Compare no interest credit cards

Find a credit card that best suits your needs. Compare interest rates, balance transfer rates, annual fees and more from Australia's leading lenders, big and small. - Data last updated on 24 Aug 2019

Compare no interest credit cards

Popular credit cards products

  • Some credit cards will include a special one-off bonus that can include a no-interest period, otherwise known as a 0 per cent, interest-free period.

    There are a few things to note when you sign for no-interest credit cards and there are a few traps to be aware of.

    What are no-interest credit cards?

    A credit card that says it is a “no-interest credit card” or a card with “0 per cent interest” is a card that has a designated period where there are no interest fees laid onto your purchases.

    The interest-free period is usually a short period of time and is associated with a promotion.

    Is this a no-interest credit card for the lifetime of the card?

    No, your no-interest credit card has 0 per cent interest for a temporary period, not forever.

    It is often only offered with some cards across a period of time, sometimes a year, sometimes shorter, sometimes longer, but it is a designated period of time that will be outlined when you first sign up.  

    How long is the no-interest period on my credit card?

    The length of the no-interest period on cards changes depending on the card. They tend to average from three to 18 months.

    Note that not all cards will offer a no-interest period, and you should understand the product disclaimer notice that comes with credit cards.

    What are the pros and cons of no-interest credit cards?

    Credit cards will always offer a range of pros and cons, so it is important to understand what you’re signing up for when you get yourself a credit card.

    Pros:

    • No-interest credit cards provide shoppers, or anyone making an expensive or large amount of purchases, with time to pay their debt down.
    • Unlike regular credit cards, which tend of offer around a no-interest period of between one and two months, a 0 per cent or no-interest credit card often gives users between three and 18 months of time before interest is charged.

    Cons:

    • You need to monitor how long you interest-free period last for so you know when it ends.
    • When the no-interest period ends, the standard credit card interest rate for purchases will be applied.
    • If you haven’t been paying off your credit card bill, you could be in serious financial hot water.

    How can I apply for a no-interest credit card?

    Applying for a no-interest credit card is a similar process as applying for a normal credit card. You will find the appropriate card for your uses and then you will apply for it through your bank or your chosen financial institution.

    It is always important to compare cards of different varieties before purchasing and signing up for a credit card.

    Please note that a no-interest credit card might come with downsides such as stiff fees. So you need to weigh up the pros and cons before signing up for a no-interest credit card.

    ^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

    Compare your product with the big 4 banks, or add more products to compare
    As seen on