Full Information to the ANZ Rewards Program

On this information, have a look at what’s new and what’s coming quickly with ANZ Rewards, who up to date their program late 2021. ANZ has 4 rewards-earning bank cards, so we’ll present you the way they stack up for worth.

🔥 Earning Factors

First issues first. How do you earn factors as a member of ANZ Rewards?

As an in-bank rewards program, ANZ Rewards provides factors incomes by way of its ANZ Rewards bank cards. There are 4 playing cards at the moment supplied throughout the ANZ Rewards vary, that are tiered to go well with totally different ranges of spending.

• The ANZ Rewards Card is the entry-level ANZ Rewards earner, providing the bottom earn charge – and the bottom annual payment.
• Subsequent on the ladder is the ANZ Rewards Platinum Card, which provides the next earn charge and extra extras, in return for the next annual payment.
• High of the heap is the ANZ Rewards Black Card, which steps it up once more with the next earn charge, a number of extra extras, and once more, the next annual payment.
• Sitting outdoors the tier system is the ANZ Rewards Journey Adventures Card, which primarily provides the identical earn charge and extras because the Platinum card, with the added bonus of getting no worldwide transaction payment.

We’ll focus on every of those playing cards in additional element within the following part.

What else do you could learn about factors incomes inside ANZ Rewards?

On every card, you possibly can get pleasure from uncapped factors incomes. This primarily means that you can proceed incomes factors in your purchases, regardless of how a lot you spend every month.

It’s value stating, nonetheless, that every card throughout the ANZ Rewards vary constructions its earn charge. So, whilst you could possibly earn as many factors as you need, when you attain a sure spending threshold every month, your earn charge per $1 will drop.

As for what transactions are eligible for factors incomes, you’ll earn factors on most purchases. Transactions exempt from factors incomes embody curiosity fees, authorities fees, financial institution charges, funds made to the ATO, stability transfers and money advances.

And factors expiry? Based on this system’s phrases, you need to use your factors inside 36 months of 31 December of the yr wherein the factors have been earned. Factors that stay unused after that interval can be cancelled.

When you select to shut your ANZ Rewards account, may have 90 days to redeem your factors earlier than they expire.

One final be aware on factors incomes entails the Bonus Factors Mall. Previous to the ANZ Rewards program improve, cardholders might earn bonus factors on spending at sure retailers. Whereas ANZ flags the Bonus Factors Mall will return quickly, it has not but been reintroduced to this system.

ℹ️ Intro Bonus Factors

Like most rewards applications, ANZ Rewards provides bonus factors introductory provides to entice new cardholders to use for its bank cards.

How do these intro provides work?

Whenever you apply for a card with a bonus factors intro provide, you’ll obtain a specified variety of bonus factors after assembly the minimal spend necessities as set out by the provide.

An instance? Let’s say you apply for a card with an intro provide of 75,000 bonus factors. The provide states you need to spend a minimum of $1,500 in your card throughout the first three months from card approval.

So, all you could do is spend $1,500 on eligible purchases inside that timeframe (these are often the identical kinds of transactions that will let you earn rewards factors), and your account will then be credited with 75,000 factors to spend as you want.

It’s value stating that as these provides are designed to draw new cardholders, they’re solely supplied to new cardholders.

By way of ANZ Rewards playing cards, which means you can’t at the moment maintain, or have opened or closed any card throughout the ANZ Rewards vary within the final 12 months.
 

Time to check ANZ Rewards playing cards to see how they work and what they’ve to supply.

Let’s begin out by introducing the basic – or entry-level – card throughout the ANZ Rewards vary. That is the ANZ Rewards Card.

As a basic rewards card, extras on the ANZ Rewards Card are fundamental. You get the usual set of safety and cost options, alongside entry to Cashrewards Max (ANZ’s cashback providing, which supplies cashback offers to cardholders after they spend with companion retailers).

To use for the ANZ Rewards Card, you need to:

• Be 18 years of age or over.
• Be a everlasting Australian resident or a non-permanent resident with greater than 9 months remaining in your Visa.
• Have an excellent credit standing.

ANZ doesn’t present a minimal revenue requirement on any of its ANZ Rewards vary. In case you are fascinated about making use of for a selected card, it may be a good suggestion to begin with the cardboard’s minimal credit score restrict to gauge anticipated spending ranges. When you’re nonetheless not sure, contact ANZ to get a tough concept of what’s anticipated of you.

