Canstar’s Outstanding Value Business Credit Cards Awards 2024

Credit cards are more than just a tool for managing cashflow. Yes, they offer instant access to revolving credit, but they can also deliver a wealth of rewards, from cashbacks to flights and other goodies.

Therefore, picking the right credit card for your business needs can be tricky. The banks offer a range of credit card options with various 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. And that’s where Canstar’s annual Outstanding Value Business Credit Cards Awards can assist.

To help small business owners in their search for the best business credit cards, each year 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 (American Express, ANZ, ASB, BNZ, Kiwibank and Westpac) and compared 12 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 awarded 5-Star Outstanding Value ratings to the top card products, and presented the best overall card provider our award: Bank of the Year | Business Credit Cards.

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

Outstanding Value 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 take into consideration other card features.

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

ANZ Visa Business Low Rate card

• Lower interest rate and annual fee
• Insurance protection against unauthorised use
• Added layer of protection offered through dynamic security code
• Set individual spending limits on up to 15 cards
• Direct reporting through ANZ Internet Banking or ANZ Direct Online
• Up to 55 interest-free days

Rates & Fees:

• Purchase interest rate: 13.90% p.a.
• Cash advance interest rate: 20.95% p.a.
• Annual fee: $35 p.a.
• Joint/additional card: $5 p.a.

Kiwibank Business Low Rate Visa

• Set individual spend limits for cardholders
• Integrate reporting into MYOB or Xero
• Protection against unauthorised use
• Up to 55 interest-free days

Rates & Fees:

• Purchase interest rate: 12.50% p.a.
• Cash advance interest rate: 12.50% p.a.
• Annual fee: $25 p.a.

Outstanding Value 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 take into consideration other card features.

Here are the providers that top our ratings, scoring 5 Stars for their Rewards Business Credit Cards:

ANZ Visa Business Airpoints card

• 1 Airpoints Dollar per $85 of eligible spend, or 1 Airpoints Dollar per $50 of spend directly with Air New Zealand (up to $25,000)
• Business Owners earn 50% bonus Status Points on top of the Status Points earned on qualifying Air New Zealand flights
• 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
• Insurance protection against unauthorised use
• Added layer of protection offered through dynamic security code
• Up to 44 interest-free days

Rates & Fees:

• Purchase interest rate: 20.95% p.a.
• Cash advance interest rate: 20.95% p.a.
• Annual fee: $145 p.a.
• Joint/additional card: $5 p.a.

BNZ Advantage Visa Business – BNZ Rewards

• Spend $78 to earn $1 Cash Reward
• Up to 35 days travel insurance
• Emergency travel assistance
• Protection against unauthorised use
• Ability to add an additional cardholder
• Up to 50 interest-free days

Rates & Fees:

• Purchase interest rate: 18.95% p.a.
• Cash advance interest rate: 18.95% p.a.
• Annual fee: $100 p.a.

Westpac Airpoints Business Mastercard

• 1 Airpoints Dollar per $85 of eligible spend
• 1 Status Point for every $225 of eligible spend
• Up to 35 days travel insurance
• Discount on 12-month Koru membership
• 24-hour emergency assistance
• Purchase protection up to 90 days, plus extended warranties
• Up to 44 interest-free days on purchases

Rates & Fees:

• Purchase interest rate: 20.95% p.a.
• Cash advance interest rate: 22.95%
• Balance transfer rate (for life of the balance): 5.95% p.a.
• Annual fee: $145 p.a.
• Up to five additional cards: $25 p.a.

To learn more about our Business Credit Cards Awards, click on the button below.

Compare Business Credit Cards with Canstar!

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. 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.