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Big banks offering zero per cent deals to put credit cards back in Aussie pockets

Laine Gordon avatar
Laine Gordon
- 3 min read
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Credit card lenders are offering attractive ‘zero per cent’ introductory deals this summer in a bid to get new customers on to their books.

Research from RateCity.com.au shows there are 13 credit card providers including big name banks such as CBA, NAB, St George and Bendigo who are offering an initial interest free period of up to 15 months interest free when you sign up to a new credit card.

RateCity.com.au analysis shows Australians are expected to spend nearly $24 billion on their credit cards in December. Offers like this means people can finish last minute Christmas shopping and pay for the holiday season and still have time to pay it back before the interest bill hits.

Sally Tindall, research director at RateCity.com.au, said while these cards can serve as a short-term financial solution, those thinking about signing up to these cards should do so with caution.

“There is no such thing as a catch-free credit card and these cards are no exception,” she said.

“One of the biggest traps you can fall into with these cards is not being able to clear the debt within the interest free period.

“If you don’t pay it back before the honeymoon is over you could find yourself in all sorts of strife, with rates as high as 21.49 per cent. Rates that high on a sizeable debt can be financially crippling.

“Banks rely on the fact that some people will slip up and not pay their bill in full. Don’t let that be you,” she said.

The longest zero per cent purchase credit cards

CompanyProduct nameInterest ratesAnnual fee
CBALow Fee Gold Mastercard0% for the first 15 mths, then 19.74%$0 for 12 months, then $0 if you spend over $10K annually
CBALow Rate Gold Mastercard0% for the first 15 mths, then 13.24%$89 annual fee
Bendigo BankLow Rate Mastercard0% for the first 15 mths, then 11.99%$45
St. George, Bank of Melbourne, BankSAVertigo Platinum0% for 15 mths, then 12.99%$49 for 12 months, then $99
NABLow Rate Platinum0% for 15 mths, then 13.99%$100

Things to consider before taking out an interest-free credit card offer:

  • Don’t use your credit card as a licence to overspend at the shops this Christmas.
  • Don’t rely on your bank to tell you how much you can afford to spend. Set your own limit on your credit card and make sure it’s one you can afford to pay back.
  • Before you start using the card, work out a foolproof plan to pay it off in full before the interest free period ends.
  • Remember to cancel your old credit card, if you have one. The last thing you want is not one but two credit cards burning a hole in your wallet.
  • If you know you have trouble managing your money, you’re likely to be better off steering clear of them altogether.

Disclaimer

This article is over two years old, last updated on December 18, 2019. 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 07 Jul, 2025

This article was reviewed by Research Director Sally Tindall before it was published as part of RateCity's Fact Check process.

Promoted credit cards

First Option Credit Union Limited credit cardFirst Option Credit Union Limited

First Option Bank Low Rate Visa Credit Card

  • Special
  • Apple, Google & Samsung Pay
  • Balance transfer
  • Low annual fee

Purchase rate p.a.

10.49%

Annual fee

$0

for 12 months then $48 thereafter

Australian Credit Licence 236509
Fees & charges apply

ANZ Banking Group Limited credit cardANZ Banking Group Limited

ANZ Rewards Black

  • Bonus Points
  • Apple, Google & Samsung Pay
  • Balance transfer

Purchase rate p.a.

20.99%

Annual fee

$375

Australian Credit Licence 234527
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ANZ Banking Group Limited credit cardANZ Banking Group Limited

ANZ Low Rate (Credit Back Offer)

  • Special
  • Apple, Google & Samsung Pay
  • Balance transfer
  • Low annual fee

Purchase rate p.a.

13.74%

Annual fee

$58

Australian Credit Licence 234527
Fees & charges apply

ANZ Banking Group Limited credit cardANZ Banking Group Limited

ANZ Rewards Platinum (Points offer)

  • Bonus Points
  • Apple, Google & Samsung Pay
  • Balance transfer

Purchase rate p.a.

20.99%

Annual fee

$149

Australian Credit Licence 234527
Fees & charges apply

product data updated on

Product data updated on 7 Jul 2025