ANZ Frequent Flyer Platinum Credit Card | Review & Compare

ANZ Frequent Flyer Platinum Credit Card

Offer
Card features
accepts temp residents
purchase rate
annual fee
Apply
ANZ Frequent Flyer Platinum Credit Card
Receive 50,000 bonus Qantas points and $195 back with your new ANZ Frequent Flyer Platinum Credit Card (terms and conditions apply).
Complimentary Qantas Frequent Flyer Membership.
Eligibility criteria, T&Cs, fees and charges apply.
Add to comparison
Yes
20.24% p.a.
ongoing
$295
ongoing

Pros & cons

What's good?

What's not so good?

Receive 50,000 bonus Qantas points and $195 back when you spend $2,000 on eligible purchases in the first 3 months from approvala.
Complimentary Qantas Frequent Flyer membership, saving you $99.50.
Earn 0.75 Qantas Points per $1 spent on eligible purchases up to $3,000 per statement period.
Get complimentary International Travel Insurance.
Dedicated personal concierge service available 24/7.
Google Pay™, Samsung Pay™ and Apple Pay let you use your compatible Android or Apple device to tap and pay.
Interest rate on purchases of 20.24% p.a. is up there at the more expensive end of the range.
0.5 Qantas Points per $1 spent on eligible purchases above $3,000 per statement period.

 
a New card. T&Cs, spend & eligibility criteria, fees & charges apply (including annual fee currently $295).

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the ANZ Frequent Flyer Platinum Credit CardReviewed by Yvonne Taylor

Shrewd frequent flyers like to plan well ahead to secure award flights, often booking overseas air travel almost a year 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 50,000 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 50,000 QFF points will soon lift your points total out of the doldrums and should renew your enthusiasm for collecting them. After all, 50,000 points puts you almost halfway towards a return Economy flight to London or New York (110,400 points).

Setting your sights a little lower, you could get three return Economy flights between Sydney and Melbourne or Brisbane for 48,000 points.

You’ll need to spend at least $2,000 on eligible purchases in the first three months in order to earn the bonus points, but at an average of only $667 per month that target is unlikely to be too steep for someone looking at a platinum card.

The 50,000 bonus points are only available to new cardholders (which means you can’t have held any other ANZ frequent flyer card in the previous 12 months).

$195 cashback reduces the first year annual fee

The $2,000 of purchases you make during the first three months also has another substantial benefit in the form of a $195 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 $100 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:

  • Multi-trip overseas travel insurance for the cardholder and their immediate family, providing cover for emergency medical expenses, protection for luggage against theft, loss, damage and delay, compensation for travel delay or unavoidable cancellation, rental car insurance excess waiver of up to $5,000, and more.
  • Extended warranty insurance, doubling the manufacturer’s warranty up to a maximum of 12 months extra cover.
  • Transport accident cover, for travel on trains, buses, ferries and planes, in Australia or overseas.
  • Rental car collision excess cover in Australia, reimbursing up to $5,000.
  • Interstate flight inconvenience insurance, providing compensation in the event of holiday travel delay or unavoidable cancellation, plus loss or damage cover for luggage.
  • Purchase security insurance, covering personal items against loss, theft or damage for 90 days after purchase, with a generous $135,000 annual claim limit.
  • Best price guarantee scheme, reimbursing the price difference if you see an item advertised for a lower price within 21 days of purchase.

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:

  • Qantas Frequent Flyer program joining fee waiver (worth $99.50) if you are not already a member.
  • 24/7 personal concierge service, which may be useful for the kind of regular traveller this card is designed for.
  • ANZ Falcon to monitor potentially fraudulent transactions on your card, backed up by ANZ Fraud Money Back Guarantee.
  • Worldwide emergency card replacement
  • Pay using your mobile device with Apple Pay, Google Pay, Samsung Pay, Garmin Pay or Fitbit Pay.

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 20.24% p.a., and the cash advance rate is 20.24% p.a. 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 competitors offering the same or higher earning rates. On our Qantas page in our Features section, you can compare this card with the Qantas Premier Everyday Card and the Qantas American Express Discovery Credit 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.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

User reviews

3.7 out of 5.0 based on 34 reviews82% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Expensive but rewarding

Reviewed and recommended by Brian on 21 Oct 2016

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.

It's been convenient and reliable

Reviewed and recommended by Wayne on 09 Oct 2016

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.

High fee but high rewards

Reviewed and not recommended by Tony on 27 Sep 2016

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.

Go with a lower rate, low fee card

Reviewed and not recommended by Anne on 26 Sep 2016

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.

Enjoy the multiple rewards

Reviewed and recommended by Natnat on 20 Sep 2016

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.

Rewards, insurance and concierge

Reviewed and recommended by Kerry on 20 Sep 2016

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.

Best card I have ever owned

Reviewed and recommended by Elaine on 20 Sep 2016

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.

Great value and features

Reviewed and recommended by Andrew on 17 Sep 2016

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.

Convenient and handy card

Reviewed and recommended by Michael on 16 Sep 2016

Very happy indeed with the card. It covers all our travel insurance and is extremely useful at all times. We have used it in England, Singapore, Darwin, Adelaide, Sydney, and wherever we go in Western Australia. It is just so convenient and handy.

I am so glad we have it and don’t believe I would be happy with a different one.

Would prefer lower interest rate

Reviewed and recommended by Rebecca on 10 Aug 2016

While I have had this card for sometime I would like to be seen as a valued customer and be rewarded with a cheaper interest rate. I do not need extra bits and pieces which I never use . . . so value me more . . . otherwise I may as well have any other card.

Show 24 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
N/A
Pensioners
Rewards program
Qantas Frequent Flyer
Non-Permanent Australian residents
Yes

Cardholders

Additional cardholders
9
Additional card fee
$65 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
whichever is gretaer, $25 or 2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.69% 20.24% p.a.
Purchases 1.69% 20.24% p.a.

Fees

Annual fee
$295 p.a.
Cash advance fee
2%
Dishonour fee
$6
Duplicate statement fee
$0
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$20
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
$0
Transaction verification fee
$0

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Earn rates

Spend typeSpend
Airline spend
Up to $3,000
0.75 pts per $1 spent
Above $3,000
0.5 pts per $1 spent
ResetN/A
Points capN/A

Rewards program basics

First purchase bonus
50,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$2,000 on eligible purchases in the first 3 months

Earning points with this card

Frequent flyer points
0.75 pts per $1 spent up to $3,000 then 0.5 pts per $1 spent Above $3,000
Overseas earn rate
Same as standard earn rate
Points cap per month
N/A
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
N/A

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Non-permanent resident with more than 9 months remaining on your Visa
Age Pension, Disability Pension and Veteran's Pension are acceptable.
Carer's Allowance, Child Support Payments and Family Tax Benefits and Parenting Payments are acceptable.
Joint applications are not allowed
Overseas Pension and Widower's Pension are not acceptable.
Austudy, Foster Care Allowance and Youth Allowance are not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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