Choosing a credit card in New Zealand can feel overwhelming — there are more than 20 options across eight banks, each with different rates, fees and perks. This guide breaks down the best cards by category so you can find the right fit for how you actually spend.
All rates and fees below are current as of April 2026. For a live, filterable comparison see our credit card comparison tool.
Best credit cards in New Zealand — April 2026
Here are our top picks across every category, at a glance:
| Category | Card | Interest rate | Annual fee | Why it stands out |
|---|---|---|---|---|
| Lowest rate | TSB Low Rate Mastercard | 11.95% | $20 | Cheapest purchase rate in NZ; 0% balance transfer for 6 months |
| Best no-fee | Westpac Fee Free Mastercard | 12.90% | $0 | $0 annual fee, low rate and 0% foreign transaction fee |
| Best Airpoints | ANZ Airpoints Visa Platinum | 20.95% | $150 | 1 Airpoints Dollar per $75 spent plus travel insurance |
| Best cashback | ANZ Cashback Visa Platinum | 20.95% | $80 | 1% cashback on eligible purchases |
| Best for travel | ASB Visa Flex | 17.95% | $0 | $0 fee and 0% foreign transaction fee — ideal overseas card |
| Best value rewards | SBS Visa Credit Card | 19.65% | $0 | No annual fee with cashback; Canstar Best Value 5 years running |
Best low-interest credit cards
If you carry a balance from month to month — even occasionally — the interest rate is the single most important factor. A few percentage points can save you hundreds of dollars a year. Here are the six lowest-rate cards available in April 2026:
| Card | Purchase rate | Cash advance rate | Annual fee | Interest-free days |
|---|---|---|---|---|
| TSB Low Rate Mastercard | 11.95% | 11.95% | $20 | 55 |
| Kiwibank Zero Visa | 12.90% | 12.90% | $0 | 55 |
| Westpac Fee Free Mastercard | 12.90% | 19.95% | $0 | 55 |
| Co-operative Bank Fair Rate | 12.95% | 12.95% | $20 | — |
| BNZ Lite Visa | 13.50% | 22.95% | $10 | 44 |
| ANZ Low Rate Visa | 13.90% | 20.95% | $0 | 55 |
Our pick: the TSB Low Rate Mastercard offers the lowest purchase rate in New Zealand at 11.95%, and uniquely charges the same rate for cash advances. It also includes a 0% balance transfer for six months, making it an excellent choice if you are consolidating debt. The $20 annual fee is easily offset by the interest savings.
If you want zero fees altogether, the Kiwibank Zero Visa and Westpac Fee Free Mastercard both sit at 12.90% with no annual fee. The Westpac card adds 0% foreign transaction fees, which makes it a strong dual-purpose option for anyone who shops online from overseas retailers or travels regularly.
Best rewards and Airpoints credit cards
Rewards cards make sense if you pay your balance in full every month — otherwise the higher interest rate (typically 20–21%) will quickly erase the value of any points or Airpoints Dollars earned.
Airpoints cards
| Card | Annual fee | Earn rate | Travel insurance | FX fee |
|---|---|---|---|---|
| ANZ Airpoints Visa | $65 | 1 per $160 | No | 1.3% |
| Westpac Airpoints Mastercard | $70 | 1 per $150 (up to $3,500/mo) | Yes | — |
| ANZ Airpoints Visa Platinum | $150 | 1 per $75 | Yes | 1.3% |
| Westpac Airpoints Platinum Mastercard | $310 | 1 per $95 (up to $15,000/mo) | Yes | — |
Our pick: the ANZ Airpoints Visa Platinum offers the fastest uncapped earn rate — 1 Airpoints Dollar for every $75 spent — plus complimentary travel insurance. At $150 per year you need to spend roughly $11,250 annually just to cover the fee in Airpoints value, so it works best if your monthly spending is above $1,000.
For lighter spenders, the ANZ Airpoints Visa at $65 per year keeps the fee low while still earning non-expiring Airpoints Dollars.
Cashback and points cards
| Card | Annual fee | Reward | Effective rate |
|---|---|---|---|
| ANZ Cashback Visa Platinum | $80 | 1% cashback | 1.00% |
| TSB Platinum Mastercard | $90 | $1 per $100 | 1.00% |
| SBS Visa Credit Card | $0 | $1 per $150 | 0.67% |
| ANZ Cashback Visa | $40 | 0.5% cashback | 0.50% |
| Westpac hotpoints Mastercard | $40 | 1 hotpoint per $1 | Varies |
| ASB Visa Platinum Rewards | $80 | $1 per $150 or points | 0.67% |
Our pick: the ANZ Cashback Visa Platinum returns a clean 1% on every eligible purchase with no cap on earning. If you spend $2,000 per month, that is $240 cashback per year — well above the $80 fee.
For a no-fee option, the SBS Visa Credit Card returns $1 for every $150 spent (0.67%) with zero annual fee. It has won Canstar's Best Value Rewards for five consecutive years.
ASB is also running a $300 cashback promotion on its Visa Platinum Rewards card until 10 May 2026, which can make it worthwhile in the first year even at a lower ongoing earn rate.
