ANZ Rewards Black Credit Card

Offer
Card features
balance transfer
purchase rate
annual fee
Apply
75,000 points and $100 back when you make one eligible purchase in the first 3 months.
Free international travel and medical insurance.
Eligibility criteria, T&Cs, fees and charges apply.
Add to comparison
-
18.79% p.a.
ongoing
$375
ongoing

Pros & cons

What's good?

What's not so good?

75,000 points and $100 back when you make one eligible purchase in the first 3 months.
Earn 2 Reward Points per $1 spent on eligible purchases up to and including $5,000 per statement period.
The complimentary insurances for travel and purchases are good value.
Be rewarded with Exclusives by ANZ, access to invitation-only, once-in-a-lifetime experiences.
Google Pay™, Samsung Pay™ and Apple Pay let you use your compatible Android or Apple device to tap and pay.
Eligibility criteria, T&Cs, fees and charges apply.
The interest rates are up at the high end of the market.
1 Reward Point per $1 spent on eligible purchases above $5,000 per statement period.

Our review

Our review of the ANZ Rewards Black Credit CardReviewed by Yvonne Taylor

If you’d like to earn rewards on your substantial credit card spending but don’t expect to need frequent flyer points because you never fly at your own expense, then the ANZ Rewards Black Credit Card may be just what you’re looking for. While frequent flyer points are almost always far better value than ordinary rewards points, they’re worthless if you can’t use them. This rewards card is packed with other benefits too, including first-purchase bonus points and cashback.

Lower annual fee than the corresponding frequent flyer card

The $375 p.a. annual fee (plus $65 p.a. per additional cardholder) is lower than the charge for the ANZ Black Frequent Flyer Card (probably in recognition of the lower value of rewards points compared with frequent flyer points) but it’s still reasonably steep. You can recoup the cost, however, if you take full advantage of the extras, especially in the first year. You’ll need a minimum income of $75,000 to qualify for the card.

Unattractive interest rates

The purchase interest rate on unpaid balances is a high 18.79% p.a. (20.99% p.a. for cash advances), but holders of black credit cards will mostly plan to avoid interest charges by paying off their account balance in full every month.

First year extras

There are two major bonuses on offer, in the first year only.

One, you’ll get 75,000 points if you make at least one purchase, no matter how small the amount, in the first three months. This is a target much easier to achieve than the $3,000 or even $5,000 required spending set by some competing cards, before bonus points can be earned.

Two, you’ll also get $100 cashback for making that same single purchase, effectively reducing the annual fee to $275 in the first year.

Attractive points earning rate

Since this is a Visa card, not an Amex card, you’d be forgiven for assuming that the points earning rate was modest. However, whilst it’s not spectacular, it is certainly appealing, at 2.0 points per dollar up to a threshold of $5,000 per monthly statement period.

Beyond $5,000 it does fall somewhat dramatically to only 1 pt per $1 spent, but there’s no absolute cap, no zero points drawback if you can pull off a major purchase on your credit card. Every eligible purchase, no matter how large, will earn points.

Bonus points mall

You can give your points balance a quick boost of up to 10 points per dollar spent at ANZ Rewards bonus points partners. Stores include David Jones, Marcs, Country Road, Dan Murphy’s online, Apple.com and many more.

Using the rewards points

As the card’s name implies, you’ll be collecting points for the in-house rewards scheme, ANZ Rewards. There are five ways to redeem them.

  • Direct exchange for a range of products, including homewares, toys, travel, entertainment, fashion and beauty, financial services and technology.
  • Exchange for gift cards to spend at major retailers including Woolworths, Myer, David Jones, Bunnings, JB Hi-Fi and many more.
  • Redeem against flights with 26 airlines worldwide.
  • Convert rewards points to frequent flyer points with four airlines: Virgin, Singapore Airlines, Cathay Pacific and Air New Zealand.
  • Take the points as an ANZ Cashback, a dollar value credit to any ANZ account, including your credit card account.

It’s worth taking a look at each of these redemption methods in more detail.

  • Direct exchange for products

ANZ Rewards offers a range of products that you might find at a typical department store, plus a variety of experiences and services. You could, for example, purchase a Delonghi Nespresso Inissia Coffe Machine in exchange for 50,280 points (the result of a $25,140 spend if the monthly threshold is not exceeded). Or you could buy it on eBay for $123, making the value of the points 0.5 cents per dollar spent.

  • Exchange for gift cards

You can exchange your points for gift cards to spend at major retailers, or on car hire and hotels, or even use as charity donations. A $20 Woolworths or Myer gift card will cost you 4,445 points, resulting from $2,223 worth of below-the-threshold purchases, an equivalent value of 0.9 cents per dollar spent.

  • Airline flights

A Sydney/Melbourne one-way economy flight on Qantas costs a minimum of 32,210 rewards points, earned by spending $16,105. This works out at 1.2 cents per dollar, so it’s definitely better value than gifts or gift cards. However, you’d be better off opting for the ANZ Frequent Flyer Black card and spend only $8,000 to accrue the 8,000 QFF points required for the same flight.

  • Convert to frequent flyer points

ANZ Rewards points can be converted to points with Virgin Velocity, Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Air New Zealand Airpoints. Once again, if frequent flyer points are your aim it would make more sense (and cents) to use a frequent flyer credit card, although having four airlines to choose from does provide some flexibility.

  • ANZ Cashback

You can convert your reward points to a cash credit against any ANZ account, including your credit card or a mortgage offset account. You’ll need 12,500 reward points for each $50 credit to your account, requiring a $6,250 spend and working out at 0.8 cents per dollar, slightly less value than a shopping gift card.

