Transfer Credit Card Balance NZ

Transfer Credit Card Balance NZ

Card Description Purchase Rate (p.a.) Balance Transfer Cash Rate (p.a.) Annual Fee Interest Free Days
Co-operative Bank Fair Rate Credit Card The Fair Rate Credit Card from the Co-operative bank HAS THE LOWEST BANK RATE IN NZ and a low annual fee of just $20. This is a great card if you are looking for a credit card with a low interest rate. 12.95% 4.95% p.a. for 12 months 12.95% and $2 transaction fee $20.00 55 days
BNZ Low Rate MasterCard Credit Card A Low interest rate of just 13.45% credit card with a great balance transfer offer of 0% for 12 months 13.45% 0% p.a. for 12 months 22.95% $60.00 55 days
ASB Visa Light Credit Card The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months 13.50% 0% for 6 months 22.95% $0.00 55 days
BNZ Advantage Visa Platinum Credit Card Spend $15 on eligible purchases and get 1 Fly Buys point or spend $75 on eligible purchase and get $1 cash reward. 18.95% 0% p.a. for 12 months 18.95% $150.00 55 days
ASB Visa Platinum Rewards Credit Card Get one True Rewards Dollar for every $100 you spend plus travel insurance for you, your spouse and your dependent children 19.95% 0% for 6 months 22.95% $80.00 55 days
ASB Visa Business Rewards Credit Card Earn one True Reward Dollar for every $100 you spend in purchases on your card. One True Rewards Dollar equals one New Zealand dollar. 19.95% 0% for 6 months 22.95% $70.00 55 days
BNZ Advantage Classic Visa Credit Card Get 1 Fly Buys point for every $40 of eligible spend or $1 Cash Reward for every $150 of eligible spend plus a great balance transfer offer of 0% for 12 months 20.95% 0% p.a. for 12 months 22.95% $40.00 55 days
ASB Visa Rewards Credit Card Get one True Rewards Dollar for every $150 you spend on your ASB Visa Rewards. One True Rewards Dollar equals one New Zealand dollar 20.95% 0% for 6 months 22.95% $40.00 55 days
Kiwibank Low Rate MasterCard Credit Card A great low interest low balance transfer credit card that might suit people with significant credit card debt 13.45% 1.99% p.a. for 6 months 22.95% $50.00 55 days
ANZ Low Rate Visa Card Features a low interest rate of 13.90% and a balance transfer rate of 1.99% for 12 months 13.90% 1.99% p.a. for 12 months 22.95% $35.00 55 days
Kiwibank MasterCard Zero Credit Card A great everyday card with no annual fee and relatively low purchase rate 16.90% 1.99% p.a. for 6 months 22.95% $0.00 55 days
Kiwibank MasterCard Gold Credit Card Kiwibank MasterCard Gold comes with complimentary travel insurance for you and any immediate family travelling with you 17.90% 1.99% p.a. for 6 months 22.95% $80.00 55 days
Air New Zealand Airpoints Platinum MasterCard Earn 1 Airpoints Dollar™ for every: $75 spent on eligible purchases, or $65 spent on Air New Zealand products bought direct 20.95% 1.99% p.a. for the first 6 months on any transferred balanc… 22.95% $150.00 44 days
Westpac Low Rate MasterCard Credit Card Comes with a low rate of just 13.45% plus a balance transfer offer of 5.95% for the life of the balance transferred 13.45% 5.95% for the life of the balance transferred 22.95% $65.00 55 days
Westpac hotpoints World MasterCard Credit Card Earn 3 hotpoints per $1 dollar spent plus free airport lounge access, free travel insurance, purchase protection, extended warranty and more 16.95% 5.95% for the life of the balance transferred 22.95% $390.00 55 days
Westpac Airpoints World MasterCard Credit Card This card is a touch of everything including Airpoints, a relatively low interest rate of 16.95% and a balance transfer offer of 5.95% 16.95% 5.95% for the life of the balance transferred 22.95% $390.00 55 days
Westpac hotpoints MasterCard Credit Card Earn 1 hotpoint for every $1 spent on the card plus a balance transfer offer of 5.95% for the life of the balance transferred 20.95% 5.95% for the life of the balance transferred 22.95% $44.00 55 days
Westpac hotpoints Platinum MasterCard Credit Card Earn 2 hotpoints® for every $1 spent on the card plus a balance transfer offer of 5.95% for the life of the balance transferred 20.95% 5.95% for the life of the balance transferred 22.95% $125.00 55 days
Westpac Airpoints MasterCard Credit Card Earn one Airpoints Dollar for every NZD$120 spent on the card plus 5.95% for the life of the balance transferred 20.95% 5.95% for the life of the balance transferred 22.95% $55.00 55 days
Westpac Airpoints Platinum MasterCard Credit Card Earn 1 Airpoints Dollar for every $75 spent on the card plus get 5.95% for the life of the balance transferred 20.95% 5.95% for the life of the balance transferred 22.95% $145.00 44 days

