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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Kiwibank
56385
Kiwibank Zero Visa
Purchase Rate (p.a.)

13.95%

Balance Transfer

1.99% p.a. for 6 months from a non-Kiwibank credit card

Interest Free Days

Up to 55 days

    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
    58996
    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 Purchases-

      Overseas Travel Insurance-

      Payment Type-

      Other-

      More Info
      American Express
      56386
      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

      Earn 1 Airpoints Dollar for every $100 you spend on your Card. Gifted 50 Bonus Airpoints Dollars

        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 Purchases-

        Overseas Travel Insurance-

        Payment Type-

        Other-

        More Info
        SBS Bank
        56392
        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 Purchases-

          Overseas Travel Insurance-

          Payment Type-

          Other-

          More Info
          The Co-operative Bank
          56378
          The Cooperative Bank Fair Rate Credit Card
          Purchase Rate (p.a.)

          12.95% (Floating rate)

          Balance Transfer

          0% p.a. for 12 months

          Interest Free Days

          up to 55 days

            Promotion Details

            Right now, The Cooperative Bank are offering 0% p.a. for 12 months on balances transferred from another credit card or store card. Apply by 30 October 2020.

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

            Additional Card Fee/Joint Account$15 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
            Warehouse Money
            56408
            Purple Visa
            Purchase Rate (p.a.)

            22.90%

            Balance Transfer

            -

            Interest Free Days

            Up to 55

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

              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 Type-

              Other-

              More Info
              Kiwibank
              56384
              Kiwibank Air New Zealand Airpoints Low Fee Visa
              Purchase Rate (p.a.)

              16.90%

              Balance Transfer

              1.99% p.a. for 6 months from a non-Kiwibank credit card

              Interest Free Days

              Up to 44

              $160 spend = 1 Airpoints Dollar

                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
                56377
                Kiwibank Low Rate Visa
                Purchase Rate (p.a.)

                9.95%

                Balance Transfer

                1.99% p.a. for 6 months from a non-Kiwibank credit card

                Interest Free Days

                Up to 55

                  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
                  56390
                  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-

                    Minimum Credit Limit-

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

                    Overseas Travel Insurance-

                    Payment Type-

                    Other-

                    More Info
                    Bank of New Zealand
                    56999
                    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
                      56400
                      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$6 per card, every 6 months

                        Minimum Credit Limit$500

                        Foreign Currency Purchases-

                        Overseas Travel Insurance-

                        Payment TypeApple Pay & Google Pay

                        Other-

                        More Info
                        Bank of New Zealand
                        56401
                        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

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

                          Additional Card Fee/Joint Account$6 half-yearly

                          Minimum Credit Limit$500

                          Foreign Currency Purchases-

                          Overseas Travel Insurance-

                          Payment TypeApple Pay & Google Pay

                          Other-

                          More Info
                          Westpac
                          56382
                          Westpac Low Rate MasterCard
                          Purchase Rate (p.a.)

                          13.45%

                          Balance Transfer

                          5.95% p.a. for the life of the balance transferred

                          Interest Free Days

                          Up to 55 days

                            Promotion Details

                            $0 Annual Fee for 2 years for Westpac Low Rate Mastercard

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

                            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
                            56403
                            Kiwibank Air New Zealand Airpoints Standard Visa
                            Purchase Rate (p.a.)

                            20.95%

                            Balance Transfer

                            1.99% p.a. for 6 months from a non-Kiwibank credit card

                            Interest Free Days

                            Up to 44 days

                            1 Airpoints Dollar for every $120 of eligible spend

                              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
                              56383
                              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

                                Promotion Details

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

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

                                Additional Card Fee/Joint Account$0

                                Minimum Credit Limit-

                                Foreign Currency Purchases-

                                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.