Balance Transfer Credit Cards in NZ

A balance transfer credit card offers a low interest rate of as low as 0% p.a on balance transfered from another credit card for a fixed period. Below is a list of credit card balance transfer offers in New Zealand.

Updated: 27 Nov, 2023

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
Fee Free MasterCard Credit Card	Comes with a low rate of just 12.90% p.a. plus 0% balance transfer for the first 6 months and then 5.95% p.a. for the life of the balance transferred	12.90% p.a.	0% for 6 months. 5.95% for life of balance tran...	19.95% p.a.	$0.00	55 days More Info » Apply Now »
ASB Visa Light Credit Card	The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months	13.5% p.a.	0% p.a. for 6 months	22.95% p.a.	$0.00	55 days More Info » Apply Now »
Co-operative Bank Fair Rate Credit Card	The Fair Rate Credit Card has a very low purchase rate of 12.95% p.a. plus a balance transfer rate of 0% p.a. for 6 month. This might be a good card if you are looking for a credit card with a low interest rate and/or a card with a 0% p.a. balance transfer offer.	12.95% p.a.	0% p.a. for 6 months	12.95% p.a.	$20.00	55 days More Info » Apply Now »
Westpac Hotpoints MasterCard Credit Card	Earn 1 hotpoint for every $1 spent on your card up to (and including) $3,500 then 0.5 hotpoints for every $1 spent on your card each month	20.95% p.a.	0% for 6 months then 5.95% for life of balance transferred	22.95% p.a.	$40.00	55 days More Info » Apply Now »
Westpac Hotpoints Platinum MasterCard Credit Card	Earn 1.5 hotpoints for every $1 spent on your card up to (and including) $7,000 then 1 hotpoint for every $1 spent on your card each month	20.95% p.a.	0% for 6 months then 5.95% for life of balance transferred	22.95% p.a.	$70.00	55 days More Info » Apply Now »
Westpac Hotpoints World MasterCard Credit Card	Earn 2 hotpoints for every $1 spent on your card up to (and including) $15,000 then 1 hotpoint for every $1 spent on your card each month. Plus Priority Pass lounge access to over 1,300 airport lounges around the world and overseas travel insurance for up to 120 days per round trip.	16.95% p.a.	0% for 6 months then 5.95% for life of balance transferred	22.95% p.a.	$285.00	44 days More Info » Apply Now »
Westpac Airpoints MasterCard Credit Card	Earn 1 Airpoints Dollar for every $150 spent on the card plus 0% on balance transfer for 6 months then 5.95% p.a. for the life of the balance transferred	20.95% p.a.	0% for 6 months then 5.95% for life of balance transferred	22.95% p.a.	$70.00	55 days More Info » Apply Now »
Westpac Airpoints Platinum MasterCard Credit Card	Earn 1 Airpoints Dollar for every $110 spent on your card up to (and including) $7,000 then 1 Airpoints Dollar for every $220 spent on your card each month plus get 0% on balance transferred for 6 months then 5.95% for the life of the balance transferred	20.95% p.a.	0% for 6 months then 5.95% for life of balance transferred	22.95% p.a.	$125.00	44 days More Info » Apply Now »
Westpac Airpoints World MasterCard Credit Card	This card is a touch of everything including Airpoints, a relatively low interest rate of 16.95% and a balance transfer offer of 0% for 6 months then 5.95% for life of balance transferred	16.95%	0% for 6 months then 5.95% for life of balance transferred	22.95%	$310.00	44 days More Info » Apply Now »
ASB Visa Rewards Credit Card	Get one True Rewards Dollar for every $150 you spend on your ASB Visa Rewards. One True Rewards Dollar equals one New Zealand dollar	20.95%	0.00% for 6 months	22.95%	$40.00	55 days More Info » Apply Now »
ASB Visa Platinum Rewards Credit Card	Get one True Rewards Dollar for every $100 you spend plus travel insurance for you, your spouse and your dependent children	19.95%	0% p.a. for 6 months	22.95%	$80.00	55 days More Info » Apply Now »
ANZ Low Rate Visa Card	Features a low interest rate of 12.90% and a balance transfer rate of 1.99% for 24 months	12.90% p.a.	1.99% p.a. for 24 months	19.95% p.a.	$0.00	55 days More Info » Apply Now »
Kiwibank Zero Visa Credit Card	A low rate credit card with no annual fee and a 1.99% balance transfer for 6 months	12.90% p.a.	1.99% p.a. for 6 months	12.90% p.a.	$0.00	55 days More Info » Apply Now »
Air New Zealand Airpoints Low Fee Visa Credit Card	Earn 1 Airpoints Dollar™ for every $200 spent on eligible purchases.	16.90% p.a.	1.99% p.a. for 6 months	16.90% p.a.	$50.00	44 days More Info » Apply Now »
Kiwibank Air New Zealand Airpoints Platinum Visa Credit Card	Earn 1 Airpoints Dollar™ for every $115 spent on eligible purchases.	20.95%	1.99% p.a. for 6 months	20.95%	$180.00	44 days More Info » Apply Now »

