Good for those cycling off their ANZ Frequent Flyer Black which I just got off because of the annual fee.
100k ANZ Reward points can be converted to 50k velocity points.
The black card also has a 150k rewards points offer though the fee is much higher at $375.
Citibank plat offers 140k points or 56k velocity for $49 annual fee
Can only hold 2 Citi based cards at once though..and many of us would have the Citi Sig no annual fee for life + maybe the Kogan or QFF or VFF (Citi based).
Who told you that mate? That's so far from the truth. I know this as I hold a Citi Signature + Coles No Annual Fee + Kogan Black + Coles Rewards Mastercard. And all 4 got approved without any hassles whatsoever. Lots of popular OzB myths around Citibank!
@singhdeals: Yep, must be a myth. I just took it as fact with a heap of ozbargainers last year getting rejected on their 3rd Citi card and kept to that rule. Handy to know as I just got the Kogan Black, and mid January my 12 months wait is up on QFF card. So that will make 3 Citi cards. Have you tried getting the Citi platinum as well (or are we ineligible with the signature card)?
@tunzafun001: I haven't applied for another card as I'll be looking for a homeloan refinance soon. However, as per my knowledge getting another Signature/Platinum on diffeent card type (eg Signature/Platinum Qantas if you hold Signature Rewards card) should be eligible for all sign-up offers.
@singhdeals: I had 6 active cards when I did my refi, with 2 more card applications, plus applied for an entire new loan 2 weeks after that. Had no issues.
Basically did them all at the same time, didn't tell anyone about the others and there was probably nothing documented from any of them ,so might have been an advantage.
@tunzafun001: It's definitely an advantage.
I signed up for 2 credit cards a month ago, and then applied for ANZ last Friday. ANZ couldn't see the two new cards from last month.
Can these only be converted to Velocity and not QFF?
Correct, ANZ Rewards Points only link to Velocity FF.
I think you can also transfer to Asia mile and krisflyer points but the transfer rate are not as good.
I think you can also transfer to Asia mile and krisflyer points but the transfer rate are not as good.
Correct on both accounts. This card effectively earns 0.75 Velocity points per dollar, but only 0.5 Asia Miles or Krisflyer points per dollar.
For the past few years there have been bonus transfer offers to Velocity points during May and November, sometimes as high as 50% on top of the base transfer rate. You can then transfer from Velocity to Krisflyer at 1.55:1. So the "standard" transfer bonus of 15% would effectively give you about 0.556 Krisflyer points per dollar (better than 0.5, but only by about 11%), 30% equates to about 0.629 points per dollar (better by nearly 26%) and 50% equates to nearly 0.726 points per dollar (better by about 45%).
FWIW, the ANZ Internet Banking offer (for existing ANZ customers) on this card is 65,000 bonus ANZ Rewards points for simply making one eligible spend within 3 months, and $50 of the $95 annual fee is returned. Not as many bonus points to be had, but they work out a bit cheaper.
Can these only be converted to Velocity and not QFF?
Can't be transferred to QFF. You could transfer them to Asia Miles and use them for Qantas flights that way, but given the low transfer rate, the lack of transfer bonuses and the Asia Miles devaluations, it's not really attractive.
Keep in mind that Velocity do a 15% bonus in May and Nov each year, so if you can wait you'll actually get 57,500 VA points.
does anyone know the minimum income for this?
$35,000
Bar a couple of outliers (e.g. HSBC at $40k and Macquarie at $50k), it's pretty standard for Platinum cards, most require $30-$35k for minimum income.
"Ensure if applying for an offer, you don’t currently hold and haven’t opened or closed an ANZ Rewards Black, ANZ Rewards Platinum or an ANZ Rewards credit card in the last 12 months"
Don't think you will be eligible for the points if you have only just cancelled from a rewards card.
Correct, but you're able to if you have only just held an ANZ Frequent Flyer card (which is what the OP was referring to).
Got it. Thanks for clarifying
So if you have an Anz Rewards Adventure would you be eligible?
Yes you will be.
Yes
No. You will not be eligible.
@gilbarc: Getting a lot of negs here… Not taking it personally, because I'd be very happy to be proved wrong, since it'd mean I'd be eligible for this deal too.
My understanding has always been that ANZ groups their cards into two groups (the ANZ Rewards cards and the Qantas Frequent Flyer cards), which each have their own separate twelve month waiting period, and that the Travel Adventures card falls under the ANZ Rewards banner. The Point Hacks articles on both this card and the Travel Adventures card seem to back this up, so if this has changed, it seems like a recent development. Anyone have any more concrete info?
