Interest-free credit card comparison

Save on costs with a credit card that offers 0% interest.

Interest-free credit cards give you a period of time when no interest is charged on your balance. Depending on the card you choose, you could get interest-free days for purchases each statement period, an introductory 0% interest rate for purchases or balance transfers made to a new card or 0% interest on overseas transactions.

Use this guide to compare interest-free credit cards available. We also explain other features to consider so that you can find an interest-free credit card that suits your needs.

ANZ Platinum Credit Card - Exclusive Offer

0% p.a. for 12 months on balance transfers
0% p.a. for 3 months on purchases

Eligibility criteria, terms and conditions, fees and charges apply

Exclusive to finder.com.au - ANZ Credit Card Offer

Exclusive to this site, pay no annual fee in the first year and take advantage of low introductory rates on purchases and balance transfers.

  • $0 p.a. annual fee for the first year ($87 p.a. thereafter).
  • 19.74% p.a. on purchases
  • Cash advance rate of 21.49% p.a.
  • Up to 55 days interest free
  • Minimum income requirement of $35,000 p.a.
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Compare interest-free credit cards

Rates last updated October 18th, 2017
$
Name Product Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period Amount Saved
ANZ Platinum Credit Card - Exclusive Offer
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Up to 55 days on purchases
Bankwest Breeze Classic Mastercard
Get the security of free worldwide emergency card replacement and the convenience of Mastercard PayPass.
0% p.a. for 13 months (reverts to 12.99% p.a.)
0% p.a. for 13 months with 2% balance transfer fee
$79 p.a.
Up to 55 days on purchases
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Until 31 October 2017 get 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
0% p.a. for 12 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$129 p.a.
Up to 44 days on purchases
Bankwest Breeze Platinum Mastercard
Receive complimentary international travel insurance, extended warranty cover and 0% foreign transaction fees.
0% p.a. for 13 months (reverts to 12.99% p.a.)
0% p.a. for 13 months with 2% balance transfer fee
$99 p.a.
Up to 55 days on purchases

Compare up to 4 providers

* The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer. The star ratings indicated on this page are from real finder.com.au users based on their feedback about the quality of this page. It is not representative of any product’s star ratings and should not be taken as a recommendation of any form of credit. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

0% purchase credit cards

girls comparing credit cardsThis type of credit card allows you to make new purchases without paying interest during a promotional or introductory period. This period varies but is usually the first 3 to 15 months from when you get the new card. After that, a higher standard variable purchase rate will apply to any remaining balance.

A 0% purchase credit card can be useful if you have a large expense coming up, such as a big-ticket household item, an overseas holiday or Christmas shopping. It's wise to spend with a budget in mind and do your best to repay the entire balance before the introductory period ends so you can avoid interest charges.

When will I be charged interest on a 0% purchase credit card?

  • The 0% offer only applies for a promotional period and will revert to the standard interest rate when the offer ends. So if the card comes with 0% for 6 months, the interest-free period will end 6 months after your card was activated and any remaining balances will begin to collect interest.
  • If you use your card for a transaction that isn’t considered a “purchase”, such as a cash advance or a cash equivalent transaction.
  • If you don’t maintain your credit card payments each statement period.

What types of credit cards offer 0% interest?

Credit cards can offer interest-free periods that are designed to suit a variety of different needs. Here, you can find information on a range of different 0% interest credit card options based on how you plan to use your card.


0% balance transfer credit cards

A 0% balance transfer card offers an interest-free period on existing credit card debt that you move onto the new card. The 0% interest rate can last anywhere from 3 to 24 months depending on the offer. This gives you the opportunity to repay your debt without collecting any additional interest, which can help you put more money towards paying off the balance faster.

With this type of 0% interest offer, the card’s standard interest rate will apply to any balance that's left at the end of the introductory period. This could be as high as 22% p.a., so it’s important to pay off as much of the debt as possible during the interest-free period.

When will I be charged interest on a 0% balance transfer credit card?

  • If you make a purchase on the card, the purchase rate of interest will apply from the time the transaction is made.
  • If you use your card for a cash advance or cash equivalent transaction, interest charges and fees will apply.
  • If the balance transfer interest-free period ends and you have an outstanding balance to pay, you'll start collecting interest on it.

