Credit Cards with Interest-Free Days | Comparison

Interest-Free Days Credit Cards

One of the major benefits of a credit card is the ability to cashflow your spending. Compare cards that give you up to 62 days interest-free until you need to make the repayment.

14 reviews
100,000 bonus Qantas Points and $200 back when you spend $4,000 on eligible purchases in the first 3 months.
Earn 1 Qantas Point per $1 spent on eligible purchases up to $7,500 per statement period.
Get complimentary Overseas Travel and Medical Insurance (eligibility criteria apply) provided by Allianz Insurance.

What are interest-free day credit cards?

It makes sense to get a credit card with the longest interest-free period that you can. The delay between the purchase date and the payment due date means that you are getting an interest-free line of credit.

55 days interest free cards offer interest-free purchases during the period between the statement start date and the statement end date. But a 55 days interest free credit card does not allow you to make interest-free purchases for 55 days on every purchase. It all depends on what stage you are at in your statement cycle when you make your purchase.

What are their benefits and drawbacks?

Typically, the 55-day period includes your 30-day monthly statement period plus a further 25 days, by the end of which you are expected to pay the balance on your statement. This means you get a further three weeks to pay off your statement balance.

Failing to pay off your closing balance in full by the end of the last day of the additional 25 days (the due date) will see you forfeit your interest-free benefit for the whole of the preceding statement period, and possibly for the following statement period as well.

What does ‘up to 55 days’ actually mean?

Here is an illustration to show how statement periods and payments work with 55 days interest free credit cards. (The dates are for example purposes only.)

A 55 days interest free credit card with a statement start date of 1st November will have a statement end date of 30th November. Your payment due date, however, will be 25th December. The 25-day gap between the statement end date and the due date is the payment window. This means you can make a purchase with the card on the 2nd of November and have over 53 days to pay it back in full without paying any interest. This is the best way to enjoy the maximum interest-free period. Making a purchase on the 30th of November means you only have just over three weeks to pay back the balance in order to enjoy interest-free credit card borrowing. Purchases made in the payment window (from 1st December to 25th December) will be included in the next statement period.

Bear in mind that you cannot enjoy interest-free transactions if you do not pay your closing balance in full by the due date. This includes all your purchases, cash advances and balance transfers.

Why do some cards have fewer interest-free days?

Not all credit cards have up to 55 interest-free days. Many credit card have only 44 days interest free, so you need to be aware of the difference when you are choosing a card.

Take a look at the 55 days interest free credit cards below if you are looking for a long interest-free window between the purchase date and payment due date.

