ANZ Platinum Credit Card: $300 Cashback with $1,500 Spend in 3 Months, No First Year Annual Fee ($87 p.a. Thereafter)

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ANZ Platinum Credit Card: $300 Cashback with $1,500 Spend in 3 Months, No First Year Annual Fee ($87 p.a. Thereafter)
Go to Deal
Pdealstacker on 06/04/2024 - 14:17 anz.com.au (5078 clicks)
Last edited 10/04/2024 - 17:13 by 1 other user

Pretty much 20% off for your next $1,500 of purchases. $6,000 minimum credit limit is the only barrier to entry, otherwise the criteria is pretty easy as you can spend the money any time in the first 3 months.

From the website:

"Eligible applicants must meet the spend criteria within 3 months of the date of approval. The date of approval of an application is the disclosure date specified in your Letter of Offer. Eligible purchases includes purchases made using your account but excludes specific purchases as set out in the ANZ Credit Card Conditions of Use (PDF). Excluded purchases include, for example, fees, cash advances, cash equivalent transactions, balances transfers, premiums paid for ANZ credit card insurance, transactions for gambling or gaming purposes or reversed or refunded transactions and will not qualify. The $300 will generally be credited to your ANZ Credit Card Account within 3 months of meeting the spend criteria. The $300 credit will be applied to the purchases balance and does not constitute a payment under your Credit Card Contract with ANZ. You will not be eligible for $300 back if your ANZ Credit Card Account is cancelled, suspended, transferred, or you are in default or breached the ANZ Credit Card Conditions of Use (PDF)."

Edit: some people have issues accessing the deal (i.e. clicking apply and the the website saying that the offer is no longer available). Some solutions have been to search for the card organically (not using the post link) or using a different browser or device.

Edit: The page is now 'down' for maintenance not just for this card but for their other cards too. I'll report again if I see the issue resolve.

Edit: it’s back online.

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Comments

  • hippo2s on 06/04/2024 - 14:34
    +23

    Additional barrier of entry: getting the application approved via their overseas based credit review team. Last time had to put my home CFO on the call and talk them thru all the liabilities….as if it's a home loan! It's funny as she's a mortgage broker and she was surprised how much they wanted to know for 6k credit, not a 2 mil mortgage.

    • dealstacker on 06/04/2024 - 14:38
      +2

      I have heard this… They are a bit slow and more inquisitive than other banks from my experience but have been approved for all 4 of my previous cards within a week of applying and less than 60 mins of work for about a days pay all said and done.

      • hippo2s on 06/04/2024 - 14:39
        +3

        True. The value is definitely there. Spend it, get the rebate and close it off.

      • perfectlydark on 06/04/2024 - 14:42
        +3

        they also are unable to comprehend our financial year is Jul/Jun and insisted i showed them a document of how much i earned in a calender year and were completely unable to comprehend our fin year or what a group certificate was

        • hippo2s on 07/04/2024 - 14:03
          +1

          Wasn't there a big push for ANZ to bring the jobs back on shore to improve quality of service? Guess things haven't changed.

    • Freestyle on 06/04/2024 - 15:07

      It took me less than a week though

    • Homr on 06/04/2024 - 15:39

      They must've changed now. Last I applied in September last year all I was asked was payslips, they never needed to call me

    • cook99 on 06/04/2024 - 15:49
      +1

      ANZ have been excellent for me since I started arranging my salary to go into an ANZ account.

      They don't even ask for payslips this way.

    • jyttam on 06/04/2024 - 20:20

      Which is crazy because ANZ is definitely one of the easier banks to get a mortgage with.

  • afayd on 06/04/2024 - 14:40
    +1

    Looks like it is available for existing card holders? I couldn't see any exceptions for current or previous card holders.

    Edit: just saw "[5.] Offer is for new and approved credit card applicants and is limited to one offer per applicant."

    Need to wait 18 months if you're a previous ANZ card holder?

    • dealstacker on 06/04/2024 - 14:48

      Looks like the standard waiting period that exists for their rewards and frequent flyer ranges isn't mentioned in their T&Cs. If you do have a card with them, I would message to clarify your eligibility in writing, so you don't have to guess.

    • Fishballs on 06/04/2024 - 15:58

      Where did you find the bit about 18 months?

      • foxes28 on 06/04/2024 - 16:12
        +1

        It was a guess based on their other CC products

    • hamwhisperer on 07/04/2024 - 07:17

      18 months….?

