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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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    • 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
    Product info
    • 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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  • BCU Classic

    BCU Classic

    • 0% p.a. on balance transfers for 12 months. Limited time only
    • Low ongoing purchase rate of 11.80% p.a
    • Up to 55 days interest free on purchases

    Purchase Rate

    11.80%

    Annual Fee

    $40

    Balance Transfer Rate

    0% for 12 months

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    More info

    • 0% p.a. on balance transfers for 12 months. Limited time only
    • Low ongoing purchase rate of 11.80% p.a
    • Up to 55 days interest free on purchases
    Product info
    • Balance transfer rate: 0% for 12 months
    • Annual fee: $40
    • Purchase rate: 11.80%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 11.80%
    • Fee for cash withdrawals: $1.25
    Overall rating

    9.1

    Based on 38 BCU credit card reviews

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  • Westpac Low Rate - Online Only Offer

    Westpac Low Rate - Online Only Offer

    • 0% p.a. rate on balance transfers for 18 months when requested at card application
    • 0% p.a. on purchases for the first 3 months
    • Online only offer for applications approved by 29 February 2016

    Purchase Rate

    0% for 3 months then 13.49%

    Annual Fee

    $59

    Balance Transfer Rate

    0% for 18 months and then 21.49% (2.00% balance transfer fee)

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    • 0% p.a. rate on balance transfers for 18 months when requested at card application
    • 0% p.a. on purchases for the first 3 months
    • Online only offer for applications approved by 29 February 2016
    Product info
    • Balance transfer rate: 0% for 18 months and then 21.49% (2.00% balance transfer fee)
    • Annual fee: $59
    • Purchase rate: 0% for 3 months then 13.49%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 21.49%
    • Fee for cash withdrawals: 2%, Min $2.50, Max $150
    Overall rating

    7.2

    Based on 1431 Westpac credit card reviews

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  • HSBC Credit Card

    HSBC Credit Card

    • $0 annual fee for the life of the card
    • 0% p.a. on balance transfers for 6 months
    • Up to 55 days interest free on purchases

    Purchase Rate

    17.99%

    Annual Fee

    $0

    Balance Transfer Rate

    0% for 6 months and then 21.99%

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    More info

    • $0 annual fee for the life of the card
    • 0% p.a. on balance transfers for 6 months
    • Up to 55 days interest free on purchases
    Product info
    • Balance transfer rate: 0% for 6 months and then 21.99%
    • Annual fee: $0
    • Purchase rate: 17.99%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 21.99%
    • Fee for cash withdrawals: 3%, min $4.00
    Overall rating

    5.5

    Based on 139 HSBC credit card reviews

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  • St.George Vertigo

    St.George Vertigo

    • 0% p.a. on balance transfers for the first 18 months
    • 0% p.a. on purchases for the first 3 months
    • Up to 55 interest free days on purchases

    Purchase Rate

    0% for 3 months then 13.24%

    Annual Fee

    $55

    Balance Transfer Rate

    0% for 18 months and then 21.49%

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    More info

    • 0% p.a. on balance transfers for the first 18 months
    • 0% p.a. on purchases for the first 3 months
    • Up to 55 interest free days on purchases
    Product info
    • Balance transfer rate: 0% for 18 months and then 21.49%
    • Annual fee: $55
    • Purchase rate: 0% for 3 months then 13.24%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 21.49%
    • Fee for cash withdrawals: 2%, Min $2.50
    Overall rating

    7.0

    Based on 330 St.George credit card reviews

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  • Bank of Melbourne Vertigo

    Bank of Melbourne Vertigo

    • 0% p.a. on balance transfers for the first 18 months
    • 0% p.a. on purchases for the first 3 months
    • Up to 55 interest free days on purchases

    Purchase Rate

    0% for 3 months then 13.24%

    Annual Fee

    $55

    Balance Transfer Rate

    0% for 18 months and then 21.49%

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    More info

    • 0% p.a. on balance transfers for the first 18 months
    • 0% p.a. on purchases for the first 3 months
    • Up to 55 interest free days on purchases
    Product info
    • Balance transfer rate: 0% for 18 months and then 21.49%
    • Annual fee: $55
    • Purchase rate: 0% for 3 months then 13.24%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 21.49%
    • Fee for cash withdrawals: 2%, Min $2.50
    Overall rating

    7.8

    Based on 69 Bank of Melbourne credit card reviews

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  • St.George Vertigo Platinum

    St.George Vertigo Platinum

    • 0% p.a. on balance transfers for the first 20 months
    • 0% p.a. on purchases for the first 3 months
    • $99 annual fee

    Purchase Rate

    0% for 3 months then 12.74%

    Annual Fee

    $99

    Balance Transfer Rate

    0% for 20 months and then 21.49%

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    More info

    • 0% p.a. on balance transfers for the first 20 months
    • 0% p.a. on purchases for the first 3 months
    • $99 annual fee
    Product info
    • Balance transfer rate: 0% for 20 months and then 21.49%
    • Annual fee: $99
    • Purchase rate: 0% for 3 months then 12.74%
    • Interest free days: 55
    • Rewards description:
    • Interest rate on cash withdrawals: 21.49%
    • Fee for cash withdrawals: 2%, Min $2.50
    Overall rating

    7.0

    Based on 330 St.George credit card reviews

    Need more information?
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