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Compare the Best Credit Cards (January 2026)

Looking for a new credit card? We outline and compare the best credit cards for Balance Transfer, Rewards, Cashback, Air New Zealand Airpoints Dollars, Low Interest and Students.
Updated 14 January 2026

From cards with the lowest interest rates to those that can give you free flights, our research team analysed the market and selected the best offerings, making it easy to find the best credit card for your needs. Our categories include:
  1. ​Airpoints and Air New Zealand
  2. Balance Transfer
  3. ​Rewards and Cashback
  4. ​Small and Medium-Sized Business
  5. ​Travel and FX Rate
  6. ​Low-Interest
  7. Student​
  8. Free

Important: If you are in any doubt about your ability to repay the full balance of a credit card when it falls due, please consider avoiding credit cards altogether. The interest rates are too expensive and we want to avoid more people falling into the credit card interest debt trap, as outlined in this Stuff.co.nz column by MoneyHub's founder Christopher Walsh.

Advertising Disclaimer: MoneyHub may earn a referral bonus for anyone that’s approved through some of the links below. Our research and findings are independent of any bank, credit card issuer, or product manufacturer/service provider and have not been endorsed by any of these entities. Please see our Advertising Policy for more details about how we make money.
Start Here: Find a card based on what you spend each month
Our shortlist has you covered for rewards, cashback and free flights. If you're spending at least $500 a month on credit card-friendly merchants (e.g. supermarkets, petrol stations and everyday expenses), we list the most rewarding cards:
  • Firstly, do you struggle to pay off a credit card? If so, we suggest considering a balance transfer credit card such as the ASB Visa Light and then avoiding credit cards altogether until your finances improve. Credit cards interest is expensive, and debts can become impossible to clear. We're campaigning in the media to make people aware of the appalling costs - if you'd like to share your thoughts, please get in touch with our research team.
  • Do you spend around $500 a month? We suggest considering The American Express Airpoints Card - it costs $0/year and gives you 1 Airpoints Dollar for every $100 you spend. There is currently a bonus offer available to new card members, you can receive 50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months.
  • Do you spend between $500 and $1,500 a month? We suggest considering The American Express Airpoints Platinum Card - there is a fee of $195/year but it gives you a wide range of benefits, including 1 Airpoints Dollar for every $70 you spend. There is a bonus offer for new card members of 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. 
  • Do you spend $1,500+ a month? We suggest considering an Airpoints card (The American Express Airpoints Platinum Card leads by way of fees, rewards and benefits).
  • ​​Our guide to the Best American Express Credit Cards has more information about the cards available.

Our View: The The American Express Airpoints Platinum Card's value comes primarily from its travel benefits - three lounge visits alone cover the annual fee (valued at $180+), with the Koru membership discount (if needed), comprehensive travel insurance, and partner offers providing additional value that makes it arguably worthwhile for anyone flying 2+ times yearly, regardless of monthly spending.
What Our 2025 Credit Card Analysis Taught Us: Why Banks Are Losing and AMEX Dominates
​We analysed the current state of New Zealand credit cards following major changes at Kiwibank (which has ended its Airpoints offering) and BNZ (with a significant rewards devaluation after 1 February 2026). The findings were stark:

1) AMEX Emerged as the Clear Winner
  • American Express Airpoints Platinum Card earns 1 Airpoints Dollar per $70 spent - 50%+ more than any bank card
  • Banks now earn 1 per $110-$220 spent due to interchange fee caps that don't affect AMEX
  • The real difference in a $20,000 annual spend = 285 Airpoints (AMEX) vs 182 (ANZ) vs 91 (Westpac high spenders)
  • Get 300 bonus Airpoints with AMEX (worth 2+ domestic flights) vs zero from banks

2) The Kiwibank Exodus: An Estimated 10,000+ Cardholders Abandoned
  • Kiwibank turned off its Airpoints programme entirely in October 2025
  • Affected cardholders received generic Platinum/Zero cards with no rewards earning
  • Our Kiwibank replacement guide shows the alternatives on offer

3) BNZ's 26% Devaluation: Same Fees, Less Value
  • From February 2026, BNZ Points lose 26% of their value overnight
  • Interest-free days drop from 55 to 44, and travel insurance benefits get scaled back
  • Our BNZ replacement guide explains the options available

4) ANZ and Westpac: Racing to the Bottom
  • ANZ: Stripped lounge access, rarely offering a signup bonus, poor earn rate ($115 per Airpoint)
  • Westpac: Halves earn rate for high spenders ($220 per Airpoint after $7,000/month)
  • Both charge $125-310 annual fees for inferior benefits vs AMEX's $195

5) The Calculations Banks Hope You Don't Do
  • Lounge passes: AMEX gives 4 ($200+ value), banks give zero
  • Travel insurance: AMEX includes comprehensive cover as some banks (e.g. BNZ) are reducing the benefits they offer
  • Mobile insurance: AMEX includes up to $500; banks offer nothing
  • Status Points: AMEX, like ANZ and Westpac's Airpoints cards, earns them, helping maintain Air NZ Silver, Gold and Elite status

The Bottom Line
  • Banks have systematically degraded the value propositions of their credit cards, while AMEX, unaffected by interchange regulations, maintains premium benefits.
  • The 300 Airpoints signup bonus alone covers AMEX's annual fee, while superior earn rates deliver 50-100+ extra Airpoints annually for typical spenders.

Compare for yourself:
Our View: AMEX acceptance has reached a tipping point in 2025 - every major supermarket, petrol station and retail chain now accepts it. MoneyHub readers increasingly realise that earning 50%+ fewer rewards with bank cards no longer makes sense. We're seeing hundreds switch monthly, unwilling to leave 100+ Airpoints on the table annually. Our AMEX Airpoints Platinum Review has further details.

MoneyHub Founder Christopher Walsh shares his views on Credit Cards:

Banks (arguably) offer credit cards aggressively to their customers, but my view is that these cards don't deliver the value they should in many situations. I frequently receive complaints about poor value bank "cashback" and "reward" cards, just as I do about bank savings account interest rates (as outlined in this Stuff.co.nz column).

What's worse - interest rates average around 18% p.a. according to data published by the Reserve Bank. With over $3 billion outstanding every month, New Zealanders spend approximately $500 million a year on just servicing the interest. That's close to $1.5m a day paid out to credit card companies. Repaying credit card balances can drag on for years and I receive emails every week from everyday New Zealanders who are in a credit card debt trap - please don't let this happen to you.

My view is simple: No one should rush into a credit card application. For this reason, we've explained the cards below in detail to help your decision-making process. If you are in any doubt about what you can afford, it's likely that the best credit card for you is "no credit card".

