An Interest free credit card is a credit card with a purchase rate of 0% p.a for a fixed period of 6 months or more, but may also refer to balance transfer credit cards with 0% balance transfer offers. Below is a list of Interest free credit cards in NZ including 0% balance transfer credit cards to help you find the best interest free credit card for you.
Updated: 5 Dec, 2024
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Card | Description | Purchase Rate (p.a.) | Balance Transfer | Cash Rate (p.a.) | Annual Fee | Interest Free Days |
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The American Express Airpoints Credit Card
Platinum Award | Interest Free (0% P.A.) on purchases for the first 6 months, plus NO ANNUAL FEE and earn 1 Air New Zealand Airpoints Dollar for every $100 you spend. CURRENT OFFER: 50 bonus Airpoints Dollars™ when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only. Reward Points Cash Equivalent: $100 spend earns $1.00 cash equivalent^. | 0% p.a. for 6 months then 22.95% p.a. | N/A | 22.95% p.a. | $0.00 | 55 days
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Gem Visa Credit Card
Gold Award | The Gem Visa credit card comes with a purchase rate of 29.49% and an annual fee of $65 p.a. Get 0% for the first 6 months on purchases $250 or more. T&Cs apply. | 29.49% plus 0% interest for 6 months on purchases $250 or more. T&Cs apply. | N/A | 29.95% | $65.00 | 55 days for purchases under $250
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Q Card
Gold Award | Q Card offers a 3 months no payments and no interest on purchases made at thousands of select retailers. There is a $50 annual fee and a $55 establishment fee on your first purchase using Long Term Finance. The establishment fee reduces to $35 for subsequent Long Term Finance Purchases. | 28.50% p.a. plus 0% interest for 3 months on purchases made from select stores | N/A | N/A | $50.00 | 3 months
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Q Mastercard Credit Card
Gold Award | Q Mastercard offers a minimum 3 months zero interest, zero payments on all purchases. There is a $50 annual fee and a $55 establishment fee on your first purchase using Long Term Finance. This establishment fee reduces to $35 for subsequent Long Term Finance purchases. | 28.50% p.a plus 0% interest for 3 months on purchases made from select stores | N/A | N/A | $50.00 | 3 months
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TSB Low Rate Mastercard Credit Card
Gold Award | The TSB Low Rate Mastercard has a very low interest rate of 11.95% p.a. for purchases and cash advances. | 11.95% | 0% for 6 months | 11.95% | $20.00 | 55 days
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Co-operative Bank Fair Rate Credit Card
Gold Award | The Fair Rate Credit Card has a very low purchase rate of 12.95% p.a. plus a balance transfer rate of 0% p.a. for 6 month. This might be a good card if you are looking for a credit card with a low interest rate and/or a card with a 0% p.a. balance transfer offer. | 12.95% p.a. | 0% p.a. for 6 months | 12.95% p.a. | $20.00 | 55 days
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ASB Visa Light Credit Card
Gold Award | The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months plus 0% p.a. for 6 months when you spend $1,000 or more on any single eligible purchase | 13.5% p.a. | 0% p.a. for 6 months | 22.95% p.a. | $0.00 | 55 days
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ASB Visa Platinum Rewards Credit Card
Gold Award | Choose between True Rewards or Everyday Rewards points. Earn 1 True Rewards Dollar for every $100 you spend or 1 Everyday Rewards point for every $1 spent on your ASB card. This card also comes with travel insurance for you, your spouse and your dependent children. Reward Points Cash Equivalent: $100 spend earns $1.00 cash equivalent in True Rewards points^. | 19.95% | 0% p.a. for 6 months | 22.95% | $80.00 | 55 days
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ASB Visa Rewards Credit Card
Gold Award | Get one True Rewards Dollar for every $150 you spend on your ASB Visa Rewards. One True Rewards Dollar equals one New Zealand dollar. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent^. | 20.95% | 0.00% for 6 months | 22.95% | $40.00 | 55 days
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Purple Visa Credit Card (Purple Visa NZ)
Gold Award | The Purple Card offers 1 purple dollar for every $150 spent wherever Visa is accepted plus 12 months interest free for purchases over $250 from participating retailers. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent^. | 26.65% p.a. Plus 12 months interest free for purchases over $250 from select stores | N/A | 29.40% | $55.00 | 55 days
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^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.
