ASB Visa Flex Review
New Zealand's Lowest Rate Credit Card
💡 Expert Summary
ASB Visa Flex is New Zealand's lowest interest rate credit card at 9.95% p.a. With no annual fee and no foreign currency fees, it's the clear winner for anyone who occasionally carries a balance or travels internationally. Our analysis shows it can save users up to $301 annually compared to average-rate cards.
Key Features & Benefits
What Makes ASB Visa Flex Special
- Market-leading 9.95% interest rate - Significantly lower than the NZ average of 19.95%
- Zero annual fee - No ongoing costs for card ownership
- No foreign currency fees - Perfect for international purchases and travel
- 55 interest-free days - Generous grace period for new purchases
Real-World Cost Analysis
Understanding the true cost of credit cards requires looking beyond interest rates to total annual costs based on your spending patterns.
Cost Comparison Example
Based on $2,000 monthly spending with $3,000 average balance
| Card | Interest Rate | Annual Fee | Total Annual Cost | vs ASB Flex |
|---|---|---|---|---|
| ASB Visa Flex | 9.95% | $0 | $297 | - |
| BNZ Lite Visa | 12.90% | $30 | $417 | +$120 |
| Average NZ Card | 19.95% | $75 | $673 | +$376 |
Annual Savings: ASB Visa Flex saves up to $376 per year compared to average credit cards.
Eligibility Requirements
Minimum Requirements
- • Minimum annual income: $35,000
- • Age: 18+ years old
- • NZ resident or citizen
- • Valid NZ address
- • Clean credit history
Credit Limits
- • Minimum: $1,000
- • Maximum: $50,000
- • Based on income assessment
- • Can be increased after 6 months
- • Subject to responsible lending
Pros and Cons
✓ Pros
- • New Zealand's lowest interest rate (9.95%)
- • No annual fee saves $75+ yearly
- • No foreign currency fees (saves 2.5% on overseas spending)
- • 55 interest-free days on purchases
- • No balance transfer fee
- • Contactless payments included
- • Mobile banking integration
✗ Cons
- • No rewards or cashback program
- • No complimentary insurance benefits
- • Higher income requirements ($35k minimum)
- • Limited premium features
- • No airport lounge access
- • Basic customer service hours
Who Should Get ASB Visa Flex?
Perfect For:
- • Balance carriers - Those who sometimes carry a balance month-to-month
- • International travelers - Saves 2.5% on all foreign purchases
- • Cost-conscious users - Want lowest possible fees and rates
- • First-time users - Simple, straightforward credit card without complexity
- • Debt consolidators - Transfer high-interest balances to save money
Not Ideal For:
- • Rewards seekers - No cashback or points program
- • Premium travelers - No lounge access or travel insurance
- • High spenders - Missing out on potential rewards earnings
- • Status seekers - Basic card without premium features
Application Process
Step-by-Step Application
- 1Online Application - Takes 10-15 minutes on ASB website
Have income details and ID ready - 2Credit Check - ASB reviews your credit history
Usually completed within 24 hours - 3Approval Decision - Receive confirmation by email/SMS
Conditional approval often within hours - 4Card Delivery - Physical card posted to your address
Allow 5-7 business days for delivery - 5Activation - Call ASB or activate online
Immediate access once activated
Expert Verdict
ASB Visa Flex earns our highest recommendation as the best low-rate credit card in New Zealand. With the market's lowest interest rate and no annual fee, it's mathematically the cheapest option for most users.