Best credit card sign-up bonuses

Credit card bonus points can be one of the fastest, most lucrative ways to earn a lot in one go. This makes it especially appealing if you’re already planning a big purchase or want to make your everyday spending work harder for you.

But in New Zealand, these offers are pretty rare. Only two credit cards consistently offer a bonus on sign-up, while a small handful of others have special promotions running from time to time.

In this guide, we break down the available cards, explore how these offers work, and explain how to maximise the value of your bonus without getting caught out by fees or restrictions.

What are credit card sign-up bonuses?

A credit card sign-up bonus is a one-time reward that you can earn shortly after opening a credit card account. It effectively works like a reward from the credit card company for becoming a customer.

In most cases, these offers require you to meet certain criteria, including:

• Be a new customer: To benefit, you can’t have a credit card with that provider now, or have had one at some point in the recent past (typically the last 12 to 18 months).
• Meet a minimum spend requirement: You often have to spend a certain amount on your credit card within the first three months to be eligible for the reward.
• Apply successfully: It sounds like an obvious one, but you do have to be successful in your credit card application, which means meeting its conditions around credit scores, annual income requirements, and so on.

Some credit cards also have other criteria to meet. For example, some require that you simply enter a promo code when you initially apply (although these are usually for cards that offer smaller sign-up bonuses).

Only when you meet the criteria set out by your credit card company will the bonus be credited to your account.

Cards with sign-up bonuses in New Zealand

New Zealand has a relatively small credit card market, so sign-up offers are less common here than in places like Australia or the US.

Here we look at the credit cards that currently offer a sign-up bonus in New Zealand.

American Express Airpoints Platinum Card

The American Express Airpoints Platinum card currently has the largest sign-up bonus of any credit card in New Zealand — 400 Airpoints Dollars. That’s equivalent to $400 when spent on flights with Air New Zealand, purchases through the Airpoints Store, or a selection of other ways.

To get this bonus, you’ll need to be approved in your application and spend at least $1,500 on the card within the first three months. This must be on eligible purchases, which basically includes everything with the exception of gambling and transferring money from the credit card to another account or platform (such as transferring it abroad).

Note that this is a special offer that expires on 23 May 2025. After that point, the standard rewards bonus of 300 Airpoints Dollars will apply.

Other perks of the American Express Airpoints Platinum Card

• Best Airpoints earn rate: Every $70 spent on the AMEX Airpoints Platinum will earn you 1 Airpoints Dollar, which is significantly stronger than its closest competitor.
• Travel insurance (domestic and international): Pay for your trip in full using your card or Airpoints and you’ll be covered by travel insurance — both overseas and within New Zealand. This is a standout feature, as some credit card policies (like the ANZ Airpoints Visa Platinum) only cover international travel.
• Free Priority Pass lounge access: Enjoy two complimentary visits per year to VIP airport lounges worldwide — including the Strata Lounge at Auckland Airport — with access to over 1,200 lounges globally.
• Smartphone screen cover: Get up to $500 cover for screen repairs when you’ve either bought your phone outright with the card or used it to pay for your phone plan.
• Earn Status Points: Earn 1 Status Point for every $250 spent. These points unlock travel perks like lounge access, seat upgrades, and priority service.

Cons of the AMEX Airpoints Platinum

• High annual fee: At $195 p.a., the card has one of the highest annual fees. Therefore, it’s not suitable for people who won’t take advantage of its benefits or use it regularly.

Key card details

• Annual fee: $195 p.a.
• Purchase interest rate: 22.95% p.a.
• Interest-free period: 55 days

Read our full review of the American Express Airpoints Platinum card or see how it compares to other Airpoints credit cards.

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The American Express Airpoints card

The American Express Airpoints card doesn’t match the hefty sign-up bonus of its big brother (the AMEX Airpoints Platinum card), but considering it has no annual fee, its sign-up bonus of 50 Airpoints Dollars is not to be sniffed at.

To be eligible for the reward, you must successfully apply and spend at least $750 on eligible purchases on the card within the first three months.

