Zero Interest Credit Cards in NZ

Get 0% p.a. on purchases for the first 6 months with the Amex Airpoints Credit Card, plus NO ANNUAL FEE and you earn 1 Air NZ Airpoints Dollar^TM for every $100 you spend with the Card. 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.

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*Terms and conditions apply

Updated: 25 Feb, 2025

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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.

Get 0% p.a. on purchases for the first 6 months with the Amex Airpoints Credit Card, plus NO ANNUAL FEE and you earn 1 Air NZ Airpoints Dollar^TM for every $100 you spend with the Card. 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.

More Info »

*Terms and conditions apply

Understanding Zero Interest Credit Cards

What is a Zero Interest Credit Card?

A zero interest credit card offers a promotional period during which no interest is charged on purchases, balance transfers, or both. This period typically ranges from six to 18 months. Such cards can be a valuable tool for reducing expenses, whether you aim to pay down high-interest debt or make interest-free purchases.

How Zero Interest Periods Work

During the zero interest period, you won’t incur interest charges on your balance. However, it’s crucial to understand that this is a limited-time offer. Once the promotional period ends, the regular ongoing APR will apply to any remaining balance. Therefore, it’s essential to pay off your card balance before the promotional period concludes to avoid accruing interest.

Types of Zero Interest Offers

Zero interest credit cards generally come with different types of offers:

• Purchase Offers: No interest on new purchases for a specified period.
• Balance Transfer Offers: No interest on balances transferred from other credit cards.
• Combined Offers: No interest on both new purchases and balance transfers.

By understanding the terms and choosing the right offer for your financial goals, you can make the most of a zero interest credit card.

Benefits of Zero Interest Credit Cards

Saving on Interest Payments

A credit card with a 0% APR introductory offer can be a valuable tool for reducing expenses. Whether you’re trying to pay down high-interest credit card debt or simply want to make purchases on credit without paying interest, this type of card can help you save significantly on interest payments. To get the most from the card, make sure you understand the card’s terms and pay off your card balance before the promotional period ends.

Debt Consolidation

Zero interest credit cards can also be beneficial for debt consolidation. By transferring high-interest debt from other credit cards to a zero interest card, you can simplify your payments and reduce the amount of interest you pay. This can make it easier to manage your debt and pay it off more quickly.

Financing Large Purchases

Using a 0% APR credit card offer wisely allows you to make large purchases interest-free. This can be particularly advantageous if you need to finance a significant expense, such as home improvements or a major appliance. By spreading the cost over several months without incurring interest, you can manage your budget more effectively.

Potential Drawbacks to Consider

Limited Time Offers

Zero interest credit cards often come with promotional periods that offer zero interest for a limited time. Once this period ends, the standard interest rate applies, which can be significantly higher. It is crucial to be aware of the duration of the promotional period and plan your repayments accordingly.

Post-Promotional Interest Rates

After the zero interest period ends, the interest rates can be quite high. If you have not paid off your balance by then, you could end up paying a substantial amount in interest. Always check the standard interest rate before applying for a zero interest credit card.

Impact on Credit Score

Applying for multiple credit cards in a short period can negatively impact your credit score. Additionally, if you fail to make timely payments, your credit score could suffer. It is essential to manage your credit responsibly to avoid any adverse effects on your credit rating.

How to Choose the Right Zero Interest Credit Card

Comparing Different Offers

When selecting a zero interest credit card, it is crucial to compare various offers available in the market. Look for cards that provide a 0% APR introductory offer on purchases or balance transfers, depending on your financial needs. Pay attention to the length of the introductory period, as this can vary significantly between cards. Additionally, consider any fees associated with the card, such as annual fees, balance transfer fees, and foreign transaction fees. A comprehensive comparison will help you identify the card that maximises your savings.

Reading the Fine Print

Before committing to a zero interest credit card, ensure you thoroughly read the terms and conditions. The fine print often contains essential details about the offer, including any limitations or exclusions. For instance, some cards may require you to make a minimum purchase to qualify for the 0% APR, while others might have restrictions on balance transfers. Understanding these details will prevent any unexpected surprises and help you make an informed decision.

Considering Your Financial Goals

Your financial goals should play a significant role in choosing the right zero interest credit card. If you aim to pay down high-interest debt, a card with a 0% APR on balance transfers would be ideal. Conversely, if you plan to make large purchases, look for a card offering a 0% APR on new purchases. Aligning the card’s features with your financial objectives will ensure you derive the maximum benefit from the offer.

Tips for Using Zero Interest Credit Cards Wisely

Paying Off Balances on Time

To maximise the benefits of a zero interest credit card, it is crucial to pay off your balances on time. This ensures that you do not incur any interest charges once the promotional period ends. Set up automatic payments or reminders to help you stay on track.

Avoiding New Debt

While it may be tempting to make additional purchases, it is wise to avoid accumulating new debt. Focus on paying down your existing balance to take full advantage of the zero interest period. This will help you achieve your financial goals more effectively.

Monitoring Your Spending

Keep a close eye on your spending habits to ensure you do not exceed your budget. Regularly review your statements and track your expenses. This will help you stay within your financial limits and avoid any unexpected charges.

By following these tips, you can make the most of your zero interest credit card and maintain a healthy financial status.

Common Mistakes to Avoid

Missing Payments

Failing to make timely payments can result in the loss of your zero interest offer. It is crucial to set up reminders or automatic payments to ensure you never miss a due date. Missing payments can also negatively impact your credit score.

Ignoring the End of the Promotional Period

Many cardholders overlook the end date of the promotional period. Once this period ends, the standard interest rate will apply to any remaining balance. Mark the end date on your calendar and aim to pay off the balance before this date to avoid high interest charges.

Overestimating Your Ability to Repay

It is easy to underestimate the time and effort required to pay off your balance within the zero interest period. Create a realistic repayment plan and stick to it. Consider your monthly income and expenses to determine how much you can afford to pay each month. Overestimating your repayment ability can lead to financial strain and increased debt.

Frequently Asked Questions

What is a zero interest credit card?

A zero interest credit card offers a 0% introductory annual percentage rate (APR) for a specified period, allowing you to make purchases or transfer balances without paying interest during that time.

How long does the zero interest period typically last?

The zero interest period usually lasts between six to 21 months, depending on the credit card issuer and the specific offer.

Do I still have to make monthly payments during the zero interest period?

Yes, you are still required to make at least the minimum monthly payment during the zero interest period to keep the promotional rate and avoid late fees.

What happens if I don’t pay off the balance before the zero interest period ends?

If you don’t pay off the balance before the zero interest period ends, the remaining balance will start accruing interest at the card’s standard APR, which can be significantly higher.

Can zero interest credit cards help with debt consolidation?

Yes, zero interest credit cards can be a useful tool for debt consolidation by allowing you to transfer high-interest balances to a card with a 0% introductory APR, helping you save on interest payments.

Will applying for a zero interest credit card affect my credit score?

Applying for a new credit card can result in a hard inquiry on your credit report, which may temporarily lower your credit score. However, responsible use of the card can help improve your credit score over time.