Kiwibank Zero Visa credit card
Forget about annual account fees. The Kiwibank Zero Visa has zero account fees and a lower interest rate for purchases.
As well as no annual account fee, the Kiwibank Zero Visa has Kiwibank’s second-lowest interest rate for a credit card. There is no charge for joint or additional cards and you can qualify for up to 55 days interest-free by paying your balance off in full each month.
Depending on when you apply, you may be able to take advantage of Kiwibank’s balance transfer promotion, where you can pay 1.99% p.a. interest for 6 months.
|Product Name||Kiwibank Zero Visa|
|Purchase rate (p.a.)||12.9% p.a.|
|Annual Fee||$0 p.a.|
|Interest Free Period||Up to 55 days on purchases|
|Min credit limit||$500|
|Minimum Monthly Payment||5% of transaction value or $10, whichever is greater|
|Late Payment Fee||$5|
|Complimentary Travel Insurance||No|
|Available To Temporary Residents||No|
Benefits of the Kiwibank Zero Visa
- No account fee. You won’t pay any account fees on your Kiwibank Zero Visa from the day you start using it until its expiry date.
- Lower interest rate. While not the lowest interest rate on offer from Kiwibank, this card does have a rate of 12.9% p.a. for both purchases and cash advances.
- Joint and additional cards. There are no account fees if you request a joint or additional card for your Kiwibank Zero Visa.
Features of the Kiwibank Zero Visa
- Interest-free days. If you pay off your balance before the due date each month you qualify for up to 55 days interest-free on purchases.
- Monthly repayments. Each month you are required to pay either $10 or 5% of the balance, whichever is greater.
- Balance transfer. Kiwibank runs promotions where you can transfer an outstanding balance from another credit card to your Kiwibank Zero Visa and pay no interest for a specified time period. The current promotion is 1.99% p.a. interest on the transferred balance for 6 months.
- FraudWatch International. FraudWatch International protects Kiwibank credit cards. All activity is monitored, and if anything looks out of the ordinary, Kiwibank contacts you or put a temporary block on the card until you can verify the transaction is valid.
How to apply
To apply for the Kiwibank Zero Visa, make sure that you meet the eligibility criteria and compare the interest rate and benefits with other credit cards.
You can visit a branch or complete an application form online.
- 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
Once Kiwibank has reviewed your application, you will need to verify your identity and address if you are a new customer. You may also need to verify overseas tax residency if applicable.
You can verify your identity by sharing your RealMe profile. If you are not set up on RealMe, you can use ID Checker if you have a smartphone, or you need to go into a branch with your identification and proof of address.
- You can use either your passport or your driver’s licence and another bank card with your name and signature for your identification.
- For proof of address, a utility bill, bank statement, store account statement, doctor’s letter or government letter from the last six months are sufficient.
You also need to prove your income, but Kiwibank will advise you on what documentation you need to do this.
The bottom line
The Kiwibank Zero Visa is yet another low-interest credit card from Kiwibank. Still, it also offers a lower interest rate on cash advances, which can be crucial to some. Plus, it provides a great choice with zero fees, but make sure you check out the other credit cards on offer before making that decision.