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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.
Earn regular bonus points with Qantas
One way to earn extra points while avoiding the cap is to do your travel spending through Qantas. ANZ has partnered with Qantas and other bonus partners in order to offer cardholders one extra QFF point per dollar spent. This means that you will get 1.75 points per dollar for spending with these businesses (or 1.5 points per dollar if you’ve exceeded the $3,000 threshold). Qualifying Qantas products include flights, Qantas Frequent Flyer and Qantas Club membership fees, and Qantas holidays.
There is no cap on the number of bonus points you can earn, so it makes sense to look for opportunities to earn them.
Substantial 65,000 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 65,000 QFF points will soon lift your points total out of the doldrums and should renew your enthusiasm for collecting them. After all, 65,000 points puts you more than halfway towards a return economy flight to London
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 65,000 bonus points are only available to new cardholders (which means you can’t have held any other ANZ card in the previous 12 months) and you’ll need to make at least one purchase on the card, however small, in the first three months in order to qualify.
$150 cashback reduces the first year annual fee
The first purchase you make during the first three months also has another substantial benefit in the form of a $150 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 $145 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 lifestyle 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%, while the cash advance rate is 21.49%. 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 Visa competitors offering the same or higher earning rates. 'n 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 service I get from ANZ is fantastic the only complaint that I have is the annual fees other wise its all good. I can use either of my cards in most shops and have never had anyone scam me. I find that I budget better with a credit card then before I had one. It gets paid off every month so I don’t pay any interest and still don’t spend more then I can afford.
I took this originally for the Qantas points and used it only the once because there was always too much involved in getting flights etc. I would like to find a better alternative, but it’s feels like a minefield. And it’s never the right time to look into it or I just don’t have the time – not lazy, just frustrated.
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 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.
The reliability and back up service is excellent. I feel confident that the security behind the card operation is of the highest standard. I use the card and the service both locally and overseas with ease. I have found the internet banking system associated with the card can be hard to access at times. The phone app is also excellent.
This is a good card for everyday use, but 15 day auto pay-off is a bit of a pain because you never pay off the whole amount owing. This means you never have your full amount of credit for the month. Also, the statement period runs from 20th to 20th, so it’s a bit hard to track monthly spending and budget.
I got this credit card due to the frequent flyer points promotion that they had going at the time. I’m currently looking at changing as the fees you pay are huge and the service you get is poor. I had my cards stolen and they didn’t even cancel them after I had called them twice. It also takes about a week for transactions to show on your statement.
Applied the card in order to earn frequent flyer points and it did help a lot. I have been earning 2 return tickets to my home country in 4 years time. I am generally happy with the card as it is accepted in many shops and I never had any trouble when using it.
I have had this card for many years and am so satisfied that I would never change. There’s no card like this one. It offers great rewards, frequent flyer points, is the most convenient, and is accepted everywhere with no hassles.
I would highly recommend it to everyone who wants a good card in all aspects. It is very simple to use with the tap and pay option.
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.
|Cash advances||1.79%||21.49% p.a.|
Up to $3,000
0.75 pts per $1 spent
0.5 pts per $1 spent
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
|Total estimated value||$1,391|
|Net customer value||$1,096|