Full Information to the ANZ Rewards Program

On this information, have a look at what’s new and what’s coming quickly with ANZ Rewards, who up to date their program late 2021. ANZ has 4 rewards-earning bank cards, so we’ll present you the way they stack up for worth.

🔥 Earning Factors

First issues first. How do you earn factors as a member of ANZ Rewards?

As an in-bank rewards program, ANZ Rewards gives factors incomes by way of its ANZ Rewards bank cards. There are 4 playing cards at the moment supplied inside the ANZ Rewards vary, that are tiered to go well with completely different ranges of spending.

• The ANZ Rewards Card is the entry-level ANZ Rewards earner, providing the bottom earn price – and the bottom annual charge.
• Subsequent on the ladder is the ANZ Rewards Platinum Card, which gives a better earn price and extra extras, in return for a better annual charge.
• High of the heap is the ANZ Rewards Black Card, which steps it up once more with a better earn price, a couple of extra extras, and once more, a better annual charge.
• Sitting outdoors the tier system is the ANZ Rewards Journey Adventures Card, which basically gives the identical earn price and extras because the Platinum card, with the added bonus of getting no worldwide transaction charge.

We’ll talk about every of those playing cards in additional element within the following part.

What else do it is advisable to find out about factors incomes inside ANZ Rewards?

On every card, you’ll be able to get pleasure from uncapped factors incomes. This basically means that you can proceed incomes factors in your purchases, regardless of how a lot you spend every month.

It’s value declaring, nevertheless, that every card inside the ANZ Rewards vary constructions its earn price. So, when you could possibly earn as many factors as you need, when you attain a sure spending threshold every month, your earn price per $1 will drop.

As for what transactions are eligible for factors incomes, you’ll earn factors on most purchases. Transactions exempt from factors incomes embody curiosity costs, authorities costs, financial institution charges, funds made to the ATO, steadiness transfers and money advances.

And factors expiry? In accordance with this system’s phrases, you should use your factors inside 36 months of 31 December of the 12 months through which the factors had been earned. Factors that stay unused after that interval will likely be cancelled.

For those who select to shut your ANZ Rewards account, could have 90 days to redeem your factors earlier than they expire.

One final be aware on factors incomes entails the Bonus Factors Mall. Previous to the ANZ Rewards program improve, cardholders might earn bonus factors on spending at sure retailers. Whereas ANZ flags the Bonus Factors Mall will return quickly, it has not but been reintroduced to this system.

ℹ️ Intro Bonus Factors

Like most rewards packages, ANZ Rewards gives bonus factors introductory gives to entice new cardholders to use for its bank cards.

How do these intro gives work?

Once you apply for a card with a bonus factors intro supply, you’ll obtain a specified variety of bonus factors after assembly the minimal spend necessities as set out by the supply.

An instance? Let’s say you apply for a card with an intro supply of 75,000 bonus factors. The supply states you should spend a minimum of $1,500 in your card inside the first three months from card approval.

So, all it is advisable to do is spend $1,500 on eligible purchases inside that timeframe (these are normally the identical sorts of transactions that help you earn rewards factors), and your account will then be credited with 75,000 factors to spend as you want.

It’s value declaring that as these gives are designed to draw new cardholders, they’re solely supplied to new cardholders.

When it comes to ANZ Rewards playing cards, which means you can’t at the moment maintain, or have opened or closed any card inside the ANZ Rewards vary within the final 12 months.
 

Time to match ANZ Rewards playing cards to see how they work and what they’ve to supply.

Let’s begin out by introducing the basic – or entry-level – card inside the ANZ Rewards vary. That is the ANZ Rewards Card.

As a basic rewards card, extras on the ANZ Rewards Card are primary. You get the usual set of safety and cost options, alongside entry to Cashrewards Max (ANZ’s cashback providing, which supplies cashback offers to cardholders after they spend with companion retailers).

To use for the ANZ Rewards Card, you should:

• Be 18 years of age or over.
• Be a everlasting Australian resident or a non-permanent resident with greater than 9 months remaining in your Visa.
• Have a great credit standing.

ANZ doesn’t present a minimal earnings requirement on any of its ANZ Rewards vary. In case you are fascinated with making use of for a specific card, it may be a good suggestion to begin with the cardboard’s minimal credit score restrict to gauge anticipated spending ranges. For those who’re nonetheless not sure, contact ANZ to get a tough thought of what’s anticipated of you.

