Point Hacks Credit Card Guide

A guide to the ANZ Rewards program

ANZ Rewards are one of the few banks and card loyalty programs, alongside Citibank and Westpac, that offer the ability to transfer points from non-American Express spend to Asia Miles and KrisFlyer.

This makes ANZ Rewards definitely worth knowing about when looking for a flexible points program to work with to ‘level up’ your points earn and redemption strategy for maximum value.

KrisFlyer miles can be used on redemptions in Singapore Airlines Suites Class

ANZ Rewards: the card range

There are four accounts in the line-up: Classic, Platinum, Rewards Travel Adventures and the high-end, higher-fee ANZ Black Visa.

All four cards earn ANZ Rewards points, with ANZ Rewards offering transfers of points to Velocity Frequent Flyer, Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Air New Zealand Airpoints Dollars.

More on this further in this guide but these partnerships make ANZ Rewards a key bank rewards program for those looking for flexibility in how they redeem their points.

Digging into the details of the ANZ Rewards program and the ANZ Rewards credit card range

ANZ Rewards is the loyalty program and currency of ANZ’s own credit card rewards program.

It is worth being aware of as although it does not have the widest range of transfer partners (unlike American Express’ Membership Rewards), it does partner with a few key frequent flyer programsVirgin Australia’s Velocity, Cathay Pacific’s Asia Miles, and Singapore Airlines’ KrisFlyer.

An excellent use of Velocity Points is for travel in Etihad A380 Business Class

ANZ Rewards also offers a range of non-frequent flyer linked redemption opportunities for products from a wide range of categories, including toys, homewares and fashion. There is also the ability to redeem for gift vouchers for many mainstream retailers such as Bunnings and Myer, or if you prefer, cashback direct to your account.

ANZ Rewards Frequent Flyer program partners

ANZ Rewards partners with KrisFlyer, Asia Miles and Velocity, which covers three of the key frequent flyer programs in the region for Australia-based travellers.

Frequent Flyer ProgramTransfer RateANZ Rewards Black Effective Earn RateANZ Rewards Platinum Effective Earn RateANZ Rewards Effective Earn RateANZ Rewards Travel Adventures Card Effective Earn Rate
Virgin Australia Velocity2 ANZ Rewards points to 1 Velocity point1 point per $10.75 point per $10.5 point per $10.75 point per $1
Singapore Airlines Krisflyer Miles3 ANZ Rewards points to 1 Krisflyer Mile0.66 point per $10.5 point per $10.33 point per $10.5 point per $1
Cathay Pacific Asia Miles3 ANZ Rewards points to 1 Asia Mile0.66 point per $10.5 point per $10.33 point per $10.5 point per $1
Air New Zealand Airpoints200 ANZ Rewards points to 1 Airpoints Dollar0.010 Airpoints per $10.0075 Airpoints per $10.005 Airpoints per $10.0075 Airpoits per $1

The transfer rates and minimum points required to make transfers from ANZ Rewards to these programs are not as high as other credit card programs—but the lower transfer rate can be made up with the slightly higher relative earn rates of ANZ Rewards points on the accounts.

Virgin Australia Velocity: points are transferred out of ANZ Rewards at a rate of 2 ANZ Rewards points to 1 Velocity Point. There is a minimum transfer of 2,250 ANZ Rewards points (1,000 Velocity points) and transfers must be made in 2,250 ANZ Rewards point increments. More here

A guide to the ANZ Rewards program was last modified: November 8th, 2018 by Keith

Singapore Airlines KrisFlyer: miles are transferred out of ANZ Rewards at a rate of 3 ANZ Rewards points to 1 KrisFlyer mile. There is a minimum transfer of 6,000 ANZ Rewards points (2,000 miles) and transfers must be made in 2,000 ANZ Rewards point increments. More here

A guide to the ANZ Rewards program was last modified: November 8th, 2018 by Keith

Asia Miles: miles are transferred out of ANZ Rewards at a rate of 3 ANZ Rewards points to 1 Asia Mile. There is a minimum transfer of 3,000 ANZ Rewards points (1,000 miles) and transfers must be made in 1,500 ANZ Rewards point increments. More here

Asia Miles can be used on both Cathay Pacific and oneworld partner flights like Qantas and Japan Airlines

A guide to the ANZ Rewards program was last modified: November 8th, 2018 by Keith

Air New Zealand Airpoints: miles are transferred out of ANZ Rewards at a rate of 200 ANZ Rewards to 1 Airpoints Dollar. There is a minimum transfer of 3,000 ANZ Rewards points (15 Airpoints) and transfers must be made in 1,500 ANZ Rewards point increments. More here

It is also possible to turn ANZ Rewards points directly into flight and hotel bookings. A few trial runs yielded value of around 0.5c per ANZ Rewards point from this method – but I’d recommend using them for frequent flyer point transfers as you’ll get more value.

Earn bonus ANZ Rewards points at the ANZ Bonus Points Mall as a cardholder

The range of ANZ Rewards cards are also eligible to use the ANZ Bonus Points Mall as a means to earn more bonus points when shopping online, after clicking through from the ANZ Bonus Points Mall website.

This is a neat, unique win for ANZ Rewards cardholders. In comparison to earning points from Virgin or Qantas own online malls, you can earn more ANZ Rewards points, which have greater flexibility.

ANZ Apple Pay & Google Pay support

ANZ cards support Apple Pay & Google Pay, meaning you can use their cards on your smartphone for easier payments. Find out more in our guides for each of the compatible services.

A guide to the ANZ Rewards program was last modified: November 8th, 2018 by Keith

Summing up: ANZ Rewards program and credit card range

Once you look at the effective earn rate of Velocity, Asia Miles, KrisFlyer miles and Air New Zealand Airpoints on a per $ basis, you can see that the most compelling earn rate comes with the ANZ Rewards Black account, which is competitive against other cards in the market. On the other hand, frequent overseas travellers might find the set of features that comes with the Rewards Travel Adventures card more useful and appealing.

Note that ANZ Rewards 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.

Disclaimers

ANZ would also like us to include the following disclaimer.

Reward Points accrue in accordance with the ANZ Rewards – Rewards Program Terms and Conditions booklet (please call 13 13 14 for a copy). Purchases which are not eligible to earn Rewards Points are described in the ANZ Rewards – Rewards Program Terms and Conditions booklet, e.g. fees, cash, cash equivalent transactions, balance transfers and transactions for gambling or gaming purposes will not earn Reward Points.

A guide to the ANZ Rewards program was last modified: November 8th, 2018 by Keith

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Comments Expand Comments

  1. PeterM

    I’ve had at least one of these ANZ cards for the last 20 years.
    The value proposition is pretty poor these days as ANZ reduce the rewards earning rate by 66% at $2000 spend per month on most cards.

  2. Rose

    Thanks, Keith. Very helpful guide. A question: I have ANZ Rewards Travel Card – if I transfer the rewards points to Velocity and from Velocity transfer to Krisflyer (before 1 Jan 2019), will this yield higher point per dollar compared to transferring direct from ANZ Rewards to Krisflyer? Thanks.

    • Hi Rose

      In this case, ANZ to Kriflyer via Velocity makes more sense.

      For example
      1000 ANZ points = 333 Krisflyer points

      1000 ANZ points = 500 Velocity points = 370 Krisflyer

      Please also note if you transfer ANZ points to Velocity while there is a bonus offer from Velocity, you will earn more velocity points and hence more Krisflyer points.

      Can someone correct me, if my calc is not right.

      cK

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