What credit score do I need to get the ANZ Rewards Black Credit Card?

By   |   Verified by Yvonne Taylor   |   Updated 7th December 2021

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  • You need good credit score to qualify for this card.
  • The ANZ Rewards Black Card offers no annual fee in the first year, but a relatively high annual fee after that.
  • There is no specified minimum income requirement for this card.

The ANZ Rewards Black card has ANZ's highest reward-earning potential. Its unlimited and flexible rewards can be redeemed in a variety of ways. However, you should ensure you'll get enough value from this card when its high annual fee kicks in after your first year.

ANZ Rewards Black Credit Card

ANZ Rewards Black Credit Card

Balance transfer

N/A

Purchase rate

20.24% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Receive 180,000 bonus Reward Points and a $0 annual fee in the first year when you spend $2,000 on eligible purchases in the first 3 months from approval.
  • Earn 2 Reward Points per $1 spent on eligible purchases up to $5,000 per statement period
  • Free International Travel Insurance.

Who is the ANZ Rewards Black Card for?

The ANZ Rewards Black Card is for you if you are seeking to earn the highest possible rewards and bonus points, planning to regularly make use of the complimentary extras, and mean to pay off your balance in full at the end of each statement period to avoid the high interest rate on balances carried beyond the payment due date.

What credit score is needed for the ANZ Rewards Black Card?

ANZ only specifies that you need a good credit score. The range for good credit scores varies depending on the credit reporting body:

If you have a higher score, putting you in the ‘Very good’ or ‘Excellent’ bracket, so much the better. ANZ uses all three credit reporting bodies. Also, in general, ANZ says that eligibility depends on your not having applied for too many credit cards recently.

(See FAQs for more details on how credit reporting agencies calculate credit scores).

Tip

Tip

Check your credit score using Finty’s free credit score service.

How hard is it to get the ANZ Rewards Black Card?

To be eligible for the ANZ Rewards Black Card, you need to:

  • Be 18 years old or over
  • Be a permanent Australian resident, or if you are a non-permanent resident, have more than nine months left on your visa
  • Have a good credit rating

You don’t have to be an ANZ customer to apply for an ANZ credit card.

Key features and perks

  • Earn a huge number of bonus ANZ Rewards points by meeting a relatively modest spending target in the first three months.
  • Earn 2 points per dollar spent up to $5,000 per statement period and 1 point per dollar on payments over that limit.
  • No cap on reward points.
  • Flexible rewards points can be redeemed for frequent flyer points, gift cards or as ANZ cashback.
  • Purchases interest rate and cash advance rate are also high, as expected with a premium card.
  • Minimum credit limit: $15,000.
  • Add up to nine additional cardholders, by paying a small annual fee for each card.
  • Interest-free period on purchases: Up to 55 days
  • Seven complimentary insurance policies, including overseas travel
  • Access to exclusive invitation-only unique entertainment, food, and lifestyle events.

Fees

  • Annual fee: $0 first year, but a high fee thereafter.
  • Interest on purchases and cash advances: The usual high rate found on premium cards.
  • Supplementary cards incur a small annual fee.
  • Overseas transaction fees apply, both in-person and online.

Pros and cons

Pros

  • Huge number of bonus points for new cardholders who meet a reasonable spending target.
  • Attractive ongoing rewards: High points earning rate with threshold but no absolute cap.
  • $0 annual fee in the first year.
  • Flexibility for redeeming points: Points can be redeemed for gift cards, merchandise, flights and cashbacks, among other things.
  • Travel and other perks, including complimentary insurance cover.
  • Access to exclusive invitation-only events.
  • Longer Interest-free period on purchases: Up to 55 days, not the shorter 44 days some cards offer.

Cons

  • $0 annual fee reverts back to standard high fee after the first year.
  • Supplementary cards attract an additional annual fee.
  • High interest rates on purchases, balance transfers and cash advances.
  • Overseas transaction fees apply.

How do I apply?

You can apply online and it takes just a few minutes to complete the application if you have all your information at hand. Once you submit your application, you’ll get a response in under a minute with an online application reference number.