Balance Transfer Credit Cards

If you’re struggling to pay down your credit card debt, transferring your balance for an incentive may be a viable option

One way that credit card companies try to earn your business is by offering a promotional interest rate for balance transfers. The idea is to allow a person to transfer the balance of one credit card to another with a lower rate of interest for a set amount of time. There are both good and bad things about this type of promotion for the consumer. The following is a comprehensive guide to help you understand exactly what a balance transfer is, how it can benefit you by reducing your credit card interest repayments, and how to compare the available balance transfer credit cards to find the best offer for you. Take note that all balance transfer offers require good credit for application approval.

What Is A Balance Transfer Credit Card

Balance transfer credit cards are cards that are offered to consumers with the specific purpose of allowing the balance of another credit card to be transferred directly to the new card. The new balance transfer card will offer the consumer a lower interest rate on any balance that has been transferred to the card. This can be beneficial as it will allow the consumer to pay a lower interest rate, which can mean a lower cost for the remaining balance of the card. This can also provide a temporary relief for someone that is currently only able to make minimum payments on their credit card.

Why Choose A Balance Transfer Credit Card?

There are three really great reasons to choose a balance transfer credit card. When considering this type of credit card it is important to research the different offers that are currently available and choose one that will best meet your needs.

  • Choose a balance transfer credit card if you currently have a credit card with an extremely high interest rate. Lowering the interest rate for the remaining balance can help you pay off the card at a much faster rate.
  • A balance transfer credit card can be used for cards that currently have a fairly high balance. Being able to pay a lower interest rate on a high balance can save money over time.
  • If there is a balance transfer credit card available to you and you currently have a couple of cards with balances, transferring the balance over to the new card can make paying the bill easier as it will be rolled into one.

Reasons To Not Choose A Balance Transfer Credit Card

There are three reasons that a balance transfer credit card should not be chosen.

  • If the current interest rate on your credit card is fairly low, do not choose a balance transfer credit card.
  • If you currently have a very low balance on your credit card it would be more beneficial to pay it off than it would be to transfer it to another card.
  • Do not choose a balance transfer card if it has an annual fee and your current card does not. This fee will eat up what you will save on the interest rates.

Overview of Balance Transfer Credit Cards

Balance transfer credit cards can be extremely useful. Remember, these credit card companies are trying to earn your business so they are willing to offer you a great rate for a set amount of time, typically six months. If you can transfer your balance and pay off the debt in that amount of time these cards are definitely worth looking into.

Transferring your balance from one card to another

If you have a lost, stolen or damaged registered AT HOP card you can transfer the balance of that AT HOP card to another card registered to the same account.

  • You can only request a balance transfer from a cancelled card to an active card registered to the same account.
  • A balance transfer cannot be completed between primary and linked accounts or between active cards.

Cancelling your card first

Transferring the card balance can only happen if the AT HOP card has been cancelled.

What is transferred from one card to another

Once your card balance transfer request has been processed (this is done manually so can take a few working days) when you next tag on:

  • Your card balance will be updated.
  • Any concessions will be transferred.
  • Any auto top ups will be updated to the new card.
  • Any monthly passes (activated or non-activated) will be transferred – be careful not to load a monthly pass onto your new card until the balance has been transferred from your lost or stolen card. This will cause the balance transfer to fail and result in the balance of the previous monthly pass to be lost.
  • Any day passes that have not yet been activated will be transferred.

Once processed your online account will be updated after the next time you tag on.

Faulty AT HOP card

If your AT HOP card is registered, they provide you with a free card. You can then, register it to your account and complete a balance transfer for any remaining HOP money or product. If your card is not registered and is deemed faulty, please contact them to determine the best way to complete the replacement as it has to be done in person.

How to transfer the balance from one card to another online

  1. Log in to your MyAT account.
  2. Click “MyAT HOP cards” and select the cancelled card you wish to transfer funds from. If the card is still active, cancel the card first.
  3. Click on the “Transfer balance”.
  4. Select the receiving card or register a new card.
  5. Click “Request Transfer” to review the request details.
  6. Enter the new card number.
  7. Click “Confirm”.

Once your card balance transfer request has been submitted, it will be processed within a few working days. Once processed your online account will be updated after the next time you tag on. Tag on within 60 days, otherwise the top up expires and the payment will be reversed to the credit card or debit card you have used to top up. If this happens, we will send you an email to let you know we’ve done the reversal.

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