BNZ Lite Visa Credit Card

Gold Award

The BNZ Lite Visa Credit Card is a low interest rate credit card with a purchase rate of 13.50% p.a. and an annual fee for just $10. It's a very basic credit card with no major rewards or perks and might be suitable for cardholders who tend to carry a balance on their credit card.

An alternative to this credit card is the Amex Airpoints credit card which charges no annual fee and allows you to earn Airpoint rewards on purchases, however if you are interested in low interest rate credit cards then we recommend that you compare all low rate credit cards on our website to help you make an informed decision.

Key Features

Purchase Rate: 13.50% p.a.
Cash Advance Rate: 22.95% p.a.
Balance Transfer: Unknown
Annual Fee: $10
Interest Free Days: 55 days
Minimum Repayment: 2% or $25 (whichever is more)
Card Reward Details:
Credit Limit: $500 minimum limit
Other Fees: Additional card $1.50 half-yearly

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

BNZ Lite Visa Credit Card Review

Pros and Cons

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

Pros

Low Interest Rate

Cons

Annual fee - even though the annual fee is low there are many other credit cards with low interest rates with no annual fees.
No Rewards
Foreign Transaction Fees

What we like about the BNZ Lite Visa Credit Card

Low-Interest Rates

One of the standout features of the BNZ Lite Visa Credit Card is its competitive low-interest rate. This makes it an attractive option for those who may carry a balance from month to month. By choosing this card, you can save on interest charges compared to other higher-rate cards.

Drawbacks of the BNZ Lite Visa Credit Card

Limited Rewards

Unlike some other credit cards, the BNZ Lite Visa does not offer a robust rewards programme. If you are looking for a card that provides points, cashback, or other rewards for your spending, this card may not meet your expectations.

Foreign Transaction Fees

Another drawback is the foreign transaction fees. If you frequently travel abroad or make purchases in foreign currencies, these fees can add up quickly, making the card less cost-effective for international use.

Annual Fee

Although the annual fee is very low there are many other credit cards with low interest rate that charge no annual fee

Is the BNZ Lite Visa Credit Card Right for me?

The BNZ Lite Visa Credit Card is best suited for individuals who prefer low-interest rates and minimal fees. If you often carry a balance on your credit card, this card can help you save on interest costs. Additionally, if you are looking for a straightforward credit card without the complexities of rewards programmes, this might be the right choice for you.

Your spending habits play a crucial role in determining if this card is suitable for you. If you frequently make purchases and are diligent about paying off your balance within the interest-free period, you might be better off with a rewards credit card.

Consider your financial goals when deciding on the BNZ Lite Visa Credit Card. It is always advisable to compare multiple credit cards before deciding which card to get.

How to Apply for the BNZ Lite Visa Credit Card

Online Application Process

Applying for the BNZ Lite Visa Credit Card online is straightforward. Follow these steps to complete your application:

Click the "Apply Now" button on this page to visit the BNZ website
On the BNZ Lite Visa Credit Card page click on the 'Apply Now' button.
Fill in the required personal and financial information.
Review your application to ensure all details are correct.
Submit your application and wait for a confirmation email.

In-Branch Application

If you prefer a more personal touch, you can apply for the BNZ Lite Visa Credit Card at any BNZ branch. Here's what you need to do:

Visit your nearest BNZ branch.
Speak with a customer service representative about your interest in the BNZ Lite Visa Credit Card.
Provide the necessary documentation, such as proof of identity and income.
Complete the application form with the help of the representative.
Submit your application and wait for further instructions.

Approval Timeframe

The approval timeframe for the BNZ Lite Visa Credit Card can vary. Generally, you can expect to receive a response within a few business days. If additional information is required, BNZ will contact you to request the necessary details. Once approved, your new credit card will be mailed to you, typically arriving within 7-10 business days.

Frequently Asked Questions

What is the minimum age requirement for the BNZ Lite Visa Credit Card?

You need to be at least 18 years old to apply for the BNZ Lite Visa Credit Card.

Do I need to be a New Zealand resident to apply?

Yes, you must be a New Zealand resident to be eligible for the BNZ Lite Visa Credit Card.

What kind of income do I need to qualify?

Your income needs to be stable and sufficient to meet the credit card repayments, but there is no specific minimum income requirement.

Eligibility Requirements:

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 low rate credit card? Compare ALL low interest credit cards on our low rate credit cards 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.