The ASB Visa Light is ASB’s low-rate credit card: 13.50% p.a. on purchases, with no account fee (as published by ASB, May 2026). Here’s how it compares with the other low-rate cards.
The ASB Visa Light charges 13.50% p.a. on purchases and has no account fee, and ASB's Smart Rate gives 0% p.a. for 6 months on any single eligible purchase of $1,000 or more. A low rate only saves money if you carry a balance: on $2,000 it costs $149/year less than a 20.95% card. The Kiwibank Zero Visa (12.90%) charges slightly less and the ANZ Low Rate Visa (13.90%) slightly more (checked 14 October 2026). If the balance is always paid in full, no purchase interest is charged, so the rate makes no difference.
ASB Visa Light — Key Facts
| Feature | Detail |
|---|---|
| Annual fee | $0 (no account fee) |
| Interest rate | 13.50% p.a. on purchases (May 2026) |
| Smart Rate | 0% p.a. for 6 months on any single eligible purchase of $1,000 or more |
| Interest-free period | Up to 55 days |
| Card network | Visa |
| Rewards | None |
| Foreign transaction fee | ~2.5% |
| Minimum credit limit | Check with ASB |
| Contactless / Apple Pay | Yes |
Note: Always verify current fees and rates with ASB directly before applying — terms can change.
The 13.50% Rate in Context
Most standard NZ credit cards charge 20.95% p.a. The ASB Visa Light’s 13.50% rate is a significant reduction:
| Balance | 20.95% card | 13.50% ASB Visa Light | Annual saving |
|---|---|---|---|
| $1,000 | $209.50 | $135 | $74.50 |
| $2,000 | $419 | $270 | $149 |
| $5,000 | $1,047.50 | $675 | $372.50 |
If you carry a balance of $2,000, the ASB Visa Light saves you $149/year in interest compared to a standard card.
Features and Limitations
Features:
- 13.50% p.a. on purchases, with no account fee
- 0% p.a. for 6 months on any single eligible purchase of $1,000 or more (Smart Rate)
- Up to 55 interest-free days
- Visa network
Limitations:
- No rewards
- A slightly higher rate than the Kiwibank Zero Visa (12.90%)
- ~2.5% foreign transaction fee
ASB Visa Light vs Key Competitors
| Card | Annual fee | Interest rate | Notes |
|---|---|---|---|
| ASB Visa Light | $0 | 13.50% | 0% Smart Rate on purchases of $1,000+ |
| ANZ Low Rate Visa | $0 | 13.90% | No annual fee |
| BNZ Lite Visa | $5 half-yearly | 13.50% | Account fee |
| Kiwibank Zero Visa | $0 | 12.90% | 1.85% fee on overseas transactions |
| Westpac Low Rate Mastercard | $0 | 13.9% | No fee (not re-checked) |
ANZ, BNZ and Kiwibank figures checked on the issuers’ pages 14 October 2026. The full side-by-side comparison is in low interest credit cards NZ.
Fee vs rate: the ANZ Low Rate Visa, ASB Visa Light, Kiwibank Zero Visa and Westpac Low Rate Mastercard have no annual fee, so on a carried balance the rate decides the cost. The BNZ Lite Visa has a $5 half-yearly account fee.
Smart Rate: 0% on Large Purchases
When you make a single eligible purchase of $1,000 or more with the card, ASB applies its Smart Rate of 0% p.a., fixed for 6 months, automatically. After the 6 months, the standard purchase rate (13.50% p.a.) applies to anything left owing. ASB says the offer details (the 0% rate, the $1,000 threshold and the 6-month period) are subject to change.
You still need to make at least the minimum payment each month; ASB charges a $4.00 late payment fee if you don’t.
If You’re Switching to Reduce Interest
If you currently have a balance on a standard 20.95% credit card, moving it to a low-rate card reduces the interest charged. The usual steps:
- Apply for the low-rate card (or check whether the bank offers a balance transfer promotion)
- Avoid using the old card for new spending
- Pay down the balance with the interest saved
- Once clear, decide whether to keep the low-rate card as backup or cancel it
Summary
The ASB Visa Light charges 13.50% p.a. with no account fee, and 0% for 6 months on single purchases of $1,000 or more. It reduces the cost of a carried balance: $149/year less than a 20.95% card on $2,000. The Kiwibank Zero Visa charges slightly less (12.90%). If the balance is always paid in full, the low rate saves nothing.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- interest.co.nz credit card rates: tables of current credit card interest rates and fees.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
Next Steps
- Low interest credit cards NZ: full low-rate card comparison
- How credit cards work in NZ: how interest is calculated
- No annual fee cards NZ: if you’ll always pay in full