Credit CardInterest Free OfferPurchase Rate (p.a.)Annual Fee
ANZ Platinum0% p.a. for 17 months20.24%$0*
Bankwest Breeze Classic0% p.a. for 15 months9.90%$0*
Commbank Low Rate0% p.a. for 15 months13.24%$59
Westpac Low Fee0% p.a. for 15 months20.09%$0*
Virgin No Annual Fee0% p.a. for 12 months18.99%$0
ANZ First0% p.a. for 12 months & $30 cashback20.24%$30

If you want to reduce interest charges on purchases, a practical option is to use interest free offer credit cards. These products come in particularly handy when purchasing big-ticket items such as a holiday, furniture, or tech gear, or accumulating everyday purchases.

A good reason for having an interest free offer credit card is if you can’t pay the statement balance off each month or for those times when you need to spread repayments over time on a large purchase.

Plus, some financial providers even sweeten the deal on 0% purchase-rate offers with either a low annual fee or the ability to accumulate rewards points. 

To help you find the best deals for your needs, we’ve examined the top 6 interest-free credit cards in Australia. See the rundown on each offering below. Alternatively, view and compare interest free offer credit cards in the market on Kredmo's website for all the latest product details.  

Here are some other similar articles you may like too: Best Low Interest Rate Credit Cards or Best Balance Transfer Credit Cards.

ANZ Platinum

  • Interest Free Offer: 0% p.a. for 17 months.

  • Purchase Rate: 20.24% p.a.

  • Annual Fee: $0 in 1st year. After that, there's a continued no-annual-fee option, or it's $87 p.a., depending on how much you spend on the card yearly.

Why We Like It:

Towering at the top of the list is the ANZ Platinum credit card. It has a 0% p.a. for 17 months offer on purchases, paired with a no-annual-fee offer in the first year. This offer is only available to new ANZ Platinum account holders. Any purchase balances remaining after the offer period will have the standard purchase rate of 20.24% p.a. applied.

After the first 12 months of not paying an annual fee, you’ll be charged $87 per year for access. However, you can get this cost waived if you spend $20,000 or more on the card annually. 

The credit card provides users with up to 55 days’ interest-free. The minimum credit limit is $6,000. 

 

Extra Benefits:  

Happily, you can take this card on your travels and use any of its insurances if the need arises. For example, the card comes with international travel insurance, interstate flight inconvenience insurance, transit accident insurance, and Australian rental insurance.

Plus, a personal 24/7 concierge is available to you as an extra service for any of your travel and lifestyle booking needs. Shopping with the card also means eligible purchases get covered by purchase protection, the Guaranteed Pricing scheme, and an extended warranty

Most mobile payment apps are available to use with this card, too. For example, it integrates with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay. 

 

Income Eligibility: 

There’s no set minimum income required for this card.  

 

Bankwest Breeze Classic

  • Interest Free Offer: 0% p.a. for 15 months.

  • Purchase Rate: 9.90% p.a.

  • Annual Fee: $0 in the first year, then $49 p.a.

Why We Like It:

The Bankwest Breeze Classic is a great choice if you want a low purchase rate card and an interest-free offer with the lowest reverted rate in the market

Its 0% purchase rate offer for 15 months is only available to new Bankwest Breeze Classic customers. Also, the offer excludes product transfers from existing Bankwest cards.
After the promotional period finishes, any unpaid balances will be charged interest at a really low rate of 9.90% p.a., which is the lowest rate on this list. This means that the Bankwest Breeze Classic card is perfect for anyone unsure if they’ll be able to pay off their balance before the zero interest period ends.

Plus, you get to enjoy the features this card offers at no cost in the first year, then a low annual fee of $49 after. 

 

Extra Benefits:  

One of this card’s bonuses is that you can access the digital version of it via the Bankwest app. as soon as you’re approved. As such, you don’t have to wait to go shopping online or to pay bills and other everyday expenses with it.

The Breeze Classic is a simple, straightforward credit card with no bells and whistles. But if you want a card with more extras, check out the Bankwest Breeze Platinum credit card. The platinum product has an annual fee of a slightly higher $69 in the second year but comes with the added benefits of zero foreign transaction fees plus included complimentary international travel insurance.

 

Income Eligibility: 

The minimum income required is $15,000 for both the classic and platinum card.

