How to pay no interest on your credit card for 2 years

10 Apr 2018

Article by Ben Tosi

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Credit card interest can be a real killer for everyday Aussies, especially when you’re trying to double down on debt, but did you know there are credit cards on the market right now that won’t have you paying a cent in interest for more than two years?

That’s right, according to Mozo’s credit card database you can score zero interest periods on balance transfer plastics that last as long as 26 months, which will give you all the time you need to crush even the most stubborn debt.

Just be aware that the zero interest periods apply to transferred debt, so if you do make new purchases on your card you’ll be hit with interest charged at the purchase rate and any interest free days will not apply.

So, start by surveying a collection of debt-busting balance transfer cards below.

Citi Platinum

Promoted

Key features

0% balance transfer offer for 26 months (2.50% BT fee)
Up to 55 days interest free on your purchases
$49 annual fee in the first year ($149 after)

Want two years to pay off your debt? No problems, Citi delivers a whopping 26 months for you to conquer your credit card woes with its Platinum Balance Transfer Offer and will slash the annual fee from $149 to $49 in your first year. And the good news is that, once you’ve swept your debt away for good, you’ll get up to 55 days interest free on your purchases.

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HSBC Platinum Credit Card

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Key features

0% balance transfer offer for 22 months (2% BT fee)
Visa Platinum Concierge service
Mozo Experts Choice Award 2017 - Balance Transfer Card category

You can’t go wrong with a Mozo Experts Choice Award winner and that’s exactly what we have on our hands with the HSBC Platinum Credit Card. You’ll get 22 months to quash bad debt with this particular piece of plastic and you can live it up with the Visa Platinum Concierge service and HSBC’s home&away privilege program, which offers discounts on shopping, travel and fine dining in 40 countries across the world.

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ANZ First

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Key features

0% balance transfer offer for 18 months (2% BT fee)
Low annual fee of just $30
2017 Mozo Experts Choice Award - Balance Transfer Category

Delivering a low $30 annual fee and a 0% balance transfer period of 18 months are just two of the reasons the ANZ First Credit Card has a Mozo Experts Choice Award to its name. Extended warranty and purchase security insurance sure do help as well, so once you do blast your debt and start spending, your precious purchases will be all the more protected.

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Virgin Money Virgin Australia Velocity Flyer Card - Balance Transfer and Points Offer

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Key features

0% balance transfer rate for 18 months
$65 annual fee in the first year ($129 after)
$129 Virgin Australia gift voucher each year

The Virgin Australia Velocity Flyer Card is for the Aussie traveller who is determined to blast debt and get back to doing what they love. With a 0% balance transfer offer that lasts for a year-and-a-half, you’re able to double down on debt and then make the most of some seriously enticing rewards like a free $129 Virgin Australia gift voucher to use every year and complimentary transit accident insurance while you’re on your travels.

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American Express Velocity Escape Card

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Key features

0% balance transfer offer for 12 months (1% BT fee)
$0 annual fee
Complimentary travel assistance and purchase protection

If you work best with a bit of a stricter deadline, American Express’ Velocity Escape Card will cap your 0% balance transfer period at 12 months but delivers in so many other ways. The $0 annual fee and small 1% credit card establishment fee mean you can get started for next to nothing and you’ll also enjoy the perks that come with being an American Express customer like purchase protection and travel assistance. But best of all, you’ll have the peace of mind of knowing you’re signed up to a piece of plastic from our Mozo Experts Choice Award winning Credit Card Provider of the Year.

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Woolworths Everyday Platinum Credit Card

Promoted

Key features

0% balance transfer offer for 14 months
Multiple 2017 Mozo Experts Choice winner
$0 first year annual fee ($49 thereafter)

You’ll have plenty of time to pay off your balance with the Woolworths Everyday Platinum Credit Card, up to 14 months interest free in fact, and you’ll also be able to get your hands on it without paying the pesky annual fee in the first year. Plenty of additional everyday retail perks including a $50 Woolworths gift card, make this the kind of credit card that could continue to reap rewards for you long after you’ve said sayonara to debt.

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Want more choices? Check out a wider range of deals on the market right now using our balance transfer credit card comparison table.

*All rates and offers mentioned in this article are correct at time of writing, but may be subject to change. Please check the full Mozo review for each product for the most up-to-date information.

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Product providers don’t pay to be in the running and we don’t play favourites. Award winners may choose to purchase a licence to use their award in their own marketing and may choose to list products on the Mozo website in a way that may generate revenue for Mozo.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.