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As Kiwis Spend Up Large Staying Local, Kiwibank Takes Bank Of The Year, Credit Cards

Credit cards continue to be a popular payment option for New Zealanders, with a recent splurge in spending showing Kiwis are enjoying the summer. According to Kiwibank data, New Zealanders are making the most of staying local, travelling to see the best of New Zealand and spending more on their home renovations.

And today, Canstar is proud to announce Kiwibank as its winner of Credit Cards Bank of the Year Award 2021. The New Zealand-owned bank offers a range of choices for customers and was tipped into the winning spot by its low rate card, with its cost and feature ratings outperforming other major banks in the market.

Kiwibank’s Fiona Ehn, GM Cards and Payments, said: “We are delighted to have been recognised by Canstar as having the leading credit card portfolio in NZ. Our range of products are designed to give our customers choice and to get ahead no matter what their goals might be, whether it’s to offer a lower rate, more affordable product or the ability for customers to earn where they spend.”

Jose George, Canstar New Zealand General Manager, said Kiwibank’s portfolio was strong, with its low rate card doing particularly well when rated against other major players in the market. Mr George also noted credit cards continued to play a key role in people’s financial arrangements, despite the rise in popularity of alternative payment systems such as Buy Now Pay Later.

Credit cards, which have higher levels of credit control and oversight, remain a valuable tool for many New Zealanders, Mr George said. “For those who use credit cards wisely, by staying within their budget and making repayments on time, credit cards are extremely useful for managing personal finances.”

For further details please visit the Canstar NZ site, here.

CANSTAR provides Australia and New Zealand's only fully interactive online research service in retail and business finance. Founded in 1992, CANSTAR Pty Limited (formerly CANNEX) is Australia and New Zealand's premier researcher of retail finance information for over 250 institutions such as Banks, Building Societies, Credit Unions, Finance Companies, Brokers, Mortgage Originators, Life Companies and finance related Internet Portals. CANSTAR customers use the extensive database for competitor analysis as well as a means of disseminating their product range. CANSTAR also distributes this information to print and electronic media for publication and to Agents, Accountants, Brokers and Internet Portals for use in advising their clients. CANSTAR researches, compares and rates a suite of banking products listed below. Results are freely available to consumers who use the star ratings as a guide to product excellence. The use of similar star ratings logos also builds consumer recognition of quality products across all categories. Please access the CANSTAR website at www.canstar.co.nz if you would like to view the latest star ratings reports of interest.

© CANSTAR New Zealand Limited (3225469), 2008-2013. The recipient must not reproduce or transmit to third parties the whole or any part of this work, whether attributed to CANSTAR or not, unless with prior written permission from CANSTAR, which if provided, may be provided on conditions. To the extent that any CANSTAR data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR New Zealand Limited (3225469) FSP 200146 and does not take into account your individual investment objectives, financial circumstances or needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as such. CANSTAR recommends that, before you make any financial decision, you seek professional advice from a suitably qualified adviser. A Product Disclosure Statement relating to the product should also be obtained and considered before making any decision about whether to acquire the product. CANSTAR acknowledges that past performance is not a reliable indicator of future performance.

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