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

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

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What's hot
  • 50,000 bonus Reward Points when you spend $1,000 on eligible purchase in the first 3 months
  • Uncapped points
  • 55 interest free days on purchases
What's not
  • Points expire after 36 months
Mozo snapshot

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. You can also bag 50,000 bonus Reward Points when you spend $1,000 on eligible purchases in the first 3 months, just keep in mind there is an annual $55 rewards program service fee and a $25 annual discount fee consider.

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Key features

The ANZ Rewards Card has a standard purchase rate of 20.24% so be diligent about paying your balance off in full each statement period. There are two annual fees; the $25 annual account fee and a $55 rewards program services fee. 

As for rewards, you'll earn 1 Reward Point per dollar on your first $1,000 spend each statement period, then 0.5 points uncapped after that. You can transfer your Reward Points direct to airline frequent flyers programs or redeem them for a range of rewards including gift cards, merchandise or shopping rewards. There is no cap on the amount of points you can earn each year but be mindful that they 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 via Visa Entertainment, and if you spend $1,000 within the first 3 months you'll also score 50,000 bonus Rewards Points. What's not to like?

The usual penalties apply for late payments ($20) and keep in mind, eligibility criteria, T&Cs, fees and charges apply.

Who is it good for

This is a rewards card for the card holder that likes to have options with how to use their points. To qualify, you'll need to be 18 or over, and be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your Visa.

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Any catches

Reward Points expire after 36 months of the 31 December of the year the points were accrued. So if you are saving up 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.

Rewards program details

Rates and fees information correct as at 30 June 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

1 point per dollar on Visa, up to $1,000 per month, then
0.5 points 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, KrisFlyer or Cathay Pacific Asia Miles.

Earn bonus points at over 30 bonus partners.

Special offers

Receive 50,000 bonus Reward Points if you spend $1,000 on eligible purchase in the first 3 months.

Value of rewards points

Spend $38,000 (Visa)

Spend $32,450 (Visa)

Spend $19,200 (Visa)

Spend $624,001 (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.


















Payment options

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

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