BNZ Advantage Visa Platinum Credit Card

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The BNZ Advantage Platinum Visa Credit Card is a rewards credit card that allows you earn BNZ points rewards. Spend $1 and get 1.67 BNZ Points. The BNZ Advantage Platinum Visa Card also comes with a 90 days platinum International Leisure Travel Insurance and Domestic rental and vehicle excess insurance. It charges an annual fee of $90 and 18.95% p.a. interest rate on purchases. In terms of value, 200 BNZ Points is equivalent to $1.34 NZD.

The BNZ Advantage Platinum Visa Card might be suitable for cardholders who want to use their credit card to earn BNZ Points or for frequent travellers who can take advantage of the free travel insurance benefit. We encourage our readers interested in credit cards with rewards to compare all rewards credit cards on our website to help them make an informed decision.

Rewards Points Cash Equivalent

$100 spend earns you $1.11 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 spend earns you 1.67 BNZ Points then $100 spend earns you 1.67 x 100 = 167 BNZ Points. We know that 20,000 BNZ Points gets you a $134 cash back in statement credit. This means $100 spend earns you (134 x 167/20,000) = 1.1189 or $1.11 cash equivalent.

Our research seems to suggest you get more value for your BNZ Points by redeeming them for statement credits (cash back) rather than for gift cards and other products.

How can I redeem my BNZ Points?

BNZ Points can be redeemed in several ways, including for statement credits, travel, gift cards and shopping. You can find out how to redeem your BNZ points on the BNZ rewards portal.

Key Features

Purchase Rate: 18.95%
Cash Advance Rate: 18.95%
Balance Transfer: Unknown
Annual Fee: $90 charged as $45 half yearly. Additional card $20 p.a
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Fly Buys points or Cash Rewards. Spend $20 on eligible purchases and get 1 Fly Buys point OR spend $1 and get 1.67 BNZ Points.
Credit Limit: Minimum credit limit $8,000
Other Fees:

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

BNZ Advantage Visa Platinum Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the BNZ Advantage Visa Platinum Credit Card to help you decide.

Pros

Earn BNZ points. $20 spend earns you 1.67 BNZ Points
You get up to 90 international travel insurance days
Relatively low interest rate of 18.95% p.a.
Domestic rental vehicle excess insurance
Concierge service
Emergency travel assistance
Many options to redeem your BNZ points including cash back

Cons

Relatively high annual fee of $$90.00
Limited benefits for the annual fee charged

What we like about BNZ Advantage Visa Platinum Credit Card

Reward Points System

With the BNZ Advantage Visa Platinum Credit Card, you can earn rewards on your everyday spending. Earn 1.67 BNZ Points for every $1 spent.

Travel Insurance Coverage

This credit card offers 90 days of international leisure travel insurance. This means you can travel with peace of mind, knowing you are covered for various travel-related incidents. Additionally, the card includes domestic rental and vehicle excess insurance, providing extra protection when you rent a car within New Zealand.

Additional Perks and Features

The BNZ Advantage Visa Platinum Credit Card comes with several other perks. These include:

Cashback Rewards: Earn approximately $1.11 back for every $100 spent.
Exclusive Offers: Access special deals and discounts available only to cardholders.

These benefits make the BNZ Advantage Visa Platinum Credit Card a valuable tool for managing your finances and enjoying extra perks.

What is not so great about BNZ Advantage Visa Platinum Credit Card

One of the main drawbacks of the BNZ Advantage Visa Platinum Credit Card is its annual fee. This fee can be quite high, and it may not be worth it if you do not use the card's benefits frequently. Additionally, there are other charges associated with the card, such as late payment fees and foreign transaction fees, which can add up over time.

The interest rates on the BNZ Advantage Visa Platinum Credit Card are another downside. If you carry a balance on your card, the interest charges can be significant. This can make it difficult to pay off your debt and can lead to a cycle of increasing debt.

While the BNZ Advantage Visa Platinum Credit Card does offer some benefits, they are not as comprehensive as those offered by other premium credit cards. For example, the card no longer includes Purchase Protection, Extended Warranty, or PriceGuard. This means that you may not get as much value from the card as you would from other options.

Is the BNZ Advantage Visa Platinum Credit Card Right for me?

Spending Habits

When considering the BNZ Advantage Visa Platinum Credit Card, it's essential to evaluate your spending habits. This card is particularly beneficial for those who frequently use their credit card for everyday purchases. If you tend to spend a significant amount on groceries, dining, and other daily expenses, the reward points system can offer substantial benefits. However, if your spending is minimal, the annual fees may outweigh the rewards.

Travel Frequency

Another critical factor is your travel frequency. The BNZ Advantage Visa Platinum Credit Card provides 90 days of international leisure travel insurance and domestic rental vehicle excess insurance. If you travel often, these perks can save you money and provide peace of mind. On the other hand, if you rarely travel, these benefits may not be as valuable to you.

Alternative Options

It's also wise to consider alternative options. There are various credit cards available, each with its own set of benefits and drawbacks. Compare the BNZ Advantage Visa Platinum Credit Card with other cards to determine which one aligns best with your financial goals and lifestyle. Look at factors such as reward points, travel insurance, annual fees, and interest rates to make an informed decision. Compare Travel Credit Cards.

How to Apply for the BNZ Advantage Visa Platinum Credit Card

Application Process

Applying for the BNZ Advantage Visa Platinum Credit Card is straightforward. Follow these steps to ensure a smooth application:

Click on Apply Now button on this page to visit the BNZ Website: Carefully read through the card details, benefits, and terms on the BNZ website to ensure it meets your needs.
Click 'Apply Now': Once you are ready, click the 'Apply Now' button to start your application.
Fill Out the Application Form: Provide all required information, including personal details, income, and employment information.
Submit Necessary Documentation: Upload or provide any required documents, such as proof of income and identification.
Review and Submit: Double-check all the information you have entered and submit your application.

Approval Time

The approval time for the BNZ Advantage Visa Platinum Credit Card can vary. Typically, you can expect to receive a response within a few business days. BNZ may contact you for additional information or documentation if needed.

Tips for a Successful Application

To increase your chances of a successful application, consider the following tips:

Ensure Accuracy: Double-check all the information you provide to avoid any errors or discrepancies.
Prepare Documentation: Have all necessary documents ready before you start your application to streamline the process.
Check Eligibility: Make sure you meet all the eligibility criteria, including income and credit score requirements.
Monitor Your Credit: A good credit score can significantly improve your chances of approval. Monitor your credit report and address any issues beforehand.

Eligibility Criteria:

Your eligibility for this card would depend on a few criteria listed below. When you apply for a BNZ credit card, BNZ 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 credit card with rewards? Compare ALL Rewards credit cards on our credit card rewards 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.