Compare credit cards in New Zealand

Most NZ banks don't publish a minimum score, but generally a score above 500 (on the Centrix scale) gives you a good chance of approval for a standard card. Premium rewards cards may require higher scores and a minimum income of $30,000–$50,000. If your score is lower, consider a low-rate or basic card to build credit first.

Online applications are usually assessed within 1–5 business days. Once approved, the physical card arrives by post within 7–10 days. Some banks offer instant virtual card numbers through their app so you can start using the card online immediately.

Some NZ banks offer student credit cards with lower limits ($500–$2,000) and relaxed income requirements. New residents with a valid visa and NZ address can also apply, though options may be limited until you build a local credit history. A no-annual-fee card is often the easiest starting point.

Paying only the minimum (usually $25 or 2–3% of the balance) means interest compounds on the remaining amount at 19–22% p.a. A $5,000 balance at 20% interest with minimum payments could take over 20 years to clear and cost more than $8,000 in interest alone. Always aim to pay the full balance each month.

If the card has an annual fee and you're not using the benefits, cancelling saves money. However, closing a long-standing card shortens your credit history, which can temporarily lower your score. If the card is fee-free, keeping it open (with occasional small purchases) maintains your credit history length.