Top 5 Credit Cards in New Zealand
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- Опубликовано: 24 июл 2024
- New Zealand has several banks, finance companies, and retailers that offer credit cards. But which of these is actually worth it? I reviewed all the credit cards currently on offer from the likes of ANZ, BNZ, ASB, Westpac, American Express, SBS, Latitude, Hummgroup, Kiwibank, Farmers, The Warehouse, and Countdown, and selected five which I currently believe are leading the market.
Credit cards come with a range of features. Some offer cashback, others rewards such as airmiles and insurances, reward points, low interest rates, balance transfer rates, sign-on bonuses, and many others. These will benefit users depending on their personal circumstances only.
MoneyHub have written a great article exploring their Best Credit Cards at www.moneyhub.co.nz/best-credi...
These views are my own, are simply opinion, and do not constitute advice. Individuals should seek professional help when engaging with financial products.
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// TIMESTAMPS
► 0:00 Intro
► 0:36 1st Consideration: Providers
► 0:56 2nd Consideration: Processors
► 1:34 3rd Consideration: Benefits
► 2:11 Card 1: ASB Visa Light
► 3:43 Card 2: Amex Airpoints Platinum
► 5:19 Card 3: Westpac Airpoints Platinum
► 6:23 Card 4: BNZ Advantage Platinum
► 7:20 Card 5: SBS Visa Credit
► 7:57 Summary Table
► 8:20 Outro
Disclaimer:
I am not a financial adviser. This video is for education and entertainment purposes only. Seek professional help before making any investment decision.
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What's your favourite credit card?
How about Gem or Q card...?Thanks
I have the American express Airpoints basic card. There are no annual fees, the spending $ per Airpoint is higher than the premium at $100, the minimum income is 35K. I have an additional card linked to the account for my husband and we use it at everyplace that accepts it. With our Groceries, phone bill, online shopping for both of us we get about 25 Airpoints a month. Occasionally there is $ per point upgrades to premium so this doubles some months. For big purchases we like to prepay the card and and find a place that accepts it. It maximizes the points we get.
Great content, thank you!
Hi Justine, sounds like you know exactly how to get the most out of the cards! Thanks for watching!
Subscribed really needed the information as struggling to get my first Amex or travel reward card..
Between gold reward points or platinum airpoints.
I feel gold is great as I can use it on multiple airlines and hotels and such to transfer points but no lounge, no insurance etc
But platinum airpoints, sign up bonus of 500 airpoints right now. Travel insurance, and lounge access. But airpoints I seem to fly a lot mix with Singapore airline, emirates sometimes air nz… so not sure if airpoints will be perfect…
I mean would be nice to use points in many places…
Either way I think both are great… that’s how I found your videos looking for the best option before signing up
Thanks for watching - I hope the video was useful! I actually watched one of your videos last year about Kamana Lakehouse - my girlfriend and I were looking around for information about staying there and came across your video too! Great to connect with another kiwi creator :)
For big spenders and those wanting to redeem points from a lot more airlines, the amex platinum card is also a good bet. A big annual fee but if you travel to a few high end places each year and want to travel business class, its probably the best card in NZ. Free lounge access , dining credits , free nights at hotels etc etc
Great video though, hard to find good content for cc's in NZ.
Absolutely right Adnan! Just hope those with the card are making full use of the complementary perks and getting their money's worth. Thanks for watching!
Awesome video mate! :)
Thanks for watching Jake!
Very well explained thankyou..
Hi Gul, thanks for watching and appreciate your kind words! :)
I use ANZ Platinum Cashback card. I have an average monthly spending of about 1700 nzd. This is mainly because I pay my rent (airbnb) using my credit card. Should I change my credit card to maximise my rewards? I would like to know your opinion.
Thank you for this wonderful video. What can you say about farmers mastercard?
Thanks for the kind comment! Looking at the card, it has an annual fee of $50 and an interest rate of 25.95%. For every $10 spend you earn 1 farmers point. A $20 voucher 'costs' 250 points, meaning you'd have to spend $2,500 to get back $20 in store credit, an approximate return of 0.8%. One of my previous videos goes through the returns of a few other cards which might be useful for sizing up this one studio.ruclips.net/user/videoDg1_kUhidPA/edit . Thanks for watching
Any comments on Amex Gold card? Is there any charges when using credit card at petrol station/supermarket in NZ? Thanks!
