Review: ANZ Frequent Flyer Black

By Chris Chamberlin, December 6 2017
ANZ Frequent Flyer Black
Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

Notes
The Good
  • Earn 1 Qantas Point per $1 spent, up to $7,500 per statement period
  • Eligible new customers can earn 120,000 bonus Qantas Points and a $275 statement credit
The Bad
  • $425 total annual fee
  • Tiered points earning, rate drops to 0.5 Qantas Points after exceeding $7,500 spend per statement period
Added Value
  • Airport lounge passes and discounts

Introduction

ANZ's Frequent Flyer Black credit card allows you to earn up to one Qantas Point per dollar spent up to $7,500 per monthly statement period (halved thereafter), and can be used either as your sole points-earning plastic or in tandem with a higher-earning American Express card to maximise your points.

But ANZ's top-of-the-line Qantas card offers more than just points: there are also travel perks, including Qantas lounge passes, a discount on year-round Qantas Club membership, and of course, a variety of insurance options.

With an offer of 120,000 bonus Qantas Points and $275 back to your new ANZ Frequent Flyer Black card (when you apply and spend $4,000 on eligible purchases in the first three months from approval), you'll be able to fly to your next holiday destination in style, and save on the 'cost' of annual fees in the first year.

Rounding out the key list of features and perks is support for Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay, allowing you to purchase goods and services in-person without presenting your physical card at any business that accepts contactless payments via their EFTPOS terminal.

ANZ Frequent Flyer Black credit card: fast facts

  • Grade/tier: Black
  • Card type: Visa
  • Loyalty program: Qantas Frequent Flyer (direct earn)
  • Qantas Points earned per dollar: 1 Qantas Point up to $7,500 per statement period, 0.5 Qantas Points thereafter (excludes ATO)
  • Points capping: Tiered earning rates apply as above, but points earning is without limit
  • Supported mobile wallets: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Fees, charges and interest:

  • Total annual fee: $425 (with a net cost of $150 in the first year after receiving the $275 statement credit)
  • Additional/supplementary cardholder fee: $65 with rewards
  • Interest rate on purchases: 20.24% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 20.24% p.a.
  • International transaction fee: 3.0%
  • Minimum income requirement: None defined
  • Minimum credit limit: $15,000

Earning points for free flights:

Apply, be approved and you can earn 120,000 bonus Qantas Points plus $275 back to your new ANZ Frequent Flyer Black card after spending $4,000 on eligible purchases in the first three months. On the points front, that's enough for a return Qantas business class flight from Sydney to Jakarta, plus a payment on the side to cover taxes, fees and other charges when booking.

As you continue to use the card, you'll also be earning Qantas Points at one of the highest rates in Australia for 'non-AMEX' spend, keeping your Qantas Frequent Flyer balance topped up.

Airport lounge access:

Every year, cardholders can request two complimentary Qantas Club lounge passes – valid in domestic Qantas Club lounges and the airline's own international business class lounges, with a few exceptions such as in Los Angeles.

For more frequent travellers, Qantas Club membership can also be purchased via ANZ at a $497 discount in the first year over the full 'individual' price.

Complimentary insurance cover:

Charge just $250 of your international flight, accommodation or other associated travel costs to your ANZ Frequent Flyer Black Card and ANZ's complimentary International Travel Insurance may provide cover on trips of up to six months.

ANZ's line-up of insurance covers also extends to Purchase Protection Insurance, Rental Vehicle Excess in Australia Insurance, Transit Accident Insurance and Guaranteed Pricing Scheme cover.

As always, refer to the policy documents to check that you qualify, and that the cover meets your needs.

ANZ Frequent Flyer Black credit card: the verdict

With the annual fee partially offset in the first year and substantial discounts on Qantas Club membership, the ANZ Frequent Flyer Black credit card can easily save you money: all while earning a high number of frequent flyer points on your everyday spends.

The only major downside is the high minimum credit limit of $15,000 compared to many Platinum-grade cards which usually begin at $6,000, which some people may find harder to qualify for if they already have several cards to their name.

Advanced frequent flyer users could also consider coupling the ANZ Frequent Flyer Black with a separate, high-earning American Express card (such as the AMEX Qantas Ultimate Card) to earn the most points where AMEX is accepted, and a respectable number of points where it's not, courtesy of ANZ.

Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller, and lives by the motto that a journey of a thousand miles begins not just with a single step, but also a strong latte, a theatre ticket, and later in the day, a good gin and tonic.

12 Feb 2014

Total posts 229

Make sure you apply online to avoid the annual fee. I joined up by ringing through an application and was charged the full fee. 10 calls later they reduced it by $200. Same if you apply for the card in a branch. They don't warn you of this.

20 Feb 2012

Total posts 65

I applied at a branch and the staff member was able to select the no annual fee offer. Just make sure you ask for it though.

23 Feb 2015

Total posts 263

"either as your sole points-earning plastic or to use in tandem with a higher-earning American Express card to maximise your points."


Are you sure?

What's the question, Steve? Cardholders may choose to use only the ANZ Visa to earn all their credit card points, or could pair the product with a higher-earning AMEX card (e.g. Qantas AMEX Premium, Qantas AMEX Ultimate, Altitude Black AMEX) to earn the most points possible on their overall spend.

23 Feb 2015

Total posts 263

Isn't it he case that ANZ has stopped issuing and has also cancelled previously existing Black AMEX? Certainly was my experience.

These aren't ANZ AMEX cards: they're issued by other banks, which people may choose to have in addition to the ANZ Visa.

23 Feb 2015

Total posts 263

Aha - gotcha! Non

11 Mar 2012

Total posts 297

Just cancelled this card today. It was a holdover from when it came with an AMEX and with an annual fee due in a few days there is no way this one was worth it. Will go with the QF AMEX and churn through a series of Visa/MC in the next year or so to get the sign up bonuses.


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