Congratulations to TSB, the winner of Canstar's award for Bank of the Year Credit Cards for the fourth year in a row.
Each year, Canstar's expert research team evaluates all the major credit cards on the market. This year, 29 cards from 11 providers were rated using an exacting methodology. The awards and ratings are split into three main categories:
- Low Rate Cards
- Reward Cards: $12,000 | $24,000 | $60,000 | $120,000 Annual Spend
- Flight Reward Cards: $12,000 | $24,000 | $60,000 | $120,000 Annual Spend
When rating the performance of the cards, our research team judges them for features including:
- Fees/interest rates
- Premium features
- Number of interest-free days
- Reward/loyalty programs
- Standard features
- No frills benefits
The results are then condensed into a consumer-friendly five-star concept. Top-rating cards in each category are rewarded our top 5-Star awards for Outstanding Value. And the overall best credit card provider earns our prestigious Bank of the Year | Credit Cards Award.
TSB: Bank of the Year Credit Cards
For the fourth year in a row, the winner of Canstar's Bank of the Year Credit Cards Award is the TSB.
Once again our research shows that TSB leads the field in low-rate and rewards cards, plus the bank earned great feedback in our consumer satisfaction survey, encompassing over 3000 credit card users, across features including customer service, fees and online banking.
TSB's low rate card: TSB offers the lowest purchase interest rate in the market (11.95% p.a.), and leads in card features thanks to digital wallets and Apple and Google Pay.
TSB's rewards card: TSB's Platinum Mastercard delivers a competitive cashback of $1 for every $100 spent on eligible purchases, for an annual fee of $90.
TSB's award-winning credit cards
TSB's two great credit card options:
TSB Low Rate Mastercard
Features:
- Balance transfer of 0% for six months
- Mobile phone protection*
- Up to 55 days interest free
Fees and charges:
- $20 annual fee
- Additional card: $5 p.a.
- Purchase & cash advance interest rate: 11.95% p.a.
TSB Platinum Mastercard
Features:
- $1 cashback for every $100 spent on eligible purchases
- Mobile phone protection*
- Price protection*
- Purchase protection*
- Domestic & overseas travel insurance*
- Up to 55 days interest free
Fees and charges:
- $90 annual fee
- Additional card: $5 p.a.
- Purchase interest rate: 20.95% p.a.
- Cash advance interest rate: 22.95% p.a.
*Exclusions, Ts&Cs apply
Canstar's Outstanding Value credit cards
Our 5-Star credit cards deliver outstanding value, whether you're looking for a card with a low rate of interest, or one that offers great rewards, whatever your annual credit card spend.
5-Star low rate cards
Credit cards from three banks earn our 5-Star Outstanding Value Awards for their low-rate cards:
- Kiwibank Zero Visa
- TSB Low Rate Mastercard
- Westpac Fee Free Mastercard
5-Star rewards cards
The following rewards credit cards earn 5-Star Outstanding Value Awards across different annual-spend levels:
Rewards $12,000 spend
- SBS Visa
Rewards $24,000 spend
- ASB Visa Platinum
- SBS Visa
- TSB Platinum Mastercard
Rewards $60,000 spend
- ASB Visa Platinum
- BNZ Advantage Visa Platinum
- TSB Platinum Mastercard
Rewards $120,000 spend
- ASB Visa Platinum
- Westpac hotpoints World Mastercard
5-Star flight rewards cards
The following flight rewards credit cards earn 5-Star Outstanding Value Awards across different annual spends. And as you can see, it’s Amex that dominates:
Flight rewards $12,000 spend
- American Express Airpoints Card
Flight rewards $24,000 spend
- American Express Airpoints Card
Flight rewards $60,000 spend
- American Express Airpoints Platinum Card
- American Express Gold Rewards Card
Flight rewards $120,000 spend
- Westpac Airpoints World Mastercard
- American Express Gold Rewards Card
