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 to help you find the best interest free credit card for you.

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Updated: 20 Dec, 2024

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
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 More Info » Apply Now » No documents required to apply¹
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »
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 More Info » Apply Now »

^ 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.

Understanding Interest free Credit Cards

How do Interest free Periods Work?

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.

Common Terms and Conditions

When considering an NZ Interest free credit card, be aware of the following common terms and conditions:

Promotional Period: The length of time during which no interest is charged.
Standard Interest Rate: The interest rate that applies after the promotional period ends.
Minimum Payments: The minimum amount you must pay each month to keep the account in good standing.
Fees: Be mindful of any annual fees, late payment fees, or balance transfer fees that may apply.
Eligibility: Some cards may have specific eligibility criteria, such as a minimum income or credit score requirement.

Understanding these terms can help you make an informed decision and avoid unexpected costs.

Evaluate your Financial Needs

Analyse your Spending Habits

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.

Considering Rewards and Benefits

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.

Managing your Interest Free Credit Card

Develop a Repayment Strategy

Creating a solid repayment plan is important to avoid falling into debt. Here are some steps to help you manage your repayments effectively:

Calculate your Monthly Payments: Determine how much you need to pay each month to clear your balance before the Interest free period ends.
Set Up Automatic Payments: Automate your payments to ensure you never miss a due date.
Prioritise High-Interest Debts: If you have multiple debts, focus on paying off those with the highest interest rates first.

Avoiding Common Pitfalls

Interest free credit cards can be beneficial, but they come with risks. Here are some common pitfalls to avoid:

Making Only Minimum Payments: This can lead to a large balance when the Interest free period ends.
Ignoring Fees: Be aware of any annual or late fees that can add up quickly.
Overusing the Card: Resist the temptation to make unnecessary purchases just because you have an Interest free period.

Maximise Benefits

To get the most out of your Interest free credit card, consider these tips:

Take Advantage of Rewards: Some cards offer rewards or cashback. Use these benefits to your advantage.
Monitor Your Spending: Keep track of your expenses to ensure you stay within your budget.
Review Terms Regularly: Stay informed about any changes to your card’s terms and conditions.

Comparing NZ Interest free Credit Card Offers

Interest Rates and Fees

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.

Bonus and Reward Programs

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 and Support

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.

Alternatives to Interest Free Credit Cards

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:

Rewards Credit 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.

Frequent Flyer Credit Cards

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.

Low Interest Rate Credit Cards

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 Card NZ FAQs

What is an Interest free credit 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.

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.

Can I use an interest-free credit card for cash advances?

Using your card for cash advances is generally not covered by the interest-free period. Cash advances often incur high interest rates immediately.

What happens if I miss a payment during the interest-free period?

Missing a payment can result in losing your interest-free status and incurring late fees. Always try to make at least the minimum payment on time.

What is the best interest free credit card in NZ?

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.