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Free credit card

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RateCity
- 1 min read
Free credit card

There is a popular saying ‘nothing in life is free’, so what should you make of free credit cards? Like everything, there are a few clauses but it’s worth reading into.

Credit cards are sometimes considered “free” because they usually offer 55 days of interest free on purchases, meaning if you pay back your debt within the period, you won’t be charged any interest. However, the actual number of interest free days often depends on:

  • When you make the purchase
  • When your statement is issued
  • Whether you’re carrying forward a balance from a previous statement period

Some credit cards, particularly charge cards, also require you to pay off your balance in full every month and have no rate. However, be sure to look at the ongoing fees charged, as well as how much the rates jump when you miss repayments, just to be on the safe side.

Is a free credit card the right card for you? Use the RateCity free credit card comparison tool to compare and find out more.

Disclaimer

This article is over two years old, last updated on December 15, 2008. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent credit cards articles.

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Product database updated 19 Mar, 2024