ASB Visa Platinum Rewards Credit Card

Gold Award

The ASB Visa Gold Credit Card is a rewards card with complimentary overseas travel insurance for you, your spouse and dependent children when they are travelling with you for up to 120 days overseas return trip. You have the choice of earning True Rewards or Everyday Rewards on your purchases. With True Rewards, you get one True Rewards Dollar for every $100 you spend and terms of value one True Rewards Dollar = 1 New Zealand dollar. With Everyday Rewards you get a $15 voucher with every 2,000 points earned, plus you earn twice the number of everyday rewards points when you also scan your Everyday Rewards card at participating partners.

The ASB Visa Gold Credit Card charges an annual fee of $80, a purchase rate of 19.95% p.a and a balance transfer rate of 0% p.a. for 6 months. We recommend you compare all rewards credit cards on our website to help you make an informed decision before picking a rewards card.

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

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

Key Features

Purchase Rate: 19.95%
Cash Advance Rate: 22.95%
Balance Transfer: 0% p.a. for 6 months
Annual Fee: $80.00
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn True Rewards, Travel Insurance
Credit Limit: Minimum credit limit of $8,000
Other Fees:

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

ASB Visa Platinum Rewards Credit Card Review

Pros and Cons

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

Pros

Complimentary overseas travel insurance
Earn True Rewards dollars or Everyday Rewards points
earn one True Rewards Dollar for every $100 you spend With an ASB Platinum Rewards or get a $15 voucher with every 2,000 Everyday Rewards points earned

Cons

High Annual Fee
Travel Insurance only covers overseas travel not domestic like other card
Foreign Transaction fees apply

What we like about the ASB Visa Platinum Rewards Credit Card

Reward Points System

The ASB Visa Platinum Rewards Credit Card offers a robust reward points system that allows you to earn points on every dollar spent. These points can be redeemed for a variety of rewards, including travel, merchandise, and gift cards. The flexibility of the reward options ensures that there is something for everyone.

Travel and Purchase Protection

One of the standout features of this credit card is the comprehensive travel and purchase protection it offers. You can travel with peace of mind knowing that you are covered for a range of travel-related incidents, such as lost luggage and travel delays. Additionally, purchase protection ensures that your purchases are covered against theft or damage for a specified period.

Exclusive Offers and Discounts

Cardholders of the ASB Visa Platinum Rewards Credit Card enjoy access to exclusive offers and discounts. These can range from dining and entertainment deals to special promotions on travel and shopping. These exclusive perks add significant value to the card, making it a worthwhile choice for those who enjoy taking advantage of special deals.

Balance Transfer option

Although the card includes a balance transfer offer of 0% for 6 months which is good, it is usually not wise to do a balance transfer on to a rewards credit card as rewards credit cards tend to have high interest rates.

What is not so great about the ASB Visa Platinum Rewards Credit Card

Annual Fees

One of the main drawbacks of the ASB Visa Platinum Rewards Credit Card is the annual fee. While the card offers several benefits, the cost of maintaining it can be a burden for some. It's important to weigh the rewards against the fee to determine if it's worth it for you.

Interest Rates

Another downside is the interest rates. If you tend to carry a balance from month to month, the high interest rates can quickly add up, making it an expensive option. Always try to pay off your balance in full to avoid these charges.

Limited Reward Redemption Options

The reward redemption options are somewhat limited compared to other credit cards. While you can earn points on your purchases, the ways to redeem these points might not align with your preferences. Consider if the available options meet your needs before committing to this card.

Is the ASB Visa Platinum Rewards Credit Card Right for me?

Spending Habits

When considering the ASB Visa Platinum Rewards Credit Card, it is essential to evaluate your spending habits. If you frequently use your credit card for everyday purchases, such as groceries, fuel, and dining out, you may find the reward points system beneficial. The more you spend, the more points you accumulate, which can be redeemed for various rewards. Important: you have to pay off your full balance each month to take advantage of rewards credit cards.

Travel Frequency

This credit card is particularly advantageous for those who travel often. With travel insurance and purchase protection, you can enjoy peace of mind during your trips. Additionally, the reward points can be used for travel-related expenses, making it a great option for frequent flyers.

Financial Goals

Your financial goals should also play a significant role in your decision. If you aim to maximise rewards and take advantage of exclusive offers, this card could be a good fit. However, if you are concerned about annual fees and interest rates, you may want to weigh these factors carefully before applying.

How to Apply for the ASB Visa Platinum Rewards Credit Card

Online Application Process

Applying for the ASB Visa Platinum Rewards Credit Card online is straightforward. Begin by clicking "Apply Now" on this page to visit the ASB website. Here, you will find the application form. Fill in the required details, such as your personal information, income, and employment status. Double-check your entries for accuracy before submitting the form. Once submitted, you will receive a confirmation email acknowledging receipt of your application.

In-Branch Application

If you prefer a more personal touch, you can apply for the ASB Visa Platinum Rewards Credit Card at any ASB branch. Visit your nearest branch and speak with a customer service representative. They will guide you through the application process, ensuring you provide all necessary documentation. This method allows you to ask questions and receive immediate assistance.

Approval Timeline

The approval timeline for the ASB Visa Platinum Rewards Credit Card can vary. Typically, online applications are processed faster, often within a few business days. In-branch applications might take a bit longer due to the manual handling of documents. You will be notified of the outcome via email or phone. If approved, your new credit card will be mailed to you, usually within 7-10 business days.

Managing Your ASB Visa Platinum Rewards Credit Card

Online Banking Features

Managing your ASB Visa Platinum Rewards Credit Card is straightforward with ASB's online banking platform. You can easily view your transaction history, check your balance, and make payments. Additionally, you can set up automatic payments to ensure you never miss a due date. The platform also allows you to monitor your reward points and redeem them for various offers.

Mobile App Capabilities

The ASB mobile app offers a convenient way to manage your credit card on the go. With the app, you can quickly check your balance, view recent transactions, and make payments. The app also provides real-time notifications for transactions, helping you keep track of your spending. Moreover, you can use the app to lock your card if it's lost or stolen, adding an extra layer of security.

Customer Support Services

ASB provides excellent customer support services to help you manage your Visa Platinum Rewards Credit Card. You can reach out to their support team via phone, email, or live chat for any queries or issues. The customer support team is available 24/7, ensuring you get assistance whenever you need it. Additionally, ASB offers a comprehensive FAQ section on their website, which can help you find answers to common questions.

Frequently Asked Questions

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

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

How important is my income and credit score?

Your income and credit score are important. ASB will check if you have a steady income and a good credit history.

What documents do I need to apply?

You will need to provide proof of identity, proof of address, and proof of income when you apply.

What benefits does the reward points system offer?

You earn points for every dollar you spend, which you can redeem for flights, gifts, or even cashback.

Are there any travel and purchase protections?

Yes, the card offers travel insurance and purchase protection, which can be very useful if you travel often or buy expensive items.

What should I know about the annual fees and interest rates?

The card has an annual fee and interest rates that you should consider. Make sure to read the terms and conditions to know all the costs involved.

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.