Our video below explains what you need to know when it comes to the best credit cards available right now:
Christopher Walsh
MoneyHub Founder
Our Top Credit Cards: Proven Winners for Every Need (Airpoints, Rewards and Cashback)
We're frustrated with the low level of rewards and cashback offered by banks. We don't think being charged $40+ a year to have a rewards credit card that only gives you a $10 voucher for spending $1,500 to $2,000 is a good deal. But, sadly, it is the norm. What is somewhat helpful is the range of balance transfer offers and long-term low-interest rate cards.

Everyone's credit card needs are different, so we've shortlisted five must-consider options to make life cheaper, easier and more rewarding. Our top credit cards are as follows:

1. Best for Airpoints Members: American Express Airpoints Platinum
2. Best Free Card: American Express Airpoints Card
3. Best for Rewards & Dining: American Express Gold Rewards
  • Why it wins: Earn 2 AMEX points per $1 spent, plus get $200 in annual dining credits.
  • Perfect for: Food lovers and regular spenders who want flexible rewards.
  • Annual fee: $175 (offset by dining credits alone)
  • Apply for AMEX Gold Rewards

4. Best for Debt Transfer: Co-operative Bank Fair Rate
5. Best Low-Interest Option: Kiwibank Zero Visa
​​6. Best for Business Owners: American Express Gold Business Card
  • Why it wins: 2 points per $1 spent (double the rate of most cards), 50-day payment terms for superior cash flow, plus you can pay IRD and ACC bills via RewardPay to earn points on tax obligations.
  • MoneyHub runs on this card, which we use for 98%+ of our monthly business expenses, including online subscriptions, offline purchases, supplier payments via RewardPay, IRD bills, and more. The $95 annual fee pays for itself within weeks through the points we earn.
  • Bonus: 50,000 Membership Rewards points when you spend $1,000 in your first 2 months - worth $500+ in travel or 333 Airpoints Dollars.
  • Popular with: New Zealand businesses with $60,000+ revenue who want to turn every expense into rewards while extending payment terms.
  • Annual fee: $95 (our lowest business card fee, easily offset by rewards)
  • Apply for AMEX Gold Business Card and read our detailed card review

Know This:
  • You can apply in only a few minutes, and there is no obligation to have a credit card issued. 
  • MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. The majority of credit cards charge interest rates that can make repayments challenging to manage.
  • We previously had several buttons featuring low-interest credit cards and balance transfer credit cards. However, we don't want to encourage debt creation, so we removed them. However, you can find the best offers in their relevant section on this page.​

1. ​Best ​Airpoints and Air New Zealand Credit Cards

Air New Zealand Airpoints Credit Cards Update
  • Airpoints Alert: The AMEX Airpoints Platinum earns 57% more Airpoints than bank-branded credit cards
  • There is a limited selection of cards available; the best option for you will depend on how much you spend and how much you travel.
  • The highest earning card for Airpoints Dollars is The American Express Airpoints Platinum Card, which earns at a rate of 1 Airpoints Dollar for every $70 spent - no other card offers such an earning rate. It also offers a 300 Airpoints Dollar signup bonus.

The Best Card
  • Our pick for light spenders is the American Express Airpoints Card, which has no annual fee and earns 1 Airpoints Dollar for every $100 spent. Bank-issued credit cards earn around half the number of Airpoints per $100 spent, making them poor value in comparison:
  • ✅AMEX: $70 = 1 Airpoint
  • ​❌ ANZ: $110 = 1 Airpoint
  • ❌ Westpac: $110-220 = 1 Airpoint

Are you a Kiwibank customer?
Are you looking for an Airpoints credit card?
Are you looking for a credit card that gives you business class flights?
Our Winner: American Express Airpoints Platinum

​Our view:
  • Despite an annual fee of $195, the card is packed with features. You can review the credit card in detail here.
  • Rewards: You can spend Airpoints Dollars on gifts, food and beverage, Mitre 10 and other hardware shops, flights and thousands of other options. Our guide to redeeming Airpoints Dollars for maximum value has more details.
  • Bonus: You'll also get 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only. This sign-up bonus effectively pays for membership fee for at least the first year.
  • With the highest earning rate of Airpoints Dollars (approx 1.70 per NZ$100 spent), and a range of useful insurance and lounge perks, which can save hundreds of dollars if you use rental cars, holiday overseas and/or want the benefit from growing your Airpoints balance each month, ​as it earns 57% more Airpoints than bank-branded credit cards.
  • American Express is widely accepted around New Zealand with all supermarkets and major retailers covered.
  • Additional benefits also include mobile phone screen insurance (if you paid for your phone with an American Express) and a significant discount on the Koru Club membership.
  • In summary, we believe that the American Express Airpoints Platinum is one of the best credit cards on offer with wide appeal among many New Zealand households.
  • More details: AMEX Airpoints Platinum cardholders share honest reviews about acceptance, rewards, if the $195 annual fee is worth it and why we estimate 3,000+ New Zealand switched from bank cards to this card in 2024

The deal:
  • ​Annual Fee: $195
  • Airpoints or Membership Rewards? Airpoints
  • Annual percentage interest rate: 22.95% p.a.
  • Interest Free Period: up to 55 days
  • Be aware: To spend enough to cover the annual fee, you'll need to charge around $11.500 (to earn 195 Airpoints Dollars), or, on average, around $1,000 a month.
  • Earning: ​Every $70 you spend = 1 Airpoints Dollar, and $250 spend = 1 Status Point
  • Additional benefits: Complimentary Domestic and International Travel Insurance, four lounge passes per year (two in Auckland Airport, two for either Sydney or Melbourne) and ​complimentary Mobile phone screen insurance (if you used your AMEX to pay for the phone, up to repair costs of $500) and rental car excess insurance (up to $3,000)
  • More details: American Express Airpoints Platinum Review and American Express Free Airpoints Card vs Airpoints Platinum

Want to apply? Review the credit card in detail here (this link takes you to the American Express website)
Alternatives:
The American Express Airpoints Platinum is our Favourite Airline Credit Card in our Editor's Choice Awards. We base this on numbers, not opinion:
  • The numbers don't lie - $70 spent gives cardholders 1 Airpoints Dollar, whereas, with bank-issued platinum cards, you'll spend about double to get the same Airpoints Dollar.
  • The card also offers lounge passes (four per year), a treat that bank-issued cards discontinued in 2022 and early 2023 as part of their 'enhancements'.
  • The card is competitive for anyone needing to top up status points to renew Air NZ Gold or Gold Elite, providing a great tailwind to reach the 810/1350 point thresholds (assuming sufficient qualifying flights are taken).
  • Add in travel insurance benefits and a sign-up bonus, and it's easy to be convinced that the $195 annual fee offers a lot of value, given all the benefits and earning potential.

