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No Interest Credit Cards

How to avoid interest and save on credit card costs.

It may sound too good to be true, but some credit cards come with no interest when you transfer balances or make a purchase. The 0% interest offer is typically a part of a promotion that will last for a limited time, after which it will revert to a higher rate. As there are many interest-free credit card promotions on the market, you can use this guide to compare the different types of no interest products to find the right one for you.

St.George Vertigo Visa

St.George Credit Card Offer

Enjoy 0% p.a introductory rates on balance transfers and purchases combined with a competitive annual fee.

  • $0 p.a. annual fee for the first year ($55 p.a. thereafter) annual fee
  • 13.24% p.a. on purchases
  • 0% p.a. for 14 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free

Compare 0% balance transfer & purchase credit cards

Rates last updated June 25th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Platinum Credit Card - Exclusive Offer
Receive platinum perks including complimentary travel and purchase insurance.
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) Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Earn Velocity Points on your everyday spend and enjoy 0% p.a. introductory offers on purchases and balance transfers.
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info
Westpac Low Rate Card
Take advantage of up to 55 interest-free days and a low standard purchase rate.
0% p.a. for 6 months (reverts to 13.49% p.a.) 0% p.a. for 12 months $59 p.a. Go to site More info
Westpac 55 Day Platinum Credit Card
Receive complimentary insurances, access to platinum concierge service and up to 55 days interest-free.
0% p.a. for 6 months (reverts to 19.84% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info

What types of no interest credit cards are available?

There are many types of no interest credit cards on the market to suit different types of cardholders. From credit cards with 0% on purchases and balance transfers to cards with low cash advance rates, you can compare the different interest-free options below:

0% purchase rate cards

If you have a big-ticket purchase coming up (such as new furniture) or you know that your spending is due to increase (for example, for Christmas or a birthday), a 0% purchase credit card could help you repay your purchases faster without additional interest costs. 0% purchase rates are usually only in place for a promotional period (which can vary from 3 to 18 months) and will revert to a higher interest rate thereafter. Therefore, you should do your best to repay the entire balance before the introductory offer ends to minimise your total costs.

Compare credit cards with 0% interest rates on purchases

Rates last updated June 25th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Platinum Credit Card - Exclusive Offer
Includes complimentary overseas medical and travel insurance and the ability to use Apple Pay and Android Pay.
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) Go to site More info
Westpac 55 Day Platinum Credit Card
Receive complimentary overseas travel insurance and transit accident insurance, plus a 24/7 personal concierge service.
0% p.a. for 6 months (reverts to 19.84% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info
Westpac Low Rate Card
Get an additional cardholder at no extra cost and take advantage of Visa PayWave and Samsung Pay.
0% p.a. for 6 months (reverts to 13.49% p.a.) 0% p.a. for 12 months $59 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Earn 0.66 Velocity Rewards points per $1 on purchases and receive a $129 Virgin Australia Gift Voucher each year.
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info

0% balance transfer cards

If you have an existing debt, you could use a no interest balance transfer credit card to repay your balance without collecting interest. Not only will this cut down your interest costs, but it could also help you repay your debt faster. The length of the 0% offer will vary between cards, but some products offer interest-free balance transfers for up to 24 months. As the 0% will revert to a higher purchase or cash advance rate at the end of the introductory period, you should do your best to pay down your entire debt before the standard rate applies.

Rates last updated June 25th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
12.74% p.a. 0% p.a. for 20 months $99 p.a. Go to site More info
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Citi Rewards Platinum Credit Card
A long-term balance transfer offer with a range of platinum rewards and benefits.
20.99% p.a. 0% p.a. for 24 months with 1.5% balance transfer fee $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
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) Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
Bankwest Breeze Mastercard
Receive up to 55 day interest-free on purchases and free worldwide emergency card replacement.
12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $59 p.a. Go to site More info
BankSA Vertigo Visa
Get up to 55 days interest-free on purchases and be protected by 24/7 Falcon® Fraud service.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
NAB Low Fee Card
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. Go to site More info
HSBC Low Rate Credit Card
A competitive offer from HSBC featuring a long term balance transfer deal and low ongoing interest rate on purchases.
13.25% p.a. 0% p.a. for 15 months with 2% balance transfer fee $55 p.a. Go to site More info

Low cash advance rate cards

Currently, no credit cards in Australia offer credit cards with 0% interest on cash advances. These transactions usually collect the highest interest rate on the card (between 20% and 22%), but there are some credit cards that offer a lower ongoing cash advance rate. These cards are suited to cardholders who regularly use their credit card to withdraw cash from an ATM or make other cash-equivalent transactions.