      • timhn on 07/04/2024 - 11:46

        Lol, they probably read about NAB or Amex cool down period.

      • lacr on 07/04/2024 - 11:56

        I think the standard for ANZ is 12 months.

  • BatmanAU on 06/04/2024 - 14:47

    Is the international travel insurance any good?

    Also, do savings go against them offering you the card, last time I put my savings down for a Qantas St George card, they declined me and wouldn’t give me a reason.

    • dealstacker on 06/04/2024 - 14:50

      They assess your ability/likelihood to service the credit limit. I've never heard of savings having a negative impact on credit eligibility. St George is actually the only bank I've been declined a credit card from. It was for a $500 limit credit card, right after having a $15,000 card with ANZ and right before having a $15,000 card with NAB.

      edit: the insurance is issued by Allianz and is the same as if you bought their travel insurance directly. I used this insurance on a recent holiday and while I didn't make any claims, it saved a lot of money.

    • hippo2s on 06/04/2024 - 14:59
      +1

      Savings do not help nor detract from your credit position. The logic is that you can spend the saving the very next day after approval for cc so it's doesn't mean much.

      What they are interested is how much you earn (and how steady that earning is, they love people that earn a monthly payg wage) vs how much you spend (including your living expenses, liabilities, overhead).

    • wfdTamar on 06/04/2024 - 15:16
      +1

      The insurance is a more basic type. $300 excess too.

  • ninohax on 06/04/2024 - 14:58

    Would I be eligible if I held this card in the past one year ? Couldn't find any info related to it on the website.

    • dealstacker on 06/04/2024 - 14:59
      +1

      Message their chat and get confirmation in writing. But it looks like you would be.

      • wfdTamar on 06/04/2024 - 15:18

        Surely this excludes existing cardholders?
        'in the first 3 months from approval.'

        • dealstacker on 06/04/2024 - 15:18
          +2

          Definitely. But ninohax is talking about opening a new card.

  • Jigram on 06/04/2024 - 15:10

    No qantas points, pass

    • dealstacker on 06/04/2024 - 15:14
      +2

      We're in a Qantas points drought at the moment. ANZ FF Black is the best card if you're looking for that, but their offer is the worst I've seen at 90k points for 5k spend and $225 net fee. Qantas cards are my preference too but these cash back cards are at a relative strongpoint compared to Qantas cards and very easy to extract their value.

      • Jigram on 06/04/2024 - 15:19

        Yeah it’s terrible at the moment! I’m looking for a new one but cant pull the trigger. No deal is enticing enough.

        Any idea what’s causing it?

        • dealstacker on 06/04/2024 - 15:26
          +2

          ANZ (and others) have been increasingly locking more of their SUB behind the second annual fee to mitigate churners but the state of offers just changes over time. They will probably get better in a few months. Just a few months ago ANZ was 100k, NAB was 120k, and a few days ago AMEX was 115k (including additional cardholder bonus). Just have to be patient. I'm doing cash back cards at the moment while I wait for ANZ or anyone to increase their offer because taking a shit offer now disqualifies you from that card SUB for at least a year.

      • SuiCid3 on 06/04/2024 - 16:26
        +2

        Westpac and their subsidaries (BankSA, BoM, St George) all have $49pa (if existing customer, or just open a free transaction acct) + $75 awards fee, with varying points offers of 70k-80k
        One of the better offers out there for QFF

        • Jigram on 06/04/2024 - 16:30

          Ta, most appreciated

        • VQLD on 08/04/2024 - 13:33

          60K first year. Westpac
          Ozbargainer usually do not keep CC for more than 2 months :)

    • timhn on 06/04/2024 - 15:26
      +1

      This card isn’t earn you any points. You should apply for the Qantas FF CC.

      • dealstacker on 06/04/2024 - 15:29

        That's a very good card but also has a high barrier to entry with a $15k credit limit, more than triple the spend requirement ($5k) and $225 net fee. The SUB points are very valuable but are more difficult to extract value from than straight cash back.

      • Brick50 on 06/04/2024 - 15:38
        +3

        Some of us are already timed out for all the Qantas & Virgin cards, for me another 3 months for the ANZ FF, 18 months for NAB, 9 months for Westpac, Suncorp.
        Doing our 2nd Virgin Money cards in the last 6 months now though, hope that loophole lasts a bit longer

        I've done this one before and will probably do it again, last time it was $350 GC w/ 3 months spend. I only got the GC after 3 months so plan on having to keep this card open for 3 months

        • Cludo on 06/04/2024 - 21:37
          +1

          Are you getting a pro-rata refund on your cancelled cards? Or are you just eating the annual fee for the benifits?
          I tried to cancel my NAB Premium Qantas one and they would, but no annual fee refund.