One other issue to take into consideration ought to be your anticipated spend – and whether or not it’ll provide worth by way of the rewards you earn.

To offer you an concept of how this may work, you would wish to spend round $30,000 per yr (or $2,500 per thirty days) on the ANZ Rewards Card to interrupt even after paying its annual payment.

On a month-to-month spend of $2,500, you’ll earn 1,750 factors every month, or 21,000 factors per yr. This may equal $84 in cashback worth, or $94 in present card worth, which might simply cowl the cardboard’s annual payment.

Shifting on up the ladder, the ANZ Rewards Platinum Card combines the next earn charge and the next factors shaping threshold, with a number of platinum perks.

Platinum perks on the ANZ Rewards Platinum Card give attention to complimentary insurances.

For abroad journey:

• Worldwide Journey Insurance coverage

For journey inside Australia:

• Rental Automobile Extra in Australia Insurance coverage
• Home Journey Insurance coverage

To your purchases:

• Buy Safety Insurance coverage
• Prolonged Guarantee Insurance coverage

Cardholders can even profit from entry to a private concierge and Visa Provides + Perks.

Said eligibility standards is similar because the basic ANZ Rewards Card, however you’ll doubtless have to satisfy increased revenue necessities and different standards to get permitted for the Platinum card, because of its increased minimal credit score restrict.

And spend? To interrupt even on this card’s annual payment year-to-year, you would wish to spend a minimum of $1,300 per thirty days or $15,600 per yr. On this spend, you’ll earn 23,400 factors, equal to $94 in cashback worth, or $102 in present card worth.

Taking into consideration the intro provide, you’ll get $200 in cashback worth or $220 in present card worth from the 50,000 bonus factors provide. On prime of that, any factors you do earn within the first yr are ‘free’, as a result of there is no such thing as a annual payment.
 

On prime of the ladder is the ANZ Rewards card, offering the vary’s highest earn charge and a few further perks on prime of what’s on provide on the Platinum card.

Extras on the ANZ Rewards Black Card embody the identical complimentary insurances because the ANZ Rewards Platinum Card, alongside entry to a private concierge and Visa Provides + Perks.

The primary further further comes within the type of Exclusives by ANZ, which primarily supplies entry to unique, invitation-only occasions.

Once more, the acknowledged eligibility standards for the ANZ Rewards Black Card is similar as the opposite playing cards inside this vary, nonetheless, you’ll doubtless want to satisfy a lot stricter necessities by way of your revenue and credit score historical past with the intention to be permitted.

So, how a lot would you could spend to make paying that annual payment worthwhile? When you spent $4,000 every month, or $48,000 per yr, you’ll earn 96,000 factors within the yr. That equates to $384 in cashback worth, or $417 in present card worth.

Within the first yr, you could possibly get pleasure from further worth, as you pay no annual payment, whereas having fun with a lift from the bonus factors provide. Redeeming 80,000 factors, you’ll get $320 in cashback worth, or $350 in present card worth.
 

Set outdoors of the tiered choice of ANZ Rewards playing cards, the ANZ Rewards Journey Adventures Card focuses on journey advantages, that includes no worldwide transaction payment on purchases.

The ANZ Rewards Journey Adventures Card mainly provides the identical extras because the ANZ Rewards Platinum Card, together with the complimentary insurances and private concierge service, whereas substituting entry to Visa Provides + Perks for no worldwide transaction payment.

Every of the opposite playing cards throughout the ANZ Rewards vary fees a world transaction payment of three%, so that is what’s designed to set this card aside.

With the next annual payment than the Platinum card, nonetheless, you would wish to spend extra per thirty days to see worth on the ANZ Rewards Journey Adventures Card.

To interrupt even on the cardboard’s annual payment, you would wish to spend a minimum of $1,700 per thirty days, or $20,400 per yr. This may will let you earn 30,600 factors per yr, equal to $122 in cashback worth, or $133 in present card worth.

The 40,000 bonus factors provide would offer you an extra $160 cashback worth, or $173 present card worth within the first yr.

🟢 Additional Cardholders

Within the card tables above, we talked about further cardholders, noting what number of further cardholders may very well be added to every account, and the way a lot every further cardholder would value in annual charges.

