Personal Credit Cards

Credit cards don’t need to be complicated, we’ve broken down all the details. Pick which features are the most important to you.

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The Co-operative Bank
50565
The Cooperative Bank Fair Rate Credit Card
Purchase Rate (p.a.)

12.95% (Floating rate)

Balance Transfer

0% p.a. for 6 months

Interest Free Days

up to 55 days

You can apply for a balance transfer of up to 80% of your credit limit. This leaves you with some available credit, so you can continue to use your card for purchases and cash advances. The minimum you can transfer to is $100.

    Interest Rate Cash Advance (p.a.)12.95% (Floating rate)

    Additional Card Fee/Joint Account$5 every 6 months

    Minimum Credit Limit$1,000

    Foreign Currency Purchases2.5% of the New Zealand dollar converted value of the foreign currency transaction

    Overseas Travel Insurance-

    Payment Type-

    Other-

    More Info
    Kiwibank
    51067
    Kiwibank Zero Visa
    Purchase Rate (p.a.)

    13.95%

    Balance Transfer

    1.99% p.a. for 6 months

    Interest Free Days

    Up to 55 days

    No account fee for you and any joint or additional cardholders.

      Interest Rate Cash Advance (p.a.)13.95%

      Additional Card Fee/Joint AccountFree

      Minimum Credit Limit$500

      Foreign Currency Purchases1.85% of the New Zealand dollar amount once converted.

      Overseas Travel Insurance-

      Payment Type-

      Other-

      More Info
      ASB Bank
      53082
      ASB Visa Light
      Purchase Rate (p.a.)

      13.50%

      Balance Transfer

      0% for 6 months

      Interest Free Days

      Up to 55 days

      Our Smart Rate purchase feature, currently 0% p.a. fixed interest for six months on any purchase $1,000 or more.

        Interest Rate Cash Advance (p.a.)22.95%

        Additional Card Fee/Joint Account-

        Minimum Credit Limit$1,000

        Foreign Currency PurchasesFor overseas transactions made using your ASB Visa card Offshore Service Margins of 2.10% of the New Zealand dollar amount of the transaction are charged.

        Overseas Travel Insurance-

        Payment TypeApple Pay , Google Pay, Fitbit Pay & Garmin Pay

        Other-

        More Info
        American Express
        51059
        The American Express Airpoints Card
        Purchase Rate (p.a.)

        0% p.a. for the first 6 months reverting to 19.95% p.a. thereafter

        Balance Transfer

        -

        Interest Free Days

        Up to 55 days

        Every $100 you spend = 1 Airpoints Dollar

          Promotion Details

          50 Bonus Airpoints Dollars. Available to new Card Members only.

          Interest Rate Cash Advance (p.a.)21.95%

          Additional Card Fee/Joint AccountFree

          Minimum Credit Limit-

          Foreign Currency Purchases2.50% of transaction amount

          Overseas Travel Insurance-

          Payment Type-

          Other-

          More Info
          SBS Bank
          50563
          SBS Visa Credit Card
          Purchase Rate (p.a.)

          18.50%

          Balance Transfer

          -

          Interest Free Days

          Up to 55 days

          You'll earn $1 for every $150 spent on Eligible Transactions

            Interest Rate Cash Advance (p.a.)21.50%

            Additional Card Fee/Joint Account-

            Minimum Credit Limit-

            Foreign Currency Purchases2% of transaction value

            Overseas Travel Insurance-

            Payment TypepayWave

            Other-

            More Info
            Warehouse Money
            51069
            Purple Visa
            Purchase Rate (p.a.)

            22.90%

            Balance Transfer

            -

            Interest Free Days

            Up to 55 days

            Everytime you spend $150 on your Purple Visa Card you'll earn 1 Purple Dollar. 1 Purple Dollar = $1 NZ Dollar.

              Promotion Details

              Spend $300 or more in a single Purple Visa Card transaction at any of our Participating Retailers and automatically receive 12 Months Interest Free. Promotion is valid between 1 July 2021 and 30 June 2022.

              Interest Rate Cash Advance (p.a.)25.90%

              Additional Card Fee/Joint Account$0.00

              Minimum Credit Limit-

              Foreign Currency Purchases2.00% of transaction

              Overseas Travel Insurance-

              Payment TypepayWave

              OtherThere is a $55 One off establishment fee,.

              More Info
              Kiwibank
              51071
              Kiwibank Air New Zealand Airpoints Low Fee Visa
              Purchase Rate (p.a.)

              16.90%

              Balance Transfer

              1.99% p.a. for 6 months

              Interest Free Days

              Up to 44 days

              $160 spend = 1 Airpoints Dollar

              • As long as you have a current credit card and you’re the primary cardholder, your Airpoints Dollars will never expire.
              • Access to Air New Zealand monthly prize draws

              Interest Rate Cash Advance (p.a.)22.95%

              Additional Card Fee/Joint Account$5 per card every six months

              Minimum Credit Limit$1,000

              Foreign Currency Purchases1.85% of the New Zealand dollar amount once converted.

