Credit cards with outstanding value: Which ones right for you?

At Canstar, we regularly research New Zealand credit cards, and give them star ratings based on how they cater for borrowers across the Low Rate, Occasional Spender, Everyday Spender, and Big Spender profiles

Collectively, we love our credit cards; we have around $6.5 billion outstanding on the plastic.

Here are the providers of New Zealand credit cards that received a five-star rating for outstanding value in January’s 2016 ratings, to help you find a credit card that suits you.

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Outstanding value New Zealand credit cards for occasional spenders

American Express NZ

In the Occasional Spender profile, American Express NZ’s Air New Zealand Card offers (at time of writing) an interest rate of 19.95%, 55 interest-free days and a $25,000 maximum credit limit, and a rewards program with Airpoints – all with no annual fee.

As far as New Zealand credit cards with rewards are concerned, American Express NZ has a lot on offer: rewards for travel, retail, entertainment, and cash back on your statement charges.

American Express was founded in 1850 as an express freight company during America’s westward expansion, using the watchdog as its mascot to symbolise its trust, security, vigilance, and service. American Express launched its money order business in 1882, issued its first charge card in 1958, and now issues the world’s largest number of credit cards.

AMEX’s 24/7 customer service means they can take care of their customers’ needs no matter where in the world they live or travel. Sometimes you can’t find a credit card you’ve taken with you; it might be lost or stolen. The customer service team can even provide a replacement for a lost or stolen card within 24 hours.

Outstanding value New Zealand credit cards for occasional spenders

When it comes to supporting our local Kiwi community, American Express has been sponsoring our annual Queenstown Winter Festival for the past 25 years and fundraises for local charities and community groups.

As for protecting the environment, American Express reduced its carbon emissions by 27.5% between 2007 and 2012 and then it reduced emissions by 9% against the new 2011 baseline by 2014. In 2014, 55% of the electricity used to power American Express operations was renewably sourced, and 70% of the electricity used by their massive data centres was green power. American Express also provided over $900,000 for environment and wildlife preservation in 2014, through their Gift Matching and Serve2Gether grant programs.

What type of spender are you?

 

 Low Rate

low rate spender Someone who uses their credit card frequently every month, but struggles to pay it off in full.

Occasional Spender

 

occasional spender Someone who keeps a credit card in reserve for big ticket items, going on holidays, or in case of emergencies, and then pays off the balance over a few months.

Everyday Spender

 

everyday spender Someone who uses their card frequently every month, but is able to pay off the card in full each month.

Big Spender

big spender Someone who spends a lot on their card and always pays in full before interest is charged.

 

Find out more about spending profiles

Outstanding value New Zealand credit cards for Low Rate, Everyday Spender, Big Spenders

ANZ Bank

ANZ Bank has followed up their success in last year’s ratings by receiving a 5-star rating for outstanding value for the Low Rate, Everyday Spender, and Big Spender borrower profiles. ANZ Bank has won many Canstar awards over the years.

In the Low Rate profile, ANZ’s Low Rate MasterCard offers (at time of writing) a low interest rate of 13.49% and 55 interest-free days, with no maximum credit limit, for an annual fee of $58. The ANZ Low Rate MasterCard previously won the 5-star for outstanding value in the Low Rate profile in 2014.

In the Everyday Spender and Big Spender profiles, ANZ’s Airpoints Visa Platinum offers a great rewards program, at an interest rate of 20.95% and 44 interest-free days, with no maximum credit limit, for an annual fee of $150.

ANZ Bank has a long history, founded in 1835 in Sydney as the Bank of Australasia. Nearly 1 in 2 Kiwis have a banking relationship with one of the ANZ brands. If you live out of the city and are looking to find a credit card, it’s interesting to note ANZ is New Zealand’s largest rural banker, serving 39% of rural Kiwis.

ANZ Bank work hard to show that they care about our community and the environment. Since 1990, ANZ staff fundraised over $15 million for The Cancer Society. ANZ Bank has had carbon neutral operations since 2010.

ANZ has a wealth of financial information online, and you can also visit ANZ FutureWise, an easy-to-use online resource that helps you plan for your future retirement.

ASB Bank NZ

ASB Bank NZ was a “rising star” in our previous star ratings for the Occasional Spender profile, and this year they have solidified that standing with an impressive 5-star rating for outstanding value.

If you’re looking to find a credit card in the Low Rate and Occasional Spender profiles, ASB Bank’s Visa Low Rate card offers a low interest rate of 13.50% and 55 interest-free days, with no maximum credit limit, for an annual fee of $40.

The first Auckland Savings Bank (now ASB Bank NZ) was founded in 1847 with the oath “to serve the community, to grow, and to help Kiwis grow”. They now serve more than 1.3 million customers, and are a major sponsor of St. John’s community CPR training and the Starship Foundation for child patients and their families.

ASB Bank boasts a number of country-wide banking firsts:

  • First internet banking site (1997)
  • First no-branch bank (1997)
  • First 7-day branch (1998)
  • First to offer online share trading in both New Zealand and
  • Australian share markets (1999)
  • First mobile internet banking (1999)

ASB Bank won CANSTAR’s Innovation Excellence Award in 2014 for their Rural Environmental Compliance Loan. They also train farmers to balance productivity and sustainability in a 2-day course in partnership with Agri One Limited.

