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

 

RNZ: Porirua Most Expensive Region To Rent, According To Trade Me

A rental website shows this town is now New Zealand's most expensive region to rent a house, ahead of Wellington and Auckland cities. More>>

ALSO:


Stats NZ: Nearly 1,000 More Big Businesses Now Than Two Decades Ago – Media Release

There are now 2,690 big businesses in New Zealand employing more than 100 staff – nearly 1,000 or 58 percent more than 20 years ago, Stats NZ said today. Over the 20 years to February 2020, the total number of enterprises in New Zealand increased ... More>>

ALSO:

RNZ: Housing Boom Could Get Worse, Economist Warns

Economists are calling on the Reserve Bank to reinstate lending restrictions, warning the housing market is spiralling out of control. More>>

ALSO:

Westpac: Sets Out Plan To Go Cheque-Free

Westpac NZ has announced details of its plan to phase out cheques, after signalling in May that it would be supporting a move to other forms of payment. Cheques will cease to be available as a means of payment after 25 June 2021. Westpac NZ General ... More>>

ALSO:

NZTA: Major New Zealand Upgrade Programme Projects Go To Tender

Two major New Zealand Upgrade Programme projects are beginning tenders for construction. The New Zealand Upgrade Programme is a $6.8 billion investment to get our cities moving, to save lives and boost productivity in growth areas. The first Auckland ... More>>

Reserve Bank: RBNZ Seeks To Preserve Benefits Of Cash

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More>>

ALSO:


CERT NZ: Malicious Computer Virus Targeting New Zealanders

CERT NZ, the government agency which supports organisations and individuals affected by cyber security incidents, says a recent surge of increasingly sophisticated malware attacks is affecting everyday New Zealanders as well as large organisations. The ... More>>

ALSO:

Economy: NZ Small Business Recovery Continues In September

Xero, the global small business platform, today released its Small Business Insights (XSBI) for September revealing an uptick in small business jobs and year-on-year revenue growth in New Zealand. Nationwide, the average number of jobs in the small ... More>>

ALSO:


Courts: Businessman Eric Watson Sentenced To A Four-Month Jail Term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports. More>>

OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>