Compare credit cards

We bring you the best deals and explain what to look for when choosing the right credit card for you.

Home > Credit cards
Updated 19 January 2024

The breakdown

  • There are different types of credit cards in NZ, including balance transfer, interest-free, and rewards credit cards. Be sure to choose the right one for your needs.
  • Paying off your credit card in full each month is always the best way to save on interest and fees, and maximise rewards.
  • Credit card companies often run limited time special offers — keep an eye out and grab a great deal.
What's in this guide?
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    Author: Kevin McHugh, Head of Publishing at Banked.

    There are a number of different kinds of credit cards available, each one suitable for different uses and types of spenders. In this guide we’ll look at each, give you options to compare and explain how to get the best deal.

    If you want to learn more about how how credit cards work, check out our comprehensive guide to credit cards in New Zealand.

    Balance transfer credit cards

    A balance transfer credit card lets you to pay off another card (or cards) at a lower interest rate. This makes them a great option for those who want to pay off credit card debt.

    Some credit cards even have 0% interest balance transfer rates for 6 or even 12 months, with special promotions. If you still have a balance outstanding on the card at the end of this period, you will have to pay interest at the card’s standard purchase interest rate.

    > Learn more about balance transfer credit cards and compare the best options in our guide.

    Credit card Balance transfer offer Purchase interest rate (p.a.) Annual fee Promotions
    ASB Visa Light credit card ASB Visa Light 0% p.a. for 6 months 13.50% $0 N/A
    ANZ Low Rate Visa ANZ Low Rate Visa 1.99% p.a. for the first two years 12.90% $0 N/A
    Cooperative-bank-fair-rate-credit-card-200x128 Co-operative Bank Fair Rate 0% p.a. for 6 months 12.95% $20 N/A
    Kiwibank Zero Visa card Kiwibank Zero Visa 1.99% p.a. for 6 months 12.90% $0 N/A
    Westpac Airpoints Mastercard Westpac Airpoints Mastercard 5.95% p.a. for the life of the balance. 20.95% $70 Earn 1 Airpoints dollar for every $150 spent
    ASB Visa Platinum Rewards ASB Visa Platinum Rewards 0% p.a. for 6 months 19.95% $80 Earn $1 True Rewards dollars for every $100 spent

    Airpoints credit cards

    Credit cards that earn Air New Zealand Airpoints as you spend are some of the most popular among Kiwis – and that shows with the selection of cards on offer. There are more than 10 credit cards that let you earn Airpoints Dollars on your spend, each with different earn rates and some with bonus Airpoints Dollars on sign up.

    Earned Airpoints Dollars can be spent on a wide range of things, including flights and flight upgrades, purchases from the online Airpoints Mall, car rentals, and more.

    > Learn more and compare the best Airpoints credit cards in our guide.

    Credit card Airpoints earn rate Bonus Airpoints Interest rate (p.a.) Annual fee Promotions Learn more
    American Express Airpoints Platinum American Express Airpoints Platinum 1 Airpoints Dollar per $59 300 22.95% $195
    • Free travel insurance (overseas and domestic)
    • Free smartphone screen insurance
    • 4x airport lounge visits per year
    • 1 Status point per $250


    Read the review
    The American Express Airpoints Card American Express Airpoints 1 Airpoints Dollar per $100 50 22.95% $0
    • 6 months interest-free on purchases


    Read the review
    anz-airpoints-visa-200x128-min ANZ Airpoints Visa 1 Airpoints Dollar per $170 0 19.95% $65 None currently
    ANZ Airpoints Visa Platinum ANZ Airpoints Visa Platinum 1 Airpoints Dollar per $110 0 19.95% $150
    • 1 Status point per $250
    • Free overseas travel insurance
    Westpac Airpoints™ Mastercard Westpac Airpoints Mastercard 1 Airpoints Dollar per $150 0 20.95% $70 None currently
    Westpac Airpoints Platinum Mastercard Westpac Airpoints Platinum Mastercard 1 Airpoints Dollar per $110 0 20.95% $125
    • 1 Status point per $225
    • Free overseas travel insurance
    Westpac Airpoints World Mastercard Westpac Airpoints World Mastercard 1 Airpoints Dollar per $95 0 16.95% $310
    • 1 Status point per $225
    • Free overseas travel insurance
    Kiwibank-Air-New-Zealand-Airpoints-Low-Fee-Visa-200x128-min Kiwibank Air New Zealand Airpoints Low Fee Visa 1 Airpoints Dollar per $200 0 16.90% $50 None currently
    Kiwibank Air New Zealand Airpoints Platinum Kiwibank Air New Zealand Airpoints Platinum Visa 1 Airpoints Dollar per $115 0 20.95% $180
    • 1 Status point per $200
    • Free overseas travel insurance

