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Interest free credit

  • Interest free credit cards get a lot of, well, interest from financially savvy types. Basically, they give you the flexibility to spend money on credit (and possibly earn rewards points) and pay no interest at all, for a certain period of time.

  • How do interest free credit cards work?

    Interest free credit cards are offered to new customers as an incentive for switching credit cards. Some credit cards will have interest free rates for purchases but you can also get intro rates when you transfer a balance from another credit card. A 0% purchase rate, for example, lets you make purchases on your credit card without a charge for a set period of time.

  • Are there any tricks and traps with interest free credit cards?

    There are indeed. Some cards will revert to high cash advance rates for balances not paid off within the interest free period. And most cards don't apply the intro period to such things as cash advances.

Credit card comparisons on Mozo Rates updated daily

  • Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

    Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

    • 0% p.a. on balance transfers for 6 months
    • 0% p.a. on purchases for up to 12 months
    • Enjoy an exclusive annual flight benefit. Conditions apply

    Purchase Rate

    0% for 12 months then 20.74%

    Annual Fee

    $129

    Balance Transfer Rate

    0% for 6 months and then 20.99%

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    More info

    • 0% p.a. on balance transfers for 6 months
    • 0% p.a. on purchases for up to 12 months
    • Enjoy an exclusive annual flight benefit. Conditions apply
    • Balance transfer rate: 0% for 6 months and then 20.99%
    • Annual fee: $129
    • Purchase rate: 0% for 12 months then 20.74%
    • Interest free days: 44
    • Rewards description: Points are credited to the Velocity Frequent Flyer program.
    • Interest rate on cash withdrawals: 20.99%
    • Fee for cash withdrawals: 2.7%, Min $2.70
    Overall rating

    5.7

    Based on 97 Virgin Money credit card reviews

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