Compare interest-free balance transfer credit cards

Rates last updated October 18th, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Rewards Platinum Credit Card
0% p.a. for 24 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn Citi Reward Points on everyday spend and receive complimentary travel insurance.
NAB Premium Card - Exclusive Offer
0% p.a. for 24 months
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Woolworths Everyday Platinum Credit Card
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee. Plus, use of the Westpac mobile banking app.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$99 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
St.George Vertigo Platinum
0% p.a. for 24 months with 2% balance transfer fee
12.74% p.a.
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
Bank of Melbourne Vertigo Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
13.24% p.a.
$55 p.a.
Receive up to 55 days interest-free on purchases and the protection of Verified by Visa online purchases.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
An exclusive credit card offer through finder.com.au that includes complimentary insurance covers and 0% purchase and balance transfer offers.

Compare up to 4 providers


0% purchase and balance transfer credit cards

This type of credit card offers an introductory 0% interest rate for both balance transfers and purchases. However, the promotional interest-free periods may be different lengths for balance transfers and purchases. For example, a card could offer 0% interest on balance transfers for up to 15 months but only 0% interest on purchases for the first 3 months.

When the introductory period ends, any remaining debt from purchases or balance transfers will attract interest at the standard variable rate for that card. This rate could also be different for purchases and balance transfers.

Compare credit cards with both 0% on balance transfers and purchases

Rates last updated October 18th, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
Bankwest Breeze Classic Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$79 p.a.
Receive up to 55 days interest-free on purchases and free worldwide emergency card replacement.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 6 months
0% p.a. for 12 months (reverts to 20.74% p.a.)
$129 p.a.
Save with 0% p.a. interest on purchases and balance transfers, plus, earn up to 0.66 Velocity Points per $1 spent.
Bankwest Breeze Platinum Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$99 p.a.
Receive complimentary international travel insurance, extended warranty cover and 0% foreign transaction fees.

Compare up to 4 providers


Credit cards with interest-free days

Many credit cards offer a certain number of interest-free days for each statement period. For instance, you may see “up to 55 days interest-free” included as a feature on your credit card.

This 0% interest period is only available if you pay your balance off completely by the due date on each of your statements. If you carry a balance or make a late payment, you lose access to this feature and interest is applied for that statement period. Usually, you will only be able to access interest-free days again after you have paid your balance in full for at least one statement cycle.

When will I be charged interest on this card?

  • If you don’t pay your balance back in full each statement period.
  • If you use your card for a transaction that’s considered a cash advance or an ineligible purchase, unless otherwise specified.
  • If you carry a balance from a balance transfer, some cards may not offer interest-free days on purchases.

Compare credit cards with 55 interest-free days

Rates last updated October 18th, 2017
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
St.George Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 24 months with 2% balance transfer fee
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
HSBC Platinum Credit Card
19.99% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 22 months with 2% balance transfer fee
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Citi Rewards Platinum Credit Card
20.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 24 months with 1.5% balance transfer fee
Earn Reward Points per $1 spent as part of the Citi Rewards Program, plus receive complimentary international travel insurance.
St.George Vertigo Visa
13.24% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
ME frank Credit Card
11.99% p.a.
Up to 55 days on purchases
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.
Bank of Melbourne Vertigo Visa Credit Card
13.24% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Receive up to 55 days interest-free on purchases and the protection of Verified by Visa online purchases.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
0% p.a. for 12 months
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
NAB Low Rate Credit Card
13.99% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Receive up to 55 days interest-free on purchases, special offers from Visa Entertainment and Tap and Pay capabilities.
American Express Velocity Platinum Card
20.74% p.a.
Up to 55 days on purchases
$375 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
ANZ Frequent Flyer Platinum
19.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months.

Compare up to 4 providers


0% foreign transaction fee credit cards

Most credit cards apply foreign transaction and currency conversion fees to purchases made overseas or online with an international merchant. The fees are usually between 2% and 3.5% of the total transaction cost and are in addition to any interest charges that may apply for the balance – even if you are using a credit card with 0% interest on purchases.

Credit cards with 0% foreign transaction fees allow you to use your credit card for international transactions without paying these fees. This type of card is suitable if you’re planning a trip overseas or if you want to use a credit card to shop online with international merchants.

When will I be charged interest on this card?

