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Compare the Best Credit Cards (October 2026)

Looking for a new credit card? We outline and compare the best credit cards for Balance Transfer, Rewards, Cashback, Air New Zealand Airpoints, Low Interest and Students.
​Updated 5 October 2026

Important: This guide was relaunched in August 2026. Every rate, fee and rewards figure was checked against each issuer's published terms. Issuers can change these at any time, so confirm the details on the issuer's site (linked under each card) before you apply. Report an error on this page - no name or email needed.
​
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 historical Stuff.co.nz column by MoneyHub's founder Christopher Walsh and our analysis of Reserve Bank data. 

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:
If you are comfortable with your credit card habits, we have further guidance:
  • Do you spend around $500 a month? We suggest considering The American Express Airpoints Card - it costs $0/year and gives you 1 Airpoint for every $100 you spend. There is currently a bonus offer available to new card members, you can receive 50 bonus Airpoints 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 Airpoint for every $70 you spend. There is a bonus offer for new card members of 400 bonus Airpoints when you apply by 28 October 2026, are approved and spend $1,500 on your new Amex Airpoints Platinum Card within the first 3 months. New Amex Card Members only.
  • 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).
Why is there so much Amex on this page?
Because on the two things that are relevant to rewards and travel credit cards - Airpoints earned per dollar spent and what you get for the annual fee - the two American Express Airpoints cards currently offer the highest Airpoints earn rates in New Zealand. The no-fee American Express Airpoints Card is the only Airpoints credit card with no annual fee. That's why they appear at every spending level above.

What Amex does well
  • Rewards: 1 Airpoint per $100 spent on the no-fee American Express Airpoints Card and per $70 on the American Express Airpoints Platinum Card, plus sign-up bonuses for new card members.
  • One company, no middleman: Amex issues the card and runs the payment network, so fraud, disputed charges and replacement cards are handled directly by Amex rather than through a bank's card team.
  • Acceptance has widened: Most supermarkets, petrol stations, major retailers and online stores now accept Amex. It's still not universal - some smaller businesses don't, and some that do add a surcharge, which Amex opposes but can't prevent. If you'd need a second card for everyday purchases, you'd earn rewards on less of your spending and might pay two annual fees - check where you actually spend before applying.
  • However, if an Amex doesn't suit how you spend, the bank cards further down are ranked the same way.

Know this: Amex's foreign currency fee is now the highest of the major cards
Amex charges a 2.5% currency conversion fee on purchases made in a foreign currency, whether made overseas or on an overseas website. The banks are moving the other way:
Know This: The AMEX Airpoints Platinum returns roughly 1.4% of spend in Airpoints and the no-fee card about 1%, so on foreign-currency purchases both cards cost more in FX conversion fees than they earn. If a meaningful share of your spending is overseas or on international websites, you may want to pair your Amex with a 0% card for that spend, or choose a 0% card outright.
What Our 2026 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
2) Kiwibank Cardholders can no longer earn Airpoints
3) BNZ's 26% Devaluation: Same Fees, Less Value
  • In 2026, BNZ Points lost 26% of their value overnight while interest-free days dropped from 55 to 44, and travel insurance benefits were scaled back
  • Our BNZ replacement guide explains the options available

4) ANZ and Westpac offer limited rewards
  • ANZ: Stripped lounge access, rarely offering a signup bonus, poor earn rate ($110 per 1 Airpoint)
  • Westpac: $110 per 1 Airpoint then halves earn rate for high spenders ($220 per Airpoint after $7,000/month)
  • Both charge $125-310 annual fees for arguably inferior benefits vs AMEX's $195

5) American Express Airpoints Platinum Card value beyond rewards:
The Bottom Line
  • Banks have systematically degraded the value propositions of their credit cards, while AMEX, unaffected by interchange regulations, maintains premium benefits.
  • The 400 Airpoints signup bonus alone covers AMEX's annual fee, while superior earn rates deliver 50-100+ extra Airpoints annually for typical spenders.​

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, although I am pleased to see ASB and ANZ reduce their FX fees on all personal credit cards. 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 historical Stuff.co.nz column).

What's worse - interest rates historically average around 18-20% p.a. according to data published by the Reserve Bank. With over $3 billion outstanding every month that's paying interest, 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".
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. But, sadly, it is the norm. What is somewhat helpful is the range of balance transfer offers and long-term low-interest rate cards - we appreciate banks innovating in this space given the overall high rates and cost of credit card interest.