You may be contacted for more information, if necessary. If your application is approved, you will get your new card within five business days.

What information do you need to keep at hand when applying?

  • Your contact details
  • Your Australian driver’s licence
  • Details about your income, expenses, assets and debts
  • Two of the most recent pay slips to use for income verification
  • If self-employed, you may be asked for tax returns and your accountant’s contact details.

Alternatives

The ANZ Rewards Black Credit Card is not the only premium rewards card with travel-related benefits on the market. Before making your decision, it’s worth comparing it with the following alternatives.

NAB Qantas Rewards Signature Card

On NAB's website

Highlights

  • Earn up to 110,000 bonus Qantas Points. Receive 90,000 bonus points when you spend $3,000 in the first 60 days from account approval date and 20,000 bonus points when you keep your card open for over 12 months. Terms and conditions apply.
  • Enjoy 0% on balance transfers for 6 months with 2% Balance Transfer Fee.
  • Reduced annual fee of $295 p.a. instead of $395 p.a. (saving you $100).

Pros

  • Complimentary Qantas Frequent Flyer membership fee valued at $99.50.
  • Six complimentary insurances when you make an eligible purchase.
  • Earn 1 Qantas Point per $1 spent on everyday purchases up to $5,000 per statement period then 0.05 pts per $1 spent thereafter (capped at $20,000).

Cons

  • Annual fee of $395 p.a. is quite high.
American Express Explorer Credit Card

On American Express' website

Highlights

  • Receive 100,000 Bonus Membership Rewards Points when you apply online, are approved and spend $4,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.
  • Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
  • Earn 2 Membership Rewards points per $1 spent on purchases except government bodies in Australia where you will earn 1 point per $1 spent (uncapped).

Pros

  • The 100,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • $400 travel credit every year.
  • Get 2 complimentary airport lounge passes per year.

Cons

  • The $395 p.a. annual fee.
American Express Qantas Ultimate Credit Card

On American Express' website

American Express Qantas Ultimate Credit Card

Highlights

  • Receive 100,000 bonus Qantas Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only
  • Earn 1.25 Qantas Points for every $1 spent on card purchases, except spend at government bodies in Australia where you will earn 0.5 Qantas Points per $1 spent.
  • Save the offer to your eligible Card and get 3 extra Qantas Points per $1 spent, in-store or online at participating Shop Small businesses by 31/03/2022, up to a maximum of 40,000 extra Points. Exclusions apply.

Pros

  • The 100,000 bonus Qantas Points when you meet the criteria.
  • 2 complimentary Qantas Club lounge invitations each year.
  • $450 Qantas Travel Credit each year (conditions apply).

Cons

  • The annual fee of $450.
American Express Velocity Platinum Credit Card

On American Express' website

American Express Velocity Platinum Credit Card

Highlights

  • Receive 100,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only.
  • Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year.
  • Enjoy 2 complimentary Virgin Australia lounge passes each anniversary year at selected domestic airports.
Westpac Altitude Black Credit Card (Altitude)

On Westpac's website

New offerApply by 24 February 2022

Westpac Altitude Black Credit Card (Altitude)

Highlights

  • Receive 180,000 Altitude bonus points when you spend $6,000 on eligible purchases within 120 days of card approval. Exclusions apply
  • Transfer your balance at 0% p.a. for 24 months (1 % balance transfer fee applies). Reverts to cash advance rate of 21.49% p.a.
  • $99 p.a. annual fee for the first year ($250 p.a. annual fee thereafter).

Pros

  • 180,000 bonus Altitude Points when you spend $6,000 in 120 days.
  • 0% p.a. for 24 months on balance transfers.
  • Additional savings with the $99 first-year annual fee ($250 p.a. thereafter).

