ANZ is offering 180,000 extra ANZ Reward Points (enough points to redeem $800 in gift cards) plus $150 back for new cardholders of the ANZ Rewards Black credit card. This guide covers the earn rates, caps and benefits of the ANZ Rewards Black credit card.
A minimum spend of $3,000 within the first 3 months of approval is required to receive the bonus points for this card. 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 & charges apply (including annual fee currently $375 p.a. ongoing). Note that bonus points won’t be awarded to those who have held (or still hold) any ANZ Rewards credit card in the last 12 months.
The 180,000 extra ANZ Reward Points can get you $800 in eGift Card from Bunnings, Woolworths, Myer, JB HiFi, Coles or Kmart.
You may also opt to convert the points into Velocity Points at a 2:1 ratio, or to KrisFlyer miles or Asia Miles at a 3:1 ratio, which means the current bonus point offer is equivalent to 90,000 Velocity Points or 60,000 KrisFlyer miles or Asia Miles.
Digging into the details of the ANZ Rewards Black credit card
The ANZ Rewards Black credit card earns ANZ Reward Points, which is ANZ’s own rewards program. We like flexible points programs here at Point Hacks — it allows you to earn points in a single program with the ability to move them to a partner program of choice (such as Velocity or KrisFlyer) at a later date.
The ratio is 2:1 if you opt to convert your ANZ Reward Points to Velocity Points.
|Card||ANZ Rewards Black|
|Loyalty program||ANZ Rewards|
|Points earned from spend||2 Reward Points per $1 spent on eligible purchases up to $5,000 per statement period,
then 1 Reward Point per $1 spent on eligible purchases above $5,000 per statement period
|Included insurances||International Travel Insurance,
Domestic Travel Insurance,
Rental Vehicle Excess in Australia Insurance,
Purchase Protection Insurance and
Extended Warranty Insurance
|Overseas transaction fee||3% of the converted amount|
|Mobile wallet||Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay|
|Cash advance rate||21.99%|
|Interest Free days||Up to 55 days|
|Annual fee||$375 p.a. ongoing|
With the ANZ Black Rewards, you’ll earn:
- 2 Reward Points per dollar spent on eligible purchases up to $5,000 per statement period
- 1 Reward Point per dollar spent on eligible purchases above $5,000 per statement period.
In simpler terms, here’s the equivalent number of frequent flyer miles you could earn for every dollar spent on eligible purchases (when you are still under the $5,000/statement period threshold):
- 1 Velocity Point
- 0.66 KrisFlyer miles or Asia Miles, or
- 0.01 Air New Zealand Airpoints
This is what we call the ‘effective earn rate’ — what you would effectively earn from your spend after your ANZ Reward Points have been transferred over to the partner frequent flyer program. Note that minimum points transfer amounts apply.
What are the benefits of the ANZ Rewards Black credit card?
As a top-tier product, the ANZ Rewards Black credit card includes a number of complimentary insurances including:
- International Travel Insurance
- Domestic Travel Insurance
- Rental Vehicle Excess in Australia Insurance
- Purchase Protection Insurance
- Extended Warranty Insurance
These insurances are usually found in higher-tiered cards and will come in handy for both frequent flyers and frequent buyers alike. Click the link to read the PDS.
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
Card eligibility criteria
These are the minimum requirements to be eligible to apply for this Card. Other additional eligibility criteria, such as proof of income, will generally be required later on.
- Be 18 years old of age or over, and;
- Be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your visa
Frequently Asked Questions
ANZ Reward Points can be used for merchandise or gift cards. However, a better option may be to transfer it to an airline frequent flyer program. Read more here.
We tentatively value each ANZ Reward Point at 0.8 cents each. Its actual value will depend on what you ultimately use the points for.
Log in to the ANZ Rewards portal through https://anzrewards.com/public/login.aspx
Some transactions and other items are not eligible to earn ANZ Rewards Points. Please refer to the ANZ Rewards – Rewards Program Terms and Conditions booklet for details.
Summing up: ANZ Rewards Black credit card
The ANZ Rewards Black credit card offers a compelling effective earn rate of Velocity Points, KrisFlyer miles, Asia Miles and Air New Zealand Airpoints. It’s also competitive against other cards in the market at this level.
Note that ANZ Reward Points do expire — points must be used to claim a reward three years after the end of the year in which the points were earned, or they will be cancelled.
With a program like ANZ Rewards, the key benefit is in the additional options that having many program transfer partners on offer gives when it comes to redeem your hard-earned points. It does make managing your points a little more time-consuming as you have to factor that into your travel plans.