[akp713]

I was just wondering how NZ credit cards compare to US ones. I've been getting offers here as low as 9.99%APR on purchases, though most are 12.99% or 14.99%. I've heard that NZ's reserve bank has some of the higest interest rates in the OECD and that mortgage interest rates are high as a result. I'm no economist, so I want to know if that means credit card APR's are higher too. If I get a card in NZ am I looking at 20% or more?

If I get a card in the US I'll be charged 3% for every transaction in NZ dollars, so I'm thinking of waiting till I'm over there.

Any suggestions on which banks have the best credit card offers would be good as well.

I've never had my own credit card and never needed one, just rely on my debit card (EFTPOS), but it might be good to have for emergencies in NZ.

[IanW99]

Check out this link Cedit Card interest rates in NZ (http://www.interest.co.nz/creditcards.asp) for details.

Ian

[Smiler]

The annual fees for the CC's quoted there are more than the current charged fees though, sometimes as much as double. :confused:

[IanW99]

The annual fees for the CC's quoted there are more than the current charged fees though, sometimes as much as double. :confused:

Interesting, checked the ASB details and they are correct.

Just curios, which ones are wrong?

Ian

[Smiler]

ASB and BNZ fee are all I've checked so far and I'm paying less as an annual fee.

[IanW99]

ASB and BNZ fee are all I've checked so far and I'm paying less as an annual fee.

The ASB details match those on their website. And from the few I have just checked on BNZ they also seem to match. It looks like the BNZ rates have just increased (1st November) but the website appears to have the latest figures. I did notice that the website quotes annual fees but the banks are quoting 6 month fees?

Must admit, I thought our ASB charges were less than quoted (haven't checked them though)?

Ian

[aggelon]

I still use my trusty UK credit card, no annual fees, no transaction fees and 8.9% if I don't pay it all off each month (which I nearly always do so 0% interest as well in actuality)

[debleo]

I was just wondering how NZ credit cards compare to US ones. I've been getting offers here as low as 9.99%APR on purchases, though most are 12.99% or 14.99%. I've heard that NZ's reserve bank has some of the higest interest rates in the OECD and that mortgage interest rates are high as a result. I'm no economist, so I want to know if that means credit card APR's are higher too. If I get a card in NZ am I looking at 20% or more?

If I get a card in the US I'll be charged 3% for every transaction in NZ dollars, so I'm thinking of waiting till I'm over there.

Any suggestions on which banks have the best credit card offers would be good as well.

I've never had my own credit card and never needed one, just rely on my debit card (EFTPOS), but it might be good to have for emergencies in NZ.
Capital One in USA does not charge an international transaction fee...check that out! Good luck.

[akp713]

Thanks for all the replies, that web site was really useful! That's good to hear about Capitol One. It so happens that I am still a cardholder on my parents Capitol One Gold Card so in case of emergency I could use that. Otherwise I'll probably stick to debit card, I have enough debt in student loans as it is and those APR's are pretty high. I don't want to pay an annual fee for a card I'll barely use.