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The Best NZ Credit Cards for Earning Cathay Pacific Asia Miles

We explain the cards on offer, their fees, interest rates, perks, and how converting points to Cathay Pacific Asia Miles works.
Updated 3 August 2024
Summary
  • The only credit cards that earns Cathay Pacific Asia Miles in New Zealand is the American Express Gold Rewards, earning 2 Membership Rewards Points per NZ$1 spent, and selected BNZ cards. For AMEX, can then convert Membership Rewards Points into Asia Miles at a rate of 2:1 (2 Membership Rewards points = 1 Asia Mile). The estimated transfer time is up to one business day, and the minimum transfer amount is 500 Membership Rewards Points.
  • For the BNZ, 250 BNZ Points = 50 Asia Miles, and there is a minimum transfer of 500 BNZ Points. Two cards earn BNZ points, as outlined on the BNZ website, but the rate of earning is very low. For example, a $100 spent = 100 and 167 BNZ points with the BNZ Advantage Visa Classic and BNZ Advantage Visa Platinum, which translates to 20 and 33.4 Asia Miles. This is 20% to 33% of the points an AMEX card earns for the same spend, which we deemed to be very poor. For this reason, we have not focused on the BNZ cards, but you can review them here.
  • We calculate that both American Express cards effectively earn Asia Miles at a rate of $1 spent = 1 point, given the American Express earning rate ($1 = 2 Amex points) and the conversion rate (2 Amex points = 1 Asia Mile).

What can I get for every $1 I spend on my credit card?
  • With a return Cathay Pacific business class flight from Auckland to Auckland costing 130,000 Asia miles plus around $500 in taxes (other destinations outlined on their reward chart), you'd need to spend $130,000 on the card to earn the reward. Given that the flight cost in cash is around NZ$7,500 including taxes, we calculate the earn rate at around 5.4 cents per $1 spent, which is high and beneficial for cardholders. However, you'll need to spend above-average amounts and want to redeem Cathay Pacific business class tickets to benefit from the value, and there needs to be available seats, something which Cathay Pacific is scaling up as it returns to New Zealand post the pandemic.
  • American Express periodically offers signup bonuses of Membership Rewards Points, which can be automatically converted into Asia Miles, reducing the amount of spend to fund a flight award redemption.
  • With Cathay Pacific flying from Auckland (year-round) and Christchurch (over summer) to 100+ destinations in Asia and Europe, more New Zealanders are looking at Cathay Pacific-related credit cards to boost the miles you'll earn from flying.

In this guide, we look at the pros and cons of having an American Express credit card, the Asia Miles-earning options and must know facts. Our guide covers:
Read this First
  1. Our guide has been written to appeal to anyone looking to earn Asia Miles beyond flying Cathay Pacific, a OneWorld Alliance carrier or a partner airline.
  2. Cardholders earn Membership Rewards points; what you earn depends on how much you spend.
  3. Our guide is informational only and does not constitute financial advice.
  4. As stated above, American Express credit cards are provided directly by American Express. This means cards are not available through banks or finance companies.
  5. Cathay Pacific Asia Miles is one of many partners American Express offers points. You can transfer to any of the partners, as outlined in our review here.

Advertising Disclaimer: We may receive a payment if you sign up for a credit card via MoneyHub - please read our advertising policy for more details. 

MoneyHub Founder Christopher Walsh shares his views about the Cathay Pacific Asia Miles Program and Choosing a Miles-Earning Credit Card:

"New Zealand banks have never offered Cathay Pacific Asia Miles credit cards and left American Express to own the space with two credit cards. You'll earn 'Membership Rewards Points' which can be transferred into Asia Miles for free (at a rate of 2:1) on demand. This means 1 NZD spent on a points-earning American Express card = 1 Asia Mile".

"There's a lot to like about Cathay Pacific - its 10+ weekly flights from New Zealand to Hong Kong, extensive North Asian network and European footprint as well as competitive pricing for business class makes it a New Zealand favourite. It's arguable that Cathay Pacific sees New Zealand as a focus region".

"American Express helps bridge the gap by swapping its Membership Rewards points for Asia Miles. However, as with any credit card, all the benefits are lost if you don't pay the balance in full every month".

