ASB Credit Cards

Auckland Savings Bank (ASB) is a New Zealand bank providing credit cards, accounts, loans, insurance, investments and advisory. 
 

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If you’re considering using a credit card from ASB, check out the latest Canstar Star Ratings for their products below.

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Types of ASB credit cards

ASB has three different credit cards available for you to choose from: 

  1. ASB Visa Light
  2. ASB Visa Rewards
  3. ASB Visa Platinum Rewards 

All ASB credit cards come with Card Control, which lets you manage your ASB Visa from anywhere using online banking, as well as ASB Virtual, which lets you use your phone to make contactless payments in lieu of your card. There are also online safeguards from Visa, such as purchase protection if you don’t receive an online order.  

ASB Visa Light

The Visa Light is ASB’s most affordable card, with no account fee and a low annual interest rate making it great for everyday use by all sorts of people. The Smart Rate feature gives you a heavily discounted (as low as 0%) rate on large purchases, subject to change, and you also get interest-free balance transfers for the first six months. 

Features

  • Interest rate on purchases: 13.50% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 55 days interest-free 
  • Balance transfers: 0% p.a. for the first six months 
  • Annual fee: $0 
  • Minimum credit limit: $1,000  
  • Online: 24/7 online banking 
  • Contactless: Full contactless payments support with Visa payWave and ASB Virtual  

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ASB Visa Rewards

ASB’s Visa Rewards gives you True Rewards points, which are redeemable for all sorts of things: you can spend them at ASB’s online store, at one of many partner stores, donate their dollar value to charity, or even contribute them to your linked KiwiSaver account.

ASB KiwiSaver 

Features

  • Interest rate on purchases: 20.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Interest-free days: Up to 55 days interest-free 
  • Balance transfers: 0% p.a. for the first six months 
  • Annual fee: $40 
  • Minimum credit limit: $500  
  • Rewards: 1 True Rewards point for every $150 spent 
  • Contactless: Contactless payments with Visa payWave and ASB Virtual 
  • Online: 24/7 online banking 
  • Security: Secure online shopping via Verified by Visa, and fraud monitoring for suspicious activity 

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ASB Visa Rewards Platinum 

The Advantage Visa Platinum is an upgraded version of the ASB Advantage Classic, with improved features such as better rewards and purchase rates, insurance, and other Platinum privileges. 

  • Interest rate on purchases: 19.95% p.a. 
  • Interest rate on cash advances: 22.95% p.a. 
  • Balance transfers: 0% p.a. for the first six months 
  • Annual fee: $80 
  • Minimum credit limit: $8,000  
  • Overseas travel insurance: Up to 120 days (after 1 April 2018, this drops to 90 days), including coverage for your spouse and children. This encompasses medical evacuations, trip cancellation, lost or stolen luggage and more. Activate by paying for at least 50% of your return tickets with your ASB Visa Rewards Platinum card. 
  • Rewards1 True Rewards point for every $100 spent 
  • Contactless: Full contactless payments support with Visa Paywave and ASB Virtual  

Eligibility to apply for ASB credit cards 

To apply for any of ASB’s credit cards, you must be able to satisfy the following criteria: 

  • You must be a New Zealand resident  
  • You must be over 18 years of age  

How to apply for a ASB credit card 

If you satisfy all of the above criteria, you can apply online for a credit card through ASB FastNet Classic online banking – if you’re an existing customer – or by using the ASB website. You can also visit an ASB branch to apply in person – find your nearest branch here. The application takes less than 10 minutes, and if approved, your new card should arrive within five to seven work days. 

You will need the usual documentation to apply for a credit card, including: 

  1. Your employment details 
  2. Your annual income 
  3. Your usual living expenses 
  4. Details about assets you own such as a home, car, other belongings or savings 
  5. Any debts you currently owe on other credit cards, loans or overdrafts 

If you don’t currently have an ASB bank account, you’ll also need to provide a valid photo ID. Read our checklist on applying for a credit card for a more detailed explanation of how the process works. 

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ASB FAQs

You’ll need to activate your new credit card before you can start using it. After receiving your card, you can activate it online by logging in to either online banking or the ASB mobile app, and following the prompts.

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You can manage your ASB credit card through the company’s FastNet Classic online banking. By using ASB’s online banking service, you can make and receive payments, pay your bill, access statements and transaction details, and view all of your accounts to see how much you owe.

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When interest is charged

Interest is charged on purchases when you carry a balance on your ASB credit card, and is charged on cash advances from the date of withdrawal. Interest is calculated daily on your outstanding balance, and charged to you monthly on your regular statement.

When interest is not charged

Depending on which card you go for, up to 55 interest-free days apply to ASB credit card purchases, as long as you have paid the balance in full for the previous month’s statement and for the current month’s statement. For more information about interest-free days, check out our article on how they work.

Your credit limit for your ASB Visa credit card will be determined based on the information you provide in your application, keeping in mind the minimum credit limits available for each card, which are detailed above. If your credit history is good, you’ll likely be approved for a higher credit limit, and vice versa. Find out more about how credit limits are determined here. 

If you wish to change the credit limit on your card, you can manage it online using FastNet Classic internet banking. You can do this without any approval if you have a pre-assessed credit limit – just make the change within the app. If you can’t see a pre-assessed limit, you can submit an application form instead. You can also call ASB on 0800 803 804 or visit a branch with a valid form of photo ID. 

You can close your ASB credit card account at any time by sending a written request to your ASB branch. Your card balance will need to be repaid in full even after the card is closed, and you will continue to receive monthly statements until your card balance is fully repaid. 

If you’re cancelling your credit card with ASB because you’re struggling financially, contact its financial hardship team to find a potential solution. 

If you’re cancelling your credit card because you aren’t happy with it, then consider checking out what else is on the market by clicking the button below to compare credit cards using the Canstar website: 

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The Auckland Savings Bank (ASB) was opened in June 1847, making it the oldest savings bank in New Zealand. Today the company boats more than 1.3 million personal, business and rural customers across the nation, including more than 450,000 KiwiSaver customers. In 2017, ASB was awarded KiwiSaver Category Winner at the Morningstar Awards, being deemed the best retirement savings scheme in the country. In 2016, the bank was named ‘New Zealand Bank of the Year’ by The Banker Magazine (UK) for the twelfth time in the past 15 years, reflecting a highly successful position in the NZ market. 

ASB is active in community partnerships and sponsorships – back in 1906, the bank successfully lobbied the government to allow excess funds to be donated to community projects. ASB currently supports the St John Ambulance by selling toy sets to raise money, volunteering staff members and by running the first aid programme ASB St John In Schools. ASB also runs the ASB GetWise financial literacy programme for kids, and its various sponsorships include Auckland Lantern Festival, Ronald McDonald House, Starship Foundation and an NZ Coast Guard vessel. 

ASB Bank NZ - Visa Light

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Written by: Sam Bloom | Last updated: February 20, 2018