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ANZ Frequent Flyer Black Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
75,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
Get 2 complimentary Qantas Club lounge invitations each year.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
1.5 pts
per $1 spent
75,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

75,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
Get 2 complimentary Qantas Club lounge invitations each year for use when flying on Qantas or Jetstar.
Unlimited access to participating airport lounges outside Australia, through Velocity.
The points earn rate ratio on the Amex companion card is a very healthy 1.5 pts per $1 spent.
Use your ANZ Frequent Flyer Black card to purchase your Qantas Club Membership and save up to $475 in your first year of membership.
A range of complimentary insurances for travel and purchase.
ANZ Mobile Pay and ANZ with Apple Pay let you use your compatible Android or Apple device to tap and pay.
The second year annual fee is a rather sizeable $425 p.a.
The points earn rate ratio on the Visa card is only 0.75 pts per $1 spent.
The American Express card can have surcharges applied by some retailers, utilities and businesses.

Review

Our review of the ANZ Frequent Flyer Black Credit Card

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.

Ongoing benefits

  • Qantas Club annual membership fee discount: The dollar value of the continuing Qantas Club discount is not specified, but it appears to be at least $70 ($455 minus $385).
  • Two Qantas Club lounge passes per year: You can use the worldwide Qantas lounge facilities twice each year (or extend the privilege to a friend if you’re already a member) with these complimentary passes. They trade on Gumtree for around $60 each. (Small print alert. You need to be on a Qantas or Jetstar flight in order to use the pass, and you must order it four weeks in advance and wait for it to arrive by mail.)
  • Additional points on Qantas purchases: You’ll earn one additional point per $1 spent on Qantas flights, QFF joining fees and Qantas Club joining and annual fees. (Small print alert. You won’t get the extra points for Jetstar flights or Qantas holidays, and you need to purchase directly from Qantas, not through a travel agent.)
  • Unlimited access to Veloce lounges overseas: You can still enjoy lounge access at overseas airports without being a Qantas Club member. Just show your ANZ Frequent Flyer Black credit card and your flight ticket in order to be admitted to lounges like the Servisair Executive Lounge at Heathrow Terminals 1 and 3, or the Airport Wellness Lounge and Ambassador Lounge at Singapore Changi. The frequent flyer community says that the standard of Veloce lounges is variable.
  • Extensive, money-saving insurance cover: The card comes with the following types of insurance cover, free of charge every year:
    • Top-of-the-range QBE multi-trip international travel insurance, covering medical expenses, theft, loss and damage of property, car rental excess and more. ANZ says you can save up to $800, and it’s certainly true that even a basic policy could cost $450. (Small print alert. You must use the card for at least $250 of each trip’s cost to validate the insurance cover, but that’s a low amount compared with other cards.)
    • Interstate flight inconvenience – flight delay, luggage delay, personal property cover, car rental excess.
    • Transit accident cover.
    • Extended warranty – doubles manufacturer’s warranty, up to 12 additional months.
    • Purchase protection – 90 day cover on purchases against loss, damage and theft.
    • Price protection – price difference refunded if you find items (purchased with the card) cheaper elsewhere within 21 days.
  • Personal concierge service: Anyone contemplating a black credit card might well find value in the complimentary concierge service for assistance with travel, entertainment and restaurant bookings, although it’s not made clear who the service provider is, with just a contact phone number and no website link. However, the card does also come with admission to AmEx entré, and its world of luxury hotels, fine dining and privileged access to major international sporting and entertainment events.

The downsides

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.

Competing cards

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.

User reviews

3.6 out of 5.0 based on 15 reviews80% of reviewers would recommend this card.

Rates and fees
Rewards
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Convenience
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Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

Great card, but is it worth it?

Reviewed and not recommended by Sacha on 08 Dec 2016

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.

Points earned are better then other credit cards

Reviewed and recommended by Esther on 27 Sep 2016

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.

Ignored notification that I was travelling

Reviewed and not recommended by Joe on 25 Sep 2016

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.

Love the points for everyday spending

Reviewed and recommended by Rosie on 20 Sep 2016

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.

High fees, but high rewards

Reviewed and recommended by Bikram on 20 Sep 2016

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.

Happy with the card

Reviewed and recommended by Samantha on 13 Jul 2016

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.

Premium rewards credit card

Reviewed and recommended by Bikram on 03 Jul 2016

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.

Love the points for every day spending

Reviewed and recommended by Rhonda on 01 Jul 2016

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.

A good middle of the road card

Reviewed and recommended by Geraldine on 01 Jul 2016

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 get a lot of frequent flyer points

Reviewed and recommended by Drew on 01 Jul 2016

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.

Show 5 more reviews

Basic details

About this card

Card setup
Dual Card
Card tier
Black
Card type
Visa & AmEx
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$75,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Qantas Frequent Flyer
Temporary residents
Yes

Cardholders

Additional cardholders
9
Additional card fee
$65 p.a.

Credit limits

Minimum credit limit
$15,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase Rate
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$0 p.a.
Annual fee 2nd year
$425 p.a.
Cash advance fee
2%
Dishonour fee
$6
Duplicate statement fee
$0
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$20
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$0
Overseas emergency card replacement fee
$0
Transaction verification fee
$0

Rewards

Where will your points take you?

Points:
 
Trip:
Origin:
    Rewards program:
      Class:

        Cool stuff you can get with your points

        Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

        Rewards program basics

        First purchase bonus
        75,000 points
        Reward points expiry
        Never as long as you keep your account active
        Rewards program
        Qantas Frequent Flyer
        Spend required for bonus points
        $2,500 in 3 months

        Earning points with this card

        Frequent flyer points (amex)
        1.5 pts per $1 spent
        Frequent flyer points (visa)
        0.75 pts per $1 spent
        Overseas earn rate (amex)
        Same as standard earn rate
        Overseas earn rate (visa)
        Same as standard earn rate
        Points cap per month (amex)
        Unlimited
        Points cap per month (visa)
        Unlimited
        Points cap per year (amex)
        Unlimited
        Points cap per year (visa)
        Unlimited
        Reward points (amex)
        1.5 pts per $1 spent
        Reward points (visa)
        0.75 pts per $1 spent

        Additional benefits

        Airport lounge access
        Yes
        Complimentary flight voucher
        No
        Concierge service
        Yes

        Benefits

        This card comes with benefits worth an estimated $1,391

        ShoppingEstimated value
        Extended warranty
        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.
        $50
        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.
        $10
        Purchase protection
        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.
        $40
        Travel
        Interstate flight inconvenience insurance
        Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
        $290
        Overseas travel insurance
        Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
        $801
        Rental vehicle excess cover (separate from travel insurance)
        Valuation based on similar rental vehicle excess insurance policies available online.
        $32
        Transit accident insurance
        Valuation based on similar global transit accident insurance policies available online.
        $150
        Waived Qantas Frequent Flyer joining fee
        Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
        $18
        Total estimated value$1,391
        Annual fee$0
        Net customer value$1,391
        Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

        Minimum criteria for this card

        What you need before applying

        Be over 18 years old
        You are a resident or citizen of Australia
        Earn a regular income of more than $75,000 per year
        Have a good credit history
        You have your personal details ready to complete the online application
        Have not applied for multiple credit cards recently
        Joint applications are not allowed
        Temporary residents are eligible
        Age Pension, Disability Pension and Veteran's Pension are acceptable.
        Overseas Pension and Widower's Pension are not acceptable.
        Carer's Allowance, Child Support Payments and Family Tax Benefits and Parenting Payments are acceptable.
        Austudy, Foster Care Allowance and Youth Allowance are not acceptable.
        Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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