One other issue to take into consideration needs to be your anticipated spend – and whether or not it would supply worth by way of the rewards you earn.

To present you an thought of how this may work, you would want to spend round $30,000 per 12 months (or $2,500 monthly) on the ANZ Rewards Card to interrupt even after paying its annual charge.

On a month-to-month spend of $2,500, you’d earn 1,750 factors every month, or 21,000 factors per 12 months. This could equal $84 in cashback worth, or $94 in present card worth, which might simply cowl the cardboard’s annual charge.

Transferring on up the ladder, the ANZ Rewards Platinum Card combines a better earn price and a better factors shaping threshold, with a couple of platinum perks.

Platinum perks on the ANZ Rewards Platinum Card give attention to complimentary insurances.

For abroad journey:

• Worldwide Journey Insurance coverage

For journey inside Australia:

• Rental Automobile Extra in Australia Insurance coverage
• Home Journey Insurance coverage

To your purchases:

• Buy Safety Insurance coverage
• Prolonged Guarantee Insurance coverage

Cardholders may profit from entry to a private concierge and Visa Provides + Perks.

Acknowledged eligibility standards is identical because the basic ANZ Rewards Card, however you’d probably have to satisfy increased earnings necessities and different standards to get authorized for the Platinum card, due to its increased minimal credit score restrict.

And spend? To interrupt even on this card’s annual charge year-to-year, you would want to spend a minimum of $1,300 monthly or $15,600 per 12 months. On this spend, you’d earn 23,400 factors, equal to $94 in cashback worth, or $102 in present card worth.

Making an allowance for the intro supply, you’d get $200 in cashback worth or $220 in present card worth from the 50,000 bonus factors supply. On high of that, any factors you do earn within the first 12 months are ‘free’, as a result of there isn’t a annual charge.
 

On high of the ladder is the ANZ Rewards card, offering the vary’s highest earn price and a few further perks on high of what’s on supply on the Platinum card.

Extras on the ANZ Rewards Black Card embody the identical complimentary insurances because the ANZ Rewards Platinum Card, alongside entry to a private concierge and Visa Provides + Perks.

The primary further additional comes within the type of Exclusives by ANZ, which basically supplies entry to unique, invitation-only occasions.

Once more, the acknowledged eligibility standards for the ANZ Rewards Black Card is identical as the opposite playing cards inside this vary, nevertheless, you’d probably want to satisfy a lot stricter necessities by way of your earnings and credit score historical past in an effort to be authorized.

So, how a lot would it is advisable to spend to make paying that annual charge worthwhile? For those who spent $4,000 every month, or $48,000 per 12 months, you’d earn 96,000 factors within the 12 months. That equates to $384 in cashback worth, or $417 in present card worth.

Within the first 12 months, you may get pleasure from further worth, as you pay no annual charge, whereas having fun with a lift from the bonus factors supply. Redeeming 80,000 factors, you’d get $320 in cashback worth, or $350 in present card worth.
 

Set outdoors of the tiered number of ANZ Rewards playing cards, the ANZ Rewards Journey Adventures Card focuses on journey advantages, that includes no worldwide transaction charge on purchases.

The ANZ Rewards Journey Adventures Card principally gives the identical extras because the ANZ Rewards Platinum Card, together with the complimentary insurances and private concierge service, whereas substituting entry to Visa Provides + Perks for no worldwide transaction charge.

Every of the opposite playing cards inside the ANZ Rewards vary costs a world transaction charge of three%, so that is what’s designed to set this card aside.

With a better annual charge than the Platinum card, nevertheless, you would want to spend extra monthly to see worth on the ANZ Rewards Journey Adventures Card.

To interrupt even on the cardboard’s annual charge, you would want to spend a minimum of $1,700 monthly, or $20,400 per 12 months. This could help you earn 30,600 factors per 12 months, equal to $122 in cashback worth, or $133 in present card worth.

The 40,000 bonus factors supply would provide you with a further $160 cashback worth, or $173 present card worth within the first 12 months.

🟢 Additional Cardholders

Within the card tables above, we talked about further cardholders, noting what number of further cardholders may very well be added to every account, and the way a lot every further cardholder would price in annual charges.

