Interest Free Credit Card Offers in NZ

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.

Updated: 27 Nov, 2023

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CardDescriptionPurchase Rate (p.a.)Balance TransferCash Rate (p.a.)Annual FeeInterest Free Days
The American Express Airpoints Credit Card
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. 0% p.a. for 6 months then 22.95% p.a.N/A22.95% p.a.$0.0055 days
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No documents required to apply1

Co-operative Bank Fair Rate Credit Card
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 months12.95% p.a.$20.0055 days
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ASB Visa Light Credit Card
The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months13.5% p.a.0% p.a. for 6 months22.95% p.a.$0.0055 days
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ASB Visa Platinum Rewards Credit Card
Get one True Rewards Dollar for every $100 you spend plus travel insurance for you, your spouse and your dependent children19.95%0% p.a. for 6 months22.95%$80.0055 days
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ASB Visa Rewards Credit Card
Get one True Rewards Dollar for every $150 you spend on your ASB Visa Rewards. One True Rewards Dollar equals one New Zealand dollar20.95%0.00% for 6 months22.95%$40.0055 days
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Frequently asked questions:

What is an Interest free credit card?

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.

What is a Zero interest balance transfer credit card?

A Zero Percent Interest Balance Transfer credit card is a credit card with 0% balance transfer interest rates for a fixed period of usually between 6 to 12 months. This means that you can transfer your existing credit card balance to a Zero Interest credit card and pay no interest on the balance transferred for a fixed period.

What is the difference between an Interest free credit card and an Interest free balance transfer credit card?

Put simply, an Interest free credit card is a card with a zero percent purchase rate for a fixed period whereas an Interest free balance transfer credit card is a credit card with zero percent interest on the balance transferred to the new card but not on newly incurred debt. You are also required to make your minimum repayments on the balance transferred to continue to be eligible for the zero interest on the balance transferred benefit.

Should I apply for an Interest free credit card?

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. A Zero Interest credit card might be suitable for big-ticket items.

Should I apply for a Zero-interest balance transfer card?

A Zero Interest Balance Transfer credit card might be suitable for you if you have existing credit card debt which you are struggling to pay off but keep in mind you will still need to make your minimum repayments even during the interest-free period, and importantly, if you miss any of your minimum repayments then the standard purchase rate would be applied (in most cases) to the balance you transferred.

When is an Interest free credit card NOT suitable for me?

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.

Are there any hidden fees or surprises with Interest free credit cards?

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.

Are there any Interest free credit cards in NZ with low interest rate?

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.

What is the best interest free credit card offer?

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.

Do I have to make minimum repayments each month with my 0 interest credit card?

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.

How do I apply for an Interest free credit card?

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.

What is in it for the Banks to offer Interest free credit cards?

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.

What is an interest-free period?

An interest-free period is the number of days in which purchases you make on your card does not incur any interest. After the interest-free period specified for the card, interest is charged at the purchases interest rate of the card.

Are there times when I will not get an interest-free period on purchases?

Each card is different, so please read the details carefully or call them to find out, but in general, you have to have paid off your previous balance due by the due date for you to be entitled to an interest-free period on your next purchase. So, if you have missed a payment it might be worth checking with your card provider before your next purchase.

Does the interest-free period apply to cash advances?

Interest-free periods almost always do NOT apply to cash advances, and in fact, cash advances often have a higher interest rate than the standard purchase rate.

What is the best interest free credit card in NZ?

The best credit card for you would depend on your personal circumstance and how you intend to use your credit card. We have put together a list of some of the best credit cards in New Zealand to help you find the best credit card in NZ to suit your individual needs. Alternatively, you can narrow down your search by credit card type such as low rate credit card, balance transfer, credit card reward or air nz credit card

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