A Christmas miracle: 0% purchase rate offers for the silly season

The festive season is a joyous, albeit pricey time of year and with less than two weeks till Santa climbs down your chimney, you might have realised you’re going to need a little extra financial muscle to get every gift under the tree in time for Christmas Day.

While whacking the costs of your holiday-season haul on your current credit card might seem like the obvious choice, according to Mozo data released in November, this could cost you far more than the ticket price come the New Year.

In fact, after crunching the numbers* we found that Aussies would accrue over $300 in credit card interest and fees on an average card, compared to just $71 if they were to opt for a piece of plastic that comes with a 0% purchase rate offer.

“A 0% purchase rate card could give Aussies some breathing room for their Christmas budget right now but can also deliver interest free periods of more than a year before the sky high interest rates kick in,” said Mozo Director, Kirsty Lamont.

According to the Mozo database, there are currently 6 credit cards that come with one of these offers. You can check out a few attractive options right now, or head to our interest free credit card comparison tables to find a host of other interest free cards.

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 201 credit cards.
Last updated 21 July 2024 Important disclosures
NAB - Low Rate Card
  • 0% purchase rate for 6 months
  • Low 13.99% purchase rate, thereafter
  • $59 annual fee

NAB’s Low Rate credit card delivers the security of a big bank for a cheap $59 annual fee and best of all, will give you half a year to sort out your Christmas debt before reverting to the low ongoing rate of 13.99%.

Great Southern Bank - Low Rate Credit Card
  • 0% purchase rate for 13 months
  • Low 11.99% purchase rate, thereafter
  • $49 annual fee
Find out more

With this CUA Low Rate credit card you won’t have to pay off your Christmas purchases till, well next Christmas! A super-lengthy 0% purchase rate period is replaced by a low 11.99% purchase rate after 13 months and you’ll only have to fork out $49 a year to get your hands on this piece of plastic.

Virgin Money - Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer
  • 0% p.a purchase rate for 14 months
  • 0% p.a balance transfer rate for 6 months
  • $129 annual fee
Find out more

The Virgin Australia Velocity Flyer card is a true all-rounder. It comes with the longest 0% purchase rate offer currently in the Mozo database, plus a neat 0% balance transfer offer and you can even earn lucrative Velocity Points with this card! Oh and did we mention that it comes with a $129 Virgin Australia gift voucher each year that you can use as you please on any Virgin Australia flight or holiday package.

*Calculations were based on borrowing $3,744 and making equal monthly repayments to repay the full amount over a six-month period at the relevant interest rate for each product type. All applicable establishment and monthly fees were included for overdrafts, short term cash loans and unsecured personal loans, redraw fees were included for home loans and one annual fee was taken into account for credit cards.

^See information about the Mozo Experts Choice Credit Card Awards

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