The ANZ Platinum credit card comes with a low annual fee (waived in the first year) and complimentary insurances, but keep in mind this card doesn’t earn any frequent flyer or rewards points. It is marketed by ANZ as a ‘simple everyday credit card’, but it still offers a reasonable set of perks.
Promotion: $300 back and $0 annual fee in the first year with the ANZ Platinum credit card
The current offer is $300 back and $0 annual fee in the first year for new cardholders who apply for the card, are approved and spend $1,500 on eligible purchases in the first 3 months from approval.
An annual fee of $87 p.a. will be charged in subsequent years unless you spend $20,000 on the card in the preceding 12 months.
Eligible purchases cover most transactions, with the normal exclusions of fees, cash, cash equivalent transactions, balance transfers and transactions for gambling or gaming. New card. T&Cs, eligibility and spend criteria, fees and charges apply (including an annual fee, $0 for the first year, currently $87 thereafter).
Card Details: ANZ Platinum credit card
|Card||ANZ Platinum credit card|
|Points earned from spend||N/A|
|International transaction fee||3%|
|Mobile Wallet||Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay|
|Annual fee||$0 for the first year; $87 in subsequent years unless you spend $20,000 on eligible transactions within 12 months.|
Effective Frequent Flyer Program Point Earn Rates
This is not a rewards credit card, so no points are earned on transactions. However, it comes with Visa Entertainment perks and offers including discounts at retailers.
Complimentary shopping and travel insurance included
The main feature of the ANZ Platinum credit card is the whole suite of insurances that are included, which covers your travel and shopping. You can read all the fine print here.
The ANZ Platinum card offers complimentary International Travel Insurance, Domestic Travel Insurance and Rental Excess Vehicle Insurance in Australia. Full details including benefits and limits are set out in the PDS.
To be eligible for international travel insurance, you need to have booked a return ticket from Australia and spent at least $250 of prepaid travel costs (e.g. flights, accommodation) on your ANZ Platinum Card.
Coverage is also extended to your spouse or dependents (i.e. children) if they also have a return ticket from Australia before travelling, and they’ll be with you for at least 50% of the trip.
Although you won’t earn points when buying things on your ANZ Platinum card, you do get some protection.
With purchase protection, if your new item is lost, stolen or permanently damaged within 90 days of purchase, then ANZ will fully reimburse you the cost provided you reported the loss to the appropriate authorities and fulfilled other set criteria in the PDS.
The extended warranty scheme gives you up to one extra year of warranty cover on your new products, if they break down after the usual manufacturer’s warranty period has expired.
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
Apple Pay, Google Pay and Samsung Pay support with ANZ
Summing up: ANZ Platinum credit card
The ANZ Platinum credit card is for those who are really trying to minimise outgoings in fees, but still get some benefits from their card. Be aware that international transactions will incur a 3% fee and the interest rate on purchases, cash advances and balance transfers are also quite high.
The included insurances are fairly comprehensive, but there are lots of exclusions and clauses that you should be reading in the PDS before deciding whether they are suitable for you.
* Originally written by Evin Tan Khiew.