Credit Card Feature Explained: Up To 55 Interest Free Days

Featured 55 Day Credit Card

As well as 55 days interest free another feature which can save you a lot of money is no annual fees. If you pay off your credit card in full each month then the HSBC Credit Card is ideal as it features both a $0 annual fee for the life of the card plus 55 days interest free on purchases. This means it will cost you nothing to use this card provided you continue to pay your balance in full each month

• $0 annual fee
• 16.99% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 20.75%
• HSBC home&Away Privilege Program gives you instant access to discounts and benefits worldwide

Click here to read the HSBC Credit Card terms and conditions

The frequently offered 55 interest free days are one of the most popular features of credit cards for consumers. After all, this feature can save you a lot of money, especially if you pay off your card in full each month. It is like a thank you from the card company, honouring you for being diligent in your payments and giving you something back in return.

Interest free days on credit cards are often misunderstood:

When you fail to pay off your debt in full on any given month, you will lose the privilege of having interest free days, which means you will pay more interest than you thought.

Be sure to make your payment in full by the due date each month and you won’t need to worry. You should also understand that unless you do pay off your outstanding balance by your due date your 55 interest free days will not be granted to you.

If you are in a situation where you need extended credit and can’t pay off your balance in full for a few months then you might want to look at other credit card options instead. Compare credit cards to learn which of them suits your current needs best.

The 55 interest free days credit cards are really the best solution for consumers who want to take advantage of paying off their card in full each month by the due date. Using these cards has many other benefits as most of them offer you additional rewards in the form of Frequent Flyer points, or low rates. Either way, make sure you understand what the terms mean for your own financial situation before you sign any contract.

Below are credit cards with 55 interest free days:

• Citibank Clear Credit Card
• St. George Vertigo
• ANZ Low Rate MasterCard
• BankWest Lite MasterCard

Whatever card you’ll end up choosing, with a 55 interest free days credit card you can save a lot of money if you stick to the terms.

For more simple explanations like this, read our Credit Card Features guide

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0