    Rewards credit cards

    If Airpoints aren’t for you, other credit cards will let you earn points you can redeem on your shopping, give you discounts on your petrol, or even just give you back a percentage of how much you’ve spent.

    Rewards schemes including Flybuys, True Rewards and hotpoints all have credit cards through which you can earn when you spend.

    Rewards credit cards are a big topic so we created a separate guide for it. 

    > Compare all rewards credit cards in our guide.

    Cashback credit cards

    A cashback reward might be the most straightforward way to get rewarded for spending on your credit card. Instead of earning points that can often only be used for a limited selection of purchases, a cashback card simply refunds a portion of money you’ve spent back.

    However, there are a smaller selection of cashback credit cards than some other types and the earn rate is often not as good as some Airpoints or other rewards cards.

    > Check out our guide and compare cashback credit cards.

    Credit card Cashback earn rate Purchase interest rate (p.a.) Annual fee Benefits
    TSB Platinum Mastercard TSB Platinum Mastercard $1 for every $70 20.95% $90
    • Complimentary international and domestic travel insurance.
    • Complimentary mobile phone insurance.
    SBS Pink Ribbon credit card SBS Pink Ribbon Visa $1 for every $150 19.95% $55
    • $20 to Breast Cancer Foundation NZ for every account opened
    • SBS Bank will donate 5 cents to Breast Cancer Foundation NZ every time you use the card
    SBS Visa SBS Visa $1 for every $150 19.65% $0 None currently
    anz-cashback-visa ANZ Cashback Visa $1 for every $150 19.95% $40 None currently
    ANZ Cashback Visa Platinum ANZ CashBack Visa Platinum $1 for every $120 19.95% $80 None currently
    BNZ Advantage Visa Classic BNZ Advantage Visa Classic $1 for every $150 (via BNZ Rewards) 20.95% $40
    • Choose to earn Flybuys instead
    BNZ Advantage Visa Platinum BNZ Advantage Visa Platinum $1 for every $90 (via BNZ Rewards) 18.95% $90
    • Choose to earn Flybuys instead
    • Complimentary international travel insurance

    Credit cards with complimentary travel insurance

    A key perk for many, all of the major credit card providers offer at least one credit card that comes with complimentary travel insurance. This means there is no shortage of choice.

    These cards tend to be more premium and offer travel insurance as one of several perks. For this reason, many credit cards that offer complimentary travel insurance also offer rewards for spending on the card.

    > Compare your options below, or read our complete guide on credit cards with travel insurance to help you choose the best

    Credit card Coverage Key policy details Annual fee Other features Learn more
    American Express Airpoints Platinum American Express Airpoints Platinum International and domestic travel
    • Personal baggage: $30,000
    • Medical emergency and repatriation: $2,500,000
    • Cancellation of journey: $30,000
    $195
    • Earn Airpoints on spend
    • 300 bonus Airpoints on sign up (Ts&Cs apply)
    • Airport lounge access
    • Smartphone screen insurance


    Read the review
    American Express Gold Rewards Card American Express Gold Rewards Card International and domestic travel
    • Personal baggage: $30,000
    • Medical emergency and repatriation: $2,500,000
    • Cancellation of journey: $30,000
    $200
    • $200 cash back on sign up (Tc&Cs apply)
    • $200 dining credit annually
    • Metal card