Outstanding value New Zealand credit cards for Low Rate, Everyday Spender, Big Spenders

Outstanding value New Zealand credit cards for Low Rate, Everyday Spender, Big Spenders

BNZ (Bank of New Zealand)

In 2015, BNZ won Canstar’s awards for Bank of the Year for Small Business, and Bank of the Year for Everyday Banking, as well as these 5-star ratings for outstanding value in credit cards.

In the Low Rate profile, BNZ’s Low Rate MasterCard offers a low interest rate of (at time of writing) 13.45% and 55 interest-free days, with no maximum credit limit, for an annual fee of $60.

In the Everyday Spender and Big Spender profiles, BNZ’s Advantage Visa Platinum offers a great rewards program, at an interest rate of 18.95% and 55 interest-free days, with no maximum credit limit, for an annual fee of $145.

BNZ previously won the 5-star for outstanding value in the Everyday Spender and Big Spender profiles for their Platinum Visa products.

Bank of New Zealand opened their first office in 1861 on Queen St, Auckland, and acquired the account of the Central Government from the Union Bank. BNZ is one of New Zealand’s largest Fairtrade workplaces.

BNZ created a number of country-wide banking firsts:

  • First to open a mobile banking office in a caravan (1940s)
  • First to begin granting personal loans (1940s)
  • First bank to become carbon neutral (2010)

Outstanding value New Zealand credit cards for Low Rate, Everyday Spender, Big Spenders

Kiwibank NZ

In the Low Rate profile, Kiwibank’s Low Rate MasterCard currently offers a low interest rate of 13.45% and 55 interest-free days, for an annual fee of $50.

This card previously won the 5-star for outstanding value in the Low Rate profile.

In the Occasional Spender profile, Kiwibank’s Airpoints Low Fee MasterCard, Low Rate MasterCard, and MasterCard Zero offer outstanding value, following up on their previous success. The Kiwibank Airpoints Low Fee MasterCard offers an interest rate of 16.90% and 44 interest-free days, with no maximum credit limit, for a low annual fee of $25. The Kiwibank MasterCard Zero offers an interest rate of 16.90% and 55 interest-free days, with no annual fee.

In the Everyday Spender profile, Kiwibank’s Airpoints Low Fee MasterCard and Airpoints Platinum MasterCard offer outstanding value.

In the Big Spender profile, Kiwibank’s Airpoints Platinum MasterCard offers a great rewards program, an interest rate of 20.95% and 44 interest-free days, with no maximum credit limit, for an annual fee of $150.

Kiwibank was founded in 2002 in an effort to keep New Zealanders’ money in New Zealand, and they are 100% Kiwi-owned. You can find them in more than 250 PostShops nationwide. That’s probably why they have so many customers – 800,000, in fact.

One of Kiwibank’s star innovations is Heaps!, a financial services tool that gathers the online banking information from all of your accounts to show your overall financial position, set a budget, and set savings goals.

Kiwibank has a special savings account for non-profit organisations – if you’re helping others, they want to help you. Kiwibank have won several Canstar banking awards over the years.

Find a credit card to suit your needs

Westpac NZ

In the Low Rate profile, Westpac NZ’s Low Rate MasterCard offers a low interest rate of 13.45% and 55 interest-free days, with no maximum credit limit, for an annual fee of $65. This follows their 5-star rating for this profile in 2014.

In the Everyday Spender and Big Spender profiles, Westpac NZ’s Airpoints Platinum MasterCard and hotpoints Platinum MasterCard offer outstanding value, following their 5-star success in these profiles in 2014. The Airpoints Platinum MasterCard offers an interest rate of 20.95%, for an annual fee of $145. The hotpoints Platinum MasterCard offers an interest rate of 20.95%, for an annual fee of $125.

Westpac New Zealand was born in 1861, when the Bank of NSW bought the New Zealand branch of the Oriental Bank and began business on the gold fields of Otago. They now serve over 1.3 million customers across the country, including those taking up New Zealand credit cards.

Westpac NZ supported the Canterbury rebuild, and partners with Westpac Rescue Helicopters and the NZ Blood Service to save lives. Westpac NZ promotes diversity in every aspect of business.

The predecessor of Westpac NZ, CBA New Zealand, was the first bank to lend money to women, with their “Yes, we do lend money to women” campaign in 1974. They are now our nation’s first dementia-friendly bank, to support the 2 out of 3 Kiwis whose daily lives are affected by having dementia or caring for someone with dementia.

Westpac NZ is committed to “future-proofing” our nation and our world. Their hotpoints credit card rewards program includes eco-conscious rewards. Since 2008, Westpac NZ has reduced their carbon footprint by 35%, far more than their 20% target, and they use 100% recycled plastic in their EFTPOS cards. In 2013, they partnered with Meridian Energy to launch the Solar Shed package, which gives farmers easy and affordable access to solar energy and reduce farming costs.

Find a credit card to suit your needs

Canstar congratulates all the 5-star winners in 2016! Check out the credit cards available on the Canstar database to help find a credit card to suit your needs.

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