The redemption methods come with a 'Points plus Pay’ option, meaning that you can pay with a combination of points plus a cash debit to your credit card if you have insufficient points.

Rewards points expire if not used within three years, and also expire within 60 days if you close the
credit card account on which you earned them.

Other built-in benefits

As you would expect with a black card, there is a range of complimentary benefits to offset the high annual fee:

  • International airport lounge access

Show your ANZ black credit card and your flight ticket for unlimited free admission to Veloce airport lounges at overseas terminals. This service is not available for domestic travellers.

  • Personal concierge service

A black credit card holder might find occasion to use the card’s global 24/7 personal concierge service for assistance with travel, entertainment and restaurant bookings.

  • Visa Entertainment

Make use of Visa Entertainment’s pre-sale tickets and special offers in travel, leisure and dining.

  • Exclusives by ANZ

This is yet another layer of special privileges. Past events include an Archibald Prize Dinner, an Australian Open Ultimate Experience and The Ultimate Insider Experience at the Formula 1 Grand Prix.

  • A wide range of insurance cover

QBE annual multi-trip international travel insurance for the cardholder and immediate family, covering items like medical expenses, theft, loss and damage of property and car rental excess. For regular travellers this is worth at least $750 a year. Activate the insurance cover by using the card for at least $250 of each trip’s expenses for each traveller to be covered.
Interstate flight inconvenience cover, for flight delay, luggage delay, personal property cover, car rental excess.
Transport accident insurance. Compensation for serious accidents on public transport.
Extended warranty. Up to 12 months on top of existing manufacturer’s warranty.
Purchase protection. 90 day cover on card purchases against loss, accidental damage and theft.
Price protection. Price difference refunded if you find the identical product (purchased in a bricks-and-mortar store) cheaper elsewhere locally within 21 days.

Competing cards

If you’re committed to Qantas and can justify the higher fees for earning direct QFF points at a faster rate, compare the ANZ Frequent Flyer Black Credit Card or the Westpac Altitude Black Credit Card. But if you’d prefer a wider range of reward options, take a look at the St. George or Bank of Melbourne Amplify Signature Credit Cards.

A card designed for . . .

The ANZ Rewards Black Credit Card is ideally suited for the big spender who would like to see some benefit for channelling expenditure through a card, but isn’t a committed frequent flyer points collector. In the first year the 75,000 points (worth $375 p.a. in Flight Centre gift cards), plus the $100 cashback, add up to $100 more than the annual fee, meaning that you are actually paid to be a cardholder. In subsequent years the complimentary insurance policies and lounge access easily offset the otherwise high annual fee.

User reviews

4.0 out of 5.0 based on 4 reviews75% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Great earnings potential

Reviewed and recommended by James on 03 Jul 2016

Pros are that you get a Visa and companion AmEx card. The AmEx earns 3 points per dollar spent, making a $100 gift card redemption work out to be around 22,225 Rewards points. The card includes the usual travel insurance, and purchase protection, etc. There’s a sign up bonus point offer too.

On the downside, ANZ recently reduced the Visa earn rate per dollar spent to 1.25 points (down from 2 points per dollar spent).

They upgraded me with the promise of offers

Reviewed and not recommended by Linda on 02 Jul 2016

The card offers entry to airport lounges worldwide, but when we attended they said that this was no longer available. I am paying a much higher fee than platinum and I can see the difference that it makes to me.

I also don’t like the fact that when you call them it is an overseas call centre. I thought my card had been fraudulently used and they had no idea what was going on.

Great bonus points and points per dollar

Reviewed and recommended by Matthew on 06 Dec 2016

The ANZ Rewards Black Credit Card has been really great for my purposes. The initial bonus of 75K QFF points was a great bonus, but the points per dollar rewards are also at a good rate. On top of that, the free Qantas lounge passes were really easy to obtain (just a quick phone call) and were delivered quickly.

The sleek, black look and choice of AmEx or Visa is very convenient. I highly recommend this card, especially during the promotion periods where the first year’s fee is dropped.

Good value for rewards

Reviewed and recommended by Robert on 31 Jul 2016

Good value rewards and points earned (more than 1 per dollar spent). Good choice of reward options, although gift and shopping vouchers are the best value when redeemed, comparing points for dollar value, rather than redeeming for actual physical items. Not the cheapest annual fee but average for platinum type cards.

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
Black
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$75,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
ANZ Rewards
Temporary residents
Yes

Cardholders

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

Credit limits

Minimum credit limit
$15,000
Maximum credit limit
$75,000

Repayments

Interest charged from
Purchase Rate
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.75% 20.99% p.a.
Purchases 1.57% 18.79% p.a.

Fees

Annual fee
$375 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 $5,000
2 pts per $1 spent
Above $5,000
1 pt per $1 spent
ResetN/A
Points capUnlimited

Rewards program basics

First purchase bonus
75,000 points
Reward points expiry
36 months from when the points were earned
Rewards program
ANZ Rewards
Spend required for bonus points
first eligible purchase in 3 months

Earning points with this card

Frequent flyer points
2 pts per $1 spent up to $5,000 then 1 pt per $1 spent Above $5,000
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
Yes
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,373

ShoppingEstimated value
Extended warranty
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.
$50
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.
$10
Purchase protection
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.
$40
Travel
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
$290
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
$32
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Total estimated value$1,373
Annual fee$375
Net customer value$998
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $75,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Veteran's Pension are acceptable.
Overseas Pension and Widower's Pension are not acceptable.
Carer's Allowance, Child Support Payments and Family Tax Benefits and Parenting Payments are 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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