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ANZ Rewards

An ANZ Rewards credit card gives you points per $1 spent that you can redeem for all kinds of rewards. Here’s how it works and what your points are worth.

ANZ Rewards gives you a way to earn points on your credit card spending, which you can redeem for gift cards, frequent flyer points, cashback and retail items.

Similar to other credit card reward programs, the range of rewards means you have the flexibility to choose rewards based on what you want at the time. This can be really useful if you're a member of a few frequent flyer programs, because you can transfer ANZ Rewards Points to Velocity Frequent Flyer, Air New Zealand Airpoints, Asia Miles or Singapore Airlines KrisFlyer.

How to earn ANZ Rewards points

When you have an ANZ Rewards credit card, you’ll earn points for each $1 of eligible spending. Depending on the card, the amount of points you earn is different:

Credit cardEarn ratePoints cap and expiry details
ANZ Rewards Platinum Credit Card
ANZ Rewards Platinum Visa
1.5 points per $1 spent on eligible purchases up to $2,000 per statement period, then 0.5 points per $1 spent for the rest of the statement period.
  • No annual points cap.
  • Points expire 36 months after the 31 December for the year they were earned.
Picture not describedANZ Rewards Black credit card image
ANZ Rewards Black Visa
2 points per $1 spent on eligible purchases up to $5,000 per statement period, then 1 point per $1 spent for the rest of the statement period.
  • No annual points cap.
  • Points expire 36 months after the 31 December for the year they were earned.

What are "eligible purchases"?

Most everyday spending is eligible to earn points, including your groceries, petrol, dining out or even a doctor’s appointment.

But cash advances, balance transfers, gambling transactions and account fees are not eligible for ANZ Rewards Points.

Bonus point offers

If you don't have an ANZ credit card at the moment, getting one with introductory bonus points offer could give you thousands of bonus points for meeting a spend requirement. For example, a Rewards Platinum card can give you 100,000 bonus points when you spend $2,000 on eligible purchases in the first 3 months.

The bonus point offers on ANZ Rewards credit cards are only available for a limited time. Make sure to check before you apply to see if there's a deal that you want.

Redeeming ANZ Reward Points

Rewards are how you get value from the points that you earn. You can start redeeming from as low as 1,250 points and you’ll generally get more valuable rewards when you have more points.

There are 4 main types of rewards you can get with these points:

  • Gift cards. Get a digital or physical gift card to spend with partnered brands like JB Hi-Fi, Woolworths, Coles or Bunnings. The value depends on the gift card but, to give you an idea, you could get a $10 Woolworths WISH gift card for 2,300 ANZ Rewards Points.
  • Cashback. You can use points to get cash back on your ANZ Rewards credit card, which helps lower the balance. With this reward, every 1,250 points gives you $5 back on your account. Just keep in mind that cashback doesn’t count towards your minimum monthly repayment, so check your statement to see what you still need to pay by the due date.
  • Retail items. The ANZ Rewards Store lets you shop with your points across categories including fashion accessories, fitness and health, kitchen, kids and techology.
  • Point transfers. If you’re saving up points for flights or other rewards with a frequent flyer program, you could transfer ANZ Rewards Points to Velocity Frequent Flyer, Air New Zealand Airpoints, Singapore Airlines KrisFlyer or Asia Miles. Point transfers have the following rates:
Airline loyalty programTransfer rateMinimum transferTransfer time
Velocity Frequent Flyer2 ANZ Reward Points = 1 Velocity Point2,000 ANZ Reward PointsWithin 5 business days
Air New Zealand Airpoints2,000 ANZ Reward Points = 10 Airpoints Dollars2,000 ANZ Reward PointsWithin 6 business days
Asia Miles1,500 ANZ Reward Points = 500 Asia Miles3,000 ANZ Reward PointsWithin 18 business days
Singapore Airlines KrisFlyer1,500 ANZ Reward Points = 500 KrisFlyer Miles1,500 ANZ Reward PointsWithin 15 business days

How much are ANZ Rewards Points worth?

There is no fixed value for ANZ Reward Points because each reward requires a different amount of points and has a different dollar value.

But you can get an estimate of the value of ANZ Reward Points with Finder's calculator.

Points-to-dollars calculator 💵

Here are some other examples of how much ANZ Reward Points are worth for different rewards, based on the details from the ANZ Rewards website.

RewardPoints neededValue in dollarsValue per 1,000 pointsGood for:
$100 Coles Group & Myer gift card22,500$100$4.44Retail therapy
Brabantia Digital Air Fryer 5lt41,900$189$4.51Cooking or a gift
$160 cashback40,000$160$4Covering the cost of some shopping you’ve already done
Apple iPhone 13 256GB Starlight315,100$1,299$4.12Your next big adventure

Based on these examples, you would get between $4 and $4.51 value for every 1,000 ANZ Rewards Points redeemed. This gives you a value of 0.4 to 0.45 cents for each point you use.

If there's another reward you want, you can also divide the dollar value of the reward by the number of points needed to get specific details. Or, use Finder's guide to calculating the values of reward points.

How to get the most value from the ANZ Rewards program

Always choose rewards that you want or need so you can at least save some cash. If there's nothing you want, just keep saving up points.

Or, if you’re active with a frequent flyer program, transfer them so you can put them towards flight rewards, which can offer more than $20 value per 1,000 frequent flyer points.

How to redeem ANZ Reward Points

  1. Go to and log in with your account details.
  2. Look at the rewards available and click on the one you want.
  3. Follow the prompts to redeem your points for the reward.

You can also access your ANZ Rewards Points by logging in to ANZ Internet banking, selecting the account and then selecting "Rewards Points".

Have a question about a reward or your points balance? Call the ANZ Rewards Centre on 1300 367 763.

How to decide if the ANZ Rewards program is worth it for you

With any rewards credit card, there is a chance that the card's costs will outweigh the value you get from any bonus points, rewards and other perks. So here's what to think about before you apply.

  1. Look at the cost of the card. The annual fee and the interest rate for purchases are the key costs. Ideally, you want an annual fee that is worth less than the value of your rewards.
  2. Ask yourself how much you'll use the card. The main way you earn points is by making eligible purchases with your credit card. If you don't earn enough points, getting rewards won't be worth it compared to the account costs.
  3. Think about whether the rewards are actually valuable to you. You can look at the rewards on offer through the ANZ Rewards website before you actually get a credit card. If there aren't any that excite you, then this probably isn't the rewards program for you.

Example: Working out if an ANZ Rewards Platinum card is worth it

Let's put these 3 tips into practice with the ANZ Rewards Platinum Credit Card.

  • Card costs. This card has a $149 annual fee and a 20.99% p.a. interest rate for purchases (outside of any promotions). To keep it simple, we'll focus on the annual fee cost in this example, but remember to think about interest charges if you carry a balance. If you could earn 22,500 points in a year, you'd have enough for a $100 Coles Group & Myer gift card that would cover this cost.
  • Yearly spending. Let's say you have an average yearly spend of $48,000 on eligible purchases (around $4,000 per month). Based on the earn rates of this card, you'd earn 48,000 points in a year. That is enough to get $190 cashback (47,500 points), which would more than offset the annual fee.
  • The value of rewards. What if we weren't excited about cashback or any other reward? Or if earning all those points felt like hard work? Then it would be time to look at other cards.

What’s important to remember is that rewards can be a great way to get something extra out of having a credit card – for some people. And for other people, money-saving features can give them more value.

Frequently asked questions

Pictures: Shutterstock

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