ASB Visa Platinum Rewards Credit Card $250 Cash Back

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Get $250 cashback paid into your ASB Visa Platinum Rewards Credit Card account when you open a new account by 31st July 2017 and spend $1000 before 31st Aug 2017

Low Platinum account fee of $80 p.a.


ASB Bank

Related Store: ASB Bank

Comments

  • -1 vote

    How can it be a good deal if you pay Purchase interest rate
    19.95%p.a. or Cash advance interest rate 22.95%p.a. + Individual account fee P.A $80?

    • +1 vote

      Just pay the balance in full, on time, and then you don't pay any interest. You can set up an AP to do this automatically each month.

    •  

      Yeap exactly what pleccy said- pay it off in full every month and you'll be away laughing. If there is chance you wont be paying it off then you should be steering clear of all credit cards.
      Just found out I can put heaps of my business payments on the business card with the same rewards rate, should end up being a decent amount by the end of the year

    •  

      Makes sense. This 1000NZD needs to be spent in one go 31st Aug 2017 or can be spent in multiple online transactions (amounting to a total of 1000NZD)?

  •  

    Any conditions regarding the cashback? i.e. after it's paid, i intend to cancel my card. Is there a clawback clause?

  • +1 vote

    Hmm can't transfer from an existing ASB card to this offer :\ and can't have held one before. Oh well, I won't be switching then.

  • +1 vote

    Note that you need to qualify for the minimum $8,000 limit to get this card.

  • +1 vote

    Note for those looking at continuing to use this card, run the calculations on what works best for you for the return rate and fee.
    This card gives $100 spend = TR$1. The usual rate for a platinum is slightly higher at $100 spend = $1 (eg airpoints).

    However the fee is $80 per year, which is approximately half the usual platinum fee. Without incentives and fee waivers, $8000 is the break even point for this card. $11250 is the break even point for most platinum.

    $20k spend will result in $120 profit after $80 fee on this card. On a regular platinum this would be $116.
    $30k spend will result in $220 profit after $80 fee on this card. On a regular platinum this would be $250
    etc

    •  

      I think you might have a typo with "The usual rate for a platinum is slightly higher at $100 spend = $1 (eg airpoints)"…

      Kiwibank Platinum - NZ$75 spent = $1 Airpoints
      Westpac Platinum - NZ$75 spent = $1 Airpoints ($70 NZD equivalent if spent in other currencies)
      ANZ Platinum - NZ$75 spent = $1 Airpoints

  •  

    The platinum fee is better than ANZ's 1% cashback card. I pay $125/yr but I get around $250 cashback. I don't buy into rewards scheme as I was a former true rewards member. The only thing worth redeeming are the vouchers which are the closest thing to cash. The thing that pissed me off was when they started charging a delivery and handling fee for redeeming vouchers when it used to be free.

    • +1 vote

      Actually, if you only spend around $25k per year and not hitting over $30k (based on you are only getting $250 cash back), might be more worth it to downgrade that visa cashback platinum to normal cashback card. The annual fee is only $60 for normal cash back card. That's what I have been using and it works for me

      •  

        Platinum cashback gives 1% cashback. Standard gives 0.5%. So even with the extra fee I still think I'm better off.

        Plus you get free travel insurance with platinum. I've booked a trip to usa in July some for me the platinum works well.

        •  

          Sorry I know this post may be old, but couldn't help pointing out some misinformation here.
          According to the anz website the standard card also gives 1% if you spend over the $10k threshold. Essentially it's the same as a platinum card minus the $30k limit and travel insurance.
          But yea I guess travel insurance do make it worth while getting a platinum.

    •  

      Yeah, I used to be with ASB but I really dislike the fees involved when redeeming vouchers. And from my knowledge, they charge $10 half a year for having a true rewards scheme? Hmmph. Not impressed.

      •  

        I spoke to the rep who processed my credit card. They gave me true rewards when I declined it in my application. Turns out that as of May 15, there is no longer a fee for having true rewards.

  •  

    good deal though dealing with ASB is a PITA I'd wait for another bank to do something similar

  •  

    So do you only have to pay $40 for 6 months to get the card for 6 months. Then you just need to spend $1k on it before September. Then they credit $250 onto you card? Then can you cancel and get the money transferred into your ASB account? So you get $210 free after the card fee? That seems to be a pretty good deal unless I am missing something?

    •  

      Then can you cancel and get the money transferred into your ASB account?

      I think its just a statement credit, paid against the balance. Pretty much the same thing though.

  •  

    This is the best site for comparing credit card rewards:
    Here's the link for the best cashback card.
    http://www.canstar.co.nz/compare/rewards-credit-cards/?profi...

  • +1 vote

    hah oops mistake. Can you edit that comment and replace the link to http://www.canstar.co.nz/credit-cards/

  •  

    One problem is that the number of questions they ask, and the amount of info they require, is probably a good couple of hours of work involved, including listing all assets etc. Don't think they asked anywhere near as many questions when I got my other credit cards.

    •  

      Yeah they rejected my online application and asked me to send in several pieces of evidence and phoned me a few times with several questions

      •  

        I have already spent quite a lot of time myself giving them extra info they require. Never had to go through all this previously. So whether it will end up being worth the money you get as a cashback has yet to be seen.

        •  

          Yeah, I know exactly what you mean. I was on the verge of giving up after the second or third phone call with ASB. Thankfully it got approved in the end

  •  

    If not a transaction over the counter, I can do a cash advance which is when you withdraw cash with the card or transfer to your other ASB accounts. If I do such a cash advance of 1 grand, will I still qualify for $250 Cash Back