What are Credit Card Rewards Programs?
Credit card rewards programs in New Zealand allow you to earn reward points or cash back for every dollar you spend on eligible purchases using your card. The points earned can be redeemed for various rewards such as flights, products, gift cards or cash back. However, understanding how much your reward points are worth can often be confusing so we have set out to demystify credit card rewards programs and provide Kiwis with a simple way to understand how credit card reward schemes work and how much their reward points are worth.
Credit Card Reward Programs in New Zealand
There several credit card reward programs available in New Zealand as detailed below. These include schemes that allow you to earn reward points or cash back. To see a list of all credit cards with rewards in New Zealand instead, visit our rewards credit cards page.
- Air New Zealand Airpoints
- Amex Membership Rewards Points
- ANZ Bank CashBack
- ASB True Rewards
- BNZ Points
- Farmers Club Point
- Flight Centre Rewards Points
- Flybuys
- Purple Dollar
- SBS Cashback
- TSB Cashback
- Westpac Hotpoints
- Woolworths Everyday Rewards (ASB)
Let’s explore each of these credit card rewards programs and outline how much the reward points are worth.
Air New Zealand Airpoints
Airpoints is the frequent flyer program of Air New Zealand but it is used by many credit card providers in New Zealand to offer rewards to their customers for using their credit cards. Some of the credit card providers that use Airpoints as part of their rewards program include American Express, Kiwibank, Westpac and ANZ. Credit cards that earn Airpoints are oftend refered to as Airpoints credit cards.
How can I redeem my Airpoints?
You can redeem your Airpoints for flights, upgrades, gift cards and shopping with Air New Zealand partners using the Airpoints store.
Pro Tip: there are no categories for gift cards on the Airpoints Store, but if you search for “gift cards” or “vouchers” on the website using the search bar, you will see a whole bunch of gift cards and vouchers that you can purchase.
How much are Airpoints worth?
1 Airpoints Dollar = $1 NZD when redeemed with Air New Zealand or at the Airpoints store.
The value of Airpoints is very easy to understand since 1 Airpoints Dollar is equal to $1 New Zealand dollar. This is perhaps why the Airpoints rewards program is the most popular credit card rewards program in New Zealand.
Amex Membership Rewards Points
The American Express Membership Rewards Points program rewards Amex customers with Membership Reward points for using their qualified credit card for eligible purchases.
How can I redeem my Amex Membership Reward Points?
Amex Membership Rewards Points can be redeemed in various ways, including for travel, statement credits, gift cards, and shopping. Amex also offers the flexibility to transfer Membership Reward points to several airlines and hotel loyalty programs, often providing enhanced value. You can find out how to redeem your points on the Amex Membership rewards page.
How much are Amex Membership Reward Points worth?
The value of American Express Membership Rewards points can vary based on how you redeem your points. We have provided some examples below to give you an indication of value but for a more precise valuation, you should check the specific redemption options available through the American Express rewards site, as the value can differ depending on promotions and transfer partners.
Gift Card:
16,000 Membership Rewards Points = $100 Bunnings Gift card.
This means 1 Amex Membership Rewards Points = 0.625 cents NZD.
Statement Credit:
When redeemed for statement credit 20,000 Membership Reward Points = $100 NZD in statement credit.
This means 1 Amex Membership Rewards Points = 0.50 cents NZD in statement credit.
Our research suggests that you get more value for your Amex Membership Rewards Points by redeeming your points for travel, gift cards, and shopping with Amex partners rather than as statement credit.
ANZ Bank CashBack
The ANZ CashBack program rewards ANZ Bank customers with cash backs for using their qualified ANZ credit card for eligible purchases.
How can I redeem my ANZ CashBack?
The ANZ cash back you earn is credited to your account on an annual basis on the date of your first statement after the anniversary of your first purchase. This essentially means it is credited to your account annually. The good thing about cash back rewards is that you can use them however you please rather redeeming them with specific partners.
How much is the ANZ CashBack worth?
$1 ANZ CashBack = $1 NZD in statement credit paid to your account annually.
ASB True Rewards
The ASB True Rewards program rewards ASB customers with True Rewards dollars for using their qualified credit cards for eligible purchases.
How can I redeem my ASB True Rewards points?
Your ASB True Rewards dollars can be redeemed in several ways, including for travel, gift cards and shopping. You can find out how to redeem your ASB True Rewards dollars on the True Rewards Online Store.
How much is an ASB True Rewards dollar worth?
$1 ASB True Rewards dollar = $1 NZD when redeemed at the ASB True Rewards online store or partner stores. For example, $100 True Rewards dollars = $100 Bunnings gift card.
BNZ Points
The BNZ Points Rewards program rewards BNZ customers with BNZ Points for using their qualified credit cards for eligible purchases.
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.
How much are BNZ Points worth?
The value of BNZ points varies based on how you redeem your points. We have provided two examples below to give you an indication of the value but for a more precise valuation, you should check the specific redemption options available through the BNZ rewards portal, as the value can differ depending on the transfer partners or current promotion.
Gift Card:
15,900 BNZ Points = $100 Farmers Gift card.
This means 1 BNZ Points = 0.628 cents NZD in Gift cards.