Interest free periods typically last between six to twelve months, depending on the card issuer. During this time, you can make purchases or transfer balances without paying interest. However, once the interest free period ends, any remaining balance will be subject to the card’s standard interest rate, which can be quite high. To make the most of an Interest free period, you should aim to pay off the balance in full before the period expires.
When considering an NZ Interest free credit card, be aware of the following common terms and conditions:
Understanding these terms can help you make an informed decision and avoid unexpected costs.
Take a close look at your spending habits. Identify where you spend the most and consider if an interest free credit card aligns with your financial behaviour. Make a list of your regular expenses and see if the card’s benefits match your needs.
Different credit cards offer various rewards and benefits. Some may provide cashback, while others offer reward points or discounts. Evaluate what rewards are most beneficial for you. Make sure the card you choose complements your lifestyle and spending habits.
Creating a solid repayment plan is important to avoid falling into debt. Here are some steps to help you manage your repayments effectively:
Interest free credit cards can be beneficial, but they come with risks. Here are some common pitfalls to avoid:
To get the most out of your Interest free credit card, consider these tips:
When comparing Interest free credit cards in NZ, it’s essential to look beyond the initial Interest free period. Consider the ongoing interest rates and any associated fees. Some cards may offer a 0% interest rate for a limited time but have high rates afterward. Additionally, be aware of annual fees, late payment fees, and other charges that could impact your overall cost.
Many NZ Interest free credit cards come with extra benefits and rewards. These can include cashback offers, reward points, or travel perks. Evaluate these programs to see if they align with your spending habits and financial goals. For instance, if you travel frequently, a travel credit card might be more beneficial.
Customer service is an important factor when choosing a credit card. Good customer support can help you resolve issues quickly and efficiently. Look for reviews and ratings of the card issuer’s customer service. Consider whether they offer 24/7 support, online chat options, and other convenient ways to get help when you need it.
Depending on the type of interest free credit card you are after there are some alternatives you could consider.
If you are after an interest free credit card that charges no interest on purchases for a few months you could also consider the following cards:
The reward points and benefits offered by some credit cards with rewards can offset the interest and annual fee charged if you can take full advantage of them. Airpoints credit cards are rewards credit cards that are particularly popular in New Zealand.
If you are a frequent traveller then Frequent Flyer Credit Cards might provide enough points and benefits to be worth considering. These credit cards tailored to frequent flyers and offer benefits frequent flyers would enjoy such as Free travel insurance, Airport lounge access and more.
If you expect to take much longer than the interest free promotional period to pay off the balance then a low interest credit card might be a better option depending how long you might take to pay off the balance and what the fallback rate is on the interest free credit card.
On the other hand, if you are after an interest free credit card that charges no interest on balance transfered to the credit card (0% balance transfer) you might also want to consider a low rate credit card or a Long term balance transfer Credit Cards.
We’ve also put together a list of the best credit cards in NZ to help Kiwis find the right card, alternatively you can browse through all NZ Credit Cards from our home page and use the filters to find a suitable card.
Interest-free credit cards are a type of credit card that offers a period during which no interest is charged on purchases or balance transfers. This can be an attractive option if you need to make a large purchase or want to consolidate existing debt without incurring immediate interest charges. However, it is important to understand the terms and conditions to avoid potential pitfalls.
In our opinion the best interest free credit card in NZ is The American Express Airpoints Credit Card because it charges no annual fees, offers 6 months interest free on purchases and allows you to earn Airpoints with a very attractive earn rate, but the the best interest free credit card for you depends on your needs and personal circumstance. We encourage you to compare all the interest free credit cards on our site to choose the best card for you.
We’ve compiled above a list of all interest free credit cards in NZ to help you choose the right credit card for you. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by a credit card type as shown below. Note: you can select more credit card types using the top menu of this page.