Offers up to 100,000 bonus Velocity Points and complimentary insurance cover, with a $149 annual fee.
The ANZ Rewards Platinum Credit Card is ideal for those looking to earn Velocity Points on their spending. Currently, you can earn 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 of approval. Additionally, you can earn another 30,000 Velocity Points by keeping your card open for over 15 months. To qualify for the full bonus, ensure you activate and maintain auto-redemption in your ANZ Rewards account within 3 months of approval to convert your ANZ Rewards Points to Velocity Points.
Points can also be redeemed for cashback, retail items, or transferred to partner programs like Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles, and Air New Zealand Airpoints.
Additional features include complimentary travel and purchase insurance, as well as 24/7 concierge service. The card has a 20.99% p.a. interest rate on purchases, so it's best to pay off your balance in full each month to maximize its value and avoid interest charges.
Pros | Cons |
|---|---|
Up to 100,000 bonus Velocity Points | Low $2,000 threshold before the points per $1 rate is reduced (for that statement period) |
Up to 1.5 ANZ Reward Points per $1 spent | Relatively high 20.99% p.a. interest rate for purchases |
Complimentary insurance covers, including international travel insurance, purchase protection insurance and extended warranty insurance | Relatively high $65 annual fee for each additional cardholder |
The ANZ Rewards Platinum Credit Card comes with a $149 annual fee, which is competitive for a rewards card. It allows you to earn up to 1.5 ANZ Reward Points per $1 spent on eligible purchases. These points can be redeemed for gift cards, transferred to frequent flyer programs, or used for other rewards. Additionally, the card provides complimentary international and domestic travel insurance, along with other types of coverage.
Details of ANZ Rewards Platinum Credit Card
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 |
Fee
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 approximately 20 minutes. Before starting your application, ensure you meet the eligibility criteria and have all the required information on hand.
Eligibility Criteria
New Customer: The bonus Velocity Points offer is available exclusively to new ANZ Rewards credit card holders.
Residency Requirement: Australian citizens and permanent residents can apply. Non-Australian permanent residents must have a minimum of 12 months remaining on an eligible working or business visa.
Credit History: A good credit score and history are required.
Age: Applicants must be at least 18 years old.
Required Documents
Personal Details: Provide your Australian driver’s licence for identification purposes (if you don’t have a licence, you can still apply).
Income and Finances: Submit information about your income, expenses, assets, and liabilities. You will also need to provide two recent pay slips for income verification. If you are a tax resident in another country, you must include your Foreign Tax Number.
Employment: Confirm your current employment and provide your employer's contact details. If you’re self-employed, you’ll need to include your accountant’s details.
This straightforward application process is designed to accommodate Australians searching for an effective credit card solution that manages existing debt efficiently while offering new purchasing power.
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