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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, after the first year
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 $425 p.a. per year. For each extra cardholder, add a further $65 ($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 $32,000 spend (less if some of that spending is with Qantas) and saving you at least $1,620 (excluding any additional charges).
Uncapped points earning
This is a stand-alone Visa card, and even for a Visa the ongoing earning rate is not exceptional, given the size of the annual fee. However, although there’s a points threshold, beyond which the earning rate decreases, there’s no overall points cap. It’s ANZ’s most rewarding Qantas Frequent Flyer card.
The earning rate is:
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, which include:
The benefits aren’t confined to the first year. You’ll get these additional complimentary privileges for holding the card, every year:
There’s no getting around the steep annual fee in the second and subsequent years 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.
This card is meant for…
... QFF points collectors who prefer the global acceptance of a Visa card, in contrast to the lower acceptance rate and higher surcharges attracted by an American Express card. The substantial bonus points and annual fee waiver make the card particularly attractive in the first year, while regular travellers are likely to consider that the lounge passes, lounge membership and complimentary insurance more than offset the annual fee in subsequent years.
I am an ANZ customer and recently changed over from the rewards program to the frequent flyer program. New customers received a bonus for joining, existing customers get nothing for their loyalty. Not only that, I got slugged with card fees of $165.00. I was advised by an ANZ operator that due to the paid breakfree package I was on with ANZ, I would not incur any fees to change my card over. I have now sent numerous emails via my online account and receive only generic responses. I would have been better off changing my card over to the NAB loyalty program. Existing ANZ customers beware before changing card programs and get everything in writing prior as ANZ do not honor the information operators give. In a nutshell, the additional fees negate the frequent flyer program. Existing ANZ customers beware!
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.
This is a great credit card with a good points earn rate for each transaction and also comes with a companion AmEx. There are excellent bonus point offers available throughout the year and free annual membership deals, so keep your eyes open for these. Easy online account management and the app is also great. Excellent freebies. Highly recommended.
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’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 signed up for 75,000 sign up bonus QFF points with the first year’s annual fee waived and have already claimed the annual set of complimentary lounge passes. I found the application and service excellent and very streamlined.
The annual fee is very expensive, but you need to weigh it up against the points you get, which I think are market-leading. Overall, I would recommend this card.
I use the AmEx card as often as I can due to the extra points earned with it. It’s nice to have the dual cards so one can be kept as back up. The services offered are pretty great and I received 50,000 bonus points just for opening an account and the first year’s annual fee was waived.
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 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.
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.
|Cash advances||1.79%||21.49% p.a.|
Up to $7,500
1 pt per $1 spent
per statement period
0.5 pts per $1 spent
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|