In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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ANZ Rewards Platinum Credit Card – Velocity Points Offer

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ANZ Rewards Platinum - Velocity Points
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Terms and conditions apply
Balance transfer rate with no balance transfer fee
21.99% p.a.
Bonus points
100,000
Purchase rate
20.99% p.a.
Reward points per $ spent
1.5

Our verdict

Offers up to 100,000 bonus Velocity Points and complimentary insurance cover, with a $149 annual fee.

The ANZ Rewards Platinum is suited to people who want to earn Velocity Points on eligible spending. Right now, you can get 70,000 bonus Velocity Points when you apply by 15 November 2024 and spend at least $2,000 on eligible purchases within the first 3 months from card approval. And you can get another 30,000 Velocity Points when you keep your card open for over 15 months. To get all these bonus points, you'll need to turn on and keep on auto-redemption in your ANZ Rewards account within 3 months from approval so that you can convert your ANZ Rewards Points to Velocity Points.

You can also redeem points for cashback on your account, retail items or transfer them to Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Air New Zealand Airpoints.

Other features include complimentary insurance options for travel and purchases, as well as a 24/7 concierge. It also has an interest rate of 20.99% p.a. for purchases, so you’ll get more value from it if you pay off your balance each month to avoid interest charges.

Pros

  • Up to 100,000 bonus Velocity Points
  • Up to 1.5 ANZ Reward Points per $1 spent
  • Complimentary insurance covers, including international travel insurance, purchase protection insurance and extended warranty insurance

Cons

  • Low $2,000 threshold before the points per $1 rate is reduced (for that statement period)
  • Relatively high 20.99% p.a. interest rate for purchases
  • Relatively high $65 annual fee for each additional cardholder

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
From 7 June 2024, ANZ is making changes to its complimentary insurances for credit cards. For full details, please refer to the new insurance policy document from ANZ.

The ANZ Rewards Platinum has a $149 annual fee, which is competitive for a rewards card and earns up to 1.5 ANZ Reward Points per $1 on eligible purchases, which you can redeem for gift cards, frequent flyer point transfers and other rewards. It also offers complimentary international and domestic travel insurance, as well as other types of cover.

Details

Product details

Product Name ANZ Rewards Platinum - Velocity Points
Balance transfer rate p.a. 21.99%
Balance transfer limit 95% of available limit
Purchase rate p.a.
Purchase rate p.a.
20.99%
Interest-free period
Up to 55 days on purchases
Cash advance rate p.a. 21.99%
Min credit limit $6,000
Card type Visa

Eligibility

Available to temporary residents Yes - Conditions apply
Joint application No

Rewards

Rewards program Velocity Frequent Flyer
Bonus points 100,000
Rewards points per $ spent 1.5

Fees

Annual fee
Annual fee
$149
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $20
Foreign currency conversion fee
Foreign currency conversion fee
3%
Cash advance fee 3% or $3, whichever is greater
Overseas cash advance fee 3% of the transaction amount or $4 (whichever is greater)
Overseas ATM withdrawal fee $5
Additional cardholder fee $65
Number of additional cardholders 9

How to apply

You can apply for the ANZ Rewards Platinum credit card online in around 20 minutes. Before you start your application, make sure that you meet the eligibility requirements and have the necessary information.

Eligibility criteria

  • New customer. The bonus Velocity Points offer is only available to new ANZ Rewards credit card holders.
  • Residency requirement. Citizens and permanent residents of Australia are eligible to apply. If you are a non-Australian permanent resident, you must have an eligible working or business visa with at least 9 months remaining.

Card benefits

  • Up to 100,000 bonus Velocity Points. Receive 70,000 bonus Velocity Points when you apply as a new customer by 15 November 2024 and spend $2,000 on eligible purchases in the first 3 months from card approval. The other 30,000 Velocity Points will be credited when you keep your account open for over 15 months. The Velocity Points you receive will be converted from ANZ Rewards Points. To get the 70,000 and 30,000 bonus points offers, you'll need to turn on and keep on auto-redemption in your ANZ Rewards account within 3 months from approval so that you can convert your ANZ Rewards Points to Velocity Points. You'll receive an SMS or email with a reward code when you qualify for each offer.
  • Rewards program. You'll earn 1.5 ANZ Reward Points per $1 on eligible spending up to $2,000 in a statement period, then 0.5 points per $1 on eligible spending above $2,000 for the rest of that statement period. You can redeem points for gift cards, cashback and products from the ANZ Rewards Store. Or convert them to frequent flyer points with Velocity, Air New Zealand Airpoints, Cathay Pacific Asia Miles and Singapore Airlines KrisFlyer. See Finder's ANZ Rewards program guide for more details. ANZ Reward Points convert to Velocity Points at a rate of 2 ANZ Reward Points to 1 Velocity Point.

Rates & fees

  • Annual fee. This card has an annual fee of $149, which includes a $94 annual fee and a $55 rewards fee.
  • Purchase rate. There is a 20.99% p.a. variable interest rate for purchases made with this card.

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Richard Finder

Editor

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