Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631(trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL and Australian credit licence 234527 which allow eligible ANZ account holders and cardholders to claim under the group policy as third party beneficiaries. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Premium Cards – Insurances Policy Information booklet and the ANZ Credit Cards Insurance Features booklet which may be amended from time to time. An excess may be deducted from any benefit paid. ANZ does not guarantee this insurance. Any advice has been prepared without taking into account your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.
Got your specs handy? The ANZ Frequent Flyer Black Credit Card comes with Qantas Frequent Flyer points (a sign-up bonus and ongoing points earning) and the extensive suite of member benefits you’d expect from a prestige black card with a mammoth annual fee, but you’ll need to be all over the small print to make sure you extract the maximum advantage for the extra dollars you pay.
High annual fee, but it could be worth it
The annual fee has two components, the $370 card fee and the $55 rewards scheme fee, adding up to $425 per year. For each extra cardholder, add a further $65 ($10+$55). It’s pricey to say the least, but justifiable if you can spend enough each year to score, say, a business class return from Sydney to Melbourne – 32,000 points, requiring a $32,000 spend and saving you at least $1,233 (excluding any additional charges).
And the annual fee will seem insignificant in the first year when it is wiped out by sign-up benefits.
Uncapped points earning
The Qantas Frequent Flyer points earning rate is as high as it gets currently for a Visa card. As well, although there’s a points threshold, beyond which the earning rate decreases, there’s no overall points cap. It’s ANZ’s most rewarding Qantas Frequent Flyer card.
The earning rate is:
That $7,500 threshold is probably not going to be a problem for most cardholders in most months, so it’s likely that the vast majority of card spending will earn 1.0 points per dollar.
Sign-up bonus points plus generous cashback
ANZ will welcome you as a new credit card customer with:
The benefits aren’t confined to the first year. You’ll get these additional complimentary privileges for holding the card, every year:
There’s no getting around the steep annual fee, the high ongoing purchase and cash advance interest rate of 20.24% p.a., but holders of black cards don’t usually plan to take cash advances or rack up interest-bearing credit card debt.
You also have to be sure that you want Qantas Frequent Flyer points, because there are no options to earn, or transfer to, any other type of reward or airline points.
If you find the $425 annual fee too much to swallow, consider the ANZ Frequent Flyer Platinum Card instead, with a lower annual fee but also lower points earning rate. NAB, Westpac, St.George, Bankwest, Citi, Commonwealth, American Express, HSBC, Qantas Money, Bendigo Bank and Woolworths also offer cards directly linked to Qantas points. You can check them out on our Qantas cards page.
This card is meant for . . .
. . . Qantas Frequent Flyer points collectors who prefer the global acceptance of a Visa card, in contrast to the lower acceptance rate and higher surcharges attracted by an American Express card. The substantial bonus points and cashback make the card particularly attractive in the first year, while regular travellers are likely to consider that the lounge passes and complimentary insurance more than offset the annual fee in subsequent years.
I signed up for this card primarily for the bonus frequent flyer points offer, and also the high ongoing frequent flyer points earning. The first year’s fee was waived, and thankfully, because it’s $425 per annum and the interest rate is high. That’s when you have to question whether you will earn enough points to offset the fee, and frankly I’m not sure paying that much in fees is worth the earn rate. There aren’t many other benefits that will result in me retaining the card beyond the 12 month mark.
I have had two major interactions with ANZ customer service regarding the card, and both have been fantastic. ANZ also have Apple Pay, which is a bonus.
Overall, I do not believe the card is worth the annual fee.
I cancelled CBA Platinum credit card as this one was miles ahead with points per dollar, and the extra benefits such as being able to go into the Qantas lounge, etc, are excellent. The insurance is better and many other options are given.
The only downside is that, after the first year being free, the annual fee is crazy, so we plan to leave before getting stung, unless we can get this waived.
I am unimpressed with the recent poor service from ANZ while I was overseas recently in the US. I notified ANZ of my trip prior to leaving. However, they blocked my card on two occasions due to not realising I was overseas at the time, even though I had told them. I called using my mobile phone, which incurred roaming costs which they refused to reimburse. I have taken steps to cancel this card and never bank with them again.
I’ve earned a few free flights out of using our credit card for everyday spending. We put all of our spending on the card, then put our pay straight on it to avoid paying interest. It works a treat!
It’s a little annoying that you earn the main points using AmEx since not many places take it without surcharge, so if you aren’t careful it could end up costing lots more than it’s worth.
Good card. You receive 2 cards (both a Visa and American Express), which means it is accepted at most places. Fees are a little, but there’s good points earning for Qantas Frequent Flyer. I would recommend. Overall, I am very happy.
ANZ Black Frequent Flyer is a premium credit card suited mostly for frequent air travellers with air lounge passes and travel insurance included. The card also comes with 75,000 worth of Qantas Frequent Flyer points, which is equivalent to around $750 in gift cards.
I quite like earning frequent flyer points for everyday spending, although the annual fee is pretty high so you really have to use it lots for the points to be worthwhile. The AmEx companion card gets more points, but I often find there’s a surcharge for using it or it isn’t accepted. The Visa doesn’t give many points at all.
I’ve had this card for years and during that time it has changed from blue to gold to platinum to black. There may be better deals around, but I can’t be bothered to keep changing and I’m happy with this one.
I don’t really keep track of my frequent flyer points, so it is always a delight—like in November—when I can go and see a friend in Melbourne and fly more or less for free.
ANZ is solid and reliable—as much as any bank anyway—at one stage they told me about weird activity on my card in Europe and quickly replaced it.
I have this card purely for the Qantas Frequent Flyer points. It’s expensive, yes, but I feel the benefits outweigh the cost at this stage. The main reason I first got attracted and ended up choosing this card was for the 75,000 bonus points that were on offer. Also there are other benefits like free entry into airline lounges—domestically and internationally—and having no annual fee in the first year.
I am happy with this card at this stage.
I signed up for 75,000 sign up bonus QFF points with the first year’s annual fee waived and have already claimed the annual set of complimentary lounge passes. I found the application and service excellent and very streamlined.
The annual fee is very expensive, but you need to weigh it up against the points you get, which I think are market-leading. Overall, I would recommend this card.
|Cash advances||1.69%||20.24% p.a.|
Up to $7,500
1 pt per $1 spent
0.5 pts per $1 spent