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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 App provides a way to manage your card account on your iPhone or Android. The card is also eligible for use with Apple Pay, Google 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.
Never had a problem. Get good frequent flyer points. It is also linked to an American Express Catd which is Ok if used where surcharge does not apply – get more frequent flyer points. American Express Card only free of surcharge at Supermarkets – Coles and Woolies and at Shell service Stations. No good in restaurants and Caltex petrol statiosn
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.
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.
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.
I don’t like high fees, but I do like rewards. How else could I have built up over 200,000 Qantas Frequent Flyer points without doing anything else but use my frequent flyer credit card and a few flights? I don’t need anything else to get me flying further.
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 have been a customer for 17 years, having joined soon after I became a Qantas Frequent Flyer. In that time the ANZ have alerted me to its fraudulent use overseas, which I greatly appreciated. Any phone inquiries have been answered with courtesy and I have been pleased with any resolution.
There is a high annual fee, but the QFF points are invaluable and have afforded me a free flight from Adelaide to Hobart for two adults each year. ANZ are particularly proactive with regards to security—they send an SMS text when suspicious activity is detected on your card. This has occurred three times since I got the card eleven years ago, and ANZ have been outstanding in handling it each time.
Rewards are achievable unlike other cards where u have to spend a fortune to get a small item. U can either buy an item or fly somewhere. We go traveling every 3 years and have bought items like an iPad. It’s a great reward to get free gifts.
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.
|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|