MoneyHub's editor Christopher Walsh says:
"Banks have scaled down what they offer regarding airline credit cards; we consider this the best Air New Zealand card, bar none, for any of the 500,000+ New Zealanders with a 'platinum' card". You can read cardholder reviews and experiences in our dedicated guide.

More details: ​American Express Airpoints Platinum Review or Apply Here
Christopher Walsh
MoneyHub Founder (and Frequent User of AMEX)
Christopher Walsh, MoneyHub Founder, shares his AMEX experience:
"In March 2025, a fraudulent transaction hit my Kiwibank Airpoints Platinum card, which meant my card was replaced. However, I had already applied for the AMEX Airpoints Platinum, drawn by its unmatched 1 Airpoints Dollar per $70 earn rate. Migrating from Kiwibank to AMEX was effortless, and acceptance of my new card has been smooth, thanks to Apple Pay and Google Pay integrating with AMEX.

The card's travel insurance, Status Points earning, and Airpoints Dollars earning rate make maintaining my Air NZ Gold status easy, especially since I book cheaper airfares well in advance, so I won't get there on flights alone. With Kiwibank now migrating my card to a low-reward option on November 1, 2025, I will likely cancel it – AMEX has been far more reliable and rewarding. I also like the AMEX app, which features live chat, a significant difference from Kiwibank's message service, which can sometimes have you waiting for a few days.

Compared to ANZ's and Westpac's Airpoints cards, AMEX's perks and earn rate are in a different league. Why settle for earning less every time you use your card? I am thrilled to have made the move".
Why AMEX Outshines ANZ and Westpac:
Card
Earn Rate
Annual Fee
Bonus Offer
Lounge Access
AMEX Airpoints Platinum
1 Airpoints Dollar/$70 spend
and
$250 = 1 Status Point
$195
300 Airpoints Dollars
​Yes (4 passes)
Westpac Airpoints Platinum Mastercard
1 Airpoints Dollar/$110 spend (then $220 after $7,000 monthly spend)
and
​$225 = 1 Status Point
$125
None
No
Westpac Airpoints World
1 Airpoints Dollar/$95 spend(then $190 after $15,000 monthly spend)
​and
​$225 = 1 Status Point
$310
​None
Yes (Priority Pass)
ANZ Airpoints Visa Platinum
1 Airpoints Dollar/$110 spend
and
Cardholders earn 50% bonus Status Points on top of the Status Points earned on qualifying flights with Air New Zealand. ​There is no Status Points per spend (unlike the other cards).
$150
None
No
AMEX Airpoints Card
1 Airpoints Dollar/$100 spend

​No Status Points
$0
50 Airpoints ​Dollars
No
What Our 2025 Credit Card Analysis Taught Us: Why Banks Are Losing and AMEX Dominates
​We analysed the current state of New Zealand credit cards following major changes at Kiwibank (which has ended its Airpoints offering) and BNZ (with a significant rewards devaluation after 1 February 2026). The findings were stark:

1) AMEX Emerged as the Clear Winner
  • American Express Airpoints Platinum Card earns 1 Airpoints Dollar per $70 spent - 50%+ more than any bank card
  • Banks now earn 1 per $110-$220 spent due to interchange fee caps that don't affect AMEX
  • The real difference in a $20,000 annual spend = 285 Airpoints (AMEX) vs 182 (ANZ) vs 91 (Westpac high spenders)
  • Get 300 bonus Airpoints with AMEX (worth 2+ domestic flights) vs zero from banks

2) The Kiwibank Exodus: An Estimated 10,000+ Cardholders Abandoned
  • Kiwibank turned off its Airpoints programme entirely in October 2025
  • Affected cardholders received generic Platinum/Zero cards with no rewards earning
  • Our Kiwibank replacement guide shows the alternatives on offer

3) BNZ's 26% Devaluation: Same Fees, Less Value
  • From February 2026, BNZ Points lose 26% of their value overnight
  • Interest-free days drop from 55 to 44, and travel insurance benefits get scaled back
  • Our BNZ replacement guide explains the options available

4) ANZ and Westpac: Racing to the Bottom
  • ANZ: Stripped lounge access, rarely offering a signup bonus, poor earn rate ($115 per Airpoint)
  • Westpac: Halves earn rate for high spenders ($220 per Airpoint after $7,000/month)
  • Both charge $125-310 annual fees for inferior benefits vs AMEX's $195

5) The Calculations Banks Hope You Don't Do
  • Lounge passes: AMEX gives 4 ($200+ value), banks give zero
  • Travel insurance: AMEX includes comprehensive cover as some banks (e.g. BNZ) are reducing the benefits they offer
  • Mobile insurance: AMEX includes up to $500; banks offer nothing
  • Status Points: AMEX, like ANZ and Westpac's Airpoints cards, earns them, helping maintain Air NZ Silver, Gold and Elite status

The Bottom Line
  • Banks have systematically degraded the value propositions of their credit cards, while AMEX, unaffected by interchange regulations, maintains premium benefits.
  • The 300 Airpoints signup bonus alone covers AMEX's annual fee, while superior earn rates deliver 50-100+ extra Airpoints annually for typical spenders.

Compare for yourself:
Our View: AMEX acceptance has reached a tipping point in 2025 - every major supermarket, petrol station and retail chain now accepts it. MoneyHub readers increasingly realise that earning 50%+ fewer rewards with bank cards no longer makes sense. We're seeing hundreds switch monthly, unwilling to leave 100+ Airpoints on the table annually. Our AMEX Airpoints Platinum Review has further details.
Consider Switching Today
With Kiwibank’s Airpoints cards gone and ANZ's and Westpac’s cards falling short, AMEX Airpoints Platinum is the clear winner. Apply Now and receive 300 bonus Airpoints and read our review of the card. You can also read AMEX Airpoints Platinum Cardholder Testimonials and Facts for a better understanding.

2. Best Balance Transfer Credit Card

Our view: The Co-operative Bank's credit card charges an annual fee of $20 and offers an attractive long-term low interest rate. 

​The deal:
  • Interest rate: 0% for 6 months, then 12.95% afterwards
  • Annual fee: $20 ($10 every six months)
  • Balance transfer fee: None
  • Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)

​What you need to know:
  1. You can't transfer a balance from another The Co-operative Bank card.
  2. The minimum credit limit is $1,000. The minimum balance transfer amount is $100, and the balance transfer amount can't be above 80% of your credit limit.
  3. After the 0% ends, it's 12.95% interest on any remaining transferred debt until it’s paid off.
  4. Don't spend/withdraw cash on this card, the interest rate for new purchases is 12.95%
  5. You can only transfer from another card once, but you can consolidate multiple cards in one balance transfer.
  6. For more details or to apply, visit the co-operative bank's website. 

Want more options? Read our Review of Balance Transfer Credit Cards for the best deals now available.

