Shrewd frequent flyers like to plan well ahead to secure award flights, often booking overseas air travel twelve months in advance in order to maximise the options available. This means they need to earn their Qantas Frequent Flyer Points with a degree of certainty and as quickly as possible, and the ANZ Frequent Flyer Platinum Credit Card offers them both assurance and a reasonable speed in their points acquisition strategy, as well as a significant bonus points and cashback boost in the first year.
Acceptable points earning rate but rather restrictive cap
The 0.75 QFF points per dollar earning rate for this card is reasonable for a Visa card, which is accepted almost everywhere, often without a surcharge (unlike AmEx cards).
Unfortunately there is a points cap, limiting to $3,000 the spending on which you can earn the full 0.75 points per dollar in any monthly statement period. After $3,000, the earning rate drops to 0.5 points per dollar. Since you are likely to put as many of your purchases as possible through the card in order to maximise points earning, you may find yourself running into the threshold several times per year.
Substantial 75,000 QFF points first purchase bonus
When you first start to collect QFF points, or when you’re saving them for a big overseas trip, the rate at which the balance grows can seem infuriatingly slow. But ANZ’s ‘welcome aboard’ bonus of 75,000 QFF points will soon lift your points total out of the doldrums and should renew your enthusiasm for collecting them. After all, 75,000 points puts you more than halfway towards a return economy flight to London or New York (120,000 points).
Setting your sights a little lower, you could get two return business class flights between Sydney and Melbourne or Brisbane for 64,000 points. The remaining 9,000 points are more than enough for a one-way economy flight on the same route.
You’ll need to spend at least $5,000 on eligible purchases in the first three months in order to earn the bonus points, but at an average of only $1,667 per month that target is unlikely to be too steep for someone looking at a platinum card.
The 75,000 bonus points are only available to new cardholders (which means you can’t have held any other ANZ card in the previous 12 months).
$75 cashback reduces the first year annual fee
The $5,000 of purchases you make during the first three months also has another substantial benefit in the form of a $75 cashback to your account. The annual fee for this card account is $295 ($240 card fee + $55 rewards program fee), so the cashback effectively reduces the annual fee to $220 in the first year.
For each supplementary cardholder the normal fee is a rather pricey $65 ($10 + $55). You can in fact have as many as nine additional cards issued on the account, which in theory is a great way to get the points rolling in. But very few primary cardholders will have time to keep under control the spending activities of nine extended family members, not to mention the high cost of these cards.
Complimentary insurance cover
Since the complimentary insurance policies in particular form the main point of difference between ANZ’s standard frequent flyer card and this platinum version, there must be a strong correlation between the provision of the insurance cover and the extra $200 charged for the platinum card’s annual fee. However, since there are seven types of insurance policy automatically delivered with this card, an extra $200 seems pretty reasonable. Here are the policy outlines:
Overseas travel cover is activated by paying at least $250 (for each person to be covered) of the trip’s travel, accommodation or tourist activity cost, in advance, using the card. To obtain transport accident and interstate flight inconvenience cover, you must pay for the full fare using your card. The remaining policies require you to have used your card to pay the total purchase price of the insured items.
ANZ say that the overseas travel insurance alone is worth $775 every year, but of course you need to be travelling overseas at least once a year for this to be true. It is in fact possible to buy an annual multi-trip policy without major destination exclusions for as little as $430, but the cover may not be as extensive as the apparently very comprehensive insurance provided with the card.
Other built-in benefits
Most platinum cards have a list of possibly rarely-used extras available to cardholders, and this one is no exception. But it’s certainly worth a look at what’s on offer:
Predictable interest rates
With an emphasis on frequent flyer points and a very extensive range of insurance, this card was never going to be about low interest rates, or interest-free introductory periods on purchases and balance transfers. You’ll get none of these, because ANZ seem to have assumed, probably correctly, that anyone interested in paying for a platinum card is going to settle their monthly account balance in full nearly all of the time.
So the interest rate on purchases is an unsurprising 19.99 percent, while the cash advance rate is 21.49 percent. There are, however, up to 55 interest-free days on purchases each month, not the less accommodating 44 days, courtesy of the billing cycle.