 

Commbank Low Rate

  • Interest Free Offer: 0% p.a. for 15 months.

  • Purchase Rate: 13.24% p.a.

  • Annual Fee: $59 p.a.

Why We Like It:

We like the Commbank Low Rate credit card because of its low purchase rate after enjoying the 0% p.a. for 15 months purchase-rate offer currently available (when you apply by 30 September 2021 – conditions apply). However, this offer is only available on new Low Rate credit cards, not those already in service. 

The Low Rate card has an annual fee of $59. Its purchase rate is 13.24% p.a. with up to 55 days' interest-free. This rate also applies to any purchase balances remaining after the interest-free offer period ends.

The card has a minimum credit limit of $500. 

 

Extra Benefits:  

Sign up for this card, and you’ll also receive access to the Priceless Cities program for special offers to shows and experiences around the globe. 

Smartphone payments are available with popular apps Apple Pay, Google Pay, Samsung Pay, and Beem It.  

If you want some travel and shopping insurances included, you can go for the Commbank Low Rate Gold. It comes with the same 0% for 15 months interest-free offer, plus international insurance, purchase protection, extended warranty at an annual cost of $89 p.a. Its minimum credit limit is $4,000.  

 

Income Eligibility: 

No set minimum income is required for this card.

 

Westpac Low Fee

  • Interest Free Offer: 0% p.a. for 15 months.

  • Purchase Rate: 20.09% p.a.

  • Annual Fee: $0 in the first year. There's a continued no-annual-fee option for subsequent years, or you’ll pay $30, depending on your spending level.

Why We Like It:

The Westpac Low Fee credit card has a helpful no-annual-fee offer in the first year. For the following years, the annual fee is $30 (the lowest on this list), or it stays at zero if you spend $15,000 or more on your card each year. 

You must apply online to get the current offer of 0% interest for 15 months on purchases (conditions apply). This offer is only available to new Westpac Low Fee cardholders.

The purchase interest rate reverts to the standard rate of 20.09% per annum on any balances not paid off after the interest-free period ends.

If you’re seeking a low credit card limit and only want to make small purchases, the Westpac Low Fee product could suit you well. It boasts a low minimum credit limit of $500.

 

Extra Benefits:  

Like many other interest-free and no-annual-fee cards in Australia, this one comes with few added features. However, you do get to pay with mobile payment options such as Fitpay, Google Pay, and Samsung Pay if you’d like.

 

Income Eligibility: 

No set minimum income is required for this card.

 

Virgin No Annual Fee

  • Interest Free Offer: 0% p.a. for 12 months.

  • Purchase Rate: 18.99% p.a.

  • Annual Fee: $0.

Why We Like It:

The Virgin No Annual Fee credit card has one of the few completely fee-free purchase rate offers in the market, which is perfect for anyone wanting to avoid paying interest on retail purchases for 1 year.

The product offers 0% interest for 12 months on purchases, with no transfer fee to pay, either. The reverted interest rate on carried-over balances after that first year is 18.99% p.a. 

The Virgin credit card has a minimum credit limit of $2,000.

 

Extra Benefits:  

If you're an Android fan who enjoys paying via mobile, you'll be happy to hear this card integrates with Apple Pay and Samsung Pay.

 

Income Eligibility: 

The minimum income required is $25,000.

 

ANZ First

  • Interest Free Offer: 0% p.a. for 12 months.

  • Purchase Rate: 20.24% p.a.

  • Annual Fee: $30.

Why We Like It:

The ANZ First credit card is offering 0% p.a. for 12 months on purchases and $30 cash back. (This deal is available to new credit card customers only). The remaining balance after the interest-free period ends reverts to the rate of 20.24% p.a.  

The ANZ First is more of a basic credit card with a low annual fee of $30 p.a.

After the interest promotion period ends, purchases will have up to 55 days interest free when the balance is paid off each month. It has a minimum credit limit of $1,000.

 

Extra Benefits:  

Get yourself up to 3 additional cards at no cost.

Have more access to fun with its complementary membership with Visa Entertainment. With it you can get special offers and discounts to events and entertainment.

When shopping online or in-store it's always great to have its purchase protection cover. And for purchased goods within Australia you could use its extended warranty insurance.

 

Income Eligibility: 

No set minimum income is required for the ANZ First.

 

We hope you found our list of top 6 interest free credit cards in Australia for 2021 helpful! 

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