ASB Visa Rewards Credit Card

Gold Award

The ASB Visa Rewards Credit Card is a rewards credit card that allows you to earn either True Rewards or Everyday Rewards. For True Rewards, you get one True Rewards Dollar for every $150 you spend with your ASB Visa Rewards card, and in terms of value, one True Rewards Dollar = 1 New Zealand dollar. For Everyday Rewards, you get a $15 voucher with every 2,000 points earned and you earn twice the number of Everyday Rewards points when you also scan your Everyday Rewards card at participating partners.

The ASB Visa Rewards Credit Card charges an annual fee of $40 and a purchase rate of 20.95% p.a. It also offers 0% p.a. on balance transfered for 6 months. If you are interested in a rewards credit card we recommend you compared all credit cards with rewards on our website to help you make and informed decision.

Rewards Points Cash Equivalent

$100 spend earns you $0.66 cash equivalent^.

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases reward points cannot be redeemed for cash directly. See below to find out how the estimate was calculated.

Points Cash Equivalence Calculation

If 1 True Rewards Dollar equals $1 NZD when redeemed at the ASB True Rewards online store or partner stores and $150 spend earns you 1 True Rewards Dollar. Then $100 spend earns you (100/150) = $0.66 cash-equivalent when redeemed at the ASB True Rewards online store or partner stores.

Key Features

Purchase Rate: 20.95%
Cash Advance Rate: 22.95%
Balance Transfer: 0.00% for 6 months
Annual Fee: $40.00
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn True Rewards Dollars that can be redeemed instantly at our partner stores or online.
Credit Limit: Minimum credit limit of $500
Other Fees:

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

ASB Visa Rewards Credit Card Review

Pros and Cons

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

Pros

Earn True Rewards dollars or Everyday Rewards points
Earn one True Rewards Dollar for every $150 you spend With an ASB Platinum Rewards or get a $15 voucher with every 2,000 Everyday Rewards points earned

Cons

Limited benefits
Foreign Transaction Fee
Annual Fee

What we like about the ASB Visa Rewards Credit Card

Earn True Rewards or Everyday Rewards

With the ASB Visa Rewards Credit Card, you earn one True Rewards Dollar for every $150 you spend. These True Rewards Dollars can be used like New Zealand dollars at various retail partners or even invested into your KiwiSaver if you are with ASB. This program offers a straightforward way to get more value from your everyday spending. You also have the choice to earn Everyday Rewards instead.

Drawbacks of the ASB Visa Rewards Credit Card

One of the main drawbacks of the ASB Visa Rewards Credit Card is the annual fee. At $40 per year, this fee can add up, especially if you are not maximising the card's benefits. For some, the cost may outweigh the rewards earned.

The ASB Visa Rewards Credit Card comes with a high-interest rate of 20.95% per annum. This can be a significant drawback if you tend to carry a balance on your card. High-interest rates can quickly accumulate, making it harder to pay off your debt.

For a rewards credit card the ASB Visa Rewards Credit Card offers very limited benefits compared to other rewards credit card.

How to Maximise Your ASB Visa Rewards Credit Card

Optimising Reward Points

To get the most out of your ASB Visa Rewards Credit Card, focus on earning as many True Rewards Dollars as possible. Use your card for everyday purchases like groceries, fuel, and dining out. Remember, you earn one True Rewards Dollar for every $150 spent. Also, keep an eye out for special promotions that offer bonus points.

Managing Interest and Fees

To avoid high-interest charges, always try to pay off your balance in full each month. This way, you can take advantage of the 55-day interest-free period. Additionally, be mindful of the annual fee and consider whether the rewards you earn outweigh this cost. If you find the fees too high, you might want to explore other ASB credit card options.

Is the ASB Visa Rewards Credit Card right for me?

When considering the ASB Visa Rewards Credit Card, your spending habits play a crucial role. If you frequently use your credit card for everyday purchases, the rewards program can be quite beneficial. However, if your spending is minimal, the annual fee might outweigh the benefits.

It's always wise to explore alternative rewards credit cards. each credit card comes with its own set of benefits and drawbacks. Comparing these options can help you find the card that best suits your needs. Consider factors such as interest rates, annual fees, and reward program when making your decision.

In general, we recommend comparing all credit cards on our website to help you make an informed decision.

Frequently Asked Questions

What are the age and residency requirements for the ASB Visa Rewards Credit Card?

To apply for the ASB Visa Rewards Credit Card, you need to be at least 18 years old and a New Zealand resident.

What kind of income and credit score do I need to apply?

You should have a steady income and a good credit score. ASB will check your credit history during the application process.

What documents do I need to apply for the card?

You'll need to provide identification, proof of income, and proof of address when you apply.

What is the True Rewards Program?

The True Rewards Programme lets you earn points for every dollar you spend. You can use these points to get discounts or buy things from ASB’s partners.

Are there any travel insurance benefits with this card?

Yes, the ASB Visa Rewards Credit Card offers travel insurance coverage for you and your family when you use the card to book your travel.

What are the fees associated with the ASB Visa Rewards Credit Card?

The card has an annual fee and a high-interest rate on outstanding balances. Make sure to pay off your balance to avoid extra charges.

Eligibility Requirements:

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 balance transfer? Compare ALL balance transfer credit cards on our balance transfer NZ 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.