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ANZ Platinum Credit Card 0% p.a. for 17 Months on Purchases and $0 Annual Fee in First Year


I just picked this up for a large purchase, can't go wrong if you have capacity to pay something off within 17 months, certainly better than a loan.

Annual fee
$0 first year, $87 after that (or $0 if you make $20,000 of eligible purchases in 12 months)

The lower interest rate of 0% p.a. will apply to purchases on your ANZ Platinum credit card account for a period of 17 months from the date of account approval. Any purchases that remain unpaid at the end of this period will become subject to the standard purchases annual percentage rate applicable to your credit card account.

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  • +1

    Sounds too good to be true unless I am mistaken which I think I am. What do you make of it.. lets say 1000 dollar limit , spend 1000 dollars in the first month..pay back 1000 after 17 months and no interest applies? Is that how it works ? I meant pay back minimum charges on the 1000 for 16 months and pay off balance on the 17th month no interest applies ? Limits would be really low if that is the case I am guessing.

    • Minimum,6k limit**

    • +1

      It's not. You still have a minimum amount (percentage of the total amount you've spent on the card) that you have to pay back each month. Have used one of these cards to pay for a new car myself last year.

  • +1

    Not talking about this specific deal but I have used 20k for over three four years using such deals from various banks. Avail 0% (or low 1-2% p.a.) balance transfer. Set up direct debit to pay off that amount in required months. If you couldn’t balance transfer again to other bank.
    Just one caution - never miss a payment. Protect your credit rating!
    Good luck.

  • Well my cards are on auto debit full outstanding amount every billing cycle to negate interest charges, 17 months interest free !! Is it just me or anyone else seen a deal like this before and how do you take advantage of it ..pay minimum amount and let the debt accrue month on month for 16 months ? Or have I completely missed the point..to me this is mind blowing..17 months interest free !!

    • +2

      Don’t know anyone else who does what I do, but I use my card for all annual bills and everyday spend. Kinda helps with my budgeting and buckets I’ve got set up. But really just accrue all that debt while freeing up my entire pay check to shovel into the mortgage. So the capability to pay it all off at the end is there, but also reducing my mortgage interest ever so slightly.

      But yeah, only minimum repayments every month, until the 17th month when I redraw and wipe out the card entirely.

      Don’t forget the minimum $20k spend in a year required to waive the $87 annual fee. But that’s easily achieved.

  • I would appreciate an answer from anyone who has used a deal like this before. Currently all my cards are paid to full outstanding amount at the end of ever month..if I get one of these cards and set up auto payment for minimum required payment at month end and then pay off the full outstanding amount in the 17th month then I pay no interest on the spend in the 17 month period.. that is how I read it..Is that correct ? If it is that is bloody brilliant

    • Yep, thats how it it. Nothing new or surprising. I’ve had NAB and Citi and Bankwest cards with 0% pa for purchases before. If you can pay off within the specified time limit then yes its great.

    • -2

      Guys this card is 0% for 17 months!! ^1

      1: Offer only available to new and approved credit card applicants who apply for an ANZ Platinum credit card account with the purchase rate offer. This is a limited time only offer which may be withdrawn or changed at any time without notice.


      • +2

        This card and this offer seems to be here all the time afaik. I have been on this exact same card since September now, it’s been around for a while.

        Edit: Wait, I see what you're getting at. Once you're approved and signed on, you're locked in with 0% on purchases for 17 months, they can't change the contract on you. But this offer that they're advertising with this card, yeah they could pull it anytime. But likely replace it with something else enticing.

  • Just competing with non bank payment options it seems. Although for the initial term it looks to be a better deal.

  • +1

    Do not spend money you don't have on small purchases.

  • The previous deal with $500 gift card and $0 annual fee was a better deal. I received my gift card this month :D

    • Horses for courses.
      $10,000 paid off over 17 months, interest saved @ 20% is $1,517.59

      • +12

        if you're paying interest on your credit card then you're using it wrong.

        • Yeah if you had the $10k upfront on day 1 then rather than pay off the credit card, you could put it into a “high interest “ acct for a year and earn $100odd before paying off the credit card at the end of the period

      • This calculation is wrong its $10000*20%/12 *17 which is more than 3k.

        Though most people will only be saving their mortgage interest which is only 2% not 20% so it's $300 ish.

        Hardly worth it, better to chase sign up bonuses

  • -1

    Has anyone used their credit card to pay their rents? Thinking this card might be useful for that

    • You'll get a fee

    • Yes but via Citi Payall, not this card. No fees for paying rent on that card at the moment

      • interesting, what's stopping anyone to transfer funds to your mates account on a weekly basis just to earn points?

  • anyone know of any promo codes for existing anz card holders? all i was offered on the phone was 0% for 12 months for a BT but a 3% fee. also anyone know what's the criteria to receive a targeted free upgrade from the card to platinum and keep the annual fee at $30 ?

    • Banks don't care about existing customers. Cancel your credit cards as soon as you get the signup bonus.

  • What’s the minimum income for $24k limit? Will need to pay out the residual for a novated lease soon and this could save me over $1k interest if I don’t have to redraw from my offset account!

    • Depends entirely on other factors than income, they took me through pages of forms on expenses, dependants, other loans/cards etc.
      Based on my experience though, for 24k your income would have to be well over 100k.

  • Is there a limit on no. of purchases? Suppose I swiped it for $5000 on first purchase and again $2000 on second purchase. Can I pay $7000 in 17 months Or it is applicable to only first purchase?

    • Would be on all purchases

    • All purchases within 17 months.

    • Ideally each purchases should have 17 months period to pay.

      so in your case say you made first purchase of $5000 in Jan and second purchase of $2000 in Feb then by Feb you should have 16 month left to pay the initial $5000 but 17 months left to pay the second purchase of $2000

      However, I couldn’t see anything on their PDS to confirm this

      • I couldn’t find anything either so directed it to larger group.

    • Monthly minimum payment is required

      • I am even happy to split it over 17 months

  • This is good deal if you good with your money, I'm still with cba diamond don't know why.

  • -1

    Good luck with your application with anz. I applied several times and got rejected every time. I hv no credit issues n my salary is way beyond the minimum requirement.
    I think anz is only doing this to acquire your personal financial information.

  • Good to buy 2nd hand car i think, anyone know the fees charged by dealers if paying by credit card? Looking for around 20k

  • There is another ANZ card with 12 month free.
    While this is the better deal I am wondering if I don't want to risk being rejected for a 6000 min limit better to apply for https://www.anz.com.au/personal/credit-cards/low-annual-fee/... — This one has 1000 min limit

  • Applied, got approved, then was asked to come into the bank to provide more ID. Bit of a run around tbh.

    Forgotten how useless ANZ are..

  • Does this impact credit score? If I pay in say 6 months. With minimum or more every month of course

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