Reviews

Review: ANZ Rewards Black credit card

By Chris Chamberlin, November 14 2017
ANZ Rewards Black credit card
Notes
The Good
  • Earn points with four different airlines (VA, SQ, NZ, CX)
  • 100,000 bonus ANZ Reward Points + $100 back for new customers
  • International Travel Insurance
The Bad
  • Tiered earning rates
Added Value
  • International lounge access

Introduction

Boasting a high earning rate for reward points and top-shelf benefits like unlimited airport lounge access, the ANZ Rewards Black Card helps you maximise your points and perks.

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: 100,000 bonus ANZ Reward Points plus $100 back on your card when you spend $4,000 on eligible purchase 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 (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 ($275 net cost in the first year after '$100 back' offer)
  • 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 for the ANZ Rewards Black Card and spend $4,000 on eligible purchases in the first three months to pocket 100,000 bonus ANZ reward points, plus $100 back on your card.

Those 100,000 bonus points are worth 50,000 Virgin Australia Velocity points, 33,333 Singapore Airlines KrisFlyer miles, 33,333 Cathay Pacific Asia Miles or $500 in Air New Zealand Airpoints value – all of which can go towards booking your next flight or upgrade to business class.

Opt for Velocity points and you can also earn the equivalent of one Velocity point per dollar spent on eligible everyday purchases (up to $5,000 per statement period, halved thereafter), giving you enough points to book a one-way economy Sydney-Melbourne flight after spending $10,600 on the card in a single month.

If your spends are lower, you'd earn the same number of points after charging $7,800 worth of everyday purchases over a number of months, provided your total spend on the card remains less than $5,000/month, where you'd always be earning the highest number of points.

Airport lounge access:

ANZ has teamed up with Velocé – that's Velocé with an acute 'e', not Virgin Australia Velocity – to provide cardholders with access to a number of airport lounges across the globe.

Participating lounges can change over time, so before you travel, always consult the Veloce World website (which you'll gain access to after receiving your ANZ card) for the most up-to-date lounge listings.

As there are no partner lounges for domestic flyers in Australia, and the international network isn't as wide as with programs like Priority Pass, this is one of those benefits that's great to keep in reserve, but perhaps not suited to being your 'main' global lounge access solution.

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, Transit Accident Insurance and Guaranteed Pricing Scheme cover.

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 $100 cash rebate in the first year, a solid earning rate of up to one airline frequent flyer point per dollar spent and an offer of 100,000 bonus points for eligible new cardholders, the ANZ Rewards Black Card stacks up nicely.

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

On the downside, inclusive airport lounge access only kicks in when flying internationally at specific airports and terminals – as opposed to other credit cards that offer domestic Qantas or Virgin Australia lounge passes, such as the ANZ Frequent Flyer Black and ANZ Rewards Travel Adventures cards.

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.

Also read: ANZ Frequent Flyer Black credit card review

Bank disclaimer: To apply for this credit card, you must:
-Be 18 years of age or over, and;
-Be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your visa.

Bank disclaimer: Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL and Australian credit licence 234527 which allow eligible ANZ account holders and cardholders to claim under the group policy as third party beneficiaries. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Premium Cards - Insurances Policy Information booklet (PDF 366kB) and the ANZ Credit Cards Insurance Features booklet (PDF 111.5kB) which may be amended from time to time. An excess may be deducted from any benefit paid. ANZ does not guarantee this insurance. Any advice has been prepared without taking into account your objectives, financial situation or needs.  You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller and lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!

Joe

Joe

03 May 2013

Total posts 390

Chris the lounge rating should be 2/5. Excluding Australia and USA are indeed major omissions for Australian business travellers.

Chris Chamberlin

Chris Chamberlin

24 Apr 2012

Total posts 2951

Hi Joe, most credit cards include no lounge access at all, while those that do frequently include only two or four visits (for which we would normally award one star per visit: so two stars for two visits and four stars for four visits).

ANZ Rewards Black instead provides unlimited airport lounge access, but as we've noted in the article and you've highlighted above, no Australian lounges are included in that program, so rather than awarding five stars as we typically would for unlimited airport lounge access, we've awarded 2.5 to reflect this restriction, as domestic lounge access isn't provided (and the USA would certainly be nice too), with many likely using the perk around 2-3 times a year.

romaau

romaau

20 Feb 2012

Total posts 66

Does anyone have the latest list of Veloce lounge locations? I found an old list that has Istanbul, Athens and Munich on it.
Can someone confirm they are still on the list.
Do you just show your card and they let you in?

gravity

gravity

Qantas - Qantas Frequent Flyer

23 Jul 2014

Total posts 10

yes you show your card and flight ticket and they swipe and confirm and let you in. Names must match

MrBRo

MrBRo

28 Sep 2017

Total posts 7

The card itself is quite good, but ANZ as a whole with customer service is terrible. Hopefully you don't have to deal with their branch or overseas call centre staff as their product knowledge is poor.

gravity

gravity

Qantas - Qantas Frequent Flyer

23 Jul 2014

Total posts 10

Hi Chris
Thanks for the review, anz black is no longer as good than when it had AMEX attached. Considering changing now.
Also might be worth noting whilst its uncapped, less points over $5k

2 Reward Points
per $1 spent on eligible purchases up to and including $5,000 per statement period

1 Reward Point
per $1 spent on eligible purchases above $5,000 per statement period

Chris Chamberlin

Chris Chamberlin

24 Apr 2012

Total posts 2951

Hi gravity, we've covered this in the review.

gravity

gravity

Qantas - Qantas Frequent Flyer

23 Jul 2014

Total posts 10

Hi Chris
My apologies, i just re read the review. I missed that.
Sorry mate

boris45

boris45

Qantas - Qantas Frequent Flyer

23 Feb 2017

Total posts 13

I still use my CBA black combo as it is totally fee free and has good travel insurance. However as its FF points have become crap I use it spasmodically alongside an AMEX platinum. As I only fly business class lounge access is not a selling point.

Jobson72

Jobson72

11 Feb 2018

Total posts 2

What lounge can we use at Sydney international airport

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