The ANZ Rewards Card has a standard purchase rate of 18.79% so be diligent about paying your balance off in full each month. There is an $89 annual fee (waived in the first year) which comprises of a $34 annual account fee and a $55 rewards program services fee.
You'll get two cards on the one account with the ANZ Rewards credit card, a Visa and an American Express card. With the American Express card you will earn 2 points per dollar and with the Visa card you will get 1.5 points per dollar spent. You can transfer your points direct to airline frequent flyers programs or redeem points for a range of rewards including giftcards, merchandise or shopping rewards. There is no cap on the amount of points you can earn each year but be mindful that points will expire after 36 months.
If you plan to use your card overseas or with overseas retailers you will have to pay a 3% foreign currency conversion charge on every purchase.
Additional benefits of this card include exclusive offers with American Express Select and via Visa Entertainment.
The usual penalties apply for late payments ($20).
Who it's good for:
This is a rewards card for the card holder that likes to have options with how to spend their rewards.
Points expire after 36 months so if you are saving up the points for that extended overseas holiday, you'll need to spend up big to get enough points in time or transfer them across to an airline program that you can then redeem for a flight later on when you are ready to travel.