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It’s all about the points, and only about the points, and that’s good news for dedicated Qantas Frequent Flyer points collectors who are sick of paying for bells and whistles they neither need nor want. The ANZ Frequent Flyer Credit Card lives up to its name, delivering Qantas points and little else, and in the process presenting one of the lowest annual fees for a rewards program card.
First year annual fee waived, but no mate’s rates after that
The very reasonable $95 p.a. annual fee has two components – a basic fee of $40 plus a rewards program service fee of $55 – and it’s waived completely in the first year. Plus you can have up to 3 supplementary cardholders to help you earn those valuable points. All good news so far. Unfortunately, after the first year waiver expires you’ll pay $65 ($10 + $55) for each and every additional card as well as the $95 p.a. for your own, so you need to be pretty sure your partner/child/parent is going to earn enough points to offset the steep cost. Even at an optimistic value of 1.5 cents per QFF point, each supplementary cardholder needs to spend $4,333 per year before they enter positive territory.
Most cards – even rewards cards – don’t charge for additional cardholders, so ANZ is going out on a limb with this high charge.
Big points boost to get you started
That’s all down the track in the second year, however, because at first it’s handout heaven, with 25,000 points injected into your account provided you spend$2,500 in 3 months. You could use the 25,000 points for three one-way economy flights between Sydney and Melbourne. You’ll need to be a new ANZ cardholder to qualify for the bonus points, not just switching from another ANZ card.
Complimentary Qantas Frequent Flyer membership
Qantas charge a $89.50 joining fee for new entrants to their frequent flyer program, but ANZ will pay this fee on behalf of a cardholder who is not already a member.
Reasonable points earning rate for a Visa card, but it’s capped
It’s a recognised fact that Visa cards don’t earn rewards points at the same rate as AmEx cards, and this is a stand-alone Visa card. The 0.5 points per dollar earning rate is also not as high as the scale offered by the ANZ Frequent Flyer Platinum and Black credit cards, but it’s realistic given the much lower annual fee for this card.
Unfortunately, there’s a very low $500 monthly points cap, after which the rate falls to a disappointing 0.25 pts per $1 spent. The fact that the minimum credit limit of $1,000 is double the amount of the cap makes it seem even more restrictive.
Bonus partner points
The fact that ANZ has organised a number of bonus point partners takes some of the sting out of the low cap. When you use your card to make purchases from these businesses you get an additional one point per dollar. This is on top of the standard 0.5 points automatically earned. The bonus partners are:
These bonus points are uncapped. You can still earn them when you have exceeded the monthly spend cap for regular purchases.
Standard interest rates
It’s a frequent flyer points card, front and centre, so there are no special interest rates or other financial inducements. There are Up to 44 days on purchases each month, not the more accommodating 55 days, and there’s no introductory interest-free purchase period or interest-free balance transfer option.
If you don’t pay off your purchase balance in full each month you’ll lose your interest-free days and start paying interest on the daily balance at 19.99% p.a. That’s a fairly typical credit card rate, and so is the 21.49% p.a. on cash advances.
Up-to-the-minute technology and security
ANZ Visa cardholders can take advantage of ANZ Visa payWave to make contactless purchases without a PIN for amounts under $100. ANZ’s goMoney app provides a way to manage your card account on your iPhone or Android. The card is also eligible for use with Apple Pay, Android Pay and ANZ Mobile Pay, to allow you to tap and pay securely with your smartphone or other mobile device instead of using your card.
ANZ Falcon monitoring offers constant protection against potentially fraudulent transactions, and worldwide emergency card replacement lets you travel with confidence.
Visa Entertainment the only complimentary benefit
The card comes with Visa Entertainment membership, giving you access to special events, entertainment packages and pre-sale concert tickets.
There are no complimentary travel, extended warranty or other types of insurance policy with this card.
Optional extra if you want to pay
ANZ has added a link on its card website to an optional extra that you actually have to pay for, making it more of a marketing exercise than a benefit. By paying a premium of 0.6% of your card account’s closing balance each month (that’s 60 cents per $100) you can get Credit Card Insurance to help you with repayment of your card account balance in the event of your serious illness or injury, involuntary unemployment, permanent disability or death.
A card for QFF enthusiasts
There’s no doubt that this is an ideal card for keen Qantas points collectors with an eye for cost effectiveness and no interest in other 'benefits’ they may not use. It’s a pared-back card with no nonsense about free insurance but plenty of tempting offers in the first year. However, after receiving the bonus points you’ll need to be prepared to see your points accumulate at only a moderate pace.
If you pay off your balance you can shop with no interest – keep a close eye on your account with internet banking and reap the benefits! It is convenient and safe to use wherever you go local or overseas, just keep track all the time with internet banking. I find I can book flights and accommodation when there is a special and then just budget to pay it off in full – so no interest charged! :)
ANZ have good customer service and are open 24/7. When you do call, you don’t have to wait for long to be connected. Customer service are to the point and very accurate information is given.
Firstly I’m telling you to forget about the way banks have educated us to use their bank accounts. It’s all a rort! They insist you must have an everyday (transaction) account in which you pay all your salary and income and then pay all your bills out of that same everyday account (which co-incidentally pays no interest and most likely charges fees on top). They insist you must have an access card in order to use EFTPOS or ATMs to pay for your shopping and make cash withdrawals from this same account and maybe write the odd cheque.
This is a good card that ears Qantas points, but it could have more features. Other cards have a higher annual fee, but more features. Most times I can get the fee waived or a loyalty bonus of the same or higher value. Customer service is friendly and helpful—I have never had any problems.
This is a good credit card with rewards. To make the most of the card you need to pay all the closing balance each month by the due date specified — great if you are disciplined.
Using the American Express card earns you more points, however not as many outlets take American Express.
i am really happy with our ANZ credit card. The rewards program is great and generous. i have used the frequent flyer points with Qantas already – nothing out of pocket at all.
The online account management is easy to use and navigate. The interest rates seem high though, but they are normal for a credit card with rewards.
We trust the card company, and it has a very high recognition and status internationally which we have found valuable when travelling. We like the fact that it dovetails with our other banking products too. Any problems are quickly resolved by phone conversations with staff or even at the local branch!
This card is accepted everywhere and I have great confidence every time I use it. I only use internet banking and find it really easy with this card. I earn frequent flyer points and generally accumulate enough points for a free flight every year just by using the card. They have great security, someone was “fishing” on my account and ANZ contacted me instantly and they cancelled my card and issued a new one on the spot.
We are going on a 15 day holiday to Cairns with frequent flyer points – air fares, hotels and car hire – it didn’t take long to accumulate either! Great!
Using AmEx builds points even faster. It is so much better than a debit card and so convenient. Online banking means I know my balances any time, any where, so I can keep track of how much I am spending.
This card, like any card, has its good and bad points, but as long as you pay it off before the interest kicks in it can be a great card. I use it to pay all my bills and pay it off monthly so I don’t get hit with any interest. I currently have enough points to fly to Europe a couple of times. Also, if you book flights with it, you get free travel insurance, which is great because I fly a lot.
Good card, secure, but fees for rewards program are quite high. ANZ is a good bank to bank with, and I do value the security and trust I have with the bank. I like to keep all of my accounts in the one place and have them conveniently linked together.
|Cash advances||1.79%||21.49% p.a.|
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
|Total estimated value||$18|
|Net customer value||$18|