In the second of a series of articles on bank fees, Matt Skinner looks at credit card fees the major banks charge

In part 1 we looked at business borrowing fees. Now we turn our attention to credit cards, another area where banks still charge fees.

According to the Reserve Bank of New Zealand (RBNZ), credit card spending increased by more than $600 million between January and September to $4.46 billion from $3.8 billion.

And for borrowers paying interest, many of the interest rates remain high. The latest RBNZ figures show a weighted average interest rate of 18.6% on personal interest bearing advances. As of September, total advances outstanding were $5.97 billion.

For detailed comparison information on credit card interest rates see our tables here.

Aside from rates there are yearly and half-yearly fees for using your credit card.

Above is a table covering personal card fees and below is a table on business card fees.

Personal cards 

ANZ

ANZ has no annual card fee on Visa debit cards.

ANZ low rate Visa has no annual fee or additional card fee. 

The ANZ Airpoints Visa card has a $65 annual fee and $5 additional card fee per annum. 

ANZ has an Airpoints Visa platinum card with an annual fee of $150 and $5 additional card fee per annum. 

The ANZ cashback Visa card has an annual fee of $40 and $5 additional card fee per annum. 

ANZ cashback Visa platinum card has an annual fee of $80 and $5 additional card fee per annum.

ASB

ASB’s Visa debit card fee is $5 every six months.

The Visa light card at ASB charges no six month account fee, joint account fee or additional card fee.

ASB’s Visa rewards card has a six month account fee of $20, joint account fee per person every six months of $13 and an additional card fee of $6 per card every six months.

The Visa platinum rewards card is $40 every six months for the account, $27.50 per person every six months and $15 for additional cards.

BNZ

BNZ’s flexi debit Visa card has no annual card fee.

The BNZ lite Visa account fee is $15 every six months. For an additional card it will cost $1.50 every six months. 

The BNZ advantage Visa classic fee is $20 every six months. Additional cards cost $6 every six months.

The BNZ advantage Visa platinum is $45 every six months. It will be $10 half-yearly for an additional card. 

Kiwibank

Kiwibank has an annual fee for Visa debit cards of $10.

Credit cards at Kiwibank have six month account fees, though there is no fee for a zero Visa card.

Airpoints low fee Visa cards have a six month fee of $25 and a joint/additional card fee of $5 every six months.

Airpoints platinum Visa cards have a six month fee of $90 and a joint/additional card fee of $15 every six months.

Westpac

Westpac has a $10 annual fee for debit Mastercard and a $15 annual fee for Airpoints debit Mastercard. Additional cards are free.

For credit cards, the fee free Mastercard is, as you would expect, free. Then the Airpoints Mastercard charges a $70 annual account fee and a $15 joint/additional card fee per year. 

The Airpoints platinum Mastercard comes with an annual fee of $125 and a joint/additional card fee of $25 per year.

Airpoints world Mastercard has an annual fee of $310 with a $100 joint/additional card fee per year.

Hotpoints Mastercard has an annual account fee of $40 and a joint/additional card fee of $15 per year.

Hotpoints platinum Mastercard has an annual fee of $70 and a $25 joint/additional card fee per year.

Hotpoints world Mastercard has an annual fee of $285 with no charge for the first additional card.

Business cards

ANZ

The ANZ Visa business Airpoints card has an annual fee of $145 with a joint/additional card fee of $5 p.a.

ANZ's Visa business cashback card has an annual fee of $95 with a joint/additional card fee of $5 p.a.

An ANZ Visa business low rate card has an annual fee of $35 with a joint/additional card fee of $5 p.a.

ANZ's Visa corporate card has an annual fee of $35 with a joint/additional card fee of $5 p.a.

The ANZ Visa purchasing card has an annual fee of $35 with a joint/additional card fee of $5 p.a.

An ANZ lodged purchasing card facility has an annual fee of $35 with a joint/additional card fee of $5 p.a.

ASB

ASB’s fast cash card has no card fee.

Visa business card has a $15 account fee per card every six months. 

The Visa business rewards card has an account fee for up to three joint cardholders of $35 every six months and an additional card fee per card of $10 every six months.

Visa debit for business card has a $5 card fee every six months.

BNZ

A business first lite Visa card costs $5.00 per card per month.

An advantage Visa business card costs $50.00 half yearly, with $10 half yearly per additional cardholder. There is a rebate offer on the card where if your spend is less than $24,000 the half-yearly account and any additional card fees are not rebated. If your spend is over $24,000, 100% of the half-yearly account and additional card fees will be rebated.

A flexi debit for business card has no annual fee.

The business purchasing card is $2.00 per card per month.

Kiwibank

Kiwibank’s business edge card has an account management fee of $5 per month.

The business low rate Visa costs $6.25 per card every quarter.

Westpac

Airpoints business Mastercard has an annual account fee of $145 per year with a joint/additional card fee of $25 per year.

BusinessPLUS Mastercard with hotpoints has an annual account fee of $100 per year. A joint/additional card costs $25 per year.

*You can see part 3 in our bank fees series here.

*You can see part 4 in our bank fees series here.