          • Brick50 on 06/04/2024 - 21:44

            @Cludo: Don't bother with pro-rata anymore, feel like that ship has sailed.

            I signed up to NAB in 2022? before they stopped annual fee refund, when I cancelled I had to escalate it to complaints department for a week or two to get a prorata refund.

            No chance you'd get one now

            • Jigram on 07/04/2024 - 10:33

              @Brick50: I spoke to NAB literally last week and their policy is to pro rata. You don’t have to argue with them.

              • Brick50 on 07/04/2024 - 16:32

                @Jigram: "After further investigation, I can confirm due to policy change effective from 30 November 2022 there were changes made to pro rata annual fee refund on consumer credit cards therefore annual fees will no longer be refunded where a customer closes their card within 12 months from first use"

                Would be interested to hear if anyone else has had success getting a prorata refund from NAB

                • Jigram on 07/04/2024 - 18:20

                  @Brick50: Ah, the trick is to renew for one month, get the second round of points, then cancel. :)

          • dealstacker on 08/04/2024 - 09:46
            +1

            @Cludo: Just another data point, cancelled NAB FF signature in Feb, no annual fee refund for first year cancellations. The fee is still worth the points. Alternatively pair with a cashback offer card and offset the fee with that.

        • hamwhisperer on 07/04/2024 - 07:18

          What's the Virgin money trick?

          • Brick50 on 07/04/2024 - 16:33

            @hamwhisperer: Closing card and reopening it a month later to get the bonus points again

  • edumacation on 06/04/2024 - 15:18

    If you already have a home loan with ANZ is the process easier?

    • dealstacker on 06/04/2024 - 15:22

      Probably slightly easier. Applying for a credit card is easy in the first place though, just filling expenses, income, assets, debts, and proof of income. Then set a reminder to follow up in a week.

    • timhn on 06/04/2024 - 15:30

      Yes. Every year, my partner and I cycled through the ANZ FF & Rewards cards without problem. Application got approved within 2-3 days.

      As long that you have a history with them, it’s quite smooth process.

  • Homr on 06/04/2024 - 15:37

    I'm about to get a mortgage within a month, is it best to avoid a credit card application?

    • dealstacker on 06/04/2024 - 15:39
      +3

      A lender will assume you have maxed out your credit limit and are paying that off for the purposes of determining if you can service the home loan. So yeah, it affects your borrowing power somewhat significantly (at least more than you would think for a pretty small credit limit). If you are at all close to your borrowing power, best to leave the card application until after you get your mortgage.

      • apptrack on 06/04/2024 - 15:41

        Yep, I’ve heard from brokers that they triple the credit limit to work out your debt liability (5k limit would be 15k liability/debt).

      • Homr on 06/04/2024 - 15:42

        Thanks

        I've already got 16k Westpac Black and got pre-approval mortgage done aswell.

    • RTY on 06/04/2024 - 16:36
      +2

      Avoid. I applied for 4 cards right after home loan was settled haha (approved for 3, Amex doesn’t like me). I’m about to churn again.

      • Homr on 06/04/2024 - 16:49

        Why avoid? Didn't u say u got 3 cards approved after loan settled??

        • RTY on 06/04/2024 - 19:47
          +4

          I mean, avoid before you settle the loan. After it’s settled you can do anything

  • OZBMate8911 on 06/04/2024 - 16:01

    OP do you know if the extra balance gets refunded to you if you were to close the card with the +$300 cashback balance sitting there?

    • RTY on 06/04/2024 - 16:25
      +1

      It comes after your first statement, so you only pay the statement balance less $300.

    • dealstacker on 06/04/2024 - 16:25
      +2

      Whenever my cards have had a credit balance they send it to one of my transaction accounts so yeah they should refund the balance. When your card is in credit the bank does owe you so it should be pretty cut and dry like that. Just closed my card so I'll post here with the result (usually takes a week or so).

    • Free Fall on 06/04/2024 - 16:55
      +2

      Usually if there is credit on a closed card they will refund via cheque or to another bank account you nominate.

      • hippo2s on 07/04/2024 - 14:08

        They send you a physical letter with a code to claim on a website into a bank account

  • sfac on 06/04/2024 - 16:03
    +2

    Can someone tell me why it is called platinum when it has no features at all?

