Discover how you could lose bang for your buck on your ANZ rewards.
4 February 2016: ANZ has announced that both the Black and Platinum ANZ Rewards cards will suffer a blow by the way of earn rates cuts come 22 March 2016. Learn exactly how much you could lose out on your ANZ Rewards here.
How are earn rates being cut?
The ANZ Black and Platinum Rewards cards will both experience earn rate cuts this March. However, the reductions you can expect will depend on the type of card you have. We’ve broken down how much you’ll earn here:
- ANZ Rewards Black American Express. If you hold the AMEX version of this card, you’ll be happy to know that the earn rate won’t be undergoing any changes and will remain at 3 Reward Points per dollar spent.
- ANZ Rewards Black Visa. If you have the Visa version, points are being reduced from 2 Points per $1 spent to 1.25 ANZ Reward Points per dollar.
- ANZ Rewards Platinum American Express. This card’s earn rate is falling from 3 to 2 points per dollar spent.
- ANZ Rewards Platinum Visa. The Platinum Visa will soon earn you 1 ANZ Rewards Point per $1 rather than the previous 1.5 points per dollar.
Snapshot of changes as of 22 March 2016
|Card name||Points earned per $1 spent: Old||Points earned per $1 spent: New|
|ANZ Rewards Black American Express||3||3 (No changes)|
|ANZ Rewards Black Visa||2||1.25|
|ANZ Rewards Platinum American Express||3||2|
|ANZ Rewards Platinum Visa||1.5||1|
|ANZ Rewards Card||1.5||0.75|
This information isn’t currently available on ANZ’s website and only existing ANZ Black and Platinum cardholders have been warned of these changes by email. This is important to consider if you’re planning on applying for an ANZ credit card in the near future.
While ANZ earn rates are being cut, so too are some of the credit card fees. The basic rewards card annual fee will be reduced by $9 and fees on its platinum card will lower by $54.
Unfortunately, ANZ isn’t the only provider reducing earn rates, with Citibank, Commonwealth Bank and Virgin Australia recently lowering their rewards offerings as well. If you’re unhappy with ANZ’s rewards cuts, you might want to start comparing other rewards credit card options before the reduced earn rates kick in this March.