Everyone's credit card needs are different, so we've shortlisted 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: $200 (offset by dining credits alone)
  • Apply for AMEX Gold Rewards

4. Best Low-Interest Option: ASB Visa Flex
  • Why it wins: 9.95% p.a. - the lowest rate with no annual fee.
  • Annual fee: $0
  • Learn more about ASB Visa Flex​ ​
Got an investing, KiwiSaver or general money question? Come to our first-ever Auckland event on 21 November 2026. 

MoneyHubMOVE is a one-day event to get real about your money: straight-talking sessions, 30+ exhibitors and dozens of experts, and a clear idea of what to do next.
  • When and where: Saturday 21 November 2026, Auckland Showgrounds, 9am to 5pm
  • On the floor: 30+ stands you can walk up to and ask anything: investing platforms, KiwiSaver providers, retirement income and planning, banking, insurance, mortgage brokers, car finance, credit cards, crypto, financial advisers, and free budgeting and debt help from financial mentors and the Citizens Advice Bureau. See the full line-up here
  • On stage: Sam Stubbs, Brad Olsen, Jarrod Kerr, Shamubeel Eaqub, Nadine Higgins, Tamsyn Parker and MoneyHub founder Christopher Walsh
  • Tickets: $5 General Admission - numbers are limited
  • Prizes: Every ticket goes in the draw for $8,000 in cash (40 prizes of $200)

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

The right Airpoints card depends on how much you spend and how often you fly - the comparison table below covers all of them.​

Are you a Kiwibank customer?
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 on gifts, food and beverage, Mitre 10 and other hardware shops, flights and thousands of other options. Our guide to redeeming Airpoints for maximum value has more details.
  • Bonus: There is a bonus offer for new card members of 400 bonus Airpoints when you apply by 28 October 2026, are approved and spend $1,500 on your new Amex Airpoints Platinum Card within the first 3 months. New Amex Card Members only.
  • With the highest earning rate of Airpoints (approx 1.43 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 at least 50% more Airpoints than bank-branded personal credit cards.
  • American Express is increasingly accepted around New Zealand with all supermarkets and major retailers covered, but we suggest you check your spending habits before applying, as AMEX isn't for everyone.
  • 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.
  • More details: AMEX Airpoints Platinum cardholders share honest reviews about acceptance, rewards and if the $195 annual fee is worth the outlay. 
​
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 $13,650 (to earn 195 Airpoints), or, on average, around $1,130 a month.
  • Earning: ​Every $70 you spend = 1 Airpoint, 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)
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 Airpoint, whereas, with bank-issued platinum cards, you'll spend 57% more​ to get the same Airpoints. 
  • The card is competitive for anyone needing to top up status points to renew Air NZ Koru Silver, Gold, Platinum or Black, providing a great tailwind to reach the status 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 Airpoint 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 earning rate make reaching and maintaining my Air NZ Koru Platinum status easy, especially since I book cheaper airfares well in advance, so I won't get there on flights alone.

That being said, many people like the ANZ Airpoints Visa Platinum as it earns 50% bonus Status Points on top of the Status Points you earn on qualifying flights with Air New Zealand - an easy way to gain and retain Koru status if you fly Air New Zealand on a regular basis".
Why AMEX Outshines ANZ and Westpac:
Card
Earn Rate
Annual Fee
Bonus Offer
Lounge Access
AMEX Airpoints Platinum
1 Airpoint/$70 spend
and
$250 = 1 Status Point
$195
There is a bonus offer for new card members of 400 bonus Airpoints when you apply by 28 October 2026, are approved and spend $1,500 on your new Amex Airpoints Platinum Card within the first 3 months. New Amex Card Members only.
​Yes (4 passes)
Westpac Airpoints Platinum Mastercard
1 Airpoint/$110 spend (then $220 after $7,000 monthly spend)
and
​$225 = 1 Status Point
$125
None
No
Westpac Airpoints World
1 Airpoint/$95 spend(then $190 after $15,000 monthly spend)
​and
​$225 = 1 Status Point
$310
​None
Yes (Priority Pass)
ANZ Airpoints Visa Platinum
1 Airpoint/$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 Airpoint/$100 spend

​No Status Points
$0
50 Airpoints
No
Alternative Option: 0% FX Fee, Travel Insurance and Airpoints - ANZ Airpoints Visa Platinum
​
Our view: Since 24 June 2026, ANZ has charged no foreign currency fee on any of its personal credit cards, which makes this the first bank Platinum card in New Zealand to combine 0% FX, overseas travel insurance and Airpoints.