@gilbarc: Yes, from the T&C on the site:
"Not available where you currently hold an ANZ Rewards, ANZ Rewards Platinum or ANZ Rewards Black credit card, or have closed, or qualified for bonus Reward Points on, any of those ANZ Rewards credit cards within the previous 12 months."
No mention of ANZ Travel Adventures falling under the rewards banner. On the Travel Adventures card T&C:
Bonus Velocity points offer available to new and approved applicants who apply for an ANZ Rewards Travel Adventures account and who make $2,500 of net eligible purchases within three months of approval. This is a limited time offer which may be withdrawn or changed at any time without notice. Not available in conjunction with other offers, packages or promotions, when transferring from an existing ANZ credit card or where you currently hold or have closed an ANZ Rewards Travel Adventures credit card within the previous 12 months.
Again, no mention of the rewards cards.
@neilpatrickharris: OP Referring to FF Black - believe he refers to the one I posted https://www.ozbargain.com.au/node/503431 so you cannot cycle off that one to this one immediately…
If you've held an ANZ Traveller card you should be ok too shouldn't you?
Yes, should be fine.
I haven’t used velocity points before. Can someone enlighten me how good 50K is? Are they good to use for international flight? Also, are these reward points are bust converted to velocity and not hotel or other stuff? thanks.
Cuz I'm thinking of getting new credit card but for me $95 annual fee is quite big.
You can use them for international flights, including booking flights on SIA.
Worst case, you could sell the points for about 6-700$.
The card gives you ANZ Rewards points which you can then convert into Velocity points. While you can use ANZ Rewards points for hotels, gift cards, and other merchandise but this usually isn't as good value as converting them to Velocity for use for flights.
If you did convert them to 50000 Velocity points, that's enough for a one way international economy flight with a little bit left over depending on destination.
For about 45000 points it would get you one way either from SYD\MEL\BNE to Los Angeles or vice versa on Virgin Australia or Delta in Economy, plus about $170 in taxes. It could also get you one way MEL\BNE\SYD to Tokyo Haneda or vice versa for about 35000 points and $155 in taxes.
(You can pay the taxes with points, but usually this is around 20000 points extra so isn't a good use of them.)
You can of course use the points for domestic flights and these are obviously cheaper (e.g. I flew round trip MEL-ADL for about 14800 points and $60 in taxes). The best way to see what you can get and how many points you need is just go to the Virgin Australia website and select "Use Points and Pay" and do a search for destinations you are interested in, no login needed.
Note they have two kinds of flights you can redeem points for - Economy Reward and Economy Any Seat. Economy Reward is what you want as they're cheaper however they release a limited number of seats so they may not always be available for the routes or dates you want, especially if you're wanting to collect enough points to fly overseas in business class.
On the other hand, if there's a seat that can be bought with cash you can get an Economy Any Seat flight as that will just treat the points as cash, about one point per half cent I believe, so is generally a very poor use of points value wise - for example, a one way Business Class Reward to LA is about 98000 points plus taxes, a one way Business class Any Seat ticket is about 1.5 million points.
Are you able to point us in the right direction for a basic strategy to collect points / card churn please?
We are noobs to churning cards
I must say I'm not an expert here, and someone else can probably chime in with better info as I used to only do one card a year (however this year I'm on card three and possibly will do a fourth by the time the year is out). Basically, find a card with an offer that's achieveable, hit the spending limit and once the bonus points are in your frequent flyer account, you can close the card.
As for picking cards, my general strategy is to check the banks that don't often have promos (e.g. Bankwest had a promo on their Qantas card earlier in the year, something they almost never do) as most banks will make you wait 12 months after closing a card before they'll let you have another bonus, so using the ones that don't do promos often is a good use of the waiting time.
ANZ, Westpac and St. George group usually always have a promo of some kind on with their cards, so they're always good to check. For a platinum card, I'd be expecting at least 50000 Qantas or Velocity points (or equivalent) and on a Black 75000 points as a typical bonus at the moment. Anything lower is not particularly worth bothering with in my opinion.
In comparison, ANZ Rewards would convert those 100,000 points into $400 cash into your ANZ bank account, or $450 worth of gift cards from a choice of major retailers (JB, HN, WW, Coles, etc), or $500 in gift cards from a small choice of specialist retailers (eg Flight Centre). I usually choose WW Wish cards as they can be used with many retailers.
So these would be better than flights redemption?
@Jared17: From a points per dollar standpoint, no.