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Quick Links

• 0% Balance Transfer Credit Cards
• Long term Balance Transfer Credit Cards
• Balance Transfer Credit Cards with Low Standard Interest rates
• Best Credit Card Balance Transfer

What to consider before getting a Balance transfer credit card

It is important to remember that even with a balance transfer offer of 0% you must still make your minimum monthly repayments in order not to incur a monthly penalty fee, so it pays to review the penalty fee before applying for a balance transfer.

It is also important to note that credit card balance transfer offers do NOT apply to newly incurred debt on your new credit card, and once the credit card balance transfer period lapses, you would be charged at the normal purchase rate for the balance transferred. Below are some of the frequently asked questions about credit card balance transfer offers to help you with your search.

Frequently Asked Questions (FAQs) about credit card Balance Transfer offers

• Should I apply for a Balance transfer NZ credit card?
• When is a Balance transfer credit card NOT suitable for me?
• Are there any hidden fees or surprises with Balance transfer credit cards?
• Are there any Balance transfer NZ credit cards with Low interest rate?
• Does the Balance transfer rate apply to new debt too?
• Are there Balance transfer offers longer than 12 months?
• Do I have to pay a setup or joining fee?
• What is the best credit card Balance transfer offer?
• Do I have to pay a minimum repayment each month with my Balance transfer credit card?
• Can I pay off my transferred balance before the Balance transfer period lapses?
• How are my Balance transfer repayments allocated?
• Can I do a second Balance transfer to another bank?
• How do I apply for a Balance transfer credit card?
• Do I have to let my old bank know when I transfer my credit card balance?
• What is in it for the bank to offer a 0% balance transfer rate?
• Are there any 0% balance transfer credit card offers?
• How do I transfer credit card balance?

Should I apply for a Balance transfer NZ credit card?

If you currently have a significant credit card debt, then a balance transfer credit card might be suitable for you. If you expect to take on more credit card debt, then you might want to choose a balance transfer credit card with a low ongoing purchase rate.

When is a Balance transfer credit card NOT suitable for me?

If you do not have a current credit card debt, then it does not make sense to get a balance transfer credit card – you might be better off with a low rate credit card instead.

If you have a small credit card debt, but expect to take on a significant credit card debt in the future, then you might benefit more from a low interest credit card with a balance transfer offer.

Are there any hidden fees or surprises with Balance transfer credit cards?

Some credit card providers might charge a setup fee, but this is NOT common in New Zealand.

What is important to note is that even with a balance transfer rate of 0% you would still be required to make a minimum repayment of about 2% to 3% of your credit card debt each month, and if you miss this monthly repayment, then a penalty fee would be charged each month and added to your credit card debt. Furthermore, these penalty fees would begin to incur interest at the normal higher interest rate NOT the balance transfer rate, so it is worth paying your minimum repayments.

Are there any Balance transfer NZ credit cards with Low interest rate?

Yes, there are several balance transfer credit cards with low interest rates. You can use our credit card finder tool to filter through all the credit cards on our website to find exactly what you are looking for, but we have also put together a list of these low rate credit cards with balance transfer offers just for you.

Does the Balance transfer rate apply to new debt too?

No, the balance transfer rate applies only to the balance transferred. Any new debt on your credit card would incur interest at the standard purchase rate. If you expect to incur more debt then we suggest you use your credit card finder tool to find a balance transfer credit card with a low purchase rate.

Are there Balance transfer NZ offers longer than 12 months?

Yes, some balance transfer offers last for the lifetime of the balance transferred, but these tend to have a slightly higher balance transfer rate.

Do I have to pay a setup or joining fee for a Balance transfer credit card?

