or via email.
  • Residential information. A physical address within Australia will be required.
  • Income information. Proof of how much money you make can be shown with your current pay slips or tax documents.

Frequently asked questions

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22 Responses

  1. Default Gravatar
    IvanMarch 10, 2015

    I have a personal credit card with you atm can i do a transfer pay out with this at 0% transfer

    • finder Customer Care
      JonathanMarch 10, 2015Staff

      Hi Ivan, thanks for your inquiry!

      Please note that finder.co.au is a comparison service and is not directly affiliated with a lender. As long as the destination bank/lender is not affiliated with the originating bank/lender and you meet their application requirements a balance transfer will be supported. Please see this page for considerations when completing a balance transfer.



  2. Default Gravatar
    ivyDecember 22, 2014

    I salary package my personal loan but nowhere on the form is there somewhere where u can put this, where can it be stated about this on a credit card application? My reasoning is that it actually does not affect my amount of monies I have to pay off other debts as it is part of my tax deductions.

    • finder Customer Care
      ElizabethDecember 23, 2014Staff

      Hi Ivy,

      Thanks for your question.

      Card issuers sometimes only consider your after-tax income as this is the amount that goes towards your finances. You might be able to get in touch with the bank/card issuer directly and inform them of your financial situation, as each one will have different requirements for approval.

      I hope this has helped.



  3. Default Gravatar
    LuckyAugust 30, 2014

    If I transfer my balance over to a 0% card does the lender expect me to make equal monthly payments ? Or can I make what I want each month

    • finder Customer Care
      ShirleySeptember 1, 2014Staff

      Hi Lucky,

      Thanks for your question.

      You are required to make the minimum monthly repayments. Anything on top of that amount is up to you.


  4. Default Gravatar
    pamFebruary 24, 2014

    Hi. I. currently have a $13,000 credit card debt, I have to pay $300 a month in interest alone, I can afford to pay off $600. I’m trying to get a balance transfer but three banks have turned me down. Why?

  5. Default Gravatar
    KristyAugust 18, 2013

    Hi, I am looking to transfer from ANZ to another bank to save on paying interest. I currently have $ 6000 to transfer but probably will not be able to pay it all off even if I take a 12 or 15 month transfer. What is your advice for this situation – I don’t want to be caught out having to pay more in the long run. Thanks

    • finder Customer Care
      JacobAugust 19, 2013Staff

      Hi Kristy.

      Please have a look at this page for some key considerations about balance transfers.

      Ideally, you want to go for the balance transfer promotional terms that’s going to allow you to repay the balance while it’s charged at the promotional rate of interest. After the promotional period, the balance transfer balance will be charged at the cash advance and the purchase rate of interest, you can find out more about this through the above link.

      At the end of the promotional period, you can also transfer the balance to another card again. You can do this as many time as you’re approved for a new credit card and as long as you’re not transferring the balance between two cards offered by the same or related institutions.

      Thanks for your question.


  6. Default Gravatar
    JoeJune 27, 2013

    Hi Jacob!
    Your advice on our situation would be appreciated. We have $15K sitting on a Westpac card @ 19%+ . We have two ANZ cards with zero balance on them – one is $15K and the other $11.5K
    What do you see as our best move at this point?

    • finder Customer Care
      JacobJune 28, 2013Staff

      Hi Joe. Thanks for your question. There’s a couple of things you can do. As an existing ANZ customer, you can check with ANZ to see if there is a balance transfer promotion running on one of your existing cards, and if there is, you can transfer from your Westpac cards to your ANZ card as an existing ANZ customer (assuming that you meant the $15K and $11.5K were your credit limits on your ANZ cards). You can even transfer $10,000 to one card and $5,000 to another card. Your other option is to open a new card and transfer everything to that. Your approved credit limit on your new card has to be more than the amount you want to transfer to make this work. Either option is better than continuing to pay close to twenty percent interest on a credit card balance. Let me know if you have any more questions. I hope this has helped. Jacob.