Other benefits of the American Express Airpoints card

• Strong Airpoints earn rate: For every $100 you spend on the card, you will earn 1 Airpoints Dollar.
• 6 months interest-free purchases: Your purchases will be interest-free for six months from the date the account is opened. If you have an outstanding balance on your account after that time, the regular interest rate will apply.

Cons of the American Express Airpoints card

• Lower Airpoints earning potential: 1 Airpoints Dollar per $100 spent is still the third-best earn rate for a credit card (and there is no annual fee). However, the earn rate is still significantly lower than that of the AMEX Airpoints Platinum card.

Read our full review of the AMEX Airpoints credit card.

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Other cards that occasionally have a sign-up bonus

While the two AMEX credit cards described above have a sign-up bonus on offer all year round, others will sometimes have a special promotion.

The Q Mastercard frequently has some kind of bonus available, even if it isn’t too impressive. Previous examples of sign-up bonuses include $50 cashback or entry into a prize draw.

But if you’re in the market for a credit card, it might be worth checking out what the Q Mastercard has to offer at the time.

The Flight Centre Mastercard and the Farmers Mastercard are both from the same provider as the Q Mastercard (the humm group). They are less likely to have a sign-up bonus promotion than the former, but again, they are still worth checking.

All three of these credit cards offer rewards on your spending, but also bear in mind that they come with high interest rates (not far off 30%), so they are only worth considering if you plan to pay off your card in full each month.

Finally, there’s the Purple Visa. Like the cards from the humm group, the Purple Visa occasionally has a bonus on sign-up. Also like those options, it’s a rewards credit card with a high interest rate.

See our guide on the best rewards credit cards for more

Tips to maximise your credit card bonus

Getting the most from a credit card bonus takes more than just signing up. To unlock the full value, you’ll need to be a little strategic about your timing, spending, and follow-through, especially for those sign-up bonus credit cards that have a requirement that you spend a certain amount within the first few months.

Here’s how to ensure you maximise the bonus without unnecessary fees or stress.

Use the card for everyday purchases

Once you have the card, make it your go-to for everyday spending (this tip only applies to those cards that have a minimum spend requirement).

Use it for your supermarket shops, filling up the car, takeaway food, and any subscriptions or services you can transfer over. This has a double benefit of ensuring you meet the minimum spend criteria and helping you earn rewards on your everyday spending.

Pay off your balance in full

To avoid erasing the value of your bonus with interest charges, make sure you pay off your full balance each month. If you don’t, the cost of interest could quickly outweigh the value of any rewards you earn.

The bonus is only worthwhile if you can clear your balance without carrying debt from month to month.

Time your application

If you think you might struggle to spend enough to meet the spend requirement, try to apply at a time when you know your spending will be higher than usual. For example, applying just before booking a trip or paying an annual insurance bill can give you a solid head start.

Avoid applying during a period where your spending is likely to be low, such as after Christmas or when you’re away on holiday. The clock starts ticking from approval (or activation, depending on the card), so you want to be ready to start using the card right away.

Are sign-up bonuses worth it?

Sign-up bonuses can offer great value, especially here in New Zealand where they’re relatively rare. Earning 400 Airpoints Dollars by spending $1,500 in three months (as with the American Express Airpoints Platinum) is a solid return, provided you were going to spend that money anyway.

But the bonus is only worth it if you stay within your regular budget and pay off your balance in full. If you overspend to meet the minimum or carry a balance, interest charges and fees can quickly outweigh the value of the reward.

It’s also important to understand what counts toward the spending requirement. Transactions like cash advances, balance transfers, and fees don’t usually qualify, and refunds can reduce your eligible spend. Missing the target by even a few dollars means you won’t get the bonus at all.

Annual fees are another factor. The bonus might cover the first year’s cost, but if you’re not getting long-term value from the card, the fee may not be worth it after that. Always reassess before the second year’s fee is charged.

Lastly, these offers are for new customers only, so you might not be eligible if you’ve had the card before, even years ago. Check the fine print or contact the provider if you’re unsure.