BNZ Low Rate Credit Cards – BNZ Low Interest Credit Cards

We’ve researched and compiled below a list of all the BNZ low rate credit cards in NZ. For more low interest credit cards visit our low interest credit cards page, and for all BNZ credit cards please visit the BNZ credit cards page.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

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Updated: 12 Nov, 2024

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Compare BNZ Low Rate Credit Cards

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
BNZ Lite Visa Credit Card Gold Award	BNZ Lite Visa Credit Card is a low interest rate credit card with a purchase rate of 13.50% p.a.	13.50% p.a.	N/A	22.95% p.a.	$10.00	55 days More Info » Apply Now »

^ 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 you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Receive 300 bonus Airpoints Dollars™ when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

More Info »

*Terms and conditions apply

Understanding Low Rate Credit Cards

What Defines a Low Rate Credit Card?

A low rate credit card typically offers a lower interest rate compared to standard credit cards. This means you pay less interest on any outstanding balance.

How Low Rate Credit Cards Work

Low rate credit cards work by offering a reduced interest rate on purchases and sometimes on balance transfers. This can help you save money if you tend to carry a balance from month to month. However, it’s important to read the terms and conditions carefully to understand any fees or charges that may apply.

Pros and Cons of Low Rate Credit Cards

Pros:

• Lower interest rates can save you money on interest charges.
• Can be beneficial for those who carry a balance.

Cons:

• Often do not offer rewards programs, which might be a drawback if you pay off your balance in full each month.

Comparing Low Rate Credit Cards

Annual Fees and Interest Rates

When comparing low rate credit cards, it’s important to look at both the annual fees and the interest rates.

Balance Transfer Options

Many low rate credit cards offer balance transfer options, which can be a great way to manage existing debt. You can find a list of these credit cards on various comparison websites. Using a credit card finder tool can help you filter through all available options to find the best balance transfer offers. Balance Transfer offers allows you to transfer your existing debt to a new card with a lower interest rate, potentially saving you money on interest payments.

Rewards and Benefits

While low rate credit cards focus on offering lower interest rates, some also come with additional rewards and benefits. These can include cashback offers, reward points, and other perks. However, it’s essential to read the fine print to understand what rewards are available and how you can earn them. Sometimes, the benefits may not outweigh the higher annual fees, so consider your spending habits and financial goals when evaluating these cards.

Who Should Consider Low Rate Credit Cards?

Low rate credit cards are best for those who often carry a balance on their credit cards. If you intend to carry a balance on your credit card debt in full each month, a low rate credit card can help you save on interest charges.

A low rate credit card might not be the best option if you always pay off your credit card balance in full each month. In such cases, a rewards credit card could be more beneficial, as rewards credit cards offers points and other perks. Also, if you have a large existing credit card debt, a balance transfer credit card might be more suitable.

If a low rate credit card does not meet your needs, consider these alternatives:

• Rewards Credit Cards: Ideal for those who pay off their balance monthly and want to earn points or cashback.
• Balance Transfer Credit Cards: Suitable for those with significant existing debt, offering low or 0% interest on transferred balances for a set period.

Balance Transfer Offers on Low Rate Credit Cards

How Balance Transfers Work

Balance transfers allow you to move debt from one credit card to another, usually to take advantage of a lower interest rate. This can provide temporary relief from high interest rates, but it requires careful planning. Typically, the lower rate is only available for a fixed period, often between 6 to 12 months. After this period, the interest rate may increase, so it’s important to have a plan to pay off the debt within the promotional timeframe.

Benefits of Balance Transfers

• Lower Interest Rates: You can save money on interest payments by transferring your balance to a card with a lower rate.
• Debt Consolidation: Combining multiple debts into one can simplify your finances and make it easier to manage payments.
• Temporary Relief: A lower interest rate can provide breathing room to pay off your debt more quickly.

Things to Watch Out For

• Approval Requirements: You must be approved for the new card, and there may be limits on how much you can transfer.
• End of Promotional Period: Once the low or zero interest period ends, the rate can increase significantly. Make sure you have a plan to pay off the balance before this happens.
• Regular Payments: To make the most of a balance transfer, you should make regular payments. Divide the transferred balance by the number of months in the promotional period to set a monthly payment goal.
• Hidden Fees: Be aware of any fees associated with the balance transfer, such as transfer fees or annual fees on the new card.

Tips for Choosing the Best Low Rate Credit Card

Evaluating Your Financial Situation

Before selecting a low rate credit card, it’s a good idea to assess your financial health. Determine your spending habits and how often you carry a balance. If you frequently have an outstanding balance, a low rate card can save you money on interest. However, if you pay off your balance in full each month, other features like rewards might be more beneficial.

Reading the Fine Print

Always read the fine print before committing to a credit card. Look out for hidden fees, such as annual fees, late payment fees, and balance transfer fees. Understanding these charges can help you avoid unexpected costs. Additionally, check the terms for any introductory offers, as these rates often revert to higher ones after the promotional period ends.

Comparing Different Offers

Take the time to compare various low rate credit cards. Look at the interest rates, fees, and any additional benefits each card offers. Some cards might offer perks like travel insurance or purchase protection, which could be valuable depending on your needs. By comparing different options, you can find the card that best suits your financial situation and goals.

Common Misconceptions About Low Rate Credit Cards

Low Rate vs. Low Interest Credit Cards

Hidden Fees and Charges

Some believe that low rate credit cards have no hidden fees, but this is not always true. You should always read the fine print to find out about any extra costs. These might include annual fees, late payment fees, or balance transfer fees. Knowing about these charges can help you avoid surprises.

Impact on Credit Score

Another common myth is that applying for a low rate credit card will hurt your credit score. While it’s true that a hard inquiry can lower your score a bit, the impact is usually small and temporary. If you manage your credit well, having a low rate credit card can actually help improve your credit score over time.

Frequently Asked Questions

What is a low rate credit card?

A low rate credit card has a lower interest rate on purchases compared to standard credit cards. This means you’ll pay less interest if you carry a balance from month to month.

How do low rate credit cards work?

Low rate credit cards charge less interest on the money you borrow. They are useful if you often carry a balance, as you’ll end up paying less in interest charges.

What are the pros and cons of low rate credit cards?

The main benefit is the lower interest rate, which can save you money. However, they often come with higher annual fees and usually don’t offer rewards like points or cashback.

Are there low rate credit cards with balance transfer offers?

Yes, many low rate credit cards come with balance transfer offers. These deals often have even lower rates for transferred balances for a set period, helping you pay off existing debt faster.

Who should consider getting a low rate credit card?

If you usually carry a balance on your credit card, a low rate card can save you money on interest. However, if you pay off your balance in full each month, a rewards card might be a better choice.

What should I watch out for with low rate credit cards?

Be mindful of the annual fees and any other charges. Also, check if the low rate applies to all transactions or just certain types, like purchases or balance transfers.