SBS Visa Credit Card

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The SBS Visa Credit Card is a cash back credit card that charges no annual fee and allows you to earn $1 cash back for every $150 spent on eligible transactions. It charges no annual fee and no additional card fee. The SBS Visa Card comes with an interest rate of 19.65% p.a. on purchases and 22.65% p.a. on cash advances.

The SBS Visa Credit Card might be a suitable card for you if you want to earn cash back rewards and can afford to pay off your credit card balance on time each month. It might also be a suitale card for casual credit card holders as it charges no annual fees. Overall we think the SBS Visa Credit Card is a good credit card but it might still help to compare all rewards credit cards on our website to help them make an informed decision.

Rewards Points Cash Equivalent

$100 spend earns you $0.66 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 $150 spend earns you 1 Cash back then $100 spend earns you (100/150) = $0.66 cash back.

Key Features

Purchase Rate: 19.65%
Cash Advance Rate: 22.65%
Balance Transfer: Unknown
Annual Fee: $0.00
Interest Free Days: 55 days
Minimum Repayment:
Card Reward Details: Earn $1 for every $150 spent on Eligible Transactions
Credit Limit:
Other Fees:

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

SBS Visa Credit Card Review

Pros and Cons

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

Pros

Earn Cash Back Rewards
No Annual Fee
No charges for additional card

Cons

Foreign Transaction Fees
Limited Benefits

What we like about the SBS Visa Credit Card

Rewards Program

The SBS Visa Credit Card offers a compelling rewards program. You earn cash back for every dollar spent, which can be redeemed for cash. This makes everyday purchases more rewarding.

No Annual Fees

The SBS Visa Credit Card comes with no annual fees, making it a cost-effective choice for budget-conscious individuals. You can enjoy all the benefits of the card without worrying about an annual fee eating into your savings. This feature makes the card accessible to a wider range of people, including those who may be new to credit cards or looking to minimise their expenses.

Low Interest Rates

One of the standout features of the SBS Visa Credit Card is its low interest rates. This can save you a significant amount of money over time, especially if you tend to carry a balance from month to month. Lower interest rates mean less money spent on interest and more savings in your pocket.

Drawbacks of the SBS Visa Credit Card

Limited Benefits

Aside from the cash back rewards this card offers limited benefits to its cardholders which isn't that suprising as it charges no annual fee.

No Introductory Offers

Unlike many other credit cards, the SBS Visa Credit Card does not come with any introductory offers. There are no initial low-interest rates or bonus reward points to attract new users. This lack of promotional incentives might make it less appealing compared to other cards that offer such benefits.

Foreign Transaction Fees

Another downside is the foreign fees for transactions made overseas or in foreign currencies.

Is the SBS Visa Credit Card right for me?

The SBS Visa Credit Card is best suited for individuals who are looking for a straightforward credit card with no annual fees and low interest rates. It is ideal for those who prefer to earn rewards on everyday purchases and do not frequently travel internationally. This card is also a good fit for people who are diligent about making timely payments to avoid high late payment fees.

When compared to other credit cards available in New Zealand, the SBS Visa Credit Card stands out due to its no annual fee policy and competitive interest rates. However, it may fall short for those who seek extensive benefits such as complimentary travel insurance. Other credit cards might offer better perks for frequent travellers or those looking for initial bonuses.

How to Apply for the SBS Visa Credit Card

Online Application Process

Applying for the SBS Visa Credit Card online is straightforward. Follow these steps:

Click on "Apply Now" on this page to visit the SBS Bank website.
Click on the 'Apply Now' button on the credit card page.
Fill out the application form with your personal and financial details.
Submit the form and wait for a confirmation email.

In-Branch Application

If you prefer a face-to-face interaction, you can apply for the SBS Visa Credit Card at any SBS Bank branch. Here's what you need to do:

Visit your nearest SBS Bank branch.
Speak with a customer service representative.
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 a response.

Approval Timeline

The approval timeline for the SBS Visa Credit Card can vary. Generally, you can expect to hear back within 5-7 business days. If additional information is required, the process may take longer. Keep an eye on your email for updates and further instructions.

Frequently Asked Questions

What is the minimum age to apply for the SBS Visa Credit Card?

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

Do I need to be a New Zealand resident to get the SBS Visa Credit Card?

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

What kind of income do I need to qualify for the SBS Visa Credit Card?

There is no specific income requirement, but you should have a steady income to show that you can pay off the credit card balance.

Are there any annual fees for the SBS Visa Credit Card?

No, there are no annual fees for the SBS Visa Credit Card.

Can I use the SBS Visa Credit Card overseas?

Yes, but foreign transaction fees will apply.

How long does it take to get approved for the SBS Visa Credit Card?

The approval process usually takes a few business days, but it can vary depending on your individual circumstances.

Eligibility Requirements:

Your eligibility for this card would depend on a few criteria listed below. When you apply for a SBS Bank credit card, SBS Bank 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 free credit card? Compare ALL No-annual fee credit cards on our No annual 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.