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

 


Vertical take-off for ASB Visa Light

Vertical take-off for ASB Visa Light

Change with the times

ASB has issued a vertical challenge to the credit card market with its new market-leading, low rate credit card ASB Visa Light.

With no account fee, ASB’s lowest ongoing purchase rate (currently 13.50%) and a new Smart Rate purchase feature, ASB Visa Light will be a competitive card in the low-rate credit card market.

ASB Visa Light sports a vertical orientation, reflecting the way customers use their cards today for insert and contactless transactions.

The traditional, embossed credit card number strip has been replaced with a bold font type, which is easier to read when you grab your card to enter payment details for online shopping.

ASB head of cards Glen Martin says ASB Visa Light introduces innovation in the fastest growing segment of the credit card market.

“The world’s changed, so we’ve adapted our newest card for our customers – it provides flexibility and savings for everyday use and big ticket purchases,” Mr Martin says.

ASB Visa Light offers three key features in one card:

• No account fee

• ASB’s lowest ongoing purchase interest rate, currently 13.50% p.a.

• The new ‘Smart Rate’ purchase feature combines a special fixed interest rate for a set period of time, automatically applied when you spend a certain purchase amount. The Smart Rate offer is currently 0% p.a fixed for six months for purchases of $1,000 or more.

Mr Martin says with ASB’s lowest everyday purchase rate, ASB Visa Light will rival store cards for its convenience and savings.

“It’s the combination of the three features that sets ASB Visa Light apart from other low-rate cards,” Mr Martin says.

“Customers have told us they want a card with no account fee and a low interest rate on purchases. ASB Visa Light offers both – it’s the best of both worlds.”

In the competitive credit card market, Mr Martin says education is needed to ensure people have the right credit card for their needs and financial circumstances.

“Many rewards card customers don’t pay off their balances each month, so they are paying more in interest than the value of the rewards they are earning, which means it’s not actually the right card for them.

“ASB Visa Light is the card for everyday use if you don’t want rewards and are not paying off your credit card each month,” Mr Martin says.

ASB Visa Light customers will also enjoy the control and flexibility of ASB’s Card Control feature, enabling them to place a temporary lock on a lost or misplaced card, and limit certain transaction types such as contactless payments or in-store international transactions. ASB Card Control is controlled through the ASB Mobile app.

“We believe ASB Visa Light is giving our customers a market-leading low rate credit card option,” Mr Martin says.

“It’s innovative and a game changer.”

**ASB Visa Light launched on November 1. Existing ASB Visa Low Rate customers will have the benefits applied to their card automatically. Although Smart Rate is a permanent feature of ASB Visa Light, the fixed interest rate, period of time and purchase amount can be updated at any time.

For more information about ASB Visa Light and the new Smart Rate, visit asb.co.nz/light


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news