It will no longer be possible to earn Flybuys on a BNZ credit card from 28 August 2024 as the loyalty scheme winds down and BNZ transitions customers to its own BNZ Rewards programme.
Until recently, BNZ Advantage credit card holders could choose to earn either Flybuys or BNZ Rewards on their spending, but the latter rewards programme will soon be the only one on offer.
The change also impacts BNZ’s Flybuys-earning Standard home loan and PremierCare insurance products. However, customers with these products will still be able to earn Flybuys until 31 October.
How BNZ Rewards compares with Flybuys
While some might miss Flybuys, BNZ Rewards is the more flexible scheme with a broader range of rewards.
Flybuys Points can be redeemed through the online Flybuys Store, although the range of products is limited and it is usually easy to find lower prices elsewhere. It’s also possible to purchase gift cards from a select range of providers, book travel with helloworld Travel, or swap Flybuys points for either New World Dollars or Pumped fuel discounts.
BNZ Rewards points can be redeemed for a similar range of rewards, but of arguably higher quality. For example, BNZ Rewards’ gift cards include Farmers, iTunes, JB HiFi, Uber Eats, and more. The Flybuys options are a little more niche, including brands like Hunting & Fishing, iSubscribe, and Hammer Hardware (among a smaller range of larger brands).
BNZ Rewards points can also be transferred to the loyalty schemes of several other travel partners such as Emirates, Qantas, and Wyndham.
Finally, BNZ Rewards can be redeemed for cashback which is paid directly into the cardholder’s account.
Which credit cards earn BNZ Rewards points?
The bank currently offers two cards that can earn BNZ Rewards points:
- Advantage Visa Classic: Every $1 spent earns 1 BNZ Point. The card comes with a $40 annual fee and at the time of writing has a purchase interest rate of 20.95%.
- Advantage Visa Platinum: A step up from the Visa Classic, every $1 spent on the Advantage Visa Platinum earns 1.67 BNZ Points. The card has an annual fee of $90 and a 18.95% purchase interest rate at the time of writing. The card also comes with international travel insurance that can cover cardholders for up to 90 days.
Find out how the BNZ Advantage cards compare with other rewards credit cards in our guide.
Flybuys scheme to close at the end of the year
Loyalty New Zealand, the company that runs the Flybuys loyalty scheme, announced back in May that it would wind down the programme at the end of 2024, citing changes to the “landscape for loyalty programmes”.
The scheme has been running in New Zealand for almost 30 years but has not been able to match the popularity of other offerings such as Air New Zealand’s Airpoints programme. As a result, the number of members has fallen sharply in recent years.
Flybuys members will still be able to earn Flybuys until 11.59 pm on 31 October and can redeem them until the end of the year on 31 December. From that point, Flybuys points will expire and holders will not be able to redeem them or transfer them to another loyalty programme.