MoneyHub in the news: Read our Balance Transfer feature in Stuff.co.nz
Worth Considering: Low Interest Rate, Balance Transfer Options and Zero Fees - Westpac Fee Free Mastercard

Our View: An excellent offering with zero annual fees, zero overseas FX fees and a low interest rate.

​The deal:
  • Interest rate: 12.90% p.a. 
  • Annual fee: $0
  • Balance transfer offer: 5.95% for the life of the balance
  • Monthly payments: Must be above the monthly minimum (either 2% or $5 of the balance owing - whichever is greater)
  • For more details or to apply, visit Westpac's website. 
Another Option: ASB Visa Light

​Our view: ASB offers a 0% balance transfer deal, with six months available to clear the balance and improve your financial habits. After six months, the annual interest charge increases to 13.50%. You must request a balance transfer in the first 30 days to get the 0% interest period, and you can't transfer a balance from another ASB card.

The deal:
  • Interest rate: 0% p.a. for six months, thereafter 13.50% p.a. 
  • Annual fee: $0
  • Interest-Free Offers on Purchases: Yes, 6 months interest-free on purchases over $1,000
  • ​Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)

Want to apply? Review the credit card in detail here (this link takes you to ASB's website)
Another Option: ANZ Low Rate Visa

Our view: The ANZ offers an attractive balance transfer for short-term debt with no annual fee in the first year. You'll need to pay the balance off within 24 months to avoid the 9.95%* interest rate being charged on the remaining balance. 

​The deal:
  • Interest rate: 1.99% for 24 months, then 13.90% afterwards
  • Annual fee: $0 for the first year, then $35 every year afterwards (charged at $17.50 every six months)
  • Balance transfer fee: none
  • Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)
  • You need to transfer a balance in the first 30 days to get the 0% interest period.
  • You can't transfer a balance from another ANZ card.
  • After the 0% ends, it's 9.95% interest on any remaining transferred debt until it’s paid off.
  • Don't spend/withdraw cash on this card, the interest rate for new purchases is 9.95%

Want to apply? Review the credit card in detail here (this link takes you to ANZ's website)

3. Best Rewards and Cashback Credit Cards

For general rewards and cashback we have shortlisted three cards:

a) Our pick for the best rewards card (for average to high earners who pay their credit card in full every month):

For a top-earning rewards card that has near-endless reward options, we suggest considering the American Express Airpoints Platinum card. The fee is $195/year, and it earns 1 Airpoints Dollar for every $70 spend (the best rate in New Zealand). It also offers status points, lounge access and other travel and insurance perks. You can spend Airpoints Dollars on gifts, food and beverage, Mitre 10 and other hardware shops, flights and thousands of other options. Bonus offer: 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

b) Our pick for the best cashback (for average to high earners who pay their credit card in full every month): For pure cashback, we suggest considering the SBS Visa Credit Card, which gives you 67 cents for every $100 you spend on the card with no annual fee. You don't need to be a SBS Bank customer either. The TSB Platinum Mastercard offers 1 cent for every $1 spent but has a $90 annual fee, so you'll need to spend around $6,300 to earn enough cashback to offset the annual fee.

c) Our pick for the best cashback and general rewards (for high earners, business owner etc.): Do you spend $5,000+ a month, own a (profitable) business and/or charge back a lot of work-related expenses? If so, we suggest considering the top-tier American Express Platinum Charge Card, a unique and rewarding option. However, the card fee is not cheap ($1,250/year fee) but cardholders enjoy extensive reward, travel, hotel, dining and insurance benefits. If you're a business owner, the annual fee is tax deductible while the benefits/rewards are not subject to fringe benefit tax. As a background, 200 points = $1 of statement credit (i.e. cashback on your spend), and cardholders earn 2 points per $1 spent.
The American Express Gold Rewards Card

The Basics:
  • This is a dining credit and rewards card combined - unique in New Zealand. Cardholders choose between a pink or gold metal card when applying.
  • Dining credit: $200 free statement credit per year if you dine out at selected restaurants: American Express has a number of dining partners throughout New Zealand. If you visit them and spend over $100 on one bill, you’ll get $100 credited to your statement. The dining credit resets every six months.
  • Rewards: Cardholders earn 2 Membership Reward Points per $1 spent. This means that an annual card spend of around $25,000 will earn 50,000 Membership Reward Points. This can be converted to 333 Airpoints Dollars, $375 of travel credit (bookable via American Express Travel) or around $250 credit on your card costs (52,000 Membership Rewards points).

​The Need-to-knows:
  • Interest rate: 22.95% p.a
  • Interest-free days: 55
  • Annual fee: $200, billed annually
  • Bonus offer: $200 statement credit when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only. This one-off bonus statement credit is in addition to the annual dining statement credit.
  • Bonus/Rewards: The American Express Gold Rewards Card earns at a rate of 2 American Express Membership Reward points for every $1 spent. You can use Membership Reward points to pay for travel with American Express directly, or you can convert them to other airline and hotel programs. As a background, 150 Membership Rewards points = 1 Air New Zealand Airpoints Dollar while 2 Membership Rewards points = 1 Qantas Frequent Flyer Point.
  • More details: American Express Gold Rewards Card
The SBS Visa

The Basics:
  • The only free credit card offering cashback, you'll get back 67 cents for every $100 you spend on the card.
  • The higher-than-average interest rate is best avoided by anyone who struggles to pay off their monthly balance.

​The Need-to-knows:
  • Interest rate: 19.65% p.a
  • Interest-free days: 55
  • Bonus/Rewards: $1 Cashback for every $150 spent on the card
  • Monthly payments: Must be above the monthly minimum (either 5% or $10 of the closing balance owing - whichever is greater)
  • More Details: SBS Visa
The TSB Platinum Mastercard

The Basics:
  • A premium card that offers $1 cashback for every $70 spent (equating to 1.42 cents per $1 spent).

​The Need-to-knows:
  • Interest rate: 20.95% p.a
  • Interest-free days: 55
  • Bonus/Rewards: $1 Cashback for every $100 spent on the card. Alongside travel insurance and purchase protection, Mobile Phone Protection is also a benefit; when you pay your monthly mobile phone bill using your card, you may qualify for mobile phone insurance for accidental damage or theft.
  • Monthly payments: Must be above the monthly minimum (either 5% or $10 of the closing balance owing - whichever is greater)
  • More Details: TSB Platinum Mastercard
ASB VISA Rewards

​Our View: Forget the high-end rewards such as Samsung phones - no one is going to spend $300,000 to earn one - and focus on the small rewards. Kiwis spending a standard amount on their credit card every month can redeem cashback earnings through a wide selection of "partner stores". 

