Credit cards with 55 days interest-free

Yvonne Taylor avatar
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Updated 2 Dec 2024   |   Rates updated regularly

Comparing of 12 credit cards with 55 days interest-free

Bankwest Breeze Mastercard

Balance transfer

24 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$49.00 p.a. ongoing

Highlights

  • Enjoy 0% p.a. interest on balance transfers for 24 months, with a 3% balance transfer fee (then 12.99% p.a. thereafter).
  • Enjoy up to 55 interest-free days on purchases.
  • Exclusive offer for new customers for a limited time. Additional charges, as well as terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 24 months.
  • Low ongoing purchase rate of 12.99% p.a.
  • Up to 55 interest-free days on purchases.

Cons

  • There are no rewards on this card.
  • There is a 3% BT fee.
Bankwest Breeze Platinum Mastercard

Balance transfer

24 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$59.00 p.a. ongoing

Highlights

  • Enjoy 0% p.a. interest on balance transfers for 24 months, with a 3% balance transfer fee (then 12.99% p.a. thereafter).
  • Benefit from up to 55 interest-free days.
  • Offer exclusively for new customers within a specified period. Additional charges, along with terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 24 months.
  • No foreign transaction fees.
  • Plus, complimentary overseas travel insurance for you and your family.

Cons

  • There is no rewards program on this card.
  • There is a 3% BT fee.
St.George Amplify Platinum Credit Card (Amplify)

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$49.00 for 1st year

Highlights

  • Earn 100,000 bonus Amplify Points upon spending $3,000 on eligible purchases within 90 days from card approval, potentially valued at up to $450 in eGift cards. Exclusions apply.
  • Enjoy a discounted annual fee of $49 p.a. for the first year ($124 p.a. annual fee thereafter).
  • Earn 1 point for every $1 spent on eligible purchases.

Pros

  • The 100,000 bonus Amplify Points.
  • Earn uncapped Amplify Points per dollar on eligible purchases.
  • Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • There is promotional balance transfer offer at the moment.
St.George Vertigo Visa

Apply by 30 April 2025

St.George Vertigo Visa

Balance transfer

24 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$55.00 p.a. ongoing

Highlights

  • Benefit from a 24-month 0% interest period on Balance Transfers, with a 1% balance transfer fee. Afterward, it switches to a cash advance rate of 21.99% p.a.
  • Enjoy a low variable interest rate of 13.99% p.a. on purchases.
  • The annual fee remains low at $55 p.a.

Pros

  • 0% p.a. for 24 months on balance transfers.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Cons

  • Balance transfer rate reverts to 21.99% p.a. after 24 months.
  • There is a 1% BT fee.
  • There is no rewards program for this card.
Bank of Melbourne Amplify Platinum Credit Card (Amplify)

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$49.00 for 1st year

Highlights

  • Earn 100,000 bonus Amplify Points upon spending $3,000 on eligible purchases within 90 days from card approval, potentially valued at up to $450 in eGift cards. Exclusions apply.
  • Enjoy a discounted annual fee of $49 p.a. for the first year ($124 p.a. annual fee thereafter).
  • Earn 1 point for every $1 spent on eligible purchases.

Pros

  • The 100,000 bonus Amplify Points.
  • Earn uncapped Amplify Points per dollar on eligible purchases.
  • Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • There is promotional balance transfer offer at the moment.
ANZ First Visa Credit Card

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 for 1st year

Highlights

  • Obtain $125 cashback upon spending $750 on eligible purchases within the initial 3 months after approval. Terms and Conditions apply.
  • Enjoy a $0 annual fee for the first year ($30 p.a. thereafter).
  • Benefit from up to 55 days interest-free on purchases by paying your account in full each month.

Pros

  • Earn a $125 cashback when you meet the criteria.
  • $0 first-year annual fee.
  • A low minimum credit limit of $1,000.

Cons

  • There are no ANZ Rewards or Qantas Points benefits.
  • There are cards with a lower ongoing purchase rate.
ANZ Rewards Platinum Credit Card

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$149.00 p.a. ongoing

Highlights

  • Obtain 100,000 bonus Reward Points and $50 cashback upon spending $2,000 on eligible purchases within the initial 3 months after approval.
  • Access a variety of complimentary insurances for both travel and purchases.
  • Accumulate ANZ Rewards Points on your everyday purchases.

Pros

  • 100,000 bonus Reward Points and a $50 cashback when you meet the criteria.
  • Earn 1.5 points per $1 spent up to $2,000 per statement period.
  • No cap on the total number of points you can earn.
  • Comes with complimentary insurance covers, including international travel insurance and purchase protection insurance.
  • ANZ Rewards points can be transferred to several airline partners, giving you booking flexibility.
  • Up to 55 days interest-free on purchases.

