Could you save with a credit card that suits your spending habits?

Co-author: Ellie McLachlan

Millions of Kiwis could be saving money by choosing a credit card better suited to their spending habits.

With a plethora of cards on offer with varying annual fees, interest rates, rewards, interest-free offers and late payment fees, it can be hard to choose wisely.

With that in mind, below we reveal some of the most outstanding value credit cards rated by Canstar in our 2018 Credit Card Star Ratings across a range of customer profiles.

Canstar’s 2018 Credit Card Star Ratings

The 2018 Canstar Credit Card Star Ratings involved a sophisticated ratings methodology, unique to Canstar, which compared personal unsecured credit cards in Australia.

The average 5-Star rated low rate credit cards’ interest rate is 13.23% compared to the low rate market average of 18.58%.

To cover the majority of card spending habits, usage behaviours (which includes line of credit and use of Frequent Flyer points), and payment patterns (whether people pay the monthly balance or the minimum), the Canstar Research team adopted four different cardholder profiles, including:

  • Low Rate: for consumers seeking a credit card with a low interest rate and flexible repayment conditions.
  • Low Fee: for consumers seeking a credit card with low ongoing fees and who may be looking to access some premium card facilities.
  • Rewards: for consumers seeking a credit or charge card that gives them the optimal return on their everyday spending.
  • Flight Rewards: for consumers seeking a credit card or charge card that will allow them to redeem points for flights.

Rewards and Frequent Flyer profiles are further broken down based on the annual purchases made on the credit card.

The annual spend amounts are $12,000, $24,000, $36,000, $60,000 and $120,000 for Rewards and Frequent Flyer cards.

Canstar Research reviewed each card based on its comparative costs and features, such as rewards programs, premium card facilities, repayment capabilities and conditions to how interest is charged.

The recipients of our 2018 Credit Card Star Ratings are listed below.

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Outstanding value credit cards

Listed in the tables below are the 5-Star rated Outstanding Value winners for each profile considered in this year’s ratings listed in alphabetical order.

Outstanding Value – Low Rate Credit Cards

The following Low Rate credit cards received a 5-Star rating in 2018:

Company Name Product Name
ASB Bank NZ Visa Light
The Co-operative Bank Fair Rate Credit Card
Source: Canstar Credit Card Star Ratings, January 2018.

Compare Low Rate Credit Cards

Outstanding Value – Low Fee Credit Cards

The following Low Fee credit cards received a 5-Star rating in 2018:

Company Name Product Name
ASB Bank NZ Visa Light
Kiwibank NZ Mastercard Zero
Source: Canstar Credit Card Star Ratings, January 2018.

Compare Low Fee Credit Cards

Outstanding Value – Rewards Credit Cards – $12,000 Annual Spend

The following Rewards credit cards, with an annual spend of $12,000, received a 5-Star rating in 2018:

Company Name Product Name
Gem Onecard Visa
Warehouse Money Purple Visa Card
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Rewards Credit Cards – $24,000 Annual Spend

The following Rewards credit cards, with an annual spend of $24,000, received a 5-Star rating in 2018:

Company Name Product Name
BNZ Advantage Visa Platinum Cash Rewards
BNZ Advantage Visa Platinum Fly Buys
Gem Onecard Visa
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Rewards Credit Cards – $60,000 Annual Spend

The following Rewards credit cards, with an annual spend of $60,000, received a 5-Star rating in 2018:

Company Name Product Name
ASB Bank NZ Visa Platinum
BNZ Advantage Visa Platinum Cash Rewards
BNZ Advantage Visa Platinum Fly Buys
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Rewards Credit Cards – $120,000 Annual Spend

The following Rewards credit cards, with an annual spend of $120,000, received a 5-Star rating in 2018:

Company Name Product Name
BNZ Advantage Visa Platinum Cash Rewards
BNZ Advantage Visa Platinum Fly Buys
Westpac hotpoints World Mastercard
Source: Canstar Credit Card Star Ratings, January 2018.

Compare Credit Card Rewards

Outstanding Value – Flight Rewards Credit Cards – $12,000 Annual Spend

The following Flight Rewards credit cards, with an annual spend of $12,000, received a 5-Star rating in October 2018:

Company Name Product Name
American Express NZ Airpoints Card
American Express NZ Platinum Edge Credit Card
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Flight Rewards Credit Cards – $24,000 Annual Spend

The following Flight Rewards credit cards, with an annual spend of $24,000, received a 5-Star rating in October 2018:

Company Name Product Name
American Express NZ Platinum Edge Credit Card
ANZ Bank NZ Airpoints Visa Platinum
Kiwibank NZ Airpoints Platinum Mastercard
Westpac NZ Airpoints Platinum Mastercard
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Flight Rewards Credit Cards – $60,000 Annual Spend

The following Flight Rewards credit cards, with an annual spend of $60,000, received a 5-Star rating in October 2018:

Company Name Product Name
American Express NZ Airpoints Platinum Card
ANZ Bank NZ Airpoints Visa Platinum
Kiwibank NZ Airpoints Platinum Mastercard
Westpac NZ Airpoints Platinum Mastercard
Source: Canstar Credit Card Star Ratings, January 2018.

Outstanding Value – Flight Rewards Credit Cards – $120,000 Annual Spend

The following Flight Rewards credit cards, with an annual spend of $120,000, received a 5-Star rating in October 2018:

Company Name Product Name
American Express NZ Airpoints Platinum Card
ANZ Bank NZ Airpoints Visa Platinum
Kiwibank NZ Airpoints Platinum Mastercard
Westpac NZ Airpoints Platinum Mastercard
Westpac NZ Airpoints World Mastercard
Source: Canstar Credit Card Star Ratings, January 2018.

Compare Flight Rewards Credit Cards

To find the card type that best suits your spending needs, it could be worth comparing credit cards on Canstar’s database.

For more information about the 2018 Credit Card Star Ratings and how they were calculated, please view the ratings methodology:

View Methodology

Compare Credit Cards

Want more finance tips?

Save money by researching home loan rates
Sign up for free to receive more news and guides, straight to your inbox.

 

By subscribing you agree to the Canstar Privacy Policy.

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