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 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 ($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 Qantas Frequent Flyer 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 Qantas Frequent Flyer bonus points you’ll receive, provided you spend at least $1,000 using the card 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 $99.50 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 points per dollar. 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 Qantas flights, Qantas holidays and Qantas Frequent Flyer 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 55 interest-free days on purchases each month but 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 20.24 percent p.a. That’s a fairly typical credit card rate, and so is the 20.24 percent 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, Google Pay, Samsung Pay and ANZ Mobile Pay, to allow you to tap and pay securely with your smartphone or other mobile devices 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 is 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 Qantas Frequent Flyer 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 Qantas Frequent Flyer 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.
This card has a very good 50K Qantas FF points opening bonus. The card’s yearly fee is quite low and it comes with a free travel insurance policy, which is a good deal for any traveller.
You get a Visa and AmEx at the same time, so you have the extra convenience of having two cards instead of one. AmEx earns more points but Visa is more widely accepted.
This card is easy to use, with great functionality. Yearly fees are high, however.
Your rewards points don’t get added until three months after the goods are purchased. High fees are charged when used overseas.
It’s not worth keeping this for Qantas points any more, as ANZ is continually reducing the amount of Qantas Frequent Flyer points you can earn.
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 over 10 years and it works for me. I have accumulated sufficient points for several Aussie adventures. It has never been refused on overseas trips or here in Australia. Replacement when lost was easy and quick.
I am considering looking around to see if I can find a better deal which will give me at least 1 point for every dollar spent instead of the 1 point for each $2 spent, but I still want it to be a Qantas rather than Virgin-linked card.
I pay the balance each month so the interest rate is of lesser importance, though certainly it is unreasonably high.
ANZ Frequent Flyer allows you to live your life comfortably. Don’t dream of flying away from your bad credit and debts. Live grounded with ANZ, a big bank that allows you to dream big without compromising on essentials. Live a little, frequently.
ANZ has conveniently located ATM machines, branches and internet availability.
Getting Qantas reward points is really good, and there’s no annual fee (for the first year)! It’s an excellent idea to have this credit card, to have rewards for life and enjoy everyday shopping, spending and earning. Good spending, good credit card and good rewards. I love to see the points accumulating.
Good card, secure, but fees for rewards program are quite high. ANZ is a good bank to bank with, and I do value the security and trust I have with the bank. I like to keep all of my accounts in the one place and have them conveniently linked together.
I feel that this credit card is really good and does what I need. It allows me to accumulate frequent flyer points, so I am closer to going on a holiday in the sun away from the cold this winter. The travel insurance that comes with it saves me heaps of money as well.
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.
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.
|Cash advances||1.69%||20.24% p.a.|
Up to $500
0.5 pts per $1 spent
0.25 pts per $1 spent