TSB Banks cuts Visa credit card rate by 3% to market leading 15.5%

TSB Bank has cut its Classic Visa credit card interest rate by 3% to 15.5% from December 22. This is significantly below the big 5 banks, including ANZ and National on 22.2%, ASB on a just reduced 20.5%, BNZ on 22.2% and Westpac on a just reduced 21.15%. Kiwibank standard rate is 15.9%. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.