Setup or joining fees for balance transfer offers are not common in New Zealand, but most balance transfer credit cards have an annual fee of between $30 to $150.

What is the best credit card balance transfer offer?

The best balance transfer credit card depends on your personal circumstance, however, we have put together a list of our favourite balance transfer offers on our Best Credit Card Balance Transfer page.

Do I have to pay a minimum repayment each month with my Balance transfer credit card?

Yes, you would usually have to pay a minimum repayment which is usually between 2% to 3%, and a failure to make your minimum repayment each month would result in a penalty fee charged to your account, but considering the savings from the low balance transfer rate, it might still be worth your while.

Can I pay off my transferred balance before the Balance transfer period lapses?

Yes, you can pay off your balance transferred as quickly as you like. The balance transfer period is simply the period in which the balance transfer rate is applied to the transferred credit card balance.

How are my balance transfer repayments allocated?

Any repayments that you make goes towards paying off your transferred balance first, then your newly incurred debt. This means you would have to pay off your entire transferred balance first in order to be able to start paying off your newly incurred debt. Keep in mind, you would be charged at the normal higher rate for newly incurred debt.

Can I do a second balance transfer to another bank?

Yes, you can transfer your balance to another bank or provider when you balance transfer period lapses. This is a good way to help you pay off your debt fast.

How do I apply for a balance transfer credit card?

It’s simple, you can either do the transfer right from the start or get the credit card first, and then transfer your balance to the new credit card later. If you plan to do the balance transfer after you have secured your credit card, keep in mind there is usually a minimum window to do this to get the introductory rate.

Follow the steps below to transfer your balance across to a new card.

• First you need to find a credit card balance transfer offer that is suitable for you. You can use our credit card finder tool to find the right credit card for your personal circumstance.
• Make sure you choose a balance transfer credit card with a suitable credit limit for you. Note that your approved balance transfer amount could be as low as 80% of your approved credit limit. It is also possible that between the time you request a transfer and when it happens, you might incur further interest, late payment fee and annual fee on your old credit card. You should contact your current bank to get an estimated final payout amount based on when you expect the balance to be transferred.
• Click on the “go to site” link on our website to apply for your selected balance transfer credit card.
• Wait for your application to be approved. This can take between 2 minutes to 1 week. Usually, you would get an indication of how long your application would take during the application process
• Once you get your new card you should contact your old provider to let them know if you wish to cancel your old card to avoid paying any annual fees.

Do I have to let my old bank know when I transfer my credit card balance?

Depends, in most cases your new credit card provider would sort that out, but you need to provide the details of your bank to your new credit card provider to allow them to do this.

It might be useful to contact your current provider to find out what your final balance would be before arranging the balance transfer.

You might also want to contact your old credit card provider to cancel your old card once the balance transfer is complete to avoid paying the annual fee if applicable.

What is in it for the bank offering 0% balance transfer rate?

It does seem odd that your new credit card provider would charge you practically nothing for 6 to 18 months, and you are free to transfer your balance to a new credit card provider at any time, but credit card providers are banking on you staying with them after the balance transfer period lapses – there is also a good chance you might incur new debt on your credit card while with them which would incur interest at the normal higher rate. Also, if you fail to make your minimum repayments, you would be charged a penalty fee which starts to incur interest at the normal higher purchase rate.

Of course, if you manage to pay off your credit card debt while with your new credit card provider, then you are more likely to stay with the new provider moving forward.

Are there any 0% balance transfer credit card offers?

Yes, many banks and card providers offer zero interest balance transfer in NZ. You can use our credit card filters on this page to narrow down the list of credit cards to show only interest free balance transfer credit cards or visit our dedicated 0% balance transfer offers page.

How do I transfer credit card balance?

If you would like to transfer your existing credit cards balance to a new credit card then you can start by finding a suitable balance transfer credit card by visiting our Balance Transfer page and use the filters to find a suitable card.

After you have found a suitable balance transfer credit card you can simply click through by hitting the “go to site” button to go to the credit card provider’s website to get your credit card online or to arrange a visit to your local store.

If you have any questions regarding credit card balance transfer NZ offers please feel free to contact us, but please keep in mind that we do not offer advice on which credit card to get or which reward program to join – we simply offer the information you need to make a decision.

If you are unsure about which type of credit card to get then visit our home page to start your credit card search from there. We hope you enjoy our website and that we are able to help you find the right credit card to suit your needs.

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