ANZ Frequent Flyer Platinum Credit Card

Offer
Card features
balance transfer
purchase rate
annual fee
Apply
65,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
Complimentary Qantas Frequent Flyer Membership.
Add to comparison
-
19.99% p.a.
ongoing
$0
1st year
then $295

Pros & cons

What's good?

What's not so good?

65,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
Complimentary Qantas Frequent Flyer membership, saving you $89.50.
Earn 0.75 Qantas Points per $1 spent on eligible purchases up to $3,000 per statement period.
Get complimentary Overseas Travel and Medical Insurance.
Dedicated personal concierge service available 24/7.
Google Pay™, Samsung Pay™ and Apple Pay let you use your compatible Android or Apple device to tap and pay.
The $295 p.a. annual fee is quite a commitment.
Interest rate on purchases of 19.99% p.a. is up there at the more expensive end of the range.
0.5 Qantas Points per $1 spent on eligible purchases above $3,000 per statement period.

Our review

Our review of the ANZ Frequent Flyer Platinum Credit CardReviewed by Yvonne Taylor

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 (for a stand-alone Visa card) in their points acquisition strategy.

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 (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 0.75 pts per $1 spent up to $3,000 then 0.5 pts per $1 spent Above $3,000. 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

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.

The other bonus partners offering an extra point per dollar are Hertz, Fone Zone, Stamford Hotels, Gold Coast theme parks Dreamworld and WhiteWater World, and ACE Insurance.

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

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 points 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 nearly halfway towards a return economy flight to London (120,000 points).

Setting your sights a little lower, you could get two return business class flights between Sydney and Melbourne by using the 65,000 points and spending $18,700 on the card.

The 65,000 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 spend $2,500 in 3 months in order to qualify.

Quantifiable first year fee savings

Many credit cards come with complimentary benefits to which it is difficult to attach a dollar amount. This card also falls into that category, but it does have two concrete benefits with more obvious savings. Firstly, if you are not already a member of the Qantas Frequent Flyer program, you will need to sign up before you can start earning points. This would normally cost $89.50, but ANZ will save you this amount by paying the fee on your behalf.

Secondly, the second year annual fee for this card account is $295 p.a. ($240 card fee + $55 rewards program fee). For each supplementary cardholder the normal fee is a rather pricey $65 ($10 + $55). But ANZ will waive all annual fees in the first year. So, if you needed to enrol in the QFF program and chose to have two supplementary cardholders, your savings in the first year would total $514.50. Not bad.

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 after the first year.

'Complimentary’ insurance cover

The remainder of the allegedly complimentary benefits are more difficult to qualify as being free of charge, and the savings are more difficult to measure. Since the 'free’ insurance policies in particular from 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:

  • Multi-trip overseas travel insurance for the cardholder and their immediate family, providing cover for emergency medical expenses, protection for luggage against theft, loss, damage and delay, compensation for travel delay or unavoidable cancellation, rental car insurance excess waiver of up to $5,000, and more.
  • Extended warranty insurance, doubling the manufacturer’s warranty up to a maximum of 12 months extra cover.
  • Transport accident cover, for travel on trains, buses, ferries and planes, in Australia or overseas.
  • Rental car collision excess cover in Australia, reimbursing up to $5,000.
  • Interstate flight inconvenience insurance, providing compensation in the event of holiday travel delay or unavoidable cancellation, plus loss or damage cover for luggage.
  • Purchase security insurance, covering personal items against loss, theft or damage for 90 days after purchase, with a generous $135,000 annual claim limit.
  • Best price guarantee scheme, reimbursing the price difference if you see an item advertised for a lower price within 21 days of purchase.

Overseas travel cover is activated by paying at least $250 of your 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 $800 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:

  • Visa Platinum Privileges (also known as Visa Premium) promises you a 24/7 concierge service for travel and entertainment recommendations and bookings, hotel discounts, and more.
  • Visa Entertainment offers access to exclusive ticket pre-sales, offers and competitions.

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% p.a., while the cash advance rate is 21.49% p.a.. There are, however, Up to 55 days on purchases each month, not the less accommodating 44 days, courtesy of the billing cycle.

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.

User reviews

3.7 out of 5.0 based on 39 reviews79% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Better options available

Reviewed and not recommended by Frank on 10 Jul 2016

This is a similar offer to those from other major banks, but with higher fees than a couple of similar cards. Bonus signup points are nice, but not enough to keep the card. In future I would go with someone offering lower fees, or a more personal / environmentally responsible bank.

