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Shrewd frequent flyers like to plan well ahead to secure award flights, often booking overseas air travel twelve months in advance in order to maximise the options available. This means they need to earn their Qantas Frequent Flyer Points with a degree of certainty and as quickly as possible, and the ANZ Frequent Flyer Platinum Credit Card offers them both assurance and a reasonable speed in their points acquisition strategy, as well as a significant bonus points and cashback boost in the first year..
Acceptable points earning rate but rather restrictive cap
The 0.75 QFF points per dollar earning rate for this card is reasonable for a Visa card, which is accepted almost everywhere, often without a surcharge (unlike Amex cards).
Unfortunately there is a points cap, limiting to $3,000 the spending on which you can earn the full 0.75 points per dollar in any monthly statement period. After $3,000, the earning rate drops to 0.5 points per dollar. Since you are likely to put as many of your purchases as possible through the card in order to maximise points earning, you may find yourself running into the threshold several times per year.
Earn regular bonus points with Qantas
One way to earn extra points while avoiding the cap is to do your travel spending through Qantas. ANZ has partnered with Qantas and other bonus partners in order to offer cardholders one extra QFF point per dollar spent. This means that you will get 1.75 points per dollar for spending with these businesses (or 1.5 points per dollar if you’ve exceeded the $3,000 threshold). Qualifying Qantas products include flights, Qantas Frequent Flyer and Qantas Club membership fees, and Qantas holidays.
There is no cap on the number of bonus points you can earn, so it makes sense to look for opportunities to earn them.
Substantial 65,000 points first purchase bonus
When you first start to collect QFF points, or when you’re saving them for a big overseas trip, the rate at which the balance grows can seem infuriatingly slow. But ANZ’s 'welcome aboard’ bonus of 65,000 QFF points will soon lift your points total out of the doldrums and should renew your enthusiasm for collecting them. After all, 65,000 points puts you more than halfway towards a return economy flight to London
Setting your sights a little lower, you could get two return business class flights between Sydney and Melbourne or Brisbane for 64,000 points.
The 65,000 bonus points are only available to new cardholders (which means you can’t have held any other ANZ card in the previous 12 months) and you’ll need to make at least one purchase on the card, however small, in the first three months in order to qualify.
$150 cashback reduces the first year annual fee
The first purchase you make during the first three months also has another substantial benefit in the form of a $150 cashback to your account. The annual fee for this card account is $295 ($240 card fee + $55 rewards program fee), so the cashback effectively reduces the annual fee to $145 in the first year.
For each supplementary cardholder the normal fee is a rather pricey $65 ($10 + $55). You can in fact have as many as nine additional cards issued on the account, which in theory is a great way to get the points rolling in. But very few primary cardholders will have time to keep under control the spending activities of nine extended family members, not to mention the high cost of these cards.
Complimentary insurance cover
Since the complimentary insurance policies in particular form the main point of difference between ANZ’s standard frequent flyer card and this platinum version, there must be a strong correlation between the provision of the insurance cover and the extra $200 charged for the platinum card’s annual fee. However, since there are seven types of insurance policy automatically delivered with this card, an extra $200 seems pretty reasonable. Here are the policy outlines:
Overseas travel cover is activated by paying at least $250 (for each person to be covered) of the trip’s travel, accommodation or tourist activity cost, in advance, using the card. To obtain transport accident and interstate flight inconvenience cover, you must pay for the full fare using your card. The remaining policies require you to have used your card to pay the total purchase price of the insured items.
ANZ say that the overseas travel insurance alone is worth $775 every year, but of course you need to be travelling overseas at least once a year for this to be true. It is in fact possible to buy an annual multi-trip policy without major destination exclusions for as little as $430, but the cover may not be as extensive as the apparently very comprehensive insurance provided with the card.
Other built-in benefits
Most platinum cards have a list of possibly rarely-used lifestyle extras available to cardholders, and this one is no exception. But it’s certainly worth a look at what’s on offer:
Predictable interest rates
With an emphasis on frequent flyer points and a very extensive range of insurance, this card was never going to be about low interest rates, or interest-free introductory periods on purchases and balance transfers. You’ll get none of these, because ANZ seem to have assumed, probably correctly, that anyone interested in paying for a platinum card is going to settle their monthly account balance in full nearly all of the time.
