Banks aren’t renowned for giving away money so when you see an offer for an interest free credit card make sure you take a look at the fine print.

While interest rates are at historic lows, credit card rates have been rising sharply.

Despite that the banking sector is a competitive market place and you can cut your costs.

Your best chance to get something back is to make a credit cards balance transfer. The offers listed are not for new cards they are for transferring the balance from already existing cards.

Don’t forget the offers listed below are offered only for a limited period of time. Please check the expiry dates and also remember to check out what the minimum income requirement is.

If you’re one of the rare people to have the means and the discipline to be able to clear their credit card before the 55 day interest free period expires you’re a winner.

Virgin Australia Velocity Flyer Card

There’s some good things about this Virgin Australia card offer. Minimum income to be eligible is $35,000.

0% p.a. for 14 months on purchases.

0% p.a. for 6 months on balance transfers.

No balance transfer fee.

$64 annual fee in the first year, then $129 thereafter, saving you $65.

Virgin Money is giving one lucky customer the chance to win 1 Million Velocity Points when you take out a Virgin Australia Velocity Flyer or High Flyer credit card.
Free Credit Card
$129 Virgin Australia Gift Voucher which cardholders get each year.

Earn Velocity Points on your everyday spend at the standard rate of 0.66 pt per $1 spent up to a threshold of $1,500 per month.

Personal Concierge Service.

Pay faster at the checkout using VISA payWave.

And one lucky applicant is going to win 1,000,000 Virgin frequent flyer points!

ME frank Credit Card

Recently rebranded, ME was previously ‘ME Bank’, and before that ‘Members Equity Bank’. Owned by 30 Australian industry super funds, it has a retail banking licence and is based in Melbourne but operates Australia-wide.

At 11.99% p.a. this card has one of the lowest ongoing interest rates on purchases.

Cash advances are also cheap. Interest on these are just 11.99% p.a. ongoing, with a (whatever is greater) $4 or 2% fee, which is also very low in comparison with others.

The perfect annual fee: $0 p.a.

Up to 55 days on purchases if you pay your balance off in full each month.

Purchases made in a foreign currency incur a 2.3% foreign exchange fee. Few cards are as cheap.

You can add up to 8 additional card holders. Thankfully the additional card fee is $0 p.a.

Choose from two colours: black and white, or white and black.

If you have misplaced your credit card, use 'card lock’ to put a temporary stop your card from being used.

Minimum income to qualify is $25,000 per year.

BankSA Vertigo Platinum Credit Card

The BankSA Vertigo Platinum offers 0% p.a. for 24 months on balance transfers. 1% balance transfer fee applies.

Free Credit Card

It reverts to variable cash advance rate. Add to this the lowest purchase rate of any BankSA card at 12.74% p.a. and you have a great deal. Using this card you can also benefit from up to 55 days interest free on purchases, the convenience of quick payments with Visa Paywave. You may also apply for 3 additional cardholders at no extra charge.