It earns 1 Airpoint per $110 spent - 57% fewer than the AMEX Airpoints Platinum - but on overseas spend the gap reverses: AMEX's 2.50% fee costs more than the Airpoints it earns, while ANZ's spend is fee-free. It's a Visa, so acceptance isn't a question, and it adds a 50% Status Points bonus on Air New Zealand flights.

The numbers:
  • $150 annual fee ($5 for an additional card)
  • 20.95% p.a. on purchases
  • Up to 44 days interest free
  • Benefits: International travel insurance activated when you pay at least half your pre-paid travel costs with the card.
  • Important: No lounge access and no Status Points from spend.

It suits you if a large share of your card spending is overseas or on international websites, or you want the acceptance of a Visa with insurance and Airpoints in one card. Look elsewhere if most of your spending is at home and you fly Air NZ regularly - the AMEX Airpoints Platinum earns far more on domestic spend and adds lounge passes - or if you don't need Airpoints at all, where ANZ's Low Rate Visa gives you the same 0% FX with no annual fee.

​MoneyHub's editor Christopher Walsh says: "For years the trade-off was simple: bank cards took a 2% cut of everything you spent overseas, and the only way around it was a no-rewards card or a travel money card. ANZ dropping the fee on its Platinum changes that. If you're heading overseas with a card that earns Airpoints, this is now the one to beat on the trip itself - and the AMEX is still the one to beat at home".

Learn more or apply with ANZ

2. Balance Transfer Credit Card Options

Important: Why we don't name a "best" balance transfer card
  • A balance transfer is assessed as a new credit application, and every bank applies its own criteria.
  • The same application can be approved by one bank and declined by another, and the offers themselves change often.
  • That means there's no single best card - the right one is arguably whichever bank approves you, at a rate and for a term that lets you clear the balance.
  • We list the options available for you to consider.
  • Before you apply, check each bank's eligibility criteria, apply to one at a time, and only transfer what you can realistically repay within the interest-free period.
Option 1: The Co-operative Bank's Fair Rate credit card which 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)
  • Monthly payments: Must be above the monthly minimum (either 3% or $10 of the balance owing - whichever is greater)
  • 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.
Option 2: Low Interest Rate, Balance Transfer Options and Zero Fees - Westpac Fee Free Mastercard

​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. 
Option 3: 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)
Option 4: ANZ Low Rate Visa

Our view: The ANZ offers an attractive balance transfer with no annual fee. You'll need to pay the balance off within 24 months to avoid the 13.90% interest rate being charged on the remaining balance. 

​The deal:
  • Interest rate: 13.90%
  • Annual fee: $0
  • Balance transfer rate: 1.99% p.a. for 24 months
  • 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 ANZ's website)

3. Best Rewards and Cashback Credit Cards

For general rewards and cashback we have shortlisted two 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 Airpoint 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 on gifts, food and beverage, Mitre 10 and other hardware shops, flights and thousands of other options. There is a bonus offer for new card members of 400 bonus Airpoints when you apply by 28 October 2026, are approved and spend $1,500 on your new Amex Airpoints Platinum Card within the first 3 months. New Amex Card Members only.

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

Our pick is the SBS Visa - the only cashback card with no annual fee. In comparison, ANZ's CashBack Platinum pays more per $100, but charges $80 a year; the full comparison is on our cashback guide. 

Important:
  1. Terms and value differ: For example, ANZ's CashBack Platinum pays the most in cash at $0.83 per $100, TSB pays $0.80 but caps it at $60 a month, and the SBS Visa pays $0.67 with no annual fee and no cap.
  2. Bank rewards cards that pay in partner-store credit or points, rather than cash, are worth less to most people - $1 you can only spend at a partner store isn't the same as $1 off your bill.
Reward Card: 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, $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 Airpoint while 2 Membership Rewards points = 1 Qantas Frequent Flyer Point.
  • More details: American Express Gold Rewards Card

The American Express Platinum Card: An Alternative for High Spenders

Best For: People who fly a few times a year, stay in hotels and eat out, and will actually use the $850 of annual benefits. The card is only economic if those benefits are used - the American Express Gold Rewards Card earns the same points per dollar for a lower annual fee.

