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Note: if you are after a 0% balance transfer credit card visit our 0% Balance Transfer Credit Cards page
An Interest Free Credit Card or Zero Interest Credit Card is a credit card with a 0% purchase rate for a fixed period of usually between 6 months to 12 months, after which, the standard interest rate kicks in.
An Interest Free Credit Card might be suitable for you if you do not expect to pay off your credit card balance for a few months, but expect to be able to pay it back before the interest free period lapses or soon after. A Zero Interest Credit Card might be suitable for big ticket items.
An Interest Free Credit Card might NOT be suitable for you if you do not expect to pay off the money you have borrowed using the credit card before the interest free period lapses or at least a few months after the interest free period lapses.
Most Interest Free Credit Cards charge an annual fee, and like most credit cards, a minimum repayment amount is likely to apply. This minimum repayment amount could actually work in your favor as it encourages you to make small regular repayments.
Interest Free Credit Cards usually do not have a low standard rate, but if we do come across any of these you are sure to find it on this page. Simply sort the cards by Purchase rate to find the card with the lowest standard interest rate.
The best Interest Free Credit Card is subjective and depends on your needs. We have made it easy for you to compare Interest Free Credit Cards on this page and find the best Interest Free Credit Card to suit your needs.
Almost all NZ credit cards require you to make minimum repayments each billing cycle, but this minimum repayment is usually just a fraction of the total amount borrowed. You should make more than the minimum repayment if you are serious about paying off your credit card debt.
Once you have found an Interest Free Credit Card that you like simply click on the “Go to site” or “Apply Now” button to go the credit card provider’s website to review the card details again and apply online. In most cases the whole process can be completed online.
The banks and credit card providers are counting on you to either not pay off your balance on time or stick with them even after you have paid off your balance. But also remember, the banks do charge an annual fee for these cards and as such they do make money regardless.
1. Documents not required with initial application, but might be required if your application is successful