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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.
Low annual fee for a Qantas points card
The very reasonable $95 p.a. annual fee has two components – a basic fee of $40 plus a rewards program service fee of $55. Plus you can have up to three supplementary cardholders to help you earn those valuable points. All good news so far. Unfortunately, you’ll pay $65 p.a. ($10 + $55) for each and every additional card as well as the $95 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
Even if you do need at least one supplementary card, the cost is more than covered in the first year by the 25,000 points you’ll receive, provided you make at least one purchase, no matter how small, during the first three 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 an $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 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 additional points per dollar. This is on top of the standard 0.5 points automatically earned. The bonus partners include Qantas, where you’ll earn an extra 1.0 points per dollar spent on flights, Qantas holidays and QFF and Qantas Club membership.
There are other bonus partners, which change from time to time, and ANZ will inform you who these partners are and keep you up-to-date as they change. 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, Samsung 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.
Similar cards to consider
The Qantas American Express Discovery Credit Card offers QFF points without charging a steep annual fee. The NAB Qantas Rewards Card has features and costs similar to this ANZ card. Compare these and other Qantas cards on our Qantas page.
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 tempting bonus points 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.
I like the frequent flyer points I can earn, but the interest rate is a bit high. It is convenient as it is accepted everywhere and makes internet shopping easy. I first got it for use when I travel overseas. I’m not sure about the pay wave system, could be easy to use if stolen.
We appreciate the opportunity to amass frequent flyer points through our credit card spending. We have especially appreciated having the American Express card as well as the Visa. We would prefer to pay less for our annual card fee. We were glad they allowed us to hold this card account while living in Papua New Guinea as missionaries. Some other institutions would not allow us an account.
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.
I have had this card for over 10 years and it works for me. I have accumulated sufficient points for several Aussie adventures. It has never been refused on overseas trips or here in Australia. Replacement when lost was easy and quick.
I am considering looking around to see if I can find a better deal which will give me at least 1 point for every dollar spent instead of the 1 point for each $2 spent, but I still want it to be a Qantas rather than Virgin-linked card.
I pay the balance each month so the interest rate is of lesser importance, though certainly it is unreasonably high.
It’s a good card with great perks (travel insurance is great). I’ve been using this card for many years now and have always been happy/impressed with the ease of use and quality of service.
Accumulating frequent flyer points is easy and very useful due to travel arrangements. ANZ has been reliable in their service and I’ve not had any issues when using the card/accessing the account. The fee is reasonable for the service you are getting.
Great that I can use one card and get my flyer miles at the same time so no need to carry extra cards for bonus points and no need to get an extra card out of my wallet when paying for things! All the frequent flyer points go straight to my Qantas frequent flyer points and I can spend them any way I choose.
I find ANZ to have the best service in all banking areas, including their credit cards. The staff are helpful and their cards offer great benefits with the Frequent Flyer package. I took the time to read the promotional booklet that came with my card and was amazed at all the other benefits that come with it.
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.
I feel that this credit card is really good and does what I need. It allows me to accumulate frequent flyer points, so I am closer to going on a holiday in the sun away from the cold this winter. The travel insurance that comes with it saves me heaps of money as well.
Great intro bonus and low apr on balance transfer. Then you are stung with over 20% if using the card. Keep it in credit and use it for points. Takes a while to come through though! Just like any other Visa/MasterCard really except with a monster apr once you actually use and owe money on the card.
|Cash advances||1.79%||21.49% p.a.|
Up to $500
0.5 pts per $1 spent
0.25 pts per $1 spent
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
|Total estimated value||$18|
|Net customer value||$-77|