Canstar Awards NZ’s Best Credit Cards

A credit card is an essential part of any financial toolbox. But with so many cards available, how do you find the best? Canstar’s 2022 Credit Card Awards and Star Ratings do the hard work for you, revealing NZ’s best credit cards.

BNZ logo

Bank of the Year | Credit Cards

Congratulations to BNZ, the winner of Canstar’s 2022 award for Bank of the Year | Credit Cards.

Each year, Canstar’s expert research team evaluates all the major credit cards on the market. This year, 35 cards from 11 different 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.

BNZ: Bank of the Year | Credit Cards

This year’s winner of Canstar’s Bank of the Year | Credit Cards award is the BNZ, which has been part of the country’s banking landscape for over 160 years. The bank offers three credit cards, each with a different fee, award and rewards structure:

BNZ Lite Visa

Features:

  • Up to 55 days interest free
  • Apple Pay and Google Pay compatible

Fees and charges:

  • $30 annual fee
  • Purchase interest rate: 12.90% p.a.
  • Cash advance interest rate: 22.95% p.a.

BNZ Advantage Visa Platinum

Features:

  • Choose your rewards: Cash Rewards or Flybuys
  • $90 spend = $1 Cash Reward
  • $15 spend = 1 Flybuys
  • Up to 90 days free travel insurance
  • Up to 55 days interest free
  • Concierge service

Fees and charges:

  • $90 annual fee
  • Purchase interest rate: 18.95% p.a.
  • Cash advance interest rate: 18.95% p.a.

BNZ Advantage Visa Classic

 

 

 

 

Features:

  • Choose your rewards: Cash Rewards or Flybuys
  • $150 spend = $1 Cash Reward
  • $40 spend = 1 Flybuys
  • Up to 55 days interest free

Fees and charges:

  • $40 annual fee
  • Purchase interest rate: 20.95% p.a.
  • Cash advance interest rate: 22.95% p.a.


Compare Credit Cards with Canstar

If you are looking for a new credit card, then let Canstar be your guide. Perhaps you want one with a low interest rate, or low fees, or want to swap your rewards card from points to cash. Our free credit card comparison tool compares all the major cards in the market and awards the best our prestigious Star Ratings.

The comparison table below displays some of the low rate credit cards currently available on Canstar’s database for Kiwis looking to spend around $2000 per month (some may have links to providers’ websites). The products are sorted by our latest Star Rating (highest to lowest), followed by provider name (alphabetical). Use Canstar’s credit card comparison selector to view a wider range of credit cards. Canstar may earn a fee for referrals.

Compare Credit Cards with Canstar here!


Canstar’s 5-Star Winning Credit Cards

Outstanding Value Low Rate Credit Card

Credit cards from four banks earned our 5-Star Outstanding Value Rating for their low-rate cards:

  • ANZ Bank Low Rate Visa
  • ASB Bank Visa Light
  • BNZ Lite Visa
  • The Co-operative Bank Fair Rate Credit Card

Outstanding Value Rewards Credit Card

The following rewards credit cards earned 5-Star Outstanding Value Ratings across different annual spends:

Rewards $12,000 Annual Spend

  • ANZ Bank Cashback Visa
  • SBS Bank SBS Visa

Rewards $24,000 Annual Spend

  • ANZ Bank Cashback Visa
  • BNZ Advantage Visa Platinum – Cashback Option
  • BNZ Advantage Visa Platinum – Flybuys Option

Rewards $60,000 Annual Spend

  • BNZ Advantage Visa Platinum – Cashback Option
  • BNZ Advantage Visa Platinum – Flybuys Option
  • Westpac – Hotpoints World Mastercard

Rewards $120,000 Annual Spend

  • BNZ Advantage Visa Platinum – Flybuys Option
  • Westpac Hotpoints World Mastercard

Outstanding Value Flight Rewards Credit Card

The following flight rewards credit cards earned 5-Star Outstanding Value Ratings across different annual spends:

Flight Rewards $12,000 Annual Spend

  • American Express Airpoints Card
  • American Express Platinum Edge Credit Card

Flight Rewards $24,000 Annual Spend

  • American Express Platinum Edge Credit Card
  • Westpac Airpoints Platinum Mastercard

Flight Rewards $60,000 Annual Spend

  • American Express Airpoints Platinum Card
  • Westpac Airpoints Platinum Mastercard

Flight Rewards $120,000 Annual Spend

  • American Express Airpoints Platinum Card
  • Westpac Airpoints World Mastercard

For more information on this year’s award, and to compare different credit cards for free with Canstar’s comparison tool, just click on the button below.

Check out our 2022 Credit Card Star Ratings here!


About the author of this page

Bruce PitchersThis report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.


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