BankDirect believes many New

Zealanders aren’t using the most appropriate type of credit

card to suit their financial needs. It used the re-launch of

the BankDirect Low Interest Visa card (LIV) to educate

people about this.

BankDirect’s LIV has the lowest

interest rate in the New Zealand credit card market. It is a

card designed for people who do not pay off their entire

balance each month.

Anna Curzon, Marketing Manager

BankDirect, says many New Zealanders choose not to pay off

their entire balance monthly, but remain with high interest

credit cards that increase their monthly debt.

“Low

interest credit cards are very popular overseas with

‘revolvers’ - people who don’t typically pay off their

entire credit card balance each month. In contrast, many

New Zealanders are using standard credit cards and paying up

to eight or nine percent extra in interest, which could

equate to a saving of up to $90 for every $1,000 credit per

year. With the increasing levels of household debt*, the

last thing people need is to be paying a higher than

necessary level of interest on their monthly credit card

account.

“Low interest credit cards are a smarter

choice for many people. The lead up to Christmas is always

a time when people’s finances are stretched, so we’ve

redesigned our card to get their attention and have them

consider a potentially better solution. We want people to

know that there may be a credit card better suited to their

spending and repayment habits.

BankDirect is using

its popular text service for people interested in LIV.

Interested parties simply text the word “card” and their

e-mail address to 3003, and BankDirect will send them more

information.

BankDirect LIV – key information:

Interest rate: 10.95% p.a.

Six monthly fee: $30

Debit

and credit card all in one.

Credit balance interest rate:

3.50%

Already ranked top by several credit card research

groups

Ends

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