Kiwibank Platinum Visa credit card
Get built-in travel insurance and a higher credit limit with the Kiwibank Platinum Visa.
While the Kiwibank Platinum Visa has fewer benefits as other similar credit cards, it’s worth considering for anyone who wants a higher credit limit of up to $20,000.
It has a lower interest rate than most platinum cards with reward schemes, and you can take advantage of overseas travel insurance when you use your card to book your travel arrangements.
If you already have a home loan or savings of at least $150,000 with Kiwibank then your account fee will be waived, and it’s possible to transfer your existing credit card balance and pay a low rate for 6 months.
|Product Name||Kiwibank Platinum Visa|
|Purchase rate (p.a.)||13.95% p.a.|
|Annual Fee||$80 p.a.|
|Interest Free Period||Up to 55 days on purchases|
|Min credit limit||$8,000|
|Max credit limit||$20,000|
|Minimum Monthly Payment||5% of transaction value or $10, whichever is greater|
|Late Payment Fee||$5|
|Complimentary Travel Insurance||Yes|
|Available To Temporary Residents||No|
Benefits of the Kiwibank Platinum Visa
- Access to more credit. The minimum credit limit you can apply for is $8,000, with the maximum limit being $20,000.
- Built-in travel insurance. When you use your Kiwibank Platinum Visa to pay for overseas flights, at least one night of accommodation, a prepaid tour, rental car or transport ticket, you’ll qualify for travel insurance. The policy is provided by Tower Insurance for up to 40 days, and your spouse and dependent children who are travelling with you are also covered.
- Annual account fee waiver. If you have deposits of at least $150,000 or a home loan with Kiwibank your account fee is waived.
- Interest-free days. If you pay off your account balance in full before the due date each month you’ll qualify for up to 55 days interest-fee.
Features of the Kiwibank Platinum Visa
- Interest rate. The Kiwibank Platinum Visa has a purchase interest rate of 13.95% p.a. The same rate applies to cash advances.
- Account fee. Every 6 months, an account fee of $40 will be charged to your account.
- Transfer your balance. During promotional periods, Kiwibank will not charge you interest for a specified time frame if you transfer the balance from a non-Kiwibank card to your Kiwibank Platinum Visa. The current promotion on offer is 1.99% p.a. interest for 6 months.
- FraudWatch International. All Kiwibank credit cards are protected by FraudWatch International with activity being monitored for fraudulent transactions. If a transaction or series of transactions look out of the ordinary, Kiwibank will contact you to confirm that you made the transactions or put a temporary block on the card until they can contact you.
How to apply
If you’re compared it with other credit cards you’re ready to apply for the Kiwibank Platinum Visa, check that you meet the eligibility requirements and that you understand the interest rate, fees and benefits.
To start the process, you can visit a branch or complete an application on the Kiwibank website. Once you have submitted this form, you can expect someone to get in touch with you within 1-3 working days.
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Have a good credit history and agree to a credit check
New customers are required to verify their identity and address before being approved for a Kiwibank credit card. If you have signed up to RealMe, this will save you some time as you can do everything from home.
If you are not set up on RealMe, you will need to take your photo ID and proof of address into a Kiwibank branch.
Acceptable forms of ID include your passport or your driver’s licence and another bank card that has your name and signature on it.
To prove your address, you will need to take with you a bank statement, utility bill, government or doctor’s letter or a store account statement.