A first credit card starts a record on your credit report that lenders, including mortgage lenders, can see later. This page covers the figures to compare and how a card’s use shows up on your credit history.
For a first card, the main numbers are the annual fee and the interest rate. The Kiwibank Zero Visa has no annual fee and charges 12.90% p.a. on a carried balance; the ANZ Low Rate Visa has no annual fee and charges 13.90% p.a.; the BNZ Lite Visa charges 13.50% p.a. with a $5 half-yearly account fee (all checked 14 October 2026). A card that is paid in full by every due date costs no interest.
What to Compare
| Feature | What it means for a first card |
|---|---|
| Annual fee | A $0 fee card costs nothing to hold if the balance is always paid in full |
| Interest rate | Matters whenever a balance is carried past the due date |
| Credit limit | The limit can be set lower than the amount offered |
| Rewards | Rewards cards usually have higher rates and annual fees |
| App | Spending notifications show the balance as it builds |
| Network | Visa and Mastercard are accepted more widely in NZ than American Express |
No-Fee and Low-Rate Cards
Providers are listed alphabetically.
| Card | Annual or account fee | Purchase rate | Overseas transaction fee |
|---|---|---|---|
| ANZ Low Rate Visa | $0 | 13.90% | See ANZ |
| BNZ Lite Visa | $5 half-yearly | 13.50% | See BNZ |
| Kiwibank Zero Visa | $0 | 12.90% | 1.85% |
| Westpac Low Rate Mastercard | $0 | 13.9% (not re-checked) | See Westpac |
Rates and fees for these cards, with cash advance rates and interest-free days, are compared in low interest credit cards NZ. The Kiwibank Zero Visa has its own review.
Cards With Extra Costs for a First Card
| Card type | What to know |
|---|---|
| Rewards card with an annual fee | The rewards only cover the fee above a certain spend (see the break-even figures below) |
| High credit limit | A higher limit allows a larger balance to build up |
| Store cards | Usually charge higher interest rates than bank low-rate cards and can only be used at some retailers |
Avoiding Interest on a First Card
Spend what’s already in the bank
A credit card defers payment by a few weeks; it doesn’t add money. Purchases that are covered by money already in your account can be paid off in full when the statement arrives.
An automatic payment for the full balance
Most NZ banks let you set an automatic payment of the full closing balance on the due date, so the card is cleared each month without remembering to do it. If the account linked to the payment doesn’t hold enough to cover it, you find out before the due date.
Watching the balance
Banking apps show a credit card balance in real time, so it can be checked before the statement arrives.
Choosing a lower limit
Banks often approve a higher limit than requested. You can ask for a lower limit when applying or later, and ask for an increase once you need it.
How interest is charged when a balance isn’t cleared is explained in how credit cards work in NZ.
How a Credit Card Builds Your Credit History
Under comprehensive credit reporting, lenders can see whether each repayment on a card was made on time. Regular use and on-time repayment over 12 to 24 months builds a positive repayment history that lenders, including mortgage lenders, can see. Missed payments are recorded too. See NZ credit reporting explained.
Moving to a Different Card Later
After a period of paying in full, a rewards card is worth comparing when the rewards would exceed its fee. For example, valuing one Airpoints Dollar at $1:
- The ANZ Airpoints Visa ($65 a year, 1 Airpoint per $170 spent) earns its fee back at $11,050 of spending a year
- The ANZ Airpoints Visa Platinum ($150 a year, 1 Airpoint per $110 spent) earns its fee back at $16,500 a year, and ANZ says its platinum cards include up to 90 days of overseas travel insurance, subject to eligibility
(Fees and earn rates checked on ANZ’s pages 14 October 2026.) Closing a card ends its account history; keeping it open with a $0 balance keeps the history and the limit. Cards by type: credit cards NZ compared by type.
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.
Related Guides
- Credit cards in NZ: all card guides and reviews
- Kiwibank Zero Visa review
- How credit cards work in NZ: what happens if you don’t pay in full
- NZ credit report guide: how card use affects your credit history
- How to avoid credit card debt