It’s value taking into consideration that including a further cardholder to your account might help you to earn factors quicker. Nevertheless, sure elements should be considered earlier than you implement this selection.

First up, the extra cardholder annual charge. Whereas some playing cards enable further cardholders to be added to an account totally free, there’s a charge to do that on every card inside the ANZ Rewards vary.

Earlier than including a further cardholder, contemplate how way more you’ll pay in annual charges to take action. Take into consideration whether or not that further price will likely be roughly than the worth of rewards the extra cardholder spending brings in.

It’s additionally a good suggestion to think about factors shaping and factors caps earlier than including a further cardholder. Whereas the ANZ Rewards vary doesn’t cap factors, it does form factors, lowering the earn price as soon as a sure spending threshold has been reached.
 

🛒 Using Factors

Now it’s time to take a look at redemption choices. What are you able to get again in rewards once you redeem factors on the ANZ Rewards program?

ANZ Rewards at the moment gives 3 ways to redeem Reward Factors.

• Present playing cards from a spread of outlets, the place 2,300 Reward Factors equal $10.
• Cashback on the bank card, the place 1,250 Reward Factors equal $5.
• Switch to airline companions:
  • Asia Miles 3:1 (the place 3,000 Reward Factors equal 1,000 Asia Miles)
  • Air New Zealand Airpoints 200:1
  • Singapore Airways KrisFlyer 3:1
  • Velocity 2:1

ANZ states:

“A couple of of our earlier redemption choices are nonetheless getting their ending touches, able to return within the coming months.”

First, some tremendous print.

Solely the first accountholder can redeem factors to say rewards. In different phrases, further cardholders will not be allowed to say rewards.

Additionally, you can’t declare a reward by pooling factors from various card accounts. So, you and your companion, for instance, couldn’t declare a reward from a pool of your two rewards balances.

Okay, rewards. As we talked about earlier, ANZ Rewards has obtained a makeover. The truth is, it’s nonetheless within the technique of ending up that makeover. Because of this, not all rewards can be found to say. Let’s check out what’s accessible now – and what’s but to return.

Some issues to look out for embody:

• Merchandise redemptions, on gadgets comparable to electronics and homewares.<b
• Auto-redemptions linked to companion packages.
• Factors Plus Pay, which might help you make up the distinction in your card once you don’t have sufficient factors for the reward you need.
• Bonus Factors Mall, the place you’ll be able to earn additional Reward Factors once you store on-line with sure manufacturers.

You’ll be able to redeem your ANZ Rewards factors on a variety of eGift playing cards. Retailers embody well-known names comparable to Amazon and Apple, Massive W and Bunnings, Dan Murphy’s, Myer and Sephora.

Experiences are additionally on the desk, by way of eGift playing cards for Endota Spa and Occasion Cinemas, Purple Balloon and Ticketmaster. And, when you can’t ebook journey together with your factors proper now – extra on that in a minute – you’ll be able to decide up a Flight Centre eGift card together with your factors.

Fortunately, ANZ Rewards utilises a standardised redemption worth throughout all eGift playing cards, so you realize you’ll get the identical worth, no matter which eGift card you select. There are additionally a variety of denominations on supply (relying on retailer), so you’ll be able to redeem large or small.

Listed below are the variety of factors you would want to redeem for every main eGift card worth.

• 2,300 factors = $10 eGift card
• 5,560 factors = $25 eGift card
• 11,115 factors = $50 eGift card
• 22,225 factors = $100 eGift card
• 55,560 factors = $250 eGift card
• 111,000 factors = $500 eGift card

Alternatively, you may redeem your factors to cut back the steadiness in your card, or high up your eligible ANZ checking account.

With this selection, you’ll obtain $5 cashback for each 1,250 factors you redeem.

As you’ll be able to see from the examples above, cashback gives barely much less worth on redemption than present playing cards.

To get pleasure from $10 of eGift card worth, you would want to redeem 2,300 factors, whereas $10 of cashback worth would require 2,500 factors.

As with all reward, you would want to weigh up the professionals and cons of every redemption choice, to seek out out the place the true worth lies for you.
 

✈️ Using Factors for Journey

Previous to its makeover, ANZ Rewards allowed cardholders to ebook journey utilizing factors by way of its ANZ Vacation Rewards service.

