The main feature of this card is quite obviously the fact that it has up to 55 days interest free.

These interest free days only apply if you pay your monthly balance in full. If not you will be charged full interest on your purchases, calculated from the day of purchase.

It’s quite strange that Westpac would bring out a card especially created for this feature, as the majority of credit cards out there offer interest free days in conjunction with lower ongoing purchase and balance transfer rates.

The introductory interest rate on purchases is very low p.a., however this will only last for the first 5 months. After this time the purchase rate jumps p.a. There are no outstanding extra features that you can’t find on other cards, which makes this purchase interest rate seem unnecessarily high. However, it can be avoided by using up to 55 interest free days to your advantage.

The same goes for balance transfers – p.a. for the first 6 months, it will be cheap for a short period of time, but it will increase to almost 20%. So if you’re looking to transfer a credit card balance then this is not the best credit card choice.

The one good thing that can be said about this interest free period credit card is that it has a low annual fee.

So if you need to make a few large credit card purchases and your current credit card doesn’t have interest free days, or you’re just looking for a credit card to make the odd purchase on that charges a low annual fee then the Westpac 55 Day credit card is possible option for you.

See our top credit card picks in the Editor’s Choice category