Hey Kai Chun - thanks for watching the video! The Amex Gold is definitely another great card - I like the dining benefit which effectively returns the annual fee back to you, and the fact the card is made of metal is pretty awesome! However as the rewards come in the form of Amex points, I find the conversion to be not as good as the Airpoints Platinum card, however if you don't fly with Air New Zealand or use their online store often, the Amex points may be more useful. All comes down to how you'll be using the card, and the dining credits should definitely be used, it's too good to pass up! As for the charges, I haven't been charged any fees for using my Amex Card at large chain stores such as Z Energy, BP, Countdown etc.
Why not the - ANZ Airpoints Visa Platinum?
Hi Maarten, thanks for watching! I decided to instead rank the Westpac card as it too has the $85 = 1 Airpoint benefit, however at a $25 discount in annual card fees. ANZ pack a couple more benefits into their card and have a lower interest rate if a balance is carried, however I thought on the balance Westpac may better suit the average user. The $8k minimum credit limit I also find disturbing, especially as banks generally use this in their UMI calculations for home loan applications which may reduce their borrowing capacity (3% x Card Limit = "$240 monthly expense" in the banks eyes). Depends on the user and what benefits they value most of course!
@@BrentColeman Thanks for the reply, I'm new to credit cards so trying to get my head around it all! I'm not sure if you would be able to help or give advice but my current situation is.... I have a 6 figure business with a good amount of costs, cameras & computers etc. I'm going to be travelling ALOT (almost full time, I make travel videos etc) and I'm most interested in Qantas as the airline to build points towards. I currently bank with ANZ. I'm considering not going down the rabbit hole of learning all this as I feel it might take up too much time, just thought id ask if you had any recommendations for someone in my position? Maybe there is an obvious card to choose, but probably not. Any response is much appreciated!
Well done mate, takes a lot to build a business to that level and to build as big a following on RUclips as you have! I understand up until about 2017 ANZ had a card that generated Qantas points, but unfortunately has since been discontinued. A good place to look at, provided AirNZ airpoints are of no use, may be cashback cards, provided your annual spend creates a larger net cashback than the annual cost of the card. All comes down to your personal preference and situation, but hope this helps give a starting point.
I have recently applied for an asb platinum card what is your opinion on this card
Heya! I created a video a while ago looking at the value of reward points offered by the banks on their credit cards. Hopefully it's still relevant! ruclips.net/video/Dg1_kUhidPA/видео.html
ASB visa ligjht all the way
Which one is most cheaper
Heya! Have a look around online for cards with no annual fee. MoneyHub has a great article you can find here: www.moneyhub.co.nz/free-credit-cards.html
Is Gem Visa a good one? I just started using it and was shocked when I saw this video, didn’t know ASB has one
I had considered a GEM visa when I was buying stuff for my home. However when I saw they had a $55 establishment fee and a $52 annual fee I figured I'd be better off just using a regular credit card and paying it off after a month. e.g. if I borrow $1,000 to buy a fridge at Harvey Norman, the fee % in my first year is effectively 10.7% (55+52 / 1000). Add to this most retailers only allow 6mths interest free, meaning if you only make a single purchase with the card you'll pay an effective rate of 8.1% for 6mths borrowing despite it being "interest free" (55+26 / 1000). If a financier doesn't make money by charging interest, you've got to look elsewhere to find how they make their money (fees, merchant fees, higher product cost, etc.)!
778.000.000.000.000,-dirham.
Hi what if I go over my credit card limit by $30? How much fees do you think VISA will charge me? Thanks
Hi, I don't believe any transactions exceeding your limit will be permitted. You might need to call the provider and request an increase in limit.
@@BrentColeman nah is my fault for not keeping an eye on the balance. What fees do they usually charge in NZ if people go over the limit?
love this page. @brentcoleman where can I get update info by you?
Hi Chrismal - you can find me on Instagram at @brentcolemaninvesting