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Terms and conditions apply

Balance transfer rate with no balance transfer fee: 21.99% p.a.
Bonus points: 80,000
Purchase rate: 20.99% p.a.
Reward points per $ spent: 1.5

Our verdict

Offers up to 80,000 bonus Velocity Points, $50 back on your card 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 60,000 bonus Velocity Points when you apply, are approved and spend at least $3,500 on eligible purchases within the first 3 months from card approval. And you can get another 20,000 Velocity Points when you keep your card open for over 15 months from activation. To receive the full bonus points, you'll need to turn on and keep auto-redemption enabled in your ANZ Rewards account within 3 months from approval so that you can convert your ANZ Rewards Points to Velocity Points. You'll also receive $50 back, adding extra value to this offer.

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 80,000 bonus Velocity Points
$50 back on your new card
Up to 1.5 ANZ Reward Points per $1 spent

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

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 days	Up to 44 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	ANZ Rewards Program / Velocity Frequent Flyer
Bonus points	80,000
Rewards points per $ spent	1.5

Fees

Annual fee	$149
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3.5%
Cash advance fee	3% of transaction value or $3, whichever is greater
Overseas cash advance fee	3% of transaction value 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 few minutes and receive a response within 60 seconds. 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 and the cashback offers are only available to new cardholders who have not held any ANZ Frequent Flyer or ANZ Rewards credit card products in the last 24 months.
Residency requirement. Citizens and permanent residents of Australia are eligible to apply. If you are a non-Australian permanent resident, you must have at least 12 months remaining on a valid working, business or investor visa.

Credit history. You must have a good credit score and history. You can get your credit score and comprehensive credit report for free through Finder.
Age. Applicants must be at least 18 years old.

Required documents

Personal details. Your Australian driver's licence for identification purposes (don't worry if you don't have a licence, you can still apply).
Income and finances. You will need to provide information about your income, your expenses, assets and any liabilities. You'll also need to provide two recent pay slips for income verification. If you're a tax resident in another country, you'll need to provide your Foreign Tax Number.
Employment. You'll need to confirm your current employment and provide your employer's contact details. If you're self-employed, you will need to provide your accountant's details.

Go to ANZ's site More info

Card benefits

Up to 80,000 bonus Velocity Points. Receive 60,000 bonus Velocity Points when you apply as a new customer and spend $3,500 on eligible purchases within the first 3 months from card approval. The additional 20,000 Velocity Points will be credited when you keep your account open for over 15 months from activation. The Velocity Points you receive will be converted from ANZ Rewards Points. To get the 60,000 and 20,000 bonus points offers, you'll need to switch 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.
$50 back. You'll get $50 back on your new ANZ Rewards Platinum account when you apply, are approved and spend $3,500 on eligible purchases in the first 3 months.

Rewards program. You'll earn 1.5 ANZ Reward Points per $1 on eligible spending up to and including $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. ANZ Reward Points convert to Velocity Points at a rate of 2 ANZ Reward Points to 1 Velocity Point.
Complimentary insurance covers. The ANZ Rewards Platinum credit card offers a range of complimentary insurances when you use it to pay for eligible travel and shopping. This includes international travel insurance, domestic travel insurance, rental vehicle excess in Australia insurance, purchase protection insurance and extended warranty insurance. Get more details in Finder's guide to ANZ credit card complimentary insurance.
Mobile payment technology. You can link your account with Apple Pay, Google Pay and Samsung Pay to make contactless payments with an eligible smartphone or smartwatch. You can also use your fitness tracker via Garmin Pay.
Personal concierge. Your 24/7 personal concierge service can help you with lifestyle and travel tasks including booking travel, organising a gift for a loved one or securing tickets to a concert.

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.

Interest-free days. You can get up to 44 days interest-free on purchases when you pay the total amount listed on your statement by the due date.
Cash advances. Cash advances, such as balance transfers and ATM withdrawals, attract an interest rate of 21.99% p.a. You'll also be charged a cash advance fee of 3% of the transaction amount or $3 in Australia and 3% of the transaction amount or $4 (whichever is greater) overseas.
Foreign currency conversion fee. If you use this card to make purchases overseas or when making foreign transactions online, you'll be charged a currency conversion fee of 3.5%.
Additional cardholders. You can request up to 9 additional cardholders, which can help you earn more reward points while you manage your family or business expenses. However, there is an additional $65 annual fee for each cardholder.

Go to ANZ's site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. ANZ Rewards Platinum Credit Card information PDF
2. ANZ Rewards Platinum Credit Card TMD

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Belinda

October 24, 2024

More info on travel insurance

Angus Kidman Finder

October 24, 2024

Hi Belinda, To qualify for the complimentary insurance, you need to spend at least $250 on travel using the card (and for domestic, you’ll need to pay for all flights involved using the card). Our guide to travel insurance with ANZ credit cards has a lot more information on how it works, and you can check out the entire PDS from ANZ if there’s a very specific feature you want to check. Hope this helps!

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Lachlan

October 01, 2024

If i am a member of ANZ banking and held the Adventure travel rewards credit card about 3-4 years ago. Am i still entitled to the bonus points?

Angus Kidman Finder

October 01, 2024

Hi Lachlan, The terms and conditions say the offer is only available to customers who haven’t held a Rewards card in the last 12 months. Since you held yours longer ago than that, you should qualify – provided you did actually cancel the previous card. Hope that helps.

winston

June 12, 2024

what level of income is required for anz platinum reward card

Sarah Megginson Finder

June 28, 2024

Hi Winston,

The minimum credit limit for this card is $15,000 and generally, the minimum income requirement is around $75,000, though your eligibility depends on your expenses, debts and credit rating.

Hope this helps!

Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full profile

ANZ Rewards Platinum Credit Card – Velocity Points Offer

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

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