ASB Business Platinum Mastercard Review
Premium business credit card with comprehensive rewards program and business-focused benefits
Quick Facts
Executive Summary
The ASB Business Platinum Mastercard is a premium business credit card designed for established businesses seeking comprehensive rewards and business-focused benefits. With a $195 annual fee and competitive business rewards program, it's positioned as ASB's flagship business card offering.
Key Features & Benefits
Business Rewards Program
- 1 True Rewards point per $1 spent on eligible purchases
- Bonus categories for office supplies and telecommunications
- Flexible redemption including cash credit, gift cards, and travel
Business Management Tools
- Detailed reporting with category-based transaction summaries
- Additional cardholders at no extra cost for employees
- Spending controls and transaction limits for employee cards
Premium Benefits
- Mastercard Business Benefits including travel and purchase protection
- Extended warranty coverage on business purchases
- Business travel insurance for domestic and international trips
Rewards Program Analysis
ASB True Rewards for Business
The ASB Business Platinum Mastercard earns 1 True Rewards point per $1 spent on eligible purchases, with enhanced earning potential in specific business categories.
Earning Structure
- General purchases 1 point/$1
- Office supplies 1.5 points/$1
- Telecommunications 1.5 points/$1
- Fuel & utilities 1.2 points/$1
Redemption Options
- Account credit $1 = 200 points
- Gift cards Variable rates
- Travel bookings Enhanced value
- Merchandise Catalog pricing
Annual Earning Potential
| Annual Spend | Points Earned | Cash Value | Net Value* |
|---|---|---|---|
| $20,000 | 20,000 | $100 | -$95 |
| $40,000 | 40,000 | $200 | $5 |
| $60,000 | 60,000 | $300 | $105 |
| $100,000 | 100,000 | $500 | $305 |
*After $195 annual fee
Costs & Fees Analysis
Annual Costs
Interest & Transaction Fees
Cost Analysis
The $195 annual fee requires approximately $40,000 in annual spending to break even when earning 1 point per $1 and redeeming at 200 points = $1. Businesses with lower spending should consider fee-free alternatives.
Eligibility & Application Process
Eligibility Requirements
- Business owner, director, or authorized representative
- Minimum annual business income: $
- Established business (typically 12+ months trading)
- Good credit history for business and applicant
- New Zealand resident, 18+ years old
Required Documentation
- Business registration documents
- Recent financial statements or tax returns
- Personal identification (driver's license/passport)
- Bank statements (3-6 months)
- Proof of business address
Application Timeline
Business credit card applications typically take 5-10 business days for processing, with additional time required for document verification. Existing ASB business customers may experience faster processing.
Tip: Having an established relationship with ASB through business banking can streamline the application process and potentially improve approval chances.
Pros & Cons
Advantages
- Comprehensive business rewards program
- Free additional employee cards
- Enhanced earning on business categories
- Strong business management tools
- Mastercard business benefits and protections
- Detailed expense tracking and reporting
Disadvantages
- High $195 annual fee
- Requires $40,000+ spending to break even
- Foreign transaction fees apply (2.5%)
- High minimum income requirement ($75,000)
- Rewards redemption requires minimum thresholds
- Standard purchase interest rate (20.95%)
Who Should Apply?
Ideal Candidates
- High-spending businesses: Those with $40,000+ annual spending who can justify the annual fee through rewards earned
- Office-heavy businesses: Companies with significant spending on office supplies and telecommunications (enhanced earning categories)
- Multi-employee businesses: Those needing multiple company cards with centralized expense tracking and controls
- Existing ASB customers: Businesses already banking with ASB who want integrated financial management
Consider Alternatives If...
- Your business spends less than $30,000 annually on the card
- You frequently make international purchases (consider a no-foreign-fee card)
- Your business is just starting out or has irregular income
- You prioritize low interest rates over rewards (consider a low-rate business card)
Final Verdict
The ASB Business Platinum Mastercard is a solid choice for established businesses with substantial annual spending. The comprehensive rewards program, combined with strong business management features and expense tracking, makes it particularly valuable for companies that spend $40,000 or more annually.
Ready to Apply?
Get your ASB Business Platinum Mastercard today
Apply at ASB →External link - Terms and conditions apply
Quick Comparison
💡 Expert Tip
To maximize value from this card, focus spending on the enhanced earning categories (office supplies and telecommunications) and ensure your annual spending exceeds $40,000 to justify the annual fee.