ASB Visa Light Credit Card

Gold Award

The ASB Visa Light Credit Card has no annual fee and charges a low purchase rate of 13.50% p.a. It also offers 0% p.a. on balance transfered for 6 months plus 0% p.a. on purchases for 6 months when you spend $1,000 or more on any single eligible purchase. This card might be suitable for you if you are struggling to pay off your credit card debt or intend to carry a debt on your credit card. It might also be suitable as backup credit card since it charges no annual fee.

An alternative to this credit card is the Amex Airpoints credit card which also charges no annual fee but allows you to earn Airpoint rewards on purchases and offer 6 months interest free on purchases. You can compare all the credit cards with no annual fee and low interest rate credit cards on our website to help you make an informed decision.

Key Features

Purchase Rate: 13.5% p.a.
Cash Advance Rate: 22.95% p.a.
Balance Transfer: 0% p.a. for 6 months
Annual Fee: $0.00
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Not offered
Credit Limit:
Other Fees:

IMPORTANT NOTE: please review the credit card details on the provider's website again before applying.

ASB Visa Light Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the ASB Visa Light Credit Card to help you decide.

Pros

No annual fee
Low interest rate 13.5%
0% Balance Transfer Rate for 6 months

Cons

No rewards (other no annual fee credit cards such as the Amex Airpoints Credit Card offers Airpoints rewards}
Balance Transfer offer only for 6 months

What we like about the ASB Visa Light Credit Card

Low-Interest Rates

One of the standout features of the ASB Visa Light Credit Card is its relative low-interest rates. This makes it an attractive option for those who may carry a balance from month to month. Lower interest rates mean you will pay less in interest charges, helping you manage your finances more effectively.

No Annual Fee

We like the fact that the ASB Visa Light Credit Card charges no annual fee for owning your credit card..

Balance Transfer

The ASB Visa Light Credit Card offers 0% on balance tranfered to the card for 6 momths and then it changes to the standard purchase rate.

Drawbacks of the ASB Visa Light Credit Card

When evaluating the ASB Visa Light Credit Card, it is imporatnt to consider some potential drawbacks that may impact your decision.

No Rewards Program

One of the primary disadvantages of the ASB Visa Light Credit Card is that is does not offer any rewards. Unlike other credit cards, even some with no annual fees, offer rewards. If you are someone who values earning rewards on your purchases, this card might not meet your expectations.

Foreign Transaction Fees

Another drawback is the foreign transaction fees. When you use the ASB Visa Light Credit Card for purchases in a foreign currency, you will incur additional charges. It is important to be aware of these costs to avoid any surprises on your statement.

Short Balance Transfer offer

The balance transfer offer that the ASB Visa Light Credit Card offers of just 6 months is shorter than many of the other balance transfer options out there. Visit our Balance Transfer credit cards page.

Is the ASB Visa Light Credit Card Right for You?

The ASB Visa Light Credit Card is tailored for individuals who prioritise low-interest rates and no annual fees over extensive rewards programs. If you often carry a balance on your credit card, the low-interest rate can save you a significant amount of money over time. Additionally, this card is suitable for those who prefer straightforward, no-frills credit card options.

When evaluating if this card is the right fit, consider your spending habits:

Frequent Carriers of Balance: If you usually carry a balance from month to month, the low-interest rate will be beneficial.
Minimal Overseas Spending: This card may not be ideal if you frequently make purchases in foreign currencies due to the foreign transaction fees.
Simple Rewards Needs: If you do not require rewards and prefer a card with no annual fee, this could be a good match.

How to Apply for the ASB Visa Light Credit Card

Online Application Process

Applying for the ASB Visa Light Credit Card online is straightforward and can be completed in just a few minutes. You will need to provide some personal information, including your identification details and financial information. Follow these steps:

Click the "Apply Now" button on this page to visit the ASB website.
Select the ASB Visa Light Credit Card and click on the 'Apply Now' button.
Fill in the required fields with your personal and financial details.
Review your application to ensure all information is correct.
Submit your application and wait for a confirmation email.

In-Branch Application

If you prefer a more personal touch, you can apply for the ASB Visa Light Credit Card at any ASB branch. Here’s what you need to do:

Visit your nearest ASB branch.
Speak with a customer service representative about your interest in the ASB Visa Light Credit Card.
Provide the necessary documentation, such as identification and proof of income.
Complete the application form with the help of the representative.
Submit your application and wait for further instructions.

Approval Timeline

The approval timeline for the ASB Visa Light Credit Card can vary. Generally, you can expect to receive a decision within a few business days. If additional information is required, ASB will contact you to provide further details. Once approved, your new credit card will be mailed to you, and you can start enjoying its benefits.

Frequently Asked Questions

What is the minimum age to apply for the ASB Visa Light Credit Card?

You need to be at least 18 years old to apply for the ASB Visa Light Credit Card.

Do I need to be a New Zealand resident to apply?

Yes, you must be a New Zealand resident to be eligible for the ASB Visa Light Credit Card.

What kind of income do I need to qualify for this credit card?

You need to have a regular income, but the exact amount required can vary. It's best to check with ASB for specific details.

Are there any annual fees for the ASB Visa Light Credit Card?

No, there is no annual fee for the ASB Visa Light Credit Card. Check ASB's website for the most current fee information.

Does the ASB Visa Light Credit Card offer any rewards?

No, the ASB Visa Light Credit Card does not offer any rewards.

How long does it take to get approved for the ASB Visa Light Credit Card?

Approval times can vary, but it generally takes a few days to a week to get approved for the ASB Visa Light Credit Card.

Eligibility Criteria:

Your eligibility for this card would depend on a few criteria listed below. When you apply for a ASB credit card, ASB would ask you a few questions about the following criterias to determine your eligibility.

Income
Expenses
Debts
Assets
Savings
Investments

Documents:

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:

your most recent payslip or salary notice
copies of bank statements that show your pay or salary deposits
a letter from your employer confirming your income
an Inland Revenue Department (IRD) “summary of earnings” notice.

If you’re self-employed, you must supply:

signed financial statements for the past two years
a signed personal Statement of Financial Position
your personal tax return.

Proof of Identity:

A copy of one or two items from List 1. If you provide only one item from List 1, you must also provide one item from List 2.

List 1:

Current passport
New Zealand drivers licence
18+ card
Photo Credit Card

List 2:

Most recent bank statement
Debit card
Credit card
Community services card
Club or society card.

Are you interested in a free credit card? Compare ALL No-annual fee credit cards on our No annual credit cards page.

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What is the best credit card in New Zealand?

We've been asked this question a lot so we have compiled our pick of the best credit card in NZ but keep in mind that the best credit card for you depends on your personal circumstance and needs. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by popular credit card types as shown below. Use the top menu of the page to select more credit card types.