Purchase rate
20.24% p.a.
Balance transfer rate
No current offer
Annual fees
Interest free days on purchases

Mozo editorial review ANZ Rewards Black - last updated: 28 April 2022

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What's hot
  • 2021 Mozo Experts Choice Award
  • 80,000 Reward Points when you spend $2,000 on eligible purchases in the first 3 months
  • ANZ's highest rewards earn rates
What's not
  • $375 ongoing annual fee
Mozo snapshot

If you're after a slick addition to your wallet, the 2021 Mozo Experts Choice Award-winning Rewards Black credit card from ANZ could be worth considering. It comes with ANZ's highest rewards earn rates (2 Reward Points per $1 up to $5,000 per statement period, then 1 point per $1 afterward), and complimentary international and domestic travel insurance. There's also 80,000 bonus Reward Points on offer after you spend $2,000 on eligible purchases in the first 3 months.

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Key features

You will be on your way to rewards goodness faster with an ANZ Rewards Black card in your wallet. You can bag 2 Reward Points for every $1 spent, up to the first $5,000 spent each statement period, then 1 point on every $1 spent after that.

The standard interest rate of the Rewards Black card is 20.24% p.a. but if you pay off your balance in full each statement period you will get up to 55 days interest free.

The annual fee is a steep $375, so you'll need to make sure you are getting value from the card's added extras such as domestic and international travel insurance, personal concierge, and the Visa Entertainment program.

As far as the rest of the rewards program goes, the ANZ Rewards Black offers you the most flexibility. You can choose to use your Reward Points to redeem flights, shopping rewards or cash back. Plus, after $2,000 of eligible purchases spend within 3 months of getting the card and you'll also score 80,000 Reward Points - not too shabby!

The insurances that come standard with the card are second to none, and include extended warranty, purchase protection and a guaranteed pricing scheme - which is why it was award 2021 Mozo Experts Choice Awards for best Premium Card Benefits. You can also use Visa payWave for purchases under $100. 

If you are using the ANZ Rewards Black overseas, keep in mind there is a 3% foreign exchange margin.

Keep in mind, eligibility criteria, T&Cs, fees and charges apply.
Who is it good for

The ANZ Black is a good rewards card any permanent Australian resident or a non-permanent resident with more than 9 months remaining on their Visa, who is over 18 years of age with a good credit rating who will regularly use the Card's 'complimentary extras' and pay off their balance in full each statement period.

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Any catches

Reward Points are tiered so you'll earn less after the first $5,000 spend - and they do expire after 36 months. So unless you are spending lots of money on the card each month, be careful storing your points for that free flight to London or they could expire before you get to take off.

Rewards program details

Rates and fees information correct as at 16 August 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

318,000 points

Fly Sydney to Melbourne one-way

15,600 points

$100 Giftcard

22,225 points

$100 Cash

25,000 points

Points earning

2 points per dollar on Visa, up to $5,000 per month, then
1 point per dollar on Visa, uncapped

Rewards scheme

Transfer points to a range of airline programs or redeem your points for travel, gift cards, retail rewards and shopping gift cards.

You can get flights via Air New Zealand, Singapore Airlines KrisFlyer, or Asia Miles.

Earn bonus points at over 30 bonus partners.

Special offers

Receive 80,000 bonus Reward Points if you spend $2,000 on eligible purchase in the first 3 months.

Value of rewards points

Spend $12,500 (Visa)

Spend $11,113 (Visa)

Spend $7,800 (Visa)

Spend $258,000 (Visa)


36 months

How do we calculate these points?
How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.


Rate and fee details


20.24% p.a.


No current offer


21.24% p.a.

















Annual Fee $300 waived for the first year and Reward Fee $75 per card waived for the first year.

Payment options

Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit

Rewards privileges


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