Compare side by side, the features, benefits, interest rates and fees of our Low Rate and Platinum Mastercards.
| Low Rate Mastercard | Platinum Mastercard | ||||
|---|---|---|---|---|---|
| Key feature | Low Rate Mastercard | Pay a lower interest rate on your card balance | Platinum Mastercard | Get rewarded for your card spend – earn $1 cashback on every $100 spent on eligible purchases⁸ | |
| Annual card fee | Low Rate Mastercard | $20 | Platinum Mastercard | $90 | |
| Additional cardholder fee | Low Rate Mastercard | $5 per year | Platinum Mastercard | $5 per year | |
| Interest rate for purchases⁵ | Low Rate Mastercard | 11.95% p.a. | Platinum Mastercard | 20.95% p.a. | |
| Interest rate for cash advances⁵ | Low Rate Mastercard | 11.95% p.a. | Platinum Mastercard | 22.95% p.a. | |
| Balance transfer offer¹⁰ | Low Rate Mastercard | 0% p.a. for 6 months | Platinum Mastercard | 0% p.a. for 6 months | |
| Foreign currency conversion fee | Low Rate Mastercard | 1.9% | Platinum Mastercard | 1.9% | |
| Credit limit | Low Rate Mastercard | $500-$30,000 | Platinum Mastercard | $8,000-$50,000 | |
| Minimum income required | Low Rate Mastercard | $18,000 per year (after tax) | Platinum Mastercard | $18,000 per year (after tax) | |
| Interest free credit for purchases⁶ | Low Rate Mastercard | Up to 55 days | Platinum Mastercard | Up to 55 days | |
| Earn $1 cashback on every $100 spent on eligible purchases⁸ | Low Rate Mastercard | ✗ | Platinum Mastercard | ✓ | |
| Tap to pay with Apple Pay¹ and Google Pay² | Low Rate Mastercard | ✓ | Platinum Mastercard | ✓ | |
| Mobile Phone Protection Insurance, Price Protection Insurance and Purchase Protection Insurance⁷ | Low Rate Mastercard | ✓ | Platinum Mastercard | ✓ | |
| Domestic & International Travel insurance⁹ | Low Rate Mastercard | ✗ | Platinum Mastercard | ✓ | |
| Use your card to access a range of Mastercard cardholder offers and experiences⁴ with Priceless® | Low Rate Mastercard | ✓ | Platinum Mastercard | ✓ | |
| Protection from fraud with Mastercard’s Zero Liability Promise³ | Low Rate Mastercard | ✓ | Platinum Mastercard | ✓ |
Other fees and interest rates apply. Interest rates are subject to change. See TSB Credit Mastercard rates, fees and agreements for more detail.
Apply online for a credit card
The application will take approximately 15-20 minutes to complete.
To apply for a TSB credit card, you need to make sure you:
- Are aged 18 years or over.
- Receive a regular income of $18,000 or more per year (after tax).
- Are either a New Zealand citizen living in New Zealand, or resident visa holder living in New Zealand.
- Are not bankrupt and have not had any insolvency action taken against you.
- Can meet our lending criteria and have a good credit history.
- Have your bank statements, information on all your expenses and proof of your income handy.
We’ll handle all information you provide us in accordance with our Privacy Notice and the Privacy Act 2020.
Important information
- The TSB Apple Pay Conditions of Use apply when you use your card in Apple Pay.
- The TSB Google Pay Conditions of Use apply to Google Pay, see Google Pay for more information.
- For details on Mastercard’s Zero Liability promise visit mastercard.co.nz/zeroliability.
- Priceless experiences are subject to terms and conditions at www.priceless.com/terms/en_NZ
- Different interest rates apply to balance transfers. We can change our interest rates and fees from time to time.
- Up to 55 days interest free credit for purchases when you pay the closing balance of your statement in full each month by the due date. Purchases don’t include cash advances or balance transfers.
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Mobile Phone Protection Insurance, Purchase Protection Insurance and Price Protection Insurance are underwritten by AIG Insurance New Zealand Limited (“AIG”). AIG, TSB or Mastercard do not provide financial advice about the insurance. TSB Credit Mastercard Insurance Terms and Conditions sets out the details of what is covered, claims limits, what is not covered, and eligibility to help you determine if the insurance is right for you. The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency. AIG Insurance New Zealand Limited has an A+ (Strong) insurer financial strength rating given by Standard & Poor’s (Australia) Pty Ltd. The rating scale, in summary form is:
AAA Extremely Strong BBB Good CCC Very Weak SD Selective Default
AA Very Strong BB Marginal CC Extremely weak D Default
A Strong B Weak C Regulatory Action NR Not Rated
The rating from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. A full description of the rating scale is available on Standard & Poor’s website.
- Eligible purchases exclude fees, interest, cash advances, transactions that are like cash (such as purchases of travellers’ cheques and crypto currency), balance transfers, gambling chips and other gambling transactions (such as online gambling), tax payments and other payments to a tax department in New Zealand or overseas, any transaction that is reversed or refunded, and transactions that are processed on an account or card that is not a TSB Platinum Mastercard.
- TSB Platinum Mastercard Travel Insurance is issued and managed by AWP Services New Zealand Limited trading as Allianz Partners (NZBN 9429035270157) under binder with and on behalf of Mitsui Sumitomo Insurance Company, Limited (NZBN 9429039809810, FSP Number 20661) (Incorporated in Japan) as the underwriter. You should read the Policy Wording and consider obtaining independent legal or financial advice before making any decisions about this insurance. Terms, conditions, limits, sub-limits, exclusions and eligibility criteria apply. See TSB Credit Mastercard Insurance Terms and Conditions for details.
- Balance transfer terms apply. Any unpaid balance transfer amount at the end of the 6-month period will be treated as a purchase from that date and the purchase interest rate will apply.
The terms and conditions for the TSB Low Rate Mastercard and TSB Platinum Mastercard are set out in Credit Mastercard Conditions of Use, Credit Mastercard Fees Information and your card summary.
Mastercard and Priceless are registered trademarks, and the circles design is a trademark of Mastercard International.
Apple Pay, Apple Wallet, iPhone and Apple Watch are trademarks of Apple Inc., registered in the U.S. and other countries.
Google Pay is a trademark of Google LLC.