The Kiwibank Zero Visa is unique in the NZ credit card market with zero annual fee AND zero foreign transaction fees. Here’s why it’s the best no-fee card in New Zealand.
The Kiwibank Zero Visa is the best no-fee credit card in NZ, and one of the best travel cards too. Zero annual fee + zero foreign transaction fees make it unique in the NZ market. The only catch: 12.90% p.a. interest if you carry a balance. Pay in full every month and this card costs you nothing while saving you 2–3% on every overseas purchase.
Kiwibank Zero Visa — Key Facts
Here are the key facts on the Kiwibank Zero Visa interest rates & fees.
| Feature | Detail | | Account Fee (every six months)| No fee | | Join/additional cardholder account fee (every six months) | No fee | | Interest rate on purchases and cash advances | 12.90% p.a. | | Interest free days | Up to 55 | | Balance transferred from a non-Kiwibank credit card | 1.99% p.a. for 6 months | | Minimum credit limit | $500 | | Late payment fee | $5 per late payment |
What Makes It Different
When you use your credit card for a transaction that is processed overseas there is a 1.85% fee of the total amount. It is important to realize that transactions may still be proceed overseas even if the website address ends in ‘.co.nz’ and charges you in the New Zealand Dollars (NZD)
What this can cost you:
| Overseas spend | 1.85% |
|---|---|
| $1,000 holiday | $18.50 |
| $3,000 holiday | $55.50 |
| $5,000 holiday | $92.50 |
| $10,000 business trip | $185.00 |
It is important to know where your transaction is being processed to ensure that you avoid costly overseas fees.
The High Interest Rate Warning
At 12.90% p.a., the Kiwibank Zero Visa has quite a high interest rates among NZ credit cards.
This card is only suitable if you pay the full balance every month. If you carry a balance even once, the interest charge likely exceeds any savings from the zero foreign fee.
Who should NOT get this card alone: Anyone who sometimes carries a credit card balance. Pair it with a low-rate no-fee card (BNZ Low Rate Mastercard) for balance-carrying situations, and use the Zero Visa for travel and international purchases.
Ideal Two-Card Setup
Many experienced NZ cardholders carry both:
| Card | Use case |
|---|---|
| Kiwibank Zero Visa | All overseas purchases; online shopping in foreign currencies |
| BNZ Low Rate Mastercard | Domestic spending; backup if you might carry a balance |
Combined annual cost: $0. Combined protection: full coverage for all scenarios.
Zero Visa for Online Shopping
The no-foreign-transaction-fee benefit extends beyond physical travel:
- Shopping on Amazon, ASOS, eBay, or other international sites
- Subscriptions in USD (Netflix US, Adobe, software services)
- Digital purchases from overseas platforms
If you regularly buy from international websites, the Zero Visa saves money every month — not just when travelling.
Kiwibank Zero Visa vs Competitors
| Card | Annual fee | Foreign fee | Interest rate |
|---|---|---|---|
| Kiwibank Zero Visa | $0 | 0% | 12.90% |
| Kiwibank Low Rate Visa | $0 | ~2% | 13.9% |
| BNZ Low Rate Mastercard | $0 | ~2% | 13.45% |
| ANZ Airpoints Visa | $65 | ~2.5% | 20.95% |
| Westpac Low Rate Mastercard | $0 | ~2.25% | 13.9% |
| Revolut (card) | $0 | 0% (limits) | N/A (debit) |
No other NZ bank credit card offers zero foreign transaction fees at zero annual cost.
The Kiwibank Factor
Kiwibank is NZ-owned (owned by NZ Post, ACC, and NZ Super Fund) — for those who prefer to bank with a NZ-owned institution. It offers a full banking suite alongside the Zero Visa, making it easy to manage your card within the same app as your transaction and savings accounts.
Application Requirements
Standard NZ credit card application requirements apply:
- Must be a NZ resident or citizen
- Minimum income (check current Kiwibank requirements)
- Credit check will be performed
- Can apply online via kiwibank.co.nz
Verdict
The Kiwibank Zero Visa is the best no-annual-fee credit card in New Zealand. No other NZ bank offers the combination of zero annual fee and zero foreign transaction fees on a credit card. It’s exceptional for travel, online international shopping, and everyday use for those who pay their balance in full every month. The high interest rate means it’s not appropriate for anyone who might carry a balance — in that case, pair it with the BNZ Low Rate Mastercard.
Rating: Outstanding for the right user — excellent travel/everyday card for full-balance payers.
Next Steps
- Best no annual fee cards NZ — full no-fee card comparison
- Best travel credit cards NZ — Zero Visa ranked alongside travel cards
- How credit card interest works NZ — understand the 25.99% rate risk
- Kiwibank review NZ — is Kiwibank the right bank for you overall?