ASB Visa Platinum Rewards credit card
Earn rewards faster and get access to overseas travel insurance with ASB’s highest-earning personal rewards card.
The ASB Visa Platinum Rewards card allows you to earn rewards for spending at a faster rate than the ASB Visa Rewards card.
While the annual account fee is twice as much, it has a slightly lower interest rate, access to overseas travel insurance, and you will be able to reap the reward benefits sooner.
|Product Name||ASB Visa Platinum Rewards Credit Card|
|Purchase rate (p.a.)||19.95% p.a.|
|Annual Fee||$80 p.a.|
|Interest Free Period||Up to 55 days on purchases|
|Min credit limit||$8,000|
|Minimum Monthly Payment||3% of transaction value or $10, whichever is greater|
|Late Payment Fee||$9|
|Complimentary Travel Insurance||Yes|
|Available To Temporary Residents||No|
Benefits of the ASB Visa Platinum Rewards card
- Get rewarded for everyday spending. Be rewarded with True Rewards or AA Smartfuel discounts when you use your card to shop online, buy groceries, pay bills and book travel. You can easily switch between the two types of rewards.
- True Rewards. For every $100 you spend on your ASB Visa Platinum Rewards card you earn 1 True Rewards dollar. True Rewards dollars can be redeemed at partner stores, for flights and accommodation at House of Travel and at the online True Rewards store. You can also convert your dollars into KiwiSaver contributions, gift them to a friend or family member, or donate to a charity.
- AA Smartfuel discounts. For every $50 you spend on your card, you earn 1c off per litre with AA Smartfuel discounts. Fuel discounts are applied to your account every Tuesday and can be used for a maximum of 50 litres at a time.
- Transfer your balance. If you transfer the balance from an existing credit card to your ASB Visa Platinum Rewards card, you won’t pay interest on the balance for 6 months.
- Mobile payments. Connect your ASB Visa Platinum Rewards card to your Google Pay, Garmin Pay, Fitbit Pay or Apple Pay account to make payments with your phone or watch.
- Overseas travel insurance. When you pay for a minimum of 50% of return travel tickets on your Platinum Visa or with True Rewards, you automatically have access to overseas travel insurance for up to 90 days. Travel insurance includes medical expenses, trip cancellation, lost or stolen luggage and accidental death or injury. Your spouse and dependent children travelling with you are also covered, as long as you meet the terms and conditions.
Features of the ASB Visa Platinum Rewards card
- Account fee. The ASB Visa Platinum Rewards card has an annual fee of $80 charged at $40 every 6 months.
- Interest rate. An interest rate of 19.95% p.a. applies to purchases and 22.95% p.a. for cash advances.
- Joint card. If you request a joint card for a friend or family member, there is an account fee of $27.50 every 6 months.
- Additional card. Additional cards have a 6-monthly account fee of $15.
- ASB Card Control. ASB’s Card Control app allows you to manage your card from your mobile phone. You can put a temporary block on your card if you happen to misplace it, set a spending limit, and turn different kinds of transactions on and off.
How to apply
Before applying for the ASB Visa Platinum Rewards card, ensure that you meet the eligibility requirements and compare the benefits, interest rate and fees with other similar cards.
To get your application underway, you can call the ASB contact centre, visit a branch, or complete an online application, which takes approximately 5-10 minutes to complete. ASB asks you to provide personal and financial information so it can assess your creditworthiness.
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Have a regular income with enough money left over after expenses to make repayments
- Agree to a credit check
If you are a new customer to ASB, you need to provide documentation to prove who you are and your income. Documents you are likely to be asked for include:
- Valid photo ID: Passport or driver’s licence
- Proof of address: Recent phone or utility bill
- Proof of income: At least 3 months of bank statements from your main transactional account
ASB will inform you of exactly which documents you need to supply. In some cases, more information may be required to decide on your application, but you can expect to get a response within 1-2 working days.
The bottom line
If you decide to apply for an ASB Visa Platinum Rewards card, you can choose between True Rewards or AA Smartfuel discounts, with the bonus of switching between the two as much as you like. However, ensure your rewards earn rate offsets the credit card’s annual fee and other charges. It also pays to look at the other credit cards on offer before making the final decision.