    • dealstacker on 06/04/2024 - 16:23
      +3

      Has complimentary insurances. That's probably why they call it platinum. It is a low-mid range card unlike other platinum cards like the AMEX Platinum.

  • watwatwat on 06/04/2024 - 16:13

    "Sorry, that offer cannot be found or has ended
    Please take a look at our current credit cards and offers.

    "

    • dealstacker on 06/04/2024 - 18:10

      Maybe try organic search?

      • watwatwat on 06/04/2024 - 20:44
        +1

        I ended up trying on mobile it worked.

        Wouldn't even work on desktop incognito mode.

  • stuarty9 on 06/04/2024 - 16:17

    Completely new to these CC deals.
    So if I open this, spend $1.5k I get $300 (assumed as a credit on the CC?)
    Can I then just close the acct? Or is there a min time it needs to be opened for etc? No fees either by the looks of it?
    Do people normally also get their other half to open one too to maximise the rebate??

    • dealstacker on 06/04/2024 - 16:21
      +5

      I do. Currently 430k qantas points and $1800 in cash back this year, minus the qantas cards total fees of $1195 (So $605 net cash back) between me and my partner opening cards with the best signup bonuses.

      1. Apply for card
      2. Spend $1,500 or more in 3 months
      3. Receive cash back
      4. Close card

      Never change spending habits to meet minimum spend (minor alterations might be okay), and never, ever, carry a balance (pay it off in full and on time)

      • YouSirName on 07/04/2024 - 00:50

        Does doing this (closing the card after availing the benefits) affect future CC applications and/or credit score etc?

        • dealstacker on 07/04/2024 - 08:08
          +2

          I haven't heard of closing the card affecting the credit score, but more churning through many cards at once (lots of enquiries on file) having a small impact in the short term.

  • firestint on 06/04/2024 - 16:25

    Good card to get if you ran out of good options.

  • MrThing on 06/04/2024 - 16:27

    you might get lucky this will be quick since its not a voucher or similar. just a simple cash back onto the card

    ANZ and voucher deals are a massive PITA

    • dealstacker on 06/04/2024 - 16:28

      Definitely longer than most to get paid out - Mine took 35 days from meeting spend criteria.

      • MrThing on 06/04/2024 - 16:29

        took me 4 months after the criteria for the last voucher offer

        they send the redemptions via SMS and they get swallowed up by peoples spam / scam filters

        • dealstacker on 06/04/2024 - 16:57

          Frustrating. Have a Citi Ready Credit line eating up 5k of available credit limit while I wait months for a $50 gift card. 😵‍💫

  • RTY on 06/04/2024 - 16:29
    +11

    I just closed this card today.
    Timeline:
    12 Mar applied, 15 Mar approved, 19 Mar card arrived and activated, 21 Mar min spend met, 4 Apr first statement, 6 Apr $300 bonus arrived and I closed the card after I paid off remaining balance.
    Time for the next card!

    • dealstacker on 06/04/2024 - 16:30

      CommBank Low Rate is good! Thanks for the info.

      • RTY on 06/04/2024 - 16:33

        I plan to get nab rewards platinum so I can just spend it quickly and churn. Currently waiting for $200 bonus for ING orange and still $300 spend to go for BOM amplify platinum.

    • mkowarkski on 07/04/2024 - 22:09

      Wondeirng how this card opening and churning have affected your credit score?

      I did with three banks and the fourth one rejected me. Probably because of too many hard inquiries in 3 months

      • RTY on 08/04/2024 - 08:55
        +1

        It's been a month and only anz platinum showed in credit applications but not in credit accounts, and other three are not even in credit applications.
        I applied for 4 cards because I cannot apply for anything before my home loan is settled and I would have big spending on furniture; my credit score actually increased by 50 points after home loan and anz platinum showed on my credit report.

  • chromium on 06/04/2024 - 17:02
    +1

    When I log into my ANZ account I get a different offer:

    Enjoy $125 back to your new ANZ First credit card

    When you spend $750 on eligible purchases in the first 3 months from approval. Plus, get a $0 annual fee in the first year (currently $30 thereafter). T&Cs, eligibility criteria, fees and charges apply.

    I could probably take up the one in the OP if I could be bothered changing all my direct debits to a new card for a month.

    • dealstacker on 06/04/2024 - 17:03

      Yeah there is the Platinum ($300), Low Rate ($250-65AF), and First ($125). Platinum is the best one IMO.