  7. Default Gravatar
    JackApril 17, 2013

    Can and balance on an existing ANZ card be transferred to a long term card.

    • finder Customer Care
      JacobApril 17, 2013Staff

      Hi Jack. Thanks for your question. Yes, you are able to transfer a balance between ANZ credit cards; however, you won’t be eligible for the promotional rate of interest you see advertised – this is for new customers only. To find out more information about balance transfers to existing ANZ credit cards, please contact them directly – they make these offers available to customers from time to time; however, they’re not advertised to the public. Jacob.

  8. Default Gravatar
    tomApril 15, 2013

    hi there i have a personal loan with the NAB. of $5000, i want to get the ANZ 2.5 % 15 month credit card how would i go about this?

    • finder Customer Care
      JacobApril 15, 2013Staff

      Hi Tom. Thanks for your question. Citibank allow you to do this. You can transfer the balance of a personal loan to a Citibank line-of-credit and credit card. Jacob.

  9. Default Gravatar
    nealMarch 31, 2013

    i am currently on the age pension is this suitable for me credit card $16000

    • finder Customer Care
      JacobApril 2, 2013Staff

      Hi Neal. Thanks for your question. If you’re on an aged pension, please apply through a branch. The online application process does not cater for people who can’t put down their employers details and is likely to result in a failed application. Jacob.

  10. Default Gravatar
    ElizabethMarch 15, 2013

    Hi! If you can help me, this would be great . I have needed to do this for some time, but am confused with all the deals/offers etc.
    I have 2 cards pretty much maxed with a total debt of around $10,000 and looking to pay this off once and for all. Am I better taking a zero interest shorter term card, or a longer, say 12-15 mths with a 3-5 % interest rate.
    How much monthly would I need to pay to achieve my goal in each case?

    • finder Customer Care
      JacobMarch 15, 2013Staff

      Hi Elizabeth. You’re the only one who’s in a position to make that call. It all comes down to how much you earn and how much you think you can put towards the card each month – this will dictate the balance transfer offer that’s right for you. I went thought something similar recently. I had a $5,000 credit card debt that I transferred to the ANZ Low Rate Card @ 0% for 9 months. I made a little video about my experiences with the balance transfer process, which I think you should watch – it explains some of the points of the balance transfer process and may be helpful if this if your first time. It’s extremely difficult commenting on how much you will have to pay each month – you will have to find a card first. If you have questions about the balance transfer process, Fred Schebesta, one of the directors at https://www.finder.com.au made a short video explaining the process. Let us know how you go.

    • Default Gravatar
      DylanJune 17, 2013

      Hi Jacob,

      I am in a similar situation as Elizabeth in that I have a $10K in debt over 2 maxed out cards. 1 of which is with CBA who is my main bank and offered me the highest credit limit of $7k. My question is what are the chances of ANZ offering me the same or higher credit limit? I have only paid the minimum on both cards, no late fees, and held them both only for 6 months. I have done a credit check and appears to be good.


    • finder Customer Care
      JacobJune 17, 2013Staff

      Hi Dylan. Thanks for your question. Do you mean that you’re looking to apply for an ANZ credit card, and you want to transfer the balance (approx. $10K) to the new ANZ credit card if approved, and you want to know what your chances of being able to transfer the entire balance from the existing cards to the new ANZ card (ANZ let you transfer up to 95% of your approved credit limit)? When you open a new credit card account with a limit, you’re basically taking on more debt / opportunity to debt – this in turn reduces the ratio of assets / income to liabilities / expenses. The higher your debt / expenses the less credit you’ll get on your new card. Looking at my own situation. I was approved for a card in 2012 for $13,000. Later that year I applied for an ANZ credit card and the maximum they could give me was $9,000. Imagine if I applied for another credit card, my borrowing capacity would be reduced again, and I would only be eligible for a lower limit than the previous two. You may want to consider speaking to a lender directly. They won’t be able to tell you what you’ll limit you’ll get, but they may be able to provide a ball-park figure. Hope this makes sense to you and has answered your question. Please let me know if there’s anything else you would like to know. Jacob.

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