Frequently asked questions
Why is the fee increasing for my ASB Visa Platinum Rewards credit card?
As part of our review, we're making a change to the biannual account fee. This fee hasn't increased since the ASB Visa Platinum Rewards credit card launched in 2008, and while we’ve worked to keep costs down, the cost of providing and maintaining the product has increased over time. From 15 September 2026, the account fees will increase - so we can continue to offer value through benefits like no Offshore Service Margin on our personal ASB Visa credit cards, and competitive earn rates for True Rewards and Everyday Rewards.
What are the ASB Visa Platinum Rewards credit card fees increasing to?
From 15 September 2026 the account fees on our ASB Visa Platinum Rewards credit card will increase to the following:
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Current fees
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New fees from 15 September 2026
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Individual account fee (every 6 months)
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$40
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$62.50
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Joint account fee (per person, every 6 months)
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$27.50
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$42.50
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Additional card (per card, every 6 months)
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$15
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$22.50
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Is the ASB Visa Platinum Rewards credit card still right for me?
We encourage you to regularly review your ASB Visa credit card to make sure it still meets your needs.
If you'd like to explore other options, you can compare our full range of ASB Visa credit cards here.
What is an Offshore Service Margin?
An Offshore Service Margin (OSM) is a charge that is usually applied on credit card transactions made in a foreign currency or when shopping overseas - online or in-store or when you use an international ATM. This is currently at 2.10% but will be removed from 15 September 2026 across all personal ASB Visa Credit Cards including ASB Visa Light, ASB Visa Rewards and ASB Visa Platinum Rewards.
Why is the Offshore Service Margin being removed for all personal ASB Visa credit cards and not on ASB Visa business credit cards or ASB Visa debit cards?
We regularly review our products to ensure they continue to meet customer needs. We are removing the Offshore Service Margin from all personal ASB Visa credit cards from 15 September 2026, which includes ASB Visa Light, ASB Visa Rewards and ASB Visa Platinum Rewards (ASB Visa Flex already operates without an OSM).
This change reflects a decision we've made for our personal credit cards, and we will continue to review other products over time.
At this time, an Offshore Service Margin of 2.10% will continue to be charged on the converted New Zealand dollar amount of each overseas cash transaction made using ASB Visa Business credit cards and ASB Visa Debit card transactions and 1.10% for ASB Fastcash transactions.
Why did you charge an Offshore Service Margin to customers for years and are now removing it?
As customer spending habits and the payments landscape have evolved, we've reviewed this approach and decided to remove the charge from ASB's personal Visa credit cards. This change means lower costs for customers when shopping overseas - online or in-store or when using an International ATM with a simpler fee structure.
Is it better to pay in NZD when travelling overseas?
When travelling overseas, choosing to pay in the local currency can help you avoid extra costs built into a merchant's exchange rate and gives you a clearer, more consistent conversion on your ASB Visa credit cards. It's a simple way to stay in control of your spending.
Do I need to do anything to activate it?
No, this change will happen automatically and there is nothing you need to do.
What are the changes to Interest Free days and when will it happen?
ASB offers up to 55 days interest free on purchases made using a personal ASB Visa credit card (or up to 50 days interest free on ASB Visa business credit cards). This means you can get a maximum of 55 days where you won't be charged interest on a new purchase (or related fees), provided you've paid the closing balance on your credit card statement in full the month before.
We plan to reduce the interest free days in 2027. We don't have an exact date for this change yet, but you will be notified before the change takes effect.
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Currently
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In the future (2027)
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All ASB Visa personal credit cards.
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Up to 55 days interest free
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Up to 44 days interest free
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All ASB Visa business credit cards.
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Up to 50 days interest free
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Up to 44 days interest free
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