ANZ Rewards Credit Card | Review & Feature Comparison

ANZ Rewards Credit Card

My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
ANZ Rewards Credit Card
25,000 points when you spend $1,000 on eligible purchases in the first 3 months.
An easy to manage credit limit from $1,000.
Earn ANZ Rewards Points on everyday purchases.
Add to comparison
ANZ Rewards
ANZ Rewards
1 pt
per $1 spent
up to $1,000
then 0.5 pts
above $1,000
More info
25,000
points

Pros & cons

What's good?

What's not so good?

25,000 points when you spend $1,000 on eligible purchases in the first 3 months.
An easy to manage credit limit from $1,000.
Earn ANZ Rewards Points on everyday purchases.
Earn 1 Reward Point per $1 spent on eligible purchases up to and including $1,000 per statement period.
Google Pay™, Samsung Pay™ and Apple Pay let you use your compatible Android or Apple device to tap and pay.
Annual fee of $80 p.a.
0.5 Reward Points per $1 spent on eligible purchases above $1,000 per statement period.
Points expire 36 months after the date the points were earned.
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.

Our review

Our review of the ANZ Rewards Credit CardReviewed by Yvonne Taylor

The appeal of collecting reward points can be diminished by the hassle of having to keep track of them, remembering to redeem them, and choosing something you’d actually like to exchange them for. But with the ANZ Rewards Credit Card you can set and forget. The auto redemption facility allows you to select a permanent reward choice, so that movie tickets for example, or a shopping card for your favourite store, will automatically turn up in your mailbox whenever you have accumulated enough points. And, just to get you used to the idea of automatic earning, spending just $1,000 on card purchases during the first three months will earn you 25,000 bonus points.

Reasonable annual fee for a rewards card

There are very few rewards cards with no annual fee attached, and this isn’t one of them. However, for your $80 annual fee ($25 for the card and $55 for the rewards program) you should be able to earn enough points in the ANZ Rewards program to offset the cost before the year is through. After that, it’s all positive territory.

Supplementary cards (you can have up to three) allow trusted family members to help you accumulate reward points. But since you will pay $65 for each additional card, you will want to be sure that every one of them will see enough use to justify the cost.

Moderate points earning rate

A card’s points earning rate needs to be measured not just by the number of points earned per dollar, but by what those points will actually buy. That is, how many cents per dollar spent are returned to the cardholder in the form of rewards?

The ANZ Rewards Credit Card allows users to earn 1.0 points per dollar spent on the card, up to a threshold of $1,000 per monthly statement period. After that, the rate drops to 0.5 points per dollar, but there is no absolute cap on points, so no limit to the number of points you can earn.

This translates into a reasonably competitive return of between 0.7 and 1.0 cents per dollar for airline flight rewards, or 0.5 cents per dollar for movie tickets, shopping vouchers and hotel stays. (If your spending exceeds $1,000 per month, the rate of return would be less than this, however.)

25,000 bonus points just for using the card for everyday expenses

Provided you make at least $1,000 worth of purchases in the first three months of holding the card, you’ll not only earn regular rewards points, you’ll also receive the very welcome gift of 25,000 bonus points. These can be exchanged for $100 back on your account or slightly more than $100 in retail gift cards. This will more than cover your first year annual fee.

What can you do with your ANZ Rewards points?

ANZ Rewards offers a wide range of redemption options. As well as the movie tickets, store gift cards and hotel stays already mentioned, you can also exchange points for holiday packages, the latest technology, fashion and beauty products, wine, household goods and appliances, and much more.

If you already belong to a frequent flyer program with Virgin Australia, Air New Zealand, Singapore Airlines or Cathay Pacific, you can exchange your ANZ Rewards Points for points with these airlines. The current exchange rates per 1,000 ANZ Rewards points are:

  • 500 Virgin Velocity Points
  • 5 Air New Zealand Airpoints Dollars
  • 333 Singapore Airlines KrisFlyer Miles
  • 333 Cathay Pacific Asia Miles

You can also choose to convert your points into a money back to your card on any ANZ account, including your credit card account. This option is worth 0.4 cents per dollar spent if you don’t exceed the $1,000 per month spending threshold, but in order to offset the primary card fee, you would need to spend an average of $2,333 per month (this earning 28,000 points). Exchanging for airline points is more cost effective.

Too many choices? Remember the auto redemption option, which lets you choose a constant reward (including exchanging for airline points) which just keeps turning up without any extra effort on your part.

Unexceptional interest rates

The attraction of this card is the rewards, first and foremost. It’s not about low interest rates, or interest-free periods on balance transfers or purchases. Neither of these last two options is available, and the interest rates – 20.24 percent p.a. for purchases and cash advances – are only slightly lower than the rates charged by premium cards. Avoid paying interest by clearing your balance in full, on or before the payment due date.

The monthly interest-free period on purchases is now more generous which is up to 55 days as offered by many cards.

A few extras

There are no complimentary insurance policies attached to what is, after all, a basic card if you take away the rewards points. But as a Visa cardholder you will be given access to Visa Entertainment, for special leisure, travel, dining and shopping privileges.

ANZ also promises worldwide emergency credit card replacement and protection from fraudulent transactions provided by ANZ Falcon monitoring and the ANZ Fraud Money Back Guarantee.

