Review: ANZ Rewards Black credit card [2023]

Introduction

Featuring a high earning rate for reward points, the ANZ Rewards Black Card helps you maximise your rewards.

This card is compatible with Apple Pay, allowing you to use your iPhone or Apple Watch to make payments wherever contactless cards are accepted, along with Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay.

Like other reward programs, you'll first accrue points in the ANZ Rewards scheme before later converting them into airline frequent flyer points or miles with either Virgin Australia, Air New Zealand, Cathay Pacific or Singapore Airlines, or for a raft of other goodies and gift cards.

Rounding out the deal: 180,000 bonus ANZ Reward Points and $150 back to your new ANZ Rewards Black credit card when you spend $3,000 on eligible purchases in the first three months from approval, getting you flying faster and reducing the cost of the card's annual fee in the first year.

ANZ Rewards Black Card: fast facts

• Grade/tier: Black
• Card type: Visa
• Loyalty program: ANZ Rewards
• ANZ Rewards airline conversion partners: Virgin Australia Velocity Points (2:1), Air New Zealand Airpoints (200:$1), Cathay Pacific Asia Miles (3:1), Singapore Airlines KrisFlyer (3:1)
• ANZ reward points earned per $1 spent: 2 points per $1 spent on eligible purchases up to $5,000 per statement period, then 1 point per $1 spent on eligible purchases above $5,000 per statement period. No points earned on ATO.
• 2 ANZ Reward Points = 1 Velocity Point, $0.01 in Airpoints Dollars, 0.66 Asia Miles, 0.66 KrisFlyer miles
• 1 ANZ Reward Point = 0.5 Velocity Points, $0.005 in Airpoints Dollars, 0.33 Asia Miles, 0.33 KrisFlyer miles
• Points capping: Uncapped, but tiered as above
• Supported mobile wallets: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Fees, charges and interest:

• Total annual fee: $375 ($225 in the first year after receiving the $150 statement credit)
• Additional/supplementary cardholder fee: $65 
• Interest rate on purchases: 20.24% p.a.
• Interest-free days on purchases: Up to 55
• Interest rate on cash advances: 21.24% p.a.
• International transaction fee: 3.0%
• Minimum income requirement: None defined
  
• Minimum credit limit: $15,000

Earning points for free flights:

Apply for the ANZ Rewards Black Card and spend $3,000 on eligible purchases in the first three months to pocket 180,000 bonus ANZ Reward Points.

Those 180,000 bonus points are worth 90,000 Virgin Australia Velocity Points, 60,000 Singapore Airlines KrisFlyer miles, 60,000 Cathay Pacific Asia Miles or $900 in Air New Zealand Airpoints value – all of which can go towards booking your next flight or upgrade to business class.

Airport lounge access

Airport lounge access is not available with ANZ Rewards Black.

If that's what you're seeking, an alternative could be the Qantas-attached ANZ Frequent Flyer Black card, which delivers two complimentary Qantas Club visits every year plus a discount on ongoing Qantas Club membership.

Complimentary insurance cover:

International Travel Insurance is available at no extra cost for trips of up to six months, and may be activated when holding a return international travel ticket and charging at least $250 of pre-booked travel costs (such as flights and hotels) to your ANZ Rewards Black credit card before starting the journey.

ANZ's line-up of insurance covers also extends to Purchase Protection Insurance, Rental Vehicle Excess in Australia Insurance, and Extended Warranty Insurance.

As always, refer to the policy documents to confirm whether (and how) you qualify for each type of cover, and to decide for yourself whether the level of insurance provided adequately meets your needs.

ANZ Rewards Black Card: our verdict

With no points capping, a solid earning rate and an offer of 180,000 bonus Reward Points for eligible new cardholders, the ANZ Rewards Black Card stacks up nicely.

The comparatively high earn rate on the card with its international airline partner programs also helps you maximise your points earning potential, thanks to its wide-reaching acceptance around the globe.

On the downside, there are no airport lounge access benefits at all – as opposed to other credit cards that offer domestic Qantas lounge passes, such as the ANZ Frequent Flyer Black card.

Also, if your travel patterns change and you begin to seek Qantas Points from your everyday spend, you'll also need to do a full product swap to ANZ's Frequent Flyer Black Card (which can change your card number, that you'd need to update on all your direct debits), so consider whether Qantas Points or ANZ Rewards and its linked frequent flyer programs are a better fit for your travel needs.

ANZ Rewards Black Card: FAQs

Do ANZ Reward Points expire?

Yes, ANZ Reward Points must be used within 36 months of 31 December of the year in which the Reward Points were earned. After this period, they will expire. 

If you decide to close your ANZ account though, any remaining points will expire after 90 days of the account’s closure.

What can I redeem my ANZ Reward Points for?

ANZ Reward Points can be redeemed for gift cards at a range of retailers, airline partner points or ANZ Cashback, which can be used to reduce your credit card balance or credited directly into your ANZ bank account.

Also read:ANZ Frequent Flyer Black credit card review