To use the comparison of the flight to LA, that's about $1000 so you've got an effective rate of 1.1 cents per ANZ point. If you get enough for a Business class flight you'd be paying about $9000, to get a reward seat at 98000 Velocity points (196000 ANZ Points), you're at 4.5 cents per point.
With the gift cards, you've got 0.4 cents per ANZ point, so under half of the economy flight and one tenth the value of a business class flight.
In saying that, if you don't fly or travel often, it may not make sense to use them as Velocity points even if they are worth more from a monetary sense, so that may be better value for you as well.
(But please, for the love of god, don't redeem them for Flight Centre gift cards.)
Wow thanks mate. Appreciate the info and effort of the reply
Thanks everyone for the replies. cheers
Any expiry on this. They have a lot of old t&C on the bottom
Anytime.
Unlike other banks, ANZ don't have time limit on their CC offers. So could be gone in next month.
Individual or can you do in a business name
Personal only. You'd need to get a business card to put in the name of a business, and I don't think they've had in recent times a bonus offer for business cards.
Question for those churners. Do you just hold a card or two for a year and then cancel and go again for the following year? Does it cause any credit problems?
I hold for just under a year if the card has good features. Otherwise I'll cancel as soon as I get the bonus points. Usually have 2 or 3 cards at a time.
As long as you pay them off immediately and minimise the credit limit as low as possible, no dramas for credit score.
I cancel once I get the bonus. Apply about 3-5 a year.Credit score has dropped ab out 30 pts since beginning of the year. score is about 6xx.
Where do you check the score? Experian rates me average but all others rate me very good.
Have a paid report with equifax.
I might be missing something but the ANZ Rewards Travel Adventures offer still seems to be far better than this one if you are not planning to get both cards.
25k more Velocity points, Free return flight and 2 lounge passes per year (both of which cancel out the higher annual fee) and no international transaction fees.
All at the same points earn rate, minimum income requirement and minimum credit limit.
Already have travel adventures. The only card I have kept for longer than a year. Such a great card.
Yeh it is if you travel a lot and spend a ton on cc.
how much those points worth? $
I saw on Anz website, if converting to coles giftcards, roughly $450… So net of fees gets you $350
Can someone advise me on this.
I intend on spending roughly 3k today as I am traveling overseas within a few days. Am I able to make use of this offer if i sign up or do i need to wait to get approved and receive the card? Sorry I've never done this before nor do I use a credit card (still use debit =/).
Thanks a bunch!
I intend on spending roughly 3k today as I am traveling overseas within a few days. Am I able to make use of this offer if i sign up or do i need to wait to get approved and receive the card?
Unfortunately for you, you need the card first and that will typically take about a week.
Hey OzB fam, anyone know the time needed in between cards if we close one?
Wife has just closed ANZ QFF credit card and wondering how long we'll have to wait before applying for another one.
Thanks fam.
anyone know the time needed in between cards if we close one?
Wife has just closed ANZ QFF credit card and wondering how long we'll have to wait before applying for another one.
The ANZ "exclusion period" is 12 months, which is common. However, ANZ treat the Frequent Flyer, Rewards and Rewards Travel Adventure cards separately, so whilst it'll be another year before your wife is eligible for another ANZ FF card signup bonus, she's still eligible for signup bonuses on either (or both) of the other two, unless she currently holds one, or has closed it within the past 12 months.
Thanks mate!
a newbie question (have never used a credit card):
-how is free 55 days related to interest rate of 20.24% on purchases? Like if I buy something today worth $1000 with this CC, I have 55 days to pay out without paying any interest rate and that is I just pay $1000 back?
you have 'up to' 55 days interest free depending on your statement period. e.g. your statement could be from 1 Dec to 31 Dec and payment for the balance is due by 25 Jan. If you made a purchase on 1 Dec, it'll be due on the 25 Jan and so will all purchases made in the month of Dec. Hence, up to 55 days. If you pay off the full balance of the statement on the 25th of Jan, you pay no interest, if not you pay 20.24% pa on the balance owing from then onward. A word of advice, always pay off the full statement balance and set up direct debit so you don't forget. Also, make sure there's cash in your transaction account.
Thanks Neil - really helpful response - makes complete sense to me :)
Every month or 28 days the bank issues a statement of transactions made that month. If you pay that statement off in full before the due date, then you pay no interest. If you don't do that though, then you incur interest. The maximum time for a transaction made at the first date of a statement, and paid on the last due date would be 55 days, so it's really "up to" 55 days, and for purchases made at the last day of of a statement will be more like 55 - 30 = 25 days.
