ANZ Frequent Flyer Platinum Credit Card

ANZ Frequent Flyer Platinum Credit Card

Highlights

  • Earn 70,000 bonus Qantas points and a $0 annual fee when you spend $2,500 on eligible purchases in the first 3 months from approval.
  • Earn 0.75 Qantas Points per $1 spent on eligible purchases (up to $3,000) then 0.5 Qantas Points per $1 spent, thereafter, per statement period.
  • Complimentary Qantas Frequent Flyer Membership.

Pros and cons

Pros

  • 70,000 bonus Qantas Frequent Flyer points.
  • $0 annual fee in the first year.
  • Earn 0.75 points per $1 spent up to $3,000 per statement period.
  • Comes with a number of complimentary insurances, including international travel insurance.
  • Up to 55 days interest-free on purchases.

Cons

  • The annual fee of $295 p.a. after the initial year is high.
  • Although uncapped, the earn rate drops to 0.5 points per $1 on any spend above $3,000 per statement period.
  • There is no balance transfer offer available.
  • It costs $65 p.a. per additional cardholder, which adds up.

Overview

The basics

  • Additional cardholders. Request up to 9 additional cardholders for friends and family. There is a $65 p.a. fee per card added, which means it could get quite expensive. Note that the account holder is responsible for managing the account and keeping it in good standing with regards credit limits and timely payments.
  • Digital wallets. You can use this card with all the major digital wallets including Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. You can use this card for purchases related to gambling. ANZ will apply the cash advance interest rate and fee for gambling transactions.

Rewards and benefits

  • Complimentary Qantas Frequent Flyer membership. Save on the membership fee (if you aren't already a member).
  • Complimentary travel insurance. ANZ Frequent Flyer Platinum Credit Card holders have access to complimentary international travel insurance, which will be active on trips where the card has been used to pay for travel costs. Cover includes interstate flight inconvenience, transport accident insurance, and rental vehicle excess. Check eligibility criteria.
  • Concierge services. Cardholders have access to the 24 / 7 concierge service for travel and lifestyle services. Useful for things like restaurant reservations, travel bookings, scheduling meetings, etc.
  • Insurances. Additional shopping-focused complimentary insurances include extended warranty insurance, fraud protection guarantee, price protection insurance, and purchase protection insurance. Check eligibility criteria.
  • Rewards points. Earn 0.75 Qantas Frequent Flyer points per $1 spent with no cap on the number of points you can earn. However, a tier is in place such that spend above $3,000 per statement period earns 0.5 points per $1 spent. Any transaction classed as a balance transfer, cash advance, or fee will not earn points. Payments to the ATO will also not earn points. There are alternative cards that do earn on ATO spend.
  • Sign up bonus. ANZ's signup bonus for the ANZ Frequent Flyer Platinum Credit Card is 70,000 Qantas Frequent Flyer points. To get the points, you need to make at least $2,500 of eligible purchases using the card within the first 90 days of approval.

Rates and fees

  • Annual fee. This card has no annual fee in the first year and $295 p.a. thereafter.
  • Balance transfers. There is currently no balance transfer offer on this card at this time. ANZ and many other banks have balance transfer offers you may consider.
  • Cash advances. Any cash advances made using this card will be charged interest at the rate of 21.24% p.a. ANZ will charge a cash advance fee as well as interest on any transactions classed as a cash advance.
  • Foreign exchange fee. Purchases made in a foreign currency while overseas or from an overseas online store are subject to a 3% fee.
  • Interest-free period. ANZ Frequent Flyer Platinum Credit Card holders get an interest-free period of up to 55 days on purchases — except for cash advances — if you have paid off your previous balance in full by the due date.
  • Purchases. There is no introductory offer for purchases. The standard ongoing interest rate for purchases of 20.24% p.a. will apply if not paid off in full.