Generally a versatile card

Reviewed and recommended by Mathi on 10 Jul 2016

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.

The ANZ app is terrible

Reviewed and not recommended by Kat on 20 Jun 2016

I got this credit card due to the frequent flyer points promotion that they had going at the time. I’m currently looking at changing as the fees you pay are huge and the service you get is poor. I had my cards stolen and they didn’t even cancel them after I had called them twice. It also takes about a week for transactions to show on your statement.

Good value with bonus points

Reviewed and recommended by John on 09 Aug 2016

Recommended if you are after a points booster for your Qantas Frequent Flyer account. All you need to do is make the minimum spend and points are awarded within 3 months after meeting spend.
Card comes with complimentary air lounge passes, PayPass, and Qantas points per $1 spent.
ANZ’s customer service is great.

Earn rewards for your everyday spending

Reviewed and recommended by James on 24 Oct 2016

The best part about this rewards card is that you are earning points for the money you were going to spend anyway. The helpful team at ANZ advised me to put all my cash into savings and to use my credit card for everything. At the end of the month all I need to do is pay the closing balance so I don’t pay any interest, and I’m earning heaps of points. Given the fact that the card has low fees, it’s a great way to earn something for your day-to-day spending.

The platinum card comes with an American Express and Visa card for different rates of earning points. I highly recommend this card.

Reliable and trustworthy

Reviewed and recommended by Mike on 19 Jun 2015

The reliability and back up service is excellent. I feel confident that the security behind the card operation is of the highest standard. I use the card and the service both locally and overseas with ease. I have found the internet banking system associated with the card can be hard to access at times. The phone app is also excellent.

Convenient and handy card

Reviewed and recommended by Michael on 16 Sep 2016

Very happy indeed with the card. It covers all our travel insurance and is extremely useful at all times. We have used it in England, Singapore, Darwin, Adelaide, Sydney, and wherever we go in Western Australia. It is just so convenient and handy.

I am so glad we have it and don’t believe I would be happy with a different one.

Free travel insurance

Reviewed and recommended by Doron on 24 Jun 2016

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.

ANZ saved me thousands acting on my behalf

Reviewed and recommended by Dale Ann on 24 Jun 2016

ANZ rang me twice shortly after they detected fraudulent use of my platinum credit cards. They quickly cancelled my account and refunded me the whole amount. The yearly fee I have to pay is much lower than any other banks. I use my cards to receive Qantas frequent flyer points.

Great for travel insurance

Reviewed and recommended by Henry on 19 Aug 2013

ANZ Platinum Visa card has excellent overseas travel insurance if you pay part of your travel costs with this card, you must pay at least $250 to activate travel insurance, highly recommended. The only negative is that you must spend $2 on your card to get 1 frequent flyer point,not very enticing.

Show 29 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$35,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Qantas Frequent Flyer
Temporary residents
Yes

Cardholders

Additional cardholders
9
Additional card fee
$65 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$0 p.a.
Annual fee 2nd year
$295 p.a.
Cash advance fee
2%
Dishonour fee
$6
Duplicate statement fee
$0
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$20
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$0
Overseas emergency card replacement fee
$0
Transaction verification fee
$0

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Earn rates

Spend typeSpend
Airline spend
Up to $3,000
0.75 pts per $1 spent
Above $3,000
0.5 pts per $1 spent
ResetN/A
Points capN/A

Rewards program basics

First purchase bonus
65,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$2,500 in 3 months

Earning points with this card

Frequent flyer points
0.75 pts per $1 spent up to $3,000 then 0.5 pts per $1 spent Above $3,000
Overseas earn rate
Same as standard earn rate
Points cap per month
N/A
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
N/A

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,391

ShoppingEstimated value
Extended warranty
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.
$50
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.
$10
Purchase protection
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.
$40
Travel
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
$290
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
$32
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
$18
Total estimated value$1,391
Annual fee$0
Net customer value$1,391
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $35,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Veteran's Pension are acceptable.
Overseas Pension and Widower's Pension are not acceptable.
Carer's Allowance, Child Support Payments and Family Tax Benefits and Parenting Payments are acceptable.
Austudy, Foster Care Allowance and Youth Allowance are not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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