    Read the review
    ANZ Airpoints Visa Platinum ANZ Airpoints Visa Platinum International only
    • Personal baggage: $30,000
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $150
    • Earn Airpoints
    • 50% bonus Status Points
    TSB Platinum Credit Card TSB Platinum Mastercard International and domestic travel
    • Personal baggage: $4,000
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: $10,000
    $90
    • Earn cashback
    • Mobile phone insurance
    BNZ Advantage Visa Platinum BNZ Advantage Visa Platinum International only
    • Personal baggage: $10,000
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $90
    • Earn Flybuys or BNZ Rewards
    ASB Visa Platinum Rewards ASB Visa Platinum International only
    • Personal baggage: $20,000
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $80
    • Earn True Rewards or AA Smartfuel discounts
    American Express Platinum Charge Card American Express Platinum charge card International and domestic
    • Personal baggage: $60,000
    • Medical emergency and repatriation: 20,000,000
    • Cancellation of journey: 30,000
    $1,250
    • Earn Membership Rewards Points on spend
    • 100,000 bonus Membership Rewards Points on sign up (Ts&Cs) apply
    • $300 Dining Credit a year
    • Personal concierge
    Kiwibank Air New Zealand Airpoints Platinum Kiwibank Air New Zealand Airpoints Platinum International only
    • Personal baggage: $20,000
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $90
    • Earn Airpoints on spend
    Westpac Airpoints Platinum Mastercard Westpac Airpoints Platinum Mastercard International only
    • Personal baggage: $12,500
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $125
    • Earn Airpoints on spend
    • Extended warranty insurance
    Westpac Airpoints World Mastercard Westpac Airpoints World Mastercard International only
    • Personal baggage: $12,500
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $310
    • Earn Airpoints on spend
    • Extended warranty insurance
    • Airport lounge access
    • Valet parking eVouchers
    wesptac-hotpoints-platinum-mastercard_200x128 Westpac hotpoints World Mastercard International only
    • Personal baggage: $12,500
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $285
    • Earn hotpoints on spend
    • Extended warranty insurance
    • Airport lounge access
    Westpac hotpoints Platinum Mastercard Westpac hotpoints Platinum Mastercard International only
    • Personal baggage: $12,500
    • Medical emergency and repatriation: Unlimited
    • Cancellation of journey: Unlimited
    $70
    • Earn hotpoints on spend
    • Extended warranty insurance

    Interest-free credit cards

    Interest-free, or 0% purchase credit cards let you spend on your credit card and not pay any interest for a period of time.

    Some credit cards offer 0% interest on all purchases for a period of time, usually 3 to 6 months. Others offer long-term interest free finance of up to 24 months at particular retailers.

    > Learn more and find the best interest-free credit cards deals available.

    Credit card Interest-free offer Long-term, interest free finance deals Interest rate (p.a.) Annual fee Promotions Learn more
    Gem visa Gem Visa 6 months interest free on all purchases $250 and over. Up to 2 years interest-free on purchases from brands including Target, Helloworld Travel and Mitre 10. 28.99% $55 None currently More on the Gem Visa
    q-mastercard-200x128-min Q Mastercard 3 months interest on all purchases, no minimum spend. Up to 4 years interest-free on purchases from brands including Harrisons, PB Tech and Michael Hill. 28.50% $50 Varies More on the Q Mastercard
    famers-mastercard-200x128-min Farmers Mastercard N/A Up to 2 years interest-free on purchases from brands including Farmers, JB Hi-Fi and House of Travel. 28.50% $50
    • Earn 1 Farmers Club Point per $10 spend
    More on the Farmers Mastercard
    flightcentre-mastercard-200x128-min Flight Centre Mastercard N/A Up to 2 years interest-free on purchases from brands including Flight Centre, JB Hi-Fi and Evolution Cycles. 24.99% $50
    • 1.5 Flight Centre Rewards per $100 spend
    More on the Flight Centre Mastercard
    purple-visa-200x128-min Purple Visa N/A 1 year interest free at Noel Leeming ,Torpedo 7, or The Market. Long-term finance deals also at the Warehouse 24.90% $55
    • Earn 1 Purple Dollar per $1 spend
    More on the Purple Visa

    Credit cards with no annual fee

    No-annual-fee (or ‘free’) credit cards don’t include a regular fee for having the card, as many other types of cards do.

    The trade-off is that they also typically don’t have the added reward or perks that some types of cards do (although there are exceptions).