Comparison of cash advance credit cards

Rates last updated June 25th, 2017.

ME frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

Bank Australia No Annual Fee Visa Credit Card

Updated product name from Bank Australia Visa Creditto Bank Australia No Annual Fee Visa Credit Card

January 13th, 2017

View latest updates

Jonathan Choi Jonathan
Cash advance rate (p.a.) Purchase rate (p.a.) Interest Free Period Annual fee
Bendigo Bank Basic Black Credit Card
A black card stripped of all unnecessary features to keep rates low.
12.24% p.a. 12.24% p.a. Up to 44 days on purchases $45 p.a. Go to site More info
Bank Australia No Annual Fee Visa Credit Card
A basic no fee card compatible with Apple Pay and Android Pay.
12.39% p.a. 12.39% p.a. Up to 55 days on purchases $0 p.a. More info
ME frank Credit Card
A low rate, low fee card with Mastercard PayPass.
11.99% p.a. 11.99% p.a. Up to 55 days on purchases $0 p.a. More info
Newcastle Permanent Value+ Credit Card
A low fee credit card with the protection of Visa's Zero Liability policy.
11.49% p.a. 11.49% p.a. Up to 55 days on purchases $49 p.a. More info
bcu Classic Credit Card
A low fee classic card with a low minimum credit limit.
14.80% p.a. 11.80% p.a. Up to 55 days on purchases $45 p.a. More info

Interest-free days offers

Although this isn’t a type of card, it is a feature offered on a number of cards that allows you to make purchases without paying interest on them for up to a specific number of days. This offer is usually only available to cardholders who make their monthly payments in full. The number of interest-free days will vary from card to card, but they're usually between 44 and 55 days. You can compare credit cards that offer interest-free days here.

Comparison of credit cards with up to 55 interest-free days

Rates last updated June 25th, 2017
Interest Free Period Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential®  Credit Card
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
Up to 55 days on purchases 14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points when you meet the spend requirement and earn up to 1 Qantas Point per $1 spent.
Up to 55 days on purchases 19.99% p.a. $199 p.a. Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Up to 55 days on purchases 19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
Up to 55 days on purchases 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) Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months.
Up to 55 days on purchases 19.99% p.a. $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
Bankwest Zero Platinum Mastercard
Receive complimentary international travel insurance, access to a 24/7 concierge service and $0 foreign transaction fees.
Up to 55 days on purchases 17.99% p.a. 2.99% p.a. for 9 months $0 p.a. Go to site More info
Citi Clear Platinum
Save with 14.99% p.a. on retail purchases. Also enjoy free wine when you dine with the Citibank Dining Program.
Up to 55 days on purchases 14.99% p.a. $99 p.a. Go to site More info
ANZ Low Rate
Receive up to 55 days interest-free on purchases, up to 3 additional cardholders at no cost and Mastercard PayPass.
Up to 55 days on purchases 12.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. Go to site More info
ANZ Frequent Flyer Black
Receive 75,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases in the first 3 months.
Up to 55 days on purchases 19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
Bankwest Breeze Mastercard
Receive up to 55 day interest-free on purchases and free worldwide emergency card replacement.
Up to 55 days on purchases 12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $59 p.a. Go to site More info
ANZ Rewards Travel Adventures card
Receive a complimentary return domestic flight when you spend $500 on eligible purchases in the first three months.
Up to 55 days on purchases 20.24% p.a. $225 p.a. Go to site More info
American Express Explorer® Credit Card
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $395 p.a. Go to site More info
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
Up to 55 days on purchases 11.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $99 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Receive up to 55 days interest-free on purchases and the protection of Verified by Visa online purchases.
Up to 55 days on purchases 13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
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How can I compare no interest credit cards?

