The Best Credit Cards 2021
Updated 25 February 2021
From lowest interest rates to free flights, our research team analysed the market and selected the best offerings, making it easy to find the best card for your needs. Our categories include:
Our Favourite Top 3 Credit Cards (Rewards, Balance Transfer and Low-Interest)
Everyone's credit card needs are different, so we've shortlisted three must-consider options to make life cheaper, easier and more rewarding. These include:
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
- American Express Airpoints Platinum Card - The card with a vast number of useful insurance perks, an unbeatable Airpoints earning:spend rate, status points and an attractive 400 Airpoints Dollars sign up offer.
- 0% Interest - ASB Visa Light Balance Transfer: The card with a generous 0% interest for six months, zero card fees and attractive interest-free purchase offers.
- Low-Interest - Kiwibank Low Rate Visa: The card with the market-leading 9.95% p.a. interest rate, low card fees and a 1.99% p.a. balance transfer offer.
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
Best Balance Transfer Credit Card
ASB Visa Light
Our view: ASB offers the only 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 13.45%. 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:
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 Balance Transfer Credit Cards for the best deals now available.
MoneyHub in the news: Read our Balance Transfer feature in Stuff.co.nz
Our view: ASB offers the only 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 13.45%. 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)
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
Balance Transfer Runner up: 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:
Want to apply? Review the credit card in detail here (this link takes you to ANZ's website)
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 12.90%* 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)
Best Travel Benefits Credit Card (for anyone earning over $50,000 p.a.)
American Express Airpoints Platinum
Our view:
The deal:
Want to apply? Review the credit card in detail here (this link takes you to the American Express website)
Our view:
- Despite an annual fee of $195, the card is packed with features and its generous 400 Airpoints Dollar sign-up bonus effectively pays for membership fee for the first two years.
- 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.
- 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 significantly discounted Koru Club membership.
- In summary, we believe that the Amercian Express Airpoints Platinum is one of the best credit cards on offer with wide appeal among many New Zealand households.
The deal:
- Annual Fee: $195
- Airpoints or Membership Rewards? Airpoints
- Annual percentage interest rate: 19.95% p.a.
- Interest Free Period: up to 55 days
- Bonus Offer: Be rewarded with 400 bonus Airpoints Dollars when you apply online by 30 March 2021, are approved, and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members only.
- 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 $59 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)
Want to apply? Review the credit card in detail here (this link takes you to the American Express website)
Runner Up: Kiwibank Air New Zealand Airpoints Platinum Visa
Our View: We consider this the best card for a number of purposes. Being a Visa, it’s widely accepted and even though it earns fewer Airpoints than the AMEX Airpoints Platinum ($1 per $75 spend vs $1 per $59 spend).
The Deal:
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 Air New Zealand Credit Cards for the best deals now available.
Our View: We consider this the best card for a number of purposes. Being a Visa, it’s widely accepted and even though it earns fewer Airpoints than the AMEX Airpoints Platinum ($1 per $75 spend vs $1 per $59 spend).
The Deal:
- Interest rate: 20.95% p.a.
- Annual fee: $150, but promotions throughout the year have seen it waived during the first year.
- Monthly payments: Must be above the monthly minimum (either 5% or $10 of the balance owing - whichever is greater)
- Earn Rate: $75 you spend earns 1 Airpoints Dollar
- Two Koru Club vouchers for every $30,000 spent (valid for 1 year for the cardholder and a guest), with a maximum of two pairs (i.e. four vouchers) earned per year.
- Complimentary overseas travel insurance (as long as you use the credit card when paying for your travel costs).
- Status Points: The card earns 1 status point for every $200 spent, which assists reaching Silver, Gold and Gold Elite tier levels. If you spend $45,000 in one year, you’ll earn 225 Status points which is half the points you’ll need to reach Silver. Please note, to reach a tier, 50% of status points must be earned on Air New Zealand, Star Alliance and/or other Qualifying flights - for more details click here.
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 Air New Zealand Credit Cards for the best deals now available.
Our Favourite Top 3 Credit Cards (Rewards, Balance Transfer and Low-Interest)
Everyone's credit card needs are different, so we've shortlisted three must-consider options to make life cheaper, easier and more rewarding. These include:
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
- American Express Airpoints Platinum Card - The card with a vast number of useful insurance perks, an unbeatable Airpoints earning:spend rate, status points and an attractive 400 Airpoints Dollars sign up offer.