    Credit cards with no annual fee can be a sensible choice for light users, or those who just want a card as backup.

    > Compare your options below or learn more about no-annual-fee credit cards in our full guide.

    Credit card Interest rate (p.a.) Annual fee Rewards Perks Learn more
    The American Express Airpoints Card American Express Airpoints 22.95% $0 1 Airpoints Dollar per $100 spent
    • 50 bonus Airpoints Dollars on sign up
    • 6 months interest-free on purchases


    Read the review
    ASB Visa Light credit card ASB Visa Light 13.50% $0 None
    • Balance transfer: 0% for 6 months
    Westpac Fee Free Mastercard Westpac Fee Free Mastercard 12.90% $0 None
    • Balance transfer: 5.95% for the life of the balance
    Kiwibank Zero Visa card Kiwibank Zero Visa 12.90% $0 None
    • Balance transfer: 1.99% for 6 months
    SBS Visa SBS Visa 18.5% $0 $1 cashback for every $150 spent None
    ANZ Low Rate Visa ANZ Low Rate Visa 12.90% $0 None
    • Balance transfer: 1.99% for the first 2 years

    Low rate credit cards

    Low rate cards are simply credit cards that have a lower interest rate than most other credit cards. These usually charge around 10% to 13% on purchases. Some also have a lower rate than average on cash advances. 

    It’s rare that this type of card offers rewards, but they can be a great choice if you usually don’t pay off your credit card balance in full each month.

    Which companies offer credit cards in New Zealand?

    Here is a breakdown of all companies that currently offer credit cards, and the types of cards they offer.

    CompanyCards they offer

    American Express

    American Express logo

    Offers a range of cards, from the American Express Airpoints card with no annual fee, to the top-tier, rewards-laden Platinum card.

    American Express specialises in cards that offer Airpoints Dollars and its cards have the best earn rates around.

    Our Head of Publishing found out how widely AMEX credit cards are accepted in our latest guide.

    Check out our guide to choosing the best American Express credit card.

    ANZ

    ANZ logo

    As you’d expect from the country’s biggest bank, ANZ has a selection of cards to suit most needs.

    Options include a low rate visa and a cashback rewards card.

    ASB

    ASB logo

    From the Visa Light to the Platinum Rewards Card, ASB has a good selection of cards.

    The bank has its own rewards scheme that lets customers earn and then redeem True Rewards at a number of partner stores.

    BNZ

    BNZ logo

    BNZ has 4 cards available suitable for different needs.

    Some BNZ cards let customers collect Flybuys on their spend.

    The Co-Operative Bank

    Co-operative Bank logo

    The Co-operative Bank has just one credit card available: the Fair Rate card which has a low purchase interest rate and 0% on balance transfers for 6 months.

    FlexiGroup

    Flexigroup logo

    The FlexiGroup name probably won’t sound familiar, but their card brands might. With the Farmers, Flight Centre and Q Mastercards, Flexigroup specialises in interest-free, long-term finance credit cards.

    Gem Finance

    Gem Finance logo

    Gem Finance has just one credit card available in New Zealand. The Gem Visa offers 6 months of interest-free finance on all Visa purchases over $250.

    Kiwibank

    Kiwibank logo

    New Zealand’s own Kiwibank offers cards ranging from the low rate Zero Visa with no annual fee, to the Air New Zealand Platinum Visa which lets Kiwis earn both Airpoints Dollars and Status Points.

    SBS Bank

    SBS Bank logo

    SBS has 2 credit cards available to Kiwi consumers. Both cards offer cashback and using the SBS Pink Ribbon Visa means SBS will donate money to Breast Cancer Foundation NZ.

    TSB

    TSB logo

    TSB just has the Classic credit card available, offering 0% on balance transfers for 6 months.

    Westpac

    Westpac logo

    Westpac has the widest selection of credit cards of all companies.

    The Westpac card selection covers everything from low rate and Airpoints cards, to cards with the bank’s own hotpoints rewards scheme.

    Kevin McHugh

    Kevin McHugh

    Kevin is the founder and Head of Publishing at Banked. With years of experience working in personal finance, insurance, and related areas, Kevin created Banked to help Kiwis make better financial decisions.