We Say: The American Express Platinum Card earns 2 Membership Rewards points per $1 - the same rate as the $200 Gold Rewards Card - so the extra $650 of annual fee buys benefits, not points: access to 1,550+ airport lounges including Centurion Lounges (Priority Pass for the Basic Card Member), up to $300 a year in dining credits, an ALL Accor+ Explorer membership with two free Stay Plus nights, Fine Hotels + Resorts benefits and travel insurance with $5 million of overseas medical cover. If you would use those anyway, the benefits can outrun the fee. If you would have to change how you spend to use them, they won't, and the Gold Rewards Card or the Airpoints Platinum is the better buy.

Know This: It is a credit card at 22.95% p.a. with a 2.50% foreign currency fee, so it suits only people who pay in full every month and use a 0% FX card overseas.

Basics:
  • Annual Fee: $850 (up to two Additional Cards at $0)
  • Airpoints or Membership Rewards? Membership Rewards
  • Annual percentage interest rate: 22.95% p.a.
  • Minimum credit limit: $5,000
  • Bonus offer: Earn 160,000 Bonus Membership Rewards Points when you apply online by 30 November 2026, are approved and spend $2,500 on eligible purchases on your new American Express Platinum Card within the first 3 months. T&Cs apply. New American Express Card Members only.
  • Earn Membership Rewards: 2 points for every $1 spent. Transfer them to Airpoints at 150 points per Airpoint or to Qantas at 2 points per Qantas Point, spend them through American Express Travel (Amex values them at up to 0.75 cents each), or take a statement credit ($250 costs 52,000 points).
  • Read more: American Express Platinum Card Review

Benefits include:
  • Airport lounges - 1,550+ lounges in 140+ countries, including Centurion Lounges and Priority Pass for the Basic Card Member (Strata Lounge Auckland, Manaia Lounges Christchurch and Queenstown).
  • Up to $300 a year in dining credits - $150 back when you spend $150 or more in one bill at a participating Dining Collection restaurant, twice a year (one per half-year).
  • ALL Accor+ Explorer membership - two free Stay Plus nights a year, each booked with a paid night, and up to 30% off dining at participating Accor hotels. Accor sells it for $379.
  • Fine Hotels + Resorts - guaranteed 4pm checkout, breakfast for two and upgrades when available at 1,800+ hotels booked through Amex Travel.
  • Travel insurance - $5 million overseas medical, $30,000 cancellation, $20,000 baggage, for you, your partner and dependent children, when you pay for your return trip on the Card. Pre-existing conditions excluded.
  • No fee for up to two Additional Cards.

Learn more or apply
Cashback 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

4. Best Small and Medium-Sized Business Credit Cards

There are a range of options:

Best Cashback:
Best Airpoints:
Best for Cash Flow Management:
Best for Expense Control:

5. Best Travel and FX Rate Credit Card

In 2026, ASB and ANZ innovated on FX fees:
However, few cards offer zero FX fees and rewards. One non-bank card that innovates is the Flight Centre Mastercard:
Flight Centre Mastercard

​Our View: With no international transaction fees (other than for cash advances) and Flight Centre Rewards, the Flight Centre Mastercard is strong for overseas travel and rewards. Competing cards charge between 0% and 2.5% on top of the value of the purchase.

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). This 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 Apple Pay™, Google Pay™ & Garmin Pay™.

Please note further conditions: 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 or visit the card's dedicated website

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 in the video below:
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: 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: 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 1.99% 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 updated its debit and credit card fees for everyday accounts in 2025, 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 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 holiday. 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 for every $100 spent. Airpoints 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 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 Woolworths, New World, PAK'nSAVE, SuperValue, BP, Caltex, GAS, Gull, Mobil 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)

Frequently Asked Questions (Specific to AMEX)

​What's the 400 bonus Airpoints offer, and how do I qualify?

New American Express card members get 400 bonus Airpoints if they apply by 28 October 2026, are approved, and spend $1,500 on eligible purchases within the first 3 months. Everyday spending counts - groceries, fuel, bills - so at $500 a month you'd clear the threshold with a month to spare. The bonus is credited to your Airpoints account once the $1,500 is reached, and at 400 Airpoints it's worth roughly two years of the $195 annual fee. Existing Amex card members aren't eligible. Apply for the AMEX Airpoints Platinum Card.

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.
  • Additionally, the card earns 1 Airpoints 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 Silver, Gold, Platinum or Black status, unlocking further perks like priority boarding.
  • Compared to bank-issued cards, AMEX, for most people who spend at vendors who accept AMEX, offers superior value. To maximise benefits, pay your balance monthly to avoid a 22.95% p.a. interest rate.

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, Platinum and Black status Koru 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, 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.

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.

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, 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.
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