              Overseas Travel Insurance-

              Payment Type-

              Other-

              More Info
              Kiwibank
              51065
              Kiwibank Low Rate Visa
              Purchase Rate (p.a.)

              9.95%

              Balance Transfer

              1.99% p.a. for 6 months

              Interest Free Days

              Up to 55 days

                Interest Rate Cash Advance (p.a.)9.95%

                Additional Card Fee/Joint Account$5 per card every six months

                Minimum Credit Limit$500

                Foreign Currency Purchases1.85% of the New Zealand dollar amount once converted.

                Overseas Travel Insurance-

                Payment Type-

                Other-

                More Info
                TSB Bank
                53088
                TSB Visa Classic
                Purchase Rate (p.a.)

                18.50%

                Balance Transfer

                0% for the first 6 months

                Interest Free Days

                Up to 55 days

                  Interest Rate Cash Advance (p.a.)18.50%

                  Additional Card Fee/Joint Account$2.50 per half year for each joint/ additional card on the account

                  Minimum Credit Limit-

                  Foreign Currency Purchases2.5% of the New Zealand Dollar value of each overseas card transaction

                  Overseas Travel Insurance-

                  Payment TypeVisa payWave

                  Other-

                  More Info
                  Bank of New Zealand
                  53085
                  BNZ Lite Visa
                  Purchase Rate (p.a.)

                  12.90%

                  Balance Transfer

                  -

                  Interest Free Days

                  Up to 55 days

                    Interest Rate Cash Advance (p.a.)22.95%

                    Additional Card Fee/Joint Account$1.50 half-yearly

                    Minimum Credit Limit$500

                    Foreign Currency Purchases2.25% of the NZ dollar value on every foreign currency transaction.

                    Overseas Travel Insurance-

                    Payment TypeApple Pay & Google Pay

                    Other-

                    More Info
                    ASB Bank
                    50577
                    ASB Visa Rewards
                    Purchase Rate (p.a.)

                    20.95%

                    Balance Transfer

                    0% p.a. for 6 months

                    Interest Free Days

                    Up to 55 days

                    True Rewards: $150 = TR$1 or AA Smartfuel: $75 = 1c off per/L

                      Interest Rate Cash Advance (p.a.)22.95%

                      Additional Card Fee/Joint Account$13 Joint account fee (per person, every 6 months) $6 Additional Card (per card, every 6 months)

                      Minimum Credit Limit-

                      Foreign Currency Purchases-

                      Overseas Travel Insurance-

                      Payment TypeApple Pay , Google Pay, Fitbit Pay & Garmin Pay

                      Other-

                      More Info
                      Bank of New Zealand
                      53083
                      BNZ Advantage Classic
                      Purchase Rate (p.a.)

                      20.95%

                      Balance Transfer

                      -

                      Interest Free Days

                      Up to 55 days

                      Choose your rewards - Fly Buys points or Cash Rewards. $40 spend = 1 Flybuys point or $150 spend = $1 Cash Reward

                        Promotion Details

                        Get an extra $75 cash back or 500 Flybuys when you spend $1,500 in the first three months.

                        Interest Rate Cash Advance (p.a.)22.95%

                        Additional Card Fee/Joint Account$6 half-yearly

                        Minimum Credit Limit$500

                        Foreign Currency Purchases2.25% of the NZ dollar value on every foreign currency transaction.

                        Overseas Travel Insurance-

                        Payment TypeApple Pay & Google Pay

                        Other-

                        More Info
                        Westpac
                        50579
                        Westpac Low Rate MasterCard
                        Purchase Rate (p.a.)

                        12.90%

                        Balance Transfer

                        5.95% for the life of the balanced transfered

                        Interest Free Days

                        Up to 55 days

                          Interest Rate Cash Advance (p.a.)19.95%

                          Additional Card Fee/Joint Account$5 per year

                          Minimum Credit Limit$500

                          Foreign Currency Purchases1.4% of transaction amount

                          Overseas Travel Insurance-

                          Payment Type-

                          Other-

                          More Info
                          Kiwibank
                          51073
                          Kiwibank Air New Zealand Airpoints Standard Visa
                          Purchase Rate (p.a.)

                          20.95%

                          Balance Transfer

                          1.99% p.a. for 6 months

                          Interest Free Days

                          Up to 44 days

                          1 Airpoints Dollar for every $120 of eligible spend

                          • In light of COVID-19, single use Air New Zealand Lounge eVouchers with an original expiry date between 1 March 2020 and 28 February 2021 will be extended by six months from the original expiry date.
                          • Access to Air New Zealand monthly prize draws

                          Interest Rate Cash Advance (p.a.)22.95%

                          Additional Card Fee/Joint Account$10 per card every six months

                          Minimum Credit Limit$1,000

                          Foreign Currency Purchases1.85% of the New Zealand dollar amount once converted.

                          Overseas Travel Insurance-

                          Payment Type-

                          OtherTwo complimentary single entry Lounge eVouchers each year when you spend $30,000

                          More Info
                          ANZ Bank
                          50581
                          ANZ Low Rate Visa
                          Purchase Rate (p.a.)