It’s value taking into consideration that including an extra cardholder to your account may also help you to earn factors quicker. Nevertheless, sure elements must be considered earlier than you implement this selection.

First up, the extra cardholder annual payment. Whereas some playing cards permit further cardholders to be added to an account without cost, there’s a payment to do that on every card throughout the ANZ Rewards vary.

Earlier than including an extra cardholder, think about how way more you’ll pay in annual charges to take action. Take into consideration whether or not that further value can be roughly than the worth of rewards the extra cardholder spending brings in.

It’s additionally a good suggestion to contemplate factors shaping and factors caps earlier than including an extra cardholder. Whereas the ANZ Rewards vary doesn’t cap factors, it does form factors, lowering the earn charge as soon as a sure spending threshold has been reached.
 

🛒 Using Factors

Now it’s time to take a look at redemption choices. What are you able to get again in rewards once you redeem factors on the ANZ Rewards program?

ANZ Rewards at the moment provides 3 ways to redeem Reward Factors.

• Reward playing cards from a variety of outlets, the place 2,300 Reward Factors equal $10.
• Cashback on the bank card, the place 1,250 Reward Factors equal $5.
• Switch to airline companions:
  • Asia Miles 3:1 (the place 3,000 Reward Factors equal 1,000 Asia Miles)
  • Air New Zealand Airpoints 200:1
  • Singapore Airways KrisFlyer 3:1
  • Velocity 2:1

ANZ states:

“A couple of of our earlier redemption choices are nonetheless getting their ending touches, able to return within the coming months.”

First, some fantastic print.

Solely the first accountholder can redeem factors to say rewards. In different phrases, further cardholders aren’t allowed to say rewards.

Additionally, you can’t declare a reward by pooling factors from a lot of card accounts. So, you and your companion, for instance, couldn’t declare a reward from a pool of your two rewards balances.

Okay, rewards. As we talked about earlier, ANZ Rewards has acquired a makeover. In truth, it’s nonetheless within the means of ending up that makeover. Because of this, not all rewards can be found to say. Let’s check out what’s out there now – and what’s but to come back.

Some issues to look out for embody:

• Merchandise redemptions, on gadgets comparable to electronics and homewares.<b
• Auto-redemptions linked to companion applications.
• Factors Plus Pay, which might will let you make up the distinction in your card once you don’t have sufficient factors for the reward you need.
• Bonus Factors Mall, the place you possibly can earn further Reward Factors once you store on-line with sure manufacturers.

You’ll be able to redeem your ANZ Rewards factors on a variety of eGift playing cards. Retailers embody well-known names comparable to Amazon and Apple, Large W and Bunnings, Dan Murphy’s, Myer and Sephora.

Experiences are additionally on the desk, by way of eGift playing cards for Endota Spa and Occasion Cinemas, Pink Balloon and Ticketmaster. And, whilst you can’t e-book journey together with your factors proper now – extra on that in a minute – you possibly can decide up a Flight Centre eGift card together with your factors.

Fortunately, ANZ Rewards utilises a standardised redemption worth throughout all eGift playing cards, so you understand you’re going to get the identical worth, no matter which eGift card you select. There are additionally a variety of denominations on provide (relying on retailer), so you possibly can redeem massive or small.

Listed below are the variety of factors you would wish to redeem for every main eGift card worth.

• 2,300 factors = $10 eGift card
• 5,560 factors = $25 eGift card
• 11,115 factors = $50 eGift card
• 22,225 factors = $100 eGift card
• 55,560 factors = $250 eGift card
• 111,000 factors = $500 eGift card

Alternatively, you could possibly redeem your factors to scale back the stability in your card, or prime up your eligible ANZ checking account.

With this selection, you’ll obtain $5 cashback for each 1,250 factors you redeem.

As you possibly can see from the examples above, cashback provides barely much less worth on redemption than present playing cards.

To get pleasure from $10 of eGift card worth, you would wish to redeem 2,300 factors, whereas $10 of cashback worth would require 2,500 factors.

As with all reward, you would wish to weigh up the professionals and cons of every redemption possibility, to seek out out the place the true worth lies for you.
 

✈️ Using Factors for Journey

Previous to its makeover, ANZ Rewards allowed cardholders to e-book journey utilizing factors through its ANZ Vacation Rewards service.