"Whatever you decide, make sure it's the best for your immediate needs. There's no point getting a card "for later," as you'll either overpay and/or get the wrong rewards. For this reason, we've explained the cards 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 is "no credit card".
Christopher Walsh
MoneyHub Founder

American Express Credit Cards - General and Specific Pros and Cons

Pros
  1. The only New Zealand credit cards to earn Cathay Pacific Asia Miles - $1 spent = 1 Asia Mile.
  2. Travel perks – both cards offer free travel insurance, bonuses for joining and bonuses.
  3. Favourable Customer Dispute Terms – if you experience fraud or wish to question a transaction, American Express will actively fight in your corner.
  4. Customer Service – With American Express, you have a direct line, but if you use Visa and Mastercard, you'll have to deal with your bank. Most New Zealand banks use a multi-option call centre for credit card help with standard office hours. Any troublesome issues may be ‘referred’ to Visa or Mastercard for ‘review’ and 'decision'. American Express operates specific 0800 hotlines which are open 24/7 and makes decisions directly.
  5. Cards are increasingly accepted at major New Zealand retailers – you can use an American Express card at Countdown, New World, PAK'nSAVE and other supermarkets. Other retailers include most petrol stations and airline websites.
  6. You don't need to convert points to Cathay Pacific's Asia Miles program - there are dozens of partners and reward options

Cons
  1. Many non-chain retailers don’t accept it – unlike Mastercard and Visa, which is primarily due to the high merchant fee Amex charges and favourable cardmember terms when disputes are raised.​
  2. Membership points partnerships – if you don’t spend at least $20,000 a year, a points-earning card would struggle to offer value.

MoneyHub's Cathay Pacific Asia Miles-Earning American Express Cards - apply in minutes for a credit card that delivers the best value for money based on your needs:

  • Our research highlighted two leading AMEX cards that reliably and consistently reward New Zealanders with Asia Miles and offer many benefits, perks and award-earning opportunities.
  • Please note both cards earn at a rate of 2 Membership Rewards points for every $1 spent. You can convert your balance to Cathay Pacific's Asia Miles; 2 Membership Rewards points = 1 Asia Mile.
  • For example, if you spend around $4,000 a month on your credit card, you'll earn around 48,000 Asia Miles per year.
  1. Our pick for earning Asia Miles (most popular): The American Express Gold Rewards Card - $200/year fee. You'll also get a $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.
  2. ​Important: MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. Most credit cards, with AMEX being no exception, charge interest rates that can make repayments challenging to manage.
Christopher Walsh
MoneyHub Founder

Beyond the Asia Miles Conversion - Explaining American Express Membership Rewards Points

Membership Rewards is American Express' awards program. You earn different numbers of points depending on where you spend. These points can be redeemed for Asia Miles as well as vouchers from supermarkets, travel agents and online.

For example, if a card earns 2 points for every $1 spent, $8,000 spent at Petrol Station Partners = 16,000 Membership Reward Points. This converts to:
  • 8,000 Asia Miles
  • $100 Bunnings Gift Card (1.26% reward value)
  • $100 New World Voucher (1.26% reward value)
  • 107 Air New Zealand Airpoints Dollars (1.34% reward value)

Membership Rewards - Our Thoughts:
  • If you spend $200 to $300 a week on groceries and petrol, the rewards are significant, and the flexibility of reward options makes the points useful.
  • Our view is that it's one of the best reward schemes available, when compared to the reward schemes offered by a number of New Zealand banks. You keep the flexibility of a range of choices to redeem American Express points which never expire.
  • You can read more about Membership Rewards Points here.

The Best Asia Miles Earning Credit Cards

There are currently two Asia Mile-earning American Express credit cards offered:

Best Card for Diners and Travellers: The American Express Gold Rewards Card

Basics:
​Annual Fee: $200
Reward program: Membership Rewards
Annual percentage interest rate: 19.95% p.a.
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. 
Earn Membership Rewards: The Gold Card earns at a rate of 2 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.
Conversion Rate: 2 Membership Rewards points = 1 Asia Mile

Read more: AMEX Gold Rewards Card Review

​Benefits include:
  • Two $100 dining credits every year - 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. The participating restaurants are located all over New Zealand, although Auckland, Wellington and Queenstown have the widest choices.
  • Comprehensive domestic and international travel insurance.
  • There is no supplementary card fee.

