Compare credit cards that earn points and come with the benefits of ANZ Rewards membership.
ANZ rewards is a loyalty program for ANZ bank credit card users. Cardholders who have an ANZ Rewards credit card can earn points for eligible spending with their card. These points can be redeemed for consumer merchandise and other goods and experiences, or exchanged for airline frequent flyer points or cashback.
Types of ANZ Rewards cards
ANZ has a number of cards attached to its ANZ Rewards program. They have varying points earning rates and complimentary benefits. Generally, the higher the annual fee, the more quickly points can be earned and the greater the included benefits.
For those who wish to earn Qantas points rather than ANZ Rewards points, ANZ has a separate suite of cards available that do not participate in the ANZ Rewards program.
How to earn ANZ Rewards points
Points are earned by using the credit card for everyday spending: groceries, petrol, utility bills, travel and entertainment, in fact all eligible purchases. The only exclusions – card expenditure which does not earn points – are items like fees and interest charges, cash advances, foreign currency purchases, balance transfers and gambling transactions.
Points earning rates
Points earning rates are usually expressed in terms of points per dollar, for example 1.5 points per dollar spent on eligible purchases. The earning rate varies between cards, and the bank may decide to change the points earning rate originally advertised.
Points caps and thresholds
Some credit cards have a monthly points cap, beyond which no further points can be earned until the next monthly billing cycle begins. For example, a cap which only awards points for the first $5,000 spent in any month.
Instead of imposing a points cap, ANZ has put in place a points threshold. For each card there is a monthly spending threshold, which, once reached, sees the points earning rate decline. For example, 1.5 points per dollar up to $2,000 per statement period, declining to 0.5 points thereafter. The higher the annual fee, the higher the threshold usually is, but it means that even the lower-fee rewards cards can earn at least some points on every dollar spent.
First purchase bonus points
ANZ regularly offer bonus rewards points to new cardholders. These points can be very valuable, usually ranging from 25,000 points to as many as 75,000 points. Rather than being 'sign-up’ points they are in fact 'first purchase’ points, requiring a readily-achievable card expenditure level in the first few months in order to qualify for the bonus, e.g. $2,500 in the first three months of holding the card.
No. ANZ also issues credit cards which earn Qantas Frequent Flyer points, and credit cards which earn no points at all. The ANZ Rewards credit cards all have the words 'ANZ Rewards’ at the beginning of their name.
There is no cost other than the annual fee for the rewards credit card.
The primary benefit is that you are rewarded for your normal credit card spending in the form of loyalty points which can be exchanged for merchandise and other advantages. Secondary benefits may come in the form of first-purchase bonus points and other complimentary benefits such as travel and shopper’s insurance, free flights and airport lounge passes.
Rewards points are not the only benefits you can expect to accompany your ANZ Rewards credit card. Depending on the card level and annual fee, you could also receive some of the following privileges, free of any additional charge:
Points are earned on all eligible purchases you make using the card – everyday spending as well as travel, entertainment and major purchases.
No. Points cannot be earned on card fees, interest charges, cash advances, balance transfers, foreign currency purchases and gambling or gaming transactions.
From time to time ANZ offers bonus points to new cardholders who meet a target spending amount in their first few months of holding the card. This is called a first purchase bonus. For example, ANZ may offer 75,000 bonus points for spending $2,500 in the first three months.
Yes. Both the primary and any supplementary cards earn points on eligible purchases, but all points earned belong to the primary cardholder.
Only the primary cardholder can operate the points account and select redemptions.
There is a wide range of options. Popular choices include retail gift cards, movie tickets and frequent flyer points with Virgin Australia, Singapore Airlines, Air New Zealand or Cathay Pacific. Points can also be effectively converted into cash (a cashback into your card account) or exchanged for merchandise, travel and charity donations.
Your options for redeeming points include:
If you wish, you can set up auto-redemption and receive your chosen reward whenever you have accumulated enough points, or at intervals specified by you.
You can choose the 'Points + Pay’ option, which allows you to pay the remainder in cash if you don’t have enough points for your selected redemption.
Good question. It depends on your lifestyle. If you simply want to recoup the annual fee and then see how much you are earning on top of this, retail gift cards in high denominations may be your best bet. But if you are a regular traveller, you may derive a better dollar value by converting them into airline frequent flyer points.
Points earning rates per dollar spent vary, depending on which ANZ Rewards card you have. The higher fee cards tend to have higher earning rates, which currently range between 1.0 and 2.0 points per dollar before the monthly threshold is reached. Earning rates per dollar fall when monthly spending reaches a set threshold, e.g. $2,000 per month.
The earning rates per dollar are not set in concrete. That is, the earning rate applying when you first get the card may change down the track.
The return per point for retail gift cards is about 0.5 cents. Converting ANZ Rewards points to Virgin Velocity frequent flyer points yields a very slightly higher result. Other redemptions, including merchandise from the online catalogue, will usually produce a lower return.
No. There is no absolute limit or cap on monthly or annual points earning. There is, however, a monthly spending threshold. The earning rate per dollar falls steeply once the threshold is reached.
Yes. Rewards points must be used within 36 months of 31st December of the year in which they were earned. Additionally, if your ANZ Rewards account is closed (because you no longer have an ANZ Rewards credit card, for example) you have 60 days in which to use them before they are cancelled.
No. The annual fees range from moderate to very high. The higher fee cards allow you to earn points faster, and also have more complimentary benefits attached.