Cons

  • The high annual fee of $250 p.a. after the initial year.
St.George Amplify Signature Credit Card (Amplify)

On St.George's website

Apply by 24 February 2022

St.George Amplify Signature Credit Card (Amplify)

Highlights

  • Earn up to 200,000 Bonus Amplify Rewards Points over 2 years when you spend $12,000 on eligible purchases each year. Plus, receive a birthday points bonus of 10% of the points earned in the last 12 months.
  • 0% p.a. for 24 months on balance transfers with 1% balance transfer fee on amounts transferred.
  • Includes complimentary overseas travel insurance for up to 6 months

Pros

  • The 200,000 bonus Amplify Rewards Points.
  • 0% p.a. for 24 months on balance transfers.
  • Includes complimentary overseas travel insurance for up to 6 months

Cons

  • There is a 1% balance transfer fee.
  • The ongoing annual fee is high at $279 p.a.

FAQs

How do I improve my credit score?

If you have a credit card, using it responsibly is a good way to build up your credit score. This will help you get better deals for credit cards and other financial products. Irresponsible use of credit cards can damage your credit score.

Here are some ideas on how to improve your credit score over time:

  • Check your credit file by checking your score.
  • Go through the credit report periodically to see that it is fair and accurate.
  • Remove any significant inaccuracies from your credit report.
  • Use services offered by your bank such as automated payments to avoid penalties.
  • Have a credit card and keep your debt-to-credit ratio low by using less than your total available credit. Instead of always borrowing up to the credit limit, you may want to ask for an increased credit limit and borrow well below that limit to improve your credit score.
  • Avoid applying for too many credit cards at once.
  • Make timely payment on your loans and credit card and avoid penalties.
  • Be reliable and prompt with payments to demonstrate your creditworthiness to potential lenders.
  • Using different types of credit responsibly – such as car loans, home loans and credit cards – will help raise your credit score.
  • Instead of closing rarely used credit cards, keep the account open. (Check the annual fees first!)
  • Avoid changing jobs and houses frequently because it comes out as a sign of instability and lack of staying power.
Tip

Tip

Learn more ways to improve your credit score with our handy guide.

What are credit reporting bodies?

Credit reporting bodies or agencies are independent organisations that use secure means to gather and distribute credit and personal information about people and businesses to financial institutions. These reports are used by banks and other lenders in making their lending decisions.

What is a 'good' credit score in Australia?

Different credit reporting bodies – illion, Equifax and Experian – use different credit scoring systems. Experian and illion use a system where the highest score is 1000. Equifax has a top score of 1200.

Here's how they define good, very good and excellent credit scores for Australians:

BureauGoodVery goodExcellent
Equifax622-725726-832833-1200
Experian625-699700-799800-1000
illion500-699700-799800-1000

What credit reporting bodies does ANZ use?

ANZ gives information to, and uses information from, three credit reporting bodies in Australia: Equifax, illion and Experian.

My application for a card was declined. Will this affect my credit score and report?

Declined loans and credit applications will affect your credit score because they were most likely preceded by a ‘hard enquiry’ on your credit file from the card issuer. Such enquiries may lower your score by one to five points, but will only impact your credit score for about a year. However, this record will remain in your credit file for two years. That is why ANZ Rewards Black Card and other credit cards from ANZ (and most other credit card companies) say that not applying for multiple credit cards recently is an eligibility criterion.

What are ‘everyday purchases’?

When credit card companies say ‘everyday purchases’ they are referring to general living expenses and meal and entertainment expenses.

Basically it includes things people spend on regularly, such as:

  • Your weekly groceries
  • Fuel expenses for your car
  • Telephone, gas and electricity bills
  • Water rates and council rates
  • Movie tickets
  • Shopping for clothes
  • Subscriptions for internet, streaming services, mobile phone plans, magazines
  • Gym membership
  • Insurance for health, life, car, home, pets etc.

Are there some things I can't use my card for?

ANZ credit card conditions of use say that the following transactions/payments may be blocked:

  • Gambling transactions
  • Transactions that may breach any laws or regulations in Australia or any other country
  • Transactions that involve ‘any person (natural, corporate or
  • governmental) that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by the United Nations, the European Union or any country’.
  • Transactions that may directly or indirectly involve the proceeds of, or be applied for the purposes of, unlawful conduct.