BNZ launches online credit card calculator

BNZ launches online credit card calculator

The amount of time it takes to pay off your credit card will become much clearer with the launch of BNZ’s innovative credit card calculator, available on the bank’s website today.

The new tool, which goes live this afternoon, allows customers to see how long it will take them to repay their outstanding balance, as well as how much their total interest payments will be, based on different levels of repayment.

BNZ Chief Operating Officer, Retail Glenn Patrick says the tool marks an important move for the New Zealand banking industry, and is a responsible step forward in providing additional clarity to customers on their credit card spending and debt management.

“This new calculator has been made with the customer in mind and allows us to provide them with information on the costs of using their credit cards. It’s important for our customers to understand the cost and length of time it takes to pay back credit cards especially when only making minimum payments.

“We aim to be as transparent as possible and leave no costs hidden or unexpected. We want to provide our customers with as much information as possible, so they can make the best financial choices dependent on their own situation and ensure they have the most appropriate products available to them.”

The credit card calculator can be found at www.bnz.co.nz/repaymycard and is available for use from this afternoon.

ENDS

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