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Debit Visa card

, posted: 3-Apr-2009 15:56

It's been advertised on TV so many times now. But how much is the annual cost? I'd think you could find this out from Kiwibank website, think again.

If the cost is not so much different than a normal credit card, isn't it a bit silly to switch? With normal credit card you can borrow money interest free for a month! And you get hot points on some cards.

Sure, there are people out there who abused their credit card and burry themselves into so much credit card debt. But credit card is a great financial tool for those 'Free loaders' who always pay on time ... like me Laughing

What free loading? I pay $100/year for this small card!

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Comment by simon14, on 3-Apr-2009 16:42

My Visa costs me $12 every 6 months in an account fee.

The Debit Visa card form ASB Bank costs $5 every 6 months.

I always paid my Visa on time like yourself, in fact I usually have money on my card, however I’ve switched to the Visa Debit card for the lower monthly fees.

Other people may want the convenience of a credit card but don't want to have the opportunity to get in debt.

Other people may not be eligible for a credit card from bad credit ratings. These people could benefit from this.

Author's note by asianbro, on 3-Apr-2009 17:00

Wow it's cheap! But still a difficult decision for me. Benefits with my Gold Visa:

1. Points that translates back to money on every purchase. If I use it on every groceries purchase, that would be a lot of points. And whether I have credit card or not, I still have to buy groceries. Last year I cash in my points and get $120 discount when I bought Eee PC from Dick Smith

2. Comprehensive travel insurance when paying at least 50% of the travel ticket with the card. Travel insurance worths $300 each travel. Unfortunately I don't travel much. But I do travel from time to time.

3. 1 year insurance to cover damage / stolen of newly purchased item.

4. I pay electric, gas, phone, Internet, etc using my credit card (more points). This one is good because sometime my bank account is low, but I always managed to pay before the interest applies.

On the other hands, a debit visa card is so cheap, but I won't get all the above benefits.

Hmmm ...

Comment by Decimate, on 3-Apr-2009 17:04

The first year on the Kiwibank DebitVisa is free, after that it is an annual $10 fee. Got mine today :D

Comment by mwilcox, on 3-Apr-2009 17:51

westpac debitplus $10pa :)

had it for ages too, funny seeing all this advertising for it when westpac's been offering them for a couple of years

Comment by paradoxsm, on 3-Apr-2009 20:58

Westpac "Debitplus Visa"
$10 annual fee

Kiwibank "Visa Debit
$10 annual fee, free for the first 12 months

ASB "Visa Debit"
$5 every 6 months

They have an extra little bonus, Use them in place of "direct debits" just one failed bank-account Direct debit would be equal to the annual fee for all 3 cards.

I have this card linked to my secondary account and use it online, I dump the exact funds across and no more and it's good to go. Westpac also have a "prepaid reloadable" option if you want to be super-safe.

Comment by Timestyles, on 3-Apr-2009 22:58

I can't see the point in using a debit card associated to your bank account. It's like saying to a retailer "Oh, here's my account, I trust you 100% to not make a mistake when you bill me. Oh, and no I'm not concerned that you're overseas, and only contactable via email."

Comment by Jason, on 5-Apr-2009 12:13

Just remember that it isn't a normal credit card. You will almost find yourself in a bit of a bind if you try to rent a car or check into a hotel.

Comment by anthony rangi, on 2-Aug-2010 12:14

could you please give me a few directives to start me off on my visa debit card. i have no knowledge of how it works and it would be great if someone on here could help me please and thanks. kind regards Anthony Rangi

Comment by justin, on 2-Sep-2010 04:09

Get a free visa debit card and rebuild your credit go here and fill out a quick form and they will send you one for free and it has many options for you to monitor check track and rebuild your credit history all for free

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