TSB Platinum Mastercard Credit Card

Gold Award

The TSB Platinum Mastercard credit card is a cashback credit card which allows you to earn $1 cash back on every $100 spent on eligible purchases. You also get a range of insurance including Mobile Phone Insurance, Price Protection Insurance, Purchase Protection Insurance and Domestic and International Travel insurance. The TSB Platinum Mastercard credit card charges an annual fee of $90 and a purchase rate of 20.95% p.a.

This card offers a lot of great benefits and rewards and might be suitable for those who want to earn cash back rewards which they can use as they please. It might also be suitable for travellers as it offers both domestic and international travel insurance. We recommend you compare this credit card against other credit cards with rewards to make sure you choose the best rewards credit card to suit your needs.

Rewards Points Cash Equivalent

$100 spend earns you $1.00 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

$100 spend earns you $1 Cash back - no caculation required.

Key Features

Purchase Rate: 20.95%
Cash Advance Rate: 22.95%
Balance Transfer: Unknown
Annual Fee: $90 p.a.
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn $1 cashback on every $100 spent on eligible purchases
Credit Limit: Mininum credit limit of $8,000
Other Fees:

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

TSB Platinum Mastercard Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the TSB Platinum Mastercard Credit Card to help you decide.

Pros

Cashback rewards
Complimentary Travel Insurance that covers both international and domestic travel
Purchase Protection Insurance
Mobile Phone Insurance
Price Protection Insurance
0% p.a. Balance Transfer for 6 months

Cons

Annual Fee
Foriegn Transaction Fees

Key Benefits of the TSB Platinum Mastercard Credit Card

Rewards Program

The TSB Platinum Mastercard offers a rewarding experience for cardholders. You earn cashback for every dollar spent on eligible purchases. This makes everyday spending more beneficial.

Travel Insurance

One of the standout features of this card is the complimentary travel insurance. This covers you for a range of travel-related issues, such as medical emergencies, trip cancellations, and lost luggage. It's a valuable benefit for frequent travellers, providing peace of mind during your journeys both international and domestic.

Purchase Protection

The card also includes purchase protection, which safeguards your purchases against theft or damage for a certain period after the purchase date. This means you can shop with confidence, knowing that your new items are protected.

Drawbacks to Consider

One of the primary drawbacks of the TSB Platinum Mastercard Credit Card is the annual fee. While the card offers a range of benefits, the cost of maintaining the card can be a significant consideration. For some users, the annual fee may outweigh the rewards and perks provided.

An important factor to consider is the interest rates associated with the TSB Platinum Mastercard. If you tend to carry a balance on your credit card, the high-interest rates can quickly add up, making it an expensive option. It is crucial to pay off your balance in full each month to avoid these charges.

Another drawback of the TSB Platinum Mastercard is the foreign transaction fee it charges despite being a travel credit card.

Is the TSB Platinum Mastercard Right for me?

Spending Habits

When deciding if the TSB Platinum Mastercard is suitable for you, consider your spending habits. If you frequently use your credit card for everyday purchases, the cashback rewards program might be beneficial. However, if you tend to use cash or debit cards more often, the rewards may not be as valuable.

Travel Frequency

Your travel frequency is another important factor. The TSB Platinum Mastercard offers travel insurance, which can be a significant advantage if you travel often. On the other hand, if you rarely travel, this benefit might not be as useful to you.

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

Financial Goals

Lastly, think about your financial goals. If you aim to earn rewards and enjoy travel perks, this card could be a good fit. However, if you are focused on saving money and avoiding fees, you might want to consider other options. The annual fee and interest rates are important to keep in mind when making your decision.

Frequently Asked Questions

What are the age and residency requirements for the TSB Platinum Mastercard?

To apply for the TSB Platinum Mastercard, you need to be at least 18 years old and a resident of New Zealand.

What income and credit score do I need to be eligible?

You should have a stable income and a good credit score. TSB will check your credit history as part of the application process.

What documents are needed to apply for the TSB Platinum Mastercard?

You will need to provide proof of identity, like a passport or driver's licence, and proof of income, such as payslips or bank statements.

What rewards does the TSB Platinum Mastercard offer?

The card offers cashback rewards for every dollar spent, which can be redeemed for various items and services.

Does the TSB Platinum Mastercard come with travel insurance?

Yes, the card includes travel insurance, which covers you for various travel-related incidents.

Are there any annual fees for the TSB Platinum Mastercard?

Yes, there is an annual fee for the card. It's important to check the latest fee details on TSB's official website.

Eligibility Requirements:

Your eligibility for this card would depend on a few criteria listed below. When you apply for a TSB credit card, TSB Bank might 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.

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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.