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TSB Visa Classic Credit Card
TSB Visa Classic Credit Card

TSB Credit Cards

TSB Visa Classic Credit Card

Updated 23 September 2020

0% for 6 months on balance transfers. Reverts to 18.50% p.a. Annual fee of $30 ($15 charged every six months).

Purchase Rate (p.a)

18.50%

Balance Transfer (p.a)

0% for 6 months No BT fee. reverts to 18.50% p.a.

Annual Fee (p.a)

$30

$0 over 6 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% interest for 6 months on balances transferred from other credit cards
  • Up to 55 days interest-free credit on purchases
  • Low account fee $15 per six months

  • 18.50% interest rate on purchases and cash advances

Creditcard.co.nz review

Editor Review

TSB Visa Classic Credit Card

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

The TSB Visa Classic Credit Card

As the name suggests, the TSB Visa Classic Credit Card is a classic card, offering basic features in return for a modest annual account fee. Cardholders can enjoy access to credit throughout the extensive Visa network, as well as Visa features such as Visa payWave, and up to 55 days interest free on purchases.

What we love...

One of the first things you may notice about the TSB Visa Classic Credit Card is its low annual account fee. While paying no annual fee is certainly nice, paying a low annual fee is acceptable if you like the card in question. With this card, you can keep ongoing costs down with a low account fee, payable every six months.

And if you want to add family members to the account? Joint and additional cardholders are charged a nominal account fee, again paid every six months. This can work well for cardholders who want to provide family members with access to credit, while keeping a close eye on their spending. With just one card account to keep track of, this can make family accounting much easier to deal with.

If you need to transfer balances from other credit cards, you can get 0% for 6 months on the balance transferred. After the 6 month period ends the rate reverts to 18.50%.

In terms of interest, it’s worth noting that the TSB Visa Classic Credit Card is not a low rate card. While its purchase rate is not as high as some cards in the market – typically rewards cards and prestige cards hold this honour – it’s not as low as many low rate cards. This makes it important not to carry a balance if you want to keep costs at a minimum.

However, for cardholders who pay off their balance each month, the card does offer some incentive, with up to 55 days interest free on purchases. This offers some breathing room when spending day to day, allowing you to buy the things you want now, to pay them all off before interest starts accruing.

And while features on this card are minimal, there is one nice extra to note. Having worked closely with the Blind Foundation, TSB have added braille to the TSB Visa Classic Credit Card, making it easier for vision impaired cardholders to identify the card in their wallet, as well as its orientation when using it.

What’s not so great...

Having already discussed the purchase rate on this card, there is not much to complain about. As long as you understand what this card has to offer – basic features for a low account fee – it could work well for the right cardholder. Obviously, cardholders who want more in the way of features, such as the opportunity to earn rewards, will need to look elsewhere.

It is worth bearing in mind though, that to apply for a TSB Visa Classic Credit Card, you need to have a TSB account in your name. While this is easily set up – and free, if you choose the right account – it may be annoying for some cardholders who simply want the credit card and not the account.

Why should you choose this card?

There’s no hiding it, the TSB Visa Classic Credit Card is a basic card with absolutely no frills. So, why would you want this card in your wallet? A card such as this can benefit many types of cardholder, as long as they want a simple card that works to keep costs down. With its low account fee, it could appeal to money savers – as long as they pay off their balance before it starts accruing interest. It may also appeal to cardholders who simply don’t need an excess of features, who just want access to credit in an easy, low cost package.

Overall Rating

The TSB Visa Classic Credit Card offers an average purchase rate and a modest annual account fee, with up to 55 days interest free on purchases, and an uncomplicated manner.

User reviews

TSB Visa Classic Credit Card ( based on 1 Creditcard.co.nz user review )

56% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 18.50% p.a.

Cash advance rate 18.50% p.a.

Interest free on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 6 months

Balance transfer revert rate 18.50% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee.

Balance transfer limit N/A

Banks you can't balance transfer from TSB

Credit limits

Minimum credit limt N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $30 p.a.

Additional card holder fee N/A

Foreign transaction fee N/A

Minimum repayment

Cash advance fee N/A

Late payment fee N/A

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Overview

TSB Visa Classic Credit Card

Key features

  • 0% interest for 6 months on balances transferred from other credit cards
  • Up to 55 days interest-free credit on purchases
  • 18.50% interest rate on purchases and cash advances
  • Low account fee $15 per six months

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent Resident or New Zealand Citizen

  • Minimum income of $18000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

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