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
    American Express
    61241
    The American Express Platinum Card
    Purchase Rate (p.a.)

    -

    Balance Transfer

    -

    Interest Free Days

    Up to 44 days

    The Platinum Card is a charge card where you pay your card off in full each month but earn great rewards. Earn 2 points for every $1 spent

    • Up to $300 Dining Credit a year at the best restaurants around NZ
    • Receive $200 to spend on travel each year through American Express Travel

    Promotion Details

    Welcome Offer: 200,000 Membership Rewards Bonus Points worth $1,500 with American Express Travel. Offer expiry date 30 May, 2022

    Interest Rate Cash Advance (p.a.)-

    Additional Card Fee/Joint Account-

    Minimum Credit Limit-

    Foreign Currency Purchases2.50% of converted amount

    Overseas Travel InsuranceBuilt-in Travel Insurance

    Payment Type-

    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
      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

        Promotion Details

        You could pay off your debt faster when you transfer a balance held elsewhere to a Westpac credit card. Choose between 0% p.a. for 6 months or 5.95% p.a. for the life of the balance(s) transferred.

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

        Additional Card Fee/Joint Account$5 per year

        Minimum Credit Limit$500

        Foreign Currency Purchases1.95% of transaction amount

        Overseas Travel Insurance-

        Payment Type-

        Other-

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

          12.90%

          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.)12.90%

            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
              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.)16.90%

              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
              Westpac
              50582
              Westpac Airpoints World Mastercard
              Purchase Rate (p.a.)

              16.95%

              Balance Transfer

              5.95% for the life of the balanced transfered

              Interest Free Days

              Up to 44 days

              Spend $50,000 or more in the 6-month period between your fee charges and we'll waive your next 6 monthly fee.

              • Earn 1 Airpoints Dollar for every $70 spent on the card. Earn one Status point for every $225 spent on the card
              • Extended Warranty Insurance of 12 months for goods purchased and Purchase Protection
              • 200 Airpoints Dollars Advance available to you if you’re a little short on what you need for a reward.
              • Access to a wide range of travel experiences with Mastercard Travel Lifestyle Services

              Promotion Details

              You could pay off your debt faster when you transfer a balance held elsewhere to a Westpac credit card. Choose between 0% p.a. for 6 months or 5.95% p.a. for the life of the balance(s) transferred.

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

              Additional Card Fee/Joint Account$100 per year ($50 every 6 months)

              Minimum Credit Limit$18,000

              Foreign Currency Purchases1.95% of transaction amount

              Overseas Travel InsuranceUp to 120 days

              Payment Type-

              Other-

              More Info
              Westpac
              50583
              Westpac hotpoints World MasterCard
              Purchase Rate (p.a.)

              16.95%

              Balance Transfer

              5.95% for the life of the balanced transfered

              Interest Free Days

              Up to 44 days

              Spend $50,000 or more in the 6-month period between your fee charges and we'll waive your next 6 monthly fee.

              • Earn 3 hotpoints for every $1 spent on your card.
              • Purchase Protection insurance cover and extended warranty insurance for your purchases
              • World Mastercard Privleged Access Program : enjoy the very best the world has to offer with an exclusive range of specially selected travel, shopping and dining experiences from across the globe

              Promotion Details

              You could pay off your debt faster when you transfer a balance held elsewhere to a Westpac credit card. Choose between 0% p.a. for 6 months or 5.95% p.a. for the life of the balance(s) transferred.

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

              Additional Card Fee/Joint AccountYour first joint or additional card is free. Supplementary cards are $100 per year ($50 every 6 months)

              Minimum Credit Limit$18,000

              Foreign Currency Purchases1.95% of transaction amount

              Overseas Travel InsuranceUp to 120 days

              Payment Type-

              Other-

              More Info
              61241 Compare 
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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.