As this is likely one of the providers that’s but to be reinstated, utilizing factors for journey inside ANZ Rewards can now solely be achieved by redeeming factors for a Flight Centre eGift card, or by transferring factors to one of many program’s frequent flyer companions.

You’ll be able to switch ANZ Reward Factors to Cathay Pacific’s Asia Miles program at a charge of three:1 (the place 3,000 Reward Factors equal 1,000 Asia Miles).

Transfers begin at 3,000 Reward Factors, going up in increments of 1,500 Reward Factors. ANZ Rewards notes a redemption time of as much as 18 enterprise days to finish every switch.

• Air New Zealand Airpoints

You’ll be able to switch ANZ Reward Factors to Air New Zealand’s Airpoints program at a charge of 200:1 (the place 200 Reward Factors equal 1 Airpoints Greenback).

Transfers begin at 2,000 Reward Factors, going up in increments of two,000 Reward Factors. ANZ Rewards notes a redemption time of as much as 6 enterprise days to finish every switch.

You’ll be able to switch ANZ Reward Factors to Singapore Airways’ KrisFlyer program at a charge of three:1 (the place 3,000 Reward Factors equal 1,000 KrisFlyer Miles).

Transfers begin at 1,500 Reward Factors, going up in increments of 1,500 Reward Factors. ANZ Rewards notes a redemption time of as much as 15 enterprise days to finish every switch.

You’ll be able to switch ANZ Reward Factors to Virgin Australia’s Velocity program at a charge of two:1 (the place 2,000 Reward Factors equal 1,000 Velocity Factors).

Transfers begin at 2,000 Reward Factors, going up in increments of two Reward Factors. ANZ Rewards notes a redemption time of as much as 5 enterprise days to finish every switch.

It’s value mentioning that with the intention to switch ANZ Reward Factors to one of many program’s companions, you have to be a member of that program.

ANZ Rewards additionally notes that transfers at the moment must be accomplished over the cellphone by calling the ANZ Rewards Centre on 1300 367 763 throughout enterprise hours (8am to 8pm AEST, Monday to Friday excluding nationwide public holidays).

You can begin your redemption on-line, however you’ll need to name to confirm your particulars with the intention to full the redemption inside seven days.

🔜 Coming Quickly

So, what else is within the pipeline for ANZ Rewards?

On its web site, ANZ says that a number of of its earlier redemption choices are nonetheless “getting their ending touches”, and are set to return within the coming months. Right here’s what you possibly can count on as soon as this system’s makeover is full.

• Merchandise: ANZ Rewards is “working to carry particular merchandise comparable to homewares or electronics again”. Merchandise rewards will doubtless be supplied through the ANZ Rewards Retailer, or one thing comparable.
• Bodily Reward Playing cards: Proper now, ANZ Rewards solely provides eGift playing cards. Nevertheless, the financial institution states bodily present playing cards can be making a comeback quickly.
• Journey: ANZ doesn’t present any particular information relating to the return of ANZ Vacation Rewards. It could carry again this journey reserving service or one thing comparable, which might permit members to make use of their factors to e-book flights, lodging and actions.

Different issues to look out for embody:

• Auto-redemptions (permitting you to hyperlink to companion applications and switch your factors routinely to that program).
• Factors Plus Pay (permitting you to make up the distinction in your card once you don’t have sufficient factors to redeem the reward you need).
• Bonus Factors Mall (the place you possibly can earn further Reward Factors once you store on-line with sure manufacturers).

⚖️ Why Select ANZ Rewards?

ANZ Rewards is a nicely rounded rewards program, providing clear redemption choices within the type of cashback and eGift playing cards. Members even have the choice to switch factors to a pleasant choice of companion frequent flyer applications, providing conversion charges on par with different in-bank applications.

As ANZ Rewards completes its makeover, this system ought to present extra useability and adaptability.

By way of playing cards incomes ANZ Rewards, the tiered choice ought to will let you select the extent of card that works on your spending, with some good perks on the upper finish choices. Whereas not one of the playing cards throughout the ANZ Rewards vary caps factors, it’s value listening to factors shaping – and the way it could have an effect on your earn.

As for bonus factors provides, these will change over time, however they’ll present severe worth when the provide is large enough.

Photograph supply: Getty Pictures