Canstar Reveals its 2022 Awards for Outstanding Value Business Credit Cards

Credit cards are an invaluable tool for those who run or own a business. They give instant access to revolving credit, which can help with monthly cash flow; they are a way to track and limit spending; and rewards business credit cards can even help boost finances, or provide freebie flights and rewards.

However, choosing the right credit card to meet a business’ requirements can be tricky. There are numerous options available, and each comes with its own range of fees, interest rates, features and loyalty programs. Pick the wrong one and you could miss out on valuable rewards, or end up paying unnecessary fees and interest.

If you run a small business, a little research into your firm’s spending habits can help to determine the right card for your company. Especially if you also refer to Canstar’s annual star ratings and awards for Outstanding Value Business Credit Cards.

To help small business owners in their search for the best business credit cards, Canstar’s expert team of researchers uses a sophisticated rating methodology to compare and rate business credit card providers in the New Zealand market, across two card profiles:

• Low Rate Business Credit Cards
• Rewards Business Credit Cards

This year the research encompassed six different providers, and compared 13 different cards across a range of characteristics, including:

• Fees and interest rates
• Number of interest free days
• Standard and premium features
• Reward and loyalty programs

On the basis of our research, we award 5-Star Outstanding Value ratings to the top card products, and present the best overall card provider our top award: Bank of the Year | Business Credit Cards.

This year our top award goes to the ANZ but, overall, five cards from four providers achieved our top 5-Star ratings for Outstanding Value in the Business Credit Card market.

Low Rate Business Credit Cards

Finding a business credit card that offers the lowest interest rate can have a big impact on businesses that carry a revolving balance from month to month.

To determine the best Low Rate cards in the market, Canstar’s ratings look primarily at the cost of owning the card – interest rates and fees – but also takes into consideration other card features.

Here are the two providers that top our ratings by scoring 5 Stars for their Low Rate Business Credit Cards:

ANZ Visa Business Low Rate card: Canstar Outstanding Value 5-Star Rating

• Lower interest rate and lower annual fee
• Protection against unauthorised use: liability waiver insurance protects against unauthorised card transactions
• Control over expenditure: up to nine cards on an account with individual spend limits
• Easy reporting and analysis through ANZ internet banking or ANZ Direct Online reporting
• Improved cash flow: up to 55 interest-free days on purchases

Rates & Fees:

• Interest rate on purchases: 12.90% p.a.
• Interest rate on cash advances: 19.95% p.a.
• Annual fee: $35 p.a.
• Additional card: $5 p.a.

Kiwibank Business Low Rate Visa: Canstar Outstanding Value 5-Star Rating

• Control over expenditure: set different spend limits for each cardholder
• Avoid errors and save time in reporting by integrating accounting software like MYOB or Xero
• Protection against unauthorised use: liability waiver insurance protects against unauthorised card transactions
• Improved cash flow: up to 55 interest-free days on purchases

Rates & Fees:

• Interest rate on purchases: 12.50% p.a.
• Interest rate on cash advances: 12.50% p.a.
• Annual fee: $25 p.a. per card

Rewards Business Credit Cards

Businesses that pay off their card balances each month may prefer rewards cards, which offer cash-backs or access to loyalty schemes rather than low fees.

To determine the best Rewards cards in the market, Canstar’s ratings look primarily at the flight or cash/gift returns offered by a card measured against different levels of annual spending, but also takes into consideration other card features.

Here are the three providers that top our ratings by scoring 5 Stars for their rewards programs:

ANZ Visa Business Airpoints card: Canstar Outstanding Value 5-Star Rating

• 1 Airpoints Dollar per $75 of eligible spend, or 1 Airpoints Dollar per $50 of spend directly with Air New Zealand (up to $25,000)
• Business Owners earn 1 Status Point for every $250 spent on eligible purchases
• No Koru club joining fee (saving of $255), plus a discount of $145 off the standard 12-month individual Koru membership fee for all principals of a business
• Airpoints Dollars do not expire during card membership
• Protection against unauthorised use: liability waiver insurance protects against unauthorised card transactions
• Up to 44 interest-free days on purchases

Rates & Fees:

• Interest rate on purchases: 19.95% p.a.
• Interest rate on cash advances: 19.95% p.a.
• Annual fee: $145 p.a.
• Additional card: $5 p.a.

BNZ Advantage Visa Business – Cashback: Canstar Outstanding Value 5-Star Rating

• Spend $75 to earn $1 Cash Reward
• Up to 35 days travel insurance
• Emergency travel assistance
• Corporate liability insurance: protect your business against misuse
• Up to 50 interest-free days on purchases

Rates & Fees:

• Interest rate on purchases: 18.95% p.a.
• Annual fee: $100 p.a.
• Additional cards: $20 p.a.

Westpac Airpoints Business Mastercard: Canstar Outstanding Value 5-Star Rating

• Earn one Airpoints Dollar for every $85 on eligible business spend
• Earn one Status Point for every $225 you spend on eligible purchases and climb Airpoints membership tiers to enjoy exclusive travel benefits
• Up to 35 days of overseas travel insurance
• Enjoy a discount on 12-month Koru membership
• 24-hour credit card emergency assistance
• Purchase protection up to 90 days and extended warranty on purchases
• Up to 44 interest-free days on purchases

Rates & Fees:

• Interest rate on purchases: 20.95% p.a.
• Interest rate on cash advances: 22.95%.
• Annual fee: $145 p.a.
• Joint or up to five additional cards: $25 p.a.

If you want to know more about ANZ’s Bank of the Year | Business Credit Cards win, or want to check out our full Outstanding Value Business Credit Card Star Ratings, just click on the button below.

Compare Business Credit Cards for free with Canstar!

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.