interest free days
purchase rate
annual fee
Apply
Qantas Premier Platinum Credit Card
Apply by 31 oct 19
Receive up to 120,000 bonus Qantas Points when you spend at least $1,500 each month for the first 6 months.
Reduced annual fee of $199 p.a. in the first year ($299 p.a. thereafter).
0% p.a. for 18 months on balance transfers.
More info
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55 days
interest free
(up to)
19.99% p.a.
ongoing
$199
1st year
then $299
Westpac Low Rate Credit Card
Apply by 15 oct 19
38 reviews
0% p.a. for 16 months on balance transfers. Reverts to variable cash advance rate.
Low purchase rate of 13.74% p.a..
Up to 55 days on purchases
More info
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55 days
interest free
(up to)
13.74% p.a.
ongoing
$59
ongoing
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 within the first 3 months. This offer is available to new Card Members only.
Earn 1.25 Velocity Points per $1 spent, except government bodies where you will earn 0.5 Velocity Points per $1 spent.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
More info
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55 days
interest free
(up to)
20.74% p.a.
ongoing
$375
ongoing
Suncorp Clear Options Platinum Credit Card
Apply by 31 aug 19
3 reviews
Receive up to 60,000 Bonus Reward Points when you spend $1,500 each month for six months from card approval.
0% p.a. on balance transfers for 18 months..
$49 annual fee for the first year.
More info
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55 days
interest free
(up to)
20.74% p.a.
ongoing
$49
1st year
then $129
Get 50,000 Membership Rewards points when you apply online, are approved and spend $3,000 in the first 3 months.
Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
T&Cs and eligibility criteria apply. Available to new card members only.
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55 days
interest free
(up to)
20.74% p.a.
ongoing
$395
ongoing
NAB Qantas Rewards Signature Card
Earn up to 120,000 Qantas Points. Get 90,000 points when you spend $3,000 in the first 60 days from account approval date and an additional 30,000 points on payment of second year annual fee.
Seven complimentary insurances when you make an eligible purchase.
Reduced Annual Card Fee of $295 in first year (reverts to $395 after first year).
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44 days
interest free
(up to)
19.99% p.a.
ongoing
$295
1st year
then $395
HSBC Platinum Qantas Credit Card
Apply by 31 dec 19
5 reviews
Earn 1 Qantas Point per $1 spent, up to $2,500 every month. Every $1 spent thereafter will earn 0.5 Qantas Point. (Capped at 7,500 per statement period)
0% p.a. for 12 months on balance transfers with no balance transfer fee.
No annual fee for the first year. ($79 p.a. thereafter)
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55 days
interest free
(up to)
19.99% p.a.
ongoing
$0
1st year
then $79
Transfer your other banks’ credit card balances and enjoy 0% p.a. for 14 months (reverts to cash advance rate) with no balance transfer fee.
Get additional savings with its $0 annual fee for the first year offer ($99 p.a. thereafter).
Take advantage of the promotional purchase rate of 12.99% p.a..
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55 days
interest free
(up to)
12.99% p.a.
ongoing
$0
1st year
then $99
Citi Rewards Platinum Card Points Offer
Apply by 31 jan 20
Earn up to 120,000 bonus points (Conditions apply).
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
Enjoy 0% p.a. for 15 months with 1% fee on balance transfers.
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55 days
interest free
(up to)
20.99% p.a.
ongoing
$49
1st year
then $149
American Express Qantas Business Rewards Card
Apply by 25 sep 19
120,000 bonus Qantas Points when you are approved by 25th September 2019 and spend $3,000 in 2 months.
Earn triple Qantas Points for your business when employees fly on eligible Qantas flights and pay using their American Express Qantas Business Rewards Card.
Earn 2 Qantas Points per $1 spent on Qantas products and services.
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51 days
interest free
(up to)
-
$450
ongoing
0% p.a. for 6 months on purchases.
Make purchases with NAB’s lowest interest rate card and longest interest-free period.
Low $59 p.a. annual fee.
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55 days
interest free
(up to)
6 months
0% p.a.
then 13.99%
$59
ongoing
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Q&As about Interest-Free Days Credit Cards from customers

Q: What are 55 days interest-free credit cards?

55 days interest-free credit cards give the cardholder an interest-free line of credit, provided the account balance is cleared on the due date every month. The payment due date falls approximately 25 days after the end of the billing cycle. The billing cycle is approximately 30 days long.

Q: What does ‘up to 55 days’ actually mean?

It does not mean that you get 55 days credit on every purchase.

Purchases made on the first day of the billing cycle do not have to be paid for (i.e. cleared from the account) until 55 days later. Purchases made on the last day of the billing cycle do not have to be paid for until 25 days later. So the maximum interest-free credit period for any transaction is 55 days, and the minimum is 25 days.

Q: What is the best way to use a 55 days interest-free credit card?

Pay off your account balance in full on the due date to avoid ever paying interest. Make a diary note of the due date, or set up a reminder on your computer or phone, or organise a direct debit from a bank transaction account.

Try to organise the bulk of your purchases and monthly bills so that they occur near the beginning of your credit card billing cycle, to maximise the number of interest-free days that you receive.

Q: Do all credit cards have up to 55 days interest-free?

No. Many credit cards have only 44 days interest-free. Cards with up to 44 interest-free days offer 132 fewer interest-free days every year. If your average monthly purchases are $2,000 and you keep your cash in a 4% mortgage offset account, those extra 132 days are worth $29 per year in saved interest cost. Before you apply for a new card, check to see how many interest-free days it has.

Q: Will I get 55 days interest-free if I have a balance transfer on my card?

No. Having an unpaid balance transfer on your card means that you will forfeit your interest-free days. Interest will be applied to any purchases you make, from the transaction date until they are finally cleared from your account. The same rule applies to any kind of unpaid credit card balance, unless there is an introductory zero-interest offer on purchases in place.

Q: If I can’t pay off my card account balance each month, does it matter how many interest-free days it has?

Essentially, no. If you always carry credit card debt from month to month, you’d be better off looking for a card whose primary feature is a low ongoing purchase interest rate. However, you may be able to combine both features – low interest and 55 days – in a single card, ready for the day when you finally clear your debt.

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