Kiwibank Air NZ Platinum Visa Changing

Forums › Travel (planes, train, cruise) › Kiwibank Air NZ Platinum Visa Changing - Alternatives?

snowfly

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#300784 4-Oct-2022 12:27

Received an email this morning from Kiwibank with changes to the Air NZ Platinum Visa, effective 1 Nov 2022, decreasing it's appeal to me:

Airpoints earn rate going from $85 > $115 per A$1
6 monthly account fee increasing from $75 to $90
No more koru lounge eVouchers (received for every $30k spend)

I'm only silver on Air NZ, only do a few flights per year, and this card with the free lounge vouchers suited me just fine, but will be no longer.

Is Air NZ introducing their own new credit card on 1 Nov? (with better airpoints earn rate + lounge vouchers?)

I presume the ANZ Airpoints Visa Platinum will also change, removing lounge vouchers?

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#2977246 4-Oct-2022 12:42

Using American Express Airpoints Platinum Card - no issues if you tend to pay off your card each month etc.

$59 spend = A$1.

Still have a promo bonus A$300 when you join and spend $1500 minimum in 3 months.

Lounge pass but only for AMEX lounges - non in NZ. Higher cost for the card per annum though.

If I recall, had to get documents certified to be accepted as I was sole trader as they didn't accept my usual summaries.

ShrubMonkey

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#2977247 4-Oct-2022 12:43

Amex is $59/1 airpoint and $195 fee per annum. Most big organisations take it but many smaller ones do not, you would need a backup.

Actually I dont care much about airpoints anymore so would welcome any suggestions for alternatives such as cash back etc.

jonathan18

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#2977252 4-Oct-2022 13:00

Yeah, I find cashback cards much more useful as there are no limitations on what you can spend the money on. I really don't understand the appeal of those offering Flybuys etc. Never bothered with AE as I don't want the hassle of having to use multiple cards (for retailers that don't support AE).

I've had a BNZ cashback card for many years - $90 (+$20 for a second card) a year and $1 cashback for every $90 spent. Paid out monthly, but we elect to put it aside and once it's built up use it to fund non-critical purchases like art.

Excellent banking app and compatible with Google Pay (a must-have for me) and Apple Pay...

https://www.bnz.co.nz/personal-banking/credit-cards/bnz-advantage

johno1234

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#2977254 4-Oct-2022 13:16

Any update since this one from Air New Zealand?

https://www.stuff.co.nz/business/industries/127025479/air-new-zealand-set-to-launch-airpoints-credit-card-in-2022

Handsomedan

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#2977256 4-Oct-2022 13:18

A lot of cards are going to see the points/cash/benefits reducing over time.

There's merchant regulation coming, which is going to reduce the amount that retailers pay for accepting cards, but the converse of that is that there'll be less interchange income to the card issuers (which they use to fund these cashback/points/insurance/lounge schemes).

It won't be long until you see a really drastic reduction in benefits, in my opinion.

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Kyanar

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#2977257 4-Oct-2022 13:25

Handsomedan:

A lot of cards are going to see the points/cash/benefits reducing over time.

There's merchant regulation coming, which is going to reduce the amount that retailers pay for accepting cards, but the converse of that is that there'll be less interchange income to the card issuers (which they use to fund these cashback/points/insurance/lounge schemes).

It won't be long until you see a really drastic reduction in benefits, in my opinion.

Retailers don't really pay to accept cards though, they shunt that onto customers in the form of surcharges. And if the Australian experience is anything to go by, retailers will absorb the interchange cuts through schemes such as higher charging merchant service processor/terminal providers that pass the benefit to merchants in the form of cashback or points.

Interchange regulation doesn't work. It just ends up making customers, paradoxically, worse off.

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johno1234

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#2977258 4-Oct-2022 13:30

Handsomedan:

A lot of cards are going to see the points/cash/benefits reducing over time.

There's merchant regulation coming, which is going to reduce the amount that retailers pay for accepting cards, but the converse of that is that there'll be less interchange income to the card issuers (which they use to fund these cashback/points/insurance/lounge schemes).

It won't be long until you see a really drastic reduction in benefits, in my opinion.

