Latest news with #Airpoints
Scoop
28-05-2025
- Business
- Scoop
MoneyHub Publishes Guide To Replace Kiwibank Airpoints Credit Cards As Partnership Ends
29 May 2025 – MoneyHub, a leading New Zealand financial comparison platform, has released a comprehensive guide to help Kiwibank Airpoints credit cardholders navigate the termination of the Kiwibank and Air New Zealand Airpoints partnership, effective 31 October 2025. The guide, titled " How to Replace Your Kiwibank Airpoints Credit Card: Best Options", outlines alternative Airpoints-earning credit cards, transition tips, and key considerations to ensure cardholders continue earning Airpoints Dollars and Status Points. In late May 2025, Kiwibank announced the end of its Airpoints credit card program due to rising costs and new interchange fee regulations, impacting holders of the Kiwibank Airpoints Platinum Visa and Airpoints Low Fee Visa. From 1 November 2025, these cards will transition to non-Airpoints-earning Platinum Visa or Zero Visa products. MoneyHub's guide addresses the implications of this change and provides actionable solutions for affected customers. Key Highlights from the Guide: Top Picks for Replacement Cards: AMEX Airpoints Platinum: Best overall, with a superior earn rate of 1 Airpoints Dollar per $70 spent, 300 bonus Airpoints Dollars, and perks like lounge access and travel insurance ($195 annual fee). AMEX Airpoints Card: Best no-fee option, earning 1 Airpoints Dollar per $100 spent with no annual cost. ANZ Airpoints Visa Platinum: Ideal Visa/Mastercard option for wider acceptance, earning 1 Airpoints Dollar per $110 spent ($150 annual fee). Alternative Earning Methods: For those opting not to switch cards, Airpoints can be earned through Air New Zealand flights, partner retailers like New World and Z Energy, or travel bookings. Christopher Walsh, MoneyHub Founder, commented: "The end of Kiwibank's Airpoints program is a blow for loyal cardholders, but our guide shows that better options exist. The AMEX Airpoints Platinum Card stands out for its unmatched earn rate and premium perks, making it a seamless and rewarding switch for most users'. MoneyHub's guide also addresses frequently asked questions, such as Airpoints expiry and the value of Kiwibank's replacement Platinum Visa, which offers travel insurance but no Airpoints rewards. The guide emphasises the importance of acting before the 31 October 2025 deadline to maintain Airpoints benefits.
NZ Herald
28-05-2025
- Business
- NZ Herald
Kiwibank ends Airpoints credit card rewards: State-owned bank says higher costs hit scheme
Kiwibank is ending its Airpoints credit card rewards, which it says is due to increasing costs and regulation changes. Kiwibank chief customer officer Mark Stephen said the state-owned bank's new Platinum Visa would make up for the loss of Airpoints. Cardholders will be able to earn Airpoints until October 31
RNZ News
27-05-2025
- Business
- RNZ News
Kiwibank and Airpoints part ways
Kiwibank said it would replace its Airpoints-earning card with one that has a lower interest rate. Photo: Kiwibank Kiwibank says a change to the regulation of interchange fees is behind its decision to stop offering a credit card that earns Airpoints. It said on Tuesday that it had decided to end its partnership with Airpoints. It would replace its Airpoints-earning card with one that has a lower interest rate, more interest-free days and travel insurance benefits. It said the regulatory and economic landscape had changed significantly over the past decade and increased costs and changes to interchange fee regulations had affected the value and viability of the Kiwibank Airpoints reward programme. When a transaction is made, the bank that processes it for the merchant pays a fee to the card provider, called an interchange fee. The Commerce Commission has promised more reductions to interchange fees, with a decision due by 31 July. In 2022, new rules for merchant fees were forecast to mean cuts to credit card reward programmes. At the time, ASB proposed and then backtracked on plans to significantly increase the amount people had to spend on their credit cards to earn rewards. Kiiwbank said it supported promoting competition and efficiency but lowering interchange fees could reduce the variety of payment options available to customers. Mark Stephen, Kiwibank's chief customer officer for retail, said Kiwibank wanted to prioritise investment that provided value to the greatest number of customers. "After a thorough review, we concluded that these products are no longer the most effective way to achieve this. "The alternative to closing the products would be to reduce the rate at which points are earned or to pass on increased costs through higher interest rates - options we believe are neither fair nor in customers' best interests, as it would mean that customers who do not repay their balance in full every month would further subsidise rewards for those who do." He said Kiwibank also offered a Zero Visa card with no annual fee and a 12.9 percent interest rate. Customers can continue to earn Airpoints until 31 October, at which point they will move to a Platinum Visa card automatically. Air New Zealand said the decision was made jointly between it and Kiwibank. Chief digital officer Nikhil Ravishankar said it regularly reviewed its partnerships to ensure it was delivering value to Airpoints members and partners. "We have three strong banking partners who all offer Airpoints credit cards for Airpoints members, and we know Airpoints members place great value on having the ability to earn Airpoints and other travel-related benefits on their everyday purchases. "In addition, we are always looking for opportunities to offer new benefits to our members, whether that be through new partners, like the recent introduction of HelloFresh, Sharesies, and Everyday Rewards, or exploring new ways to diversify our offering through different products." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