​The Deal:
  • Earning rate: 1 "True Rewards Dollar" per $150 spent.
  • Rewards: $1 of rewards value per $150 spent  (calculated at 67 cents per $100 spent). Rewards can only be redeemed at partner stores and not taken off a credit card bill directly.
  • Interest rate: 20.95% p.a.
  • Annual fee: $40 ($20 charged every six months)
  • Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)
  • True Rewards dollars will expire once they reach the 5th year from when they were earned. As you redeem True Rewards dollars, the oldest ones will be used first.​
  • Redemptions: Merchandise and voucher rewards start from 20 True Reward Dollars, with retailer partners including Mobil, Farmers, House of Travel, Vodafone top-up - all options are found at the True Reward partner store.
  • Important: ASB has launched Everyday Rewards, in addition to the existing True Rewards. Customers can choose to earn either True Rewards or Everyday Rewards with the ASB Visa Rewards or ASB Platinum Rewards cards. More information can be found on the ASB website.

Want to apply? Review the credit card in detail here (this link takes you to ASB's website).

Want more options? Read our Review of Reward and Cashback Credit Cards for the best deals available now.
Runner Up (Cashback): The BNZ Advantage Classic - Best Cashback for Annual Spend under $10,000 

​Our View: The BNZ Advantage Classic visa card offers a great cashback rate at 0.67% and a low card fee of $40 per year. You can put the cash you earn towards your credit card bill. You will have to spend $6,000 per year to earn back the card's annual fee. ​

​The Deal:
  • Interest rate: 20.95%
  • Annual fee: $40 ($20 charged every six months)
  • Monthly payments: Must be above the monthly minimum (either 2% or $25 of the balance owing - whichever is greater)
  • Earn: $1 Cash Reward from Every $150 spent
  • Cashback: $1 spend = 1 BNZ Point
  • Flybuys Conversion: BNZ $40 = 1 Flybuy (Flybuys will close 31 December 2024. You can redeem BNZ Points for Flybuys up until 31 October 2024.)
  • Cash Reward dollars can be used on BNZ financial products, such as bank accounts, credit card bills and KiwiSaver funds. Non-cash rewards must be purchased via Flybuys

Want to apply? Review the credit card in detail here (this link takes you to BNZ's website).

Want more options? Read our review of Reward and Cashback Credit Cards for the best deals now available.
Our Top Credit Cards: Proven Winners for Every Need (Airpoints, Rewards and Cashback)
We're frustrated with the low level of rewards and cashback offered by banks. We don't think being charged $40+ a year to have a rewards credit card that only gives you a $10 voucher for spending $1,500 to $2,000 is a good deal. But, sadly, it is the norm. What is somewhat helpful is the range of balance transfer offers and long-term low-interest rate cards

Everyone's credit card needs are different, so we've shortlisted five must-consider options to make life cheaper, easier and more rewarding. Our top credit cards are as follows:

1. Best for Airpoints Members: American Express Airpoints Platinum
2. Best Free Card: American Express Airpoints Card
3. Best for Rewards & Dining: American Express Gold Rewards
  • Why it wins: Earn 2 AMEX points per $1 spent, plus get $200 in annual dining credits.
  • Perfect for: Food lovers and regular spenders who want flexible rewards.
  • Annual fee: $175 (offset by dining credits alone)
  • Apply for AMEX Gold Rewards

4. Best for Debt Transfer: Co-operative Bank Fair Rate
5. Best Low-Interest Option: Kiwibank Zero Visa
​6. Best for Business Owners: American Express Gold Business Card
  • Why it wins: 2 points per $1 spent (double the rate of most cards), 50-day payment terms for superior cash flow, plus you can pay IRD and ACC bills via RewardPay to earn points on tax obligations.
  • MoneyHub runs on this card, which we use for 98%+ of our monthly business expenses, including online subscriptions, offline purchases, supplier payments via RewardPay, IRD bills, and more. The $95 annual fee pays for itself within weeks through the points we earn.
  • Bonus: 50,000 Membership Rewards points when you spend $1,000 in your first 2 months - worth $500+ in travel or 333 Airpoints Dollars.
  • Popular with: New Zealand businesses with $60,000+ revenue who want to turn every expense into rewards while extending payment terms.
  • Annual fee: $95 (our lowest business card fee, easily offset by rewards)
  • Apply for AMEX Gold Business Card and read our detailed card review


Know This:
  • You can apply in only a few minutes, and there is no obligation to have a credit card issued. 
  • MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. The majority of credit cards charge interest rates that can make repayments challenging to manage.
  • We previously had several buttons featuring low-interest credit cards and balance transfer credit cards. However, we don't want to encourage debt creation, so we removed them. However, you can find the best offers in their relevant section on this page.

Top Performing Airpoints, Rewards and Cashback Cards:

4. Best Small and Medium-Sized Business Credit Cards

American Express Gold Business Card

Our view:
  • This business-focused card offers exceptional value for companies with $60,000+ revenue. You can see what the card offers on the AMEX website and review the credit card in detail here.
  • Rewards: Earn 2 Membership Rewards points per dollar spent. Points never expire and can be redeemed for travel, converted to airline programs (for example, 150 points = 1 Airpoints Dollar), used as statement credits, or offset business expenses directly.
  • Bonus: 50,000 bonus Membership Rewards points when you apply, are approved and spend $1,000 within 2 months. New Card Members only. This sign-up bonus converts to 333 Airpoints Dollars or significant travel value.
  • Cashflow: The card's 50-day payment terms provide crucial cash flow flexibility, allowing you to pay suppliers immediately and capture early payment discounts, with nearly two months before your payment is due.
  • Bill payment: You can pay IRD, ACC and supplier bills using RewardPay, effectively earning rewards on tax and other obligations - turning necessary expenses into points.
  • Additional benefits include complimentary travel insurance when purchasing flights, business trip completion cover up to $20,000, direct Xero feeds for automated expense tracking, and year-end summaries for simplified tax filing.
  • American Express handles disputes directly, offering superior fraud protection and chargeback support, which avoids the complications of bank-issued cards, where issues often get "referred for review."
  • In summary, the combination of double points earning, extended payment terms, and the ability to earn rewards on tax payments makes this an essential tool for New Zealand businesses wanting to maximise every dollar spent.
  • More details: Our comprehensive review covers how businesses use the card for cash flow management, RewardPay integration, and converting points top-rated airlines like Qatar Airways Avios for business class flights, hotel stays and more.