Learn more or apply

Applying for an American Express Credit Card

To apply for any American Express credit card, you will need to:
  1. Be over 18 years of age.
  2. Have a good credit history.
  3. Be a permanent resident or citizen of New Zealand.
  4. Meet the minimum income criteria for your chosen Card.
  5. If you are self-employed, you will need to have been trading for at least 18 months or 12 months if you have an existing American Express-issued Card.

You will need to provide:
  1. A copy of your New Zealand driver’s licence (if you hold one)
  2. Personal information, including your current address details.
  3. A current email address and a mobile or landline number.
  4. Financial Information, including your annual income, household income (if married/de facto), monthly living expenses, employment details, superannuation (if retired), or other sources of income.
  5. Details about any other credit cards and loans you have and their balances.

Final steps:
  1. American Express will perform a credit check to assess your financial history
  2. After that, American Express will assess your credit card application and provide a response in between 5 and 10 working days from when you submit your application.

Five Must-Know American Express Credit Card Facts

​Selecting a Membership Rewards Points American Express needs consideration


Our view:
  1. For anyone looking for a Cathay Pacific credit card, the entry-level American Express Gold Rewards Card ($200/year fee) offers value by way of travel insurance, dining vouchers and one Asia Mile with every $1 spent.
  2. As an example, spending an average of $2,500 per month will earn you over 30,000 Asia Miles.

Where you spend makes a big difference when it comes to earning Asia Miles

Important: Your ability to earn rewards will also depend on where you spend and whether or not American Express is accepted. Supermarkets, petrol stations and big retailers are almost certain to accept American Express, but independent retailers may be a different story. For this reason you'll need to have a debit card as a backup.

To earn Asia Miles, you'll need to sign up as a member via Cathay Pacific's website

Signing up is free and there's no annual fee - you can do so here.

American Express cardholders are offered curated tickets via ‘American Express Experiences’

Generally, American Express states that for certain concerts and events, cardholders have access to ‘the best-reserved tickets’.

American Express Membership Rewards Points don't expire

Membership Rewards points have no expiration date. However, points may be forfeited if you breach the terms and conditions of the program. You can also decide when to convert points into Asia Miles, and this usually takes around one business day to process and appear in your Asia Miles account.

Frequently Asked Questions

What credit cards can earn Asia Miles?

Only the American Express Gold Rewards Card ($200/year fee).

What credit card earns the most Asia Miles?

Both American Express cards give the same points (1 Point per $1 spent) since they earn the same amount of Membership Rewards Points, and the transfer/conversion rates to Asia Miles are the same. However, each card has a different one-off signup bonus which means the Gold card offers fewer Asia Miles miles in this sense.

What is the best frequent flyer credit card in New Zealand? Is it an Asia Mile-earning card or Air New Zealand Airpoints card?

The answer depends on how much you spend per year and your travel or lifestyle demands. Our Air New Zealand Airpoints-earning credit cards review offers alternative cards that arguably offer increased flexibility (by way of Airpoints' ease of use). Saying this, many New Zealanders happily earn Asia Miles using American Express cards and have no plans to change their habits.

Is an AMEX card worth the annual fee to earn Asia Miles?

Asia Miles credit cards have value if you can earn a decent number of miles and redeem them for business or first class flights. However, it all depends on how much you spend per year - the more you do, it's likely the greater the rewards relative to the annual fee.

Credit Cards vs Charge Cards - What's the Difference?

  • Charge cards look and behave like a credit card, but it doesn’t charge interest if you pay the balance late. Instead, a late fee is charged, which for an American Express Charge Card is currently $20 or 3.25% of the balance, whichever is the greater.
  • This means if you spend $5,000 and don’t make the repayment by the due date, you’ll be charged a whopping $162.50, which will be added to the balance. You’ll continue to pay the late fee every month until the balance is cleared.
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