Review: ANZ Frequent Flyer Platinum credit card

By Chris Chamberlin, December 4 2017
ANZ Frequent Flyer Platinum credit card
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 up to 0.75 Qantas Points per $1 spent (up to $3,000 per statement period)
  • International Travel Insurance, plus other cover
The Bad
  • Earn rate drops to 0.5 Qantas Points per $1 after $3,000 spend
Added Value
  • Eligible new customers can earn 50,000 bonus Qantas Points plus a $195 statement credit

Introduction

ANZ's Frequent Flyer Platinum credit card gets things started with an earn rate of 0.75 Qantas Points per dollar spent up to $3,000 per statement period (0.5/$1 thereafter).

The bank's Platinum card also comes with well-rounded insurance coverage for less than you'd pay for a higher-tier Black card, and can be used with Apple Pay among a range of other mobile wallets.

Right now, there's also an offer of 50,000 bonus Qantas Points and $195 back to your new ANZ Frequent Flyer Platinum card when you apply and spend $2,000 on eligible purchases in the first three months from approval.

ANZ Frequent Flyer Platinum card: fast facts

  • Grade/tier: Platinum
  • Card type: Visa
  • Loyalty program: Qantas Frequent Flyer
  • Qantas Points earned per dollar: 0.75 up to $3,000 per statement period, then 0.5 Qantas Points for purchases over $3,000
  • Points capping: No cap, but tiered earning rates apply as above
  • Supported mobile wallets: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

ANZ Frequent Flyer Platinum: fees, charges and interest

  • Total annual fee: $295 ($100 net cost in the first year after qualifying for the $195 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: $6,000

Earning frequent flyer points for free flights

To get you off to a flying start, you could earn 50,000 bonus Qantas Points plus $195 back to your new ANZ Frequent Flyer Platinum card after spending $2,000 on eligible purchases in the first three months from approval, helping to reduce the true 'cost' of your annual fee while still offering bonus points.

Under Qantas' current rates, that's less than 5,000 points shy of a return first class upgrade from a paid flexible business class airfare on the Roo's Sydney-Singapore flights, or a one-way first class upgrade with points to spare on other business class fare types – and of course, you could easily make up the difference by continuing to spend on your card.

For domestic flights, a one-way economy flight from Sydney to Melbourne is yours after spending $14,500 on the card in one statement period, or $10,667 over four statement periods, given the card's earning rate structure.

Complimentary insurance cover

Cardholders may be eligible for free International Travel Insurance when holding a return ticket for trips of six months or less and charging at least $250 of pre-paid transport, accommodation, hire cars or tours to their ANZ Platinum card before leaving Australia.

That threshold is on the more generous side, as some other banks have pre-paid spending requirements of $500-$1,000 which can leave jetsetters without cover on less-expensive flights to nearby countries like New Zealand, Fiji and even Singapore and Hong Kong during sale periods.

ANZ also offers Purchase Protection Insurance, Rental Vehicle Excess in Australia Insurance, Transit Accident Insurance and Guaranteed Pricing Scheme cover: refer to the policy documents to check that you qualify, and that the cover meets your needs.

For the most part, those inclusions are expected of a Platinum card, although ANZ's 'Rental Vehicle Excess in Australia Insurance' trumps the insurance offerings of a number of other Platinum cards.

How it compares

If your focus is Qantas Frequent Flyer points, ANZ dishes out more points per dollar on its Frequent Flyer Platinum card than the comparable CBA Platinum Awards MasterCard (0.4 Qantas Points per dollar spent) and the Westpac Altitude Platinum Mastercard (0.5/$1).

If you're dropping a sizeable chunk of coin with merchants that accept American Express, you could also pair your ANZ plastic with another card such as the AMEX Qantas Ultimate Card to maximise your points earn.

Also read: ANZ Qantas Frequent Flyer Black credit card review

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.

11 Mar 2012

Total posts 298

The capping kills the value if you're running personal and business expenses through it like I was.  Have had to upgrade to the Black Card.

04 May 2015

Total posts 262

Erm, it's a personal card, so not really designed for business expenses...

11 Mar 2012

Total posts 298

When I say Business I mean hire cars, hotels when I'm travelling for business.  Not paying for the quarterly GST bill etc.

Qantas - Qantas Frequent Flyer Platinum

07 Feb 2013

Total posts 558

+1

Qantas - Qantas Frequent Flyer

30 May 2014

Total posts 52

I've used this and although I signed up just before the annual fee was waived, I still consider it worth it for the 50,000qff sign-up bonus points (I've got a few international flights coming up where I hope to use them for upgrades). I use the AMEX for most transactions and have barely used the VISA card at all (I use a HSBC platinum where I get 1:1 points and QC passes, until they drop that early next year).


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