ASB Visa Light Credit Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.co.nz. Ask Roland a Question about this card.

The ASB Visa Light Card

Designed to help cardholders keep costs down, the ASB Visa Light Card has ASB’s lowest ongoing purchase rate and charges no account fee. Other money-saving features on offer include the Smart Rate purchase feature, providing 0% p.a. for six months on purchases over $1,000, plus 0% p.a. on balance transfers for six months.

What we love...

Above all, the ASB Visa Light Card is designed as a money-saver. One of the most important ways it does this is with its low purchases rate. With ASB’s lowest ongoing purchase rate, it can help cardholders keep their interest costs low, even when they carry a balance. That means they can focus on paying off what they owe, instead of accruing large amounts of interest.

Another important money-saving feature on this card is its lack of annual fee or account fee. Where other cards may charge hundreds of dollars each year in account fees, the ASB Visa Light charges zip. While it is worth pointing out that cards with higher annual fees tend to offer more features, if you don’t need those features – or you simply want to save money – then there’s no point paying more for that type of card.

Beyond its low purchase rate and no annual fee, the card offers further ways to save with its Smart Rate feature and balance transfer offer. First, that Smart Rate. With the bank’s current Smart Rate, you will pay 0% p.a. on purchases over $1,000 for six months, giving you time to pay off larger purchases without paying any interest.

How does Smart Rate work? Any purchase over $1,000 you make on the card automatically has the Smart Rate applied. You then have six months to pay it off before interest starts accruing at the card’s standard purchase rate. You can track your Smart Rate purchases on your credit card statement.

As for the balance transfer offer, this allows you to transfer a balance from an existing credit card or store card to benefit from a balance transfer rate of 0% p.a. for six months. This gives you the opportunity to pay down your credit card debt while paying no interest, potentially clearing what you owe much faster.

However, with both the balance transfer and Smart Rate, there is one important factor to keep in mind. When you make a payment to your card, it will go towards paying off the debt with the highest interest first. So, if you make new purchases on your card, you need to make sure you pay off your entire new balance plus what’s needed to clear your balance transfer or Smart Rate balance.

What’s not so great...

As long as you understand how this card works, there’s not too much to complain about. First up, it’s a low cost card, so don’t expect any fancy features or rewards. Secondly, understand how payments are allocated to make sure you clear your balance transfer and Smart Rate purchases before they start to accrue interest. Lastly, avoid cash advances because the rate is very high.

Why should you choose this card?

If you’re looking for a simple card that can help you keep costs down, the ASB Visa Light Card could be a great addition to your wallet. If you plan on making a few large purchases, its Smart Rate feature could offer you interest free spending that’s super simple to use. Even if you only want to keep a card for emergencies, this card could be a good choice as it charges no account fee.

On top of the basic security features found on all credit cards, the card offers some nice tech compatibility for convenient payments on the go. Not only is this card compatible with Apple Pay, Google Pay, Fitbit Pay and Garmin Pay, it also offers ASB Virtual, which allows you to tap and pay with your Android, as well as an ASB PayTag sticker that turns almost anything into a mobile payment device.

Overall Rating

The ASB Visa Light Card works to help cardholders save money with a low ongoing purchase rate and no account fee, plus 0% p.a. on balance transfers and purchases over $1,000 for six months.