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Reducing fees and interest costs

Tips to help you avoid paying unnecessary fees and interest on your credit card.

Stay within your credit limit

Make sure you’re aware of your credit limit – it’s printed at the top of your statement. Staying within your limit will help avoid paying an Over Limit fee. If you do go over your limit  you need to repay that amount before your statement is generated to avoid this fee being charged.

You can keep track of your balance at any time via ANZ Internet Banking or ANZ goMoney.

Avoid making unnecessary cash withdrawals on your credit card

  • Where you have the funds available use your EFTPOS / debit card to take a cash advance from your transaction account.
  • Don't take out cash from an ATM machine with your credit card when you have the option to buy it as a purchase with a retailer.
  • There is no interest-free period on cash advances - interest is charged until the cash advance is paid off in full. A cash advance fee may also apply – see optional service fees.

Pay on time

Paying your credit card bill on time each month means you’ll avoid late payment fees, minimise interest costs, and make the most of your interest-free period.

Check the due date on your credit card statement to find out when the payment is due by.

Setting up a Direct Debit can be a great way to avoid overdue payments. Set it up for at least the minimum amount due, but paying as much as you can or even the full amount due will help minimise interest costs.

If you’re paying from another bank, allow enough time for electronic payments to be processed before the due date – they can take up to two business days.

Make use of interest-free days

Many ANZ credit cards offer up to 44 or 55 days interest-free. This means that if you pay off your credit card balance in full each month, you can buy things on your card and pay for them up to 44 or 55 days later, interest-free.

It’s important to understand that this doesn’t mean every purchase is interest-free for 44 or 55 days.  It depends on when each purchase is made – purchases made after the statement opening date will get fewer interest-free days.


  • Interest-free days apply on purchases (not cash advances or balance transfers) and only if you pay off the closing balance in full by the due date each month.
  • Interest applies to cash advances and balance transfers immediately.

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This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.