Cancelling Credit Card, What Happens to The Rewards?

LCallandor on 07/03/2022 - 09:05

I've got the ANZ rewards Black from the deal back in September/October. I want to cancel the card so I can be eligible for future cards.

I'm wondering, if I cancel the card what happens to my ANZ rewards account? Do I need to get all my points out first or can i just cancel the card and wait for the next 15% velocity deal?

Financial Credit Card

Comments

  • Hybroid on 07/03/2022 - 09:07
    +2

    Call ANZ and find out for sure.

  • kerfuffle on 07/03/2022 - 09:15
    +5

    Why wouldn't you get all your points out before cancelling the card?

    • Callandor on 07/03/2022 - 09:24

      Because I'd like to wait for a deal similar to this

      https://www.ozbargain.com.au/node/620534

      • kerfuffle on 07/03/2022 - 09:27
        +13

        Then don't close your card.

        • Mechz on 07/03/2022 - 10:56
          +1

          Yep, just don't use the card. Pretty easy solution.

          • brad1-8tsi on 07/03/2022 - 13:00

            @Mechz: The yearly fee after the first 12 months is quite a lot.

            I used all my ANZ Black points on woolworths gift cards and bought groceries

            • Mechz on 07/03/2022 - 16:47

              @brad1-8tsi: I didn't mean indefinitely, just until you have the points redeemed.

  • JMosk on 07/03/2022 - 09:59
    +4

    I think you get 60 or 90 days to use the points after cancelling the card from memory. But having dealt with ANZ in the past I have no doubt they will make it as difficult as possible for you.
    I'd use the points before cancelling the card

  • bitesized on 07/03/2022 - 10:59

    I've worked in Credit Cards for a few banks. While rewards programs may sit on a separate portal to the Bank's CC operations, the systems are tied together (lots of data going back and forth based on the customer's unique identifier). If a customer closes a CC, the link to the rewards program is not able to be sustained. This means your rewards profile will disappear or go dormant quickly.

    As suggested above, either get the points out before closing, or keep CC open till the next points transfer bonus.

  • me1stt on 07/03/2022 - 13:16
    +1

    https://www.anzrewards.com/faq

    In the event your ANZ Rewards 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. Please refer to the ANZ Rewards – Rewards Program Terms and Conditions for further conditions. We may also cancel Reward Points at our sole discretion if you die, if your card account is suspended, if you breach or any additional cardholder breaches the ANZ Rewards Terms and Conditions or the ANZ Credit Cards Conditions of Use or if we reasonably suspect you are operating your card account fraudulently.

  • Callandor on 07/03/2022 - 15:03
    +1

    All good guys, I transferred the points out and requested the card to be closed. I'd prefer to be eligible for another bonus points CC than to wait for a 20% transfer.

  • Gazpacho on 07/03/2022 - 22:55

    Are there any other reasons to hold onto ANZ Rewards points rather than redeeming asap ? Like sales/discounts off gift cards or something like that?

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