TSB Bank Credit Cards
A low annual fee and the essential credit card features are all you need from a fuss-free credit card account, so TSB’s credit card offer is worth a closer look.
Sometimes simplicity is the best approach to personal finances. The TSB Visa Classic Credit Card is an easy-to-understand credit card that ticks the most important credit card boxes, while charging a low annual fee.
Originally known as the Taranaki Savings Bank, TSB was founded in 1850 and is headquartered in New Plymouth, providing financial services to individuals and companies across New Zealand. The bank is now owned by the TSB Community Trust with all profits retained in New Zealand.
The TSB credit card offer
The Visa Classic Credit Card from TSB can be used at millions of point of sale terminals around the world and as a Visa card will work for online payments at online stores in New Zealand and abroad. Your card also gets you access to cash around the clock and features contactless payment technology so you don’t need to enter your PIN every time you pay.
The annual fee on this card is just $30 per year, which is low, but you may be able to apply for a New Zealand credit card that charges no card fees. However, the card fee could be worthwhile if you find the bank’s customer service and branch locations convenient. Note that only TSB current account holders can apply for a TSB credit card.
Benefits of banking with TSB
- Low annual card fee. Pay your annual card fee of just $30 in two instalments of $15 when you open your account and then $15 every six months after that for as long as your credit card account is open.
- Flexible repayment options. TSB allows you to repay your credit card balance at a pace that suits you. With an affordable monthly minimum repayment requirement of 5% for balances over $200, you can repay your credit card balance when you can afford to. However, the quicker you repay your balance the less you will be charged in interest.
- Contactless payments with Visa payWave. It’s easy to pay for transactions of up to $80 with your TSB credit card. Always check the amount shown on the credit card terminal, and if you’re satisfied you are being charged correctly you can complete a payment simply by tapping your credit card on the terminal.
- Widely accepted. Issued on the Visa network, the TSB credit card is accepted wherever you see the Visa logo. This includes every point of sale terminal in New Zealand, and most points of sale overseas including online stores right around the world.
- Access to cash worldwide. You can use your TSB credit card to get cash advances from ATMs across New Zealand and the rest of the world. Cash withdrawals are subject to your existing credit limit and a $2,000-per-day limit, or local currency equivalent, when you’re abroad. Each cash advance will attract a fee, with a higher fee charged for cash withdrawn overseas.
How can I apply for a TSB credit card?
If you like the simplicity of the TSB Classic Credit Card and already have a bank account with TSB you can easily apply online, or by completing the credit card application form and returning it to TSB. Check the eligibility requirements before you apply.
- Citizenship or residency. Only citizens or residents of New Zealand can apply.
- Existing TSB account. You can only apply for a TSB credit card if you are a TSB account holder.
- Credit history. Your credit file should be free of bankruptcy and defaults.
Necessary documents and information
- Full employment and income details. You should be ready to supply full information about your current employer and your sources of regular income.
- Investments and savings. Disclosure of any investments and savings you have can help you to apply successfully.
Frequently asked questions about TSB credit cards
TSB’s Visa Classic Credit Card is a straightforward product, but we’ve listed some of the common questions about it. If you have any other questions, simply use the short form at the end of this page for a response.
The bottom line
If you already bank with TSB, the TSB Visa Classic Credit Card could be a good option as it charges a low annual fee and the application process will be straightforward. Existing TSB customers should also compare credit cards from competing banks, some of which offer lower interest rates or no annual fees.
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