Our Favourite Cards

​Know this: MoneyHub has received a number of complaints from users with Visa and Mastercard credit and debit cards when it comes to organising a chargeback. While fraud is almost always refunded promptly, disputed payments (where a service or product is not delivered or is sub-standard) cause issues. There must be a breach of contract for a chargeback to be successful - if you've paid for something that hasn't been provided or delivered, a chargeback is a sensible step (our chargeback guide has more details). 

However, many New Zealanders cite the issue of their bank, which issues the card, being unhelpful and unwilling to rectify the issue. Furthermore, both Visa and Mastercard will rarely assist a customer, instead directing the issue back to the issuing bank. This can cause customer frustration, and end with charges staying on the card. 

However, unlike Visa and Mastercard, American Express sits outside the banks and deals with customers directly as an issuer. This means that if a customer questions a transaction on their statement, American Express initiates an investigation and will likely contact the merchant to get further information on the transaction. American Express considers the facts and can refund the amount charged. 

Our Best Card for Chargebacks
You may wish to keep your existing Mastercard or Visa, but for big purchases where you want to be able to deal with the card issuer should something go wrong, the American Express Airpoints Card offers just that. 

Why we like it? With 50 Airpoints Dollars for signing up, a $0 annual card fee and the ability to earn 1 Airpoint Dollar per $100 spent, the American Express Airpoints Card offers many benefits with zero cost. 

Basics:
​Annual Fee: $0
Annual percentage interest rate: 0% p.a. for the first 6 months then 19.95% p.a.
Interest Free Period: up to 55 days
Bonus Offer: 50 Airpoints if you apply online, are approved, and spend $750 within the first 3 months​. This offer is available to new Card Members only. 

​Benefits include:

• The only No Fee option to earn Airpoints Dollars offered in New Zealand
• A reasonable earning rate of 1 Airpoint per $100 spent
• No supplementary card fee​​

The Wise, formerly TransferWise debit card lets you track your spending in real time, converts at the best exchange rate with super low fees, and is free for life. 

Why we like it? Using the card is akin to how banking in the future will likely be. You don't get statements, you don't get mail or promotions - instead, you get a live feed of all your purchases on your app, zero annual fees, super-low foreign exchange fees and the ability to open up local and international bank accounts all linked to the one card. We're huge fans of the simplicity and transparency this debit card offers. 

Basics:

1. Mid-Market Rate - Wise always uses the mid-market exchange rate (the one you will find on Google). In comparison, exchange rates used by banks, PayPal and travel money cards often conceal a markup. The use of mid-market rates is a major reason why using a bank is so much more expensive. 
2. Low foreign exchange conversion fees - most currencies (USD, AUD, GBP, EUR, CAD etc) convert at around 0.40% of the mid-market rate, whereas bank debit and credit cards can charge as much as 2.80%.  
3. Zero foreign transaction fees - you will never pay a fee for withdrawing money from an overseas ATM (banks charge as much as NZ$6 per transaction). Additionally, you can make free cash withdrawals up to NZ$350 (or NZD equivalent in foreign currencies) every 30 days
4. No annual fees - There is a one-off $14 charge to issue the Wise debit card, but no fees after that for having an account.

• Want to apply? Review the debit card in detail here (this link takes you to Transferwise's website)

​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. 

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

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

Card: The American Express Airpoints Card

Why we like it? With 50 Airpoints Dollars for signing up, a $0 annual card fee and the ability to earn 1 Airpoint Dollar per $100 spent, the American Express Airpoints Card offers many benefits with zero cost. 

Basics:
​Annual Fee: $0
Annual percentage interest rate: 0% p.a. for the first 6 months then 19.95% p.a.
Interest Free Period: up to 55 days
Bonus Offer: 50 Airpoints if you apply online, are approved, and spend $750 within the first 3 months​. This offer is available to new Card Members only. 

​Benefits include:

• The only No Fee option to earn Airpoints Dollars offered in New Zealand
• A reasonable earning rate of 1 Airpoint per $100 spent
• No supplementary card fee

Best General Rewards: The American Express Platinum Edge Credit Card
Basics:
Annual Fee: $149 
Airpoints or Membership Rewards? Membership Rewards 
Annual percentage interest rate: 2.99% p.a. for the first 6 months reverting to 19.95% p.a. thereafter
Interest Free Period: up to 55 days
Bonus Offer: 20,000 bonus Membership Rewards Bonus Points when you apply online, are approved, and spend $750 on your Card in the first 3 months of Card Membership (available to New Card Members only).

Benefits:

• Complimentary domestic return flight each year (seat + bag)
• Earn up to 3 Membership Rewards points per dollar spent
• 150 Membership Rewards Points = $1 Airpoints Dollars
• One return, direct flight every year within New Zealand (for example, Auckland to Queenstown, Wellington to Dunedin etc)
• Complimentary New Zealand overseas travel insurance (as long as you use the credit card when paying for one item of travel).
• Complimentary Mobile phone screen insurance (if you used your AMEX to pay for the phone, up to repair costs of $500) - see the full details here.
• Bonus Membership Reward Points per $1 spent: 3 per $1 spent at major supermarkets), 2 per $1 spent at major petrol stations. 

​Basics:
​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: 500 bonus Airpoints Dollars when you apply by 27 September 2021, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.
​Benefits include:

• Every $59 you spend = 1 Airpoints Dollar, and $250 spend = 1 Status Point
• Complimentary Domestic and International Travel Insurance
• Four lounge passes per year (two in Auckland Airport, two for either Sydney or Melbourne)
• ​Complimentary Mobile phone screen insurance (if you used your AMEX to pay for the phone, up to repair costs of $500)