Got your specs handy? The ANZ Frequent Flyer Black Credit Card comes with the extensive suite of member benefits you’d expect from a prestige black card with a mammoth annual fee, but you’ll need to be all over the small print to make sure you extract the maximum advantage for the extra dollars you pay.
What you will pay
This is one of the more expensive premium rewards cards, but the good news is that ANZ will waive all annual fees in the first year.
After that, the annual fee has two components, the $370 card fee and the $55 rewards scheme fee, adding up to $0 p.a. per year. For each extra cardholder, add a further $65 p.a. ($10 + $55). It’s pricey to say the least, but justifiable if you can spend enough each year to score, say, a business class return from Sydney to Melbourne – 32,000 points, requiring a $21,333 AmEx spend and saving you at least $725 (excluding any additional charges).
Two cards, two points earning rates
You do get two cards – AmEx and Visa – for your money, allowing you to take advantage of a higher points earning rate on AmEx purchases (a generous 1.5 pts per $1 spent, uncapped), with the Visa card (0.75 pts per $1 spent) providing a handy backup when retailers add a merchant fee to AmEx purchases or just decline to accept the card. Even if the AmEx merchant fee is as low as 1%, it still exceeds the monetary value of the extra points, but most major retailers and restaurants do accept AmEx without charging a fee.
First year benefits
It’s not difficult to justify having this card for the fee-free first year, especially given the other sign-up benefits.
For a start there’s the 75,000 points to accompany your first $2,500 in 3 months of holding the card. (Small print alert. You won’t get the bonus points if you already have, or have had within the last six months, any kind of ANZ Frequent Flyer credit card.)
If you’re not already a member, ANZ will pay your QFF joining fee, saving you $89.50. Even better, if you use your card to pay for Qantas Club membership, your $385 joining fee will be waived and you’ll also get a discount on your first year’s membership, which ANZ say will save you up to $475.
There’s no getting around the steep annual fee and the high ongoing purchase interest rate of 19.99% p.a., but holders of black cards don’t usually plan to rack up interest-bearing credit card debt.
You also have to be sure that you want QFF points, because there are no options to earn, or transfer to, any other type of reward or airline points.
If you find the $0 p.a. annual fee too much to swallow, consider the ANZ Frequent Flyer Platinum Card instead, with a $0 p.a. annual fee but a lower Visa points earning rate (0.5 pts per $1 spent). NAB, Bankwest, Commonwealth and HSBC also offer cards directly linked to the QFF program.
This card is meant for…
Frequent flyer points collectors who are sure they want to stay with Qantas will be attracted by the high AmEx points earning rate and the range of bonus points and discounts, particularly in the first year, easily offsetting the high annual fee.
I signed up for this card primarily for the bonus frequent flyer points offer, and also the high ongoing frequent flyer points earning. The first year’s fee was waived, and thankfully, because it’s $425 per annum and the interest rate is high. That’s when you have to question whether you will earn enough points to offset the fee, and frankly I’m not sure paying that much in fees is worth the earn rate. There aren’t many other benefits that will result in me retaining the card beyond the 12 month mark.
I have had two major interactions with ANZ customer service regarding the card, and both have been fantastic. ANZ also have Apple Pay, which is a bonus.
Overall, I do not believe the card is worth the annual fee.
I cancelled CBA Platinum credit card as this one was miles ahead with points per dollar, and the extra benefits such as being able to go into the Qantas lounge, etc, are excellent. The insurance is better and many other options are given.
The only downside is that, after the first year being free, the annual fee is crazy, so we plan to leave before getting stung, unless we can get this waived.
I am unimpressed with the recent poor service from ANZ while I was overseas recently in the US. I notified ANZ of my trip prior to leaving. However, they blocked my card on two occasions due to not realising I was overseas at the time, even though I had told them. I called using my mobile phone, which incurred roaming costs which they refused to reimburse. I have taken steps to cancel this card and never bank with them again.
I’ve earned a few free flights out of using our credit card for everyday spending. We put all of our spending on the card, then put our pay straight on it to avoid paying interest. It works a treat!
It’s a little annoying that you earn the main points using AmEx since not many places take it without surcharge, so if you aren’t careful it could end up costing lots more than it’s worth.
This is a credit card with initial massive frequent flyer points and travel insurance, but with very high annual fees. The annual fee is waived for the first year, and so one can get the frequent flyer points and then cancel.
It’s suitable for high spenders or those seeking high rewards. The card is part of my ANZ Breakfree package and in my case has no annual fees.
Good card. You receive 2 cards (both a Visa and American Express), which means it is accepted at most places. Fees are a little, but there’s good points earning for Qantas Frequent Flyer. I would recommend. Overall, I am very happy.
ANZ Black Frequent Flyer is a premium credit card suited mostly for frequent air travellers with air lounge passes and travel insurance included. The card also comes with 75,000 worth of Qantas Frequent Flyer points, which is equivalent to around $750 in gift cards.
I quite like earning frequent flyer points for everyday spending, although the annual fee is pretty high so you really have to use it lots for the points to be worthwhile. The AmEx companion card gets more points, but I often find there’s a surcharge for using it or it isn’t accepted. The Visa doesn’t give many points at all.
I’ve had this card for years and during that time it has changed from blue to gold to platinum to black. There may be better deals around, but I can’t be bothered to keep changing and I’m happy with this one.
I don’t really keep track of my frequent flyer points, so it is always a delight—like in November—when I can go and see a friend in Melbourne and fly more or less for free.
ANZ is solid and reliable—as much as any bank anyway—at one stage they told me about weird activity on my card in Europe and quickly replaced it.
I have this card purely for the Qantas Frequent Flyer points. It’s expensive, yes, but I feel the benefits outweigh the cost at this stage. The main reason I first got attracted and ended up choosing this card was for the 75,000 bonus points that were on offer. Also there are other benefits like free entry into airline lounges—domestically and internationally—and having no annual fee in the first year.
I am happy with this card at this stage.
|Cash advances||1.79%||21.49% p.a.|
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
|Total estimated value||$1,391|
|Net customer value||$1,391|