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 8 March 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.
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
|
0% p.a. for 6 months | 13.50% | $0 | N/A |
ANZ Low Rate Visa
|
1.99% p.a. for the first two years | 13.90% | $0 | N/A |
Co-operative Bank Fair Rate
|
0% p.a. for 6 months | 12.95% | $20 | N/A |
Kiwibank Zero Visa
|
1.99% p.a. for 6 months | 12.90% | $0 | N/A |
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
|
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
|
1 Airpoints Dollar per $59 | 300 | 22.95% | $195 |
|
Read the review |
American Express Airpoints
|
1 Airpoints Dollar per $100 | 50 | 22.95% | $0 |
|
Read the review |
ANZ Airpoints Visa
|
1 Airpoints Dollar per $170 | 0 | 20.95% | $65 | None currently | |
ANZ Airpoints Visa Platinum
|
1 Airpoints Dollar per $110 | 0 | 20.95% | $150 |
|
|
Westpac Airpoints Mastercard
|
1 Airpoints Dollar per $150 | 0 | 20.95% | $70 | None currently | |
Westpac Airpoints Platinum Mastercard
|
1 Airpoints Dollar per $110 | 0 | 20.95% | $125 |
|
|
Westpac Airpoints World Mastercard
|
1 Airpoints Dollar per $95 | 0 | 16.95% | $310 |
|
|
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 Visa
|
1 Airpoints Dollar per $115 | 0 | 20.95% | $180 |
|
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.
| Credit card | Cashback earn rate | Purchase interest rate (p.a.) | Annual fee | Benefits |
|---|---|---|---|---|
TSB Platinum Mastercard
|
$1 for every $70 | 20.95% | $90 |
|
SBS Visa
|
$1 for every $150 | 19.65% | $0 | None currently |
ANZ Cashback Visa
|
$1 for every $150 | 20.95% | $40 | None currently |
ANZ CashBack Visa Platinum
|
$1 for every $120 | 20.95% | $80 | None currently |
BNZ Advantage Visa Classic
|
$1 for every $150 (via BNZ Rewards) | 20.95% | $40 |
|
BNZ Advantage Visa Platinum
|
$1 for every $90 (via BNZ Rewards) | 18.95% | $90 |
|
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
If you’re looking for the right prepaid travel card, compare travel money cards with our guide.
| Credit card | Coverage | Key policy details | Annual fee | Other features | Learn more |
|---|---|---|---|---|---|
|
American Express Airpoints Platinum
|
International and domestic travel |
|
$195 |
|
Read the review |
American Express Gold Rewards Card
|
International and domestic travel |
|
$200 |
|
Read the review |
|
ANZ Airpoints Visa Platinum
|
International only |
|
$150 |
|
|
TSB Platinum Mastercard
|
International and domestic travel |
|
$90 |
|
|
|
BNZ Advantage Visa Platinum
|
International only |
|
$90 |
|
|
|
ASB Visa Platinum
|
International only |
|
$80 |
|
|
American Express Platinum charge card
|
International and domestic |
|
$1,250 |
|
|
|
Kiwibank Air New Zealand Airpoints Platinum
|
International only |
|
$90 |
|
|
|
Westpac Airpoints Platinum Mastercard
|
International only |
|
$125 |
|
|
|
Westpac Airpoints World Mastercard
|
International only |
|
$310 |
|
|
Westpac hotpoints World Mastercard
|
International only |
|
$285 |
|
|
Westpac hotpoints Platinum Mastercard
|
International only |
|
$70 |
|
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
|
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. | 29.49% | $55 | None currently | More on the Gem Visa |
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 |
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 |
|
More on the Farmers Mastercard |
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 |
|
More on the Flight Centre Mastercard |
Purple Visa
|
N/A | 1 year interest free at Noel Leeming ,Torpedo 7, or The Market. Long-term finance deals also at the Warehouse | 26.65% | $55 |
|
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 |
|---|---|---|---|---|---|
|
American Express Airpoints
|
22.95% | $0 | 1 Airpoints Dollar per $100 spent |
|
Read the review |
|
ASB Visa Light
|
13.50% | $0 | None |
|
|
Westpac Fee Free Mastercard
|
12.90% | $0 | None |
|
|
|
Kiwibank Zero Visa
|
12.90% | $0 | None |
|
|
|
SBS Visa
|
18.5% | $0 | $1 cashback for every $150 spent | None | |
|
ANZ Low Rate Visa
|
13.90% | $0 | None |
|
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.
| Company | Cards they offer |
|---|---|
American Express
| 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
| 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
| 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 has 4 cards available suitable for different needs. Some BNZ cards let customers collect Flybuys on their spend. |
The Co-Operative Bank
| 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
| 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 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
| 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 has 1 credit card available to Kiwi consumers: the SBS Visa Credit Card. The banked no longer offers the SBS Pink Ribbon Visa. |
TSB
| TSB just has the Classic credit card available, offering 0% on balance transfers for 6 months. |
Westpac
| 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. |
For more on making the most of your money, compare and find the best savings account.
