Tools & calculators
Balance transfer calculator
Credit card debt calculator
Minimum repayment calculator
Points transfer calculator
Reward points explorer map
It’s all about the points, and only about the points, and that’s good news for dedicated Qantas Frequent Flyer points collectors who are sick of paying for bells and whistles they neither need nor want. The ANZ Frequent Flyer Credit Card lives up to its name, delivering Qantas points and little else, and in the process presenting one of the lowest annual fees for a rewards program card.
Low annual fee for a Qantas points card
The very reasonable $95 p.a. annual fee has two components – a basic fee of $40 plus a rewards program service fee of $55. Plus you can have up to three supplementary cardholders to help you earn those valuable points. All good news so far. Unfortunately, you’ll pay $65 p.a. ($10 + $55) for each and every additional card as well as the $95 for your own, so you need to be pretty sure your partner/child/parent is going to earn enough points to offset the steep cost. Even at an optimistic value of 1.5 cents per QFF point, each supplementary cardholder needs to spend $4,333 per year before they enter positive territory.
Most cards – even rewards cards – don’t charge for additional cardholders, so ANZ is going out on a limb with this high charge.
Big points boost to get you started
Even if you do need at least one supplementary card, the cost is more than covered in the first year by the 25,000 points you’ll receive, provided you make at least one purchase, no matter how small, during the first three months. You could use the 25,000 points for three one-way economy flights between Sydney and Melbourne. You’ll need to be a new ANZ cardholder to qualify for the bonus points, not just switching from another ANZ card.
Complimentary Qantas Frequent Flyer membership
Qantas charge an $89.50 joining fee for new entrants to their frequent flyer program, but ANZ will pay this fee on behalf of a cardholder who is not already a member.
Reasonable points earning rate for a Visa card, but it’s capped
It’s a recognised fact that Visa cards don’t earn rewards points at the same rate as Amex cards, and this is a Visa card. The 0.5 points per dollar earning rate is also not as high as the scale offered by the ANZ Frequent Flyer Platinum and Black credit cards, but it’s realistic given the much lower annual fee for this card.
Unfortunately, there’s a very low $500 monthly points cap, after which the rate falls to a disappointing 0.25 pts per $1 spent. The fact that the minimum credit limit of $1,000 is double the amount of the cap makes it seem even more restrictive.
Bonus partner points
The fact that ANZ has organised a number of bonus point partners takes some of the sting out of the low cap. When you use your card to make purchases from these businesses you get additional points per dollar. This is on top of the standard 0.5 points automatically earned. The bonus partners include Qantas, where you’ll earn an extra 1.0 points per dollar spent on flights, Qantas holidays and QFF and Qantas Club membership.
There are other bonus partners, which change from time to time, and ANZ will inform you who these partners are and keep you up-to-date as they change. These bonus points are uncapped. You can still earn them when you have exceeded the monthly spend cap for regular purchases.
Standard interest rates
It’s a frequent flyer points card, front and centre, so there are no special interest rates or other financial inducements. There are Up to 44 days on purchases each month, not the more accommodating 55 days, and there’s no introductory interest-free purchase period or interest-free balance transfer option.
If you don’t pay off your purchase balance in full each month you’ll lose your interest-free days and start paying interest on the daily balance at 19.99% p.a. That’s a fairly typical credit card rate, and so is the 21.49% p.a. on cash advances.
Up-to-the-minute technology and security
ANZ Visa cardholders can take advantage of ANZ Visa payWave to make contactless purchases without a PIN for amounts under $100. ANZ’s goMoney app provides a way to manage your card account on your iPhone or Android. The card is also eligible for use with Apple Pay, Android Pay, Samsung Pay and ANZ Mobile Pay, to allow you to tap and pay securely with your smartphone or other mobile device instead of using your card.
ANZ Falcon monitoring offers constant protection against potentially fraudulent transactions, and worldwide emergency card replacement lets you travel with confidence.
Visa Entertainment the only complimentary benefit
The card comes with Visa Entertainment membership, giving you access to special events, entertainment packages and pre-sale concert tickets.
There are no complimentary travel, extended warranty or other types of insurance policy with this card.
Similar cards to consider
The Qantas American Express Discovery Credit Card offers QFF points without charging a steep annual fee. The NAB Qantas Rewards Card has features and costs similar to this ANZ card. Compare these and other Qantas cards on our Qantas page.
A card for QFF enthusiasts
There’s no doubt that this is an ideal card for keen Qantas points collectors with an eye for cost effectiveness and no interest in other 'benefits’ they may not use. It’s a pared-back card with no nonsense about free insurance but tempting bonus points in the first year. However, after receiving the bonus points you’ll need to be prepared to see your points accumulate at only a moderate pace.
We paid no, or very little, fees for years. Now that our mortgage is with another bank, they just took $500 worth of fees without warning or contacting us to see if we were happy, or could be on a different setup. I will be looking at changing the balance over to a different company with lower fees in the near future.
I have been a customer for 17 years, having joined soon after I became a Qantas Frequent Flyer. In that time the ANZ have alerted me to its fraudulent use overseas, which I greatly appreciated. Any phone inquiries have been answered with courtesy and I have been pleased with any resolution.
I am very happy with the service given to me by my branch of ANZ and the credit cards they supply.
I always feel confident that they sill be accepted where ever I may be, even in other countries.
I find the fees charged are fair for the services received.
Never had a problem. Get good frequent flyer points. It is also linked to an American Express Catd which is Ok if used where surcharge does not apply – get more frequent flyer points. American Express Card only free of surcharge at Supermarkets – Coles and Woolies and at Shell service Stations. No good in restaurants and Caltex petrol statiosn
1 point for every $2 spent, yearly fees over $100, and a short interest-free period. There are better rewards cards out there. The statements are mailed really late so it’s easy to miss a payment, and their online banking is difficult to set up. I think for the yearly fee there are better deals available.
I have had this card for many years and as long as I pay the balance a few days before the due date, I don’t pay interest. I always make sure I pay well before the due date and don’t incur interest or late payment fees on my card ever.
I like the frequent flyer points I can earn, but the interest rate is a bit high. It is convenient as it is accepted everywhere and makes internet shopping easy. I first got it for use when I travel overseas. I’m not sure about the pay wave system, could be easy to use if stolen.
This is a good card that ears Qantas points, but it could have more features. Other cards have a higher annual fee, but more features. Most times I can get the fee waived or a loyalty bonus of the same or higher value. Customer service is friendly and helpful—I have never had any problems.
The whole reason for getting this particular ANZ credit card was always to collect Qantas Frequent Flyer points from everyday usage e.g. everyday purchases, bills, etc. However, as with most cards the value of the rewards have deteriorated and the cost of maintaining the card has increased since getting it.
The interest is very good the service is always friendly and the payments are very fair they always try to fix any problems I am having with my card and if I need to I can always put my credit limit up I probably don’t use it enough to get many frequent flyer points
|Cash advances||1.79%||21.49% p.a.|
Up to $500
0.5 pts per $1 spent
0.25 pts per $1 spent
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
|Total estimated value||$18|
|Net customer value||$-77|