People have different views on credit cards. Few use credit card as a back-up money source, while some think it as a loan trap. Despite different views and opinions, usages of credit cards are increasing day by day. Through this article we will explore some top credit cards which are interest free.
Credit cards offer interest-free financing in two main ways: an interest-free grace period and no-cost EMI schemes. In this article, we’ll tell you about seven of the best interest-free credit cards. Using them wisely can help you control your spending while also benefiting from benefits like cashback, rewards, and EMIs.
Credit cards typically have a grace period of 18 to 55 days, depending on when in the billing cycle you make the purchase. The grace period is divided into two parts: the billing cycle (approximately 30 days) and the additional grace period (18-25 days). For example, if the billing cycle is May 1st to May 31st, and the payment due date is June 20th, a spend made on May 2nd will be interest-free for approximately 49 days, while a spend made on May 30th will be for only 21 days.
Top 3 best interest-free credit cards:
IDFC FIRST Wealth Credit Card:
No joining or annual fee (lifetime free).
Exceptionally low monthly interest/ APR: from ~0.75% per month (≈9% p.a) in some cases.
Strong rewards & benefits on top of the low fees.
Good option if you want a card that’s “cheap” to hold and doesn’t penalise you heavily if you carry a small balance.
IDFC FIRST Millennia Credit Card:
Gives you the standard interest‐free period (approximately 48 days) when paying the full statement.
Good rewards for everyday spending.
A solid choice if you’re starting out and want a no‐fee card.
ICICI Amazon Pay Credit Card:
While the regular interest isn’t necessarily the lowest overall, this card is noted for 0% interest/0 APR for select EMI conversions on Amazon purchases.
Ideal if you often buy via Amazon and can take ad
vantage of those offers.
