Interest Free Credit Card Offers – Compare Interest Free Credit Cards
Posted November 14th, 2009 and last modified December 16th, 2011The vast majority of credit cards are interest-free period credit cards. If you find one that isn’t, it had better have some seriously attractive features elsewhere to compensate.
The way the interest-free period works is to enable the customer to pay for goods or services on credit, and not be charged any interest on them. Whilst that sounds fantastic, there are naturally going to be provisos attached, and the canny customer must be aware of these if they are to enjoy all the advantages and none of the disadvantages of credit card ownership.
Featured Interest Free Credit Card
The Westpac 55 Day Card offers you a $0 annual fee for the first year. The annual fee is waived in subsequent years if you spend $10,000 or more on purchases in the previous year using your card.
- $30 annual fee
- 0% p.a. for 5 months (reverts to 19.59% p.a.) on purchases
- 3.99% p.a. for 6 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
- Paperless eStatements available
- Optional credit card repayment protection
- Increased credit card security with an embedded microchip and protected by CardShield
Read the Westpac 55 Day Credit Card – Special Offer terms and conditions.
Top Interest Free Credit Cards:
When interest-free credit cards work well:
Interest-free period credit cards normally offer either forty-four days, or fifty-five days interest-free on purchases. That means that if you make your purchase on the first day of your new statement period, you will enjoy the full amount of days interest-free. Alternatively, if your purchase is made on the very last day countable for that month’s statement, you will have less days interest-free because the due date for full payment of the debt is obviously closer.
Anyone who is clearing their balance in full every month is making perfect use of their interest-free period credit card. This full repayment requirement to continue receiving interest-free days is in the Terms & Conditions of the credit card.
When interest-free credit cards stall:
Whether you continue to enjoy interest-free days is entirely down to the use you put your credit card to, and how effectively you manage your debt on a month-to-month basis. If you consistently retain an unpaid balance on your credit card, for whatever reason, you will not be eligible for any interest-free days for the month that follows. That means any new purchases you make will start accruing interest from the day they are made. This is when problems can start.
You should also know that there are certain transactions that are never subject to interest-free days, and those are cash transactions. These include ATM withdrawals, cashback from merchants, buying traveller’s cheques and foreign currency, and any gambling transactions made on your credit card. These will all start building interest from the day they are made, and they are very likely to attract a cash-handling fee to boot. They will also be charged at a higher rate than your purchases.
Balance transfers are also not normally subject to any interest-free days, unless, of course, they are set at an offer rate of 0% for a certain period of time. Apart from that, if you make a balance transfer to an interest-free period credit card, you will automatically void those interest-free days for any and all purchases until the balance is paid off in full.
Nowadays, credit is a way of life. Using credit cards can get some people into trouble but there are others that are savvy and can use credit to their advantage. If you know how credit cards work then you are able to use it for your benefit.
Using Credit So It Works For You
Everyone knows that using credit is all about being able to “buy now but pay later.” The problem that people get into is that they tend to procrastinate and do not take care of their bills and balances in a timely manner and before you know it, they are in over their head. However, if you are aware of how credit cards work, you can use credit in a way that it will end up working for you.
Let’s say, for example, you know that you will have some money coming in a few weeks. But, your oven broke down and you need to replace it now. Waiting to pay for an oven could be very costly with eating out all the time. With credit, you are able to buy the oven now but pay for it later. However, the stickler about credit is the interest. No one likes to pay interest but if you know the system then you understand that you can find your way around it.
Many credit card programs offer interest free days. In fact, a lot of credit cards offer up to 55 days of no interest on their credit cards. Using credit cards interest free can be a real boon if you are stuck and in a situation where you need money fast. And, the best part of it is that you will not have to pay interest on that purchase if you pay the balance in full within the interest free grace period.
Find The Best Credit Card
When shopping around for a credit card, you will want to find one that offers not only a maximum amount of interest free days but also other rewards that will be a benefit to you. If you use “credit cards interest free” you will never have to pay a cent in interest to the credit card companies. Wouldn’t that feel good?!
Using credit cards interest free is the essential component to any credit card user’s arsenal to secure and manage their debt. When you understand how credit works then you are able to stay on top of your finances and, more importantly, stay out of financial trouble.
Check out today's featured offers:
| Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum | Westpac Low Rate |
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2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
0% p.a. for 6 months on purchases & balance transfers |
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