Rewards Credit Cards

Updated 14 August 2019

With a rewards card, you can earn points on your card spending, to then redeem those points within your rewards programme. In New Zealand, there are some great rewards programmes to choose from, with each of the big banks offering its own take. From basic, no frills cards to platinum options with all the extras, there are rewards cards to suit all cardholders.

Different reward programmes on offer

True Rewards

A flexible programme offered by ASB, True Rewards provides an awesome range of redemption options. Cardholders can redeem points instantly at partner stores such as Farmers and BP, or plan their next adventure, using their points to cover their travel arrangements at House of Travel. Other redemption options include swapping points for merchandise or gift cards in the True Rewards online store, contributing to a KiwiSaver account, or donating to partner charities.

Fly Buys

Offered on BNZ cards, Fly Buys is a popular choice for those who want flexibility in how they earn points and where they redeem them. Cardholders can redeem points on all eligible card spending, while picking up additional points at Fly Buys partners, on everything from petrol to travel. In terms of points redemption, there are heaps of homewares, electronics, gift cards and more on the Fly Buys store, or alternatively, cardholders can book travel through helloworld Travel.

American Express Membership Rewards

American Express Membership Rewards is an incredibly popular option, offering some amazing rewards to members. In terms of travel, members can book travel through American Express Travel, or convert their points to partner programmes, such as Air New Zealand’s Airpoints, Cathay Pacific’s Asia Miles and Emirates’ Skywards. Points can also be used to cover purchases made on the card, to shop with at partner stores, or to redeem for gift cards.

hotpoints

Brought to you by Westpac, the hotpoints rewards programme is another versatile option, allowing cardholders to redeem points for merchandise and gift cards, or to book travel through Flight Centre. Other redemption options include making a donation to charity, contributing to a KiwiSaver account, and more.

Cashback Rewards

Aside from offering Airpoints-earning credit cards, ANZ also provides a number of cashback rewards cards. Offering an alternative option for cardholders who don’t want to be tied into a traditional rewards programme, cashback programmes simply offer cashback on eligible card spending. This cashback can be spent in any way the cardholder pleases, but there may be limits placed on the amount of cashback earned per year.

Other Rewards

Putting aside frequent flyer cards (you can find out more about them on our Frequent Flyer Credit Cards page), there are a few other credit card rewards options on offer in New Zealand. For example, The Warehouse offers a couple of rewards cards, which both focus on retail spending. These offer cashback within The Warehouse, and the opportunity to earn Purple Dollars, which can be spent at participating retailers.

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1 review
More info
points earned over 12 months
0.013 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$150
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 10 Sep 19

More info
points earned over 12 months
2 points
16.77% Complete (success)
hotpoints
N/A
-1% Complete (success)
hotpoints
$119
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 10 Sep 19

More info
points earned over 12 months
3 points
16.77% Complete (success)
hotpoints
N/A
-1% Complete (success)
hotpoints
$390
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 10 Sep 19

More info
points earned over 12 months
0.013 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$145
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 10 Sep 19

More info
points earned over 12 months
1.25 points
16.77% Complete (success)
hotpoints
N/A
-1% Complete (success)
hotpoints
$100
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.013 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$150
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.008 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$0
first year
16.77% Complete (success)
then $65 p.a.
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.013 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$0
first year
16.77% Complete (success)
then $150 p.a.
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
N/A
16.77% Complete (success)
N/A
-1% Complete (success)
$0
first year
16.77% Complete (success)
then $125 p.a.
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.008 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$65
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.006 points
16.77% Complete (success)
airpoints
N/A
-1% Complete (success)
airpoints
$25
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.006 points
16.77% Complete (success)
True Rewards
N/A
-1% Complete (success)
True Rewards
$40
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.01 points
16.77% Complete (success)
True Rewards
N/A
-1% Complete (success)
True Rewards
$80
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.01 points
16.77% Complete (success)
True Rewards
N/A
-1% Complete (success)
True Rewards
$70
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 30 Sep 19

More info
points earned over 12 months
0.025 points
16.77% Complete (success)
flybuy
500
points
16.77% Complete (success)
flybuy
$40
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review

Apply by 30 Sep 19

More info
points earned over 12 months
0.066 points
16.77% Complete (success)
flybuy
1,000
points
16.77% Complete (success)
flybuy
$90
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
N/A
16.77% Complete (success)
N/A
-1% Complete (success)
$0
first year
16.77% Complete (success)
then $65 p.a.
Your points
$120,000 saved over 12 months
Calculate your savings icon

1 review
More info
points earned over 12 months
0.01 points
16.77% Complete (success)
Flight Centre Rewards
N/A
-1% Complete (success)
Flight Centre Rewards
$50
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

Earning Points

When using a rewards card, your spending will attract a certain earn rate, which is the number of points you will earn for each dollar spent. You will usually find cards with higher annual fees, such as platinum cards, offer a higher earn rate. While this can allow for a faster accumulation of points, you will have to spend more to make that higher annual fee worthwhile.

Depending on the card, you may be able to earn bonus or additional points to boost your points total. This may mean spending at partner retailers, or redeeming points through special deals.

Redeeming Points

As you can see from the run-down on rewards programmes above, redemption options are usually pretty flexible. You may be able to redeem points directly with partners, or shop at the rewards programme’s online store. Travel is often included as an option, allowing cardholders to use their points to book travel arrangements with partner travel agents, or convert points to partner frequent flyer programmes.

It’s a good idea to compare all redemption options side-by-side, as not all will offer the same value. For example, you may enjoy more value converting your points to frequent flyer miles, which can then be used to cover flights and upgrades.

Tips For Choosing A Rewards Card

Consider the Annual Fee

To find true value from a rewards card, you need to earn more in rewards than you pay out in annual fees. Calculate your expected annual spend, work out what that equates to in points value, then weigh that against the annual fee.

Forget Interest

If you carry a balance, you will pay interest. That will likely negate the value of any rewards you get back. If you typically carry a balance, a low rate card may be a better option.

Check the Earn Rate

A higher earn rate will allow you to stack up points faster. However, a higher earn rate usually comes with a higher annual fee. Unless you spend enough to make that annual fee worthwhile, a card with a lower annual fee and earn rate may offer more value.

Check For Points Caps

Some rewards cards cap the number of points you can earn each month, or per year. After calculating your expected spend, you think you will spend over this points cap, you may be better opting for a card that either has a higher points cap, or no points cap at all.

Investigate Intro Offers

Rewards cards can provide all kinds of enticing introductory offers, including waived annual fees, 0% purchase offers, bonus points offers, and balance transfer deals. Think about what matters most on the card to you, then consider whether the intro offer adds to that or detracts from that. Remember, bonus points offers usually require a minimum spend.

Examine Rewards Options

Take a closer look at what each of the rewards programmes offers, paying close attention to partners, points value, and the opportunity to earn bonus points. Make sure the programme suits your needs, giving you rewards you actually want to use.

Time to compare rewards cards? This is the place to be! Check out the wide range of rewards cards here on CreditCard.co.nz to apply today.

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