- 0% Interest - ASB Visa Light Balance Transfer: The card with a generous 0% interest for six months, zero card fees and attractive interest-free purchase offers.
- Low-Interest - Kiwibank Low Rate Visa: The card with the market-leading 9.95% p.a. interest rate, low card fees and a 1.99% p.a. balance transfer offer.
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
Best Reward Credit Card
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:
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.
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, or 1 for every $75 spent at Mobil
- 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 points never expire
- 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.
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.
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:
Want to apply? Read our Flight Centre Mastercard review
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:
- Interest rate: 22.95% pa. Most other reward credit cards charge 20% to 25% p.a., so this is in the range.
- Annual fee: $50 (charged as $25 every 6 months).
- No international transactions and currency conversion - you won't pay any FX fees (saving you around 2% to 2.5% compared to most other credit cards).
- Up to 44 days interest free terms by paying your closing balance in full by the due date. Interest 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.
- Long term finance deals including interest free terms and extended payment holidays deals available with Flight Centre and many other retailers.
- Straightforward reward system for earning and redeeming - cardholders earn $1 of Flight Centre credit for every NZ$100 spent at any retailer, and $2 of Flight Centre credit for every NZ$100 spent at FlightCentre. And, unlike Air New Zealand credit cards, you can spend rewards on ANY airline, hotel or travel package.
- Redeeming is easy - Flight Centre credit is automatically deducted from any Flight Centre purchase made with the card. Flight Centre reward credit is valid for three years.
- FREE global Wi-Fi access using the popular Boingo network - your card gives you access to over one million Wi-Fi hotspots around the world, including 30+ New Zealand locations.
- Cardholders can add an additional card holder for no extra cost - this allows them to earn rewards on more than one person’s spend.
- Flight Centre Mastercard integrates with Apple Pay.
Want to apply? Read our Flight Centre Mastercard review
Best Cashback Credit Card
The BNZ Advantage Classic - Best Cashback for Annual Spend under $10,000
Our View: The BNZ Advantage Classic visa card offers the best cashback rate of 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:
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 View: The BNZ Advantage Classic visa card offers the best cashback rate of 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 per $150 spent (calculates at 66.6 cents per $100 spent).
- Flybuys Conversion: BNZ $40 = 1 Flybuy.
- 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.
Best Low-Interest Credit Card
Kiwibank Low Rate Visa
Our View: This is by far the best low interest credit card on offer - 9.95% is likely to be a record-low interest rate in New Zealand. While the annual fee is $30, the balance transfer offer is attractive and there is up to 55 days of interest free.
The deal:
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.
Our View: This is by far the best low interest credit card on offer - 9.95% is likely to be a record-low interest rate in New Zealand. While the annual fee is $30, the balance transfer offer is attractive and there is up to 55 days of interest free.
The deal:
- Interest rate: 9.95% p.a.
- Annual fee: $30
- 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.
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:
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
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)
- Qualify: 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
Best Free Credit Card
ANZ Low Rate Visa
Our View: With the lowest interest rate among all free credit cards, we've ranked this card first. 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:
Want to apply? Review the credit card in detail here (this link takes you to the BNZ's website)
Want more options? Read our Review of Free Credit Cards for the best deals available now.
Our View: With the lowest interest rate among all free credit cards, we've ranked this card first. 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: 12.90% 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 BNZ's website)
Want more options? Read our Review of Free Credit Cards for the best deals available now.
Our Favourite Top 3 Credit Cards (Rewards, Balance Transfer and Low-Interest)
Everyone's credit card needs are different, so we've shortlisted three must-consider options to make life cheaper, easier and more rewarding. These include:
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
- American Express Airpoints Platinum Card - The card with a vast number of useful insurance perks, an unbeatable Airpoints earning:spend rate, status points and an attractive 400 Airpoints Dollars sign up offer.
- 0% Interest - ASB Visa Light Balance Transfer: The card with a generous 0% interest for six months, zero card fees and attractive interest-free purchase offers.
- Low-Interest - Kiwibank Low Rate Visa: The card with the market-leading 9.95% p.a. interest rate, low card fees and a 1.99% p.a. balance transfer offer.
Are you looking for something else? Take a look at our must-have Credit Cards list which has a number of our favourite options that offer unbeatable value for money.
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