Best no-annual-fee credit cards
If you prefer simplicity and dislike paying for a card you might not use every month, these five options charge nothing to hold:
| Card | Interest rate | FX fee | Key feature |
|---|---|---|---|
| Westpac Fee Free Mastercard | 12.90% | 0% | Low rate + no FX fee |
| Kiwibank Zero Visa | 12.90% | — | Same rate for purchases and cash advances |
| ANZ Low Rate Visa | 13.90% | 1.3% | Lowest ANZ rate |
| ASB Visa Flex | 17.95% | 0% | No FX fee — best for overseas spending |
| SBS Visa Credit Card | 19.65% | — | Cashback rewards at no cost |
The standout here is the Westpac Fee Free Mastercard — it combines a genuinely low 12.90% rate with $0 annual fee and 0% foreign transaction fees. It is one of the most versatile cards on the market and suits anyone who wants a straightforward, low-cost option that also works well overseas.
Credit card vs debit card: which should you use?
This is one of the most common questions we see, and the answer depends on your spending habits:
| Feature | Credit card | Debit card |
|---|---|---|
| Spending limit | Credit limit set by bank | Limited to your account balance |
| Interest | Charged if you carry a balance | None — you spend your own money |
| Rewards | Often available (points, cashback, Airpoints) | Rarely available |
| Purchase protection | Chargeback rights under card network rules | More limited dispute options |
| Building credit history | Yes — helps establish a credit record | No impact on credit score |
| Overspending risk | Higher — spending borrowed money | Lower — spending your own funds |
A credit card makes sense if you can consistently pay the full balance each month — you get interest-free days, better purchase protection and potentially rewards at no cost. If you tend to carry balances, a debit card removes the temptation to overspend and avoids interest charges altogether.
Many New Zealanders use both: a debit card for everyday spending and a credit card for larger purchases, travel or earning rewards. For a full comparison of debit options, see our debit card comparison.
How to choose the right credit card in NZ
With so many options, it helps to narrow down what matters most to you. Here is a simple framework:
1. Do you carry a balance?
If yes, ignore rewards entirely and pick the lowest rate. The difference between 11.95% and 20.95% on a $5,000 balance is roughly $450 per year — no rewards programme comes close to offsetting that. Start with the credit card comparison filtered by interest rate.
2. What do you value most?
If you always pay in full, the interest rate is irrelevant. Instead, focus on the reward that matches your lifestyle: Airpoints if you fly Air New Zealand regularly, cashback if you want simplicity, or points if you prefer flexible redemption.
3. How much do you spend per month?
Higher-fee premium cards only make sense above a certain spending threshold. For example, the ANZ Airpoints Visa Platinum ($150/year) needs about $940 per month in spending before the Airpoints earned cover the annual fee. Below that, a no-fee card will likely serve you better.
4. Do you travel or shop overseas?
Foreign transaction fees of 1.3–2.25% add up fast. If you regularly buy from overseas retailers or travel internationally, prioritise cards with 0% foreign transaction fees — specifically the Westpac Fee Free Mastercard or the ASB Visa Flex.
5. Compare the total cost
Annual fee plus interest (if any) minus rewards earned gives you the true cost of a card. Our credit card comparison page lets you sort and filter by all of these factors in one place.
Pro tip: balance transfers
If you are currently paying high interest on an existing card, consider a balance transfer. TSB offers 0% for six months on its Low Rate Mastercard, and the Co-operative Bank matches this on the Fair Rate Credit Card. Kiwibank offers a 1.99% balance transfer rate for six months on the Zero Visa. Moving your balance could save you hundreds while you pay it down — just make sure you clear the debt before the promotional period ends.
If you are comparing credit cards alongside other borrowing options, see our guide on personal loans — sometimes a low-rate personal loan is a smarter way to consolidate credit card debt than a balance transfer.
Frequently asked questions
What is the best credit card in New Zealand?
It depends on how you use it. For the lowest interest rate, the TSB Low Rate Mastercard leads at 11.95%. For rewards, the ANZ Airpoints Visa Platinum offers the fastest Airpoints earn rate. For a no-fee all-rounder, the Westpac Fee Free Mastercard combines a low rate with $0 annual fee and no foreign transaction fee. Use our comparison tool to filter by what matters most to you.
What is the lowest interest rate credit card in NZ?
As of April 2026, the TSB Low Rate Mastercard has the lowest purchase rate in New Zealand at 11.95% p.a., with the same rate applying to cash advances. The next lowest are the Kiwibank Zero Visa and Westpac Fee Free Mastercard, both at 12.90%.
Should I get a credit card or a personal loan?
Credit cards work well for short-term, revolving spending — especially if you pay in full each month and benefit from interest-free days. A personal loan is usually better for larger, one-off expenses because the interest rate is typically lower (often 7–13%) and you have a fixed repayment schedule. If you are carrying ongoing credit card debt above $3,000, consolidating it into a personal loan could save you money.
Do I need to earn a minimum income to get a credit card?
Most basic and low-rate cards in NZ do not have a stated minimum income requirement. However, premium and platinum cards often do — for example, the ASB Visa Rewards requires $30,000 and the ASB Visa Platinum Rewards requires $50,000. Banks will also assess your overall ability to repay as part of their responsible lending obligations under the CCCFA.
Are credit card rewards worth it in New Zealand?
Only if you pay your balance in full every month. A card charging 20.95% will cost you roughly $1,050 per year in interest on a $5,000 balance — far more than any rewards you would earn. If you do pay in full, a 1% cashback card returns $240 on $24,000 annual spending, which comfortably covers a typical annual fee of $40–$80.
Compare credit cards side by side
See live rates and fees from every NZ bank, filter by card type, and find the card that fits your spending. Our comparison table updates automatically with the latest data.