Personally I think it's a good idea to pay statements off in full as soon as you get them (if you can), ie the maximum benefit from having a credit card is from the bonus points, when being done by people who don't actually need any credit. If you're not in a position to be able to pay off in full each statement, then better to use a debit card, IMHO.
Personally I think it's a good idea to pay statements off in full as soon as you get them (if you can), ie the maximum benefit from having a credit card is from the bonus points, when being done by people who don't actually need any credit. If you're not in a position to be able to pay off in full each statement, then better to use a debit card, IMHO.
Paying statements off in full when they are due is ideal.
That way you can either earn interest on the funds, or have the funds in a home loan offset if you have one. For this reason I think it's good to put everything on the credit card rather than a debit card.
Thanks bohn and nickj for your detailed response - the concept is now clear to me :) and yes I will be setting up a direct debit, I only need CC for points :)
There is an alternative offer for those who just want to get the points without any minimum spend. If you apply through your internet banking account, it's 65,000 rewards points plus $50 cashback after the first purchase. So ~20k fewer Velocity points, but $50 cheaper and the only qualifying activity is a single transaction in the first three months.
Cool, thanks for the tip. I may take this offer.
If it helps, ANZ usually give you the points pretty soon after you hit the minimum spend, whereas St George wait until the second statement after the qualifying period regardless of how early you hit the minimum.
I was considering st George between this but after hearing all the problems people go through with st George, I opt out.
True. I'm only go to StG if there is none other better deals around that time.
They stuff up my application, made me go into branch twice to tell them to fix that. Have to into branch 3rd time to pickup the card (even I requested to send to home). Then another 4th time so that I can setup direct debit. They must be only bank that not busy at counter!
I just applied for the FF Black (https://www.anz.com.au/promo/personal/credit-cards/frequent-…) and got an automatic rejection. They say they'll send a letter out in seven business days outlining the reason(s) so it will be interesting to see what they may be - I have a very good to excellent credit score (Equifax/Experian/D&B), decent income, etc. Only thing I can think of is I closed an ANZ FF card 14 months ago, so perhaps I needed to leave it a bit longer.
I moved across from the ANZ FF black and applied for this and the travel adventures. They approved both at the same time.
Only thing I can think of is I closed an ANZ FF card 14 months ago, so perhaps I needed to leave it a bit longer
It's definitely not that.
I think it may be that - I’m in the same boat as you
…and got letter, and it told me nothing - just said the application was not approved due to the info I provided or the info in Equifax. Maybe it was the 13 months since last having a card with them, or I entered something wrong when applying as my Equifax rating is very good…. whatever, will move along.
@PlasticSpaceman: Make sure that the cardholder name you provided matches your drivers license identically, otherwise you will get an auto rejection. According to ANZ customer service.
Applied
Got the card, met the minimum spend. Don't have the bonus points this first statement. Maybe it will show up next statement.
Whats the turnaround on card approval
Im 14 days in and still no result?
I got an email in 4 days from application saying my card is in the mail coming my way.
got my bonus 100K so looking to close my card account but don't want to transfer my points to say QFF or VFF just yet, so if I were to close my card, will I lose my points or will they stay as is and I can transfer them later?
From https://www.anz.com.au/content/dam/anzcomau/documents/pdf/an….
In the event your card account is closed, any Reward
Points that remain unused must be used within 90
days of the date of closure. Reward Points that
remain unused after that period will be cancelled.
BTW, QFF isn't an option.
Thanks mate. Could you please share the link again - I'm getting - 404 Page not found.
Sorry, I forgot to leave a space before the trailing dots. Try….
https://www.anz.com.au/content/dam/anzcomau/documents/pdf/an…
There was often a transfer bonus to VFF in May and November, with ANZ usually being better than most (eg; 30%, and sometimes 50%, instead of the more common 15%). However, those days are probably over, and who knows if VFF will still be around once all the brown stuff has been removed from the fans?
@Colin2905: I was planning on waiting for a velocity bonus to transfer now I think I'll just cash out on gift cards. also they credited me the 100k twice. bank error in my favour!
Found this from some searching the ANZ site on meeting the eligible spend and what is not included.
Eligible spend does not include:
"Cash Equivalent Transaction’ means transfers of funds
to or from other financial institutions, foreign exchange
transactions, travellers cheque purchases, gambling
transactions, utility bills paid in person at a bank or Australia
Post or any bills paid using the Card in conjunction with
the BPAY scheme (if the billing merchant does not accept
credit card payment using the BPAY scheme) and any other
transaction that is treated as a cash advance."
$95 for 50K velocity points is decent. Thank you OP