Skip to main content Skip to main navigation
Skip to accessibility page Skip to search input

Interest free credit card - fact or fiction?

Looking for an interest free credit card? The truth is that no credit card in Australia is interest free.

However, there are ways to pay little or no interest on your credit card, by taking advantage of promotional and interest free periods.

But remember, you’ll always be charged interest on cash advances with any Australian credit card.

Interest free balance transfers

The promotional interest free period on credit card balance transfers can be very effective in consolidating and paying down debt. However:

  • There are no interest free days on purchases while your card is carrying a balance transfer amount
  • You pay no interest on the balance transfer amount, but you do pay interest on ongoing purchases.

Keep an eye out for our 0% p.a. balance transfer offers to take advantage of this popular debt consolidation strategy.

Introductory interest free offers on purchases

Some credit cards offer an introductory interest free period on purchases.

While purchases made during this period will be interest free, be careful not to overspend, as interest accrues on any outstanding balance once any promotional period expires. After the promotional period, the rate then switches to the variable purchase rate then applicable to your card.

Be aware that these offers don’t apply to cash advances.

Interest free period on credit cards

All Westpac credit cards feature an interest free period on purchases - up to 45 or 55 days, depending on the card.

Purchases can be considered interest free as long as the card balance is paid off in full at the end of each statement cycle.

However, if you carry a balance into the next statement cycle, you will be charged interest on that amount.

As with introductory interest free offers, the interest free period does not apply to cash advances.

Compare our credit cards

  Westpac Lite Card
Low Rate
Altitude Altitude Platinum Altitude Black 55 Day 55 Day Platinum
Interest free days on purchases 45 days 55 days 45 days 45 days 45 days 55 days 55 days
  Learn more
Learn more
Learn more Learn more Learn more Learn more Learn more

See all Credit card interest rates.

Things you should know

Consumer Credit Cards - Conditions of Use (PDF 280KB)

Credit criteria, fees and charges apply. Offers are not available in conjunction with any special offers that are not listed on Switches, upgrades or Westpac group staff are ineligible. Offer may be withdrawn or extended at any time. Terms and conditions available on request.

Visit the product page for each credit card to check the terms and conditions, including any rewards terms and conditions (if relevant) that apply.

#Balance transfer promotion: This offer is available when you apply for a new Low Rate, 55 Day or 55 Day Platinum credit card between 12th June 2018 and 23rd October 2018, and request at card application to transfer balance(s) from up to 3 non-Westpac Australian issued credit, charge or store cards. A balance transfer fee of 2% (a 1% on new Low Rate Cards) of the transferred balance(s) will be charged to the account on the same day the balance(s) are debited to the account. The promotional rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for the promotional period. Activating your card triggers the processing of the balance transfer. The applicable variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period. We will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). Interest free days do not apply to credit cards with balance transfers.