The deal:
  • Annual Fee: $95
  • Points or Airpoints? Membership Rewards (convertible to multiple programs, including Airpoints)
  • Annual percentage interest rate: 3.25% liquidated damages on late payments (meaning the balance must be paid off by the due date to avoid this fee)
  • Interest Free Period: up to 50 days
  • Be aware: Requires business revenue of $60,000+ and registration with NZ Companies Office. A 2.50% currency conversion fee applies to foreign transactions.
  • Additional benefits: Employee cards ($70 p.a.), Apple Pay integration, MYOB/Quicken/Excel export, automatic GST separation on statements
  • More details: American Express Gold Business Card Review and Business Credit Cards Comparison
  • Want to apply? Review the credit card in detail here (this link takes you to the American Express website)
Alternative (but less rewarding) Business Credit Cards:

Best Cashback Alternative:
Best Airpoints Alternatives:
Best for Cash Flow Management:
Best for Expense Control:
Key differences from AMEX:
  • All alternatives are Visa and Mastercard, which are accepted more widely than AMEX
  • Lower foreign currency fees (as low as 1.30%, vs AMEX's 2.50%)
  • There are no signup bonuses comparable to AMEX's 50,000 points offering
  • Maximum 55-day payment terms (vs AMEX's 50 days)
  • Significantly lower reward-earning and benefits overall

5. Best Travel and FX Rate Credit Card

Flight Centre Mastercard

​Our View:  With no international transaction fees# and Flight Centre Rewards, the Flight Centre Mastercard is New Zealand's leader for overseas travel. Competing cards charge between 1.80% and 2.5% on top of the value of the purchase. The Flight Centre Mastercard charges 0% and benefits from outstanding Mastercard FX rates. ​

The Deal:
  1. Standard Interest rate: 24.99% p.a. Most other reward credit cards charge 20% to 25% p.a., so this is in the range.
  2. ​​Annual Account Fee: $50 (charged as $25 every 6 months). 
  3. No international transaction fees and currency conversion - you won't pay any FX fees (saving you around 2% to 2.5% compared to most other credit cards). #Excludes cash advances. 
  4. Up to 44 days interest free terms by paying your closing balance in full by the due date. Standard Interest Rate of 24.99% p.a. will apply to any part of the closing balance on your statement that is not paid by the payment due date. This interest will be calculated from the date the relevant purchases were debited to your account.
  5. ^Long term finance deals, including interest-free terms and extended payment holidays for deals available with Flight Centre and many other retailers.
  6. Straightforward reward system for earning and redeeming -  cardholders earn 1.00 Flight Centre Rewards for every NZ$150 spent at any retailer that accepts Mastercard in NZ, 1.00 Reward for every $100 spent internationally (where Mastercard designates the merchant to be in a country other than NZ ) and 2.00 Rewards for every NZ$150 spent at Flight Centre NZ. 1 Reward = NZ$1.00 credit to spend at Flight Centre. And, unlike Air New Zealand credit cards, you can spend rewards on ANY airline, hotel or travel package at Flight Centre NZ when you book using the Flight Centre Mastercard.
  7. Redeeming is easy - Flight Centre Reward credit is automatically deducted from any Flight Centre purchase made with the card. Flight Centre Reward credit is valid for three years. 
  8. Cardholders can add additional card holders for no extra cost - this allows them to earn rewards on more than one person’s spend.
  9. Flight Centre Mastercard integrates with with Apple Pay™, Google Pay™ & Garmin Pay™.

^Lending criteria, $50 annual Account Fee, fees, Ts&Cs apply. Minimum spends and exclusions may apply. Standard Interest Rate of 24.99% p.a. applies after any interest free period. $55 Establishment Fee applies to your first LTF transaction and $35 Advance Fee applies to subsequent LTF transactions. See Fees and charges - Flight Centre Mastercard for full details. 

Want to apply? Read our Flight Centre Mastercard review

Beyond Credit Cards - Our Top-Rated Debit Card for Travel and Non-NZD Payments - The Wise Debit Card

Christopher Walsh
MoneyHub Founder (and Frequent User of Wise)
Our View:
  • Very few credit cards offer 0% FX fees; the Westpac and Flight Centre Mastercards are the only two.
  • However, the Wise Debit Card is a popular choice alongside any credit card and offers superior exchange rates and low fees for international transactions.
  • Many New Zealanders use it alongside their credit card to manage finances more effectively while getting the maximum value for every NZD. 
  • The Wise Debit card is a popular backup card useful for everyday spending overseas. MoneyHub readers continue to email our research team to explain how useful the app is to review spending and how surprised they are that the fees for spending overseas are so low.​

Why we like the Wise Debit Card:
  • Best exchange rates: Wise offers the best exchange rates in New Zealand per our research, making every NZ Dollar stretch further.
  • No hidden fees: Spend abroad and online without worrying about hidden fees while tracking all your spending easily through their app with the option to convert and hold 54 different currencies.
  • Go cardless: The Wise Card links to Apple Pay and Google Pay.
  • Low setup fee: For a low one-time fee of $14, you can order your Wise card and set it up in minutes via the Wise website or app.
  • Online shopping benefits: Enjoy smooth and secure online shopping with Wise. Approve payments easily and benefit from low fees compared to traditional credit cards.

6. Best Low-Interest Credit Card

"Low interest" isn't synonymous with a bargain deal – credit card interest rates remain above 9% p.a., making repayments challenging. To provide a comprehensive understanding, MoneyHub Founder Christopher Walsh delves into the intricacies of low-interest credit cards:
Best options available:
Lowest Interest Rate - ASB Visa Flex

Our View: An outstanding offering with zero annual fees, zero overseas FX fees and a low interest rate, and up to 55 days interest free.

​The deal:
Low Interest Rate, Balance Transfer Options and Zero Fees - Westpac Fee Free Mastercard

Our View: A strong offering with zero annual fees, zero overseas FX fees and a low interest rate.

​The deal:
  • Interest rate: 12.90% p.a. 
  • Annual fee: $0
  • Balance transfer offer: Up to 6 months at 0%, then 5.95% for the life of the balance
  • Monthly payments: Must be above the monthly minimum (either 2% or $5 of the balance owing - whichever is greater)
  • For more details or to apply, visit Westpac's website. 
Another Option: Kiwibank Zero Visa

Our View: This is by far the best low interest credit card on offer - 12.90% is a low interest rate and the card has no annual fee, along with a helpful 1.99% p.a. interest rate for six month on balance transfers. There is up to 55 days of interest free on new purchases. 

​The deal:
  • Interest rate: 12.90% p.a. 
  • Annual fee: $0
  • Interest-Free Offers on Purchases: No
  • Balance transfer: 1.99% p.a. for 6 months
  • Monthly payments: Must be above the monthly minimum (either 5% or $20 of the balance owing - whichever is greater)
  • Balance Transfers: You must request a balance transfer in the first 30 days to get the 0% interest period and you can't transfer a balance from another Kiwibank card. 

Want to apply? Review the credit card in detail here (this link takes you to Kiwibank's website).