Not that long ago Kiwibank Platinum earned 1 APD/$65 plus lounge vouchers. From next month it goes from $85 to $115 and vouchers gone - so drastic is happening now.

AMEX is the way to go at $59, unless AirNZ's own card comes out and has something better. If you have a supplementary card there's almost zero annual fee difference too. Hang onto your bank's zero fee card or get something like Wise for when you need a VISA card.

wlgspotter

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#2977259 4-Oct-2022 13:33

jonathan18:

Yeah, I find cashback cards much more useful as there are no limitations on what you can spend the money on. I really don't understand the appeal of those offering Flybuys etc. Never bothered with AE as I don't want the hassle of having to use multiple cards (for retailers that don't support AE).

I've had a BNZ cashback card for many years - $90 (+$20 for a second card) a year and $1 cashback for every $90 spent. Paid out monthly, but we elect to put it aside and once it's built up use it to fund non-critical purchases like art.

Excellent banking app and compatible with Google Pay (a must-have for me) and Apple Pay...

https://www.bnz.co.nz/personal-banking/credit-cards/bnz-advantage

We too, uses a CashBack Visa as our primary credit card, albeit the ANZ CashBack Visa Platinum - one that we've had for years. We liked the flexibiltiy of the CashBack, and we don't always fancy any kind of "items" from the rewards catalogue therefore a CashBack card works well. Only tning is the CashBack (credit back into account) is once per annum on the card anniversary, plus earn rate is $100 for $1 (1% cashback), therefore the BNZ Advantage Card that @jonathan18 mentioned is quite appealling. May look at switching...

openmedia

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#2977290 4-Oct-2022 14:20

Anyone else had the email as I haven't see it.

Here are the details on their site as it impacts a number of their other cards

https://www.kiwibank.co.nz/about-us/governance/public-notices/

I'm pleased to see the Status Point earning rate hasn't changed, but like many others I'm not looking for a new card.

Generally known online as OpenMedia, now working for Red Hat APAC as a Technology Evangelist and Portfolio Architect. Still playing with MythTV and digital media on the side.

openmedia

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#2977293 4-Oct-2022 14:25

Found the comparison table on the Air NZ site, which now needs updating to match the changes

https://www.airnewzealand.co.nz/airpoints-direct-earn-credit-card-comparison-table

Generally known online as OpenMedia, now working for Red Hat APAC as a Technology Evangelist and Portfolio Architect. Still playing with MythTV and digital media on the side.

Yetti92

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#2977366 4-Oct-2022 15:46

johno1234:

Any update since this one from Air New Zealand?

https://www.stuff.co.nz/business/industries/127025479/air-new-zealand-set-to-launch-airpoints-credit-card-in-2022

HummGroup was the issuer, and with their recent downscaling of their NZ operations in the past few months I wonder if this has delayed the new Air NZ card.

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Shindig

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#2977372 4-Oct-2022 16:09

I was going to go the other way and get a zero-charge card. The SBS one has no annual fee and cashback

https://www.sbsbank.co.nz/credit-cards

Also, if you cancel the KB Platinum card, you need to spend your accrued airports dollars first, or you will lose them.

I too not so loyal to AirNZ now and the removal of the lounge vouchers is pathetic!

The little things make the biggest difference.

johno1234

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#2977373 4-Oct-2022 16:09

Missed this last month, looks like it is cancelled:

https://kalkinemedia.com/au/stocks/financial/humm-group-asxhum-ends-partnership-discussions-with-air-new-zealand

PolicyGuy

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#2977374 4-Oct-2022 16:21

openmedia:

Anyone else had the email as I haven't see it.

Here are the details on their site as it impacts a number of their other cards

https://www.kiwibank.co.nz/about-us/governance/public-notices/
I'm pleased to see the Status Point earning rate hasn't changed, but like many others I'm not looking for a new card.

I got the email about noon today

johno1234

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#2977376 4-Oct-2022 16:37

The AirNZ APD benefit was kinda keeping me aboard with KB Visa, but I'm probably going to drop it now. I wonder if there are a lot like me and if KB know how much this might affect their market share?

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