If you’re unsure which card is for you, considering some of the below factors could help you determine which card is of most value to you:

  • Length of promotional offer. If you're applying for a card with 0% on purchases or balance transfers, make sure you check the length of the promotional offer. This will help you determine how much you'll need to repay each month to clear the entire balance before the higher revert rate applies. If you have a large debt, you might want to opt for a card with a longer introductory offer.
  • Revert rate. As the 0% interest rate will revert to a higher rate at the end of the promotional period, it’s important to compare these to ensure that the amount you’ll be paying won’t counteract any savings you would’ve made during the introductory period.
  • Annual fee. These cards often come with annual fees. You should make sure that the interest savings you receive outweigh this cost to get value out of the card.
  • Rewards program. Some of these cards come with rewards programs, allowing you to earn points for every $1 spent. You should pay attention to the earn rates and how you can redeem the rewards to determine whether it will be of value to you. If you're using a card for a 0% balance transfer offer, rewards may be less valuable as you shouldn't be using the card to make regular purchases while you're concentrating on repaying your debt.
  • Complimentary insurance. Complimentary insurances for travel or purchases are another bonus that could help add extra value to your card.
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What are the pros and cons of no interest credit cards?

Pros

  • Save money. The most obvious perk of a no interest credit card is that you can save on interest costs while the promotion is in place.
  • Consolidate your debt. If you use a 0% balance transfer credit card, you could repay your debt faster and save hundreds or thousands on interest.
  • Make larger purchases. If your card has no interest on purchases, this can give you the flexibility to make larger purchases with more time to pay it off without collecting interest.

Cons

  • Revert rate. At the end of the introductory period, the no interest offer will return to a higher rate.
  • Repaying multiple balances. If you’re carrying multiple types of balances, the interest-free offer may not apply to the balance you want. For example, 0% on interest may apply to purchases but might not apply to cash advances.
  • Temptation to spend. For some shoppers, the no interest on purchases may be used as an excuse to overspend. Remember that you have to repay everything you charge and that a higher interest rate will apply once the promotion ends.
  • High annual fees. You might find that you are paying higher annual fees to make up for the 0% interest benefit on the credit card. Make sure that these costs don't outweigh your interest savings to get full value from the card.
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How to apply for a no interest credit card

What is the eligibility criteria?

The eligibility requirements will vary from card to card, but here are some of the conditions you can expect during the application process.

  • Age. You'll need to be 18 years old or older to apply.
  • Residential status. Most Australian credit cards require cardholders to be permanent Australian residents or citizens. You can compare credit cards that accept temporary residents here.
  • Annual income. You may need to meet a minimum income requirement to apply.

What documents will I need to provide?

You’ll also be required to provide certain information during your application, so make sure to have the following handy:

  • Verifying your identity. To confirm your identity, the bank may ask for you to provide evidence such as your driver’s licence, passport or Medicare card.
  • Employment verification. You be asked to provide evidence of your income, including pay slips, tax documents and your employer’s contact details.
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Frequently asked questions

Yes, you will still receive statements and be required to make minimum monthly payments. In some cases, the no interest offer may be rendered void if you miss a payment.

If you want to minimise your interest costs, it's wise to pay more than the minimum repayment each month to clear out the majority (if not all) of the balance before the revert rate applies.

Any leftover unpaid balance will be charged at the revert rate described in the Product Disclosure Statement. This is usually either the standard purchase rate or cash advance rate. To avoid any nasty surprises, make sure to read over these before applying.

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4 Responses to No Interest Credit Cards

  1. Default Gravatar
    Ada | May 30, 2017

    Hi I’m just wondering is there a card you can use that has absolutely no interest until 6 months or 1 year. No fees and interest ?
    Thanks

    • Staff
      Jonathan | May 30, 2017

      Hi Ada!

      Thanks for the comment.

      What you are looking for is the 0% Balance Transfer and 0% Purchase Rate Cards. These cards help you get a break from regular interest charges of a balance from an old card plus new purchases made on the new card. Take note this is only for few months depending on your chosen brand/issuer.

      You may go to this link to help you get a selection of these cards. Once chosen, click “Go to Site” green button for application.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    tracey | October 22, 2014

    I want to combine my two credit cards what be the best way or option

    • Staff
      Elizabeth | October 23, 2014

      Hi Tracey,

      Thanks for your question.

      You can consider a balance transfer credit card. These cards allow you to bring over the balance from one or more existing cards to the balance transfer card. You’ll pay a lower rate, usually 0% p.a., for a set amount of time on the balance you bring over. You can compare these cards on this page.

      I hope this has helped.

      Thanks,

      Elizabeth

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