Farmers Mastercard
Collect Farmers Club Points anywhere you use your card and enjoy long term finance deals for those big-ticket purchases.
What is Farmers Mastercard?
Farmers Mastercard combines the features of a credit card and a store finance card for larger purchases at a variety of participating retailers. You can collect Farmers Club Points for every purchase made wherever you use your card.
Being globally accepted, Farmers Mastercard can be used for purchases anywhere you see the Mastercard logo and all purchases come with an interest-free period of up to 55 days.
Lending criteria, fees, and Ts&Cs apply. The standard interest rate of 25.95% p.a. applies after the interest-free period.
Details
| Product Name | Farmers Mastercard |
|---|---|
| Standard Interest Rate (p.a.) | 25.95% |
| Annual fee | $50 |
| Interest Free Period | Up to 55 days on purchases |
| Minimum Monthly Payment | 3% of transaction value or $10, whichever is greater |
| Card Type | Mastercard |
| Late Payment Fee | $15 |
| Complimentary Travel Insurance | No |
| Available To Temporary Residents | No |
Benefits and features of Farmers Mastercard
- Interest-free period. Every purchase in New Zealand and overseas comes with up to 55 interest-free days. No minimum spend required.
- Farmers Club Points. For every $10 you spend on your Farmers Mastercard you collect 1 Farmers Club Point. If you use your Farmers Club Card when making a purchase, you collect even more points. Once you accumulate 250 points you receive a voucher to use at Farmers.
- Additional cardholders. You can add up to 4 additional cardholders for free and collect Farmers Club Points for all purchases.
- Exclusive offers. As a Farmers Mastercard cardholder, you have access to exclusive offers, competitions and promotions.
- Contactless payments. Connect your card with Apple Pay for safe and fast shopping using your Apple device.
Farmers Mastercard long term finance deals
If you want to make larger purchases, you can take advantage of long-term finance deals at participating retailers, travel agents and healthcare services around the country.
Finance deals include interest-free payments and/or deferred payments for things like household goods, dental work, holidays, new carpet, electronics or tools.
Some retailers and healthcare providers that offer long-term finance deals include:
- Specsavers
- House of Travel
- Farmers
- Stihl
- Mitre 10
- JB Hi-Fi
- Lumino
- Hunting & Fishing
- Carpet Court
- PB Technologies
- Vivo Hair & Beauty
- Evolution Cycles
Fees and charges
- Annual account fee. An account fee of $50 is charged each year, split into two payments – $25 upon opening your account, and $25 every six months thereafter.
- Interest rate. The standard interest rate for Farmers Mastercard is 25.95% for purchases and 27.5% for cash advances. Long term finance deals may be subject to interest-free finance periods, but the standard interest rate apply once this ends.
- Establishment fee. When you use your card for long term finance the first time, you are charged an establishment fee of $55.
- Advance fee. For further long term finance purchases, an advance fee of $35 is charged.
- Cash advance fee. Cash advances are subject to a $2 fee when withdrawing from a domestic ATM or $3 from an international ATM.
- International transaction fee. A fee of 1.4% is charged when you use your card for a foreign currency transaction.
- Minimum monthly payment. A minimum monthly payment of 3% of the monthly closing balance or $10 (whichever is greater) is required during the interest-free period. An additional minimum payment amount may apply for long term finance purchases.
Additional fees apply for replacement cards, paper statements, variation of payment terms, making withdrawals from a teller and defaulting on payments.
How do I manage my Farmers Mastercard?
To manage your Farmers Mastercard, you can download the app from the App Store or Google Play.
- This app allows you to:
- Activate your card for the first time and set up your PIN
- View your balance and available credit
- See your card details for easier online shopping
- Download statements for the last six months.
To pay your account, you can set up a direct debit by downloading a form from the website or do it over the phone. You can also use your Internet banking to pay by automatic payment or bill payment.
If you prefer to do things over the phone, you can call customer service on 0800 990 077.
How to apply for Farmers Mastercard
Before applying for a Farmers Mastercard, check that you meet the eligibility criteria and have the appropriate documentation ready. The application takes around five minutes, and you can start by hitting the ‘APPLY’ button in the top right corner of Farmers Mastercard website.
Eligibility criteria
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Reside in New Zealand
- Have a valid email address and phone number
- Hold a current NZ driver licence or a valid New Zealand or Australian passport
- Agree to a credit check
Bear in mind that all applications are subject to the issuer’s lending and credit criteria.
Documents required
When you apply for Farmers Mastercard, you will need the following documents:
- Photo ID. A New Zealand passport or driver’s licence, or an Australian passport
- Proof of address. A bank statement, utility bill, IRD letter or insurance policy. Your document should be dated within the last three months and have the correct printed address.
The bottom line
If you’re a fan of Farmers, then its Mastercard could be just the credit card for you, but it does come with quite a hefty standard interest rate of 25.95% p.a. The card offers interest-free options at some of New Zealand’s leading retailers if you need to purchase a more expensive item. In addition, everywhere Mastercard is accepted, you can collect Farmers Club Points, plus if you use your Farmers Club Card, you can collect double the points. Just remember, there are other cards out there, so make sure you compare your options before applying.