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BNZ Lite Visa

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The BNZ Lite Visa is an excellent choice for people who want a quality credit card without all of the cost.

The BNZ Lite Visa credit card can be ideal for customers who want to take advantage of a low purchase interest rate. It’s also a considerable option for those who wish to reduce the amount they pay in interest charges each month and keep credit card fees to a minimum.

12.9% p.a.

Purchase Rate

$30 p.a.

Annual Fee


Minimum Income


Product NameBNZ Lite Visa
Purchase rate (p.a.)12.9% p.a.
Annual Fee$30 p.a.
Interest Free PeriodUp to 55 days on purchases
Cash advance rate (p.a.)22.95% APR
Min credit limit$500
Minimum Monthly Repayment2% of transaction value or $25, whichever is greater
Minimum Income$15,000
Card TypeVisa
Late Payment Fee$2
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationYes

BNZ Lite Visa Credit Card Overview

The Bank of New Zealand Lite Visa credit card is the perfect choice for those customers who sometimes take a little time to repay the outstanding balance on their credit cards. Rather than pay exorbitant interest rates, the Lite Visa credit card lets you enjoy a low interest rate on purchases made using the card. This helps to keep your costs to a minimum while you focus on repaying the outstanding balance.

Additionally, the monthly account fee for the Lite Visa account is also kept to a minimum to help reduce your costs further.

Benefits Of The BNZ Lite Visa

  • Purchase Rate – One of the biggest costs associated with any credit card is the purchase interest rate. The BNZ Lite Visa comes with a rock bottom purchase interest rate of only 12.9% per annum. That is far cheaper then many cards on the market and will make it easy for you to control your balances. You also get up to 55 interest free days, as long as you paid off the previous month’s balance. Taking full advantage of that benefit allows you to finance big purchases for nothing.
  • Low Payments – Sometimes cash is a little tighter than others. During those times, you can choose to pay only $25 or 2% of your outstanding balance each month. If you are over your limit or have a past due amount, that will also have to be paid. Although you will still be charged interest on the full debt, these low payments can help you get through the lean times.
  • Cash Advances – Whether you are in New Zealand or abroad, you can go to an ATM and withdraw cash from your credit card. The cash advance rate is 22.95% per annum. Keep in mind that these transactions have no interest free period, so you start paying for them immediately.
  • Low Cost – Unlike some cards that charge hundreds of dollars in annual fees, with this one, the annual fee is only $30. If you add an additional card, the added fee is only $3. Other costs that you could be charged include a late payment fee of $2, a statement copy fee of $5, and an over the limit fee of $2 per statement.
  • Security – Everyone wants to know that when they swipe their card they are protected with the most technologically advanced security features. This card comes with these protections. Each time you make a balance inquiry, cash advance, or mini statement, your account is updated which protects you from fraudsters. When you shop online, look for the MasterCard SecureCode or Verified by Visa logo for added protection.

Owning a BNZ Lite Visa is a great way to save money without sacrificing anything. You still get all of the convenience and security that you expect from a credit card. On top of that, you have excellent interest rates and the chance to set your payments so they meet your monthly budget. Do not waste any more money on those expensive credit cards. Instead, get a quality card at a price that makes sense for your budget.

Using the BNZ Lite Visa Credit Card to Reduce Debt

If you’ve been working hard to repay a credit card debt for some time but don’t seem to be getting anywhere, perhaps the BNZ Lite Visa card could be the solution for you. Rather than continue to keep paying high interest rates with another bank’s credit card account, simply apply for the special low balance transfer option with BNZ.

This allows you to take advantage of a discounted interest rate on balance amounts you transfer over from other banks for the first six months. As your interest charges are significantly reduced, you’ll have the benefit of knowing that any repayments you make on your card are going towards reducing your balance instead of being eaten away by interest charges.

The biggest benefit to this is that you get to reduce your credit card debt far more quickly. Do note that balance transfers are subject to BNZ’s terms and may not always be available depending on when you apply.

Flexible Repayment Options

The Bank of New Zealand understand that everyone may have different preferences when it comes to making their credit card repayments. For this reason they’ve put together multiple flexible payment options.

You can choose to make your minimum monthly payments via direct debit. Simply fill in the direct debit request form and your payment amount will be deducted from your nominated account on the designated date.

If you prefer, you can also set up an automatic payment option. This is ideal if you prefer to make several smaller repayments throughout each month to coincide with your salary pay-date schedule. For example, instead of making one payment of $100 per month, you might decide to set up an automatic payment of $25 per week.

You can also transfer funds into your account from an existing BNZ account, or use Online Banking or Telephone Banking to transfer money from your account.

As long as you make at least the minimum payment amount due each month, it’s up to you how you make your payments.

Who Is Best Suited to the BNZ Lite Visa Credit Card?

Any customer who is likely to take some time to repay the amounts they spend on a credit card can benefit from the Lite Visa card. This is because the interest rate charged on purchases is far lower than comparative credit card accounts. It gives you the chance to pay for the things you need, yet you’ll still know you’re paying less than you could while you work to repay that balance.

Of course, if you’re able to repay your entire outstanding balance in full before the due date, you can also benefit from up to 55 days with no interest charged on purchases you make.

Some people use their cards to earn points toward fancy reward schemes. While those schemes can be valuable, they come at a high price. If you would rather not spend the extra money, but still want the convenience and security that comes with using plastic, this is the perfect card for you. With this card, you get loads of conveniences and low cost without having to spend loads of cash too.

Compare other credit cards

Name Product Purchase Rate Interest Free Period Annual fee
Gem Visa Credit Card
25.99% p.a.
Up to 55 days on purchases
6 months interest free on all Visa purchases $250 and over, plus get long-term interest-free deals at retailers nationwide including Apple, Noel Leeming, Mitre 10 and many more.
American Express Airpoints Card
0% for 6 months (reverts to 19.95% p.a.)
Up to 55 days on purchases
Be rewarded with 50 bonus Airpoints Dollars. Simply apply, be approved, and spend $750 on your new Card in the first 3 months of membership. This offer is available to new Card Members only.
American Express Airpoints Platinum Card
19.95% p.a.
Up to 55 days on purchases
Be rewarded with 400 bonus Airpoints Dollars when you apply online by 30 March 2021, are approved, and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members only. You will also earn 1 Airpoints Dollar for every $59 you spend on your card.
American Express Platinum Edge Credit Card
2.99% for 6 months (reverts to 19.95% p.a.)
Up to 55 days on purchases
Enjoy a low rate on purchases and earn 20,000 Membership Rewards Bonus Points if you apply, are approved and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.

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