Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ANZ Launches Credit Card That Rewards Repayments

ANZ Launches New Zealand’s First Credit Card That Rewards Repayments

ANZ today announced the launch of the ANZ Everyday Rewards Visa – New Zealand’s first credit card to reward customers for paying money back.

One of the first cards worldwide to do so, the ANZ Everyday Rewards Visa offers a new alternative to traditional credit card reward schemes. Instead of receiving reward points for retail purchases, customers receive points when they
pay back money spent on the card. Rewards are earned for repayments made on outstanding balances, which includes purchases, cash advances*, interest charges and even fees.

The Reward Points – one for every dollar repaid – can then be redeemed for merchandise, shopping vouchers, or charity donations.

Managing Director of ANZ Retail Banking Wayne Besant says the new card is designed to meet changing customer needs: “Our research shows customers want to be rewarded for repaying debt, but don’t want to miss out on the lower interest rates offered by cards which don’t have reward schemes.”

“Our new ANZ Everyday Rewards Visa offers the best of both worlds – a competitive interest rate, combined with a rewards scheme that also encourages people to pay off their credit card balance.”

Besant says that credit cards are a convenient method of payment, but must be used wisely. “Over 50% of our cardholders repay their balance in full each month. Used well, a credit card can be an advantage in managing your money.”

The ANZ Everyday Rewards Visa is the first credit card of its kind in New Zealand, and follows ANZ Australia’s successful launch of a similar card in Australia last year. Customers switching from another bank’s credit card will pay a special low interest rate of 8.75%p.a. on their existing balance for the first six months, before moving to a competitive 19.95%p.a. interest
rate on purchases, and 22.20%p.a. on cash advances**.

“The ANZ Everyday Rewards Visa encourages customers to repay their credit cards regularly and earn rewards. It’s an innovative way to deliver what customers want,” says Besant.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>