Personal Finance
ASB hikes credit card cash advances interest rate by 2.0%; now more in line with rivals
1st May 14, 11:18am
by
ASB has today raised its cash advance interest rate on all its credit cards.
Their new rate is 21.95%, up a massive 2.00% from 19.95%.
These increases appeared on their website this morning.
So far, they have not changed the purchase interest rates for credit cards, only the cash advance rate.
This increase brings them more into line with their main rivals, as the following table shows:
| Visa or Mastercard | ------------ Credit card cash advance rate ----------- | |
| Standard | Low rate | |
| % | % | |
 |
22.45 | 20.45 |
 |
21.95 | 21.95 |
| BNZ | 22.20 | 22.20 |
| Kiwibank | 21.90 | 12.90 |
| Westpac | 22.45 | 22.45 |
| TSB | 18.50 | 18.50 |
| GEM Visa | 24.95 | 24.95 |
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