  • This card may charge 0% foreign transaction fees, but you may still have to pay the standard purchase rate for your transactions.
  • You will be charged interest if you use the card for other types of transactions such as cash advances.

Compare 0% foreign transaction fee credit cards

Rates last updated October 18th, 2017
Name Product Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Bankwest Zero Platinum Mastercard
0% of transaction value
$5
The greater of 2% or $4
$0 p.a.
Receive complimentary international travel insurance, access to a 24/7 concierge service and 0% foreign transaction fees.
ANZ Rewards Travel Adventures card
0% of transaction value
$0
$225 p.a.
Receive 40,000 bonus Velocity Points when you spend $500 on eligible purchases in the first three months.
28 Degrees Platinum Mastercard
0% of transaction value
$0
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
Designed for travel, benefit from no international transaction fees on purchases and no currency conversion fees.
Bankwest Qantas Platinum Mastercard
0% of transaction value
$5
2% or $4, whichever is greater
$160 p.a.
Enjoy a high credit limit with complimentary travel insurances and earn 0.5 Qantas Points per $1 spent on eligible purchases.
Westpac Lite Card
0% of transaction value
$0
$108 p.a.
Keep credit card costs low with a maximum credit limit of $4,000 and no foreign transaction fees.
Bankwest Breeze Platinum Mastercard
0% of transaction value
$5
Greater of 2% or $4.00
$99 p.a.
Offers an introductory balance transfer rate of 0% p.a. for 13 months with a 2% BT fee, plus platinum perks.
Bankwest More Platinum Mastercard
0% of transaction value
$5
2% or $4, whichever is greater
$160 p.a.
No fees on overseas ATM withdrawal, no foreign transaction fees and earn 75,000 bonus More rewards points.

Compare up to 4 providers


Charge cards

Similar to a credit card, a charge card gives you access to funds for a set amount of time and may include features such as rewards programs or complimentary insurance. But unlike credit cards, charge cards don’t apply an interest rate to the balance. Instead, you must pay off the total amount owing by each statement due date – and there are hefty fees and other penalties if you don’t.

While charge cards give you an interest-free way to make purchases on credit, they do not offer the same flexible repayment options as credit cards. They also have high income and credit rating requirements.

Compare business and corporate charge cards

Rates last updated October 18th, 2017
Name Product Rewards Program Annual fee Complimentary Travel Insurance Product Description
American Express Velocity Business Card
Velocity Rewards
$249 p.a.
Yes
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.
American Express Platinum Business Card
Membership Rewards Premium Ascent
$1,500 p.a.
Yes
Enjoy a platinum business concierge, complimentary Virgin Lounge access, worldwide travel insurance and luxury hotel benefits.
American Express Gold Business Card
Membership Rewards Ascent
$169 p.a.
Yes
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.
American Express Business Card
Membership Rewards Ascent
$109 p.a.
Yes
Consolidate your business expenses and extend your cashflow with up to 51 interest-free days on purchases.
American Express Qantas Business Rewards Card
Qantas Business Rewards
$450 p.a.
Yes
Earn up to 2 Qantas Points per $1 spent on eligible purchases and enjoy up to 51 days interest-free on purchases.

Compare up to 4 providers

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How to compare interest-free credit cards

If you want to get a credit card with an interest-free period, considering the following features and details can help you find one that's right for you:

  • Introductory period. If the card offers a promotional 0% interest rate for purchases or balance transfers, check how long the introductory period is available for so you can factor this into your repayments and budget. Consider your budget and calculate whether or not you can repay the balance you put on the card while the introductory offer is in place. If not, you might want to look for a card with a longer promotional period.
  • Standard interest rates. The standard variable purchase and balance transfer rates for credit cards can be as high as 22% p.a. Make sure you check what the promotional rate reverts to when comparing options so that you can budget for any interest charges that may apply if you're still carrying a balance at that time.
  • Interest-free day requirements. Credit cards that offer interest-free days for each statement cycle usually have specific conditions around eligible purchases and repayments. For example, cash advances are not eligible for interest-free days and you must pay your balance in full by the due date on each statement.
  • Rewards programs. Some cards earn rewards or frequent flyer points for every $1 spent on the card. These programs can provide extra value, particularly if you have an interest-free credit card for purchases. But be careful you don’t overspend in order to get more rewards, otherwise you may end up with unnecessary debt.
  • Complimentary extras. Many cards offer complimentary extras such as international travel insurance, purchase protection, extended warranty coverage and concierge services. These perks may add value to your card, but only if you think you will use them.
  • Annual fees. This cost can range from $20 to over $700 each year. Make sure that the cost of the annual fee doesn't offset the interest savings you'll make from the interest-free offer. You may even want to consider a credit card with no annual fee to help save on your costs.
  • Balance transfer fees. Some cards have a one-off processing fee of around 2% to 3% when you apply for a balance transfer. If you choose an interest-free card for your existing debt, make sure you look for this fee when comparing options so you can find one that’s affordable.

