ANZ Rewards

18.79% p.a.

$80

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ANZ Rewards Review

Rates and fees information correct as at 26 September 2016.

Review published: 19 December 2012

What's hot:

  • Mozo Experts Choice Awards Winner 2015

  • 25,000 bonus Rewards points

  • Uncapped points

What's not:

  • Points expire after 36 months

Mozo snapshot:

Taking out an award for Best Rewards Credit Card in the Mozo Experts Choice Awards 2105 , the ANZ Rewards credit card is a great all round rewards card offering cardholders the option to redeem their points for flights, travel, gift cards and merchandise. The card comes with both a Visa and an American Express card and you'll receive 25,000 bonus Rewards points after you've made an eligible purchase within the first three months.


Key features:

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 $80 annual fee which comprises of a $25 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 1.5 points per dollar and with the Visa card you will get 0.75 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.

Any catches?

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.

How are ANZ credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
6.9

Based on 1932
ANZ credit cards reviews

5.9 6.1 7.0 7.5 7.2

Read ANZ credit card reviews by the Mozo community

Latest reviews of ANZ Rewards

ANZ

ANZ Rewards credit card review

Overall rating   7 / 10

Safe banking, love the rewards program

Don't like the interest rate. Happy with the ATM locations and rewards program is great.

Full review

Don't like the interest rate. Happy with the ATM locations and rewards program is great.

    Price   3 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Anthony (VIC), reviewed 6 months ago

ANZ

ANZ Rewards credit card review

Overall rating   8 / 10

Good selection of rewards per spend, lowish rates.

I have a low rate credit card that offers rewards with spending, which I'm pretty happy with. A few times I've been late with payments, but the staff in my branch have waived fees for me on several occasions (I've been banking with them for a long...

Full review

I have a low rate credit card that offers rewards with spending, which I'm pretty happy with. A few times I've been late with payments, but the staff in my branch have waived fees for me on several occasions (I've been banking with them for a long time). I'm always hesitant to recommend credit cards to people, but for myself I'm happy with the service all around.

    Price   7 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Henry (VIC), reviewed 7 months ago

ANZ

ANZ Rewards credit card review

Overall rating   10 / 10

Friendly, helpful and professional

Always helpful and have been very good at keeping me updated. Also had excellent experiences with security issues.

Full review

Always helpful and have been very good at keeping me updated. Also had excellent experiences with security issues.

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Beth (WA), reviewed 7 months ago

ANZ

ANZ Rewards credit card review

Overall rating   10 / 10

Competitive and always available

Reliable and approachable

Full review

Reliable and approachable

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Rhonda (WA), reviewed 7 months ago

ANZ

ANZ Rewards credit card review

Overall rating   3 / 10

Trust the bank, hate the fees and charges

Overall trust is good but fees and reward system is not good

Full review

Overall trust is good but fees and reward system is not good

    Price   2 / 10

    Features   3 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Joanne (SA), reviewed 7 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Revealing rewards

How do we do it?

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.

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 Velocity, Air New Zealand or KrisFlyer.
  • Earn bonus points at over 30 bonus partners.

Special offers

  • Receive 25,000 Rewards Points when you make an eligible purchase within the first 3 months.

Value of rewards points

  • Need to spend $33,333 (Visa) or $16,667 (Amex)

  • Need to spend $29,633 (Visa) or $14,817 (Amex)

  • Need to spend $20,800 (Visa) or $10,400 (Amex)

  • Need to spend $318,933 (Visa) or $159,467 (Amex)

  • Uncapped

  • 36 months

Details behind our 'value of rewards' calculations

  • 1.5 points per dollar on Amex, 0.75 points per dollar on Visa, uncapped

  • 25000 points buys a $100 credit

  • 22225 points buys a Myer $100 Gift Card

  • 1 points buys 0.5 Velocity Points; 7800 Velocity Points buys a Virgin Australia Syd-Mel flight

  • 1 points buys 0.5 Velocity Points; 119600 Velocity Points buys a Velocity partner London flight

* How did we do it? Find out...

Rates

  • 18.79% p.a.

  • none

  • none

  • none

  • 20.99% p.a.

  • 44

Fees

  • $80.00

  • none

  • none

  • $0.00

  • $20.00

  • 2%

  • 3.00%

  • $0.00

  • $0.00

  • $65.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 3

  • none

  • none

About ANZ

ANZ is one of the largest companies in Australia and New Zealand, with a history that stretches back over 170 years. The bank offers a range of banking and financial products to more than 5.7 million retail customers, including home loans, credit cards and debit cards, personal loans, savings and banking accounts and personal insurance. And now, with its new mobile banking application, ANZ goMoney, it's easier to do banking on the go.

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