Changes to the ANZ Rewards Program (in particular Gift Card redemptions)

illumination on 02/07/2015 - 19:34
Last edited 02/07/2015 - 21:51

Hello,

Given that there was the ANZ Credit Cards promo posted last year around July/August 2015 and the annual fees are probably about to hit us, I just wanted to share with you guys some changes that are occurring to the ANZ Rewards program.

General important info/tips:

  • Points are not done in a monthly sweep as they are for other rewards programs. They take ~5 business days to reach your ANZ rewards account
  • You have 60? 90? days to use up your points after you close your ANZ Rewards Credit Card before the ANZ Rewards points disappear
  • Buy a fully refundable business class ticket to reach your required points if you are a little bit short
  • Alternatively, pay for accommodation with "Free Cancellation" - there are plenty on HotelClub, and you can even filter for Free Cancellation
  • Alternatively, buy WISH eGift Cards for 5% off from Cash Rewards

Key changes:

  • Changes take place July 18
  • Redemption for Gift Cards will require more points (~10% extra - e.g. Woolworths $100 GC now requires 19,980, will require ~22000)
  • Redemption on Virgin Velocity points will now be cheaper (2 ANZ Rewards Points = 1 Velocity Point, as opposed to 2.25 ANZ Rewards Points now)
  • Points transfer for the other airlines will remain unchanged (KrisFlyer, Asia Miles, Air NZ Airpoints Dollars)
  • The $20 GCs are very slightly better value than the higher denominations (3990 points for $20 instead of 9990 for $50 - 3990 points for $20 equates to 9975 points for $50)

Disclaimer: I am in no way related/associated with ANZ.

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Comments

  • gimli on 02/07/2015 - 21:22
    -1

    ok i'm cancelling my card tomorrow

    • illumination on 02/07/2015 - 21:26

      That's a bit rash..
      Why don't you just keep it until just before the annual fee hits?
      There might be more good AMEX statement credits coming up!

      • gimli on 02/07/2015 - 21:26

        annual fee hits in a month lol

        • illumination on 02/07/2015 - 21:29

          That's true I actually forgot we were already July.. only realised when I edited my post.

        • gimli on 02/07/2015 - 21:31

          @illumination:

          time flies…

        • illumination on 02/07/2015 - 21:31

          @jubba: You've got either 60 or 90 days to use up the points after you close your account. Make sure you remember to redeem something!

        • gimli on 02/07/2015 - 21:33

          @illumination:

          thanks!

  • Geewhizz on 03/07/2015 - 07:04

    Why wouldn't you just redeem before you close the account, to avoid the risk of forgetting?

    Thanks OP, hadn't realised they were increasing the amount of points needed per reward.

    • illumination on 03/07/2015 - 10:46

      It was more just in case you haven't decided I guess?
      I'm not suggesting either way is better.

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