Which credit cards offer interest free purchases for up to 55 days?

Information verified correct on October 1st, 2016
interest free days on purchases

One of the more commonly found features on modern day credit cards is interest free days on purchases.

In it’s simplest form, this feature gives the card holder a certain amount of time after a purchase before they start incurring interest on the amount.

How the principle of an interest free credit card works

For example, on an interest free credit card, if John buys a shirt for $60 dollars, and has an interest free period of 55 days, he will then have 55 days in which to pay back the $60 dollars to the card, before he has any interest added.

It is very important to remember when using an interest free credit card, not to spend more than you can pay back within the allotted interest free period. As tempting as it may be to “splash the cash”, do remember that although this feature gives you a bigger window of opportunity in which to pay off the bill, it is rendered useless if you do not pay off the amount in full before the end of the interest free period. This is because if you fail to pay the full amount back in time, you then have to pay the interest, as well as the original balance.

One very important thing to note with an interest free credit card, and one thing that often catches people unawares is that even though you may have an interest free period of say 55 days, it s rare you will ever have the maximum 55 days to pay off your purchases. This is because the interest free period begins at the beginning of the billing period. So for example on day 1 of the billing and interest free period you buy something, and on the 30th day of the period you buy something else, BOTH purchases will have only 25 interest free days left.

In other words, the interest free period starts at the beginning of your billing period and not at the point you make each purchase. For that reason be sure to make a note of the beginning of each period so you know how long you have left at 0% interest.

Let’s have a look at the most popular cards available at the moment, and see what they have to offer in terms of their interest free periods:

Comparison of 55 Day Interest Free Credit Cards

Rates last updated October 1st, 2016.

Commonwealth Bank Business Interest Free Days credit card

First year annual fee waiver has been extended until 31 October 2016.

September 2nd, 2016

ME Bank frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

St.George Vertigo Visa

Balance transfer and purchase offer have been extended until 4 January 2017.

September 30th, 2016

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Interest Free Period Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
Up to 55 days on purchases 11.99% p.a. $0 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
Up to 55 days on purchases 14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
Up to 55 days on purchases 1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
Up to 55 days on purchases 19.99% p.a. $199 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
Up to 55 days on purchases 1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
Up to 55 days on purchases 19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
Up to 55 days on purchases 19.74% p.a. $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases.
Up to 55 days on purchases 1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Go to site More info
Citi Clear Platinum Card
A low rate platinum credit card with a low interest rate on purchases and balance transfers.
Up to 55 days on purchases 0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
Up to 55 days on purchases 21.99% p.a. 4.99% p.a. for 6 months $0 p.a. Go to site More info
ANZ Low Rate
Save with a low rate on purchases and balance transfers with a low annual fee and ongoing purchase rate.
Up to 55 days on purchases 13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy 0% p.a. for 12 months on balance transfers and receive a complimentary Virgin Australia domestic economy return flight every year.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $195 p.a. Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long term balance transfer offer of 0% p.a. for 18 months and an introductory offer of 1% p.a. for 12 months on purchases.
Up to 55 days on purchases 1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
Up to 55 days on purchases 20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
Commonwealth Bank Business Interest Free Days credit card
Take advantage of $0 annual fee for the first year. Get up to 55 interest-free days on purchases and included transit accident insurance.
Up to 55 days on purchases 17.57% p.a. $0 p.a. annual fee for the first year ($60 p.a. thereafter) Go to site More info
Commonwealth Bank Business Platinum Awards credit card
Earn up to 3 Awards points per dollar spent, enjoy complimentary insurances and $0 annual fee for the first year.
Up to 55 days on purchases 20.74% p.a. $0 p.a. annual fee for the first year ($300 p.a. thereafter) Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 2 months of Card Membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $395 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
Up to 55 days on purchases 19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Newcastle Permanent Value+ Credit Card
Enjoy a competitive annual fee and interest rates on purchases, cash advances, and balance transfers.
Up to 55 days on purchases 11.49% p.a. $49 p.a. Go to site More info
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Credit Cards Comparison

Rates last updated October 1st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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