Credit cards that offer 2 years or more interest-free
Interest-free periods on credit cards can help you manage existing debt — here’s a look at what’s on offer
The festive season and the beginning of the year can be taxing on personal finances, thanks to back-to-school purchases and the cost of Christmas and holidays.
It’s tempting to get your finances back on track by using a credit card with a long interest-free period.
Current interest-free periods mean that you can avoid interest for up to 30 months on the balance you transfer to the new card, allowing you to pay off debt at a lower rate.
Longest 0% balance transfer period (ends 28 Febuary):
- 0% p.a. for 30 months on balance transfers. (2% balance transfer fee applies).
- Reverts to variable cash advance rate.
- $0 p.a. annual fee for the first year.
Longest 0% balance transfer with rewards:
- 0% p.a. for 26 months on balance transfers.
- A one-off 2.5% balance transfer fee.
- A reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
Longest 0% balance transfer that reverts to a low rate:
- 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee.
- Reverts to low 12.99%p.a. interest rate
- $79 p.a. annual fee
One-year Balance Transfer with no fees:
- 0% interest on balance transfers for 12 months
- Reverts to low purchase rate of 11.99% p.a.
- No annual fee
Longest super-low 3% rate on balance transfers with rewards and Qantas points programs:
- 3% p.a. for 36 months on balance transfers with no balance transfer fee.
- $0 p.a. annual fee for the first year (save $79).
- Earn points into either the Amplify Rewards program or Amplify Qantas program.
Long 0% Balance Transfer with multiple free insurances:
- 0% p.a. for 20 months on balance transfers with a 2% transfer fee.
- 7 complimentary insurances: Overseas Travel Insurance, Interstate Flight Inconvenience Insurance, Transport Accident Insurance, Domestic Hotel Burglary Insurance, Purchase Protection Insurance, Extended Warranty Insurance, Price Protection Insurance.
- Platinum Concierge Service—your own 24 hour, 7 day personal assistant.
9Saver Tips for Balance Transfers:
- Moneysmart.gov.au recommends you take full advantage of the interest-free period by paying off the transferred balance during the interest-free period.
- Balance transfers automatically take away your interest free days for new purchases while you have debt – so any additional shopping creates interest straight away.
- Check whether the interest-free period on your credit card applies to new purchases. You will usually be charged interest on new purchases during the interest-free period.