​Want more options? Read our Review of Low-Interest Credit Cards for the best deals now available.
Important: Kiwibank’s Unique FX Charges on some NZD Transactions
  • Kiwibank recently updated its debit and credit card fees for everyday accounts, removing 12 fees and reducing the debit card International transaction fee from 2.5% to 1.85%. At the same time, they have started charging an International Transaction Fee on all transactions processed overseas.
  • This includes transactions in NZD from merchants such as online gambling companies, Netflix, Airbnb, Google, and most international airlines. This fee has surprised some Kiwibank customers, who first alerted us to it in early December 2025.  
  
We asked Kiwibank to explain their reasoning for this fee - this is their response: 
"At Kiwibank, our decisions are guided by our Purpose of Kiwi making Kiwi better off. Our recent changes to our debit and credit card fee structure deliver more value to the greatest number of customers.  

“The 1.85% fee on transactions processed overseas reflects the real costs incurred when payments are routed through international networks, even if the transaction is shown in NZD.  

“We understand this fee may be unexpected for some customers, even after communications about the changes, and it's not always obvious where merchants choose to process your transactions. More international merchants are processing payments locally, for which there is no charge – this includes the likes of Temu, Trip.com, Qantas and Uber; if you're unsure, it's best to check with the merchant.  

“These updates are designed to rebalance fees in a way that benefits the greatest number of customers, while encouraging more international merchants to process payments locally - supporting New Zealand's economy through increased tax contributions, local jobs and stronger consumer protections, ultimately making Kiwi better off". 

Our View: We appreciate Kiwibank's transparency regarding this fee, but remind Kiwibank customers that it is a unique fee charged by Kiwibank. Other banks and cards don't currently charge for NZD transactions processed overseas. 

This arguably makes Kiwibank less competitive when goods and services are priced in NZD and processed overseas, as the cardholder will incur the 1.85% fee.  
  
This fee, as recently shared by a MoneyHub reader, amounted to $90+ on a $5,000 Airbnb booking for a week at Lake Hawera. To reinforce the point, Kiwibank is the only NZ bank that charges such a fee. 

7. Best Student Credit Card

ASB Visa Light

Our View: The ASB offers fantastic benefits with its student account, which comes with a fee-free Visa Light credit card. With 6 months interest-free on individual purchases over $1,000 and a low-interest rate of 13.50%, the ASB delivers a package that powers student living.

​The Deal:
  • Interest rate: 13.50% p.a
  • Annual fee: $0
  • Interest-free period: 6 months on individual purchases over $1,000
  • Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)
  • Requisites: You will need to be a student to qualify for the student bank account, but the ASB Visa Light is available for anyone to apply and is a fee-free card. 
  • Balance transfers are permitted

Want to apply? Review the credit card in detail here (this link takes you to ASB's website)

Want more options? Read our Review of Student Bank Accounts and Credit Cards for the best deals available now.

MoneyHub in the news: Read our Student Bank Account feature in Stuff.co.nz

8. Best Free Credit Card

American Express Airpoints Credit Card

The Basics
  • Cashback/Rewards: 1 Airpoint Dollar for every $100 spent. Airpoints Dollars can be spent at the Airpoints Store (6,000+ options covering fashion, experiences, beauty, health, wine, food, home, tech, outdoors, vouchers and hampers, as well as flights).
  • No annual spend needed to cover the annual card fee (because the card is free)
  • Bonus Offer: 50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only.
  • ​Our View: The best rewards card available, with no annual fee and a generous redemption rate.
  • More Details: American Express Airpoints Credit Card ​

The Need-to-knows
  • The interest rate is 22.95% p.a.
  • $0 annual fee
  • Pay the balance every month to maximise the reward benefits – any late payments and interest charges will destroy your gains.
  • The card is an American Express which is widely accepted throughout New Zealand, although some smaller independent retailers may not accept it. Major retailers who accept it include Countdown, New World, PAK'nSAVE, SuperValue, BP, Caltex, GAS, Gull, Mobil, Shell and Z.
  • More details: American Express Free Airpoints Card vs Airpoints Platinum

Want to apply? Review the credit card in detail here (this link takes you to the American Express website)
Runner Up: ANZ Low Rate Visa

Our View: With the lowest interest rate among all free credit cards, we rank this card very highly. You won't get any rewards or bonuses however, so for anyone planning to pay off a credit card every month in full, there are better options.

​​The deal:
  • Interest rate: 13.90% p.a.
  • Interest-free days: 55
  • Bonus/Rewards: None
  • ​Monthly payments: Must be above the monthly minimum (either 3% or $10 of the closing balance owing - whichever is greater)

Want to apply? Review the credit card in detail here (this link takes you to the ANZ's website)

Want more options? Read our Review of Free Credit Cards for the best deals available now.

Frequently Asked Questions (Specific to AMEX)

Is the $195 annual fee for the AMEX Airpoints Platinum Card worth it?

  • The $195 annual fee for the AMEX Airpoints Platinum Card is well worth it for cardholders spending $1,000 or more per month, as the combination of rewards and benefits often exceeds the cost within the first year.
  • For example, the welcome offer provides 300 bonus Airpoints Dollars when you spend $1,500 within 3 months, which can be redeemed for a return flight within New Zealand (if you book in advance)
  • Additionally, the card earns 1 Airpoints Dollar per $70 spent, the highest rate in New Zealand, meaning a $1,000 monthly spend generates 171 Airpoints annually, worth around $171 for flights or Airpoints Store purchases.
  • Beyond rewards, you get four lounge passes per year (valued at ~$200), comprehensive travel insurance (saving $100–$300 per trip), and mobile phone screen insurance (up to $500). For frequent travellers, Status Points (1 per $250 spent) help maintain or achieve Air NZ Gold/Elite status, unlocking further perks like priority boarding.
  • Compared to bank-issued cards like ANZ Airpoints Platinum ($150 fee, 1 Airpoints/$110), AMEX offers superior value. To maximise benefits, pay your balance monthly to avoid a 22.95% p.a. interest rate.

What’s the 300 bonus Airpoints offer, and how do I qualify?

​The AMEX Airpoints Platinum Card offers 300 bonus Airpoints Dollars as a welcome incentive for new card members. To qualify, you need to apply online, get approved, and spend $1,500 on eligible purchases (e.g., groceries, fuel, travel) within the first 3 months. This is easily achievable with $500 monthly spending, typical for households using the card for everyday expenses. The 300 Airpoints are credited to your Airpoints account after meeting the spend requirement and can be redeemed once you reach the $1,500 spend.

How do Status Points help with Air New Zealand Airpoints status?

  • ​The AMEX Airpoints Platinum Card earns 1 Status Point per $250 spent, which accelerates your progress toward Air New Zealand’s Silver, Gold, or Elite status tiers, offering exclusive benefits for frequent travellers.
  • For example, spending $45,000 annually earns 180 Status Points, contributing significantly to the 450 points needed for Silver or 900 for Gold (lounge access, priority boarding). Gold status, valued at ~$1,000 annually, is ideal for maintaining perks like complimentary Air New Zealand lounge access. Unlike Airpoints Dollars, Status Points don’t fund flights but enhance your travel experience. For instance, a $1,500 monthly spend generates 72 Status Points yearly, giving you a head start.

