TSB Visa Classic Credit Card
Transfer your outstanding balance to the TSB Visa Classic and pay 0% interest for the first 6 months.
The TSB Visa Classic is the only credit card currently offered by TSB. It gives you access to credit wherever Visa is accepted and comes with a low card fee of $30 per year.
If you transfer the balance from another bank’s credit card you won’t pay any interest for the first 6 months, and visually impaired customers are able to find their card quickly with braille print on the front of the card.
While you’ll need to have a TSB account to apply for this card, you can easily fill in an application form online to get started.
|Product Name||TSB Visa Classic Credit Card|
|Balance transfer revert rate||18.5%|
|Purchase rate (p.a.)||18.5% p.a.|
|Annual Fee||$30 p.a.|
|Interest Free Period||Up to 55 days on purchases|
|Minimum Monthly Repayment||3% of transaction value or $10, whichever is greater|
|Late Payment Fee||$12|
|Complimentary Travel Insurance||No|
Benefits of the TSB Visa Classic
- Balance transfer. If you transfer the outstanding balance from other credit cards to your TSB Visa Classic, you pay 0.0% p.a. interest on that balance for the first 6 months. This allows you to consolidate your debt with less interest to be paid.
- Braille print. TSB helps visually impaired customers easily identify their Visa Classic card by printing ‘TSB C’ in braille on the card.
- Interest-free days. Get up to 55 days interest-free on purchases when you use your TSB Visa Classic.
- Accepted globally. Use your card anywhere in the world where Visa is accepted.
Features of the TSB Visa Classic
- Interest rate. An interest rate of 18.5% p.a. applies to purchases and cash advances using the TSB Visa Classic. A cash advance fee of $2 is charged in New Zealand or $5 for overseas transactions.
- Card fee. TSB charges a fee of $15 every 6 months for the first card. Additional or joint cards incur a cost of $2.50 per 6 months.
- Visa payWave. When making purchases in-store at Visa payWave retailers, tap your card on the machine. Payments are more secure since you don’t need to hand over your card, and you only need to enter your PIN if the transaction is $200 or over.
- Fraud protection. Verified by Visa and Visa’s Zero Liability policies help protect you against fraud and remove your liability when you meet its terms and conditions.
How to apply
If you want to apply for a TSB Visa Classic, you must have a TSB account. You can download a form from the website and take it to your local branch or complete an online application to open an account.
To be eligible to open a TSB account online you will need to:
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Have a smartphone or computer with a webcam.
To open your TSB account, you need a New Zealand Driver’s Licence or passport.
TSB also asks for other documentation while opening your account and applying for the TSB Visa Classic, which may include:
- Proof of address: A recent bank statement, utility bill or government letter
- Proof of income: Bank statements and/or payslips
TSB will advise you on exactly what you need during the application process, and in some cases, it may require more documents.
The bottom line
If you need to consolidate your debt, the TSB Visa Classic card gives you six months to get your spending under control. However, after six months, you incur a rather hefty 18.5%, so it is worth comparing your other balance transfer options.