Farmers Finance Card

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The Farmers Finance Card is a store credit card that charges no annual account fees plus you get access to exclusive extended payment deals at Farmers. The Farmers Finance Credit Card charges a very high interest rate of 28.50% p.a but Farmers says depending on the special offers available at the time of your purchase a lower interest rate may apply to your purchase. The Farmers Finance Card offers very limited benefits compared to other credit cards which is not suprising as it charges not annual fee.

We can only recommend getting the Farmers Finance Card if you are confident that you will not carry a debt on your card because of the very high interest rate. We recommend comparing this credit card agains other credit cards in NZ before deciding if this is the right credit card for you.

Key Features

Purchase Rate: 28.50%
Cash Advance Rate: 28.50% p.a.
Balance Transfer: N/A
Annual Fee: $0.00
Interest Free Days: Up to 55 days
Minimum Repayment: If your closing balance on your statement is $10 or more, then $10 or an amount calculated as 3% of the closing balance (whichever is greater).
Card Reward Details:
Credit Limit: Subject to lending criteria and is assessed on an individual basis and based on application information
Other Fees:

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

Farmers Finance Card Review

Pros and Cons

We've compiled below the pros and cons of the Farmers Finance Card to help you decide.

Pros

No Annual Fee
Enjoy exclusive extended finance offers so that you can buy the things you need, with a little extra time to pay (extra fees might apply).

Cons

Very high interest rate even compared to other credit cards
Very limited benefits compare to other cards

What we like about Farmers Finance Card

No Annual Account Fees

The main advantage of the Farmers Finance Credit Card is that there are no annual account fees. This means you can keep the card without worrying about an annual charges. It's a cost-effective option for those who want the convenience of a credit card without the ongoing fees.

Nationwide Acceptance

The Farmers Finance Card is widely accepted across New Zealand. Thousands of retailers nationwide welcome this card, making it a versatile choice for your shopping needs. Whether you're buying groceries, clothing, or electronics, you can use your Farmers Finance Card at numerous locations, adding to its convenience and utility.

Drawbacks of the Farmers Finance Card

While the Farmers Finance Card offers several benefits, it is important to consider its drawbacks before making a decision.

High Standard Interest Rate

One of the main disadvantages is the high standard interest rate of 28.50% per annum. If you do not pay off your balance in full by the due date, this interest rate will apply to the remaining amount, which can quickly add up and become costly.

Limited Rewards Programme

The card's rewards program is not as comprehensive as some other credit cards. While there are occasional promotions and prize draws, the ongoing rewards and benefits may not be as attractive or valuable.

Potential for Overspending

Having a credit card can sometimes lead to overspending. It is easy to lose track of your spending and accumulate debt if you are not careful. It is crucial to monitor your expenses and ensure you can pay off your balance each month to avoid falling into financial trouble.

Is the Farmers Finance Card Right for me?

Before deciding on the Farmers Finance Card, it's important to evaluate your spending habits. If you frequently shop at stores that accept the card, you might find it beneficial. However, if your purchases are more varied, another card might suit you better.

It's wise to compare the Farmers Finance Card with other credit cards options. Look at factors like interest rates, rewards programmes, and additional fees. This will help you determine if this card offers the best value for your needs.

Consider your long-term financial goals. If you tend to carry a balance, the high standard interest rate could be a drawback. Make sure the card aligns with your financial objectives.

Special Promotions and Offers

Spend Back Prize Draw

When you use your Farmers Finance Card, you can enter the Spend Back Prize Draw. For every purchase made between specific dates, you get a chance to win one of several $10,000 Farmers Gift Cards. This is a great way to get rewarded for your regular shopping.

Extended Finance Offers

From time to time, Farmers offers extended finance deals. These promotions allow you to make larger purchases and pay them off over an extended period without incurring interest. Keep an eye out for these offers, especially during major sales events.

Seasonal Promotions

Farmers frequently runs seasonal promotions that provide additional benefits to cardholders. These can include discounts, bonus points, or special financing terms. Be sure to check the Farmers website or in-store announcements to stay updated on the latest offers.

Managing Your Farmers Finance Card Account

Online Account Access

You can easily manage your Farmers Finance Card account online. This allows you to check your balance, view recent transactions, and monitor your spending. Simply log in to your account through the Farmers Finance website to get started.

Payment Options

There are several ways to pay your Farmers Finance Card bill. You can set up a direct debit, make a payment through online banking, or pay in person at any Farmers store. Choose the method that works best for you to ensure your payments are always on time.

Handling Returns and Refunds

If you need to return an item purchased with your Farmers Finance Card, the process is straightforward. Simply bring the item back to the store where you bought it, along with your receipt. The refund will be processed back to your card, making it easy to manage returns and keep your finances in order.

Frequently Asked Questions

What is the Farmers Finance Card?

The Farmers Finance Card is a credit card issued by Farmers that you can use at thousands of stores across New Zealand. It offers benefits like interest-free periods and no annual account fees.

How do I apply for a Farmers Finance Card?

You can apply for the Farmers Finance Card online through the Farmers website or by visiting a Farmers store. You'll need to meet certain eligibility criteria, including age, residency, and credit history requirements.

What are the benefits of using the Farmers Finance Card?

Some key benefits include up to 55 days interest-free on purchases, no annual account fees, and acceptance at thousands of stores nationwide. There are also special promotions and prize draws.

Are there any drawbacks to the Farmers Finance Card?

Yes, the card has a high standard interest rate of 28.50% p.a. if you don't pay off your balance in full. The rewards programme is also limited, and there is a risk of overspending.

Can I manage my Farmers Finance Card account online?

Yes, you can access your account online to check your balance, make payments, and view your transaction history. This makes it easy to manage your finances from anywhere.

What special promotions are available with the Farmers Finance Card?

The card often features special promotions like the Spend Back Prize Draw, extended finance offers, and seasonal promotions. These can provide additional value and savings for cardholders.

Eligibility Requirements:

You generally have to meet the following criteria to apply for a credit card in New Zealand.

18 years or older
Live in New Zealand and are a New Zealand citizen or permanent resident
Have a valid email address and mobile number
Hold a current NZ Driver Licence or have a valid NZ or Australian Passport
Agree to a credit check
Agree to the card terms and conditions and privacy policy

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

Are you interested in a No annual fee credit card? Compare ALL no annual credit cards on our No fee credit cards page.

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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.