So the interest rate on purchases is an unsurprising 19.99%, while the cash advance rate is 21.49%. There are, however, up to 55 interest-free days on purchases each month, not the less accommodating 44 days, courtesy of the billing cycle.
Other Visa or Mastercards offering 0.75 QFF points per dollar, or more
If collecting Qantas points as quickly as possible is your aim, you’ll want to consider this card alongside Visa competitors offering the same or higher earning rates. 'n our Qantas page in our Features section you can compare this card with the HSBC Platinum Qantas Credit Card, the Westpac Altitude Black Credit Card and the NAB Qantas Rewards Premium Card, as well as many others.
A traveller’s card
Anyone collecting Qantas Frequent Flyer points with the aim of travelling overseas will particularly appreciate the ANZ Frequent Flyer Platinum Credit Card. The first purchase bonus gets your points balance off to a flying start, and the ongoing earning rate and Visa’s wide acceptance means that you’ll achieve your goal more quickly, with high quality travel insurance to cushion any problems you might experience when you eventually get away. The annual fee is a significant commitment, but the first year cashback makes it less expensive to try out to see if it is a good fit for you.
ANZ Frequent Flyer rewards program was free upon signing up but then a fee was charged every year after that. Good if you can pay it back every month, otherwise it becomes expensive. Great online banking to track repayments.
I have had and used this card for quite some time now and find that it best suits my needs. Furthermore, it is easy to use and has a good range of rewards on offer. The annual fee and charges are competitive and the number of interest-free days is very substantial.
I’m pleased with this card, but not with an annual cost of $350! It’s worth it if you want to get points on all your everyday purchases, for flights or other rewards. It’s good if you want a higher credit limit.
I have generally been satisfied with ANZ Visa, and had good customer service from them.
I have had my ANZ Frequent Flyer Platinum for 3 years now. I take advantage of the interest-free period as often as I can, but make sure to always pay off the whole amount. It’s nice to know that I can access credit whenever I need it. I have had no problems with this card, hence I have had no reason to access any help desk, so I can’t comment on how good this feature is.
I have racked up enough points for a free flight to Las Vegas next month, so I can have a break from the current cold weather.
I would recommend this card for the amount of points you can earn towards a free flight.
Every dollar spent on this card earns you points, transferable to anything you wish.
The upfront cost is high, but is easily covered by rewards during the year. Qantas points can be used at the Qantas site or for groceries, electricity, flights, clothes, hardware, gift cards, kitchen appliances and virtually anything you can think of.
I took this originally for the Qantas points and used it only the once because there was always too much involved in getting flights etc. I would like to find a better alternative, but it’s feels like a minefield. And it’s never the right time to look into it or I just don’t have the time – not lazy, just frustrated.
The service I get from ANZ is fantastic the only complaint that I have is the annual fees other wise its all good. I can use either of my cards in most shops and have never had anyone scam me. I find that I budget better with a credit card then before I had one. It gets paid off every month so I don’t pay any interest and still don’t spend more then I can afford.
I feel the rates and fees are a little pricey with this card, however if you choose ANZ’s break-free mortgage package, your fees ($295 year) are waived.
The beauty of Paywave and the fact most big retailers take AmEx means more rewards: 1.5 points per dollar spent is awesome! As long as you pay off your balance within the 55 day interest free period, it’s a win for you.
Love the fact ANZ fraud squad is always on their toes. It can be a little inconvenient sometimes when you place a new online order that is different to the norm. But if you’re like me, you would rather a little inconvenience knowing they have your back at all times.
This card includes travel insurance which is comprehensive. For this reason I do not need to take additional travel insurance when travelling overseas. It also offers Qantas Frequent Flyer points on all shopping, which accumulates quickly. The card offers usage of lounges in international airports, but I had bad experiences using it overseas. The information provided by the bank was useless and thus I never benefitted from this feature.
Very pleased with this card: good rewards system, very quick to replace lost cards, and customer service is always prompt, efficient and helpful.
In particular they are quick and responsive to purchases that have been queried or are invalid, and the correction is always carried through without undue questioning or delays.
|Cash advances||1.79%||21.49% p.a.|
Up to $3,000
0.75 pts per $1 spent
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||$1,096|