How do I pay my credit card account?
You'll find all of our payment options here.
What is the ‘Modified Closing Balance’?
The Modified Closing Balance tells you the amount you need to pay in order to qualify for interest free days on general purchases. It includes the minimum monthly payment, any outstanding fees, non-promotional balances and any promotional transactions that will become interest bearing shortly.
The Modified Closing Balance is only a suggested payment to help you reduce the amount of interest you pay on your account. You must however pay the at least the minimum monthly payment, shown in the Latitude App or your statement by the payment due date.
How much do I have to repay each month?
Each month, we only ask you to pay 3% of your outstanding balance or $20 (whichever is greater). If you only pay the minimum monthly payment, you may not pay off your entire balance in that time.
When should I pay my account to ensure it's processed by the due date?
We will not treat a payment as being made until it is actually credited to your account.
Payments for your account should be received by the due date listed on your statement. Because processing of payments is often delayed on weekends and public holidays, it’s best to make your payment at least one working day (i.e. between Monday to Friday) before it is due to avoid any additional charges.
Payments made before 3pm NZST on business days will be processed on the same business day. Please allow up to three business days for the payment to show in your transaction history.
How are my payments allocated?
We automatically apply your payments in a way that helps reduce interest charges. Payments will go towards the plans currently incurring interest, then to the next plan due to incur interest – highest to lowest. If you change this, you may have outstanding balances when your interest free periods expire and begin to incur interest on those balances.
Paying the full or modified closing balance amount on your credit card statement each month is the easiest way to reduce unnecessary fees and interest, but we understand that it isn’t always possible. We want to make sure you understand how your repayments are applied to any outstanding balances on your account.
We’ll allocate your payment to the balances that are attracting the highest rate of interest and ensure any minimum monthly payments are met first.