Interest-free credit cards can be a convenient and affordable way to access additional funds in a wide range of situations. But it’s important to compare your options to find the right type of card for your needs.


Pictures: Shutterstock

Answers to the most popular questions about interest-free credit cards from our users

Yes, regardless of the type of interest-free credit card you choose, you will still need to pay at least the minimum amount required by the due date on your statement.

Regardless of the type of interest-free credit card you choose, you still need to make repayments by the statement due date each month. If you fail to maintain these regular repayments, some of the repercussions you could face include:

  • Interest charges. If you don’t pay your balance in full by the statement due date, interest will be applied to the remaining debt.
  • Late payment fees. If you don’t make a payment by the statement due date, a late payment fee may be applied. This can be $10 to $30 on a standard credit card, or more on a charge card.
  • Overlimit fees. A fee of between $10 and $30 can apply if you don’t repay your credit card balance and go over your available credit limit.
  • Cancelled promotional interest rates. If you don’t pay the balance, the interest-free promotion may no longer apply. This penalty varies depending on the card, so make sure you check the terms of your offer.
  • Bad credit. Failing to make repayments could have a negative impact on your credit history – especially if your account goes into default.

If you’re struggling to make a repayment by the due date on your statement, it’s important to contact your credit card provider as soon as possible. Customer service staff will assess your situation and discuss repayment options based on your individual circumstances.

Interest-free cards provide 0% on purchases, 0% on balance transfers and 0% foreign transaction fees. Depending on your needs, your ideal credit card may feature one or more of these promotions and include other features and benefits. Compare your options and consider what you need and are eligible to apply for. It is important to consider the features and costs of the card to ensure that the benefits outweigh the costs.

The interest-free period varies from card to card. In general, it can range from 6 to 24 months if you have a card with a promotional 0% balance transfer offer, or up to 62 days if it’s an interest-free days credit card. Make sure you read the terms and conditions of the card to ensure that the interest-free period complements your spending habits and financial situation.

You can usually balance transfer to any bank and credit card, excluding banks you currently have a credit card with. See this guide for a complete list of banks that don’t allow balance transfers between each other.

Promotional interest-free periods begin when your credit card is approved. Interest-free days begin on the first day of your statement cycle.

Yes. Transferring your existing balance after a 0% purchase or 0% balance transfer promotion has ended is allowed. Note that any balance transfer request will be subject to lending criteria and approval from the issuer.

Yes, this is generally accepted across balance transfer credit cards. Once you have repaid your outstanding balance, you can cancel the credit card anytime.

Yes. As long as the promotional 0% interest rate applies, your overseas purchases will not attract any interest. However, any transactions that don't count as purchases – such as withdrawing cash from an ATM or buying foreign currency will be charged interest at the cash advance rate for your card.

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14 Responses

  1. Default Gravatar
    HayleyNovember 20, 2016

    Hi,

    I am needing an amount of $6800 and will be able to pay it back over a year. I will not be using the card for anything else but this one off overseas payment. What would be the best thing for me to do?

    • Staff
      AnndyNovember 21, 2016Staff

      Hi Hayley,

      Thanks for reaching out.

      If you are looking for a credit card for overseas payment, you may want to consider the cards listed here as they do not charge foreign currency conversion fee.

      You may also want to consider cards with 0% purchase interest rate listed here. These cards allow you to save on interest payments during the promotional period in case you don’t intend to pay your balance in full at the end of the billing period.

      Cheers,
      Anndy

  2. Default Gravatar
    davidFebruary 15, 2016

    if i pay out the balance in the interest free period can i then cancel the card with no fees.

    • Staff
      JonathanFebruary 15, 2016Staff

      Hi David, thanks for your inquiry!