The latest technology

Turn your smartphone into a digital wallet by downloading the appropriate app. You can choose from Apple Pay, Google Pay and Samsung Pay, to tap and pay securely or access smart ATMs with your phone while leaving your credit card at home.

Before you make your decision . . .

. . . you should probably consider some other cards with similar features. If you are looking for a Visa rewards card then take a look at the Virgin Australia Velocity Flyer Credit Card and the HSBC Platinum Credit Card, among others that you will find on the All Rewards page in our Features section.

A point-collecting beginner’s card

The ANZ Rewards Credit Card is an ideal card for anyone starting to find their feet in the world of rewards points. With a minimum credit limit of $1,000 plus auto-redemption options, it’s a perfect starter card, with the added benefit of no unnecessary extras to pay for. Those 25,000 bonus points will sweeten the deal.

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

3.6 out of 5.0 based on 20 reviews75% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

It's made me grow up

Reviewed and recommended by Nathan on 28 Sep 2016

My card has made me grow up, so to speak. In saying that I mean it’s made me become more wise and aware of the value of money, and be a lot smarter with managing the responsibility of money and spending and saving and so on. Also, it’s made me appreciate not having to stress and worry when times are tough and funds are exhausted and non-existent.

Thank you for giving me the opportunity to supply my opinions and feelings towards this topic :)

Rewards but high fees

Reviewed and not recommended by Isabella on 24 Sep 2016

I was attracted to this card because of the rewards they claim you can get. However I did not know that although ANZ may give rewards on the account, they charge extra fees at the same time. I guess theres no such thing as free rewards. ANZ needs to consider amending the card name to: Rewards With High Fees Card.

Happy with points and timely information

Reviewed and recommended by Anup on 22 Sep 2016

The bank provided me with the credit card when i was in need. It’s easy to use, there’s good support and I will always remain loyal to the ANZ Bank.

I have not yet tried any other products, but i am happy with the credit card points and timely information. The credit card also comes with an AmEx card, which is handy and provides more points on purchases.

Great simple rewards card for everyone

Reviewed and recommended by Amy on 02 Aug 2016

The ANZ Rewards Visa has a great selection of rewards available for any situation or destination. It’s also very easy to redeem points and ANZ have been very good to deal with in relation to any concerns etc, and so have the Falcon team.

The only real request I have is to lower the interest rates, haha.

Comes with an AmEx for the same account too, which is great points-wise. One happy customer here.

Those interested should apply as its a great card. Online applications are approved quite quickly, which makes it an easy process too.

Thanks ANZ, great job.

Fees go up and rewards go down

Reviewed and not recommended by A on 03 Jul 2016

Last time they reduced the earn rate on the AmEx card from 3 points down to 2 and on the Visa from 1.5 down to 1. In doing so they reduced your reward power by 1/3. They also increased the cost of rewards. A $100 cashback went from 20,600 points to 25,000 points in order to claim a reward. The fees stayed the same at a total of $160. Amazing what these bankers will do.

Okay card

Reviewed and not recommended by Deanna on 27 Jun 2016

The card and rewards system are pretty good, but I find if you are even a day behind on a payment their call centre can get rather harassing and they are all Indian based, which is annoying, especially from a company that is supposed to service Australia and New Zealand.

Not as good as it was

Reviewed and recommended by Jill on 25 Jun 2016

I’ve had this card for many years and although I now need more points to claim the same rewards, I still find it beneficial.

I am on the pension and need to watch every cent. I can access both credit and my own bank account with the same card and this makes it very easy to use. Although the interest rate is high—if not paid of each month—by using credit for every possible transaction I build up points to contribute cash back towards my balance. I basically use it as cash as I continually pay money onto it over the month, but it does give me that back up if I need to purchase something on the spot that I don’t have enough cash in the bank to cover the purchase.

Generally pleased with this card

Reviewed and recommended by Sue on 23 Jun 2016

I used this card while travelling overseas with no problems. ANZ security is very good—I have had calls to check when it is being used for something out of the ordinary to check that everything is as it should be. The fees are no better or worse than most other cards, and the rewards program is not too bad either.

Easy, convenient and rewarding

Reviewed and recommended by Pheona on 27 Sep 2015

Personalised service at all times with customer service that’s always delivered with a smile. Pleasant understandable phone conversation exchanges with a positive result every time. It’s easy to use with the convenience of being an all rounder card, and I’m getting rewards and bonus givebacks to the customer. Win win all round.

I save a lot of money with this card

Reviewed and recommended by Anon on 22 Aug 2015

I like the way you get extra rewards from buying at certain shops, which mean you have to shop around a lot to get the good deals. I personally like that. I also like the way the card looks: it is stylish, and they have put a lot of thought into how it looks. I also like the interest rates.

Show 10 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
Standard
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
ANZ Rewards
Non-Permanent Australian residents
Yes

Cardholders

Additional cardholders
3
Additional card fee
$65 p.a.

Credit limits

Minimum credit limit
$1,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
whichever is greater, $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
$80 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 $1,000
1 pt per $1 spent
above $1,000
0.5 pts per $1 spent
ResetN/A
Points capN/A

Rewards program basics

First purchase bonus
25,000 points
Reward points expiry
36 months from when the points were earned
Rewards program
ANZ Rewards
Spend required for bonus points
$1,000 on eligible purchases in the first 3 months

Earning points with this card

Frequent flyer points
N/A
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
No
Complimentary flight voucher
No
Concierge service
No

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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