    • edumacation on 06/04/2024 - 18:01

      As these on the app? Or do you have to log in via computer to see the deals

      • dealstacker on 06/04/2024 - 18:06

        Click the link in the post, or search it on a browser. Offer is available to anyone, don't have to log in to see the deal.

  • a1234my on 06/04/2024 - 18:03

    Hold a platinum no reward card for 5 years, eligible for this? Or switch over and get the bonuses?

    • dealstacker on 06/04/2024 - 18:08

      This is a platinum (non-rewards) - Message their chat and find out if you can close the card and open a new one for the bonus offer. And switching cards does not qualify for this offer.

  • neonlight on 06/04/2024 - 18:12

    I mean this is great deal and all but the more credit cards you hold and cancel can affect your credit rating….

    I mean would you cancel this card after 3 months?

    • dealstacker on 06/04/2024 - 18:19
      +2

      Credit score doesn't matter nearly as much in Australia as in America which is where a lot of online financial information comes from. Banks primarily look at your ability to service the debt with your income and expenses, with some regard for current assets and liabilities, as well as negative events on your report.

      • neonlight on 06/04/2024 - 19:27
        -2

        My financial advisor tells me it does. Banks have a record of your credit rating on how many loans you got plus how many credit cards you hold. And has history under your name and identity how many applied and cancelled in the past

        So it does affect. So $300 might not be worth going for and have a record of that if in the future you need to take out a loan

        • watwatwat on 07/04/2024 - 02:09
          +1

          Your financial advisor doesn't know sh**.

          Just close the cards before you get the loan. Having lots of history doesn't mean much at all. Just tell the bank you were signing up for points bonuses if they ask.

  • sniperaussie on 06/04/2024 - 18:14
    +1

    Nice one mate, thanks. Applied

  • pahuang on 06/04/2024 - 18:18

    "Sorry, that offer cannot be found or has ended" when I click apply online. WTF?

    • dealstacker on 06/04/2024 - 18:21

      I can't replicate that issue - try a different browser?

      • pahuang on 06/04/2024 - 19:05
        +1

        ok on mac it didn't work. on windows is was fine. Thanks op.

  • navshaf on 06/04/2024 - 18:44
    -1

    If you have excellent credit, dont waste your time. They dont want your business. They are looking for low credit score people who they can get more money from

    • neonlight on 06/04/2024 - 19:46

      Why would bank want low credit score ppl? Doesn't seem to make sense unless you are saying they want more interest from those ppl. However if you are already poor and borrow too much and can't repay. You end up with debt collectors…. Not sure how and what the banks are thinking

    • timhn on 06/04/2024 - 22:05

      I've an excellent credit and have no problem with these low rates cc - applied cc from CBA, nab, Citibank etc.

  • cheaponos on 06/04/2024 - 19:55

    Does this card have a 0% balance transfer?

  • Thrift on 06/04/2024 - 20:10

    Anyone else having ANZ card issues at the moment? Mine stopped working from 4pm yesterday. No status from ANZ, but a bunch of people are complaining on Facebook and Twitter:
    "I haven’t been able to use my credit cards or Apple Pay since 2pm yesterday"
    "hundreds of thousands of credit cards blocked i was told on the phone just now when i called - they have unblocked a lot apparently but mine wasn’t one of them until i called"
    "ANZ eftpos not working for credit cards, tap to pay or any credit card or debit transactions. Waited 45 minutes on hold to be told my card and many others also had been blocked due to a glitch."
    "on hold from 8.04 to finally getting connected to a very impatient customer service agent to be told the card maybe or may not be blocked due to technical outage"
    "not working smoothly today with cc and eftpos cards being randomly blocked and thousands of users not able to use their cards."

    • dealstacker on 06/04/2024 - 20:13

      No issues with mine.

      • Thrift on 07/04/2024 - 02:22
        +4

        Seems ANZ's fancy ANZ Falcon™ protection system went all Karen over "suspicious" transactions for thousands of customers. Have to contact them to unblock my card, all over a 48 pack of Quilton :(

        "ANZ deemed a $10 transaction at my local RSL club to be suspicious and blocked my card."

        • cheaponos on 09/04/2024 - 07:04

          "ANZ deemed a $10 transaction at my local RSL club to be suspicious and blocked my card."

          They probably suspected you paid too much for your Sunday night roast and drink!

  • DraggyX on 06/04/2024 - 21:43

    How is it with foreign transactions? Does it charge fee a lot?

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