                          12.90%

                          Balance Transfer

                          1.99% p.a on balances transferred for the first two years

                          Interest Free Days

                          Up to 55 days

                          With no annual fee you'll save on card fees.

                            Interest Rate Cash Advance (p.a.)19.95%

                            Additional Card Fee/Joint Account$0

                            Minimum Credit Limit$500

                            Foreign Currency Purchases1.3% of the NZ $ amount

                            Overseas Travel Insurance-

                            Payment TypeApple Pay & Google Pay

                            Other-

                            More Info
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                            How does a credit card work?

                            A credit card is an unsecured, revolving credit line, allowing you to borrow money to make purchases, up to a certain limit, based on your ability to make repayments. At the end of each billing cycle, the credit card provider sends a statement of the total amount owing for purchases for that period.

                            Unlike a debit card, where you’re using your own money to make purchases, a credit card allows you to use money owned by the credit card provider.

                             

                            • You must make a minimum payment amount each month to avoid penalty fees. If you cannot pay your credit card off in full each month the interest rate on the purchases is usually a high rate.

                            What are the features of a credit card?

                            Credit Limit

                            This is the maximum amount of money you can borrow using your credit card.

                            Interest

                            The fee you pay the credit card provider on money spent using a credit card. Interest is calculated as a percentage of the amount owing. The interest will be different depending whether you’ve used your card for purchases or cash advances.

                            Balance transfers

                            You can choose to transfer the outstanding balance of your credit card to an account held at another credit card company. The new card issuer makes this arrangement attractive to consumers by offering incentives, such as low interest rates, a temporary interest-free period, loyalty points or other incentives. The temporary interest free period is the most common incentive.

                            Reward programmes

                            A feature which adds value by offering points such as Fly Buys, Airpoints or other rewards when you use your credit card to make eligible purchases.

                            Contactless payments

                            The ability to tap your credit card against a contactless reader to complete a purchase under NZD$80. Alternatively use a compatible smartphone as a mobile wallet connected to your credit card where contactless payments are accepted.

                            How do I apply for a credit card?

                            To be eligible for a credit card, you must have a good credit history. The bank or credit card provider will want to see proof of income as well as documents to verify your identity.

                            Most providers will allow you to apply for a credit card in your own name or as a joint account. If the account is in your name only, you will be able to nominate additional cardholders who can use your line of credit. It will be up to you to repay the balance. Typical eligibility criteria are;

                            Minimum income

                            The credit card provider will need to be satisfied you can make repayments each month, over and above your other living expenses.

                            Age

                            In New Zealand, you must be at least 18 years old to apply for a credit card in your name, as this is the age you are legally considered an adult and can be liable for debt.

                            Residential status

                            You must be a citizen or permanent New Zealand resident. Some financial institutions will allow applications from people who hold a student or temporary resident visa.

                            Good credit history

                            To be eligible for a credit card, you must have a good credit history. If you have not yet accumulated any credit history, you may be eligible for a credit card with a low credit limit. As you build a credit history by using your credit card, you can apply to increase the credit limit.

                            What credit card pitfalls should I be aware of?

                            Credit cards are expensive if not paid off

                            If you don’t pay the minimum payment on your credit card in each payment cycle, expect to be charged a high interest rate as well as late fees. Your card will also be flagged at the collections department of your credit card issuer, which can create a lot of extra hassle.

                            Credit cards cannot be paid off using other credit cards

                            The balance of your credit card must be paid off with money in your bank account. Credit card providers have strict rules which will not allow you to pay off one credit card with another.

                            Don’t focus too much on the rewards

                            The incentives offered by credit card providers such as Fly Buys or Air Points rarely hold a benefit above 2% of what you spend. Don’t be tempted to overspend to try to reap the rewards.

                            Avoid withdrawing cash on your credit card

                            The interest is high and starts getting charged as soon as you make the withdrawal. Also, there could be additional fees and you won’t earn any rewards.

                            Be careful of moving your credit card debt

                            If you are being charged more than need be with your credit card provider, you may look to reduce the interest charges by transferring the balance to a new provider with an introductory offer of a low or 0% interest rate. Keep in mind the introductory interest offer will eventually run out and the debt you have transferred still needs to be paid.

                            Beware of hidden charges

                            Always reconcile your monthly statements, checking them against receipts or your own records of purchases you have made during the month. Make sure the correct amounts have been charged and keep an eye out for unexpected charges you might not need, for example, subscription or membership fees you didn’t know were still renewing.

                            Credit card checklist

                            • Pay off your balance each month

                              You can avoid interest charges by paying the entire balance of your credit card each month by the payment due date.

                            • Shop around

                              Credit card providers differ with the interest rates they charge and incentives they offer. If there is a card feature you want, ensure you have a good look at our credit cards page to get the best deal.

                            • Get your applications in order

                              Once you’ve decided to apply for a credit card, get all your documentation in order to make the application process run smoothly. You’ll need photo ID and proof of income. Check with your credit card provider about anything else they require and have the documents prepared to take with you.