Cons

  • There is a $65 annual fee per additional cardholder.
  • The earn rate drops to 0.5 points per $1 after $2,000 per statement period.
  • No balance transfer offer.
  • No lounge access.
ANZ Low Rate Credit Card

Balance transfer

28 months at 0% p.a.

Purchase rate

13.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 for 1st year

Highlights

  • Enjoy 0% p.a. for 28 months on balance transfers with a 3% balance transfer fee (then reverts to 21.99% p.a.) Terms and Conditions apply.
  • First-year annual fee waived ($58 subsequently).
  • Continuous low rate of 13.74% p.a. on purchases.
  • Enjoy up to 55 days interest-free on purchases by settling your account completely each month.

Pros

  • Enjoy 0% p.a. on balance transfers up to 28 months.
  • $0 annual fee for the first year ($58 p.a. thereafter).
  • Take advantage of the low purchase interest rate of 13.74% p.a.
  • Add up to 3 additional cardholders at no extra cost.

Cons

  • No purchase or travel insurance included.
  • No rewards program.
NAB Low Rate Card

Balance transfer

28 months at 0% p.a.

Purchase rate

13.49% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 for 1st year

Highlights

  • Experience 0% p.a. on balance transfers for 28 months with a 2% balance transfer fee. Reverting to a variable cash advance rate of 21.74% p.a. after the promotional period.
  • Initial $0 annual card fee for the first year ($59 p.a. thereafter).
  • Receive a response within 60 seconds.

Pros

  • 0% p.a. on balance transfers for 28 months.
  • A variable purchase rate of 13.49% p.a.
  • The waived annual fee for the first year.
  • Additional credit card is free.

Cons

  • There is a 2% balance transfer fee.
  • No rewards program for this card.
  • No insurance coverage.
Qantas Premier Platinum Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$349.00 for 1st year

Highlights

  • Earn up to 100,000 bonus Qantas Points. Receive 70,000 bonus Qantas Points when you spend $3,000 or more on eligible purchases within 3 months from card approval. Plus an additional 30,000 bonus points if you have not earned Qantas Points with a credit card in the last 12 months. Terms and Conditions apply.
  • Enjoy 0% on Balance Transfer for 12 months with no Balance Transfer fee. Reverts to Cash Advance rate, thereafter. No interest-free days apply on retail purchases while you have a balance transfer.
  • Save with the reduced annual fee of $349 p.a. for the first year. An ongoing annual fee of $399 p.a. applies in the 2nd year.

Pros

  • Earn up to 100,000 bonus Qantas Points when you meet the criteria.
  • 0% p.a. for 12 months on balance transfers.
  • Additional savings with the $349 first-year annual fee.
  • Comes with complimentary travel insurance.

Cons

  • The annual fee increases to $399 p.a. after the initial year.
Coles Rewards Mastercard

Apply by 5 November 2024

Coles Rewards Mastercard

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$99.00 p.a. ongoing

Highlights

  • Receive 50,000 Flybuys bonus points upon spending $3,000 or more on eligible purchases within 90 days of approval. Terms and Conditions apply.
  • Earn 2 points per $1 on eligible spend—this is in addition to the regular Flybuys Points earned from other partners.
  • Pay $0 in international transaction fees for purchases made online or overseas.

Pros

  • Get 50,000 Flybuys bonus points when you meet the criteria.
  • Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
  • Access to the Coles concierge service.

Cons

  • The annual fee of $99 p.a.
  • No international travel insurance.
BOQ Platinum Visa Credit Card

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$129.00 p.a. ongoing

Highlights

  • Earn 150,000 bonus Q Rewards points when you spend $3,000 on eligible transactions in the first 90 days from approval.
  • Enjoy 0% p.a. on balance transfers for 14 months with no balance transfer fee. Reverts to cash advance rate of 21.74% p.a. after the promotional period.
  • Earn 2 Q Rewards points for every 1 dollar spent on eligible transactions.

Pros

  • Get up to 150,000 Q Rewards points when you meet the criteria.
  • 0% p.a. on balance transfers for 14 months with no balance transfer fee.
  • Get up to 4 additional cardholders at no extra cost.

Cons

  • The $129 p.a. annual fee.

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.

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 ‘up to 55 days’ actually means

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 payment window is the 25-day gap between the statement end date and the due date. 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 over three weeks to pay back the balance 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.

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.

FAQs

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.

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.

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.

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.

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

No. An unpaid balance transfer on your card means 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.

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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