ANZ Rewards Black Credit Card – Rates and Fees

18 July 2017

Collect up to 2 ANZ Rewards Points per $1 spent plus enjoy 75,000 bonus Reward Points and $0 annual fee for the first year with the ANZ Rewards Black credit card.

The ANZ Rewards Black credit card is designed to suit big spenders and high income earners who want to be rewarded for paying with plastic. You can earn ANZ Rewards Points per $1 spent and will receive a 75,000 bonus points when you meet the spend requirements as a new cardholder. Other exclusive benefits you can enjoy include complimentary insurances, airport lounge access and a 24/7 personal concierge. Unlike most black cards though, it also offers you plenty of ways to cut back on regular card costs.

ANZ Rewards Black credit card review

The ANZ Rewards Black is the most premium card offered in the lineup of ANZ Rewards cards. It offers no annual fee for the first year ($375 p.a. thereafter). Most black credit cards have an annual fee of between $300 and $450, so the card’s standard annual fee is relatively competitive.

The card also offers up to 2 ANZ Rewards Points per $1 spent on eligible purchases up to $5,000 per statement period. After this, you’ll earn 1 Rewards Point per $1 spent. However, you can avoid this points cap until 5 August 2017. Black credit cards typically earn between 0.5 points and 2 points per $1, so the ANZ Rewards Black credit card earn rate is relatively average and the points cap could limit your rewards potential.

Benefits of the ANZ Rewards Black credit card

• Sign up bonus points. Receive 75,000 bonus Reward Points when you apply, are approved, and spend $2,500 on eligible purchases in the first 3 months from card approval.
• No annual fee promotion. You can save on card costs with a promotional $0 annual fee for the first year. This will revert to the higher standard annual fee of $375 p.a. thereafter.
• Redeeming points. If you belong to a partnered frequent flyer program, you can transfer your ANZ Rewards Points for airline loyalty points with Virgin Australia’s Velocity, Air New Zealand, Singapore Airlines Krisflyer or Cathay Pacific Asia Miles. You can also redeem your points for cash back, gift cards and a variety of merchandise via the ANZ Rewards store. See our ANZ Rewards guide for further information on how to earn and redeem your points.
• Complimentary insurance. Cardholders can take advantage of overseas travel and medical insurance, interstate flight inconvenience insurance and rental excess cover. Plus, shop with peace of mind thanks to extended warranty insurance, a best price guarantee scheme and 90-day purchase security insurance.
• Airport lounge passes. Wait for your next flight in style with unlimited access to participating Véloce airport lounges outside of Australia for you and your additional cardholders.
• Personal 24/7 concierge. You can access a personal concierge who can help you with anything from travel planning, travel advice, restaurant or hotel bookings or even picking out gifts for loved ones. You can contact your concierge on 1300 580 765 in Australia or, if you are overseas, on +61 2 8987 1677.
• Interest-free days. If you pay your balance in full by the statement due date, you’ll receive up to 55 interest-free days on future purchases.
• Visa Entertainment. As a Visa cardholder, you’ll be invited to join Visa Entertainment. This gives you access to exclusive competitions, concert and festival pre-sales and discounts.
• Visa security. Your finances will receive an extra layer of security thanks to ANZ Falcon, ANZ’s Fraud Money Back Guarantee and worldwide emergency card replacement.
• Mobile payment technology. Apple Pay, Android Pay, ANZ Mobile Pay and Samsung Pay let you use your Apple, Android or Samsung device to tap and pay with your eligible ANZ credit card.

Rates and fees you can expect from the ANZ Rewards Black credit card

• Annual fee. This card offers a $0 annual fee for the first year, but will revert to $375 each year. From this amount, $320 goes to the annual account fee and $55 is allocated to the Rewards Program Service Fee.
• Purchase rate. Unless you repay your balance before the end of the statement period, your purchases will collect interest at a rate of 18.79% p.a., which is pretty standard among most black credit cards.
• Cash advance rate. Cash advances, such as ATM withdrawals and balance transfers, are charged a higher interest rate of 20.99% p.a.
• Foreign transaction fees. If you use this card to make foreign transactions overseas or when shopping online, you’ll be charged 3% of the transaction value.
• Additional cardholders. You can request up to 9 additional cardholders for a fee of $65 per cardholder. It comes at a cost, but this means you could use the card to manage your family or business expenses under the one account.
• Late payment. You’re required to pay a minimum of 2% of the closing balance each month by the due date. If you fail to do this, you’ll collect a late payment fee of $20.

How to apply for the ANZ Rewards Black credit card

If you would like to apply for the ANZ Rewards Black credit card, follow the link to fill out ANZ’s online application form. The form will take 10-15 minutes to complete and you will receive a response within 60 seconds. You will need to meet the following requirements and include the necessary information to apply:

Eligibility criteria checklist

• Age. Applicants must be at least 18 years old to apply.
• Income. You must earn at least $75,000 per year.
• Credit history. You need a good credit rating to receive approval.
• Residential status. You must be a permanent Australian resident, an Australian or New Zealand citizen or have a valid Australian 457 working visa and have at least nine months remaining from the date of application to apply.

Required documents and information

If you’re sure that you meet the eligibility criteria, make sure you can provide the following information and documents during the application:

• Proof of identification. You’ll be asked to provide a copy of your Australian driver’s licence (if applicable).
• Proof of employment. You’ll need to include information regarding your employment including your employer’s postal address and contact information.
• Self-employed information. If you are self-employed you will need to provide your accountant’s name and contact number as well as a copy of your most recent personal tax return and corresponding ATO Notice of Assessment.
• Pensioners, government benefits recipients and retirees. If you’re on a pension of receive a government benefit allowance, you’ll need to attach a recent statement from Centrelink or your most recent bank statement that show clearly labelled government income credits. If you’re retired, make sure to provide a copy of your Annual Investment Statement.
• Income. You’ll need to include details of your income, assets and liabilities as well as copies of recent payslips.
• Existing customer information. If you are already an ANZ customer you will need to provide your ANZ account number, which will help you complete your application faster.

The ANZ Rewards Black credit card offers premium perks without the cost of an annual fee for the first year. Plus, the high points earn rate, complimentary airline passes and a generous bonus Reward Points can help outweigh the costs of the card. As this isn’t the only black rewards credit card on the market, it’s wise to compare your options before you apply.

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