BNZ Reduces Interest-Free Days on Two Credit Cards Amid Fresh Fee Regulations
Bank of New Zealand (BNZ) has confirmed it is reducing the number of interest-free days available on two of its credit cards, citing changes to interchange fee regulations as the reason for the adjustment. The change affects the BNZ Advantage Visa Classic and BNZ Advantage Visa Platinum cards, which will now offer up to 44 interest-free days on purchases, down from the previous maximum of 55 days.
The adjustment applies to statements starting on or after 3 February 2026. Cardholders who pay their balance in full each month will need to settle their outstanding amount earlier to continue benefiting from the interest-free period. BNZ has stated that payment due dates will shift accordingly, and any direct debits set up for minimum or full balance payments will be updated automatically.
The bank said the change follows new interchange fee rules introduced in December, which limit what can be charged per transaction. BNZ noted it reviewed its credit card offerings in response, prioritizing customer feedback that highlighted rewards programmes as a top concern and annual fee increases as a primary worry. The adjustments aim to maintain value in these areas while ensuring the long-term sustainability of its credit card products.
BNZ confirmed that its BNZ Lite Visa card retains the original 55-day interest-free period and is not affected by the change.
The move aligns with broader industry trends, as other banks adjust their credit card features in response to regulatory changes impacting interchange revenue. BNZ emphasized that the decision was informed by a national survey of cardholders, which found that rewards and points programmes were the most important factor when choosing a credit card.
For customers seeking further details, BNZ advises checking payment due dates on monthly statements, through Internet Banking, or via the BNZ mobile app. The bank also recommends reviewing its guide on understanding interest charges for more information on how the change affects billing cycles.