      Yes this is generally accepted across balance transfer credit cards. Once you have repaid your outstanding balance you can cancel the credit card anytime.

      Cheers,

      Jonathan

  3. Default Gravatar
    sharonSeptember 8, 2015

    Good morning, I read with interest the balance transfer credit cards with no interest for a period of time. I, like many people have that problem of having not paid my CC on the due date and now have a big balance. I currently have an ANZ Platinum CC, can I apply for a balance transfer with no interest?

    Thank you

    • Staff
      JonathanSeptember 8, 2015Staff

      Hi Sharon, thanks for your inquiry!

      Balance transfers can be a great way to repay an outstanding credit balance interest free. You may like to compare balance transfer offers and cards on this page.

      Cheers,

      Jonathan

  4. Default Gravatar
    BillyJune 12, 2015

    Hi, I’m looking for a credit card to allow me to pay bills between payments from work. Would use it very little only when my funds are a bit tight. Any recommendations? Suggestions

    • Staff
      sally.mcmullen@hiveempire.comJune 12, 2015Staff

      Hi Billy,

      Thanks for your question.

      As an online comparison service, we can’t provide you with any specific recommendations. Instead, we provide our users with the comprehensive information they need to make comparisons and develop their own informed decisions.

      However, if you’re only planning on using your credit card sporadically, you may wish to consider a credit card with low interest or no annual fee or a low income credit card.

      Credit cards with high annual fees and rates usually come with extra features such as concierge services, complimentary insurance, and rewards programs. However, if you’re after a credit card to use as a backup for your finances, some of these no-frills options may be of interest.

      I hope this has helped.

      Thanks,

      Sally

  5. Default Gravatar
    SarahFebruary 8, 2015

    hello,
    im looking at having stomach surgery and I have most of the money but I am still needing about another $10,000 for this and I was wondering what credit card would be the best way for me to go as I would like to pay it off with in 12 months of having surgery.

    thank you so much

    • Staff
      JonathanFebruary 9, 2015Staff

      Hi Sarah,

      Depending on whether the surgery is billed as a purchase or cash advance (would be best to confirm with the medical company) this would determine whether a would be ideal. Please also refer to our page on comparing medical loans on this page.

      I hope this has helped.

      Cheers,

      Jonathan

  6. Default Gravatar
    AngelaJanuary 14, 2015

    I have an existing credit card that I am trying to pay off. I am finding it hard as the interest I get charged each month is almost the same amount as my monthly repayments, which means I am getting no where. I have talked to some friends that have mentioned I should transfer my debt to an interest free credit card that way I can pay it off within the time of the interest free offer. Will this be beneficial for me? Is there any hidden charges I should be looking for? I am confident I can pay this off within 6-12months, as long as I don’t get charged interest.

    • Staff
      ElizabethJanuary 14, 2015Staff

      Hi Angela,

      Thanks for your question.

      Your friends were likely referring to a balance transfer, which allows you to bring over an existing credit card balance to a new card and pay 0% p.a. interest on it for an extended amount of time. You can compare and apply for balance transfer credit cards on this page as well as learn more about them. A few things to be aware of with balance transfer credit cards:

      - Balance transfer rate: The rate you will be charged on the balance you bring over.
      - Annual fee: Will you be charged an annual fee to use this product?
      - Balance transfer revert rate: This is the rate you are charged after the balance transfer promotional period is over. Most of these cards revert to either the cash advance rate or purchase rate.
      - Balance transfer period: How long you will receive the promotional balance transfer rate for.
      - Balance transfer fee: Some cards may charge you a fee to bring over your credit card balance. This fee is often a percentage of the balance you bring over (eg. 3%)

      This information can all be found in our credit card review pages, which can be found by clicking on ‘more info’ from the comparison table on the page I linked above. After you’ve reviewed your options and found the best card for your needs and situation, you can click ‘Go to Site’ to apply.

      I hope this has helped.

      Thanks,

      Elizabeth

  7. Default Gravatar
    MichaelJuly 11, 2013

    If you pay my card right out what interest rate will you charge me?

    • Staff
      JacobJuly 11, 2013Staff

      Hi Michael. Thanks for your question, but I’m not sure I understand. Are you referring to the balance transfer rate of interest? You can find this information in the comparison tables and in the review pages for each card. Jacob.

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