Interest-free credit card comparison

Save on costs and pay off your credit card faster with 0% interest on purchases or balance transfers.

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Cards with 0% interest on purchases and balance transfers can help you cut card costs and avoid collecting debt. The interest-free offer will only last for an introductory period and any unpaid balances will attract a higher revert rate. Most cards also offer interest-free days on purchases when you pay your balance in full, but there are some conditions involved.

You can use this guide to compare credit cards that don't charge interest, learn how they work and the factors you should consider before applying.

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

Citi Rewards Platinum Credit Card - Exclusive Offer

0% for 13 months on purchases & 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% 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 first year annual fee ($149 thereafter)
  • 0% interest for the first 13 months on purchases & balance transfers
  • 21.49% p.a. purchase interest rate | 22.24% p.a. cash advance rate
  • Complimentary travel and purchase insurance covers
  • Minimum credit limit of $6,000
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Promoted

Compare interest-free credit cards

Updated December 11th, 2019
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 21.49% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
St.George Vertigo Card - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Citi Clear Platinum Credit Card
0% p.a. for 9 months
0% for 9 months, reverts to 14.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 6 months
0% for 14 months, reverts to 20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent.
St.George Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features an introductory 0% p.a. purchase rate, $49 first year annual fee and complimentary travel insurance covers.
St.George Rainbow Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
All the platinum features of the Vertigo Platinum Visa with a rainbow design in support of the LGBT community.
Bank of Melbourne Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. purchase rate for 15 months, a reduced annual fee for the first year and complimentary travel insurance.
BankSA Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers an interest-free purchase promotion, a discounted annual fee of $49 for the first year and complimentary travel insurance.

Compare up to 4 providers

* The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Best* interest-free credit cards trending now

Compare the features of these interest-free credit cards to see if one is right for you.

How do interest-free credit cards work?

These cards charge no interest on purchases or balance transfers for an introductory period. The 0% interest period usually begins as soon as the card is approved and will last for a set number of months. If you're unable to repay balance by the end of the introductory period, any remaining debt will attract the relevant revert interest rate.

Interest-free deals are usually promotional, so you may need to apply by a specific offer end date to take advantage of the low interest rate. You're still required to make minimum repayments each month during the promotional period but it's wise to pay off as much as you can and pay off the account before interest applies.

What types of credit cards offer 0% interest?

There are two types of cards that offer 0% interest: cards with interest-free promotions for purchases or 0% on balance transfers. Read on to understand how these two card types work and how you could use one to reduce your interest costs.

0% purchase credit cards

These cards charge no interest to new purchases for a promotional period. Depending on the card, the interest-free period can range from 3 months to 15 months. Most credit cards charge purchase rates between 8.99% p.a. and around 21% p.a., so these interest-free offers could help you save and avoid collecting debt.

This type of card could be useful if you have some big purchases to make (such as buying furniture, booking a holiday or organising Christmas gifts) and you want more time to pay it off without being charged interest.

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

  • If you still carry a balance at the end of the introductory period.The 0% p.a. offer only applies for an introductory period and will revert to the standard purchase interest rate when the offer ends. For example, if the card comes with 0% p.a. for 6 months, the interest-free period will end 6 months after your card was activated and any remaining balance from purchases will collect interest.
  • When you use your card for a transaction that isn’t considered a “purchase”.While most everyday spending will be eligible for the interest-free offer, transactions such as cash advances or cash equivalent transactions will be charged interest at the cash advance rate from the time they are made.
  • If you don’t make minimum monthly payments. Even with 0% p.a. interest on your purchases, you'll have to pay at least the minimum amount required by the due date on each credit card statement.

0% balance transfer credit cards

If you have existing credit card debt, you can move it to a new card with 0% on balance transfers for a promotional period to pay it off with no interest. These interest-free offers can range from 6 months to 24 months.

You can also consolidate multiple debts onto one card and pay them off under one account with no interest with a balance transfer. These cards sometimes charge annual fees and a one-time balance transfer fee (of around 2% or 3%) will apply when you first move the debt.

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

  • If you make new purchases. When you make a purchase on this type of card, the interest rate for purchases will apply. Even if you pay off the purchase in full by the statement due date, you won't be eligible for interest-free days on purchases with most cards while you're paying off a balance transfer.
  • If you use your card for a cash advance or cash equivalent transaction. If you use your card for an ATM withdrawal, gambling or another cash advance transaction, you'll immediately attract the cash advance interest rate.
  • If you don't pay off your balance transfer debt by the end of the introductory period. If the introductory 0% period ends and you have an outstanding balance to pay, any remaining balance transfer debt will attract the revert rate. This is usually the cash advance interest rate.

0% purchase and balance transfer credit cards

If you have existing credit card debt, you can move it to a new card with 0% on balance transfers for a promotional period to pay it off with no interest. These interest-free offers can range from 6 months to 24 months.

If you have multiple credit card debts, you can consolidate them onto one card and pay them off under one account with no interest with a balance transfer. These cards sometimes charge annual fees and a one-time balance transfer fee (of around 2% or 3%) will apply when you first move the debt.

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.

Are there cards that charge no interest to both purchases and balance transfers?

Yes, there are some cards that offer 0% on both balance transfers and purchases. Depending on the card, the length of the interest-free offers may differ between purchases and balance transfers. You can learn more and compare these cards in our guide to credit cards with 0% on purchases and balance transfers.

What about credit cards with interest-free days?

Many credit cards offer a certain number of interest-free days for each statement period. For example, your card offer up to 44 or 55 interest-free days on purchases.

You can usually only take advantage of interest-free days when you pay your balance off in full by the due date listed on your card statement. How many interest-free days you'll access will depend on when the purchase was made in your statement cycle. You can see Finder's guide to interest-free days to learn more about how this feature works.

How to compare interest-free credit card offers in Australia

If you want to get a credit card with an interest-free period, consider the following features and details to 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 interest-free 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 days 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. While some cards charge $0 annual fees, others charge fees that 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.oose 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.

Whether you're making new purchases or paying off an existing debt, a card with an interest-free offer can help you save on interest and get your credit card under control. As there are many competitive 0% promotions in the market, it's important to compare your options to find the right type of card for your needs.


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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?

    • Avatarfinder Customer Care
      DeeNovember 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.

    • Avatarfinder Customer Care
      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

    • Avatarfinder Customer Care
      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

    • Avatarfinder Customer Care
      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

    • Avatarfinder Customer Care
      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.

    • Avatarfinder Customer Care
      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?

    • Avatarfinder Customer Care
      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.

Credit Cards Comparison

Updated December 11th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get 20,000 bonus Qantas Points per month for the first 6 months when you spend $1,500/month. Total of up to 120,000 bonus Qantas Points.
Citi Clear Platinum Credit Card
0% for 9 months, reverts to 14.99% p.a.
0% p.a. for 9 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards 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. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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