Statement Credit:
When redeemed for statement credit (cash) 20,000 BNZ Points = $134 in statement credit.
This means 1 BNZ Points = 0.67 cents NZD in statement credit.
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.
Farmers Club Points
The Farmers Club Points program rewards Farmers customers with Farmers Club Points for using their qualified Farmers credit cards for eligible purchases or for simply shopping at Farmers and scanning their Farmers club card.
How can I redeem my Farmers Club Points?
Farmers Club Points can be redeemed in any Farmers store or at the online Farmers or Stevens store. You can find out how to redeem your Farmers Club Points on the Farmers website.
How much are Farmers Club Points worth?
250 Farmers Club Points = $20 Farmers Voucher.
This means 1 Farmers Club Point = 8 cents NZD when redeemed at a Farmers store or Steven store.
Flight Centre Rewards Points
The Flight Centre Rewards Points program rewards Flight Centre customers with Flight Centre Rewards Points for using their Flight Centre Credit Card for eligible purchases. The program awards more points for using your card internationally and for using it at Flight Centre.
How can I redeem my Flight Centre Rewards Points?
Flight Centre Rewards Points can be redeemed at Flight Centre for any airline, hotel, tour, cruise, car rental or sightseeing deals.
How much are Flight Centre Rewards Points worth?
1 Flight Centre Rewards Points = $1 NZD when spent at Flight Centre.
Flybuys
Flybuys is one of the most recognisable rewards programs in New Zealand and is used by many companies in New Zealand, but unfortunately, Flybuys in New Zealand is closing down on the 31st of December 2024 and you can only earn Flybuys until 31st of October 2024. According to Flybuys, businesses now have greater access to technology which allows them to create their own highly-tailored loyalty schemes.
How much are Flybuys Points worth?
The value of Flybuys Points varies based on where and how you redeem your points. We have provided two examples below to give you an indication of the value.
Gift Card:
375 Flybuys Points = $50 NZD New World gift card.
This means 1 Flybuys Point = 13.33 cents NZD when redeemed for Gift Cards.
Reward Currency:
If you set your Flybuys reward currency as New World Dollars then 28 Flybuys will convert to 5 New World Dollars.
This means 1 Fuybuys Point = 17.8 cents NZD when you set your Flybuys reward currency as New World Dollars.
Our research suggests setting your Flybuys rewards currency to New World dollars gives you one of the best value for your points and it is advisable to do so since Flybuys is closing down soon.
Purple Dollar Rewards
The Purple Dollar Rewards program rewards Purple Visa Card customers with Purple Dollars for using their Purple Visa Card for eligible purchases.
How can I redeem my Purple Dollars?
Purple Dollars can be redeemed online or in-store at the following stores:
- Noel Leeming
- Torpedo7
- The Warehouse
- Warehouse Stationery
- Big Save
- Rockshop
- PBTech
- Mag & Turbo
- Smiths
How much are Purple Dollars worth?
1 Purple Dollar = $1 NZD when redeemed at participating stores.
SBS Cashback
The SBS Bank CashBack program rewards SBS cardholders with cash back for using their qualified SBS credit card for eligible purchases.
How can I redeem my SBS Cashback?
Your SBS Cash Back is credited to your account every quarter and should appear in your transaction history in your online statement.
How much is the SBS CashBack worth?
$1 SBS CashBack = $1 NZD in statement credit paid to your account quarterly.
TSB Cashback
The TBS Bank CashBack program rewards TSB cardholders with cash back for using their qualified TBS credit card for eligible purchases.
How can I redeem my TBS Cashback?
Your TBS Cash Back is credited to your account on the first working day of the next statement period.
How much is the TBS CashBack worth?
$1 TBS CashBack = $1 NZD in statement credit paid to your account on the first working day of the next statement period.
Westpac Hotpoints
The Westpac Hotpoints Rewards program rewards Westpac cardholders with Hotpoints for using their qualified Westpac credit cards for eligible purchases.
How can I redeem my Westpac Hotpoints?
Westpac Hotpoints can be redeemed in several ways, including as gift cards, products, charity donations, KiwiSaver contributions or by using Hotpoints Pay which allows you to use your Hotpoints wherever MasterCard is accepted (essentially turning your Hotpoins into cash). You can find out how to redeem your Hotpoins on this site.
How much are Westpac Hotpoints worth?
The value of Westpac Hotpoints varies based on how and where you redeem your points. We have provided one example below to give you an indication of the value but for a more precise figure, you should check the specific redemption options available through the Westpac site.
Gift Card:
18,00 Hotpoints = $100 Bunnings Gift Card
This means 1 Hotpoint = 0.55 cents NZD in Gift Cards.
Woolworths Everyday Rewards
Everyday Rewards is Woolworth’s rewards program but it is used by ASB and other companies to offer reward points to qualifying customers.
How can Everyday Rewards from ASB be Redeemed?
Everyday Rewards earned using ASB credit cards can be redeemed at any Woolworths New Zealand supermarket or BP.
How much are Everyday Rewards points from ASB worth?
Once you hit 2,000 Everyday Rewards points, you will get $15 off, redeemable at any Woolworths New Zealand supermarket or BP.
For more information and tips to help you choose the best credit card in NZ, visit our website Credit Cards Compare.
