Fair interest rate
Our Fair Rate Credit Card has a floating interest rate of 12.95% p.a. on purchases and cash advances. Having one interest rate is simple and fair, just the way it should be.
Save on interest
Pay 0% p.a. for 6 months on balances transferred from another credit card or store card. After 6 months, a floating interest rate of 12.95% p.a. will apply to any remaining transferred balance.
Get it done online
You can apply online, order a new card, keep track of your purchases, and request a change to your credit limit. You could get it done online, anytime via Internet Banking or our Mobile App.
Find out if it's right for you
There's an account fee of $10 every six months. Interest rates are floating, which means they may change. It's important to understand all of the terms and conditions. Please scroll down to check out the full list of interest rates and fees and conditions of use.
We apply payments first to fees and interest, and then to the part of your balance attracting the highest interest rate. So if you've transferred a balance from another card, you can use your Fair Rate Credit Card and still make the most of the interest-free period on your transferred balance.
Make purchases of up to $200 in the blink of an eye using Mastercard® Tap & Go®. Use the card anywhere Mastercard is accepted, here in New Zealand and overseas.
Fraud detection is easy thanks to 24/7 transaction monitoring. If your card details should ever fall into the wrong hands, it's easy to block your card via Internet Banking or our Mobile App. You could also be protected under the Mastercard Zero Liability Policy.
A quick and easy extra layer of security called Mastercard® ID Check that helps us check it’s you (and not someone pretending to be you with your card) when shopping online. Find out more about Mastercard® ID Check.
We’re introducing new card designs on 70% recycled PVC plastic. This makes us one of only a few banks in New Zealand that offer cards made from recycled materials and is another way that we are showing our commitment as a B Corp organisation. The newly designed cards provide all the same functionality as the current cards. Learn more from FAQs.
Eligibility
To get a credit card with us, you need to be 18 years or older, currently living in New Zealand, and either a New Zealand citizen or permanent resident. You'll also need to meet our lending criteria.
Balance transfers
Our minimum balance transfer amount is $100 and we also require that the transfer does not take you beyond 80% of your credit limit, this is to ensure there is a buffer to cover any fees or interest charges. We can only transfer from another card once, but you can consolidate multiple cards in one balance transfer.
Interest free days
Get up to 55 days interest free on purchases by paying your entire balance by the due date each month. The interest-free period doesn't apply to cash advances. If you have a transferred balance, you will be eligible for interest-free days on new purchases once you have paid off your transferred balance.
Due to the ongoing conflict in Ukraine, Mastercard has suspended its network services in Russia.
This means that the Co‑operative Debit Mastercard and the Fair Rate Credit Card will no longer work for online purchases made from Russian merchants and will no longer work within Russia at either ATMs or at Russian merchants.
If you have any queries in relation to this then please call us on 0800 554 554.
Other important things to know
Interest rates and fees are subject to change. For full terms and conditions for this credit card, see the Conditions of Use and Fees & Rates brochure.
*The Mastercard Zero Liability Terms and Conditions can be found here.
Learn about an extra layer of security called Mastercard® ID Check.
If you would like to pay your Fair Rate Credit Card by direct debit, please download the Direct Debit Authority Form and email it to Card Ops.
If you need any budgeting support or other financial support you may find it beneficial to contact Money Talks at https://www.moneytalks.co.nz/.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
| Type | Interest rate/Fee |
|---|---|
| Interest rate - Purchases | 12.95% p.a. |
| Interest rate - Cash Advances | 12.95% p.a. |
Balance Transfer (6 months) After 6 months, any remaining transferred balance will be treated like a cash advance and our standard interest rate for cash advances will apply (currently 12.95%p.a.). | 0% p.a. |
| Minimum limit | $1,000 |
| Account fee (Primary card holder only) | $10 every six months |
| Account fee (Primary with additional card/s) | $15 every six months |
| Cash advance fee – Overseas (ATM or branch) | $6.50 per transaction |
| Foreign currency conversion fee | 1.90% of the New Zealand dollar converted value of the foreign currency transaction |
| Late payment fee | $0 |
| Card replacement fee | $10 (plus courier costs, where applicable) |
| Copy of statement fee | Free (accessible only via internet banking) |
| Disputed transaction handling fee | $0 |