27-05-2025
- Business
- RNZ News
Kiwibank drops Airpoints credit card
Kiwibank said it would replace its Airpoints-earning card with one that has a lower interest rate. Photo: Kiwibank Kiwibank says a change to the regulation of interchange fees is behind its decision to stop offering a credit card that earns Airpoints. It said on Tuesday that it had decided to end its partnership with Airpoints. It would replace its Airpoints-earning card with one that has a lower interest rate, more interest-free days and travel insurance benefits. It said the regulatory and economic landscape had changed significantly over the past decade and increased costs and changes to interchange fee regulations had affected the value and viability of the Kiwibank Airpoints reward programme. When a transaction is made, the bank that processes it for the merchant pays a fee to the card provider, called an interchange fee. The Commerce Commission has promised more reductions to interchange fees, with a decision due by 31 July. In 2022, new rules for merchant fees were forecast to mean cuts to credit card reward programmes. At the time, ASB proposed and then backtracked on plans to significantly increase the amount people had to spend on their credit cards to earn rewards. Kiiwbank said it supported promoting competition and efficiency but lowering interchange fees could reduce the variety of payment options available to customers. Mark Stephen, Kiwibank's chief customer officer for retail, said Kiwibank wanted to prioritise investment that provided value to the greatest number of customers. "After a thorough review, we concluded that these products are no longer the most effective way to achieve this. "The alternative to closing the products would be to reduce the rate at which points are earned or to pass on increased costs through higher interest rates - options we believe are neither fair nor in customers' best interests, as it would mean that customers who do not repay their balance in full every month would further subsidise rewards for those who do." He said Kiwibank also offered a Zero Visa card with no annual fee and a 12.9 percent interest rate. Customers can continue to earn Airpoints until 31 October, at which point they will move to a Platinum Visa card automatically. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
NZ Herald
12-05-2025
- Business
- NZ Herald
Air New Zealand plans ‘Elite Plus' frequent flyer tier, new exclusive lounge at Auckland Airport
The airline's lounges were 'a highly valued part of the travel experience for many of our customers, whether they're flying within New Zealand or internationally', Air New Zealand chief commercial officer Jeremy O'Brien told the Herald. 'We're always looking for ways to enhance that experience, including exploring the development of a new premium lounge at Auckland International Airport. 'As part of this, we're reviewing how the planned redevelopment at Auckland Airport could shape our lounge offerings in the future.' Elite Lounge Work will begin on constructing Air New Zealand 's new Elite lounge in the next six months, coinciding with a complete renovation of its current lounge at Auckland Airport, O'Brien told Executive Traveller. Rather than dividing space in the current lounge, which has become prone to over-crowding, the airline plans to take on more floorspace to accommodate the new premium lounge. 'We'll be able to give a full elite experience to customers,' O'Brien said. Unfettered access would only be available for Elite, 'Elite Plus' and Elite Priority One members, along with those flying Business Premier. Airpoints Gold and Star Alliance Gold members would still be able to access the main lounge as usual. 'One of the options will be a lounge area for Elite members and Business Class passengers,' O'Brien said. Construction dates remained tentative. Air New Zealand's two-tiered lounge plan is not a new concept. Qantas, which had a premium lounge at Auckland Airport before it closed in April for renovations, has provided passengers with tiered lounge options at many of its hubs. 'Elite Plus' frequent flier tier O'Brien told Executive Traveller that the long-rumoured 'Elite Plus' tier 'will be announced in the next six months', with the new lounge likely being revealed at the same time. '[Members will] have preferential access, priority around upgrades and cabin seating, those sorts of things.' While the new tier's name was confirmed frequent flyers would have to wait until the formal announcement to hear more, O'Brien said. Air New Zealand has eyed the expansion of its Airpoints programme since at least 2020, when Airpoints Elite members were asked what perks they would expect from an 'Elite Plus' tier in a select survey. At the time, the airline was considering benefits such as an upgrade request guarantee based on seat availability, free 'home airport' parking, and the chance for members to nominate a companion to fly with them free of charge. Air New Zealand's former loyalty boss, Kate O'Brien, said during the airline's 2024 Investor Day that Airpoints members had responded well to the airline's latest suggestions, especially that of an exclusive lounge for those at Elite level or above.