Other Visa or Mastercards offering 0.75 QFF points per dollar, or more
If collecting Qantas points as quickly as possible is your aim, you’ll want to consider this card alongside cpmpetitors offering the same or higher earning rates. On our Qantas page in our Features section, you can compare this card with the HSBC Platinum Qantas Credit Card, the Westpac Altitude Black Credit Card and the NAB Qantas Rewards Premium Card, as well as many others.
A traveller’s card
Anyone collecting Qantas Frequent Flyer points with the aim of travelling overseas will particularly appreciate the ANZ Frequent Flyer Platinum Credit Card. The first purchase bonus gets your points balance off to a flying start, and the ongoing earning rate and Visa’s wide acceptance means that you’ll achieve your goal more quickly, with high quality travel insurance to cushion any problems you might experience when you eventually get away. The annual fee is a significant commitment, but the first year cashback makes it less expensive to try out to see if it is a good fit for you.
The best part about this rewards card is that you are earning points for the money you were going to spend anyway. The helpful team at ANZ advised me to put all my cash into savings and to use my credit card for everything. At the end of the month all I need to do is pay the closing balance so I don’t pay any interest, and I’m earning heaps of points. Given the fact that the card has low fees, it’s a great way to earn something for your day-to-day spending.
The platinum card comes with an American Express and Visa card for different rates of earning points. I highly recommend this card.
I got this card as part of my ANZ home loan, so its fees are minimised as a result. I wouldn’t get this card as a standalone product due to the high fees, but as a part of a package.
The frequent flyer points ratio is high compared to other cards out there.
I’m happy with this card as it’s convenient and easy to use for my family.
I have received great assistance when making any enquiries into any queries that might have occurred during its use, and feel safe in having this card with this bank. I would have no hesitation in recommending it to friends.
It has a very high fee and high rewards. If you are not a big spender, then don’t use this card. However if you spend lots of money, you may even need the rewards.
The annual fee on this credit card is quite high. The interest rate is pretty high also, but there’s a fairly decent awards program with variety of awards to choose from.
Another major negative is that it takes a long time to earn enough points to redeem a decent award. There aren’t really any decent awards that don’t cost a ridiculous number of points. You end up needing to spend tens of thousands of dollars in order to earn enough points to redeem a decent award.
There are many awards programs on offer by any number of different banks that offer the same credit card types but with a much lower interest rate and, most importantly, a much cheaper annual fee.
Every dollar spent on this card earns you points, transferable to anything you wish.
The upfront cost is high, but is easily covered by rewards during the year. Qantas points can be used at the Qantas site or for groceries, electricity, flights, clothes, hardware, gift cards, kitchen appliances and virtually anything you can think of.
They have great fraud protection. You can be rewarded for your everyday purchases and access a flexible rewards program with complimentary insurances and personal concierge.
If you’re making purchases on your credit card, you should get something back. You have the flexibility to redeem reward points on a wide range of rewards, including gift cards, merchandise and cashback. With two cards you could earn more rewards and there’s no cap to the number of reward points you can earn.
ANZ Rewards Platinum also comes with a range of complimentary insurances.
The ANZ Frequent Flyer Platinum Visa card is the best card i have ever owned. it has a long payment period, good interest rate, a low fee, and is accepted all over the world with no hassles.
Also there is an American Express rewards card attached at no extra charge. with only one payment on one account, which is so convenient. i
t has a lot of benefits, the best one being travel insurance. i would never change it.
I’m pleased with this card, but not with an annual cost of $350! It’s worth it if you want to get points on all your everyday purchases, for flights or other rewards. It’s good if you want a higher credit limit.
I have generally been satisfied with ANZ Visa, and had good customer service from them.
ANZ look after me well and I fully recommend them.
The features and rewards from the card make it easy to travel, to shop and to pay bills in a very efficient manner.
The payWave feature allows the speed of interaction to be quick and clean — a great feature.
|Cash advances||1.79%||21.49% p.a.|
Up to $3,000
0.75 pts per $1 spent
0.5 pts per $1 spent