As this is among the companies that’s but to be reinstated, utilizing factors for journey inside ANZ Rewards can now solely be achieved by redeeming factors for a Flight Centre eGift card, or by transferring factors to one of many program’s frequent flyer companions.

You’ll be able to switch ANZ Reward Factors to Cathay Pacific’s Asia Miles program at a price of three:1 (the place 3,000 Reward Factors equal 1,000 Asia Miles).

Transfers begin at 3,000 Reward Factors, going up in increments of 1,500 Reward Factors. ANZ Rewards notes a redemption time of as much as 18 enterprise days to finish every switch.

• Air New Zealand Airpoints

You’ll be able to switch ANZ Reward Factors to Air New Zealand’s Airpoints program at a price of 200:1 (the place 200 Reward Factors equal 1 Airpoints Greenback).

Transfers begin at 2,000 Reward Factors, going up in increments of two,000 Reward Factors. ANZ Rewards notes a redemption time of as much as 6 enterprise days to finish every switch.

You’ll be able to switch ANZ Reward Factors to Singapore Airways’ KrisFlyer program at a price of three:1 (the place 3,000 Reward Factors equal 1,000 KrisFlyer Miles).

Transfers begin at 1,500 Reward Factors, going up in increments of 1,500 Reward Factors. ANZ Rewards notes a redemption time of as much as 15 enterprise days to finish every switch.

You’ll be able to switch ANZ Reward Factors to Virgin Australia’s Velocity program at a price of two:1 (the place 2,000 Reward Factors equal 1,000 Velocity Factors).

Transfers begin at 2,000 Reward Factors, going up in increments of two Reward Factors. ANZ Rewards notes a redemption time of as much as 5 enterprise days to finish every switch.

It’s value mentioning that in an effort to switch ANZ Reward Factors to one of many program’s companions, you should be a member of that program.

ANZ Rewards additionally notes that transfers at the moment should be accomplished over the telephone by calling the ANZ Rewards Centre on 1300 367 763 throughout enterprise hours (8am to 8pm AEST, Monday to Friday excluding nationwide public holidays).

You can begin your redemption on-line, however you’ll need to name to confirm your particulars in an effort to full the redemption inside seven days.

🔜 Coming Quickly

So, what else is within the pipeline for ANZ Rewards?

On its web site, ANZ says that a couple of of its earlier redemption choices are nonetheless “getting their ending touches”, and are set to return within the coming months. Right here’s what you’ll be able to count on as soon as this system’s makeover is full.

• Merchandise: ANZ Rewards is “working to deliver particular merchandise comparable to homewares or electronics again”. Merchandise rewards will probably be supplied by way of the ANZ Rewards Retailer, or one thing related.
• Bodily Present Playing cards: Proper now, ANZ Rewards solely gives eGift playing cards. Nevertheless, the financial institution states bodily present playing cards will likely be making a comeback quickly.
• Journey: ANZ doesn’t present any particular information relating to the return of ANZ Vacation Rewards. It might deliver again this journey reserving service or one thing related, which might enable members to make use of their factors to ebook flights, lodging and actions.

Different issues to look out for embody:

• Auto-redemptions (permitting you to hyperlink to companion packages and switch your factors routinely to that program).
• Factors Plus Pay (permitting you to make up the distinction in your card once you don’t have sufficient factors to redeem the reward you need).
• Bonus Factors Mall (the place you’ll be able to earn additional Reward Factors once you store on-line with sure manufacturers).

⚖️ Why Select ANZ Rewards?

ANZ Rewards is a nicely rounded rewards program, providing clear redemption choices within the type of cashback and eGift playing cards. Members even have the choice to switch factors to a pleasant number of companion frequent flyer packages, providing conversion charges on par with different in-bank packages.

As ANZ Rewards completes its makeover, this system ought to present extra useability and suppleness.

When it comes to playing cards incomes ANZ Rewards, the tiered choice ought to help you select the extent of card that works to your spending, with some good perks on the upper finish choices. Whereas not one of the playing cards inside the ANZ Rewards vary caps factors, it’s value taking note of factors shaping – and the way it might have an effect on your earn.

As for bonus factors gives, these will change over time, however they’ll present critical worth when the supply is sufficiently big.

Picture supply: Getty Pictures