What travel insurance is included with AMEX Platinum?

  • The AMEX Airpoints Platinum Card includes comprehensive travel insurance for domestic and international trips, activated when you pay for travel (e.g., flights, hotels) with the card.
  • Coverage levels are outlined in our dedicated review.

Can I use AMEX for automatic payments, and how does it work?

  • Yes, the AMEX Airpoints Platinum Card is ideal for automatic payments, allowing you to earn Airpoints on recurring expenses like utilities (e.g., Contact Energy, Powershop), subscriptions (e.g., Netflix, Spotify), or insurance premiums.

Is AMEX Platinum safe for online purchases?

  • The AMEX Airpoints Platinum Card offers robust security for online purchases, backed by American Express’s advanced fraud protection. Features include real-time transaction monitoring, instant alerts for suspicious activity, and zero liability for unauthorised charges.

What happens if I don’t pay my balance monthly?

  • To maximise the AMEX Airpoints Platinum Card’s rewards, pay your balance in full each month to avoid the interest rate, which can quickly erode Airpoints benefits.
  • For example, a $1,000 unpaid balance incurs ~$19 monthly interest, negating the value of ~11 Airpoints earned on that spend. The AMEX app sends payment reminders and allows you to track spending, set budgets, and schedule payments to stay on top of your balance.
  • If you can’t pay in full, we suggest reading our guide on how to repay a credit card bill on an average salary LINK.

Why choose AMEX Platinum over bank-issued Airpoints cards?

  • The AMEX Airpoints Platinum Card outshines bank-issued Airpoints cards (e.g., ANZ, Westpac) due to its superior earn rate, perks, and exemption from Visa/Mastercard interchange fee caps (0.80% since 2022), which limit bank rewards. AMEX earns 1 Airpoints Dollar per $70 spent, compared to ANZ’s $115 or Westpac’s $110–$220. For a $1,000 monthly spend, AMEX yields 171 Airpoints annually vs 104 for ANZ, a ~$67 flight value difference.
  • AMEX’s 300 bonus Airpoints offer beats all other options. Perks like four lounge passes, travel insurance, and Status Points are unmatched. Post-Kiwibank’s Airpoints exit in November 2025, we believe AMEX is the clear leader.

How does AMEX work in New Zealand? Can I use their cards widely?

To help determine the acceptance of AMEX in New Zealand and highlight the general feeling from local cardholders, we've pasted a selection of reviews from Reddit members that appear on various PersonalFinanceNZ posts. We include these to help you decide if an American Express credit card is right for your needs:
  • "Definitely worth having in NZ; you can use it at most petrol stations/supermarkets/retailers. Have a backup (debit) card for everything else".
  • "I have had my AMEX for a few months now, and acceptance is not that bad. Almost all big chains accept it, higher-end restaurants, most online shopping (or you can funnel via PayPal), and I can even pay my phone, internet, and power bills with it. However, smaller shops/cafes are unlikely to take it, so I have to bust out my visa debit card occasionally".
  • "I haven't run into any Amex-specific surcharges. Instead, I found that either a business will have a blanket credit card surcharge or, in some cases, a paywave surcharge".
  • "I've had my Amex Airpoints Platinum for 3+ years, and I'm pretty happy with it. I use it for everything I possibly can to build up as many airports as possible. I use it as I would use my debit card and then pay my bill off every month on time. I've already got flights to Fiji out of my points and currently letting points build up for flights to Europe".
  • The $195 card fee is a lot, but if you use it enough and build up your Airpoints Dollars, it's well worth it".
  • "They have nice service. For example, I got double charged once in a store, reported it to AMEX, and got the refund immediately after the call".

​Our guide to the Best American Express Credit Cards has more information about the cards available.
What Our 2025 Credit Card Analysis Taught Us: Why Banks Are Losing and AMEX Dominates
​We analysed the current state of New Zealand credit cards following major changes at Kiwibank (which has ended its Airpoints offering) and BNZ (with a significant rewards devaluation after 1 February 2026). The findings were stark:

1) AMEX Emerged as the Clear Winner
  • American Express Airpoints Platinum Card earns 1 Airpoints Dollar per $70 spent - 50%+ more than any bank card
  • Banks now earn 1 per $110-$220 spent due to interchange fee caps that don't affect AMEX
  • The real difference in a $20,000 annual spend = 285 Airpoints (AMEX) vs 182 (ANZ) vs 91 (Westpac high spenders)
  • Get 300 bonus Airpoints with AMEX (worth 2+ domestic flights) vs zero from banks

2) The Kiwibank Exodus: An Estimated 10,000+ Cardholders Abandoned
  • Kiwibank turned off its Airpoints programme entirely in October 2025
  • Affected cardholders received generic Platinum/Zero cards with no rewards earning
  • Our Kiwibank replacement guide shows the alternatives on offer

3) BNZ's 26% Devaluation: Same Fees, Less Value
  • From February 2026, BNZ Points lose 26% of their value overnight
  • Interest-free days drop from 55 to 44, and travel insurance benefits get scaled back
  • Our BNZ replacement guide explains the options available

4) ANZ and Westpac: Racing to the Bottom
  • ANZ: Stripped lounge access, rarely offering a signup bonus, poor earn rate ($115 per Airpoint)
  • Westpac: Halves earn rate for high spenders ($220 per Airpoint after $7,000/month)
  • Both charge $125-310 annual fees for inferior benefits vs AMEX's $195

5) The Calculations Banks Hope You Don't Do
  • Lounge passes: AMEX gives 4 ($200+ value), banks give zero
  • Travel insurance: AMEX includes comprehensive cover as some banks (e.g. BNZ) are reducing the benefits they offer
  • Mobile insurance: AMEX includes up to $500; banks offer nothing
  • Status Points: AMEX, like ANZ and Westpac's Airpoints cards, earns them, helping maintain Air NZ Silver, Gold and Elite status

The Bottom Line
  • Banks have systematically degraded the value propositions of their credit cards, while AMEX, unaffected by interchange regulations, maintains premium benefits.
  • The 300 Airpoints signup bonus alone covers AMEX's annual fee, while superior earn rates deliver 50-100+ extra Airpoints annually for typical spenders.

Compare for yourself:
Our View: AMEX acceptance has reached a tipping point in 2025 - every major supermarket, petrol station and retail chain now accepts it. MoneyHub readers increasingly realise that earning 50%+ fewer rewards with bank cards no longer makes sense. We're seeing hundreds switch monthly, unwilling to leave 100+ Airpoints on the table annually. Our AMEX Airpoints Platinum Review has further details.
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