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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.
ANZ Frequent Flyer allows you to live your life comfortably. Don’t dream of flying away from your bad credit and debts. Live grounded with ANZ, a big bank that allows you to dream big without compromising on essentials. Live a little, frequently.
ANZ has conveniently located ATM machines, branches and internet availability.
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!
I love that I get frequent flyer points for every dollar spent on my credit card. It’s like having an extra bonus that can be used in the future to offset my travel. It definitely gives ANZ the competitive edge.
I would recommend this card to anyone looking for a reliable credit card service.
1 point for every $2 spent, yearly fees over $100, and a short interest-free period. There are better rewards cards out there. The statements are mailed really late so it’s easy to miss a payment, and their online banking is difficult to set up. I think for the yearly fee there are better deals available.
I switched to this card on recommendations from ANZ staff, and found them to be very helpful. They explained the benefits of the switch and it was completed with minimal fuss. To my understanding, this card better suits my situation than my previous card. I wish I had consulted ANZ staff earlier to receive better value.
This is a good basic airline rewards card. It can be used everywhere and very accepted. It has average fees and charges, and when used for everyday purchases it is a good way of progressing towards a flight reward on things you’d be buying anyway. It is best if you pay the monthly account in full every month, otherwise the interest charged more than negates the rewards you accumulate.
I am very happy with the service given to me by my branch of ANZ and the credit cards they supply.
I always feel confident that they sill be accepted where ever I may be, even in other countries.
I find the fees charged are fair for the services received.
I have had this card for many years and as long as I pay the balance a few days before the due date, I don’t pay interest. I always make sure I pay well before the due date and don’t incur interest or late payment fees on my card ever.
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.
The interest is very good the service is always friendly and the payments are very fair they always try to fix any problems I am having with my card and if I need to I can always put my credit limit up I probably don’t use it enough to get many frequent flyer points
|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|